I think I forgot to give you the final number. On the day I recorded the video I accumulated $1700 in total revenue (after the 20% cut for mql5). I believe it is a great way to share your trading strategies or tools with a big audience. It can be your chance to generate enough money for your first trading account. I know that the process of learning a programming language can be really frustrating in the beginning. But trust me, it is worth it in the long run!! Feel free to watch some of the free tutorials on this channel or enroll for my complete course if you want to have a headstart: en.bmtrading.de/mt5-masterclass/ Best of luck and good trades for you
Congratulations. I have been trying to absorb all you have been teaching on your channel. I really like that part, but I am so happy you have a passive income stream. Keep up the good work!
Good video with a lot of food for thought. Thank you for the mql5 market analysis, this could provide a nice little income on the side if you have a successful EA.
Wow! For some reason, I always get motivated after watching your videos but after watching this one, I got hope that 1 day I will be where you are in trading life. 👌👌👌
@@EEMBMinecraft2442 Haha thank you but coding is more like structuring and stuff. I am really bad with creating visually beautiful logos and things like that :D
This video has inspired me to give this a try - I can already write my own EA’s and tools but the one thing that has stopped me publishing anything is that I simply do not have the time to provide any kind of support, I’m just too busy. I work as a software dev - been doing it for over 20 years, so Mql5 programming was easy for me to learn…..
i'm really happy to see Rene Balke is doing well. i'm miserable. my EA's are horrible; it's a matter of complexity and simplicity. anyhow. it would be nicer, if Rene offered for sale, some more EAs... there was this one grid EA, like Waka waka...they tend to crash-alot. like, the equity balance falls off a cliff. but, i like the grid. it would be nice to have an RSI grid EA in mt4, not mt5 for sale. and, something with a means to overcome grid-trading short falls...perhaps an expanding grid size; like exponentially expanding...as a safety measure. other than that...maybe a future world-tour, with plenty of publicity in advance, would be nice. maybe make a Rene Balke doll...it sounds weird...
Rene, could you please tell us the best way to declare income? I’ve been informed that invoices are not required, which means I can’t use the company to withdraw profits into the business account. How did you handle this issue when it came to taxes?
Hi Rene. I have a question: How would you best monetize a working expert adviser strategy? I guess you would never sell your best EA to someone else, right? Because obviously you can make much more from it keeping it a proprietary strategy. So personally, as an individual, my strategy would be as follows: Given my EA is well tested and working according to the rules, I would enlist into a trustworthy Prop Trading firm and just let it run. This will give me lower yield as I would run it with low risk, but access to larger sums of capital. As is known, big returns come from low risk/return ratios and access to huge capital, not from smaller capital and huge returns. Selling a really good EA to anyone would just make no sense, so basically (when selling EAs), the best tradeoff would be to take an average, already known strategy, creating an EA from it then selling it and basically get paid for the programming?
I have a slightly different opinion here. I do not believe that there are EAs that just "generate money". It is always a tradeoff of chance and risk. Personally I would not feel bad selling my best EA. But everyone is different and thinks differently about this. I might be wrong ;)
@@ReneBalke Thats very interesting. But you would say that there is a varying quality in EAs, woudn`t you? Lets define quality as drawdowns relative to returns. If so and if you happen to have a really good strategy, selling it for a few hundred bucks wouldn`t make best economic sense. Wouldn`t you agree with that? Isnt that the least profitable way to monetize it? Assuming economics is your only objective, leaving asides motivations like helping others and so on.
@@simonschwarzmann2005 Yeah I think so.. some ideas just do not make sense :D So there are also really bad EAs and I think that supports your point here ;)
The mql5 market does the licensing so people cannot just ship your program around. Also they don't deliver the source code. Still there might be ways to break their security mechanisms. But that is a risk with every software that you decide to send out into the world :D
hi rene, was ich nicht verstehe ist (mal abgesehen von dem aufwand überhaupt programmieren zu gönnen bzw zu lernen) dass man doch überhaupt erstmal eine funktionierende strategie haben muss die manuell profitabel ist und die man dann automatisieren lässt oder wie ist das ?
aber dann versteh ich nicht wie du eine strategien automatisieren kannst wenn die doch manuell nicht bereits funzt. Zuerst muss der Ansatz doch ünerhaupt profitabel sein. Der Algo macht doch nix anderes als das was du machst, bloß automatisiert. Oder nicht?
