Are there any automated trading systems? | Forex Factory

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Are there any automated trading systems?

  • #1
  • First Post: Jun 6, 2007 5:19pm Jun 6, 2007 5:19pm
I think MetaTrader and the indicators are usuful. But I usually don't use them because it takes quite time to test them and it is really painful and stressful to sit infront of the monitor and wait and check for signals all day. I have a full time job. Also, we are not very accurate as much as computers. and it is very stressful and painful to wait for the signals checking it all day.

So I hope there is a program that is based on MT4 and we can set up indicators and trading imformations (enter, close, amount, SL, TP) and then the computer trades by it self when it detects a signal. I think based on current computer technology, it is not difficult to make such a program. If someone make such a program, it will save much more time for testing new trading system and real trading and it will be much more accurate. I really hope someone develope such a program.
When I buy it, it moves down. When I sell it, it moves up.
  • #2
  • Jun 6, 2007 5:22pm Jun 6, 2007 5:22pm
How can you use Metatrader and not have heard of an Expert Advisor(EA)?
  • #3
  • Jun 6, 2007 5:57pm Jun 6, 2007 5:57pm
Is there some aspect of trading you enjoy? Or are you just in it for money?
  • #4
  • Jun 6, 2007 6:02pm Jun 6, 2007 6:02pm
You are correct, it is not difficult to program an EA to take trades mechanically. Just about any strategy can be programmed if it can be clearly and un-ambiguously defined.

Find me a strategy that is profitable when traded mechanically, and I will program it for you.

There is a catch, of course. There are forums on the net loaded with hundreds, if not thousands of traders and programmers testing scores of EA's, looking for years for the one that can be turned loose on an account. The dream, of course, is to sit on the beach sipping cold drinks while the robot makes you a millionaire.

Many are looking. Those that have found it must be on that beach, and aren't on the forums anymore......
  • #5
  • Jun 6, 2007 10:19pm Jun 6, 2007 10:19pm
Quoting blueruby
You are correct, it is not difficult to program an EA to take trades mechanically. Just about any strategy can be programmed if it can be clearly and un-ambiguously defined.

Find me a strategy that is profitable when traded mechanically, and I will program it for you.

There is a catch, of course. There are forums on the net loaded with hundreds, if not thousands of traders and programmers testing scores of EA's, looking for years for the one that can be turned loose on an account. The dream, of course, is to sit on the beach sipping cold drinks while the robot makes you a millionaire.

Many are looking. Those that have found it must be on that beach, and aren't on the forums anymore......

Thanks for your advice. By the way, I looked at EA userguide and it seems pretty complicating. How did you study to creat Experts? How long does it take? Do you have to memorize all commands from the MT4 language dictionary?
When I buy it, it moves down. When I sell it, it moves up.
  • #6
  • Jun 7, 2007 3:56am Jun 7, 2007 3:56am
I really want to study it from the basic and master it. Do I need to study C language to learn it? What do I have to read and study? How long does it take to master it for a newbie? Thanks
When I buy it, it moves down. When I sell it, it moves up.
  • #7
  • Jun 7, 2007 4:07am Jun 7, 2007 4:07am
In the MT4 website you can download the manual and study it. Also, you can dive into already-made EAs and digest as much of the code as you can. But dont fool yourself, coding a somewhat worthy EA is a complex thing and will take a serious effort to master it.
  • #8
  • Edited 6:26am Jun 7, 2007 6:08am | Edited 6:26am
Quoting pujolshomerun
Thanks for your advice. By the way, I looked at EA userguide and it seems pretty complicating. How did you study to creat Experts? How long does it take? Do you have to memorize all commands from the MT4 language dictionary?
WTB's advice is spot on. And, I shouldn't have said "it's not difficult". There are always lots of little things you didn't count on. Sort of like when you take a photograph and when you look at it, it's not at all how you saw it, since the mind filters. When you snapped it, you didn't notice the garbage cans in the background, only the flowering tree. The mind filters out what we don't want to see! The robot does exactly what it's told. It doesn't see charts like we do.

You don't have to memorize much. Look at earlier programs, by yourself or others, and remember how it was done. MT4 is very user friendly. If you have an idea what you want, type, for example "time" and a menu of commands pops up, pick one, highlight it, then hit F1 and the info on that command will show in the terminal frame.

If you've programmed in the past, it's not too hard to catch on to it. If you haven't programmed, you should take a basic course or two. No pun intended.

And, please, do yourself and me a favor - change your signature line! Trust me, we've all felt this way, over and over. But you must be careful about how you program your mind. The subconscious mind is sort of like that EA robot, it will take commands and do what it it told...... Tell yourself every day, "I am a consistently profitable forex trader. I make a good living trading the markets." Think it, be it, do it. Note that I said, "I am" not "I will be".
  • #9
  • Jun 7, 2007 6:27am Jun 7, 2007 6:27am
The best forex programs come from those who best understand forex trading. Anybody can learn a programming language. It take dedication, lots of curiosity, persistence and lots of screen time to master forex.

Learn everything you can about trading forex profitably first. This will be a good founation to build other trading skills on.
  • #10
  • Jun 7, 2007 6:46am Jun 7, 2007 6:46am
On the other hand, programming can teach you a lot about how trading systems and indicators work, and backtesting teaches you a lot about the way the market moves, so programming will therefore accelerate your understanding of such.

That may be the best reason to learn programming, because you aren't going to create an automated system that will do your trading for you and make money.
  • #11
  • Jun 7, 2007 7:11am Jun 7, 2007 7:11am
  •  Trader#0000
  • | Status: Unregistered Trader
Quoting blueruby
And, please, do yourself and me a favor - change your signature line!
Either that or start trading bonds!
  • #12
  • Last Post: Jun 8, 2007 11:35am Jun 8, 2007 11:35am
Quoting pujolshomerun
I think MetaTrader and the indicators are usuful. But I usually don't use them because it takes quite time to test them and it is really painful and stressful to sit infront of the monitor and wait and check for signals all day. I have a full time job. Also, we are not very accurate as much as computers. and it is very stressful and painful to wait for the signals checking it all day.

So I hope there is a program that is based on MT4 and we can set up indicators and trading imformations (enter, close, amount, SL, TP) and then the computer trades by it self when it detects a signal. I think based on current computer technology, it is not difficult to make such a program. If someone make such a program, it will save much more time for testing new trading system and real trading and it will be much more accurate. I really hope someone develope such a program.
I hate to break it to you but one of the first steps of developing an automated system is an in-depth knowledge of the indicators you are using. If you don't have the time and patience now, you're not going to have it when developing a system.

In my experience, developing and maintaining an automated system in working order is much more difficult then discretionary trading.
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