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Automated Trading Systems

  • #1
  • First Post: Dec 29, 2005 2:33pm Dec 29, 2005 2:33pm
Excuse my ignorance, but I am as new as a newie can be. I have not even set up a demo account yet, but I have been learning as much as I can and I have been paper trading.

I work full time. After seeing how quickly the prices can change when I am away from my desk at work, I am concerned about being able to trade while holding down a full time job. I have seen some posts on automated trading systems. Can someone give me more information on this?

Do I have to have some vendor's software package to set up the system?

How do the trades get excuted through my broker?

If I set up a simple trading system with entry and exit points (e.g. moving average crossover system), can I just tell my broker my system and let them execute the trades?

This is all confusing to me. I probably am going to have a lot of questions about this, but these are the ones I can think of off the top of my head.

I hope this starts a lively discussion, because I sure would like to get a lot of feedback.

Thanks
  • #2
  • Dec 29, 2005 3:34pm Dec 29, 2005 3:34pm
You could open a demo account with cmsfx and mess around with thier trading systems. They have 11 built in automated trading systems that you can try and you can set them to just give you recomendations or alarms, or you can have them actually trade for you. You can also build your own system and they include instructions and a good forum to show you how to do this.

I would recomend that when you open your account, you take the option to set up five accounts. That way you can use one account to demo trade manually and annother to trade automated etc.

Good luck and let us know how it works out for you.
Nolite dormiens pungere ursum. -- Latan Proverb.
  • #3
  • Dec 30, 2005 9:14am Dec 30, 2005 9:14am
I personally have been working on an automated system. When I say automated, the only part automated are the triggers. I still decide if the system will be long / short or out.
I still review my charts daily/4 hour / 1 hour. The system trades at the 30 minute mark. The reason is, the system needs to have a confirmation bar as an exit, so if the trade goes against me in the 1 hour time frame, I can’t afford the hits my account may take the start. As I progress, I will move to the 1 hour and up.

The other reason, is the system monitors all majors and a few others (eur/jpy, etc.) I had to automate because my work hours don't permit me to trade the hours that I would like. Once I am able to trade full time, I will then remove more of my automation. When I left this morning I was short the GBP/USD, Eur/USD and long USD/CHF – Keep in mind, this is demo and will be for the next couple of months.

I only want to save my money once for a trading account J

To accept the losses that incur with an automated trading system. I look at it like this. Trading is my business. My system is the manager and every trade opened is an employee. My job of owner is to help my manager make the best decisions possible. Since the markets are never the same, they just look that way. I never know when an employee is going to crap out on me. I have heard it said that to train an employee in the real world can be over 35k-50k – As for me, my employee gets fired if he doesn’t perform after 25-30 pips.

