Computerized Dealing Techniques for Economical Marketplaces and Suggestions for Their Usage
Today, using details and trading systems has become a de facto need for successful exchanging the financial markets. Their advantages as compared to traditional trading techniques consist of, for example, an unmatched speed of managing and distribution of details to end customers, the level of incorporation with data suppliers, and a wide range of built-in specialized analysis equipment.
At one time, an trader starting an consideration with a agent basically cannot at the same time manage the real-time analysis and business in more than 4-6 financial equipment in several markets 24 hours 7 days a week. This triggers the need to employ automatic trading systems in the form of playback atmosphere with customer and hosting server areas and the applications to management methods (scripts).
2. Relative Research into the Problem Area
Various application elements accept the whole target industry of the market-from statistics and predicting to complicated business and management. The elements of an investing foundation provide its clients-brokers, traders, investors, financial experts and advisors-just the service they need at the very moment they need it, from immediate round-the-clock access to details of concern through mobile phone devices, to multi-move trading functions in the significant customer terminal.
The application industry provides a great many of details and trading systems that vary, first of all, in the performance of the consumer and hosting server areas, and the list of services offered by the financial company once an consideration has been started out. However, only a relatively few of applications consist of the elements that improve trading.
2.1. MetaTrader4-based Solutions
One of the most widely used business foundation items appear to be MetaTrader4, designed by MetaQuotes Software Corporat?on for Foreign exchange industry trading. The foundation includes a growth atmosphere (IDE) MetaEd?tor, suitable for composing applications in a growth language known as MetaQuotes Language, or MQL4 for brief. The language's format is based on the traditional C language format, and the flow reasoning has not been significantly modified since the past edition of the foundation that used MQL II as the growth language. The new automated business structure is, certainly, an progress of the past one. Both dialects function excellent performance, with an the best possible set of built-in trading and application features which is quite sufficient to apply the primary functions, and a service to determine custom features to help apply non-standard ideas.
From the growth perspective, MQL4 is much more convenient that its predecessor; this language is more focused at expert developers, while MQL II, in my opinion, will rather suit specialists wanting to build trading applications (or trading consultants, in the MetaQuotes terminology) of their own.
2.2. Ω Research-based Solutions
In the New World, many organizations use the Ω Research foundation designed by TradeStation Investments, Inc. This foundation has lengthy ago proven its value at the globally industry, and to date professionals consider it to be the best program for specialized analysis. The offered IDE known as Ω Research PowerEditor is designed to make management applications in EasyLanguage (EL).
The language's big benefit that hits the eye is the easiness (hence is the name) of putting buying and selling purchases. The corresponding program guidelines can be published such as if we were developing the transaction to our agent in the simply human language. In MQL4, for example, putting in the transaction to open a position would include specifying about a number of of various factors. In EasyLanguage, the same can be indicated in a brief declaration using a few words. Dealing with specialized signs is about that easy, too. But don't drop under an illusion: when developing these easy orders, language designers diminished the performance and limited the possible ways of using a particular function, therefore effectively starving the IDE customers of to be able to perfectly apply their own methods.
TradeStation decided not to make extensive collections of built-in trading and application features but to limit to only an essential set. As the foundation impressive, the variety of features published by both in-house and third-party designers increased, and TradeStation basically included them as user-defined features into the database of its applications. As a result, the performance offered to customers is not in the least scarcer than that of MetaQuotes product.
PowerEditor provides a built-in thesaurus that lets individual search and get help on the available features. Another useful device value referring to is the technique designer. Using the technique designer, the individual can easily make a primary criteria for his or her trading program, and then change and modify it as necessary.
EasyLanguage is an old-timer and innovator in the area of developing automated trading systems for the currency trading market. It was the foundation for the growth of MQL II. EasyLanguage will be the best choice for developers, but still a better one for specialists more focused at assessing the industry than trading.
2.3. ProTrader-based Solutions
Professional specialists can choose the ProTrader2 or ProTraderFX foundation as their operating device, based on the kind of the financial market-stock or Forex, respectively. The two systems are designed and reinforced by PFSoft LLC. While presenting the specially designed ProTrader Language (PTL), the offered IDE named PTL Builder provides also to be able to make applications in MQLII, MQL4 and EasyLanguage. For this, the written text of the program is converted to a language-independent value. Therefore, at playback it does not matter in which language the program was published. This technological innovation does not only enable developing new applications, but makes it possible to use easily the whole gathered collection of applications that many experienced investors possess.
The main idea put into the new scripting language was to ensure maximum stability and of a routine of the applications being run. The PTL language is designed so as to reduce the likelihood of making an error in the written text of a customer's script-the very dangerous factors will be recognized even before the program is examined or released.
