Free Forex Indicators, MetaTrader Tools and Honest Trading Guides
I ran 2,000 coin-flip portfolios of 300 EURUSD trades each to build a yardstick, then made five popular entry rules play against it. Four of them landed below the average dice throw. Only one cleared the 95th percentile.
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A usable MT4 chart is six decisions, and the one that moves results most is the timeframe: the same rule ranged from -0.33 to +1.48 pips per trade on identical data, purely on which timeframe it ran.
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Four clicks to install, then five things that go wrong afterwards. Where to get the right build, where MT4 hides your indicators, and the one setup decision that moves results more than the platform does.
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MT5’s only measurable advantage over MT4 is seven extra timeframes. I ran one rule across 16,926 EURUSD 5-minute bars on both platforms’ timeframes. The MT5-only ones finished in the middle every time.
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The same breakout rule made +1.08 pips per trade across all 24 hours and +2.65 at 01:00 UTC. The best hour of the day was not a news hour, and two hours were outright losing.
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Where to see the real spread in MT4, what a pip of it costs by lot size, and the hour-by-hour table showing the same 1-pip spread ranging from 34% to 105% of the average 5-minute bar.
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The US release candle really is two and a half times the size of a normal EURUSD bar. Its direction predicted the next 30 minutes only 49.2% of the time. A mechanical breakout made +2.13 pips per trade — but only with small targets.
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One line of arithmetic, the finished lot table for a 10,000 dollar account, and the exact order-window fields to fill in on MetaTrader 4 and 5 — in the right order.
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The standard advice is to size the stop from ATR. On EURUSD M5 that formula produces a 4.4 pip stop, and every ATR multiple I tested lost money after spread.
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