When Things Go Wrong with Your Expert Advisor

Feb. 7, 2010 - PRLog -- Sometimes, things may get wrong with your expert advisor during trading. Instead of formulating a new trading strategy and turn it into another expert advisor, you can save both time and money by performing the following measures:

Contact your provider if you detected any problems with the program. Sometimes, there are errors with the EA that even the programmer has failed to see. So, it is imperative to make sure that the program is working according to your desired specifications before moving on to other improvement methods and using the software in a live trading account. Back test and forward test trading data are extremely helpful in this case, as you would be able to identify specifically the areas of improvement for the EA.

Optimize EA parameter values. The Forex market is extremely volatile and thus, subject to changing market trends. Your backtesting data may have been profitable using the EA, but there is no guarantee that it would work just as good in the future. Therefore, prior experimentation with the EA parameter values is needed in order to optimize the EA for live trading. This could be difficult and may require a trial-and-error approach, especially if the EA has a lot of external parameters.

Specify your trading hours and timeframes. Identify possible days and hours wherein you’re EA won’t be able to trade effectively. Is your EA working fine during news releases? How about during the first and last trading days, wherein there are relatively fewer trades? Also, your program may not perform effectively on one chart timeframe and yet would still remain profitable on another. Proper timing and the identification of the best entry and exit points for the EA is important for profitable trading.

Make some modifications on the program. If all else fails, you may resort to speculating that your trading strategy may require some modifications and improvements in order to remain competitive. This may require professional help from your provider, and is often a less expensive option than creating another EA from scratch. Also, if you are going to use the same programmer, this would require lesser delivery time and lesser errors since the provider is already familiar with the trading strategy, with a few changes.

Expert advisors are helpful tools for the Forex trader. However, they are still software and can often go wrong at times. Therefore it is not only important to ensure that the program functions as you have desired, but also to ensure that it would remain profitable during live trading.

If you are interested in turning a certain winning trading strategy into an expert advisor, or wish to make some modifications with your expert advisor so it would remain profitable during live trading, Metatraderprogrammer.com would be able to help you. The company provides solutions and services that you will need to be able to turn your strategies into usable software, and can even decompile your existing programs and improve on them should you not have the source code.

# # #

Partially automate your trading. Get metatrader programming, mt4, mql4 and mql services in an affordable range.
http://www.metatraderprogrammer.com