Expert Advisors

[rich286]

Hello

I've not used this site for years. I'm here again to find people and help with my learning of EA's.

Is there a forum dedicated to this on here ?

 

[timsk]

Is there a forum dedicated to this on here ?

Welcome back rich!

There isn't a bespoke forum dedicated to EAs but, that said, plenty of members are familiar with them and use them - so fire away with your thoughts and questions etc.

I've moved your thread to the most appropriate forum.
Tim.

 

[rich286]

Welcome back rich!

There isn't a bespoke forum dedicated to EAs but, that said, plenty of members are familiar with them and use them - so fire away with your thoughts and questions etc.

I've moved your thread to the most appropriate forum.
Tim.

Thanks Tim

 

[rich286]

Expert advisors.....HELP!

Welcome back rich!

There isn't a bespoke forum dedicated to EAs but, that said, plenty of members are familiar with them and use them - so fire away with your thoughts and questions etc.

I've moved your thread to the most appropriate forum.
Tim.

I'm trying to learn how to create my own EA. I've looked at a free EA builder from Alpari, which seems like a good idea but still very tricky to understand. There's frustratingly, very little in video tutorials or YouTube that helps. I've looked at MT4 website and forum too.......any help would be much appreciated.

Perhaps I don't need to write my own!?

There seems to be thousands already written and displayed in the MLQ4 forum. So I perhaps just need to find some useful programmes that have been used by others that do work successfully......and simply learn how to incorporate them into my MT4?

Hope someone can advise.

 

[Pat494]

Hi

I have had a little experience recently with EAs, especially those on MT5.
I tried all the free ones and found next to nothing. The Macd one it comes with is about the best.
So moving on to the paid ones or learning to program. The latter is a very long haul to make a profitable one imho. I tested them in the strategy tester and found one that seemed to make amazing profits, called EA Rosey by Young Ho Seo. Well what with greed pushing strongly I bought it for £550 and funded my account to £1,000 as per instructions. Imagine my grief when on the first day it was still buying when the trade was already down £400. A Martingale system I suppose. I pulled out with that loss and haven't used it since. One can change some variables just a bit but not as much as in the strategy tester.
EAs are as yet probably mostly or even entirely c-r-a-p !! Leave well alone imho

 

[rich286]

Hi

I have had a little experience recently with EAs, especially those on MT5.
I tried all the free ones and found next to nothing. The Macd one it comes with is about the best.
So moving on to the paid ones or learning to program. The latter is a very long haul to make a profitable one imho. I tested them in the strategy tester and found one that seemed to make amazing profits, called EA Rosey by Young Ho Seo. Well what with greed pushing strongly I bought it for £550 and funded my account to £1,000 as per instructions. Imagine my grief when on the first day it was still buying when the trade was already down £400. A Martingale system I suppose. I pulled out with that loss and haven't used it since. One can change some variables just a bit but not as much as in the strategy tester.
EAs are as yet probably mostly or even entirely c-r-a-p !! Leave well alone imho

Blimey......doesn't sound good. I'm working on the idea that the automated systems can search out or see the opportunities and set ups, when I can't or don't realise they are forming. Plus they will be strict with respect to the trading rules programmed inside. In other words, the emotion and decision making aspect of trading is done for you!

Sounds great doesn't it......maybe too idealistic? However, on the basis that all the good and professional traders lose trades regularly.....and it comes down to a Plan and discipline which gives you the edge.....THEN......trading was made for automation it seems to me.

In fact in many ways it seems rediculous that we should attempt to do this manually when there are sophisticated machines that can crunch numbers and monitor price changes and a host of other variables.

In my limited experience, I would suggest you had the right idea but simply made a bad choice....maybe. I would take another look at the EA and run it on a Demo account. From what I can see even good programmes will have a draw down and maybe it comes down to timing too. If you had started a week later you might be up .....a lot now!!? Who knows for sure.

I find this subject fascinating even though I'm very new to it and a bit of a Neanderthal when it comes to serious computing stuff.

