PipWardenBlog
Automated forex trading, explained without the hype
Guides to running an MT5 bot, sizing positions and staying out of trouble around the news. No profit screenshots, no "passive income", just how it works.
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MT5 automationHow to install an Expert Advisor in MT5, step by stepHow to install an Expert Advisor in MT5: the right folder, Algo Trading permissions, WebRequest URLs, and how to check in the Experts tab that the EA runs.News and marketsHigh-impact news in forex: what happens to spreads and stopsWhat high-impact news in forex does to spreads, slippage and stop fills around NFP, CPI and FOMC, how EA news filters work and how to choose a blackout window.Getting startedForex trading bots: an honest guide to what they can and cannot doWhat a forex trading bot does on MT5, what it cannot do, why profit claims are a red flag, and 8 risk-control questions to ask before you install one.Risk managementHow to calculate lot size: the formula with forex and index examplesHow to calculate lot size, with worked examples for EURUSD, USDJPY, gold and NAS100: the formula, MT5's tick value, why you round down and when to skip.
Getting started
What automated trading is, what it needs and what it cannot do.
How to test an EA on a demo account: a 30-day checklistHow to test an EA on a demo account in 30 days: a week-by-week MT5 plan that checks behaviour, not profit, from disconnects and errors to your risk limits.Forex trading bots: an honest guide to what they can and cannot doWhat a forex trading bot does on MT5, what it cannot do, why profit claims are a red flag, and 8 risk-control questions to ask before you install one.
MT5 automation
Expert Advisors, VPS hosting, brokers and keeping MetaTrader 5 running.
Do you need a VPS for your EA? Home PC, Mac and VPS comparedDo you need a VPS for your EA? Home PC, Mac, MetaQuotes hosting or a Windows VPS compared: costs, when latency matters, and what stops when MT5 goes offline.Can you run an EA on MT5 mobile? No. Here is what works insteadYou cannot run an EA on MT5 mobile: the Android and iPhone apps cannot load one. Why not, the setups that do work, and how to manage an EA from your phone.MT5 Algo Trading button: errors 10027, 10026 and why it turns offWhat the MT5 Algo Trading button controls, why it switches off by itself, and how to fix AutoTrading disabled by client (10027) and by server (10026).How to install an Expert Advisor in MT5, step by stepHow to install an Expert Advisor in MT5: the right folder, Algo Trading permissions, WebRequest URLs, and how to check in the Experts tab that the EA runs.EA not taking trades? Broken, or deciding not to tradeEA not taking trades in MT5? Tell a broken setup from an EA that is choosing not to trade: permissions, Journal error codes, skip reasons and demo vs live.
Risk management
Position sizing, stop losses, drawdown and the limits that keep an account alive.
How to set a daily loss limit (and why it is not a hard cap)How to set a daily loss limit: size it against your risk per trade, decide what counts and when the day starts, and see why open trades can push a day past it.What lot size for a $100 account? The honest mathLot size for a $100 account: 0.01 lot of EURUSD fits 1% risk only with a stop of 10 pips or less. The math, the balance each stop needs, gold and cent accounts.How to calculate lot size: the formula with forex and index examplesHow to calculate lot size, with worked examples for EURUSD, USDJPY, gold and NAS100: the formula, MT5's tick value, why you round down and when to skip.
News and markets
High-impact releases, spreads, sessions and how they move the market.
Stop loss hit but price didn't reach it? The chart shows only the bidStop loss hit but price didn't reach it? MT5 charts show the bid, but a short's stop triggers on the ask. Why spreads spike, and how to check your own trade.High-impact news in forex: what happens to spreads and stopsWhat high-impact news in forex does to spreads, slippage and stop fills around NFP, CPI and FOMC, how EA news filters work and how to choose a blackout window.Forex rollover spread: why spreads widen at 5 pm New YorkForex rollover spread explained: why spreads widen at 5 pm New York, the UTC times through the 2026 clock changes, and how an EA can skip the spike.
Prop firms
Challenge rules, drawdown limits and running an EA inside them.
Prop firm EA rules: which firms allow EAs and what gets bannedProp firm EA rules as of October 2026: which firms allow Expert Advisors, what they ban (HFT, arbitrage, copied strategies), request limits and news windows.Prop firm daily drawdown explained: equity, balance and reset timesProp firm daily drawdown explained: how the daily loss line is set, why floating losses count, when the day resets, and trailing vs static max loss.
The honest truth
Scams, hype and the numbers the industry would rather you did not read.
Why most forex traders lose money: what the 74-89% figure meansWhy do most forex traders lose money? What ESMA's 74-89% figure measures, how leverage, costs and losing streaks drive it, and what automation cannot change.How to spot a forex robot scam: a 15-point checklistHow to spot a forex robot scam: the red flags the CFTC names, how fake track records are built, and a 15-point checklist that we apply to our own product.AI forex trading bots: what the AI actually doesWhat the AI in an AI forex trading bot really does, why no model reliably predicts price, where ChatGPT-style models fit in MT5, and what the CFTC warns about.
Free calculators
No sign-up. Built for phones.
Free toolPosition size calculatorWork out the lot size for a trade from your balance, the risk you accept and your stop. Forex, gold and index CFDs, rounded down to your broker's volume step.Free toolGold lot size calculatorFree XAUUSD lot size calculator. Enter your stop in dollars or pips, pick the $0.01 or $0.10 pip convention, and see the real loss at the stop after rounding down.Free toolPip value calculatorFind what one pip is worth for any lot size and account currency: 28 forex pairs, gold, silver, index CFDs and bitcoin, per 1.00, 0.10 and 0.01 lot.
Educational content, not financial advice. Forex and CFDs are traded on margin and are high risk: you can lose money, and more than your deposit with some brokers. Examples use made-up numbers and show no real results. Read the risk disclosure.