- 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.
- Super Slope from http://www.stevehopwoodforex.com/phpBB3 ... 101&t=4888
/viewtopic.php?p=142851#p142851
Have a look at this picture of the trades open at the time I took the pic. You may have to open it in a new tab to view the details. Note the balance: $16,228. The original deposit was $20,000.
Note the equity: $21,843.
Scroll along to the 'Profit' column: +$5615.
Slopey Hedgy Bob evolved out of my checking the scale out stop loss I coded for Desky. I opened a GJ buy and sell to make sure the market would move far enough to start closing portions of at least one of the trades. The market cooperated for a change and Desky eventually closed all of the sell in four stages, then the entire buy. The profit was the difference between the phased loss on the sell and the profit on the buy, minus costs.
I knocked together Art. He traded at the start of each new trading day. He would check to see if each pair had an open trade and if not, send a buy and a sell trade. He was called Art because he used the D1 ATR to calculate the take profit and stop loss, so I simply rearranged the letters of ATR to name him.
Art then monitored each pair of trades to close out the losing one in four stages. ATR proved to give too narrow a range and I was seeing both sides of the orders being closed, so I changed to the default of 100 pips. ATR is still in the code should anyone want to experiment further; it is disabled by default and the inputs hidden from users but most of you should be able to unhide them should you wish to.
I had added CCI to a privately commissioned EA by one of our members, who wanted to trade only when there had been a trending market - ideal for Art as we ideally want the market to move strongly in one direction. I added CCI to Art.
Then I thought of Super Slope and wondered if avoiding trading when the values are in the -1 to +1 range, so I added SS and renamed Art as Slopey Hedgy Bob.
SHB requires no thought. I have coded the defaults as I am trading on the demo. Just amend the Lot input according to the starting balance, making sure that it is divisible by NoOfLevels.
I have no idea whether SHB has a future, or how we make the most of him if he does. It may be that a periodic basket closure my be best - we shall see. US citizens will be able to trade him live by splitting the account into two halves and loading an instance of the bot onto each account with TradeLong and TradeShort set to trade only in one direction.
If you want to follow my demo then you can access it on a Global Prime demo with these details:
- Login: 2167000
- Investor: rm6fdxm
The Investor password allows you to view progress without being able to open/close trades, so you cannot do any harm.
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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