- 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 tells you there is, is either a liar or an idiot. This EA will need 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.
- How to use the Slope indi from Nanningbob's 10.2 system:- - first visit Jemook's thread at http://www.stevehopwoodforex.com/phpBB3 ... 562#p17562 Here you will find where to start reading about Nanninbob's 10.2 and learn to trade. Bob's stuff is the best thing to arrive during my time trading Forex. It is massive. Jem's thread will help you get started if this is new to you. I once stated that Recovery may well turn out to be Bob's lasting legacy to us retail Forex traders. I was wrong; this is actually going to be Slope, and it will have a part to play in everything we do from now on.
- - How to use EA's.
Background
The Beast is a huge program. Read about it in the attached user guide; this describes TB's development and how it trades.
I received this pm from morgb a couple of days ago:
"Greetings Steve,
I'm still here in the background watching + learning every day on your amazing forums, and still using the beast live!
This year so far the beast has gained 19% on a 2k live account with alpari UK, without any serious wobbles yet, im a vet of trading the beast now almost 16 months live trading 0.01 lots across 7 pairs only.
I cant help but wonder if the beast was to be tweaked / aligned with bob's 10.2 slope indicator somehow, if that would supercharge her or make her worse lol.
Anyways, im sure its crossed your mind at some point, if not then maybe worth a ponder.
The beast lives!!!!
And I bet im not the only one trading her slow but sure.
Cheers
"Then later on, in response to me asking for the code for the version he is trading:
"Hi Steve,
Attached is the version I've been using live for almost a year and the .set file in case you want to see how its been running.
For Info I've run it on :-
EURUSD
GBPUSD
USDCHF
EURGBP
GBPCHF
AUDUSD
GBPJPY
Completely unattended with minor checking between workdays etc.
If you need anything else or the files are corrupt for any reason give me a shout and I'll email you direct.
Cheers,"
I have attached Morgan's set file, although I have hardcoded it as the defaults anyhow; I add it so you can return to it should you make changes for testing.
Slope
Guys, you really need to understand what the Slope indi tells you, so do not take this brief summary as The Definitive Statement. Basically, Slope tells us this:
- - >= 0.4: look to buy and take profit somewhere along the line.
- >= 0.8: look to buy and hold the trade, and add to the position as the market continues to rise.
- <= -0.4: look to sell and take profit somewhere along the line.
- <= -0.8: look to sell and hold the trade, and add to the position as the market continues to fall.
Slope depends on having a full content of bars on your chart. If you start a new demo, there will be a lot missing. Go to http://www.stevehopwoodforex.com/phpBB3 ... 189#p14189 to find out how to replace them.
I leave you to work out what the Slope inputs are for yourselves - they should be pretty obvious. Turning either of the xxxTimeFrame input to zero turns off the filter. If the HtfTimeFrame is being used and the value is in the buy and hold/sell and hold regions, then SB overrides the CloseBoxTradesAtxxx inputs and allows the trade to run.
A couple of Slope inputs that are in the 'Trade style choices' section of the inputs: FilterCttWithSlope and FilterWbtWithSlope allow you to turn off the Slope filter should you not want to use it with one of the trading styles.
In conclusion
I have traded an earlier incarnation of this EA. I rely on Slope for my current live trading. SB is a combination of the two and I regard it as highly promising.
I have made the full conversion from points to pips, so I may have got something wrong somewhere. Any errors or omissions will show up in demo trading.
Have fun.
Matters of general interest
Read this post:
http://www.forexfactory.com/showthread. ... ost4923611 Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration. There is a thread devoted to Sam's trading method at http://www.forexfactory.com/showthre...25#post5118825
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 ... p=803#p803, at the bottom of the post.
Useful utilities/EA's/scripts
Matt's chart-population script at http://www.stevehopwoodforex.com/phpBB3 ... 5733#p5733. Use this every time you start a fresh platform.
MaryJane has posted a fabulous utility to allow us to resize EA input windows: http://www.forexfactory.com/showthread.php?t=299017
Multi purpose trade manager: http://www.stevehopwoodforex.com/phpBB3 ... p=516#p516
Account equity analyser: http://www.forexfactory.com/showthread. ... ost4693716 Also at 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 ... p=803#p803
