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Metatrader 4 Expert Advisor Cracked: What You Need to Know
If you are looking for a way to automate your forex trading and increase your profits, you might have heard of Metatrader 4 Expert Advisors. These are software programs that can execute trades on your behalf based on predefined rules and strategies. However, not all Expert Advisors are created equal, and some of them can be quite expensive. That's why some traders resort to using cracked versions of Expert Advisors that they can download for free or at a low cost from various sources online. But is this a good idea? What are the pros and cons of using a cracked Expert Advisor for Metatrader 4? And how can you find the best cracked Expert Advisors for your trading style and goals? In this article, we will answer these questions and more.
Before we dive into the topic of cracked Expert Advisors, let's first understand what Metatrader 4 and Expert Advisors are and why they are popular among forex traders.
What is Metatrader 4?
Metatrader 4 (MT4) is one of the most widely used trading platforms in the forex market. It was developed by MetaQuotes Software in 2005 and has since become the industry standard for online forex trading. MT4 allows traders to access various financial instruments, such as currency pairs, commodities, indices, stocks, and cryptocurrencies, and execute trades with different order types and execution modes. MT4 also provides traders with various tools and features to enhance their trading experience, such as technical analysis indicators, charting tools, market news, trading signals, scripts, and more.
What is an Expert Advisor?
An Expert Advisor (EA) is a software program that can run on MT4 and perform trading tasks automatically based on predefined rules and strategies. An EA can analyze the market conditions, generate trading signals, open and close trades, manage risk, and monitor performance without any human intervention. An EA can be either custom-made by a programmer or purchased from a vendor or a marketplace. An EA can also be backtested and optimized on historical data to evaluate its performance and improve its parameters.
What are the benefits of using an Expert Advisor?
Using an EA can have several advantages for forex traders, such as:
Eliminating emotions: An EA can trade objectively and consistently based on logic and rules, without being affected by fear, greed, stress, or bias.
Saving time: An EA can trade 24/7 without requiring constant supervision or intervention from the trader.
Increasing efficiency: An EA can execute trades faster and more accurately than a human trader, avoiding errors or delays.
Diversifying strategies: An EA can trade multiple currency pairs, time frames, or strategies simultaneously, increasing the chances of finding profitable opportunities.
Enhancing performance: An EA can backtest and optimize its parameters on historical data to improve its profitability and reduce its drawdown.
How to get a cracked Expert Advisor for Metatrader 4
As you can see, using an EA can be very beneficial for forex traders. However, not all EAs are affordable or accessible. Some EAs can cost hundreds or even thousands of dollars to purchase or rent from their developers or vendors. Some EAs may also have limited availability or compatibility issues with certain brokers or platforms. That's why some traders look for alternative ways to get EAs without paying the full price or following the official channels. One of these ways is to use a cracked version of an EA.
What are the risks of using a cracked Expert Advisor?
A cracked EA is an illegal copy of an original EA that has been modified or hacked to bypass its license or protection system. A cracked EA can be downloaded for free or at a low cost from various sources online, such as websites, forums, blogs, social media groups, etc. However, using a cracked EA can be very risky and unethical for several reasons:
Infringing intellectual property rights: A cracked EA is a violation of the copyright laws and the terms and conditions of the original developer or vendor. By using a cracked EA, you are stealing their work and depriving them of their rightful income.
Exposing yourself to malware: A cracked EA may contain viruses, trojans, spyware, ransomware, or other malicious software that can harm your computer or steal your personal information.
Losing money: A cracked EA may not work properly or as intended by the original developer or vendor. It may have bugs, errors, glitches, or outdated parameters that can cause poor performance or unexpected losses.
Facing legal consequences: A cracked EA may be detected by the original developer or vendor or by your broker or platform. If this happens, you may face legal actions such as fines, lawsuits, account suspension, or banishment.
How to find a reliable source for cracked Expert Advisors
If you still want to use a cracked EA despite the risks involved, you need to be very careful and selective about where you get it from. There are many sources online that claim to offer free or cheap cracked EAs for MT4 but most of them are scams or unreliable. Here are some tips on how to find a trustworthy source for cracked EAs:
```html Do your research: Before downloading any cracked EA from any source online, do some background check on the source itself. Look for reviews, ratings, feedbacks, testimonials, or complaints from other users who have used the source before. Avoid sources that have negative or suspicious reputation or history.
Compare different sources: Don't settle for the first source that you find online. Compare different sources that offer the same or similar cracked EAs and see which one has the best quality, price, features, support, or guarantees. Choose the source that meets your needs and expectations.
Scan for malware: Before installing any cracked EA on your MT4 platform, scan it with a reliable antivirus or anti-malware software to make sure it is safe and clean. Delete any cracked EA that contains or triggers any malware warning or alert.
Test on a demo account: Before using any cracked EA on a live account, test it on a demo account first to see how it works and performs. Monitor its results and behavior and compare them with the original EA if possible. If you notice any discrepancy or problem with the cracked EA, stop using it immediately.
How to install and use a cracked Expert Advisor on Metatrader 4
If you have found a reliable source for a cracked EA and have downloaded it safely on your computer, you need to install and use it on your MT4 platform. Here are the steps to follow:
Copy the cracked EA file: Locate the cracked EA file on your computer (usually in .ex4 or .mq4 format) and copy it.
