MetaTrader5: 30 days challenge of learning MT5

The process of learning to create a successful Expert Advisor may extend beyond the 30-day challenge. Be patient, and continuously seek to improve your coding skills and understanding of trading principles.

MetaTrader5: 30 days challenge of learning MT5
2 min read·


2023/09/09 15:24

Sorry for the skipped time. Re-start this series from tomorrow.

Let's take a look at our schedule.

Week 1: Getting Started with MQL5

Day 1-2:

  • Familiarize yourself with the MetaEditor IDE used for writing MQL5 code.
  • Learn about the basic structure of an MQL5 program.
  • Create a simple script that displays "Hello, World!" in the Experts tab of MT5.

Day 3-4:

  • Understand data types, variables, and constants in MQL5.
  • Practice declaring and using variables.
  • Create a script to perform basic arithmetic operations.

Day 5-7:

  • Learn about functions and how to define and use them in MQL5.
  • Create custom functions to perform specific tasks.
  • Explore the built-in functions available in MQL5 for technical analysis.

Week 2: Trading Strategy Logic

Day 8-10:

  • Study different types of orders (market, pending) and how to place them.
  • Implement a simple market order based on a fixed condition.

Day 11-14:

  • Explore technical indicators available in MQL5 and their usage.
  • Develop a basic strategy using a technical indicator (e.g., Moving Average crossover).

Day 15:

  • Conduct backtesting on historical data to evaluate the performance of your basic strategy.

Week 3: Advanced Strategy Development

Day 16-18:

  • Learn about conditional statements (if, else if, else) and loops (for, while) in MQL5.
  • Enhance your trading strategy by adding multiple conditions and rules.

Day 19-21:

  • Study about trade and account functions in MQL5 (e.g., OrderModify, AccountBalance).
  • Implement risk management techniques, such as setting stop-loss and take-profit levels.

Day 22-24:

  • Incorporate more technical indicators or other market data to refine your strategy.
  • Optimize the parameters of your strategy using the built-in optimization tools in MT5.

Week 4: Testing and Deployment

Day 25-27:

  • Conduct forward testing on a demo account to validate your Expert Advisor's performance.
  • Keep a journal of your EA's trades and performance for analysis.

Day 28:

  • Review the code for any potential bugs or optimizations.
  • Make necessary improvements based on the insights gained from forward testing.

Day 29:

  • Finalize your Expert Advisor code and prepare it for live trading.
  • Set up a separate live account with a small amount of funds for initial deployment.

Day 30:

  • Deploy your Expert Advisor on the live account and monitor its performance in real-time.
  • Continue monitoring and evaluating your EA's performance and be prepared to make adjustments if needed.