ForexMetals

I was able to put some serious effort into developing an expert adviser over the weekend. At this stage I believe I can build something that will be both relatively safe and profitable.

This is not an easy task!

Anyway, I do want to assure you that I have no intention of ever selling an EA. If it works I'll use it for myself. If it doesn't work, then I'd have nothing worth selling in any case. Something I might consider, if I can't build a good one for myself, is selling the EA framework that I'm developing.

What do I mean by framework?

I mean that creating a good trading system involves managing a lot of complexity. I intend to create a framework that will let different EA components perform small sub-tasks as part of a larger whole. This framework would make it easier for any programmer to plug in their own components.

For example, I expect that my trading robot framework will include the following independent components:

1) entry point requester
2) pending entry point executor
3) open position analyzer
4) position closer

Entry Point Requester
When I use the visual testing tool provided by MT4 I inevitably notice that my entry points are not optimal. However, it is very difficult to manage an intended entry over time as other entry signals may be generated. The entry point requester will queue up entry signals for further analysis.

Pending Entry Point Executor
Knowing that an entry point signal has arrived, the executor will loop through the pending requests and see whether or not they should be executed. Think about it. Imagine if you forced all entries to be one or two pips better than they are using your current trading tool?

Open Position Analyzer
Okay, now that you have an open position what should you do with it? I find that putting in hard stops and profit points to be less than optimal. For example, if you are in a long term profitable trend it may be advantageous to allow more profit to accumulate.

Position Closer
This portion is relatively simple. If a position is marked as needing to be closed, then it will be closed. Using a system such as this can allow your longer term trades to execute where they need to execute without being concerned about the order entry limitations of your provider.