Friday, 11 October 2013

To code or not to code - that is the question

Recently, I had a request from a forum member of SteveHopwood.com to code an Expert Advisor (EA) based on an indicator.

I could probably code this EA (with no frills) in less than a day using the shell EA code. Programming has been my bread and butter for more than 15 years and I've grown to understand my clients very well.

First, clients rarely know what they want. In this case, the member is probably after the holy grail, and eventually this will lead to "scope creep" to add in more filters and trade management. Second, their idea is probably not new, and they are just reinventing the wheel. Third, they are probably not traders otherwise they wouldn't be searching for the holy grail. Hence, I would not even bother to code this EA.

However, if certain conditions have been met, I may be interested in coding an EA. First, the client must have used this system manually and has at least doubled his account recently. Second, he must not be reinventing the wheel, such as copying an idea from a commercial EA. Third, he should not request for me to put in place a fancy trade management as it does not make a lousy trading system better, i.e. martingale.

You may think that these conditions are excessive, but I am working on my own EA based on these criteria. First, I have doubled my account in manual trading using my own system. Second, I did not copy the idea or reinvent the wheel, as it is original based on my own system. Third, I do not have a sophisticated trade management to be profitable.

So, if you really think that your EA can be worthy of my time, then prove to me that your system is as good as the above system, and have met my criteria. Otherwise, I suggest you hire a no-frills programmer who has no trading capability.

2 comments:

  1. I would like to recommend that you use the ultimate Forex broker - AvaTrade.

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  2. Forex trading is alot more easier when its traded by an expert advisor and EA Builder allows you to create your own free forex robot.

    ReplyDelete