Hello. I was able to make an expert trading only us30. For an 1000 usd account and a volume 0.05 generate more that 1500% since 01/01/2022. The problème is in the start the equity may drop to 85%. Any idée to avoid that. Note. No stoploss is used
hey rene hope ur doin well. id like to know how to add licence and property proofs to our indicators mt4 so in case we want to sell or give em as a free trial during a specific time thanks
Yes I am. Hope you are doing fine as well :) the easiest way to distribute your products is using the mql5 market. It does the licensing and also provides a free demo version that can only be used in the tester ;)
Thanks for ur response sir. I d like to know other than mlq5 is there any ways like to give em to a friend or is mlq5 is the only way and it does everything for u thanks again
@@ReneBalke awesome thanks. Ya just the process of publishing. I have an ea I wanna publish but haven’t wrote protecting against errors that occur due to different account sizes and different pairs. Runs great EURUSD tho
Wow, I'm surprised at how much you were able to make in such a short time! Granted advertisement is a bit easier for you but if I could generate even 5% of that I would be happy. My only concern is what happens when people aren't happy with my EA because they assumed it would be a money printer or they blew their account using it incorrectly. I'm really not interested in handling complaints like that.
Yeah I believe it is a great chance for everyone :) To handle these complaints you have to choose the right wording I think. You should never promise any profits (this is not allowed on mql5 anyway). And in the end people can test it in the strategy tester first and also in the demo if they bought it. They don't have to invest their money right away.. And nobody can predict the future that is just how trading is ;)
I am not a tax consultant so I can't really say much. But for me (in Germany) I have to pay taxes for the sales. The VAT seems to be handled by the mql5 market though. Please make sure you speak with an expert about this who knows your situation and your circumstances :)
Dear Rene, I'm very interested in using the EA's, because I'm not a programmer and I don't think I will ever be one, just because learning to code takes a lot of time and I have lack of it. What I would like to know regarding the evaluation/challenges for propfirms, is which EA do you think would perform good enough within the drawdown limitations (10%?) to pass. Do you think your EA (Range Break out, or any other) could do the trick? Thanks for all your topnotch content!!
Thanks for the nice words :) I honestly do not know much about the prop trading firms. I am not a huge fan and never tried to pass their tests. But I would just recomment to do some testing with different EAs. You will see a lot of things in the strategy tester already ;)
@@KaliteyClips Hey, that are the same reasons why I decided to not trade manually. I don't get how people are able to :D Yeah funded accounts might be a good way to make good money. Maybe I will look into it someday. Hope you will be able to become funded by some company :)
@@ReneBalke Good to see I'm not alone =D I think that's the biggest reason why only a few % of traders make money in the long run. In 2017 I've had some success and because of that I blew my account...then you think/assume you won't make similar mistakes, but it's really hard. At one side you are on your own "against" the markets and no one tells you what to do or do not, but at the same time that's the drawback as well since no one will stop you from opening revenge trades or adjust your stoploss. For someone like you (already making money with youtube, MQL5 market place and professional coding) it should be possible to get funded and let the EA's do the work for you :D One more technical question, when I tried to let the EA (Center EA for MT4) run it didn't work...do you always need a VPS server? So you need to buy a membership for this and will this probably solve the problem of not working? OMG I'm such a rooky in this EA world 😢
Depends on the EA and the testing environment. Should be less accurate for high frequency scalping strategies but can be rather realistic for long term strategies :)
I do not believe that there is an "accurate" indicator. Indicators will always have good and bad market periods. To find one that always works will be a hard challenge.
