Bob's Second Brainless Thingy

Post by **SteveHopwood** » Wed Oct 08, 2014 7:34 am

fx8000 » Wed Oct 08, 2014 7:09 am wrote:I have been studying this bot's behaviour in the past few days. The profits would appear to be eroded as the hours go by.

The bot's strategy is based on price momentum at the session open. I reckon you have to take what the market gives you during each session as Bob suggested.

So, I have decided to set MPTM for global closure at 1% of balance during each session. If this is not achieved, then I would close all trades manually three hours into each session whether they are in profit or loss. Rinse and repeat for the next session.

In four trading days and one session, the bot has made 1.4% profits (209 pips).

Further refinement would involve picking which pairs to trade for each session as Bob suggested, for example trade cad only during us session.

Great investigation fx8000.

I will add a close-trades-after-x-hours function later, to help you.

Post by **fx800** » Wed Oct 08, 2014 7:52 am

Thanks, Steve. I am not sure if that is the way to go just yet. Will continue with the testing in the meantime.

I think picking the pairs to trade each session is important, and that can be easily done by changing the trading time input for each pair.

Another point to consider is adjusting the stop loss for the more volatile pairs like GBPAUD,GBPNZD. etc.

Post by **fx800** » Wed Oct 08, 2014 8:59 am

The same pattern repeated today.

At the end of the first hour into the session, up 40 pips.

Two hours into the session, what happens ?

Post by **fx800** » Wed Oct 08, 2014 9:03 am

I will start another demo soon using reneexxx's settings of SL=15, TP=15, and setting using BOBMM to false.

After all, this is a scalping ea, and do not expect to get hundreds of pips.

Post by **SteveHopwood** » Wed Oct 08, 2014 9:23 am

V 1c is in post 1. CloseTradesAfterHours tells B2BT to close a trade after this number of hours have passed. Find it at the end of the Trading Hours inputs.

Post by **fx800** » Wed Oct 08, 2014 9:25 am

SteveHopwood » Wed Oct 08, 2014 9:23 am wrote:V 1c is in post 1. CloseTradesAfterHours tells B2BT to close a trade after this number of hours have passed. Find it at the end of the Trading Hours inputs.

Many thanks, Steve.

Post by **fx800** » Wed Oct 08, 2014 9:37 am

A new demo set up using the latest update to close 3 hours into each session, using SL=15, TP=15, UseBobMM=false.

I have excluded the volatile pairs like GBPNZD because the SL of 15 pips is simply inadequate.

Just hoping to scalp 15 pips here and there.

All set for the us session at 1 pm uk time.

Post by **fx800** » Wed Oct 08, 2014 10:04 am

Even 3 hours into each session is too long.

The end result is a losing session.

I will persevere with 3 hours till the end of the week, and see what happens.

Post by **fx800** » Wed Oct 08, 2014 11:10 am

In real life, you are not going to load this bot on to all available pairs at random and hope to succeed.

You will need to look at the CSS and pick your pairs to trade. So, this bot is a very useful tool for that purpose.

Looking at Bobs's 11.0 thread, the guys there are having some success at trading the strategy using various settings. Pick the successful settings and automate the trading process.

http://www.stevehopwoodforex.com/phpBB3 ... 914#p99914

Simply load the ea on to a chart, same the template. When you want to trade a particular pair, just load the template and go.

Post by **fx800** » Wed Oct 08, 2014 12:22 pm

The US session started 21 minutes ago. So far, the latest update has performed impeccably well without any hitch.

I am giving the bot three hours to hit the scalp target of 15 pips.

Please note that Bob sets his trading to start one hour after each session opens, i.e. 2 pm uk time for US session instead of 1 pm which is the default setting.