- 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.
Pipcruiser's Pipcrusher on Steroids is Pipcruiser's Pipcrusher (down load and read about at http://www.stevehopwoodforex.com/phpBB3 ... 14#p101314).
PPoS allies PP with Bob's HGI multi-level trading. This involves setting pending trades at each 20 line, with a take profit of 30. This limits the exposure to a maximum of 2 open trades per pair. Here you will be exposed to three trades, as the Main Trade is sent with a huge tp.
PPoS sends the first trade in the normal way at the open of the broker's D1 candle (actually by default aboout 10 minutes into the candle). It then sends a grid of MultiTradesMax pendings at each successive 20 level, beginning with the first one that is at least 20 pips away.
After that normal PP behaviour should take over. If the open price of the first trade (labled Main Trade) is modified at the open of the new D1 candle, then the rest of the pendings should follow. All pendings are sent with the correct expiry time and so will disappear after FridayPendingExpiryHours.
The multi-level inputs all begin with 'Multi' so I leave you to work out their meaning for yourselves. Ask in the PP basics thread if you are unsure of anything.
PPoS differentiates between main and multi-level trades by the two trade comment inputs. There are idiot checks for people who bugger things up.
End of week/month trade closure and deletion
There are inputs that tell PPoS when to stop trading and close trades, in the "End of week/month trade closure and deletion" section. All hour inputs are 24 hour computer time - forget broker time:
- Friday pending trade expiry:
- FridayPendingExpiryHours: This hour is sent with the pending trades, so unfilled ones will automatically expire by default at 16.00 London time.
- End of week trade closure:
- TradeClosureDay: Sunday is 0 in crapql4 terms, so the default of 5 tells PPoS to take closure actions on Friday. I have included this input for our friends in Upside Down Land. >6 disables this feature.
- WinningTradeClosureHour: close all trades that are in profit once this hour is reached on Friday. 23 disables this feature.
- LosingTradeClosureHour: close the outstanding losers at this hour on Friday. >23 disables this feature.
- Markets often reverse direction during the last week of the month and members have suggested that not trading from around about the 23rd will avoid giving back a lot of the profits built up during the early weeks. There are two inputs in the "Specific strategy inputs" section, under "End of month":
- StopTradingDay: if > 0, PPoS will send no further trades from this day onwards, until the open of the next MN1 candle.
- CloseAndDeleteTrades: thyis tells PPoS to close market trades and delete pendings - enabled by default.
PPoS has the ability to use ATR to set your take profit and stop loss. Find out about it elsewhere if you know nothing about ATR; this thread is not a ATR tutorial.
AtrPeriod is the input that turns off ATR completely. If you want to use it for the tp/sl/be/js features then set it to your desired period. Do not use it at all if you understand nothing of the previous sentence.
AtrTimeFrame is the time frame over which to measure ATR. PPoS trades a daily strategy, so the default of 1440 reflects this.
From here on, each input refers to the value it is calculating. A zero value turns off ATR for that particular function. Each input begins with "Atr" then the next two letters denote the stop it is calculating:
- AtrTpMultiplier multiplies ATR by this input to calculate the take profit.
- AtrSlMultiplier multiplies ATR by this input to calculate the stop loss.
- AtrBeMultiplier multiplies ATR by this input to calculate the break even price.
- AtrJsMultiplier multiplies ATR by this input to calculate the jumping stop.
Have fun girls and girlesses
Setting up your charts
Pay a quick visit to http://www.stevehopwoodforex.com/phpBB3 ... =48&t=3860 and download Art's 'Charts Into Alphabetical Order script'. This script will save you hours of faffing around; instructions for use in the post.
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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