Curious How to Easily Make a Forex Trading Robot? Use Tradeworks!
For most forex traders , the term ” robot ” may not be a foreign term anymore. Robot, whose “official” name is Expert Advisor, is a computer program that allows automatic transactions in accordance with the logic (algorithm) entered. With a robot, a trader does not need to constantly monitor market movements to find opportunities.
To make a trading robot , one must understand the logic flow of the trading strategy that will be automated. Remember that the success rate of a trading robot depends on the strategy that is included in it.
Then you have to “translate” the flow of the strategy into the programming language. In general, robots for forex use the MQL language which is integrated with the MetaTrader trading platform.According to programmers, the MQL language is similar to C in programming.
The problem is not all traders understand programming languages. It can be said that very few forex traders happen to understand computer programming. As a result, only a few can make trading robots specifically for forex. Finally, traders who want to have a trading robot will usually use the programmer’s services to make robots for them and usually the service rates are not cheap.
How to get a trading robot?
If you master the programming language, you can make your own trading robot . All you need is a trading strategy that has proven its accuracy and profitability.
If you don’t understand programming, you can search for trading robots on the internet or in the Market in MetaTrader. Some are free, some must be purchased. If you search on the internet, usually these robots are sold at high prices too.
In order for the robot to remain active, you must also ensure that your MetaTrader remains online. If your MetaTrader dies, the robot will also be deactivated so that it cannot execute the transaction if there are opportunities that arise based on the input strategy.
Even though one reason people use robots – in addition to reducing psychological factors – is to find as many opportunities as possible even when you sleep. For this reason, most people who use trading robots hire VPS ( Virtual Private Servers ) to run MetaTrader 4 plus their robots. VPS providers “guarantee” that your MetaTrader 4 will always be online so that the trading robot is always active.
For some people, this is considered less economical, especially if it turns out he also has to pay to get the trading robot. You have to pay for the robot, you have to pay for VPS per month.
Nowadays a number of internet sites have emerged that allow you to automate your trading strategy in an easier way without the need to do coding (writing computer programs), commonly called “EA builder”. With this EA builder you can enter simple commands according to the logic flow of your trading strategy.
Most EA builders can be used for free and this method is easier than ordinary programming. It’s just that you still have to enter a lot of commands and the end result of the EA builder is still in the form of a program script that you still have to download and compile. After that you still have to install the robot in your MetaTrader 4.
Then came Tradeworks based in Copenhagen, Denmark. Tradeworks is not a robot, but a provider of “tools” to automate your trading strategy.Similar to EA builder, but easier and more complete. The features provided are far more complete and more user-friendly compared to ordinary EA builders, making it easier for users – even those who are very familiar with programming – to automate their trading strategies.
From several training conducted by Market Analyst & Education team, it turned out that the majority of training participants were able to automate trading strategies with a short time, of course when compared to manual programming with the MQL language.
In less than half an hour (including an explanation of the use of Tradeworks itself), training participants are able to automate a trading strategy that uses cross MA as the basis. Even to automate the MA strategy itself, it only takes less than 20 minutes, complete with money management and risk management arrangements.
In fact, only one in 20 trainees have knowledge of programming. This shows that Tradeworks is indeed easier to understand compared to manual programming methods or ordinary EA builders.
Not only that, strategies that have been automated through Tradeworks can be directly linked to the user’s MT4 trading account. You no longer need to download an automated strategy, because it will be directly connected to your trading account. You also no longer need to rent a VPS.