I am ok with the loss hear and there. It's just the cost of doing business.
  • #4
  • Jul 28, 2016 5:21am Jul 28, 2016 5:21am
I like it, try it out !
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  • #5
  • Oct 21, 2017 6:48am Oct 21, 2017 6:48am
Quoting JackintheBox
I like it, try it out ! {file}
Hello jack! Thanks for adding this system! But I wanna know more details about this trading system before practicing in my demo, if possible then please, thanks in advance.
  • #6
  • Oct 21, 2017 11:13pm Oct 21, 2017 11:13pm
Quoting pip_hunter
I personally have been working on an automated system. When I say automated, the only part automated are the triggers. I still decide if the system will be long / short or out. I still review my charts daily/4 hour / 1 hour. The system trades at the 30 minute mark. The reason is, the system needs to have a confirmation bar as an exit, so if the trade goes against me in the 1 hour time frame, I can’t afford the hits my account may take the start. As I progress, I will move to the 1 hour and up. The other reason, is the system monitors all majors...
Hello Hunter! What’s the name of your trading system? Is it trading strategy or trading robot? I am interested to know info about your trading instrument.
  • #7
  • Oct 23, 2017 12:41am Oct 23, 2017 12:41am
How this automated Trading system work? I would like to try this.
  • #8
  • Oct 23, 2017 6:01am Oct 23, 2017 6:01am
Guys, dont be naive. Nobody will give away their system for free if its profitable, that would be idiotic. You are losing your time hoping that you will find something good. The only thing that will happen by using EAs that you find here is you will lose some or all of your money.
  • #9
  • Nov 3, 2017 5:45am Nov 3, 2017 5:45am
As a trader we are not able to control emotions for all times, that’s why it is more appropriate to use automated trading system because it has no emotions. But not at all times. It could be a reason for unfortunate losses.
  • #10
  • Nov 3, 2017 8:31am Nov 3, 2017 8:31am
Quoting BenDunk
As a trader we are not able to control emotions for all times, that’s why it is more appropriate to use automated trading system because it has no emotions. But not at all times. It could be a reason for unfortunate losses.
Rubbish -if automated systems worked we would all have one and the market would crash !
every Saint has a past. Every Sinner has a Future
  • #11
  • Nov 4, 2017 5:08am Nov 4, 2017 5:08am
Quoting basuccess7
Excuse my ignorance, but I am as new as a newie can be. I have not even set up a demo account yet, but I have been learning as much as I can and I have been paper trading. I work full time. After seeing how quickly the prices can change when I am away from my desk at work, I am concerned about being able to trade while holding down a full time job. I have seen some posts on automated trading systems. Can someone give me more information on this? Do I have to have some vendor's software package to set up the system? How do the trades get excuted...
You do not need additional software.
MetaEditor installs with MetaTrader4.
Than you need to open it and write code of your ExpertAdvisor.(if you want to write your owne EA)
If you want to use other EA's than just download it and replace to EA's folder(file-open source folder-MQL4-Experts)
Orders will be executed such as you do it manually.
  • #12
  • Nov 4, 2017 6:07am Nov 4, 2017 6:07am
Quoting BenDunk
As a trader we are not able to control emotions for all times, that’s why it is more appropriate to use automated trading system because it has no emotions. But not at all times. It could be a reason for unfortunate losses.
Nice point. But don’t depend on robot system. Always try to depend on manual trading. Even though it’s a long time process to be an expert on a manual trading. But it has a bright future.
  • #13
  • Nov 9, 2017 4:26am Nov 9, 2017 4:26am
Quoting BenDunk
As a trader we are not able to control emotions for all times, that’s why it is more appropriate to use automated trading system because it has no emotions. But not at all times. It could be a reason for unfortunate losses.
I don’t got your point exactly , using EA or robot is another issue and emotions when trading is totally different from EA. Of course robot has no emotions but I don’t like to depend on this approach. I always like to control my emotions by proper trading discipline.
  • #14
  • Nov 9, 2017 4:51am Nov 9, 2017 4:51am
My message is clear , there is nothing 100% in Forex trading and we can’t predict the real faction of this trading place for all time . So sometimes we have to depend on luck that call emotional trading. But if we trade by using robot we can be profitable because there is no emotional chapter.
  • #15
  • Mar 31, 2018 10:42am Mar 31, 2018 10:42am
Quoting BenDunk
. So sometimes we have to depend on luck
Can you please elaborate this point? Besides, I don’t agree with your opinion on EA trading.
  • #16
  • Apr 2, 2018 1:19pm Apr 2, 2018 1:19pm
Quoting basuccess7
Excuse my ignorance, but I am as new as a newie can be. I have not even set up a demo account yet, but I have been learning as much as I can and I have been paper trading. I work full time. After seeing how quickly the prices can change when I am away from my desk at work, I am concerned about being able to trade while holding down a full time job. I have seen some posts on automated trading systems. Can someone give me more information on this? Do I have to have some vendor's software package to set up the system? How do the trades get excuted...
Automated trading system is for expert. You are too new to think about it. You didn't even open your demo account yet. Your first job is to learn the art of trading. When you will get consistent profit, then you can go for automated trading system.
  • #17
  • Apr 2, 2018 2:49pm Apr 2, 2018 2:49pm
Quoting JonathanHob
{quote} Automated trading system is for expert. You are too new to think about it. You didn't even open your demo account yet. Your first job is to learn the art of trading. When you will get consistent profit, then you can go for automated trading system.
Agree with you; it’s a skill based profession so, new traders need to build their trading skill first! There is no shortcut way of success by using others trading system or EA.
  • #18
  • Apr 17, 2018 10:15am Apr 17, 2018 10:15am
The better way for Automated trading system is using some professional EA. However, the good EAs are paid. For example the "StereoTrader" has already an automatically trading option, but the license for using it is paid. Good luck.
  • #19
  • Last Post: May 21, 2018 7:24am May 21, 2018 7:24am
Quoting BenDunk
As a trader we are not able to control emotions for all times, that’s why it is more appropriate to use automated trading system because it has no emotions. But not at all times. It could be a reason for unfortunate losses.
i don't know what actually you have tried to understand . LOl
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