- 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.
Griddy Wotsit arose from our experiments with hedging strategies for HGB'nG. He is a bit of fun and is really entertaining to watch. Whether he ever gets withing hailing distance of a live account will depend on how lethal the bad runs are, or if he can be used safely on the higher time frames.
GW is HGB'nG without waiting for a trade signal from HGI. He sends an immediate basket of buy/sell stop orders, then manages them just as does HGB'nG. I have attached "3 level" again, but it is the same as we are using with HGB'nG.
It is insanity to run more than one instance of GW per account because he can generate a lot of trades. I had him in EU M15 last week and today. When a market takes off, GW is insanely good. Today's trading: Nope. Your eyes are not deceiving you. That is 2577 pips on EU M15 today.
GW's enemy is one of Bob's "leaky toilet" markets that 10.x dealt with using Recovery. The difference here is that there is no pulling up of the drawbridge as there is with Recovery. Using a 4 level Recovery, if L5 is reached then the original L1 is closed and we start again. If L2 is reached, then the first L2 trade is closed. There are never more than 4 Recovery trades open.
Compare that with this little lot: Here is what happened:
- GW sent an initial grid. Two or three of the sells filled, then the market rose, triggering the buys.
- A whole bunch of buys would fill, then close following a high semafor.
- GW would replace the grid. Two or three of the sells would fill, then the market would rise again. Lots of buys filling and closing at the next semafor high signal.
- Rinse and repeat, over and over again.
In the event, the market fell sufficiently to avoid a margin call and the sells closed following a low semafor signal, taking about 20% of the account with it.
GW does best with volatility and strong market movements, so I started testing him on GJ H1 today, using H4 ATR to calculate the distance between trades. Not as much fun as M15, but looking safer. We shall see.
GW also does ok in a ranging market. This is probably ideal, as the buys will close at the top of the range and the sells at the bottom.
The killer is the leaky toilet. GW will have something to offer us if we can find a way of avoiding them, or dealing with them.
Play with him folks. Let's see if this puppy has a decent tail to wag.
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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