Hi,
I'm new to trading and have been spending the last few weeks reading up on technical analysis, FOREX, spread betting etc. I'm a software engineer and am interested in seeing what I can do with some form of automated trading. However, it's quite difficult to guage the current situation regarding this and I think an FAQ of some sort (or just comments to this thread) would be appreciated.
From my point of view (i.e. that of a newbie), when trying to find out stuff on MetaTrader, this is what I've been able to gather. I'd appreciate it if these statements could be confirmed and comments added:
1. MetaTrader 3 allowed you to write scripts that could perform automatic trades on your behalf.
2. MetaTrader 4 does not have this facility and no way has been found to do this.
3. Many online brokers are moving over or have moved over to the MT4 platform and MT3 is no longer supported. What providers remain that still allow for MT3 and are they likely to support MT3 in the future?
4. Are there any other free tools available that enable you to perform automatic trades based on a number of rules?
I may even have the total wrong end of the stick here, but I'd greatly appreciate it if people could confirm these details.
Thanks,
Marc