1) The choice of simulation chart period. The commonly used charting period is 1 minute chart (M1), 5 minutes chart (M5), 15 minutes chart (M15), 1 hour chart (H1), 4 hour chart (H4) and 1 day chart (D1). From my experiences, simulating with M1 period result will produce accurate results from your EA. Any chart time frame greater then 1M, will result in frame stepping by the simulator. The simulator will step thru the time frame and aggregate the closet to your number, which can cause false breakout and unrealistic result.
2) Use fully downloaded M1 result from a data server. Many broker nowadays support client to backwards download data from now to 2002 (at least last 10 years of data). Once full M1 data downloaded, you can use period converter to convert to M5, M15, H1, H4 and D1 database. This will complete the database that is used by simulator when called to run back testing for your EA.
3) Most EA are ready to be used for live and demo trading. However, if you are modifying a EA that is meant for live trading, you need to include below 3lines of code to let it run in back testing mode by the simulator.
line1: static datetime nextRund
line2: if( nextRund > TimeCurrent() ) return(0);
line3: nextRund = TimeCurrent() + 30;
The above codes with delay your program by 30 seconds before it proceed to executed the next program. You cannot use while loop or jump program as it is non static and will stop the moment the program executed the last line of code. The above actually set a static variable and this variable is match with the time in the PC. As this variable is static, it will stay in memory when your program exist and execute again. The 30 is default in terms of seconds. This may be difficult at first, but after some trial and error, you will get use to it and use different time seconds to your advantage.
4) Delay is non static but it can be use to temporarily stop the program while running other function. This is extremely using if you are running multiple EA and executing on a single data server. By setting different delays, your program will execute at different time thus not congesting the order send to your server. This act as multitasking your order and does average your CPU utilisation over time.
The above are some factor to consider. Thank you
An accessible guide to trading the fast-moving foreign exchange market
The foreign exchange market, or forex, was once dominated by global banks, hedge funds, and multinational corporations, but that has all changed with Internet technology and the advent of online forex brokers. Now, hundreds of thousands of traders and investors around the world can participate in this profitable field.
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This currency trading book provides readers with real, practical information on how to trade the foreign exchange market effectively. It begins by covering introductory information on the forex market, including basic trading mechanics and the benefits of forex trading, and then goes on to describe specific currency trading methods and skills in step-by-step detail. This includes highly practical information on technical and fundamental analysis, risk and money management, and powerful forex trading strategies. These strategies have proven extremely effective in helping traders play the forex game to win.
JAMES CHEN, CTA, CMT (Montville, NJ) is Chief Technical Strategist at FX Solutions, a leading foreign exchange broker. An expert on forex trading and technical analysis, he is also a registered Commodity Trading Advisor (CTA) and a Chartered Market Technician (CMT). Mr. Chen writes daily currency analysis, leads forex trading seminars, and has authored numerous articles on currency trading strategy and technical analysis for major financial publications. These include Forbes.com, Futures Magazine, Technical Analysis of Stocks and Commodities Magazine, and Stocks, Futures and Options (SFO) Magazine.
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Currency trading techniques you can bank on!
Forex trading can be remarkably lucrative—and complex, confusing, and risky. Too many investors dive right into Forex, suffering big losses. If you want to trade currencies successfully, read this book, take your time, and plan accordingly. The $4 trillion Forex market will be waiting.
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