- 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.
DO NOT USE THIS EA ON A LIVE ACCOUNT. IT IS EXPERIMENTAL.
Hanover
The Hanover module allows us to trade in the direction indicated by hanover's Recent Strength indi. I consider this to be the most significant development in my time at FF. Details in the Hanover thread at http://www.forexfactory.com/showthread.php?t=319709 If you use Hanover, I recommend lawgirl's ratio of 1:4 to 1:6 between your trading and higher-direction time frames. For example, if trading the M5 chart, use M30 as your Hanover time frame.
Prakash posted his ideas here at http://www.stevehopwoodforex.com/phpBB3 ... p=197#p197
I have coded the Martingale bit of his post. The hedging I shall leave until people can confirm that is necessaryl
EA inputs
You will find descriptions of many of the inputs in the attached Shell User Guide. I wrote it for issue with bots I code in the future. Where you see inputs described that you do not see in the EA's inputs list, ignore them.
The Martingale inputs:
- MartingaleLotMultiplier is the lot size multiplier. Lots go 0.01, 0.02, 0.04, 0.08 and so on
MaxLotsAllowed limits the lot size that the M sequence reaches. After that, it returns to the start of the sequence.
PointsLossToTriggerTrade is the number of pips for each trade to go down the tube before it triggers a trade.
CurrencyTakeProfit is your cash take profit figure. It only kicks in when the Martigale sequence is at more than one open trade. On the grounds that a 1.28 trade movement is worth much more than is a 0.02 movement, this input might also want a take profit multiplier based on the number of open trades. We shall see.
In conclusion
Have fun. Have a play. If this looks like having legs, it can go in the zip in the Hanover EA thread.
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.forexfactory.com/showthre...94#post4431794, at the bottom of the post.
Useful utilities/EA's/scripts
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.forexfactory.com/showthread.php?t=89371
Account equity analyser: http://www.forexfactory.com/showthre...16#post4693716 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?f=5&t=15
Most promising trading EA's
jiva: http://www.stevehopwoodforex.com/phpBB3 ... hp?f=5&t=3
