candle7779
Banned Affiliate Spammer for Accent Forex
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well after some period of time I've decided that the best way for me is manual trading. I feel myself more quietly trading myself.
Some advises on building a new trading system
- Thread starter dyd
- Start date
It's just that you do not have a stable system for trading on a live account.
woohoo! turns out I've read you correctly!
Hey dyd,
One area where you have to really be careful is in trusting your backtesting results. Especially in Metatrader 4, the backtester has some serious problems. A few things to consider:
Make sure you are using reliable data. The data supplied by metaquotes is garbage but there are plenty of free sources online. I would do some research and make sure you have reliable data before you do any backtesting.
Metatrader also does this very neat trick where the current spread at the time you run your backtest is applied to all your simulated trades. This can be very misleading and if you run your backtest during the weekend, you're bound to get some interesting results. You should make sure that you are using a realistic spread in all your backtests. You can view the spread used in the backtest under the "symbol properties" menu in the strategy tester.
The mql4 community is great so I would spend some time looking at expert advisors posted in the code base and the questions in the forums. Though most of those EAs are most likely not very profitable, you should be able to get some ideas or figure out how to code a strategy you already have.
Beyond that, I would recommend running your trading system on a demo account for at least a month or so before going live.
Good luck and let me know how everything goes.
Happy trading,
Tad
One area where you have to really be careful is in trusting your backtesting results. Especially in Metatrader 4, the backtester has some serious problems. A few things to consider:
Make sure you are using reliable data. The data supplied by metaquotes is garbage but there are plenty of free sources online. I would do some research and make sure you have reliable data before you do any backtesting.
Metatrader also does this very neat trick where the current spread at the time you run your backtest is applied to all your simulated trades. This can be very misleading and if you run your backtest during the weekend, you're bound to get some interesting results. You should make sure that you are using a realistic spread in all your backtests. You can view the spread used in the backtest under the "symbol properties" menu in the strategy tester.
The mql4 community is great so I would spend some time looking at expert advisors posted in the code base and the questions in the forums. Though most of those EAs are most likely not very profitable, you should be able to get some ideas or figure out how to code a strategy you already have.
Beyond that, I would recommend running your trading system on a demo account for at least a month or so before going live.
Good luck and let me know how everything goes.
Happy trading,
Tad
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