Automated Trading Masterclass: How to Create a Trading Bot In 15 Minutes with No Prior Experience

By MoneyTree Solutions

If you want to create automated trades and generate a passive stream of income then keep reading

You have started trading, and you would love to be able to generate a passive stream of income!

You have made a few successful trades and have analyzed the charts and even made a little bit of money. But now you're stuck.

Because you need to trade actively when the (forex, commodities, indices, or crypto) markets are live, but you also have to work your full-time job. You can trade during the evening hours, but you also want to spend time with your family and friends or do the things you love. Automated trading is the solution to this problem. But you believe creating a trading robot is hard, and you need to be able to code. In reality, it is not hard. Everyone can create a trading bot without any prior experience with coding!


In an automated trading masterclass you'll discover:

• How to create your first automatic trade with MQL4 or Tradingview in less than 15 minutes, without any coding! With simple step-by-step instructions. It works on Forex, indices, commodities, and crypto markets.
• How to transfer a Tradingview strategy to a MQL4 trading bot without writing any code.
• How to create custom Tradingview alerts, that will contribute to your success as a trader
• How to create a profitable trading strategy
• Some great trading strategies that will start your automated trading story
• A robust checklist to evaluate your trading strategies performance to ensure you make money
• A complete guided example to improve a trading strategy and make it more profitable
• How to create automated trades based on your trading strategy. So that you can spend your time doing the things you love and generate a passive stream of income
• And you will receive many example strategies to build upon. Featuring mean reversion strategies and trend following strategies.

This is NOT a theoretical presentation. You will discover practical insights and strategies with step-by-step instructions and well-explained examples in an easy-to-understand way.

 

And much more….
As a free bonus, you'll get an "Appendix" chapter in which the strategies are made available for you to use.

So if you want to create a passive stream of income and want to automate your trading strategies, then scroll up and click the "Buy now with 1-Click button" to get your book instantly.

 

• Language: English
• Publisher: MoneyTree Solutions
• Release date: Jul 23, 2021
• ISBN: 9798201677596

Book preview

Part 1: Getting started

Chapter 1:  A trading robot

The ultimate goal is to create a profitable trading robot. But what is a trading robot exactly, how does it work and why would you want to create one?

An algorithmic trading robot is essentially a piece of computer code that can create and carry out buy and sell orders in financial markets. The trading strategy is the key element of a trading robot. The trading strategy specifies the entry rules that indicate when to buy or sell. The exit rules specify when to end the open position. Moreover, most trading bots have rules that specify the position size to purchase or sell for.

Advantages of a trading robot

They can trade 24 hours a day.

They are not swayed by human emotions, allowing them to function more quickly and effectively.

They can work more quickly and efficiently.

They are capable of executing more intricate and sophisticated trading methods.

They facilitate and accelerate backtesting.

Disadvantages of a trading robot

You must have a robust and consistent internet connection. However, if you use a virtual private server (VPS) this is not an issue.

They are incapable of human cognition or imagination.

They are not adept at reading and analyzing fundamental data.

It is hard to program a trading robot yourself. With the help of the Trading Bot Generator, however, you can create one in seconds.

There is a possibility of data-mining bias.

Advantages of a trading robot

They can trade 24 hours a day

Human traders are frequently limited to trading at specific times of the day and will have other responsibilities such as family, job, and leisure hobbies. Even the most devoted forex traders will require pauses to eat, drink, sleep, and get away from their computer screens. A trading robot can operate constantly without interruptions. This means they will always be observing and acting on the market, ensuring you never miss an opportunity.

They are not swayed by human emotions

Trading robots follow a set of pre-established rules that they will always follow. When people exchange money, it can be challenging for them to get past feelings like fear and greed as well as their biases and presumptions. This may cause people to pause, forgo making trades, force them to make bad deals, or force them to maintain their position for an excessive amount of time.

In the heat of the moment, traders may find it challenging to think critically and objectively, even when they have a solid strategy in place. An automated method eliminates the danger that trading can include due to human emotions.

They can work more quickly and efficiently

In a matter of seconds, a trading robot can scan the markets, identify opportunities based on pre-set criteria, and execute trades following its rules. A human trader performing this manually would probably take much longer ansd run the risk of missing out on possibilities or squandering time making judgments or placing orders.

