How to setup a system ??

[Justin Yeung]

Hi,

I often read on forums about traders setting up their own system, or their own robot. Though I dont really have a clue what they are, to my little understanding, an automated trading system would be something like a parameter set by the trader and let the trading platform run itself with a certain level of human decision making, if that is correct.

Now comes my biggest question, how do you start to create your "system" ? Some say go into MT4 and simply create you own, but how ? What skills and knowledge do you need, and is there any guide that can guide you through as a beginner ?

It would be really great to hear some suggestions and answers :idea:

Best
Justin

 

[Abstract]

Now comes my biggest question, how do you start to create your "system" ? Some say go into MT4 and simply create you own, but how ? What skills and knowledge do you need, and is there any guide that can guide you through as a beginner ?

System design is a fairly vast and ongoing process. I simply can't cover everything relevant in one post, although I can refer you to some insightful books:
http://www.amazon.com/Trade-Your-Way-Financial-Freedom/dp/007147871X/ref=dp_ob_title_bk [Covers the system design process and goes through various types of systems]

http://www.amazon.com/High-Probabil...=sr_1_1?s=books&ie=UTF8&qid=1307464535&sr=1-1 [Goes through a few specific systems and coding]


More advanced reads:
http://www.amazon.com/New-Trading-S...=sr_1_1?s=books&ie=UTF8&qid=1307464585&sr=1-1
http://www.amazon.com/Evaluation-Op...=sr_1_2?ie=UTF8&s=books&qid=1307464600&sr=1-2

 

[the hare]

I'd probably advise initially focusing on developing reasonable coding and data analysis skills. I honestly cant see how anyone could even begin to undertake the research required to develop an automated strategy without this sort of basic knowledge.

Once you are familiar with a programming language, MQL is simple enough, although fairly limited regrding the complexity you can handle without resorting to some tricks, but its enough to get started with.

Van Tharps book reccommended in the previous post is a reasonable starting point, and if you can get a copy Vans trading system development seminar its probably worth a listen too.

The coding wont be a problem, that the easy bit