Forex Robots - legit or scam?

[wabbit]

Not a bad place to start learning, but it's mostly extracted directly from the MT4 MetaEditor help files anyway.

I still the best way to learn is to have a project in your mind and keep researching each time you hit a hurdle.

If you're going to be writing EA's, I think the best thing to do first is to find an existing EA which you can use as a template (or write your own from scratch) that will contain all of the functions you normally use, such as placing and closing orders, money management, moving stops etc and make this YOUR template. Then you can simply add the trading logic to it, whenever you change your logic, you don't need to change all of the engine room stuff.

The MT4 help files are very good, although most people never read them!


wabbit

 

[MS+Tradesim]

Wabbit,

Thanks for the feedback. That's kind of what I had in mind. However, looking at some of the EAs at FF there seem to be many files involved and I don't know where to start in terms of why a given EA might need so many files, so I still need to learn the basics about the platform and it how interacts with indicators, scripts and data etc.

Is there a freely available EA (system irrelevant as long as all the necessary factors are covered) that you could recommend I start with as a beginning template?

Thanks.

 

[macca]

MS+T,

Go to post 182, Norman has posted a link, just download that, it is MQ4 so you can get into it.

HTH

 

[electronicmaster]

No that is not at all what I'm suggesting. I was trying to get a gauge as to how long you hold trades that go against you. But it would make no diff to you. When you do the wrong thing and it works out right it just reinforces your incorrect actions ... until it ends in tears.
BS. Trading incorrectly is never the way to go. IMO.

I do agree that not having a stop loss, over trading and holding trades for a really long time (for days and weeks) is bad trading practise.


I Think I can tune the settings of Fapturbo to give me a correct way to trade.

Currently I'm depending on the EA's determined market trend and its own ability to act on detected long term trend change. (bad idea?)

Is it a scam, or is it not? I'll Soon find out

 

[wabbit]

The MACD Sample comes with MT4.... it's a good starting point.

IBFX used to have a good video article, but they have since removed it. Luckily I still have a copy. Give me an email link and I will send it out to you (15MB .swf file)


wabbit

P.S. In the video, ignore the account trapping code!

 

[MS+Tradesim]

Thanks macca and wabbit. Really appreciate your feedback.

 

[Stormin_Norman]

I have some of my own ideas that I want to turn into EAs but I know zilch about MT4 and MQL4.

Would any of you MT4 guys mind having a look at this info and advising if it is a helpful place to start learning?

http://www.metatrader.info/node/34

Thanks in advance.

do you know the C language? cause apparently its just a bastardised version of it.

 

[MS+Tradesim]

do you know the C language? cause apparently its just a bastardised version of it.

I don't but it's on my "to learn" list.

 

[Stormin_Norman]

I have some of my own ideas that I want to turn into EAs but I know zilch about MT4 and MQL4.

Would any of you MT4 guys mind having a look at this info and advising if it is a helpful place to start learning?

http://www.metatrader.info/node/34

Thanks in advance.

Wabbit,

Thanks for the feedback. That's kind of what I had in mind. However, looking at some of the EAs at FF there seem to be many files involved and I don't know where to start in terms of why a given EA might need so many files, so I still need to learn the basics about the platform and it how interacts with indicators, scripts and data etc.

Is there a freely available EA (system irrelevant as long as all the necessary factors are covered) that you could recommend I start with as a beginning template?

Thanks.

have a look at these ones.

they were all done by a young fella called ronald ray gun over at forex factory.

they are well set out and code is easy to follow.

contains most parts of an EA u need in there. should be able to just substitute the indicators for your own and away you go.

 

[electronicmaster]

Live statement update for today.

It made over $1000.00 USD today.

I had two scalp trades with USDCAD as well.

 

[MS+Tradesim]

Thanks stormin.

 

[Trembling Hand]

IMO. Anyone else?

 

[electronicmaster]

IMO. Anyone else?

Oh yea, I'm feeling it. Crapping my paints here. But I'll let it go. I can make it back again if it runs out of free margin tonight.

Its possible I'll lose up to $200.00 USD, but well see.

 

[Page]

I have accomplished that systems are legit, but only if the right tools are included into the trading procedure. To further solidify the position as a proven system, some trading platforms have decided to permit traders to attempt their system for an experiment period. The cause for this experiment is to allow traders to undertake their system, determine if the signals work for them and, if the trader is making money, they will get hooked on the system.

 

[Stormin_Norman]

I have accomplished that systems are legit, but only if the right tools are included into the trading procedure. To further solidify the position as a proven system, some trading platforms have decided to permit traders to attempt their system for an experiment period. The cause for this experiment is to allow traders to undertake their system, determine if the signals work for them and, if the trader is making money, they will get hooked on the system.

i dont know what to make of your posts page.

 

[Trembling Hand]

i dont know what to make of your posts page.

:alcohol:

 

[electronicmaster]

Live Statement Update, just before the sinking ship

 

[Stormin_Norman]

attach this indicator to your account, it gives a better indication of the account performance then purely balance.

open a new chart (any will do) and attach it. go into chart properties and turn all the visuals to 'none'.

set your account balance in the indicator properties and bob's your uncle.

(see attached image)

 

[Stormin_Norman]

yeah in the indicator properties (right click chart, indicators, select, properties).

also turn off all the prices and writing on the chart to get rid of the writing at the top left and the currency prices.

u can then pull the graph up using a resizing cursor to just below the indicator's green writing.

also u can adjust the time on the chart, which will show u different time periods on the EA.

 

[electronicmaster]

Ok hope this works out better.