Create and Test Forex Strategies
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| eas-guide:strategies-and-expert-advisors [2019/02/18 15:23] – Miroslav Popov | eas-guide:strategies-and-expert-advisors [2019/02/18 15:26] – Miroslav Popov | ||
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| ==== MetaTrader ==== | ==== MetaTrader ==== | ||
| - | MetaTrader is a trading platform. Normally you will get it from your broker for free. MetaTrader is developed by a company called MetaQuotes. Currently MetaTrader 4 is the most popular trading platform among traders. Almost all brokers offer MetaTrader 4. There is also another version - MetaTrader 5. MetaTrader 5 is the latest version however, it is not as popular. | + | MetaTrader is a trading platform. Normally you will get it from your broker for free. MetaTrader is developed by a company called MetaQuotes. Currently, MetaTrader 4 is the most popular trading platform among traders. Almost all brokers offer MetaTrader 4. There is also another version - MetaTrader 5. MetaTrader 5 is the latest version however, it is not as popular. |
| The main purposes of the trading platform are to deliver data from the broker to your screen and to allow you to trade. MetaTrader allows you to trade manually as well as automatically. | The main purposes of the trading platform are to deliver data from the broker to your screen and to allow you to trade. MetaTrader allows you to trade manually as well as automatically. | ||
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| What you see on the picture below is the price chart of the EURUSD market. You can trade manually - buy and sell on the market. You can also see the current (latest) price in the right end of the chart. As you will notice the price is constantly moving and it is not easy to decide whether you should buy or sell and what point in time you should act. Of course, you want to trade in the proper direction since you want to make a profit. | What you see on the picture below is the price chart of the EURUSD market. You can trade manually - buy and sell on the market. You can also see the current (latest) price in the right end of the chart. As you will notice the price is constantly moving and it is not easy to decide whether you should buy or sell and what point in time you should act. Of course, you want to trade in the proper direction since you want to make a profit. | ||
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| ==== Writing Expert Advisors ==== | ==== Writing Expert Advisors ==== | ||
| - | To program Experts you need to know how MetaTrader works but things do not end here. You need several other things to create a potentially profitable Expert Advisor. You need to know how the market works and how the indicators work. | + | To program Experts, you need to know how MetaTrader works but things do not end here. You need several other things to create a potentially profitable Expert Advisor. You need to know how the market works and how the indicators work. |
| After you are done programming you will want to test your Expert Advisor. Then if you are not happy with the results you need go back, change the code and test it again until you are happy with the EA's performance on historical data. This is the most tedious part and many people get stuck on it because it takes a ton of time. | After you are done programming you will want to test your Expert Advisor. Then if you are not happy with the results you need go back, change the code and test it again until you are happy with the EA's performance on historical data. This is the most tedious part and many people get stuck on it because it takes a ton of time. | ||