My boss has a jewelry workshop and because of his job he must keep a large money in his account (as some kind of insurance and guarranty for other companies). Recently he heard of trading using softwares and decided to do something with that money. He asked me (as the programmer) to write an Expert Advisor in Metatrader software that buy and sell gold automatically on Forex exchange market to make some profit.
First of all, I don't know where to start. I read Metatrader API and write some codes which buys and sells on a Demo acoount. But I guess programming knowledge is not enough. Should I read some financial books? How about some statistical knowledge?
Second, it is clear that there is no promised and perfect strategy for making profit (even small) in the exchange market, because the profit of one guy comes from loss of another guys. No matter what strategy you use, some day you will be bad luck guy.
I seems there is a trade-off between taking the risk and making profit/loss in the exchange market. I hope I would find some strategy that makes a small profit with low risk.
Just like putting money in the bank that gives you small profit with no-risk, there should be a stategy in the exchange market which gives you a little more profit with a low level of risk.
Do you know any low-risk small-profit strategy for trading in Forex?