Forex trading has become a popular activity among traders and investors in recent years. With the advancement of technology, it has become easier to trade forex using automated trading systems, also known as forex robots. These robots can be installed in trading platforms like MT4 to automate trades and make trading easier. In this article, we will discuss how to install forex robot in MT4 on Android.
Step 1: Download MT4 App
The first step to installing forex robot in MT4 on Android is to download the MT4 app from the Google Play Store. Once you have downloaded and installed the app, you will need to open it and log in to your account.
Step 2: Download the Forex Robot
The next step is to download the forex robot that you want to install. There are many forex robots available in the market, and you can choose the one that suits your trading style and preferences. You can download the forex robot from the developer’s website or from a trusted third-party website.
Step 3: Install the Forex Robot in MT4
Once you have downloaded the forex robot, you need to install it in MT4. To do this, you will need to follow the below steps:
• Open the MT4 app on your Android device and log in to your account.
• Click on the “Menu” button located in the top-left corner of the screen.
• From the menu, select “File” and then “Open Data Folder.”
• In the data folder, you will see a folder named “MQL4.” Click on it to open it.
• Inside the “MQL4” folder, you will see another folder named “Experts.” Click on it to open it.
• Copy the forex robot file that you have downloaded and paste it into the “Experts” folder.
• Close the “MQL4” folder and restart the MT4 app.
Step 4: Activate the Forex Robot
Once you have installed the forex robot in MT4, you need to activate it. To do this, you will need to follow the below steps:
• Open the MT4 app on your Android device and log in to your account.
• Click on the “Navigator” button located in the bottom-left corner of the screen.
• From the navigator, select “Expert Advisors.”
• You will see the forex robot that you have installed. Drag and drop it onto the chart on which you want to activate it.
• In the “Expert Advisor Properties” window, select the settings that you want to use for the forex robot.
• Click on the “OK” button to activate the forex robot.
Step 5: Monitor the Forex Robot
Once you have activated the forex robot, you need to monitor it to ensure that it is trading as expected. You can monitor the forex robot by checking the “Terminal” window in MT4. The “Terminal” window will show you the trades that the forex robot has executed, the profits and losses, and the current status of the robot.
In conclusion, installing forex robot in MT4 on Android is a straightforward process that can be done by following the above steps. However, it is essential to choose a reliable forex robot and monitor it regularly to ensure that it is trading as expected. With the right forex robot and proper monitoring, automated trading can be a profitable and convenient way to trade forex.
