Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

How to order writing an advisor |

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There are dozens of trading advisors freely available, but 99% of them are no longer profitable. Trading systems have a life period after which they become unprofitable. If in the beginning the new trading advisor could still generate income, then as soon as everyone started using it, it lost its effectiveness. Some brokers (AMarkets) offer free programs, but their performance depends on the professional setting. Some brokers offer robots on a paid basis (FreshForex), but do you agree to pay 100-400 USD? USA for a “pig in a poke”?

  • Advice: develop your own trading system based on technical indicators, test it on a demo account, make an assessment. Does the system work? Order using it to write an advisor!

Writing an advisor: how to correctly set a task for a programmer

MT4 is the most popular terminal for algorithmic trading, the advisor language is MQL. Therefore, the most reliable option is to order the writing of an Expert Advisor on the developer’s official website, the MQL5 freelance exchange.

Procedure:

  1. We register on the site.
  2. In the upper right menu, click “New Job”, fill out the order form:
  • briefly describe the task (writing an advisor, script, indicator, correction of the finished robot code);
  • specify the platform version;
  • we set the approximate cost of work and terms. The price can be adjusted at the time of order approval. Please note that in 10% of cases the deadlines are not met;
  • we describe the essence of the task.

Requirements for setting TK:

  • the customer is obliged to understand the basic points of the statement of work. The performer only writes the code, the customer specifies the specifics of what he wants to see;
  • TK should not have objectives that can be perceived in two ways. The interpretation of the task must be the same on the part of the customer and the contractor;
  • the TK specifies the tools of technical analysis, conditions for placing orders, principles for calculating the lot. The contractor is not interested in how the strategy works, he wants to see a specific task.
  1. For potential contractors we analyze such data as “Disputes with the customer”, “Number of overdue orders”, “Total work”, “Number of works taken into execution”.
  2. After the person who will execute the order has been selected, an electronic confirmation of the agreement takes place in the personal account. The customer pays for the work, the money is reserved on the service website. All stages of order fulfillment (discussion of the prototype, the need for revision, etc.) are recorded in the Journal. If the customer is dissatisfied with the work of the contractor, the dispute is sent to the arbitration of the service.
  3. If the work is accepted, the service charges a commission of 10%. If the contractor provided the results of the work, but the customer did not respond within 3 days, the payment to the contractor is transferred automatically.

Summary. Free advisors are in most cases unprofitable, paid advisors are a risk. There is nothing more reliable than your own trading system, tested on a demo or cent account. Writing an Expert Advisor is the most optimal and economically viable option, which is a 100% guarantee of the trading system’s performance.

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