Regardless of the growth language chosen, the foundation works with confirmed handled value while running the program. This Microsoft-developed technological innovation enables proper managing of mistakes that cannot be recognized before the program is run. This implies the program will not fall short and will not execute any unwanted functions that might be due to critical mistakes or damage brought on by another program, for which the consideration owner would eventually have to pay.
The PTL Builder IDE will serve well both specialists and developers thanks to its assistance of different growth dialects and offered resources such as specialist and debugger.
2.4. Solution Comparison
The above IDEs have their specific function sets. The table below provides a summary evaluation of the abilities offered by each.
3. Techniques for Creating Computerized Dealing Techniques and Suggestions for Using Them
It hardly needs referring to that selecting an details and trading foundation should be taken with all severity. For those who plan to use a computerized application program in their business, below are some factors I would suggest considering, based on my personal expertise.
3.1. Picking a Working Environment
First of all, determine the kind of projects the automated application program is to execute. These could be:
Actual trading: buying and selling roles in selected instrument(s).
Secondary support-type features. These could consist of putting safety purchases, developing and delivering out reviews of announcements.
Analyzing the industry with different specialized analysis resources using your own criteria.
Now, after you have analyzed individual feedback on the Internet and perhaps discussed your agent, continue to getting the feel of the items offered. I highly motivate you not to just have a quick look, but to check the program for a day of two, fortunately, most of the large organizations will let you sign up for a test consideration for examining. Pay attention to both the comfort of the IDE and the resources that go with it, and to stability and security of the management applications created with the IDE.
3.2. Making a Control Program
If you are planning to make your own applications, take enough a chance to study the certification for the growth language and the IDE. Naturally, for a computerized application program to be professionally structured, the applications should be published by qualified professionals in the area of growth and finance. In case you wish to use one of the traditional applications, keep in mind that most of them are of test, display nature. They are excellent for examining the automated application program or to be used as a foundation for your own applications, but as self-sustaining, ready-to-use alternatives they are of little acquire.
If you decide to use applications published by third-party designers, keep in mind that excellent alternatives will have to be paid for. The cost of one impressive technique differs between $300 and $500, but the cost for fine-tuned strategies that use impressive statistical and economic techniques and especially for champions and runners-up of automated trading tournament may surpass $1,000.
3.3. Testing Scripts
When using a computerized application program, always check your applications. The procedure can be as follows:
1. Test the program in a program specialist (if such service is available in your IDE) several times, different the data interval, the device being exchanged, and the program configurations. Try to model the conditions near to the real state of the industry.
2. Test the program in a test consideration (if such an chance is available). At this level, you should let the program run for a completely quite a while (it is determined by the interval of the chart). Do not stop the check if the program has at once produced a big gain or a big loss. The effectiveness of the program can only be approximated after it has worked for a significant interval.
3. Run the program in the live consideration. At this level, it is not recommended to intervene with the script-for example, near the roles it has started out or change their settings-or you can disappointed the internal reasoning of the program.
3.4. How Not to Fall Feed to Techniques When Picking a Script
Remember that there are no absolutely perfect experts. So, do not let them offer you the Brooklyn Bridge-if you had a program that delivers in fantastic earnings, would you offer it? There is only one advice-a extensive comprehensive examining will help you get the right impact about the program offered.
Usually, program suppliers explain their items with the outcomes of their own examining. In most cases, however, such outcomes are very angled. Keep in mind examining should always be conducted on several backgrounds, or you can basically modify to one history fragment and show sky-high outcomes. Centered on the NFL theorem, it is reasonable to say that it is impossible to make a program that would the best of all those current, in all equipment.
Some expert developers use impressive statistical resources to endow their applications with synthetic intelligence-neural systems, predicting and transformative methods are no longer amazing. I would not suggest overestimating such systems-complex predicting methods are very delicate to mistakes and parameter configurations, while easy techniques are not of much help to the consultant when it comes to generating business alerts, and can only be used to raise the cost of the program.
4. Conclusion
In this article, I neither talk about any growth rules for developing the consultants, nor the details of composing applications in a particular language. On these topics, there are whole books published as well as a variety of articles. My aim was to present several factors which I think to be quite essential but which have not been completely covered in current guides.
So, are automated trading systems your friend or enemy? When used carefully and without fast conclusions, a computerized application program can assist in the financial expert's work and bring in certain earnings. But when used wrongly, incompletely examined, or having configurations modified frequently, the automated application program can lose the money you give to it.
Remember that a computerized application program is not going to do your job for you without any effort on your part. Use it to fix your current problems and not add new ones.