@@ReneBalke I have watched this video and created a ma crossover, But I am not able to do the same with Price Crossover, But still I will watch it again and try again
@@محمدحامد-ظ5ط2ض I am pretty sure you can become rich with forex.. But it also includes a lot of risks. Maybe you want to learn more about it and you will understand how it works :)
Bro please do your own testing with the free demo. If you like it you can use it of course. But I can't promise you any profits since the future is uncertain.
@@adewoleadebayo8848 oh okay. You deposit does not really matter. If you use a really small lotsize (0.01) you can also trade with a $200 account I think. But it is always up to your personal situation if you want to take specific risks. I always recommend using the tester. You can choose a balance there and the you can at least see the expected fluctuations.
Good job, I might do this myself. Apart from obvious backtests, you can also link to a live Myfxbook account. In that way the customer can see that it works in reality.
I think I forgot to give you the final number. On the day I recorded the video I accumulated $1700 in total revenue (after the 20% cut for mql5). I believe it is a great way to share your trading strategies or tools with a big audience. It can be your chance to generate enough money for your first trading account.
I know that the process of learning a programming language can be really frustrating in the beginning. But trust me, it is worth it in the long run!! Feel free to watch some of the free tutorials on this channel or enroll for my complete course if you want to have a headstart: en.bmtrading.de/mt5-masterclass/
Best of luck and good trades for you
What programing language do you use?
@@k.zngobese4571 for writing mt5 programs I use mql5
Great job! Hope the sales kept up!
Good work.
I'm a software engineer with about 7yrs of experience. You've inspired me to start publishing my bots on MQL5.
Great to hear that :)
Good stuff... It would be great to have a follow-up video in a few months to see how sales tail off after your initial video / marketing effort.
Yeah I think I can do this ;) I am also really curious how it will develop :)
you have taught me a lot all the way from Zimbabwe
Rene, Very happy for you! Thank you for sharing this information.
You created yourself an empire... You deserve it bro. Your work is good
Thank you! :)
Congratulations. I have been trying to absorb all you have been teaching on your channel. I really like that part, but I am so happy you have a passive income stream. Keep up the good work!
Good video with a lot of food for thought. Thank you for the mql5 market analysis, this could provide a nice little income on the side if you have a successful EA.
Thanks for this! You just answered a major question I have been having in mind for sometime now 😊
Great :)
Great Job Rene!, you are inspiring me to take your coding course.
Well done, Man. Good job!
Wow! For some reason, I always get motivated after watching your videos but after watching this one, I got hope that 1 day I will be where you are in trading life. 👌👌👌
Yess it is definitely worth the effort !! Just keep going and you will get there :)
nice! congrats man! and thank you for sharing!
Thanks :)
A good seed makes a good crop. Keep up the good work!
Kudos to your hard work!
Thank you :)
Hey René, thank you for giving us this insight. This was really interesting. You got that cool store logo too..😄 keep up the work! Have a great day.
Bro my logo is not really good I am such a bad designer :D:D
@@ReneBalke your code design tells a different story 😋
@@EEMBMinecraft2442 Haha thank you but coding is more like structuring and stuff. I am really bad with creating visually beautiful logos and things like that :D
This video has inspired me to give this a try - I can already write my own EA’s and tools but the one thing that has stopped me publishing anything is that I simply do not have the time to provide any kind of support, I’m just too busy.
I work as a software dev - been doing it for over 20 years, so Mql5 programming was easy for me to learn…..
Can I get in contact with you? I’m trying to find a coder for my strategy. Let me know.
rene, thank you so much for sharing.
Hello Sir,
I mistakenly add money to mtql5. i want to get it back can you help me. how can i do that.
i'm really happy to see Rene Balke is doing well. i'm miserable. my EA's are horrible; it's a matter of complexity and simplicity. anyhow. it would be nicer, if Rene offered for sale, some more EAs...
there was this one grid EA, like Waka waka...they tend to crash-alot. like, the equity balance falls off a cliff. but, i like the grid. it would be nice to have an RSI grid EA in mt4, not mt5 for sale.
and, something with a means to overcome grid-trading short falls...perhaps an expanding grid size; like exponentially expanding...as a safety measure. other than that...maybe a future world-tour, with plenty of publicity in advance, would be nice. maybe make a Rene Balke doll...it sounds weird...
