Forex Trading Systems

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It's been an extremely busy week for Ray the Random Robot™, and he has undergone a number of cloning operations. First of all the MetaTrader 5 Automated Trading Championship 2010 finally got underway at midnight on Sunday, Moscow time.  Ray's multi-currency MT5 clone started perfectly, but he has had some teething troubles with EUR/USD and has now slipped back to 273rd position out of 314.

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Ray The Random Robot

Ray The Random Robot

Only a few short days ago we took the momentous decision to enter several automated trading competitions simultaneously. We've been burning numerous barrels of midnight oil here at Trading Towers ever since, and for the second time in as many weeks late last night we managed to successfully shoehorn some of the dumbest trading technology ever invented into our old friend Ray the Random Robot™. Then we managed to get him entered into another automated trading contest at the very last moment.

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As anticipated I received an email from FXCM last night, but it did seem just a touch impersonal. It started out by saying:

Dear Trader:

Code and Compete for a chance to win cash prizes in the FXCM Automated Trading Challenge. Sign up for a contest demo and put your automated strategy to the test with zero risk to your own money.

A bit further on it posed this rhetorical question:

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We've recently improved our MetaTrader 4 London Breakout expert advisor, and now we've released a port of that "robot" to MetaTrader 5, using the new object-oriented features of the MQL5 language. You can download the MQL5 source code from our Community forum.

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MetaQuotes announced yesterday that from now on the source code for MetaTrader 5 expert advisors written by 3rd parties (such as the Trading Gurus!) will be made available for download through the MT5 client terminal.  To celebrate this fact we've rewritten our latest "Really Random Robot" in an object-oriented style, and uploaded it to the MQL5 Code Base.  MetaQuotes have already kindly translated the instructions into Russian for us!  We're eagerly waiting to discover how many MetaTrader 5 beta testers download it and try it out. So far today we're up to 16.

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We've been beta testing FXCM's new Strategy Trader automated trading platform for a couple of months now, and after quite a few trials and tribulations we've finally got our trusty first example robot to work successfully on it.  FXCM refer to trading systems written for Strategy Trader as "Strategy Advisors", and they are implemented based around bars rather than ticks like MetaTrader 4. That means you really need to run this advisor on a tick chart to stay in the market 100% of the time, like the MT4 version does.  We still haven't managed to get that working reliably, but it does seem to run fine on a one minute chart and up. If you'd like to take a look you can download the C# source code from our community forum.

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One of the drawbacks of MetaTrader 4 has always been that whilst you can write a multi-currency expert advisor for the platform, the MT4 strategy tester only allows you to backtest one currency at a time.  Now that the bugs in the MetaTrader 5 strategy tester are gradually being removed, we're just starting to use it for some serious testing.

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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.

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A user of one of our example robots informed us that a system called 1 Minute Daily seemed to be getting people on the forex forums excited, and asked us to look into it.  Apparently, unlike so many other forex trading systems sold through ClickBank these days, this one doesn't come complete with a "robot".  The way it was described to us it sounded an awful lot like a member of the group of range breakout systems often referred to as "London breakout systems".

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Having ported our example moving average crossover MT4 robot to MetaTrader 5 following the recent launch of the MT5 strategy tester we've now taken the next step. We've rewritten the expert advisor using the object oriented framework supplied by MetaQuotes as part of MetaTrader 5. You can take a look at our source code and see if this new way of producing robots appeals to you or not.

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