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No Expert Advisor can replace human mind

  • #21
  • Jul 18, 2011 8:59pm Jul 18, 2011 8:59pm
Quoting hanover
Paul,

I agree that even the most discretionary technical strategy could potentially be coded. It would be a case of sitting down with the trader, putting a basic design together, and then incrementally adding all of his nuances, over a long period of time. There would likely be basic rules, then exceptions to these rules, then exceptions to the exceptions, and so on.

David
I agree with what you say.

Many of the items you mention aren't simple/possible to code into an MT4 EA.

I think the job requires a more sophisticated development tool which has far more capabilities than you have at your disposal within the basic MT4 environment.

Regards, Paul.
  • #22
  • Jul 19, 2011 8:41am Jul 19, 2011 8:41am
Quoting pah
I agree with what you say.

Many of the items you mention aren't simple/possible to code into an MT4 EA.

I think the job requires a more sophisticated development tool which has far more capabilities than you have at your disposal within the basic MT4 environment.

Regards, Paul.
The problem is not any lack of capability within MT4, it is the sheer complexity needed to convert discretionary trading abstracts into any kind of mathematical formula.
  • #23
  • Jul 19, 2011 9:13am Jul 19, 2011 9:13am
Quoting hanover
The problem is not any lack of capability within MT4, it is the sheer complexity needed to convert discretionary trading abstracts into any kind of mathematical formula.
Well that's the issue, if you can't convert to such a formula then you need to approach it another way. I'm a delphi programmer by trade but have 'dabbled' with expert systems and the like in Prolog for example (do you know it).

Such development tools are geared towards the more grey areas of logic and applying subtle rules that need to interact properly to achieve the desired decision.

MT4 is very good at what it does up to a point but beyond that it can't cope and hinders development because everything has to be reduced to maths for it to work.

Just my opinion. It would make a very interesting project.

Regards, Paul.
  • #24
  • Jul 19, 2011 11:37pm Jul 19, 2011 11:37pm
Quoting pah
Well that's the issue, if you can't convert to such a formula then you need to approach it another way. I'm a delphi programmer by trade but have 'dabbled' with expert systems and the like in Prolog for example (do you know it). ........
Paul,

I'm not familiar with Prolog. I flirted briefly with older versions of Delphi (c. 1999), and its underlying language, Object Pascal.

I outlined what I saw as some of the key concepts in post #20. However, these probably reflect my own approach to trading; it's probably fair to say that there are as many approaches as there are traders.

If Prolog is better able to embrace discretionary trading abstracts than a 'procedural' language like MQL4, then it would obviously be an advantage. But to run the EA you'd need to somehow interface it to a suitable trading platform, of course.

Should you undertake such a project, I wish you every success.

David
  • #25
  • Jul 19, 2011 11:46pm Jul 19, 2011 11:46pm
Quoting hanover
Paul,
I outlined what I saw as some of the key concepts in post #20. However, these probably reflect my own approach to trading; it's probably fair to say that there are as many approaches as there are traders.
You're right, so many ways to skin a cat.

Quoting hanover
Paul,

If Prolog is better able to embrace discretionary trading abstracts than a 'procedural' language like MQL4, then it would obviously be an advantage. But to run the EA you'd need to somehow interface it to a suitable trading platform, of course.
In the first instance I'd simply write a file saying buy this, sell that, etc. which a regular EA could detect and act upon. It's a pity there is no documented API/wrappers for interaction with the MT4 servers, that would be faster/easier.

Quoting hanover
Paul,
Should you undertake such a project, I wish you every success.
Thanks, though I think I'd need a lot more spare time

Regards, Paul.

P.S. No cats were harmed during the making of this reply...
  • #26
  • Jul 20, 2011 1:49am Jul 20, 2011 1:49am
Blah blah blah

Just because YOU couldn't create a profitable EA doesn't mean that they don't exist.

I love the authority with which all these folks are convinced that EAs can't work long term. It is always the nay sayers that eat crow, just like when Kasparov lost to Deep Blue.

Quoting Expert44
No Expert Advisor can replace human mind.
This is my belief after many years of dealing with market.

There were times when I was winning whole week and was about to increase
lots but next week I was losing. Why? Because market changed its tactics because people got used to it and market needs their money. Human mind can adapt to it but no EA can do this.

I feel sorry for people who chase for 'profitable' EAs for they waste their time.
So, what to do? Get an EA that gives custom signals to cell phone and then human mind should decide what to...
  • #27
  • Last Post: Jul 27, 2011 4:05am Jul 27, 2011 4:05am
I think that EA's are necessary at times but definitely shouldn't be replaced completely instead of the human mind. But definitely good arguments brought for both sides. Gave me something to think about!
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