5. References
1. MetaQuotes — designer of MetaTrader, MQL2 and MQL4
2. TradeStation — designers of TradeStation and EasyLanguage
3. PFSoft — designers of ProTraderFX, ProTrader2 and ProTraderLanguage
by Nikita Laukhin
Today, using details and trading systems has become a de facto need for successful exchanging the financial markets. Their advantages as compared to traditional trading techniques consist of, for example, an unmatched speed of managing and distribution of details to end customers, the level of incorporation with data suppliers, and a wide range of built-in specialized analysis equipment.
At one time, an trader starting an consideration with a agent basically cannot at the same time manage the real-time analysis and business in more than 4-6 financial equipment in several markets 24 hours 7 days a week. This triggers the need to employ automatic trading systems in the form of playback atmosphere with customer and hosting server areas and the applications to management methods (scripts).
2. Relative Research into the Problem Area
Various application elements accept the whole target industry of the market-from statistics and predicting to complicated business and management. The elements of an investing foundation provide its clients-brokers, traders, investors, financial experts and advisors-just the service they need at the very moment they need it, from immediate round-the-clock access to details of concern through mobile phone devices, to multi-move trading functions in the significant customer terminal.
The application industry provides a great many of details and trading systems that vary, first of all, in the performance of the consumer and hosting server areas, and the list of services offered by the financial company once an consideration has been started out. However, only a relatively few of applications consist of the elements that improve trading.
2.1. MetaTrader4-based Solutions
One of the most widely used business foundation items appear to be MetaTrader4, designed by MetaQuotes Software Corporat?on for Foreign exchange industry trading. The foundation includes a growth atmosphere (IDE) MetaEd?tor, suitable for composing applications in a growth language known as MetaQuotes Language, or MQL4 for brief. The language's format is based on the traditional C language format, and the flow reasoning has not been significantly modified since the past edition of the foundation that used MQL II as the growth language. The new automated business structure is, certainly, an progress of the past one. Both dialects function excellent performance, with an the best possible set of built-in trading and application features which is quite sufficient to apply the primary functions, and a service to determine custom features to help apply non-standard ideas.
From the growth perspective, MQL4 is much more convenient that its predecessor; this language is more focused at expert developers, while MQL II, in my opinion, will rather suit specialists wanting to build trading applications (or trading consultants, in the MetaQuotes terminology) of their own.
2.2. Ω Research-based Solutions
In the New World, many organizations use the Ω Research foundation designed by TradeStation Investments, Inc. This foundation has lengthy ago proven its value at the globally industry, and to date professionals consider it to be the best program for specialized analysis. The offered IDE known as Ω Research PowerEditor is designed to make management applications in EasyLanguage (EL).
The language's big benefit that hits the eye is the easiness (hence is the name) of putting buying and selling purchases. The corresponding program guidelines can be published such as if we were developing the transaction to our agent in the simply human language. In MQL4, for example, putting in the transaction to open a position would include specifying about a number of of various factors. In EasyLanguage, the same can be indicated in a brief declaration using a few words. Dealing with specialized signs is about that easy, too. But don't drop under an illusion: when developing these easy orders, language designers diminished the performance and limited the possible ways of using a particular function, therefore effectively starving the IDE customers of to be able to perfectly apply their own methods.
TradeStation decided not to make extensive collections of built-in trading and application features but to limit to only an essential set. As the foundation impressive, the variety of features published by both in-house and third-party designers increased, and TradeStation basically included them as user-defined features into the database of its applications. As a result, the performance offered to customers is not in the least scarcer than that of MetaQuotes product.
PowerEditor provides a built-in thesaurus that lets individual search and get help on the available features. Another useful device value referring to is the technique designer. Using the technique designer, the individual can easily make a primary criteria for his or her trading program, and then change and modify it as necessary.
EasyLanguage is an old-timer and innovator in the area of developing automated trading systems for the currency trading market. It was the foundation for the growth of MQL II. EasyLanguage will be the best choice for developers, but still a better one for specialists more focused at assessing the industry than trading.
2.3. ProTrader-based Solutions
Professional specialists can choose the ProTrader2 or ProTraderFX foundation as their operating device, based on the kind of the financial market-stock or Forex, respectively. The two systems are designed and reinforced by PFSoft LLC. While presenting the specially designed ProTrader Language (PTL), the offered IDE named PTL Builder provides also to be able to make applications in MQLII, MQL4 and EasyLanguage. For this, the written text of the program is converted to a language-independent value. Therefore, at playback it does not matter in which language the program was published. This technological innovation does not only enable developing new applications, but makes it possible to use easily the whole gathered collection of applications that many experienced investors possess.
The main idea put into the new scripting language was to ensure maximum stability and of a routine of the applications being run. The PTL language is designed so as to reduce the likelihood of making an error in the written text of a customer's script-the very dangerous factors will be recognized even before the program is examined or released.
