If messing around with code then yes, you should understand it. Remember, you're executing code created by a random guy that's downloaded from a random website and no anti-virus is going to help you with code run from inside MT.
Be careful with Antikapitalist
- Thread starter PedroWheeler
- Start date
If messing around with code then yes, you should understand it. Remember, you're executing code created by a random guy that's downloaded from a random website and no anti-virus is going to help you with code run from inside MT.
Possibly, really not familiar with automated trading, i doubt i ever downloaded an external application (EA?) to any brokerage i use, never used a front end for TWS either, not sure what EA you guys are talking about - can t even see the attachment on OP's post actually.
But yes seeing all the hacks around, waking up one day with a brokerage or bank account emptied is a worry.
EA is what they refer to as "expert advisor". Made up term which is basically some code to be run inside MT. Since MT can be connected with real money accounts, it's obviously high risk.
It's obviously a problem if you download and execute code from outside sources, even if you're not directly affected. MetaTrader is Russian and while that doesn't mean it's necessarily infiltrated, there's a higher chance that it is. I'd be careful with any market related software that connects to the internet, especially if your real account information is in it.
To be fair, though, there are also loads of other reasons for not using MetaTrader, including the fact that it's without question the worst non-web-based trading interface I've ever seen in my life, and that it's a clunky, unreliable, outdated, hopeless, awful, horrible piece of junk that doesn't even display some of its built-in indicators correctly. "Just saying" ...
Do you say it from your own experience?To be fair, though, there are also loads of other reasons for not using MetaTrader, including the fact that it's without question the worst non-web-based trading interface I've ever seen in my life, and that it's a clunky, unreliable, outdated, hopeless, awful, horrible piece of junk that doesn't even display some of its built-in indicators correctly. "Just saying" ...
One thing is an application that connects to servers for updates, a whole other thing is software that has access to your brokerage account to make decisions for you.