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So for our first lecture we want to talk about what an expert advisor is.
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So you've probably heard this term before.
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If you've been trading Forex at all and what an expert adviser or an EE for short is is just a trading
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robots.
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OK.
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So just a program that trades forex FOR YOU.
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NOW WHY DO WE CALL IT expert advisor why don't we call it trading robot or algorithm or whatever.
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Well because in forex everybody uses the trading platform.
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Met a trader for and the trading robots that run on met a trader four are called expert advisors.
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Now since almost everybody uses the metal trader for trading platform everybody calls trading robots
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in forex ese.
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OK.
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So it's just it became a synonym synonym for a Trading Robot.
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People just say hey I build this new e or did you see this.
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He instead of just seeing a trading robot.
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OK so that's what an expert adviser is.
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Now if you're not familiar with the minute trader for trading platform what I would suggest for you
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to do is pause this course right now and goods on my previous course foundation forex trading course.
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Why.
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Because that's the course where I teach you the basics of trading.
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So you know the minute trader for platform how to use it you know all the trading stuff you know the
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bids the asks the position sizing all of that stuff is in that course.
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This course is about the you know programming of a trading robot.
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So I'm not going to Google you know over the same basic concepts of trading that you should know already
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before attempting to learn to program for trading.
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Right.
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So you know make sure that you've done that course before doing this one unless you already know how
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to trade and you already know about forex trading then you can just go ahead with this course.
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But that being said and it is just going to be a program that runs on meditator for and it's used to
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monitor and trade financial markets using algorithms they find opportunities according to the power
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meters you sets then either notify you or open a position automatically.
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So for us we're going to be building a software that you know enters automatically into positions based
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on the criteria as we said.
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So if I log into my met a trader here met a trader for and this is why he is really fun here.
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It's because you're going to see that there is a very big community of people that work on them.
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And let me just remove something here quick.
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OK.
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So when you look at the bottom of your met a trader you have your trade you have exposure all of this
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stuff.
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Well if you look here there's something called the markets.
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And when you click on market it takes a while here to load.
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But look at what it's going to tell you it's going to show you some ease that you can buy.
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Look at this top experts.
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So there's a bunch of expert advisers that you can just buy that other people programmed like look at
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this one this one costs eight thousand two hundred dollars U.S. dollars.
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Crazy.
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And if you click on it you can see that 10 people already bought this one.
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So that's about the guy who made this court made eighty two thousand dollars by just selling this algorithm
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does it work.
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Does it not work.
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I'm not too sure.
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Right.
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If you actually want to see all of them you know all of these E's that are available to purchase.
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You can just go on the up quotes language for Web sites here.
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Of course language for.
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And you can google on markets and you will see all of these e-mails.
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You know some of them are cheaper 299 four hundred ninety four hundred and not cheap visual a lot size
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calculator.
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That's funny because we're actually going to do that in this course we're going to create a lot sized
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calculator.
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So here we go we have it already.
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But you can click on any of them and see how many they sold.
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This one only five and what it does is they'll have some videos showing you how it works or you know
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what's the idea behind it.
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Some of them will show you some results which I wouldn't really trust too much.
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Now should you guys buy one of these E's should you just go there and buy one.
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Or should you build your own.
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And yeah they have our views as well.
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So you can see now.
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You should definitely definitely not buy one.
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Right.
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You should definitely not buy one.
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Why.
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Because if everybody has the same e then it's not going to work.
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You have to imagine something right when you're creating a trading robot.
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You're looking for opportunities and an opportunity to enter and an opportunity to exit at good prices
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because you know the price should be something else maybe.
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Now if everybody has the same e as you those opportunities won't exist anymore for huge profit from
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for example imagine you know that apples should be selling at five dollars and you find the grocery
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store that sells them at four dollars.
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Well what you do is you go to that grocery store you buy them at four dollars then you go to the other
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grocery store and you sell them at five dollars.
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You make money.
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Now imagine everybody knows that well everybody's going to be buying from the grocery store at four
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dollars and they're going to be pushing the price higher.
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It'll be for 10 or 20.
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And everybody's going to go and sell it at the other grocery stores where they're at five dollars and
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then because of that the price at the other Russia is going to start dropping from five to 490 for 80.
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And at one point the prices will match each other and the opportunity is going to disappear.
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OK.
