Forex Autotrading – is this possible?
You like to got answer right now isn’t it? Ok, it’s possible… but that’s a hard nut to crack!
Aspects you should know to get this done:
1. Trading platform (Metatrader/Dukascopy/etc) with programming language (MQL/Java/etc) – forex robot is just a piece of code in some programming language.
2. Algorithms : indicator analysis, wave theory, automated news analysis, quantum physics algorithms - you need to find applicable model for forex market first before start coding.
3. Testing on historical data.
If you see profit in historical testing that’s good! But please note: profit in past is not profit in future! So test for some time on demo account or real account with relatively small balance.
If you have bought robot developed by other people you can know no details of algorithms and programming, but you need to test it anyway in 2 steps as described above (first on historical data, then on demo account).
In this blog I will discover more forex autotrading in details: some technical approaches will be described closely, and some open source solutions will be provided!