I have been trying to program my strategy to work alone, in form of EA with Metatrader 4. But although I'm not proficency with MQL4, I already see the bottelnecks of this platform and this programming language. I wonder if it would be a good idea to learn to code python or C++, run my own robot in my own 'platform' on a Raspberry Pi. I could use some APIs and tools some brokers offer, like Oanda (the one I am currently using).
My questions are: - Is it worth the effort? - Which language should I choose?
Thank you very much in advance. Please, feel free to share your opinions and experiences.
I went Java, but I'd say as a rule of thumb if a broker offers a Java API you'll find C++ and FIX API's as well. Your better brokers will always have API's and I'd go as far as to say if you really are going to do this professionally then you have to use enterprise grade code. Can't do that in MT as you're in someone else's framework.
MT is ok to get you going, but once you've cut your teeth it's time to move onto something a bit faster and more professional.
Also, I don't know why you'd bother with something like Raspberry Pi, you can simply leave your compiled code in the cloud, it will always be on, no bad connections or any of the shit that comes with having a physical box somewhere.
I would like to learn and use something 'scalable'. Right now I don't have much money to fund an account. That's why I'm thinking about Raspberry Pi and not a VPS. But I would like to invest my time learning something that I can use in the longterm and not something that will be 'useless' in some months.
I tried MQL4, but I would like to work with tick information and not with time candles. I am not doing HFT right now, but I don't discard that idea, hence I am looking for something fast.
It's Oanda, it's the REST API with a language and operating system of your choice.
You'll need a development machine, I know nothing about the Raspberry, but you'll need something that can handle the compiler of your choice.
Maybe you don't even need that, I don't really know what the cloud can do but I'd imagine you could get a Linux environment to work from for next to nothing in the cloud.
And if I can give you any advice. Fx is not for the poor. It will ruin your life. You need resources to do this. The rags to riches story is a myth. The brokers publish their figures. It's 30% per annum and it's not the same 30% every annum, rest is a bell curve, so maybe 10% will make it and of those 10% about 1% will really make it. So maybe out of every 100 000 people trying this maybe 1000 are ok. And I guarantee you they can afford computers and VPS's.
I've been paying for PS's for 14 years at anything from $100 a month to $200. Do the math. Think long and hard. This is not easy quick money.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.