Trader’s Tech – Writing your own EA Part 1 – Concepts

Programming your EASo you’ve got a killer strategy. You’ve manually back tested, forward tested, calculated and cogitated and you know it’ll make you a millionaire in three months. Problem is: sleep deprivation, social deprivation, nourishment deprivation, life deprivation. The only way this strategy works is for you to keep your nose in the charts 24 hours a day, 5 1/2 days a week. You’re reaching the end of your rope. Your family has already reached the end of your rope and they’re tying a noose in it. What is a trader to do?

Wait, this is a computer, it’s supposed to make life easier. It’s supposed to make me money while I lay around the pool sipping tropical drinks and soaking up rays. Well, Winner’s Edge Trading’s Trader’s Tech to the rescue. “Here we come to save the day”!  (I’ll bet you sang that Mighty Mouse style – if not, you are now. ;))

We’re starting a Trader’s Tech series to teach you how to write your own EAs. This series is designed to teach a reasonably logical and tech savvy individual how to automate their strategies. This is not meant to be an in-depth university-level software development course. Programmers will find this somewhat tedious as we will be going over the basics of programming. But, if you have the ability to give someone directions to your home – and they can actually find your home – you can write basic software. This series will be based on the Metatrader 4 (MT4) trading platform and will be about the MQL4 programming language which is built into MT4. In future articles, we may migrate to other platforms, but due to the proliferation of MT4, I feel this is a good place to start.

Programming Concepts

Writing a program is just a simple matter of giving the computer a list of very detailed instructions to execute, in order. The only real difference between writing a program and giving your friend directions to your home is the level of detail to which you must go when instructing the computer. You can shortcut your directions to your friend, because he already understands certain things, like how to start his car. And you only think your friend is a stickler for grammar and punctuation! For the computer you have to be absolutely precise in your instructions and you have to assume the computer knows nothing (which is actually true.)  Computers aren’t smart, they’re just very fast. Never be intimidated by a computer, there is ALWAYS a reason why it is doing something wacky, you just need to be patient to find it.

Tomorrow, we’ll discuss the tools needed to write your EA, how to access them and how to get started. Have a great day!


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