Why do you build your own trading system but not using retail trading software?

from looking at gloriabrown's other posts i see people pointing out that gloria brown is the old ET user j2ee, aka developeralgo on TL aka the communist troll everywhere.

adding gloriabrown back to my ignore list...
 
Quote from trademeisters:

from looking at gloriabrown's other posts i see people pointing out that gloria brown is the old ET user j2ee, aka developeralgo on TL aka the communist troll everywhere.

adding gloriabrown back to my ignore list...
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I am not whoever that is, period.
 
Quote from GloriaBrown:

Build own trading system disadvantage:
1. very time consuming
2. require programming language skill
3. Much more thinking involve for everything in building the system.
More...

If you have an idea which you think is very special then it may worth the time and effort, even to learn a computer language. Otherwise, I agree with you. Many traders use software that synthesizes trading systems from data and offers several options for minimizing data-mining bias. Examples are strategy quant, price action lab, and the more expensive trading system lab. But I think there is a shift back to discretionary trading in recent times because more traders understand that you cannot leave unattended trading systems to operate at times of uncertainty and high volatility. Remember the flash crash? Only one can wipe out an automated trading system account for good. The same concept used by software that synthesize trading systems can be used to assist traders in discretionary trading. The second of the programs I listed offers such options and several tools for testing reliability and robustness of trading signals.
 
I am struggling to get going with EATree.com's system builder for MT4. My WinRAR freebie for 40 days has expired so can anyone suggest a different freebie that will unzip .rar files ?
 
Quote from GloriaBrown:

I have these simple comparison and welcome to give any comment:

Build own trading system advantage:
1. you would know exactly everything and every step, no per-define stuff that always happens in retail trading system, so the chance to have some definition wrong to have wrong outcome would be minimum.
2. There are a lot things especially more complicated stuff that retail trading system just not designed to do that, so self made trading system gives the best flexibility and basically can make anything that in your mind really happens.
3. Even though build own trading system is time consuming, actually many times it is faster to build own system because there are so many ways to find out how to do something and there are always many ways to do something with programming language. For easy language, once it is more than simple kind, it is always very hard to find out how to do something and it takes so much time and sometimes finally it is just not even possible with easy language limitation. Easy language is not well defined sometimes and documentary normally is not enough. Q and A becomes the only way for easy language and it is very not effective for big project.
4. Even if your trading program cannot help you to make money, the programming skill that you developed may help you get a good programming job especially high income trading system programming job in places like NYC.

Build own trading system disadvantage:
1. very time consuming
2. require programming language skill
3. Much more thinking involve for everything in building the system.

Using retail system advantage:
1. very fast, just few lines can build a simple strategy
2. graphical stuff, indicators, prices become an unit with day high low close open, reports with all stats...all of these come with the package.
3. more user friendly, no matter the easy language or the whole looking in general.
4. Live trading with some common brokerage api is right there.

Retail system disadvantage:
1. once build anything more than simple strategy, may not be possible with that specific easy language, and very hard to find out how to do something or anything complicated with specific easy language.
2. cost
3. may not support anything not common like option, arbitrage, many special data involve that is much more than simple price and volume.
4. Many things are pre defined and there is no way to tell until you find out something wrong and not what you thought it is. There is no code to find out what's wrong and how the programs define many things.

All of these are just from my brainstorming, and I wait for your comment!
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Build or buy is a decision most engineers struggle with ... it used to be called the NIH syndrome (Not Invented Here).

The only reason to build, would be after trying to make work all buy options, and having an acute understanding of what it takes to build a better thing, than the ones available to buy - and having the means - skills time & $$$ - to do it.
 
Quote from GloriaBrown:

I have these simple comparison and welcome to give any comment:

Build own trading system advantage:
1. you would know exactly everything and every step, no per-define stuff that always happens in retail trading system, so the chance to have some definition wrong to have wrong outcome would be minimum.
2. There are a lot things especially more complicated stuff that retail trading system just not designed to do that, so self made trading system gives the best flexibility and basically can make anything that in your mind really happens.
3. Even though build own trading system is time consuming, actually many times it is faster to build own system because there are so many ways to find out how to do something and there are always many ways to do something with programming language. For easy language, once it is more than simple kind, it is always very hard to find out how to do something and it takes so much time and sometimes finally it is just not even possible with easy language limitation. Easy language is not well defined sometimes and documentary normally is not enough. Q and A becomes the only way for easy language and it is very not effective for big project.
4. Even if your trading program cannot help you to make money, the programming skill that you developed may help you get a good programming job especially high income trading system programming job in places like NYC.

Build own trading system disadvantage:
1. very time consuming
2. require programming language skill
3. Much more thinking involve for everything in building the system.

Using retail system advantage:
1. very fast, just few lines can build a simple strategy
2. graphical stuff, indicators, prices become an unit with day high low close open, reports with all stats...all of these come with the package.
3. more user friendly, no matter the easy language or the whole looking in general.
4. Live trading with some common brokerage api is right there.

Retail system disadvantage:
1. once build anything more than simple strategy, may not be possible with that specific easy language, and very hard to find out how to do something or anything complicated with specific easy language.
2. cost
3. may not support anything not common like option, arbitrage, many special data involve that is much more than simple price and volume.
4. Many things are pre defined and there is no way to tell until you find out something wrong and not what you thought it is. There is no code to find out what's wrong and how the programs define many things.

All of these are just from my brainstorming, and I wait for your comment!
More...

Going by your logic..Why not start with defining your own new programming Logic.
one of the first principles of software Engg..Don't reinvent the Wheel.
There are many trading softwares where you can pretty much do everything you want to. So why reinvent the wheel :)
We are on Earth for limited time only. Please use it wisely
 
Quote from ehsmama:

Going by your logic..Why not start with defining your own new programming Logic.
one of the first principles of software Engg..Don't reinvent the Wheel.
There are many trading softwares where you can pretty much do everything you want to. So why reinvent the wheel :)
We are on Earth for limited time only. Please use it wisely
More...

Can you recommend a good system builder for MT4 ?
 
Quote from ehsmama:

Going by your logic..Why not start with defining your own new programming Logic.
one of the first principles of software Engg..Don't reinvent the Wheel.
There are many trading softwares where you can pretty much do everything you want to. So why reinvent the wheel :)
We are on Earth for limited time only. Please use it wisely
More...

I have already explained when you cannot do/have very difficult time to find out how to do with existing retail program, then it is not reinvent the wheel. There is crazy many limitation of retail trading system too, so this is not reinvent the wheel at all because the wheel existing is a very limited only work for simple common strategy wheel. The existing wheel doesn't work at all once it is beyond the common knowledge level.
 
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