They say 90% of traders lose money......probably for all sorts of reasons. But if they were simply turning on there comp and running an EA that worked ...in profit most of the time.....then that 90% would look different. Knowledge, skill and judgement would be removed.

 

[timsk]

Hope someone can advise.

Hi rich (again),
First things first: what are you wanting to do? If you want an EA for a very specific and clearly defined purpose - then you've got three options:
1. Check the forums and MT4/5 libraries to see if someone has already written one that does what you want it to do.
2. If 1. draws a blank, you can pay a programmer to write one specifically for you. I did this with eSignal years ago, as it was faster and more cost effective that learning their programming language.
3. Learn to do it yourself. This is probably the best bet if you don't have a specific project in mind and just want to experiment to see what you can come up with.

I would say that Pat's views on EAs (above) reflect a strong groundswell of opinion here on T2W which, in part at least, explains why T2W isn't the premier forum for those wanting to utilise them. That said, EAs cover a diverse range of tools; they aren't just indicator based mechanisms for getting in and out of trades. For example, a while back I was experimenting with MT4 and wanted to display Renko charts, as opposed to the standard candlestick, line and bar charts that MT4 offers. So, I found an EA that did that. As I say, it really all depends on what you want the EA(s) to do.
Tim.

PS. rich - apologies, I didn't see your post before writing this one.

 

[rich286]

rich do you actually got a system you want to code or are you looking to buy one off the shelf?


if the former than id suggest you carry on running it manually for a year or two if you havent already cos by then toy relaize you dont need no code


if the latter then forget it as aint nobody gonna parcel up for pennies sumthin that gonna make you rich rich

No, I don't - the idea of using EA's is foreign to me and I know very little except you can programme MT4 & MT5 platforms.

If a good EA can search, monitor, decide and trade .....and be profitable only 40% of the time! then I believe you can still make money because you control the Sl levels and Risk /Reward ratio the EA is based on. It doesn't have to get perfect and I guess it never could be anyway. All we want is the Edge in probability terms, isn't it?

 

[Pat494]

Blimey......doesn't sound good. I'm working on the idea that the automated systems can search out or see the opportunities and set ups, when I can't or don't realise they are forming. Plus they will be strict with respect to the trading rules programmed inside. In other words, the emotion and decision making aspect of trading is done for you!

Sounds great doesn't it......maybe too idealistic? However, on the basis that all the good and professional traders lose trades regularly.....and it comes down to a Plan and discipline which gives you the edge.....THEN......trading was made for automation it seems to me.

In fact in many ways it seems rediculous that we should attempt to do this manually when there are sophisticated machines that can crunch numbers and monitor price changes and a host of other variables.

In my limited experience, I would suggest you had the right idea but simply made a bad choice....maybe. I would take another look at the EA and run it on a Demo account. From what I can see even good programmes will have a draw down and maybe it comes down to timing too. If you had started a week later you might be up .....a lot now!!? Who knows for sure.

I find this subject fascinating even though I'm very new to it and a bit of a Neanderthal when it comes to serious computing stuff.

They say 90% of traders lose money......probably for all sorts of reasons. But if they were simply turning on there comp and running an EA that worked ...in profit most of the time.....then that 90% would look different. Knowledge, skill and judgement would be removed.

I found a book about programming MT5. Too complicated for me but I could probably re-locate it if you are interested.
good thoughts - good luck/judgement.

 

[malaguti]

No, I don't - the idea of using EA's is foreign to me and I know very little except you can programme MT4 & MT5 platforms.

If a good EA can search, monitor, decide and trade .....and be profitable only 40% of the time! then I believe you can still make money because you control the Sl levels and Risk /Reward ratio the EA is based on. It doesn't have to get perfect and I guess it never could be anyway. All we want is the Edge in probability terms, isn't it?

but rich, most likely the EA will have been optimised on historic data. as soon as you go live, as Pat did to his cost, you won't find a 40% probability anymore
in reality the ea will have no edge whatsoever.

 

[rich286]

but rich, most likely the EA will have been optimised on historic data. as soon as you go live, as Pat did to his cost, you won't find a 40% probability anymore
in reality the ea will have no edge whatsoever.