Paste the cracked EA file: Open your MT4 platform and go to File > Open Data Folder. Then open the MQL4 folder and then the Experts folder. Paste the cracked EA file in this folder.
Refresh the MT4 platform: Close and reopen your MT4 platform or go to Navigator > Expert Advisors and right-click and select Refresh. You should see the cracked EA in the list of available EAs.
Attach the cracked EA to a chart: Select a currency pair and a time frame that you want to trade with the cracked EA. Then drag and drop the cracked EA from the Navigator window to the chart window. A pop-up window will appear with the settings of the cracked EA.
Adjust the settings of the cracked EA: In the pop-up window, go to the Inputs tab and adjust the parameters of the cracked EA according to your preferences or strategy. You can also enable or disable some features or options of the cracked EA in this tab.
Activate the cracked EA: In the pop-up window, go to the Common tab and make sure that Allow live trading and Allow DLL imports are checked. Then click OK to close the window. You should see a smiley face in the top right corner of the chart window indicating that the cracked EA is active and ready to trade.
Best cracked Expert Advisors for Metatrader 4 in 2023
If you are looking for some recommendations on which cracked EAs to use for MT4 in 2023, here are some of the best ones that we have found online based on our research and testing. However, please note that we do not endorse or guarantee any of these cracked EAs and we advise you to use them at your own risk and discretion.
NorthWest EA is an automated Metatrader 4 EA that is free to download from ForexCracked.com. It works based on price action and trend following strategies and can trade multiple currency pairs with low drawdown and high profit factor. It has a built-in money management system that can adjust lot size according to risk level and account balance. It also has a news filter that can avoid trading during high-impact news events. It can be backtested and optimized on historical data to improve its performance.
Robot for Gold Trading MT4 EA
Robot for Gold Trading MT4 EA is an automated trading MT4 EA designed specially designed to trade only on XAUUSD (GOLD). It is free to download from ForexCracked.com. It uses a scalping strategy that can generate consistent profits with low risk. It has a dynamic stop loss and take profit system that can protect trades from market fluctuations. It also has a trailing stop feature that can lock in profits as the price moves in favor of the trade. It can be used on any time frame but works best on M15.
Mad Max Forex Robot MT4
Mad Max Forex Robot MT4 is a free forex robot that can be downloaded from ForexCracked.com. It uses an algorithmic trading strategy that can adapt to different market conditions and volatility levels. It can trade multiple currency pairs with high accuracy and profitability. It has a smart risk management system that can control lot size, stop loss, take profit, and trailing stop according to market situation and account balance. It also has a news filter that can avoid trading during major news events.
MEF Algosoft MT4 Bot
MEF Algosoft MT4 Bot is a soft MT4 single-order expert advisor that is free to download from ForexCracked.com. It uses a simple but effective strategy based on moving averages crossover and stochastic oscillator signals. It can trade any currency pair on any time frame with low drawdown and high win rate. It has a flexible lot size setting that can be adjusted according to risk appetite and account size. It also has a breakeven feature that can move stop loss to entry price when trade reaches a certain profit level.
Greezly Bot Pro EA
Greezly Bot Pro EA is a fully automated forex EA that is free to download from ForexCracked.com. It has been developed by professional traders with over 10 years of experience in forex trading. It uses a grid trading strategy that can open multiple trades in both directions with different lot sizes and take profit levels. It can trade any currency pair on any time frame with high profitability and low risk. It has an advanced money management system that can calculate optimal lot size based on account balance and risk level. It also has a recovery mode feature that can close all trades at breakeven or minimal loss when market goes against initial direction.
```html Therefore, if you decide to use a cracked Expert Advisor for Metatrader 4, you need to be very careful and selective about where you get it from, how you install it and use it on your MT4 platform, and how you evaluate its performance and results. Alternatively, you can look for some of the best cracked Expert Advisors for Metatrader 4 in 2023 that we have recommended in this article based on our research and testing. However, please note that we do not endorse or guarantee any of these cracked Expert Advisors and we advise you to use them at your own risk and discretion.
Here are some of the frequently asked questions about Metatrader 4 Expert Advisor cracked:
What is the difference between a cracked EA and a free EA?A cracked EA is an illegal copy of a paid EA that has been modified or hacked to bypass its license or protection system. A free EA is a legal copy of an EA that has been offered for free by its developer or vendor.
Is it legal to use a cracked EA?No, it is not legal to use a cracked EA as it violates the intellectual property rights and the terms and conditions of the original developer or vendor. By using a cracked EA, you are committing a crime and may face legal actions.
Is it safe to use a cracked EA?No, it is not safe to use a cracked EA as it may contain malware that can harm your computer or steal your personal information. It may also not work properly or as intended by the original developer or vendor and may cause poor performance or unexpected losses.
How can I find a reliable source for cracked EAs?You can find a reliable source for cracked EAs by doing your research, comparing different sources, scanning for malware, and testing on a demo account before using on a live account.
How can I install and use a cracked EA on MT4?You can install and use a cracked EA on MT4 by copying the cracked EA file, pasting it in the Experts folder of your MT4 data folder, refreshing your MT4 platform, attaching the cracked EA to a chart, adjusting the settings of the cracked EA, and activating the cracked EA.