The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 80,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

Forex Robots - dead or alive?

Anything related to investing, including crypto

Hristo

Contributor
User Power
Value/Post Ratio
195%
Jul 10, 2016
19
37
27
South Africa
Hey Fastlaners,

I'm a programmer and I was messing about with obscure languages and found out relatively easy to implement peoples forex strategies using mql4 if you already know how to program.

I was just messing about at the time, however being an entrepreneur i decided it's something I could pursue if theres a need. Now I need to find out if people are actually using these things.

I'm no forex investor. I know the basics and a bit but not enough to confidently make my own strategies.

So fastlaners, are robots worth looking into?
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Steve B

New Contributor
User Power
Value/Post Ratio
50%
Jul 8, 2016
4
2
50
UK
Depends on if you have a mechanical strategy that works. I defined a mechanical strategy back in 2014 which I had written in MQL 4 and ran it live for some months to test it out before engaging with a number of beta testers.

The results have been good, my live account is up by triple digit % and some of my beta testers are up around 40-50% as well, the problem we found is that if there are too many options in the EA (Expert Adviser) then people will fiddle and then mess with their equity curve, so we have just had a new version written taking out a lot of the functionality and making it stick to the original mechanics of the strategy.

So in answer to your question it is possible, if you are looking to make some money you could rent your coding skills out?
 

Hristo

Contributor
User Power
Value/Post Ratio
195%
Jul 10, 2016
19
37
27
South Africa
Depends on if you have a mechanical strategy that works. I defined a mechanical strategy back in 2014 which I had written in MQL 4 and ran it live for some months to test it out before engaging with a number of beta testers.

The results have been good, my live account is up by triple digit % and some of my beta testers are up around 40-50% as well, the problem we found is that if there are too many options in the EA (Expert Adviser) then people will fiddle and then mess with their equity curve, so we have just had a new version written taking out a lot of the functionality and making it stick to the original mechanics of the strategy.

So in answer to your question it is possible, if you are looking to make some money you could rent your coding skills out?

What are the going rates for these types of services? I feel that I could learn some great strategies by coding for more experienced people for a little bit then building something a little more fast lane.
 

Steve B

New Contributor
User Power
Value/Post Ratio
50%
Jul 8, 2016
4
2
50
UK
It really does depend on what your 'client' wants and they may not disclose all of their strategy to you, but just enough for you to do the coding.

Some of the freelance sites such as Upwork would give you an idea as to the rates you could charge, I have used a few developers from the MQL5.com site which have been much more competitively priced. I wanted to automate another mechanical strategy that I had and I think I paid the developer about $100 for the work, it was pretty basic and set the orders as per the rules of some other parameters / indicators that I was using.

If you really want to provide good development to building automated strategies you should invest some time in understanding how the markets work along with some technical analysis as this will give you a good foundation - have a look at the likes of babypips.com they have a training section which covers the basics and some more advanced stuff!

Good luck!
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

Latest Posts

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top