I think that being able to use excel to build strategies, analyze trades and execute positions is a great way of trading without having to use MQL4 and use shady EAs. What do you think?
Can Excel execute positions?
You can trade through Excel with a service that is for sale.(use Google) I suspect the above post is meant to drum up interest in a product. Its not a bad idea(trading with Excel not advertising on a Baby Pips Thread) and might be worth a look if you can justify the cost.
excel can be useful for backtesting
I’ve googled this service. seems to be a nice software for someone who feels at home with Excel but doesn’t like metatrader. however I don’t see much point in opening trades through Excel. it just introduces a possible delay between pressing the “buy” or “sell” button and the actual execution by the broker.
Its an interesting application. Allows to execute positions using custom made Excel functions. Much like an Expert Advisor.
… or you could program your trading strategy yourself in Excel, save yourself a bit of money that you can then use to trade.
Sure. If you can program you dont need too much. Just do it yourself. But if you cant program then it is a different matter.
I tried their demo by the way and I like the idea.
This is exactly what I have created for myself in Excel during the last few days. I came across a manual trading methodology on the Internet about a week ago that intrigued me. It’s a relatively simple strategy that dictates exact entry, S/L, and T/P points. The methodology does not specify which pairs or which time frames to trade, so I adapted it to the four major pairs stated in the BabyPips School of Pipsology – EUR/USD, GBP/USD, USD/CHF, and USD/JPY. I also adapted it to a time frame that (1) I am comfortable with given my life’s schedule, and (2) a time frame that is long enough to stand a reasonable chance of achieving the T/P before the S/L. That time frame is daily. In addition, I wanted to build in some flexibility, allowing me to alter the S/L and T/P points and make the S/L dynamic, based on price action.
I programmed all of this into an Excel workbook that contains three worksheets – one with a price grid; one with the appropriate trade sizes based on S/L, current account balance, etc. for a mini account; and one with the appropriate trade sizes based on S/L, current account balance, etc. for a standard account.
As this methodology is based on strict, precise rules for entry and exit on daily charts, it does not generate many trades. It’s more of a swing trading methodology. What my spreadsheet has done for me is alleviate the tedium of calculating all of the criteria manually. All I have to do is enter the OHLC prices for two trading days ago and one trading day ago for each of the four pairs into the price grid, and voilà ! The spreadsheet gives me exactly which of the four pairs to trade and their entry, S/L, and T/P points. I spend about ten minutes daily pulling up my charts, entering the prices into the price grid, and placing my pending orders. That’s it.
So far, in three days of demo trading, just one pending order reached its entry point. That trade closed five hours later with an 80-pip profit.
So yes, in a very long-winded way, I am saying that I wholeheartedly concur that an Excel spreadsheet is an outstanding and inexpensive way to augment and ease any manual trading methodology that has precise rules for entry and exit.
I use excel only to calculate the pivot point, support, and resistance as well as saving the historical price. Never heard that people use it as an Expert Advisor. Anyone can show how exactly it works? 
DennisL:
Sounds like we’re up to the same thing. Good to have some company.
freewilly:
I’m sure it involves a purchase of some sort. Read Shr1k’s post; he’s right, I’ve seen this same post/advertisement on other forums.
This is not to say there is no merit to it. I’m just not sure I would use Excel for automation beyond what DennisL has done. But hey, to each his/her own
Yes you can do that but as pipso facto’s pointed out it involves a purchase of some sort, though they have a free 10 day trial. However, I am yet to see something half as good for free.
All data exported from mt4 to excel and use custom build functions to execute positions. Create strategies according to rules and models you create.
Perhaps :o
Hi,
I have posted this question on several other forums and so far nobody has bothered to reply. 
I am a newbie on the FX market and my broker offers the widely popular Meta Trader platform. Now I have come to understand that building your own strategies is the preferred way to go - as opposed to using Expert Advisers created by someone else. However learning MQL4 (Meta Trader 4 programming language) from scratch is not exactly my cup of tea. There are add-in solutions for Meta Trader 4 that allow the trader to use excel (I feel more comfy in Excel) to build strategies.
I wonder however whether an excel based solution for building strategies is as effective?
The effectiveness of your strategy has little to do with the software you use and much to do with your trading system and your ability to stick to it.
That said, I use Excel but if you’re looking to automate, there are probably better options out there
I am not sure you understood me correctly. My question is not regarding the quality of my strategy - thats another issue. My question is about the medium I use to carry the strategy out. Being able to create a strategy in a way that allows me to tweak it and/or adjust it as the market changes and as I gain more experience is just as important as having a good strategy.
As an MT4 user the only medium available to me for strategy creation is MQL4. As I mentioned in the post above, I dont have neither the time nor the desire to turn myself into a programmer - remember, I signed to trade forex, not learn programming!
