Thursday, July 30, 2009

EAs are not universal anymore

It used to be when you write a metatrader EA, it can be used across all brokers who has this platform, and the only thing to take care of is the server time as each broker has different GMT settings and that is provided the trading strategy is time dependent.

Today it is fragmented, in just a matter of months. The first is fractional pips, some brokers have switched to offer this, others remain. But this is easily solved. Next are those US brokers who are NFA registered. In this category, there are different implementations. One broker said everything remain the same, just make sure your lot sizes are not the same so that some backend system will handle the no stoploss, no takeprofit, no trailing stops that NFA has forbidden. Of course all NFA brokers cannot offer hedging now. Then on the other side where brokers are not US based, there are those who offer direct ECN connectivity. That means, you cannot send orders with TP and SL. These two parameters must be zero. But at the next tick, you can send in a modify order command.

Gone are the days where we can have more universal settings and code. So even with one platform, there are so many permutations of implementation that is getting tedious to write a universal EA.

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