How to create a trading robot?
In today’s lecture, we will share with you how to create a trading robot for free using strategy builder software.
Are you looking for a free trading robot to download with no strings attached? Just scroll to the bottom of this page and leave your email. Or you can continue reading this lecture and understand what is a trading robot and how to use it.
So what are the strategy builders?
Some call these software programs Expert Advisor Builders or MT4 Builders. Simply these are programs that allow us to automate different strategies without programming skills.
We just put the indicators, the Stop Loss, the Take Profit. We see the backtest immediately, we have a lot of analysis, and with one click, we can export the strategies as Expert Advisors. Simply, this is software that allows traders to automate their trading strategies.
So let’s imagine I want to start trading with a robot and I don’t know from where to start.
And this is the mass of people who want to do algorithmic trading, they start looking for robots, they want to buy some systems that will work automatically so they don’t spend time in front of the computer. That is actually possible but the truth is, it is super difficult to find a robot that will bring you constant results. And I say it is super difficult because most of the people out there are just selling robots.
Getting a trading robot from the MetaTrader marketplace
On the MQL5 official website of MetaTrader, there is a marketplace where you can get thousands and thousands of trading robots.
And some of them are cheap, others are quite costly like thousands of dollars for a single robot. And there is never a guarantee if this robot will bring you profits.
Personally, I have tested many and I never found a nice trading robot out there on the market. Simply said, the people, the developers who are selling these robots, make money from selling robots and not from trading with the robots. So be very careful if you decide to buy a trading robot because it’s tricky.
The best thing would be if you can rent the robot first for a few months to see how it will go. But usually, the backtests, the videos they will send you, it’s all fake and they just want to take your money. And they don’t care what will happen with that trading robot in the future. Is it bringing you money or it’s not bringing you money?
Now the thing is, to find a profitable robot that brings more profits than losses. Because every strategy, every trading robot, does profit but it does lose at the same time.
But of course, we want to use robots that bring us more profits than losses. So at the end of the day, we do profits.
The market is never the same
In fact, there is no guarantee that a trading robot will continue performing well in the future, never a 100% guarantee for that. Because the market changes, every day the market is absolutely different from the day before, different from all the days before.
And there is one old saying that history repeats itself on the market. That’s one of the biggest lies out there. You can see some similar patterns, some similar Candlesticks formations but it’s never ever the same.
If you find one day that has the very same M15 Candlesticks as another day, please send me that picture. Or let me know which is that date, I want to see it.
So what I’m saying is that even if you find a good robot, there is no guarantee it will continue trading profitably in the future. And you should know that you always take the risk. And it’s your own responsibility when you start trading with a robot, if you will put it on a Live account, you are simply taking the risk that this robot might bring you losses as well.
So, for example, in some of my courses, I include trading robots but they are for educational and demonstrational purposes. And these are the robots that I use but at the end of the day, it is your decision and your risk if you will be using those trading robots or not.
Hiring a developer to code the robot
And as I’ve said, I have struggled a lot buying different trading robots. The other thing I’ve been doing is to hire developers to automate my strategies. I worked in one Swiss company doing something between trading and offering robots from developers. It’s a total mess when you work with developers for Forex robots, sorry if you’re a developer.
But what I mean is, when you order a strategy to a developer who has no idea about trading, it is really hard to explain what exactly you want him to do. And they send the trading robot, there are mistakes, you bring back the robot, and it’s also costly. These guys, especially the good developers that automate strategies, charge between $50 and $100 per hour. And sometimes, automating a strategy takes them weeks, even months.
The Strategy Builders
Another solution to create a trading robot is using a software. There are software programs that we use to automate the strategies without programming skills. This is indeed a builder, you put the entry rules, the exit rules, the Stop Loss, the Take Profit, and the software creates the trading robot.
And then we see the backtest results, we can see what the statistics are until the moment. And then we have the possibility to export this Expert Advisor or the trading robot or this automated strategy with a few clicks. So we don’t do programming, the code comes ready and we can attach it on MetaTrader and start trading with it.
This is the idea of creating trading robots using a strategy builder software program. Some of these programs obviously are costly but they are costly because they save all of this money that we would spend for buying trading robots and for hiring developers. And if you want to test some strategy builders, the strategy builders that we use in Trading Academy, which we found most appropriate for beginners and advanced traders are Expert Advisor Studio and Forex Strategy Builder Professional.
I’ve been using them daily, right now I’m generating some strategies. This is how I personally succeed to automate the strategies I use. And it’s super easy actually to trade many strategies and not just one.
So that’s the idea of the strategy builders, guys. I’ll be happy to hear your experience with trading robots, developers, and strategy builders in the comments below. See you in another lecture.
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