MetaTrader Robot Ported to Dukascopy JForex
To celebrate the fact that forex broker Dukascopy have at last officially become a Swiss bank we have rewritten our first example robot to work on their JForex platform. Take a look at the JForex source code on our community forum.
The first thing this involved was using yet another different computer language. Dukascopy refer to trading systems as "strategies", and if you want to program one you'll need to learn the Java language. Java is based on the C and C++ languages, and therefore does have some similarities with the MQL4 and MQL5 languages used by MetaTrader. JForex and Java provide some advantages over MetaTrader too. Unlike MetaTrader, Java and hence the JForex platform run on other computer operating systems apart from Microsoft Windows. If you create a trading system for JForex it will run just as well (if not better!) on Linux or Apple's Mac OS, not to mention all the other devices on which the Java software platform is now available.
If you're interested in backtesting scalping strategies then another feature of JForex is likely to be of interest to you. A major limitation of MetaTrader is that historical data is only available in one minute bars at best. Dukascopy provide 10 second bars and ticks as well. Also unlike MetaTrader, those ticks come complete with both the bid and the ask prices. The ticks are not simulated, and neither is the ask. If you've ever had an irresistible urge to try backtesting news trades then this is a golden opportunity!
The JForex historical tester does have one disadvantage compared to the MetaTrader strategy tester. Currently to take a look at an equity curve you have to run the backtester in visual mode, which slows things down somewhat. Here's one we produced using our new "robot" on EUR/USD for 2010 to date:
JForex random entry system on EUR/USD for H1 2010
Maybe using random entries isn't such a great idea after all? Whichever way you look at it, if you're more interested in accurate backtests than pretty pictures you might like to try out a Dukascopy JForex demo account at some point in the not too distant future.
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Comments on MetaTrader Robot Ported to Dukascopy JForex
Thanks for this info. Is it somehow difficult to open an account with Dukascopy?
Opening a demo account is easy enough. Just follow the link above and fill in the form!
Opening a live account is a bit more difficult however. The exact procedure differs from country to country, but basically you have to get your ID verified by a lawyer. Then you mail the paperwork, including your signature and that of the lawyer, to Switzerland. Then when your account is open you wire your initial deposit to Switzerland.
All in all somewhat more expensive and time consuming than opening an account with the average retail forex broker.