Regardless of the growth language chosen, the foundation works with confirmed handled value while running the program. This Microsoft-developed technological innovation enables proper managing of mistakes that cannot be recognized before the program is run. This implies the program will not fall short and will not execute any unwanted functions that might be due to critical mistakes or damage brought on by another program, for which the consideration owner would eventually have to pay.
The PTL Builder IDE will serve well both specialists and developers thanks to its assistance of different growth dialects and offered resources such as specialist and debugger.
2.4. Solution Comparison
The above IDEs have their specific function sets. The table below provides a summary evaluation of the abilities offered by each.
3. Techniques for Creating Computerized Dealing Techniques and Suggestions for Using Them
It hardly needs referring to that selecting an details and trading foundation should be taken with all severity. For those who plan to use a computerized application program in their business, below are some factors I would suggest considering, based on my personal expertise.
3.1. Picking a Working Environment
First of all, determine the kind of projects the automated application program is to execute. These could be:
Actual trading: buying and selling roles in selected instrument(s).
Secondary support-type features. These could consist of putting safety purchases, developing and delivering out reviews of announcements.
Analyzing the industry with different specialized analysis resources using your own criteria.
Now, after you have analyzed individual feedback on the Internet and perhaps discussed your agent, continue to getting the feel of the items offered. I highly motivate you not to just have a quick look, but to check the program for a day of two, fortunately, most of the large organizations will let you sign up for a test consideration for examining. Pay attention to both the comfort of the IDE and the resources that go with it, and to stability and security of the management applications created with the IDE.
3.2. Making a Control Program
If you are planning to make your own applications, take enough a chance to study the certification for the growth language and the IDE. Naturally, for a computerized application program to be professionally structured, the applications should be published by qualified professionals in the area of growth and finance. In case you wish to use one of the traditional applications, keep in mind that most of them are of test, display nature. They are excellent for examining the automated application program or to be used as a foundation for your own applications, but as self-sustaining, ready-to-use alternatives they are of little acquire.
If you decide to use applications published by third-party designers, keep in mind that excellent alternatives will have to be paid for. The cost of one impressive technique differs between $300 and $500, but the cost for fine-tuned strategies that use impressive statistical and economic techniques and especially for champions and runners-up of automated trading tournament may surpass $1,000.
3.3. Testing Scripts
When using a computerized application program, always check your applications. The procedure can be as follows:
1. Test the program in a program specialist (if such service is available in your IDE) several times, different the data interval, the device being exchanged, and the program configurations. Try to model the conditions near to the real state of the industry.
2. Test the program in a test consideration (if such an chance is available). At this level, you should let the program run for a completely quite a while (it is determined by the interval of the chart). Do not stop the check if the program has at once produced a big gain or a big loss. The effectiveness of the program can only be approximated after it has worked for a significant interval.
3. Run the program in the live consideration. At this level, it is not recommended to intervene with the script-for example, near the roles it has started out or change their settings-or you can disappointed the internal reasoning of the program.
3.4. How Not to Fall Feed to Techniques When Picking a Script
Remember that there are no absolutely perfect experts. So, do not let them offer you the Brooklyn Bridge-if you had a program that delivers in fantastic earnings, would you offer it? There is only one advice-a extensive comprehensive examining will help you get the right impact about the program offered.
Usually, program suppliers explain their items with the outcomes of their own examining. In most cases, however, such outcomes are very angled. Keep in mind examining should always be conducted on several backgrounds, or you can basically modify to one history fragment and show sky-high outcomes. Centered on the NFL theorem, it is reasonable to say that it is impossible to make a program that would the best of all those current, in all equipment.
Some expert developers use impressive statistical resources to endow their applications with synthetic intelligence-neural systems, predicting and transformative methods are no longer amazing. I would not suggest overestimating such systems-complex predicting methods are very delicate to mistakes and parameter configurations, while easy techniques are not of much help to the consultant when it comes to generating business alerts, and can only be used to raise the cost of the program.
4. Conclusion
In this article, I neither talk about any growth rules for developing the consultants, nor the details of composing applications in a particular language. On these topics, there are whole books published as well as a variety of articles. My aim was to present several factors which I think to be quite essential but which have not been completely covered in current guides.
So, are automated trading systems your friend or enemy? When used carefully and without fast conclusions, a computerized application program can assist in the financial expert's work and bring in certain earnings. But when used wrongly, incompletely examined, or having configurations modified frequently, the automated application program can lose the money you give to it.
Remember that a computerized application program is not going to do your job for you without any effort on your part. Use it to fix your current problems and not add new ones.
5. References
1. MetaQuotes — designer of MetaTrader, MQL2 and MQL4
2. TradeStation — designers of TradeStation and EasyLanguage
3. PFSoft — designers of ProTraderFX, ProTrader2 and ProTraderLanguage
by Nikita Laukhin
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