I’m relatively new to forex and was wondering whether anyone had any experience with automated trading. I’m a student and miss a lot of big price movements because I can’t be in front of my computer for much time. I was hoping to automated my system and just let bring in the pips while I’m out and about. My system uses the Parabolic SAR and RSI, but I may soon replace the RSI with the ADX. I have no prior experience programming, so will it be hard for me to write a program like this in C++? Does anyone have any advice or can anyone point me in the right direction? All help will be greatly appreciated.
I have no personal experience with automated trading but haven’t heard great things about it. Just find some EA’s for sar or RSI and set it to alert you via email. Then set it to your cellphone’s text messaging address. I do this and receive every PSAR change. Works really well.
If you check the “Free Forex Trading Systems” section of the forum, you should see a lot of “EA” threads. EA stands for Expert Advisor and is used in the program MetaTrader 4 (MT4). It’s basically what you are talking about… automated trading.
My friend and I are currently attempting to put one together, but it is much harder than anticipated… and he has a diploma in programming. So yeah, with no experience it would be pretty tough.
Personally, I am in a similar boat as yourself. Finding a well tuned EA has been a near impossible search, however, creating a bot through Metatrader is relatively easy in terms of programming difficulty (compared to creating a Java based application). If you head over to MQL4 (Metatrader/Editor website) you can find tutorials and even a free book on creating EAs, Indicators, and the like.
Also, just a side note, the programmers state clearly in the forums on the site that creating a expert adviser in Metatrader requires understanding of the C language, not C++. The C language is far more simplistic than its C++ replacement.
If you are not looking to create an EA using Metatrader, just disregard my post
Thanks for the help. I’ve been looking at EAs for a while but have yet to see exactly what I want so I may give programming a try and as well as setting up text alerts. Does anyone know where I could get these from and how much the service costs?
I’m confused:if you are going to give programming a try, the only cost to you would be any books or courses you purchased regarding programming in C. As for the phone text message alerts, you may want to contact your wireless provider, as well as PM virtecs (who currently has it), to investigate costs. I can tell you that if you have a standard cellphone (meaning non PDA), there may be formatting issues with the email alert, and you won’t be able to read it. Definitely research it, I’d say
Please don’t advocate a product with an affiliate link. We are looking for viable solutions here, not some internet marketer looking to make a buck. :mad:
I utilize automated trading via an EA with Metatrader. It’s an incredible asset. I however don’t soley rely on. I have Metatrader Mobile on my Treo 700wx to monitor my trading during the day and make any necessary adjustments.
I have Metatrader set to send me text alerts when a trade opens and closes.
I’m extremely pleased with this set up as it allows me to get more trades in that I would have otherwise missed.
There is a 17 year old kid by the username of Ronald Raygun on the Forexfactory forums that advertises in his tagline that he will create an EA based on your trading system for $50.
I paid him $100 for two EA’s and both work great. A wise investment as well as I’ve made my $100 back and then some.
The only catch to all this is to devise a trading system that is actually profitable.