Rene, could you please tell us the best way to declare income? I’ve been informed that invoices are not required, which means I can’t use the company to withdraw profits into the business account. How did you handle this issue when it came to taxes?
Hi Rene. I have a question: How would you best monetize a working expert adviser strategy? I guess you would never sell your best EA to someone else, right? Because obviously you can make much more from it keeping it a proprietary strategy. So personally, as an individual, my strategy would be as follows: Given my EA is well tested and working according to the rules, I would enlist into a trustworthy Prop Trading firm and just let it run. This will give me lower yield as I would run it with low risk, but access to larger sums of capital. As is known, big returns come from low risk/return ratios and access to huge capital, not from smaller capital and huge returns.
Selling a really good EA to anyone would just make no sense, so basically (when selling EAs), the best tradeoff would be to take an average, already known strategy, creating an EA from it then selling it and basically get paid for the programming?
I have a slightly different opinion here. I do not believe that there are EAs that just "generate money". It is always a tradeoff of chance and risk. Personally I would not feel bad selling my best EA. But everyone is different and thinks differently about this. I might be wrong ;)
@@ReneBalke Thats very interesting. But you would say that there is a varying quality in EAs, woudn`t you? Lets define quality as drawdowns relative to returns. If so and if you happen to have a really good strategy, selling it for a few hundred bucks wouldn`t make best economic sense. Wouldn`t you agree with that? Isnt that the least profitable way to monetize it? Assuming economics is your only objective, leaving asides motivations like helping others and so on.
@@simonschwarzmann2005 Yeah I think so.. some ideas just do not make sense :D So there are also really bad EAs and I think that supports your point here ;)
Great. How do you protect your program from being copied. I'm busy writing my own EA and still need to get all the details before marketing it.
The mql5 market does the licensing so people cannot just ship your program around. Also they don't deliver the source code. Still there might be ways to break their security mechanisms. But that is a risk with every software that you decide to send out into the world :D
@@ReneBalke great to know they take care of the license logistics.
I have programming experience but I never created a bot for MT5 before, when I get the urge I'll try
how to make a withdrawal from mql?
are you getting order currently?
bro how to know commission before open trade in mql5? mql4 just called ordercommission()
You can search for historical deals in the history and then take the deal commission from there ;)
hi rene, was ich nicht verstehe ist (mal abgesehen von dem aufwand überhaupt programmieren zu gönnen bzw zu lernen) dass man doch überhaupt erstmal eine funktionierende strategie haben muss die manuell profitabel ist und die man dann automatisieren lässt oder wie ist das ?
korrekt aber die programmierung hilft dabei extrem, da man deutlich effektiver testen kann
okay aber jeder EA entwickler muss erstmal auch ein profitabler manueller trader sein oder verstehe ich es falsch?
@@ThePrinceOfPersia muss nicht. ich war manuell nie profitabel.
aber dann versteh ich nicht wie du eine strategien automatisieren kannst wenn die doch manuell nicht bereits funzt. Zuerst muss der Ansatz doch ünerhaupt profitabel sein. Der Algo macht doch nix anderes als das was du machst, bloß automatisiert. Oder nicht?
@@ThePrinceOfPersia schau dir am besten ein paar videos auf meinem kanal an, wenn dich das thema interessiert.
how to connect real account?
Felicitaciones!!!
Hello.
I was able to make an expert trading only us30.
For an 1000 usd account and a volume 0.05 generate more that 1500% since 01/01/2022. The problème is in the start the equity may drop to 85%. Any idée to avoid that.
Note. No stoploss is used
I don't really know I am sorry. There is no general solution for this I think :/
hey, how do you give the demo without giving the full account ?
