TradePanel Manual

Unveil the Secrets of TradePanel: Gain the Skills, Insights, and Confidence to Navigate the Markets.

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This feature adds visual elements to your trading chart to show average buy and sell prices. It draws lines and captions on the chart to help you see positions' price averages clearly. The average price includes swaps and commissions to provide a comprehensive view of your position costs. This ensures greater accuracy in tracking the true costs of your trades.

Please follow these steps to install and activate your Expert Advisor:

  1. Download the EA: Use the download link provided in your WooCommerce order confirmation to get the Expert Advisor.
  2. Unzip the file: If you need help, check our guide on how to do it.
  3. Install in MetaTrader:
    1. Open your MetaTrader platform
    2. Go to File > Open Data Folder
    3. Navigate to MQL4/MQL5 > Experts
    4. Copy the downloaded file into the Experts folder
    5. Restart MetaTrader or right-click the Navigator panel and select "Refresh".
  4. Configure Expert Advisor Settings:
    1. In MetaTrader, go to Tools > Options > Expert Advisors tab
    2. Check the following boxes:
      • Allow automated trading
      • Allow WebRequest for listed URL
    3. Under "Allow WebRequest for listed URL", click Add and enter:
      • https://ginalabs.com/wp-json/mt-license-verifier/v1/verify
    4. Click OK to save settings.
  5. Attach Expert Advisor:
    1. In MetaTrader, open a chart
    2. Drag Expert Advisor from the Navigator panel onto the chart
    3. Check Allow Algo Trading and click OK
    4. In the Expert Advisor Login dialog:
      • Enter your Email used during order proccess into the "Email" field
      • Enter your License Key into the "License Key" field
    5. Click OK to activate.

Go to the Shop and navigate to the plans section. Choose your preferred new plan and complete the payment process.

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both widely-used trading platforms, but they cater to slightly different needs. Here's a comparison to help you decide which suits your requirements better:

MetaTrader 4 (MT4)

Pros:

  • Focused on Forex trading, making it ideal if you're primarily trading currency pairs.
  • Extremely user-friendly with a simpler, more intuitive interface.
  • A wide range of custom indicators and expert advisors (EAs) available, as it's been around longer.
  • Supports hedging (opening multiple positions on the same instrument in opposite directions).
  • Lower system requirements, so it can run smoothly on older devices.

Cons:

  • Lacks support for broad range of financial instruments.
  • Older technology, with updates becoming less frequent compared to MT5.

 

MetaTrader 5 (MT5)

Pros:

  • Designed for multi-asset trading, including Forex, stocks, commodities, and futures.
  • More advanced features like an economic calendar and a wider range of order types.
  • Faster trade execution and improved performance for backtesting trading strategies.
  • Offers both hedging and netting (unifying positions on the same instrument).
  • More flexibility with timeframes (21 available versus MT4's 9).

Cons:

  • Less user-friendly for beginners compared to MT4.
  • Limited compatibility with MT4 custom tools and indicators (they don't transfer directly).
  • Higher system requirements, which might not suit older devices.
  • Netting accounts can limit flexibility by disallowing hedging strategies, as they automatically consolidate opposing positions into a single net position. This restriction may not suit traders relying on advanced techniques like grid trading or arbitrage.
 

Summary

  • If you're a Forex trader looking for simplicity, MT4 is a great choice.
  • If you're trading multiple asset classes or need more advanced tools, MT5 allowing hedging might be better.

Let us know which one you're leaning towards and share your opinion.

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