- 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 tells you there is, is either a liar or an idiot. This EA will need manual intervention when NoOfTrades buys and sells are open, and the only recourse from there is to manage the basket manually.
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.
- Cci indicator.
- Moving Averages
- - How to use EA's.
Ehup all
Introduction
miruvacapital contacted me last week with details of a strategy he has been successfully trading live on EU. It involves trading with the trend, counter-trend and range trading. He has been scalping for 10 pips profit.
miruvacapital uses Cci that you will find in your indicator's folder:
- - go short if Cci(14) at the close of the previous candle was > 250 and falls back under this level.
- go long if Cci(14) was below -250 at the close of the previous candle, then rises back above
- 1) the trade is in the direction of the overall trend.
2) counter-trend trading expecting a retrace from the extreme, or the market is ranging.
- 30 > 60 > 90 trend is up
30 < 60 < 90 trend is down
mixed, the market is ranging
The inputs are:
Code: Select all
extern string ls="----Lots and stops----";
extern string tre="Trend";
extern double TrendLots=0.1;
extern int TrendTakeProfit=80;
extern int TrendStopLoss=100;
extern string ctr="Counter-Trend/Range";
extern double CtrLots=0.05;
extern int CtrTakeProfit=40;
extern int CtrStopLoss=100;
Recovery
miru is finding Recovery invaluable in dealing with DD. For anyone unfamiliar with this, find a copy of my shell user guide and read about it.
Other stuff
All the usual stuff is available - Hanover, CBI etc; they form no part of this strategy for now, but who knows what you guys might discover?
Charts and time frames
miru has traded this as a scalper. I will spare his blushes by not describing the R:R ration he was using. Since sending him his copy of the bot, miru has been playing out on Strategy Tester and now recommends most of the the defaults on EU, GU, H4 charts. Given that he has come to this by backtesting, make what you can of it.
In conclusion
I have no idea if this puppy has a tail to wag. Offer it a choc and see.
Matters of general interest
Read this post:
http://www.forexfactory.com/showthread. ... ost4923611 Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration. There is a thread devoted to Sam's trading method at http://www.forexfactory.com/showthre...25#post5118825
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.forexfactory.com/showthread. ... ost4431794, at the bottom of the post.
Useful utilities/EA's/scripts
Matt's chart-population script at http://www.stevehopwoodforex.com/phpBB3 ... 5733#p5733. Use this every time you start a fresh platform.
MaryJane has posted a fabulous utility to allow us to resize EA input windows: http://www.forexfactory.com/showthread.php?t=299017
Multi purpose trade manager: http://www.forexfactory.com/showthread.php?t=89371
Account equity analyser: http://www.forexfactory.com/showthread. ... ost4693716 Also at 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 ... p?f=5&t=15