Hey, I do not understand the question. But the mql5 market is taking care of the licensing if you were asking for this.
hey rene hope ur doin well. id like to know how to add licence and property proofs to our indicators mt4 so in case we want to sell or give em as a free trial during a specific time thanks
Yes I am. Hope you are doing fine as well :) the easiest way to distribute your products is using the mql5 market. It does the licensing and also provides a free demo version that can only be used in the tester ;)
Thanks for ur response sir. I d like to know other than mlq5 is there any ways like to give em to a friend or is mlq5 is the only way and it does everything for u thanks again
@@ouss99-ama I am not sure about that and never tried.
Thanks alot sir for all your 🙏🙏
Can you do video on publishing. I hit errors that I don’t hit during running the code.
Hm maybe I will do this in the future but I did not plan my next video yet :)
@@ReneBalke awesome thanks. Ya just the process of publishing. I have an ea I wanna publish but haven’t wrote protecting against errors that occur due to different account sizes and different pairs. Runs great EURUSD tho
you should run it on a demo account and make a signal as well on mq5 that's how people decide if they want to buy it and check it's trading history
I already run it in a live trading account and monitor it in a myfxbook portfolio. People can see every single trade there :)
@@ReneBalke share Link there?
@@odioncinar3753 www.myfxbook.com/members/BMTrading/bm-trading-show-1/3276385
@@ReneBalke has the bot passed any firm account and doing great on firms live account?
@@odioncinar3753 My scalping project passed the evaluation and is now running in a live account for 5 days.
How can we send an email alert via an EA? Thanks.
yes have a look at the SendMail function :)
Wow, I'm surprised at how much you were able to make in such a short time! Granted advertisement is a bit easier for you but if I could generate even 5% of that I would be happy.
My only concern is what happens when people aren't happy with my EA because they assumed it would be a money printer or they blew their account using it incorrectly. I'm really not interested in handling complaints like that.
Yeah I believe it is a great chance for everyone :) To handle these complaints you have to choose the right wording I think. You should never promise any profits (this is not allowed on mql5 anyway). And in the end people can test it in the strategy tester first and also in the demo if they bought it. They don't have to invest their money right away.. And nobody can predict the future that is just how trading is ;)
What is the situation with paying taxes after selling programs on mql5? Should you settle them yourself, or is mql5 doing it?
I am not a tax consultant so I can't really say much. But for me (in Germany) I have to pay taxes for the sales. The VAT seems to be handled by the mql5 market though. Please make sure you speak with an expert about this who knows your situation and your circumstances :)
Dear Rene, I'm very interested in using the EA's, because I'm not a programmer and I don't think I will ever be one, just because learning to code takes a lot of time and I have lack of it. What I would like to know regarding the evaluation/challenges for propfirms, is which EA do you think would perform good enough within the drawdown limitations (10%?) to pass. Do you think your EA (Range Break out, or any other) could do the trick? Thanks for all your topnotch content!!
Thanks for the nice words :) I honestly do not know much about the prop trading firms. I am not a huge fan and never tried to pass their tests. But I would just recomment to do some testing with different EAs. You will see a lot of things in the strategy tester already ;)
@@KaliteyClips Hey, that are the same reasons why I decided to not trade manually. I don't get how people are able to :D Yeah funded accounts might be a good way to make good money. Maybe I will look into it someday. Hope you will be able to become funded by some company :)
@@ReneBalke Good to see I'm not alone =D I think that's the biggest reason why only a few % of traders make money in the long run. In 2017 I've had some success and because of that I blew my account...then you think/assume you won't make similar mistakes, but it's really hard. At one side you are on your own "against" the markets and no one tells you what to do or do not, but at the same time that's the drawback as well since no one will stop you from opening revenge trades or adjust your stoploss.
For someone like you (already making money with youtube, MQL5 market place and professional coding) it should be possible to get funded and let the EA's do the work for you :D
One more technical question, when I tried to let the EA (Center EA for MT4) run it didn't work...do you always need a VPS server? So you need to buy a membership for this and will this probably solve the problem of not working? OMG I'm such a rooky in this EA world 😢
🙏Namaste sir, I'm from India my English not good but I want Fee EA for Testing, please help me Dear sir 🙏
Can you also try to code for Ctrader. I know Ctrader do not have slippage on Limit orders isn't it? That's the good thing.