They are capable of executing more intricate and sophisticated trading methods

Using an automated system enables traders to have many conditions for things like entries and exits, stop-loss orders, and profit objectives, all functioning at once because robots are far better at multitasking than humans. Additionally, many currency pairings can be watched simultaneously by trading robots.

They facilitate and accelerate backtesting

Backtesting is the act of analyzing historical data to evaluate potential trading strategies and then using that information to optimize a strategy that has been selected. It is complicated and time-consuming to do manually. Trading robots, on the other hand, can download, store, and analyze substantial volumes of historical data, enabling traders to assess the performance of a trading strategy in great detail.

Disadvantages of a trading robot

You must have a robust and consistent internet connection

A strong computer with a dependable internet connection is required to run trading robots. Any lags or issues could result in hiccups or force the robot to make bad trades. They could potentially be compromised by viruses and hackers, just like any other piece of computer software. However, if you use a VPS you have a cloud-based pc. This cloud-based pc has none of the mentioned issues. Most VPS services offer an uptime of 99,9%. Meaning they always work.

They are incapable of human cognition or imagination

To foresee how markets may develop shortly, successful forex traders use a variety of abilities and knowledge, including research, analytical thinking, observation, and a certain amount of imagination and creativity. Trading robots may not be as effective as human traders because they can only trade according to their original programming and prior performance.

They are not adept at reading and analyzing fundamental data

Technical analysis, which involves interpreting previous market data and price charts to forecast potential future outcomes, is a skill that trading robots excel at. But when it comes to fundamental analysis, they are not very useful.

Fundamental analysis is a technique for determining an asset's worth by taking into account external factors and influences, such as societal, political, and economic developments, as well as market patterns.

While a person can keep up with current events and how they affect the markets, a robot's ability to trade profitably could be greatly hampered by a sudden market reversal brought on by an extraordinary incident.

It is hard to program a trading robot yourself. With the help of this book however, you can create one in minutes

If you want to build one from scratch without any programming experience creating a trading bot is hard. Most trading bots take 3-6 months to create. If however, you are a skilled programmer creating one might take you a month. Solutions to your problems on StackOverflow however are hard to come by. And this will certainly delay your trading bot development. Creating a trading bot yourself is not easy, which is why very few people have one. A lot of people offer their services to help build a trading bot, but it is expensive. Metatrader even has a market place, where people can take on jobs to create a strategy for someone else MQL jobs. It was frustrating that I could only help a few, which is why we created the Trading Bot generator. With the help of the Trading Bot Generator, you can generate the code for a trading robot in seconds. You specify the trading strategy and we generate the code for you. Try the demo and create your first trading bot or subscribe to create trading bots with over 20 indicators. As you will discover in chapter 5 it is possible to create an automated trade in less than 15 minutes. Can’t wait? Try it out at https://www.tradingbotgenerator.com/

There is a possibility of data-mining bias

Data-mining bias occurs when an analyst repeatedly explores sample data until a pattern is detected. A market occurrence that may have been the product of chance or an unexpected set of circumstances may then be assigned undue significance as a result of data mining. But if you perform a good backtest this is not an issue. You will discover how to perform a good backtest in Part 3: Strategy evaluation and improvement.

Conclusion

A trading robot is a great tool to help you become a profitable trader. It will enable you to spend more time doing things you love to do. While the trading robot builds your passive income stream. Although creating a profitable strategy is a challenge, there is a lot of literature on this topic. The great advantage of literature regarding automated strategies is that you can easily test the performance of these strategies. Opposed to trying to trade a trading guru’s strategy by hand and letting emotions cloud your judgments and impact your performance.

I get a lot of new strategy ideas by reading scientific papers regarding automated trading. In these papers, some of the smartest people in the world have shared their automated strategies performance and trading rules in detail. You just have to pick one that is promising and, with some slight alterations, you will have a strategy in no time.

Although some of the strategies I will share are pretty good, it is not guaranteed that the strategies are profitable. With some slight alterations, you might be able to make them profitable, but I do have to