- Most Forex traders lose all their money.
- Using the robot posted here in trading Forex does not guarantee success.
- Trading this robot could lead to serious financial loss.
- Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
- This is not a set-and-forget ea; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention.
- At best, a trading robot is only 90% as good as the manual strategy it trades. At best. At worst, it can be much less effective. If the strategy is rubbish, so is the robot.
- To trade this robot, you have to understand:
- How to use EA's.
- Super Slope from http://www.stevehopwoodforex.com/phpBB3 ... 101&t=4888
/viewtopic.php?p=142851#p142851 - Peaky.
- My peak hilo indi.
You need the "SPB core library.mqh" file in your platform's Include folder. Download it from viewtopic.php?p=159559#p159559
Have a look at this folks: That is an increase in the balance of $2,803 since I started the demo on 29th July; note the equity at the time I took the snapshot. A lot of the losers came whilst I was working out the best ratio of stop loss to take profit.
I was musing on the possibility of taking a trade when the trading volume at the close of the previous candle was higher than the close two candles ago. I dragged a Volumes indi onto a chart (Navigator/Volume/Volumes) and saw that yes, a spike in tick volume is usually followed by increased movement on the chart.
Green Volume bars show that there was more activity during the previous candle than on the candle two bars ago. Red means less activity. That is all the indi tells us; it does not tell us whether the activity was buying, selling or both. I added a candle direction filter. Here is the trade setup and trigger:
- The setup:
- D1 SS and H4 Peaky are in agreement. You can use the lower time frames SS as well. Here I am describing what I have been doing.
- The trigger:
- There is a green Volumes bar.
- The previous candle had to close in the right direction i.e.
- SS and Peaky agree long: the candle must have been a rising bar.
- SS and Peaky agree short: the candle must have been a falling bar.
I have been trading an I-am-right-or-I-am-out method. No gridding, basketing, hedging, recovery etc. I have been able to trade high lots (for me):
- $20,000 starting balance.
- 1 lot trade sizes - this bot is not a trading tart and I do not recall having more than three trades open.
I have some reservations about all this:
- It is early days and the success may be down to blind luck.
- I am not sure I would trade such a high trade size were this a live cash account. A black swan event could be devastating.
- I am not sure how much we can trust the Volumes indicator. All it does is present a histogram of the volume of ticks on each bar. I do not know how accurate that is or where the indi gets its data. I have long believed that the only info a candle holds is its OHLC and open time; maybe I am wrong about that but I do not actually know.
Have fun.
Matters of general interest
Go here to download and run the script that will fill your platform's missing chart history: http://www.stevehopwoodforex.com/phpBB3 ... f=15&t=254
Read this post:
http://www.stevehopwoodforex.com/phpBB3 ... p?f=6&t=78 Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration.
Masterly summary of hedging: http://www.forexfactory.com/showthread. ... ost4977179
EA coding
I receive may requests to code EA's. Traders, if I code your EA for free, then I will share it here. If you want me to code your EA without sharing, then my fee is $100 payable into my paypal account. I explain why at http://www.stevehopwoodforex.com/phpBB3 ... ?f=15&t=79, at the bottom of the post.
Useful utilities/EA's/scripts
- Multi purpose trade manager: http://www.stevehopwoodforex.com/phpBB3 ... ?f=21&t=64
- Account equity analyser: http://www.forexfactory.com/showthread. ... ost4709098, which includes a template for both USD and the Euro.
- Past-trades display indi by squalou; shows a graphical display of the success/failure of trades in your History tab. Breathtaking piece of work. http://www.forexfactory.com/showthread. ... ost3830610
- My shell EA – the code I use to produce EA's so quickly. http://www.stevehopwoodforex.com/phpBB3 ... ?f=15&t=79
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