MQL5 Market - have something to profit from?
Earlier, buying apps for Metatrader was more like roulette. These were either single sites with several states and a promise of the grail, where money was transferred to some "uncle" directly to the account, along with a guarantee of non-refund. Or they used large electronic platforms, like the same Plati. With the advent of the Market, the process of buying trading experts has become more civilized and transparent. All products in the store are pre-moderated, so your money certainly will not go anywhere. Nevertheless, in order not to overpay the excess, some features of the newfangled Store, which will be discussed below, should be taken into account.
Well, let's see: is it possible to find something worthwhile in the MQL5 Market?
Testing a product from the Market
There are two ways to enter the Market. You can go directly to the Market page through a browser. To do this, go to MQL5.com, then to the “Market” section.
We find the indicator or expert that interests us and go to the product page.
Click "Download trial." A confirmation window should appear. Indicate "Yes, I already have MetaTrader 4."
The browser may also ask permission to run the remote program.
After that, the terminal automatically starts, if it is not already open, and the just downloaded expert will appear in the navigator, in the “Market” folder.
The same can be done by opening the Market in the terminal window, through the “Market” tab. Click "Download demo" and wait for the program to install.
Trial versions of indicators and experts can only be tested in the tester and can not be installed on the chart. Therefore, immediately go to the strategy tester. Of course, if at the testing stage any expert merges, it makes no sense to buy it.
You need to pay attention only to products that even after stress testing on different brokers and currency pairs continue to show profit. It should be borne in mind that authors often leave files of prepared settings (expert presets) or give recommendations on the period and testing methods, knowing that the expert will “merge” outside it.
So, you have chosen and tested a product that, in all respects, as a result met your requirements. Then, it's time to move on to payment.
To do this, go to the product page on the store’s website or on the Market tab in the terminal. Here you should immediately pay attention to the number of free product activations. The product is attached to the device (to iron). That is, if an expert has 5 activations, you can install it on no more than 5 different computers. It can be a home computer, at work and, say, a laptop. At the same time, if you decide to purchase a new PC, you will again have to spend one more activation on this.
So, click the Buy button and go directly to the payment page. Here we select a payment system, after which you will be redirected to the payment page. After payment is confirmed, the product will instantly appear in the terminal.
Search for analogues
A market is a really great place to purchase a sophisticated trading panel, some rare indicator or a worthy trading expert. Of course, at the stage of the opening of the Store, the shelves were empty, so many authors are trying to fill the gap, reselling already written indicators and advisers, which were previously in the public domain.
The point here is not only the non-zero cost of the product. In fact, it’s not a pity to pay the author a symbolic cost for any useful development, but, as we have already found out, the copy protection mechanism is built into the Market, and this introduces a number of uncomfortable moments. Having the source code gives you much more freedom. Firstly, you are not limited to a certain number of activations and you can share the program with others. Secondly, if the author suddenly stops updating the product, you can simply stay with a broken program. First of all, you need to try to find the program in the public domain, and only then go to the Market.
Enter in the search what we need and indicate the category "Codebase". What we need is on the first page of the search.
In this simple way, we saved ourselves from many problems related to the features of the MQL5 Store.
In fact, there are very few really useful products in the Market. Therefore, always try to think carefully about your decision before buying. On our site, all experts, indicators and scripts are provided for free. Often, what is freely available is enough for everyday trading. If you still decide to buy a paid product, ask yourself a simple question: “Will it really bring me more money?”. Usually, this immediately cuts off standard indicators with a beautiful appearance and other little useful pribludy. Everything should have its own profitability, and in our business this is really the only correct assessment method.
But if you are a programmer, the market for you is manna from heaven. This is a huge market where you can sell your products to traders from all over the world. And these are hundreds of thousands of potential customers. Moreover, not all of them are well versed in the topic, which means you can sell them not even the highest quality software, which, for example, in Runet, no one will buy.