Now I can hear how some people are saying that nothing in life comes easy and if trading forex requires programming knowledge then so be it and those who dont like it are just plain lazy!
But I disagree, we do not have to be mechanics to be good/professional drivers!
My question is whether the alternative platforms to building strategies - like some Excel solutions I have comes across - are a viable alternative to MQl4.
I am not sure you understood me correctly. My question is not regarding the quality of my strategy - thats another issue. My question is about the medium I use to carry the strategy out.
IMHO this is the main issue. I was trying to (gently) point you in what I think is the right direction. It’s easy to get carried away by all the “mediums” out there but your strategy should be your main concern. If it’s not viable, then no amount of software will make it profitable.
Being able to create a strategy in a way that allows me to tweak it and/or adjust it as the market changes and as I gain more experience is just as important as having a good strategy.
If your strategy is going to be to change strategies, do you really need software? I view software as a tool to help me carry out pre-defined rules.
As an MT4 user the only medium available to me for strategy creation is MQL4. As I mentioned in the post above, I dont have neither the time nor the desire to turn myself into a programmer - remember, I signed to trade forex, not learn programming!
I don’t see how Excel would be any different. Strategies don’t write themselves. That said, there are plenty of programmers out there willing to help you create your strategy, in MQL or any other language.
Now I can hear how some people are saying that nothing in life comes easy and if trading forex requires programming knowledge then so be it and those who dont like it are just plain lazy!
In my experience, the “hard” part of trading isn’t learning to program (you can hire a programmer), or creating a good strategy (there are plenty of good resources out there) but sticking with your system.
My question is whether the alternative platforms to building strategies - like some Excel solutions I have comes across - are a viable alternative to MQl4.
I have no experience with the solutions you’ve come across. I’ve seen some good strategy builders, but they tend to be somewhat expensive. I’d rather save the money and use it to trade.
PIPSO FACTO
Well…I thought only the classic authors deserved a line by line analysis and answer - I will return the compliment :p.
I disagree! The medium is just as important as the strategy. It does not really matter how well you can shot; if the barrel of your gun aint straight you will miss :D. But again this is not a question about strategy - I have one that works - it just needs tweaking few times a month. So no question on the quality of my strategy here…the question is which platform for strategy building offers the most flexibility with a minimum investment in programming.
And yes…the rules of a strategy should be changed…perhaps not fundamentally but to some degree. remember the good old saying “you can never step in the same river twice”. The market contains an element of consistency but it is following the ever changing details that make you a loser or a winner. Why else so many “nurosomthing” strategies and robots that claim to attempt and learn from the trend and adjust themselves?
Hiring a programmer? Hmm…now those are money you can definitively save for your trading…the MQL4 programmers charge around 300-400$ for a decent strategy (sometimes 100$ per hour). Now imagine getting one, each time you want to implement a change or try out a new strategy :eek:
I think the more we discuss this the more I am leaning towards Excel. I found a solution and you can see what I mean in the screenshot I have attached.
Still, too bad there is nobody to compare the 2 - MQL4 and Excel 
Well…I thought only the [B]classic authors[/B] deserved a line by line analysis and answer - I will return the compliment :p.
I thought they’d all died…
I disagree! The [B]medium[/B] is just as important as the strategy. It does not really matter how well you can shot; if the barrel of your gun aint straight you will miss :D.
Not if the shooter knows his gun.
I’ll agree with the analogy if the “medium” is the trader. Any software will do what you tell it to do. Many traders aren’t very good at their craft and like to blame their equipment…
But again this is not a question about strategy - I have one that works - [B]it just needs tweaking[/B] few times a month.
… or their “strategy”
And yes…[B]the rules of a strategy should be changed[/B]…perhaps not fundamentally but to some degree. remember the good old saying “you can never step in the same river twice”.
So long on the quality of your strategy, yet so quick to change it. An old saying, wait… I feel a mangled justification coming…
The market contains an element of consistency but it is following the ever changing details that make you a loser or a winner.
???
Why else so many “nurosomthing” strategies and robots that claim to attempt and learn from the trend and adjust themselves?
I’ve never heard a robot claim anything. The only thing there is to learn from a trend if it’s up or down. It’d be nice if they told how long they’re going to last but alas…
Still, too bad there is nobody to compare the 2 - MQL4 and Excel
There is you…
Look, I don’t think is going anywhere. I just wanted to see people’s opinions on the different platforms to build a strategy and which is the easiest i.e. does not require learning any programming language. It seems that Excel might be the way to go because it is cost effective - no need to pay programmers, beginners like me can use it and allows for automatic trading. it may seem that I may have answered my own question but I would still appreciate other people’s opinions and experiences.
Yes…there is me. And then there is you! And statistically speaking we are both loosing money on forex…both me and … you! Well…I have not started yet…so that leaves you!