Most Forex traders lose all their money.
Using the software mentioned in this thread to trade Forex does not guarantee success.
Trading using this software could lead to serious financial loss.
Trading this software without understanding it guarantees traders will lose their money.
This is not a set-and-forget Software Trader; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This Software Trader requires frequent manual intervention.
At best, an automated trading strategy 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 are the results in the Trader.
Furthermore it is so easy to get up and running with a strategy the temptation to run it live will be greater and since it is your own strategy your ego will insert itself into the process.
If you never read the Classic book by Mark Douglas "Trading in the Zone" I highly recommend it.
Mastering trading is mastering the psychology of trading.
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Ok what this is all about so I can get you all on the same page with me is two fabulous software programs found at the url listed below. So what can you do with them. In a few hours you can develope one or more strategies and have them trading on a demo account in a few minutes after each is developed without having to know code. So I think this is not only addictive software but software that empowers you the trader to experiment and be creative once you understand the program and how to use it. To that end I have started to create a series of videos explaining the software. This will be a thread where we can discuss the strategies we develope that seem to be trading well. They can be uploaded and tested further by other members with the hope of developing EA's if they are stable. The speed of development becomes extremely rapid and ideas are well tested prior to actual coding. Anybody who has an idea does not have to convince anyone of its virtue they just need to put it on demo. If it runs well than they can share it. Once uploaded the strategy may be able to be improved on by other members. The strategies are automatically generated in xml code in the program. It is readable in a browser. It is very precise. Code could easily be develped once we fully know how to make that logic transfer to mql. This will also be a thread about what is the best practice for using the program. The program is quite flexible. You can just develope a system of your design that you trade manually and put it on demo. The software can also develope a whole new strategy from scratch in the generator. You can also improve a already working strategy. At some point you may need a 12 step meeting to break your adiction to the software.
So imagine you took several hours on a Saturday and said to your self lets build a system. So you have a kernel of an idea that you think of and insert it into this software program. A EURUSD 1 hour strategy lets say using the Money Flow Index because you have an Idea that everybody is wrong about volume in forex. Now the program can be put into a generator mode. In this mode you can lock down the Money flow index as an opening logic indicator. You will now need an opening point and possibly more opening logic and an exit point and closing logic or just an exit point. So lets do this systematically and not to go into much detail here because it is to complicated to do so but you can let the computer by brute force run thousands of different combinations of indicators against the base model you have created until you find the best combination. At the same time it is running thousands of different setting to find the best ones. So once you flush out your idea and you save it in the program as a strategy. It saves it in xml code. It is also readable so if you want to build an EA from it just read it.
Now that strategy can than be loaded into the Strategy trader software. It hooks into Empty4 with an EA. This is just a communication center to communicate back and forth to the external windows program Strategy Trader. Now you run your strategy and see how it works on Demo. You can tweak it to even get it better in the builder.
So best yet. Imagine building 10 strategies in that afternoon and running them all on the start of the new trading week. That is what I have done and I have several trading in the money.
This is very deep software. I am trying to develop a best practice model for how to use it and what I want to do is develop some base strategies that can be used over an over and built on for new even more successful strategies.
So the following is the link to the software site and the 37 minute intro to the software. It is on You Tube. I plan more polished Videos but I wanted to kick this thread off and introduce you to the interface of the builder. So the next one will have an actual script and be a lot shorter. I will present one on the trader software next and point out some things I missed in the intro video in the generator. Video is the ideal way to explain software so I plan more Videos.
This is the url to the software site and associated forum as well as the manual. You will find the download page there.
http://forexsb.com/wiki/
From Mr Popov
"FSB uses symmetrical strategies. It means that the Short trade logic is mirrored Long logic. That's why, we enter only long rules in FSB / FST. There atwo reason for that:
1. Easier work with the program. Less things to adjust.
2. Removing possibilities to fit a strategy to current trend. For example, to exploit long trade on an rising market and to fail later, when the market changes."
The links to the You Tube videos is as follows.
Video One ... An Introduction to Forex Strategy Builder
http://youtu.be/tvwSaVQHNaE
Video two ... An Introduction to Forex Strategy Trader ... This one will have you running on a demo when your done watching. The trader is easy to operate.
http://youtu.be/KV1RZ_bNr0Q
One thing I left out on the Trader video is that after you click the red stop execution button if you want to disconnect from the expert than you press on the Id number in the trader and it disconnects. That is ID 101 in the video. Another reason to keep track of your magic numbers and there associated strategy is if your computer crashes than you can load them back in properly so that your analytic statistics remain useful at those sites.
Video three ... Further thoughts on Forex Strategy Builder
http://youtu.be/sGtgVt0wdD0
Very powerful concept in FSB. You can take a strategy and export it as a custom indicator.
http://forexsb.com/wiki/fsb/strategy_to_indicator
FOR PROBLEMS WITH TRADER INSTALLATIONS HERE ARE THE FILES
This one goes under experts/libraries Empty4-FST Library.dll
This one goes under experts/ Empty4-FST Expert.mq4
