A question on expert advisors

Ive been curious about autotrading.
How do you write an Expert advisor? Does anyone have books to recommend on the subject? How difficult is it? (p.s. I am NOT a programer)

Are there any auto-traders here in BP? Maybe we can include this in the school as well? :wink:

Many thanks

If you’re not a programmer I think it would be quite difficult to code your own EA. I’ve coded several just for the experience, but none of them have performed well enough to totally automate my trading, nor do I believe that any ever would. I may use one to place orders with a certain strategy, but I always watch the charts to make sure there are no ā€œsignalsā€ that the EA should be abandoned.

I’ve found some good resources for MQL4 on the net. Search the TSD forum and also do a web search for MQL4 tutorial and also for codersguru. He has a site with a lot of good info.

I am EA Programmer and if one think to have usefull strategie we can think together about to write a EA for it to make it trading a little bit easier.

The MT4 programming language is based on C++. If you pick up a book on the C++ language and learn it then you can program EA’s.

I’m not a programmer, but I had two C++ classes in college years ago and I could write EA’s as soon as I was introduced to them. If you really want to learn I’d suggest a class at your local community college.

it is sometimes better to learn some month good trading and then trade it real, as make so much stress with learning programming just for the reason to trying code a EA. What you need as a trader some people say sometimes are 20 pips a week with enough lotsize and thats best.

PipTraderTim makes a good point.

I messed around with completely automated trading a little when I started. I tried lots of EAs and even wrote a few of my own, but I could never get good results with them over the long term. I think the only real use for them to help manage trades. An example off the top of my head would be an EA that you turn on when you see a trade setup and it enters the trade and automatically calculates your lot size based on your money management rules…

But that’s just my opinion. Just because I couldn’t get good results with them doesn’t mean you can’t.

Thanks guys for the replies.

Im really asking this question more out of curiosity than anything else. This is something I may want to pursue eventually as a supplement (not replacement) to my own trading.

Thanks for the offer piptradertim but I dont think I have enough years of experience trading to craft a viable strategy…yet.

Actually Phil a class seems like a good idea. If just to learn somethig new :slight_smile:

I was actually curious if some actually became successful with automated trading? I’ve heard countless times that they fail in the long run so I wanted to hear the other side of the story and their experiences… (No system sellers please)

Expert adviser is preferable to auto trading. Auto trading is so mechanical, very rigid. We should learn trade manually, this would be more better. This experts can give results to help

It is good to do both…I always keep an ā€œeyeā€ on open trades made by EA’s and sometimes take over the trade…