MetaTrader 4 is a trading platform for trading on Forex. Also, it is ageat software for automated forex trading and building up a passive channel.
Well, I am not going to describe the MetaTrader 4 application (or MetaTrader 5 – the latest 2017 version). This is available on their official site. My goal is to get to business right now. So, let’s do it. Lets make a Forex robot for automated trading now!
Raspberry Pi introduction
First of all, due to the fact, that this article is likely to be read by people without a strong technical background, I’d rather start with an introduction of the core technological solution, called ARM-based mini PC board. What’s that? In a nutshell, it’s a mini PC board just like the ordinary laptop or desktop has inside, but smaller, a bit less powerful, energy savvy and with unlimited usage possibilities.
There are a plenty of brands of that kind of hardware, but, believe me, one of the most popular and widespread is Raspberry Pi. Learn more on their website www.raspberrypi.org. Find the Raspberry Pi board (model 2) image right below.
I can foreknow your question: “Why use this ??? Can I simply use my laptop which I am completely familiar with?!” The answer is “Yes, of course, you can!” Yes, you can do whatever millions of others are doing and suffer from the same issues again and again. Nowadays the most valuable things are time and operational costs. So, running MetaTrader on a separate mini PC board, that consumes 20 times less energy than your laptop and can consistently work for years without being switched off or reboot, is the hell way more reasonable, isn’t it?
Moreover, not only the operational costs are being reduced, but also you are saving your time. The main idea is that you can use a Raspberry Pi board as a small side device, which can work separately from your laptop or desktop, implementing the profitable algorithm preset. For example, MetaTrader will be looking after the currency rates and as soon as it reaches a particular desired value it’ll start selling or buying. In the meantime, you are working on your laptop (or PC) doing some other profitable things. So, it’s obvious, that using Raspberry Pi and MetaTrader on it, you can create a profit-pumping machine, working 24/7 and consuming energy just like your most economy LED-lamp does. And all this is a passive kind of income, which is even better! 😉
The Working Scheme
So, what we need to run this project and turn our forex auto trader into reality. Just a few things!
1. A Raspberry Pi device (model 2 or 3). Find it on raspberrypi.org, element14 e-shop or Amazon.
2. A screen display monitor. At least to configure all the settings as the very first step. After that, it will be possible to access your RPi device remotely.
3. ExaGear Desktop software. This feature is necessary to set up MetaTrader on Raspberry Pi device and make the whole scheme work as a forex VPS hosting.
MetaTrader installation tutorial
Download and Set up ExaGear Desktop
Just a few words about the necessity of using an extra piece of software for that project. The matter is that we are working with hardware which is built on a different type of a processor from what is usually used for laptops and PCs. The Raspberry Pi processors are called ARM, while on your regular computer there are processors called x86. In general, both of them are as different as the flame and water. So, technically, it is impossible to run any software made for x86 processors on ARM processors… But there is nothing impossible for real money makers! So, with the help of a special binary translator called ExaGear, we will make MetaTrader work on the ARM processor.
Well, it’s time to get some job done. Let’s imagine, you have bought your Raspberry Pi board. Have it delivered, unpacked, connected to some display and to your Internet. It’s really simple. After switching it on you’ll see the Raspbian interface, which is really user-friendly. From now on we keep on working directly from this device. Open up an internet browser in the upper right corner of the screen and copy-paste the address https://eltechs.com/product/exagear-desktop/.
As soon as you are on the page, you need to get your license of ExaGear by making a purchase. You will receive a message of confirmation with further instructions for downloading and installation. So, when you are done with the purchase and is ready to proceed with the installation the ExaGear Desktop and MetaTrader, you’d better have this email to help you.
So, in general, for setting up MetaTrader on your Raspberry Pi device, you will need to follow the algorithm below:
1. Download and Set up ExaGear Desktop. 2. Launch guest x86 system. 3. Install Wine 4. Setup and launch MetaTrader 4 on your ARM device.
I guess that you will definitely need the detailed installation guide. You can find it in our special article MetaTrader 4 on Raspberry Pi. Just go for it now to learn the installation and configuration tutorial!