As a trader, you have probably come to an idea to create an automated trading system, but you did not achieve that goal because you did not how to do it. Well, to create an expert advisor you have the following options available; since a forex robot is a program and it has to be coded, you can either code it by yourself or you can rent a programmer to code it for you. Alternatively, you can use one of the EA building tools.
Renting an experienced programmer is the fastest but also the more expensive way to create the robot. EA programmers typically charge hours of their work and the price may vary depending on their experience. The total cost will depend on the complexity of the expert. Then, if you will want to update something in your strategy the cost will also rise. Sometimes you may discover a bug a few weeks after your robot was delivered and your developer is not available anymore to correct it. Moreover, your strategy will not be secret anymore because you will have to share it with the programmer first, so he will be able to implement it in the robot.
EA builders are software applications that will allow you to create EAs without programming. Though you will have to learn how to use it, the learning time is significantly shorter than it is required to learn programming language. Depending on the product they are still limited compared to standard programming. Many features that can be programmed will not be available in the tool. Sometimes you will have to improve generated code by additional programming. A good thing is that EA builders are equipped with very powerful testing tools that are much better than the one that is offered in your trading platform.
You have to be aware that every trading platform is using a different programming language for creating the EAs. MetaTrader 4, the most used platform, is using its proprietary programming language MQL4 whose syntax is similar to programming language C. So, if you have used it before or if you have any programming experience learning MQL4 will not be a big deal for you. On the other hand, is you have not programmed before do not give up. Learning MQL4 is not as difficult as it might seem. You will find many good online resources (books with examples, videos, a step to step guides). A good place to start is an official MetaTrader course at book.mql4.com.
It is important to know that becoming a skillful programmer takes time but believe me even if you are programming newbie you can reach that level in just a few months. It will not only allow you to create your own EA but also it will give many other useful options. You can test your trading system faster and more precisely. Also, you will be able to update your system more quickly. You will not be limited just to the tool features as it is with the EA builders. Moreover, you will be sure that your trading ideas are kept for yourself.
Programming skills will certainly open you a new dimension in your trading. Except, trading robots you will be able to create custom indicators and utility tools will match your trading style and your needs. It will allow you to create alerting tools, market screening tools, custom trailing stops, and other trade utility tools.
From a financial perspective, it will save you the money because you will not have to rent an external programmer or purchase an EA building tool. Moreover, as an EA programmer, you can earn extra money by offering your programming services at freelance sites like upwork.com. Moreover, you will be able to commercialize your trading system.
So, you can create an expert advisor, if you program it by yourself or by an external programmer or using the EA building tool. Learning to program is not as difficult as it seems. It is very beneficial and it will allow you not only to automate your trading but also to improve your testing process. You will be able to create custom indicators and other trading utility tools. Also, it will allow you to earn extra money by offering your programming skills or by commercializing your robot.
