What automation can do
Run a mechanical strategy on many pairs around the clock without fatigue or fear, execute faster than a person can, and produce a complete record for testing. What it cannot do is notice that the market has changed, that a news event is unfolding, or that a broker's feed has frozen. Every automated strategy needs a human supervisor and a kill switch.
Where to build
| Platform | Language | Notes |
|---|---|---|
| MetaTrader 4 | MQL4 | Largest library; maintenance only |
| MetaTrader 5 | MQL5 | Faster tester; the platform MetaQuotes develops |
| cTrader | C# | Modern language; cTrader Automate |
| TradingView | Pine Script | Easy to write; execution at integrated brokers |
Buying a bot
Commercial expert advisors sold on curve-fitted backtests are a well-established way to lose money. If a bot's sales page shows an equity curve with no drawdown, it was optimised to the data shown. Demand out-of-sample results, forward test on a demo for months, and assume that anything cheap and public has already stopped working.
Practicalities
- Run automation on a VPS so it does not depend on your laptop being open.
- Check that the broker permits expert advisors and, at a prop firm, that your automation is allowed.
- Test with realistic spreads, slippage and commissions.
- Start with tiny size live; execution differs from the tester.
VPS hosting for automated trading
Trading forex, CFDs and other leveraged products carries a high risk of losing money. This guide is general education, not advice.