How to Automate Forex Trading

Using "Automated Trading Robots" or "Expert Advisors" or simply "EA", is easily done on the Metatrader 4 platform, but did you know you can have multiple expert advisors running at the same time on one platform?

For purposes of this article, I will use the forex Metatrader trading platform as an example, since it is a very user-friendly platform and can easily run expert advisors.

Assuming you have already opened a live Metatrader trading account with your preferred Forex Broker, go to the file menu in the top left corner to open a new chart. Click on "New Chart" and then choose the currency pair you wish to trade. You can also simply click on the Chart icon in the top left corner of the screen to save yourself an extra step. The chart will be shown in one of the tabs below, as the line in red indicates at the bottom of the screen on Exhibit "A". Follow the same steps to open your second chart, if you wish to trade the same currency pair with another EA. You must do this if you are to trade multiple EA's on the same currency pair, since you will not be able to trade multiple EA's on one chart.

Exhibit A

If you already had your first chart with the correct currency pair in the first tab, once the second chart is created, it will automatically go to the last tab of any other charts already there.

For convenience, you can move the chart you just created closer to your first chart, so you can easily toggle between the two charts. Click and hold on the chart you just created, then drag and drop on the tab next to your first chart and it will replace whatever chart was there. You can see in Exhibit "B" below that we have moved the second EUR/USD M15 chart next to the first one. Alternatively, you can minimize your chart and view them all on one screen, as shown below.