- 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.
- Swing trading.
- ZigZag
Cast your jaundiced eyes over this folks, with the EA running for its first week: The EA is inspired by a link to a YouTube video by Ghostrider, brought to my attention by c1borg. The money management part pf the system is based on the cut-your-losers-short and let-your-winners-run. The larger losers in the pic occurred before I got the stop loss calculations correct and I had to close them manually. Ghostrider's principle can be summed up by: "When a trade is wrong, it is wrong, so cut it short."
The details are all in the user guide, so read this first and view the YouTube video before going any further.
Some accounts for you to follow if you are short of demo space.
All are using the D1 higher time frame Swing_ZZ for the overall trading decision. None of the optional indi's are enabled. The first three have an open balance of US $20,000 and are trading 0.2 lot sizes.
Login: 2205351
Investor: ukh5ycm
M15 for trading, M5 SupDem
Grid 5, spaced 5 pips apart.
Login: 2205356
Investor: 2djiusd
H1 for trading, M30 SupDem
Grid 5, spaced 15 pips apart.
Login: 2205359
Investor: kdj7gws
H4 for trading, H1 SupDem
Grid 5, spaced 30 pips apart.
This one is the same as the M15 trader, but with a US $1,000 starting balance and trading 0.01 lots.
Login: 2205368
Investor: he3gbdr
M15 for trading, M5 SupDem
Grid 5, spaced 5 pips apart.
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
- http://www.stevehopwoodforex.com/phpBB3 ... =21&t=5190
- 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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