You could be right? That's why I mentioned a Demo account because it will use real,live data. So you can monitor it properly as if you had placed the trades with real money today.

 

[Pat494]

The saga seems to be coming to a conclusion.

He has written:-

Dear Patrick

I decided to modify to allow smaller lot size. This will take some time to work on for me and it will be available in some days.

You can upgrade to newer version of EA Rosey for only 60 credits.

This is all I can do. When the newer version is available, thoroughly test them if you are happy with the EA.

Only if you are happy and you will not regret, then upgrade to newer version please.

Before purchase, you need to let me know. So I can provide you special upgrade price of 60 credits. Otherwise the price 550 will stay as usual for other customers..

Check frequently market for newer version next couple of days.

Kind regards.

Shall I risk another 60 credits or not ?

Posted below are the strategy tester results ( with a bit of extra tweaking ) which you have to admit are very good.

 

[rich286]

I found a book about programming MT5. Too complicated for me but I could probably re-locate it if you are interested.
good thoughts - good luck/judgement.

That's very kind Pat, but it would be wasted on me to be honest.

 

[rich286]

The saga seems to be coming to a conclusion.

He has written:-

Dear Patrick

I decided to modify to allow smaller lot size. This will take some time to work on for me and it will be available in some days.

You can upgrade to newer version of EA Rosey for only 60 credits.

This is all I can do. When the newer version is available, thoroughly test them if you are happy with the EA.

Only if you are happy and you will not regret, then upgrade to newer version please.

Before purchase, you need to let me know. So I can provide you special upgrade price of 60 credits. Otherwise the price 550 will stay as usual for other customers..

Check frequently market for newer version next couple of days.

Kind regards.

Shall I risk another 60 credits or not ?

Posted below are the strategy tester results ( with a bit of extra tweaking ) which you have to admit are very good.

I wouldn't bother for the time being, your original £550 is a lot of money already, but use the original EA on a Demo account. I don't mean back test it. But run it in real time on the Demo account with a trade size you would use in real life etc. see what happens.

 

[Pat494]

I wouldn't bother for the time being, your original £550 is a lot of money already, but use the original EA on a Demo account. I don't mean back test it. But run it in real time on the Demo account with a trade size you would use in real life etc. see what happens.

That is an idea I have just instated. Should have done it before.
I will let you know what happens.

 

[Pat494]

That is an idea I have just instated. Should have done it before.
I will let you know what happens.

This is the position after first 1/2 day. Only a 2.5% drawdown but................

 

[Shakone]

This is the position after first 1/2 day. Only a 2.5% drawdown but................

Is that the first long stopped out and then another two longs in pretty much the same price, or it a long then a short then two longs (I don't use metatrader). Where's the stop?

 

[Pat494]

Is that the first long stopped out and then another two longs in pretty much the same price, or it a long then a short then two longs (I don't use metatrader). Where's the stop?

It was down $65 straight off so I closed the position in order to lower the risk factor to minimum as suggested by the author. Then I turned it back on and it did the rest, seems to have upped the lot value without a stop. The programme claims to have an internal money management programme.

 

[Pat494]

This is my latest letter to Mr. Young Ho Seo.

I am sorry to see what little you are willing to offer ( 33% off your next programme or a tweak for 60 credits more ).

Here is what I am willing to show, maybe good or maybe bad.

http://www.trade2win.com/boards/trading-software/183960-expert-advisors-3.html#post2292844

I think I owe it to my friends on T2W to show what can happen to an investor on EAs. If you wish, please feel free to comment. I have followed your instructions to alter the risk factor to it's lowest i.e. 0.02. If you wish I will send better settings for the EA Rosey on the strategy tester. Let me know. This may make you famous if your programme produces profits.

regards

Patrick

 

[Shakone]

It was down $65 straight off so I closed the position in order to lower the risk factor to minimum as suggested by the author. Then I turned it back on and it did the rest, seems to have upped the lot value without a stop. The programme claims to have an internal money management programme.

I hope the internal money management programme isn't (if account balance < $10 close all positions). Good thing it's demo