- 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.
- Bob's HGI indi
I have stuffed poor Bob into yet another hedge.
You need Bob's Holy Grail Indicator. Download Bob's zipfile from http://www.stevehopwoodforex.com/phpBB3 ... 45#p105045. You need a version of HGI in your Indicators Folder - the latest version is attached to Bob's post 1. Remember to change "Holy Graily Bob in a different hedge" HGI_Name input to the name of the version you are using.
I shall call the bot HGB from here on.
I always include this link at the bottom of each post 1: Masterly summary of hedging: http://www.forexfactory.com/showthread. ... ost4977179
It is a post easily read. The gist of what he is saying is:
- Don not hedge in blind panic.
- Hedge buy trades with sell trades when your system generates a sell signal.
- Hedge sell trades with buy trades when your system generates a buy signal.
- Close the successful side of the hedge, if there is one, when your system generates a signal that would usually cause you to close those trades i.e.
- Buys are profitable and your system generates a sell signal.
- Sells are profitable and your system generates a buy signal.
- close the sell trade.
- go into a modified form of Recovery buy adding new buys each time there is a new buy signal:
- the market must have fallen since the previous trade was sent.
- there must be < MaxTradesAllowed trades already open.
- close the basket of buy trades when:
- the combined profits reach the value in the UnHedgedCashProfitTarget input.
- optional - close the basket if it is in profit and a yellow range wave appears.
This will be successful until we hit a leaky toilet. This bot's ultimate success will depend on whether we can find ways of dealing with it. Let us just play with it first and see what it does.
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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