Hello to all! I have my own system and my own criteria for entering and exiting a trade. However, starting out, I’m still employed with a job. I have certain goals I wish to reach each week trading, and as such, I don’t want to miss opportunities. This would true even when sleeping.
Is there a robot, or software, that I can tell it when to execute a trade, based on certain signals, as well as to exit? Signals I’m referring to include certain candlestick patterns, moving average crossovers, stochastic crossovers, and MACD crossovers. Is there anything sophisticated enough to cover all of these things?
I don’t want a robot to decide for me when to enter or exit a trade, only what I tell it to (still not sure if so-called “Expert Advisors” will allow you to dictate your own trades). It’s not out of laziness I need this, but when I’m working during the day.
i guess you could put pending orders in MT and tell it when to enter and place some TP and SL.
Otherwise, you will have to learn some programing and code your own Expert Advisor if you dont trust the others they are on the market
An EA sounds about like what you’re looking for. You can create the EA based on your trading strategy, such as buy/sell when 10 period moving average crosses 20 period ma, etc. The candlestick pattern may be a little tougher and require more time to program since patterns can be more subjective.
Forex brokers serve as the middle man between you and your buyers or sellers. You can choose to either get in touch with forex brokers in USA as a consultant or employ them as your trading partner.
I like the idea of writing my own EA with MQL4, considering I have a math degree with a minor in programming. I’ve looked at its website, it can teach me all I know (I think). Thing is, what software do I use to actually write the code and ultimately run it as a program? If it costs something, how much? Thanks.
Metatrader 4 is the platform most brokers give you for free when you open an account, demo or live. It has a built in Metaeditor program that will allow you to build and compile your MQ4 EA code. You run your EA in Metatrader. The help built into Metaeditor (search in the Navigator window) is excellent for showing syntax.
There is plenty of sample code around to help you get started including a MACD sample that comes with Metatrader. I have written a few EAs, it’s not too tough until you start getting into fancy trade management like creeping trailing stops / moving take profits / simultaneously handling multiple strategies. You also need to take into account whether it is a 4 or 5 digit broker. Some errors won’t happen demo that will happen live (off quotes for example). FWIW, my EAs always turn out to be more profitable with a hard take profit than a trailing stop.
There are web sites that will allow you to build an EA based on strategy and then give you the code. There is also an EA generator that tests and outputs strategy basic code that is free for the first 30 or 60 days. They would be a good place to get you started too. Good luck.