Trading Systems:
Today, the use of information and trading platforms has become, de facto, a requirement for business success in the financial markets. Its advantages compared with conventional trading schemes include, for example, an unprecedented processing speed and faster information delivery to end users, a level of integration with data providers and a wide range of technical tools.
At the same time, when opening an account with a brokerage firm the investor can not simultaneously manage the analysis and trade in real time using more than 4-6 financial instruments during the twenty-four (24) hours a day, seven (7) weekdays. This leads to the need for automated trading systems as runtime client / server and programs for the control of these systems (scripts).
Various software components comprise the target market sector analysis and forecasting total trade and administration. The components of a trading platform provides its clients-brokers, dealers, traders, analysts and consultants who need financial-service (at the time, the place and the way they are needed).
The software offers a wide variety of functions, depending on the needs, and trading platforms which differ, first, on the functionality of client / server and list of services provided by the financial company once the account has It has been opened. So far, however, only a relatively small number of software solutions include components that automate trade.
MetaTrader 4 is an excellent trading platform offered by the most serious of intermediaries; designed and developed by MetaQuotes Software Corp., a company that makes software tools, but does not offer brokerage service, the platform is licensed by Metaquotes forex brokers. The platform includes an integrated development environment MQL4 IDE, which is a revolutionary tool. The language similar to C language is very fast and functional. Developers can use it to create virtually any trading robot or custom technical indicator.
From the point of view of programming, MQL4 is much more convenient than its predecessor, this language is more geared to professional programmers, while MQL II, in my opinion, financial experts adjustment wishing to develop commercial programs themselves ( or experts) advisors.
The trading platform Omega Research is another very popular and independent forex platform, developed by TradeStation Technologies Inc. platform has long proved its worth on the world market, and from that date, experts believe it is the best system for technical analysis. The IDE called Omega Research PowerEditor aims to create control programs in EasyLanguage (EL).
The main advantage of language is striking is the ease (hence the origin of the name) to place orders opening and closing. The corresponding program instructions can be written as if they made a order to our broker in normal human language. In MQL4, for example, placing the order to open a position would involve about a dozen different parameters. In EasyLanguage, you can use a brief statement to express the same. Working with technical indicators is simple, too. But we must not fall into the illusion: when creating these simple commands, developers of language sacrificed functionality and limited the possible ways to use a particular function, therefore, effectively depriving the IDE users the opportunity to implement their own algorithms.
TradeStation decided not to create extensive libraries of business functions and utilities, but limited to only a core set. As a result, the functionality offered to users is not scarcer than the product of MetaQuotes all. PowerEditor offers a built-in dictionary that allows users to search and get help on the available functions. Another useful tool for highlighting is a creator of strategies. By using the creative strategies, the user can easily create a basic algorithm for trade program, and then modify and adjust as needed.
EasyLanguage is a veteran and pioneer in the field of creating automated trading systems for the stock market. It has been the basis for the development of MQL II. EasyLanguage be a good choice for programmers, but still it is better to analyze the market-oriented financial experts.
expert financial professionals can choose the ProTrader2 or ProTraderFX platform as their working tool depending on the financial markets – securities or currencies, respectively. The two platforms are developed thanks to support of PFSoft LLC. While offering the ProTrader (PTL) language developed especially named PTL Builder IDE also offers the opportunity to create scripts in MQLII, MQL4 and EasyLanguage. To do this, the program text is translated into a language-independent code. Therefore, at runtime, no matter what language it was written the script. This technology not only allows the creation of new scripts, but can freely use all the accumulated collection of scripts that many experienced traders possess.
The main idea put into the new script language is to ensure maximum reliability and predictability of running scripts. The PTL language is constructed so that the possibility of making a mistake in the text-script minimize potentially dangerous points will be detected even before the script is tested or thrown.
Regardless of the chosen programming language, the platform works with verified managed code while the script runs. This technology developed by Microsoft allows proper handling errors that can not be detected before the script is run. This means that the program an error will occur and will not perform unwanted operations that may be due to serious errors or damage caused by another program, for which the holder of the account at the end would have to pay.
The PTL Builder IDE serve you well to financial and programmers thanks to its support for programming languages and tools provided as a tester / debugger experts.
It provides a basic comparison between the capabilities offered by each in the following table. Approaches for Creating Automated Trading Systems And Recommendations For Use Them Needless to mention that the choice of an information platform and negotiation should be analyzed seriously. For those who plan to use an automated trading system in your business, below are some points that I would recommend based on my personal experience.
First, define the type of tasks automated trading system. These include:
Real trading: open and close positions of instrument (s) selected (s).
secondary support – types of functions. These may include placing protective orders, creating and sending notifications.
By analyzing different technical analysis tools use their own algorithm. Now, after studying the comments of Internet users and perhaps you consulted your broker, proceed to get the feel of the products offered. I recommend to you not only have a cursory look, but to test the system for a few days, fortunately, most large companies will allow you to sign up for a demo account to test. Pay attention to the convenience of both IDE and accompanying tools, and reliability and safety of control programs created with the IDE.
If you are planning to create their own scripts, take the time to study the documentation for the programming language and IDE. Naturally, the scripts must be written by qualified in the field of programming and finance professionals. In case you want to use one of the classic programs, remember that are good for testing the automated trading system or to be used as a basis for their own programs, but as self-sustaining are of little use.
If you decide to use programs written for application developers note that a good solution will have to be paid. But the price of adjusted strategies using advanced mathematical techniques and economic and especially for the winners and finalists of automated trading championships may exceed $ 1,000.
When using an automated trading system, test your scripts. The procedure may be as follows:
Remember that there’s absolutely perfect advisers. Do not let them sell the Brooklyn Bridge-if you have a system that brings great benefits, it will sell? Just a tip- comprehensive and rigorous analysis will help you get a good impression about the script offered.
Usually, vendors describe their products and the results of their own tests. In most cases, however, such results are very steep. Based on the theorem of the NFL, it is fair to say that it is not possible to create a script that will be the best of all time.
Some professional programmers use sophisticated mathematical tools to provide programs of artificial intelligence neural networks, as evolutionary algorithms and prediction are not surprising. I would not recommend overestimating these systems- complex prediction algorithms are very sensitive to errors and parameter settings, while simple systems are not much help to the advisor when generating trading signals, and can only be used for increase the price of the script.
In this article, it is not about the programming rules for creating advisers, or the specifics of writing scripts in a particular language. There are whole books and articles on these topics. My goal was to present some points that will be quite important, but have not been sufficiently covered by existing publications.
Automated trading systems: allies or enemies? When used carefully and without hasty judgments, automated trading system can facilitate the work of financial expert and bring certain benefits. However, when used incorrectly or incompletely tested the automated trading system can lose money entrusted to him.
Remember that an automated trading system will not do the job without any effort on your part. It is used to solve their current problems and not add new ones.
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