$600-$800 week ? - page 4
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ok so after I learn how to code..then what?
ES
ok so after I learn how to code..then what? ES
ES, i've never taken a programming course in my life and even I've been on and off learning it for about two years. The easiest way to do it is to take other people's EA's that are in the public domain and modify them to do what you want.
A little piece of code here a little piece of code there.. and there you have a working EA that didn't require much original thought. It's the easiest and fastest way to learn how an EA is to be structured/constructed.
Once you begin to understand the language and how an idea can be put down in mql code, it's actually not very difficult.
ok so after I learn how to code..then what? ES
- then you can explore for yourself, exactly what does and doesn't work!
on coding: start small and dont even think about writing your dream EA yet if coding is new to you. its pretty easy to get a demo autotrading and youll slowly add functions as your understanding grows eventually youll be able to put your basic strategy into an EA. once you start coding youll pick up a lot from looking at other peoples code. this is prob a 6-12 month process.
but MT4 is pretty easy and logical once you start playing around with it but as always experienced coders have an edge because the code writing process doesnt interfere - i can just think of a new feature and 'POOF' its in my EA. most working EA are prob with their owners since the continuous tweaking is what makes it eventually shine.
some experienced coders admit that lagging indicators do not work....so does that leave price action only?
ES
- then you can explore for yourself, exactly what does and doesn't work!
The problem is... by the time you find a way to make ends meet...someone moves the ends.
Im guessing by the time you find out how to code your EA, the market would've already changed against it.
some experienced coders admit that lagging indicators do not work....so does that leave price action only? ES
I believe that almost all indicators are useless - and this was 'proven' (as far as the older stuff was concerned) a while back where it was shown statistically that all indicators were no better than random enteries and exits over the long term. If memory serves, RSI was seen to have a very slight 'edge'.
I have said it many times on this forum that I believe that the markets have changed significantly in the past year. If you were able to code you could easily 'prove' this to yourself by knocking up a martingaler with a simple bale-out based on percent of account d/d. What you see is that this percentage has been rising continually. The only strategies that are still profitable seem to be scalpers of one sort or another (not necessarily of the 'winwin' variety).
And yes, the EA stats I posted are the result of 'price-only' trading...
lagging indicators work and are fairly accurate in predicting general direction - search "Cornflower" on forexfactory.com (very nice manual system based on simple moving averages). thats what they're used for - hinting market direct.
leading indicators predict but are pretty inaccurate. you have to create a system that combines a LOT of systems to make a barely decent guess.
I believe that almost all indicators are useless - and this was 'proven' (as far as the older stuff was concerned) a while back where it was shown statistically that all indicators were no better than random enteries and exits over the long term. If memory serves, RSI was seen to have a very slight 'edge'.
I have said it many times on this forum that I believe that the markets have changed significantly in the past year. If you were able to code you could easily 'prove' this to yourself by knocking up a martingaler with a simple bale-out based on percent of account d/d. What you see is that this percentage has been rising continually. The only strategies that are still profitable seem to be scalpers of one sort or another (not necessarily of the 'winwin' variety).
And yes, the EA stats I posted are the result of 'price-only' trading...I agree about uselles of indicators. I first came to arena of forex from Hyips and autosurfs basically it was about year ago, i was just playing with forex like casino. Then i stick to trading and working with it seriously about 5 - 6 month ago.
So i tried tons of indicators a lot a lot, a lot from here a lot from forexfactory and all other forums, basically lots of russian forums as russian my native language so all sucks, technical analyze sucks.
now i just fllow price action or use simple old school Channels and heiken ashi indicator also could be shit but i used to compare it on few timeframes.
lagging indicators work and are fairly accurate in predicting general direction - search "Cornflower" on forexfactory.com (very nice manual system based on simple moving averages). thats what they're used for - hinting market direct. leading indicators predict but are pretty inaccurate. you have to create a system that combines a LOT of systems to make a barely decent guess.
I was using Cornflower about a month, sad to say it did not feet my trading style and i was looosing loosing
but now i think all lagging indicators could be usefull in special time, or for example I still trade heiken ashi based from Steiniz EA i think you all know it, so I mean i throw away ea and took just indicators, and trade only London open so I am able to take some nice rallys inspite indicators are lagging.
but i also advice to read cornflower there is somewhere book also