Yes, I think you have a very good point. I have a fair bit of experience programming (php, perl, etc) anyway. I am really just looking for a primer in writing trading indicators and experts as I have no experience in that field at all. I spent sometime reading through some mq4 files last night and I feel like I am getting to grips with it a bit now. I think I will forget about paying for a course and invest the money into my trading account instead.
Yes, I am a little undecided as to my preference at the moment with regard to manual trading or automated. I am probably also more inclined to trade manually however I work full time which makes trading the shorter time frames difficult. I hope that as I gain knowledge and experience of trading strategies and the automation of them I will get a clearer idea about the most suitable way for me to trade personally. I am also hoping that using mql to develop and backtest signals and ideas will enhance my manual trading skills. Thats the theory anyway
Thanks, that was a fairly interesting thread actually.
I think finding the best -most natural/convenient- time frame is possibly the first obstacle a newcomer - like myself - has to overcome especially as most newbies are likely to already have full time jobs. However that does pose the question of how do day traders ever get started?
I asked the timeframe question on this forum several weeks ago and it is finally starting to become a little clearer. I have found I have been able to make some money (or pretend money) in the evenings using the 30 and 15 minute charts even though I live in London and the markets are supposed to be quiet at this time. There is no reason why I could not continue to do that whilst at the same time watching the daily and 4h charts for longer term moves. As I previously mentioned using an EA to place trades on the shorter time frames whilst I am at work also interests me a lot and is an idea I intend to pursue.
You have to do what’s most convenient and most comfortable for you. You’re right when you say that it’s often the biggest obstacle to overcome for those with jobs.
As for the EA, while they work, just make sure to test it thoroughly on a demo account before using real money in a live account. Be sure that it works flawlessly every time and it can be a great convenience.