I just wanted to pass on my way of testing any new trading systems before I even paper trade to see if they work.
I close my eyes and scroll backwards and forwards on the chart to some completely random time. Then I move forward one timeframe at a time (I use MT4 and it’s F12 - make sure to turn auto-scroll off). I treat the edge of the screen as the end of the chart and make decisions as if it was a live market. Now I can move forward and watch it unfold without having to wait for real timeframes to happen. You can then go figure out why your trade did or didn’t work out and hone in your skills. This is also great for doing analysis prior to moving forward and spoiling the result. You can draw support/resistance lines, fib lines, channels and so on without the chart moving on you so you can really get a feel of whether your indicators will catch a trend in time and allow you to exit at the right time. I also recommend testing your system in different months and years to see if your system holds up over time. We all know how dynamic the FX is, so this is good stuff to know!
Hope this helps! Also, comments are always welcome!
Since you’re using MT4 then you’ll find the backtesting function very useful for you, by this function you can spacify a starting date for your testing and the charts will go exactly as it works online, bar by bar.
MT4 also accepts system as a code and gives orders for open and close positions.
i have a trading system i want to test on MT4 but i dont have any experiences in programming at all. how can i get anyone to write me the code? is there a place i could learn? thank you!
Have you tested it manually on Mt4? Why do you want to automate it?
Your MT4 platforms comes with a few EAs which you can open up and see what the programming code looks like, then decide whether you think it’s something you could learn.
The MACD Sample EA is fairly easy to read. Most EAs have the same construct (set your stop level values, set your inidicator of choice comparison values, check your balance and margin, check for entry & exit signals, & manage your orders - open,modify,close).
I have done some programming in other languages so I’m trying out my strategies using a couple of my own EA’s, although I’ve never made any before. They are working but I’m not sure yet if the results mean it’s a good or bad strategy, or if my coding has missed something. It seems one can set different testing methods and that can alter the results too.
I’ve just registered with Metaquotes forum yesterday so I can ask them questions when I have issues, but still waiting to get approved.
If no one else steps forward to make one or help you write one, I could try but it won’t be quick.
I’m also in the process of learning to do some MQL4 coding. If you want to let me know the parameters of your strategy I could try to put something together. You could also try the following link for a free website that has an online builder:
I’m taken the basic template that they start with and tweaked it slightly to fit my own and work from there. Also, another forum you may try that I’ve had success on is mql4.com.
Well first of all you have to tell us about the system and if it looks credible, then I would definitely write the EA code for it. I am a professional programmer by the way…
