Want to test idea on old data with a good calculating tool
Hi, I've had a few ideas which I've tested with real money, and mostly lost, but I would like my experiments to possibly be more cost effective. I have an idea which would be easy to automate if I just knew the right tool and the code for it. Essentially, I would want to make a program to tell the system to set limit orders with trailing stops relative to the current bid/ask price at certain times and relative to particular signals that occur and then test that method on historical data.
I'm not planning to use a robot, but I'm probably going to need such a thing to test out my method this way based on historical data. I remember reading about such a tool being on babypips, but I can't seem to find it ATM. I'll also be studying metaeditor for MT4 via Oanda while I await a response.
Any tutoring on how I can best accomplish this is appreciated.
Also, as a side question, this is probably a stupid question. This **** wouldn't happen to be so simple as to find in the end that there are well tested and proven robots out there that make loads of money, but that the process of getting them takes both money and a sort of initiation right of teaching yourself all about fx first would it?
I mean, I'm down for it if getting out of poverty this way is like some guy teaching you how to fish, "you must first journey across the desert for 40 days, to find the perfect stick from a tree that only grows in an oasis. Then you must sharpen the stick only with the diamonds that you'll find if you search deep inside the caverns of mount doom. Once it is sharpened you much catch a cobra with your bare hands and poison the tip with it's venom." You do all that and then return and he goes, "ok, now see that fish in the water there? Go ahead and pick it up with your bare hands" and the little ****er doesn't even squirm or nothing, you just pick it up and that's all there is too it. It even talks "I taste yummy when you cook me!"
I'm cool if it comes down to that, I would just like to know as I'm searching on this journey I've myself gotten into if that's the case.
You can test your strategy manually by examining on historical data
But the best way is developing an expert advisor and use strategy tester of MT4 terminal.
Here you can test your logic and optimize that for the best result.