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Joined Sep 2006
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Status: Elevating the way to success
|585 Posts
Quoting ycomp
Disliked
just to be clear, you mean they let you run MT4 Expert Advisors? or do you mean they just have APIs you can hook up to?
Ignored
Mostly just API's, that tend to be more refined than MT4 anyways. It all works on the same principle though, automated trading. I'm sure quite a few of those brokers would allow you to pipe it in through MT4 if you wanted.
Here's an idea - dunno whether it will work.
Run the ea in a demo on a different broker with similar prices. Program the ea to dump to a file whenever there is a buy or sell signal. On the real acct EA, program to poll for the buy file/ sell file every x ms. Once the file is located execute the trade. This way, they will not know what the ea is doing and they will not discover what your TPs and SLs are. Only problem is there may be some slippage on execution.
I formed a parternship for capital, taxes and spreading out risk. There is always people interested.... and the partners provide intellect in areas I don't necessarily have - sales, marketing , etc.... - Also, I kept ea's on my own computer so I would invoice the client/split profits. I log into their account to trade.
dunno if this is the right method.. .but a method. I agree with sliverb.. make a lot of ea's ... ITs better to have a high hit rate and
more ea's trading than a medium hit rate with a lot of trades. You need a lot of ways to spread out the risk and grow quickly.
My approach would be along the lines of SilverB and Jacko. You accept the fact that the first profitable EA you have will not have produce a lot of profits early on, and you actually keep it 'crippled' by using any profits it produces in order to fund other 'profitable' EAs. Doing this would allow you to diversify you your income while still keeping all your invested money in a high risk/high return setting(the Forex market). Oh and before your profits begin to explode from your network of EAs that were all funded off of each other I would either find one hell of a programmer (not a self-taught programmer mind you!) or go to a college and take some classes regarding "Program Maintenance" because even the best program needs some upkeep if it is going to continue to run "properly." I mean, image what would have happened if when Microsoft released a new versions of Windows they didn't update it. About half of programming is upkeep.
Oh and Jacko's idea is just brilliant, although I would definitely just do it on a blog, not FF. It would be a lot easier to automate the updating of a blog then it would be to try to get a program to post on a forum I think!
no way would I hire a programmer. - I think most would be a bunch of thieves. Learn to program yourself and use an already developed ea to modify that has good mm already built.
I would rather teach someone to modify ea's.. I have yet to have someone take me up on it. Most are just gimme gimme gimme people.
Waste of effort.