Hey I never worked with it and think I will focus on mql5 here. But I cannot believe that you never get slippage there :O
Is this a subscription or once off payment?
For the EA you can do both. Just check it out in the mql5 market ;)
Are ea tester results valid or same as real ea trading results???
Depends on the EA and the testing environment. Should be less accurate for high frequency scalping strategies but can be rather realistic for long term strategies :)
Can you help us get an indicator which is accurate
I do not believe that there is an "accurate" indicator. Indicators will always have good and bad market periods. To find one that always works will be a hard challenge.
@@ReneBalke thanks
Forget cAlgo, I will learn MQL5
Dankeschön
Plz help me to create a Price MA crossover EA 🙏🏻🙏🏻🙏🏻
Have a look at this: th-cam.com/video/T78Q7K3c11s/w-d-xo.html
Not exactly what you asked for but really similar and maybe a good start :)
@@ReneBalke I have watched this video and created a ma crossover, But I am not able to do the same with Price Crossover, But still I will watch it again and try again
there challenges are difficult even if one has a profitable strategy u can bearly (🤣🤣 bearly u get)pass such challenges
Possible for using in mt4?
Yeah sure. I uploaded it for mt4 and mt5.
Hey! Rene will like to send my bot for a review soon if you're okay with it?
Hey, I am sorry but I do not think I will review it on the channel. Right now I focus on mql5 EA that many people have access to.
Hi Rene
I am a physician and 5 years fx experience .
I want to learn mql4 language .
Is it usefull
Please tell me .
Can I be rich from my strategy
Yeah I think it is worth it :) but after all it is no "get rich quick" method :D
@@ReneBalke
Yes I am not want it be quick
But rich from fx is true not a jock ??
@@محمدحامد-ظ5ط2ض I am pretty sure you can become rich with forex.. But it also includes a lot of risks. Maybe you want to learn more about it and you will understand how it works :)
I have 200 USD to start on real account. If I buy your EA it should work good?
Bro please do your own testing with the free demo. If you like it you can use it of course. But I can't promise you any profits since the future is uncertain.
How much lowest cost to start with your EA?
Hey I don't really understand.. you can buy the EA for 97$ :)
@@ReneBalke he's asking how much is required for a capital to use with the EA.
@@adewoleadebayo8848 oh okay. You deposit does not really matter. If you use a really small lotsize (0.01) you can also trade with a $200 account I think. But it is always up to your personal situation if you want to take specific risks. I always recommend using the tester. You can choose a balance there and the you can at least see the expected fluctuations.
Would love to have a conversation about developing my trade strategy into an EA! René are you interested??
Hey, no I am sorry but I do not offer any programming services. Hope you can find someone for the job :)
Yo change tittle good video says LIVE not LIFE and good job
Oh yeah true :D
Thanks for the hint :D
Looking like EA passing v3 i have the EA with mq4 file 🤣
Can we make money with your robot?
Sure you can but it is not a money printer.. Unfortunately this is not how trading works. It is always a tradeoff of chance and risk.
@Rene balke, I like how you answered this question.
@@skhumbuzocele1330 Yeah it is a tough question and I don't think everyone wants to hear the answer I gave.. But we gotta be honest here ;)
sir i want make a ea sir please make it sir for me
Bro I am sorry but I do not offer programming services.
@@ReneBalke sir please make me it simple sir
sir i want a draw a line or level on chart when market touch then open order if close below or up then close on the current time fraME
@@ReneBalke sir i am wait for your reply please make me this ea as gift please
@@MuhammadUsman-xk9sz I am really sorry but I do not offer this service...
🙏🙏🙏
Good job, I might do this myself. Apart from obvious backtests, you can also link to a live Myfxbook account. In that way the customer can see that it works in reality.
Yeah I did that ;)