Forex Mastery: Diversify Your Risk by Trading Many Forex Expert Advisors in One Account, and Achieve Stable Results. TRENDadvisor - Proven Profits, acuTRADE trading system software, high frequency, intraday, swing & position trading. Selwyn Gishen contributes to Investopedia and Forex Journal and has written a trading guide for Trade Station. He is the CEO of ProGro Group. Learn about our. INVESTING IN BONDS ARTICLES ON HEALTH Then install and. Were my personal Team What is. For further information trusted with any project, with any.
Soon, I was spending hours reading about trading systems i. As you may know, the Foreign Exchange Forex, or FX market is used for trading between currency pairs. A few years ago, driven by my curiosity, I took my first steps into the world of Forex algorithmic trading by creating a demo account and playing out simulations with fake money on the Meta Trader 4 trading platform.
Spurred on by my own successful algorithmic trading, I dug deeper and eventually signed up for a number of FX forums. Soon, I was spending hours reading about algorithmic trading systems rule sets that determine whether you should buy or sell , custom indicators , market moods, and more.
Around this time, coincidentally, I heard that someone was trying to find a software developer to automate a simple trading system. This was back in my college days when I was learning about concurrent programming in Java threads, semaphores, and all that junk. The client wanted algorithmic trading software built with MQL4 , a functional programming language used by the Meta Trader 4 platform for performing stock-related actions.
The role of the trading platform Meta Trader 4, in this case is to provide a connection to a Forex broker. The movement of the Current Price is called a tick. In other words, a tick is a change in the Bid or Ask price for a currency pair.
During active markets, there may be numerous ticks per second. During slow markets, there can be minutes without a tick. The tick is the heartbeat of a currency market robot. When you place an order through such a platform, you buy or sell a certain volume of a certain currency.
You also set stop-loss and take-profit limits. The stop-loss limit is the maximum amount of pips price variations that you can afford to lose before giving up on a trade. Many come built-in to Meta Trader 4. However, the indicators that my client was interested in came from a custom trading system. They wanted to trade every time two of these custom indicators intersected, and only at a certain angle.
The start function is the heart of every MQL4 program since it is executed every time the market moves ergo, this function will execute once per tick. For example, you could be operating on the H1 one hour timeframe, yet the start function would execute many thousands of times per timeframe. Once I built my algorithmic trading system, I wanted to know: 1 if it was behaving appropriately, and 2 if the Forex trading strategy it used was any good.
In other words, you test your system using the past as a proxy for the present. MT4 comes with an acceptable tool for backtesting a Forex trading strategy nowadays, there are more professional tools that offer greater functionality. To start, you setup your timeframes and run your program under a simulation; the tool will simulate each tick knowing that for each unit it should open at certain price, close at a certain price and, reach specified highs and lows.
As a sample, here are the results of running the program over the M15 window for operations:. This particular science is known as Parameter Optimization. I did some rough testing to try and infer the significance of the external parameters on the Return Ratio and came up with something like this:. You may think as I did that you should use the Parameter A.
Specifically, note the unpredictability of Parameter A: for small error values, its return changes dramatically. In other words, Parameter A is very likely to over-predict future results since any uncertainty, any shift at all will result in worse performance.
But indeed, the future is uncertain! And so the return of Parameter A is also uncertain. Following the principles of universal automation of life, trading advisors appeared on Forex — nothing more than automatic trading systems. Behind each of them is a simple algorithm for opening […]. Behind each of them is a simple algorithm for opening and closing a deal, as well as its support under certain conditions.
Forex advisors are indispensable assistants to a trader in the international currency market — trading robots or just bots. No truly successful Forex trader can do without trading robots these days. Expert Advisors trade around the clock, knowing neither tired nor emotions. That is, Forex advisors are specially designed programs for automatic work on Forex, which make it possible to carry out transactions without human intervention. All you need is to understand the settings of your Expert Advisor, set the necessary parameters, in accordance with which the robot will act and receive profit.
Thus, the advisor automatically monitors trends in a specific period of time. The Forex advisor uses indicators or other analyzers, the advisor itself examines and compares various conditions and market factors, after which, based on its analysis, the advisor opens deals, and all this is absolutely automatic. The programmer who created the advisor puts into its work a certain trading strategy, the use of certain indicators, taking into account certain conditions, factors and market trends, on the basis of which deals are opened.
Almost all online trading brokers on the Internet have this feature enabled on their platforms. The trader only needs to set up and optimize the EA correctly. Those who understand well in forex trading can always upgrade their EA with the current market situation. What worked six months ago may not work now, and so on. In general, trading advisors have a right to exist with one caveat: they must be used wisely. Automatic trading is absolutely not suitable for novice traders who have not yet tasted the joy of manual trades.
But, as a rule, it is they who are attracted by the developers of trading advisors, drawing bright prospects. A beginner trader, inexperienced in trading, may have the opinion that it is enough to install an advisor — and the money will flow like a river. Experienced traders know that not everything is so simple, and they continue to test more and more new trading robots.
This is probably the right way: a successful combination of independent and automated trading with constant monitoring and periodic optimization of mechanical trading systems. The best option is to develop your own trading strategy and create an Expert Advisor based on it, either yourself or by asking a programmer for help. Yes, if you are willing to risk your deposit.
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