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So and this is you know when I've worked at you know some prop prep firms that were quite big when we
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developed the new strategy and we found that it was working we had to make a decision on how much capital
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do we trade on that strategy because we didn't want to impact the price negatively for ourselves because
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if we go in we buy for an extremely big amount of money then we're pushing the price up when we're buying
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and when we're selling we're pushing the price down when we're selling.
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So we're getting worst prices each time we're buying and selling and negatively affecting the price
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for ourselves.
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So we would have to see what how much money can we scale a strategy to that you know will make us make
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the most amount of money for ourselves.
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But well without affecting the prices too much rates.
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So want to you know treat it with as big of as high as possible to profit as much as we can but not
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with the size so big that we negatively impact the prices for ourselves and then make less money.
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So this is one of the reasons why when you have a successful strategy you're not just sharing it and
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giving the exact strategy you know to everybody.
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And this is also one of the reasons because in this course we're very realistic we're not sugarcoating
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stuff.
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I see a lot of courses where people you know tell you I'm teaching you how to code a strategy and I'm
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giving you a free strategy that's going to generate a 100 percent return.
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It's not true because if it if somebody gives out a strategy that's generating good amounts of money
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and everybody everybody's using it the strategy dies out.
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And it doesn't generate any money at the ends.
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So regardless of whatever strategy I put out if I have a thousand students doing that running that exam
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strategy it's not going to work anymore.
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So even with the codes that we're learning here and you know I'm teaching you how to fish and not giving
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you a fish.
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That's the idea here with the code that we're doing and the strategy you're going to have to tweak it
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a bit and make it your own.
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So you have it in a in a kind of unique way but I'm teaching you how to code the strategy how tested
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to see how much money it can make before even running it and everything so you can google and you know
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build something from scratch by yourself.
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So you know that's just reality because if it was as easy as just buying one of these bots and just
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making crazy amounts of money then everybody would do it.
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And you know I've worked at five different prop firms.
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They hired me.
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They paid me money.
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They paid a lot of other people money programmers to build things for them if they could have just bought
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something like this for 10000 U.S. and not had to hire and work and do all of these other stuff.
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They would have just done that.
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They would just fire all their traders and just bought some bots from online.
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So you know it's not reality that you can buy a book and from online that other people have and it's
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just going to work.
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You have to build your own if you can you buy once you get ideas or you know to learn from.
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But you're going to have to tweak it and make it your own.
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OK.
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Now the great thing about building bots is you can actually charge to build bots for other people.
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So if you go let's say on one of these Web sites where you can hire people like let's say a fiver fiery
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dot com right where you can just hire people to do stuff for you if I click here.
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Experts advisor
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and I see here there's a lot of people who are going to be charging to build you expert advisors.
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Look at this guy.
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I will create expert advisor e.
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This guy.
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Some people have very low prices I don't know why they have that low.
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So let's click on this guy here his price is the basic is thirty four dollars.
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Basic modification of your indicator or expert advisor.
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OK.
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Standard is order custom indicator or scripts.
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Ok ok here we go.
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So if you want to build a expert advisor automates your trading strategy with an expert advisor built
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according to your requirements.
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He charges you one hundred and thirty seven dollars and builds it for you.
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He already made a hundred different orders and has a four point eight rating.
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So a lot of people 100 people but an expert advisor offer him and you know some people are going to
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charge way more you know there's people.
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This one is starting at eight.
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So the premium four hundred dollars.
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This guy is charging 400 bucks to build you an expert advisor.
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And he has one hundred and forty five people who ordered and he has a five star rating.
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And you'll see at the end of this course that once you learn how to build an expert advisor and you
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create a lot of functions that you can reuse building an expert advisor for me takes less than an hour.
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You know if you tell me I want an expert advisor that does this and this and this and this and a bunch
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of very curious in less than an hour I can get it ready for you.
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So a great thing is that you can actually you know builds your expert advisers and charge people to
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build them.
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So that's another amazing things.
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I'm not telling you to go buyer one but if you want to be one of the guys who sells I guess his services
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to create an expert advisor for somebody.
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I'm not saying to sell one I guess on on here as an expert advisor but I mean on favor or if you want
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to be a programmer and build ease after this course you will be able to do that.
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OK.
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So that's a very nice thing here soul.
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That being said that's what what an expert advisor is and what you're gonna be learning in this course
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is to be able to build your own from scratch regardless of what the strategy is.
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So that being said let's jump into this course.
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