- 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 these robots, you have to understand:
- How to use EA's. Remember to set IsGlobalPrimeOrECNCriminal to 'true' if your crim insists on two-stage order sending.
- the information in this thread: http://www.stevehopwoodforex.com/phpBB3 ... 454#p80454. Remember these are aids to manual trading. THEY ARE NOT auto-traders.
I have developed a range of EA's to do what I wanted. One slight problem with Bob's template is that it masks the chart feedback that my bots presents - it is possible to miss the fact that there is an EA on the chart. I have restored some of the usual Empty4 chart display values. There is a downside to that because elements of the irrelevant grid show, but there is nothing I can do about it.
All the EA's except for the Stochastic EA's base sending their trades on a cross of a line, There is a downside here. CrqpT4 candles are constructed from the Bid. Sell trades based on the market crossing down below a line are perfect. Buy trades based on the market crossing above a line have this problem:
- trades based on the Ask crossing the line will be correct but look wrong on the chart because the candle will appear not to have reached the relevant level.
- Trades based on the Bid crossing the line will appear correct, but will be late by the value of the spread.
When you load one of the EA's onto a chart, it will ask for confirmation that you wish to use it. The initial warning will remind you that you have an EA running that you have possibly forgotten about. Most of them detect an open trade or trade trigger line and skip the warning so you can change timeframes on the chart without disturbing the bot. The Stochastic EA's will continue to bug you as they do not draw a line and so do not know that they were already running - I cannot think of a way around that. The EA's delete themselves once the trade closes (more details in EA Self-Removal further down).
Here is the list of EA's in the zip:
Steve's 10.6 trading aid EA - buy limit trade.mq4
Takes a trade when the market drops to the trade trigger line from above.
Steve's 10.6 trading aid EA - buy stop trade.mq4
Takes a trade when the market rises to the trade trigger line from below.
Steve's 10.6 trading aid EA - buy the bounce trade.mq4
Imagine the scenario. You want the market to fall to a support such as the DP. The market is above the price that would trigger a trade, so you wait for the market to fall to DP, the bounce back upwards and trigger the trade. This is where you use this EA. Initially, the EA draws the trade line 30 pips above/below the current market; from there you adjust the line to represent the price you want the trade to enter.
Equivalent sell EA's
These work as above except in the opposite direction.
Steve's 10.6 trading aid EA - Stochastic H1 buy.mq4
The market is ranging or there is a strong H4 long trend continuation and the H4 Stoch is never going to trigger a trade. You drop down to the H1 to enter following a cross upwards of the H1 20/40 levels. Here is where you load this EA. A cross upwards of the 40 merely has to be preceded by a close below it to trigger the trade. There is no requirement for a close below the 20 for the 40 to trigger a trade.
Steve's 10.6 trading aid EA - Stochastic H4 buy.mq4
The market is trending long and you are awaiting a cross upwards of the 20/40 levels. Here is where you load this EA. A cross upwards of the 40 merely has to be preceded by a close below it to trigger the trade. There is no requirement for a close below the 20 for the 40 to trigger a trade.
Steve's 10.6 trading aid EA - Stochastic H1 sell.mq4
The market is ranging or there is a strong H4 short trend continuation and the H4 Stoch is never going to trigger a trade. You drop down to the H1 to enter following a cross downwards of the H1 80/60 levels. Here is where you load this EA. A cross downwards of the 60 merely has to be preceded by a close above it to trigger the trade. There is no requirement for a close above the 80 for the 60 to trigger a trade.
Steve's 10.6 trading aid EA - Stochastic H4 sell.mq4
The market is trending short and you are awaiting a cross downwards of the 80/60 levels. Here is where you load this EA. A cross downwards of the 60 merely has to be preceded by a close above it to trigger the trade. There is no requirement for a close above the 80 for the 60 to trigger a trade.
Steve's 10.6 trading aid EA - market buy.mq4 and Steve's 10.6 trading aid EA - market sell.mq4
Sends immediate market orders.
Steve's 10.6 trading aid EA Master.mq4
This one is for the coders guys. Ignore it unless you want to add your own wrinkles to any of the above. Coders, explanation at the start of the code, just underneath the Constants declarations.
Trade exit on a moving average recross
There are two inputs that will make the ea on your chart close the trade following a recross of an ma in the wrong direction:
- CloseTradesOn60Recross: this will close the trade after a recross of the H4 60 lwma.
- CloseTradesOn240Recross: this will close the trade after a recross of the H4 240 lwma.
Both moving averages are user input controlled so that the inveterate tinkerers here can happily inveterately tinker. Don't blame me if you bugger things up for yourselves by tinkering.
Recovery
This is an idea Bob came up with several trading systems ago. I used it successfully in my demo 10.6 trading last week, and so added it as a possibility for users here.
The basic principle behind Recovery is this, using a buy as an example:
- you take out a buy trade.
- the trade moves against you and you are in the hole by, say, 50 pips. You take out another buy at the same lot size as the original trade.
- if the market now moves back in your direction by 25 pips, you have the original trade at -25 and the new trade at +25. You can now close out an uncertain position at breakeven.
- your position closes at breakeven.
- your position hits a stop loss and all your trades close.
- you reach your maximum allowed number of open trades and either manage to close out at breakeven or you decide you are onto a loser and cut the process short.
- MaxTrades: the most trades you will allow in the Recovery process. The default of 1 disallows Recovery.
- RecoveryDistancePips: the distance in pips that the market moves against you to trigger a Recovery trade. This level is represented on your charts by a Turquoise line. Once Recovery is in progress, the BE is represented by a Magenta line.
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Any inputs you do not recognise are fully explained in any one of the umpteen Shell User Guides littered about this forum.
Extra EA's
flexible Stochastic versions - explanation at http://www.stevehopwoodforex.com/phpBB3 ... 723#p81723
Shelley's Recovery management EA: explanation at http://www.stevehopwoodforex.com/phpBB3 ... 811#p82811
Useful indicators
iHistory is the indicator I use to generate the pictures of my week's trading that I put into the EDSEL ans BASA threads. Run it on any old chart and timeframe. It analyses the trades in your History tab; if you change the trades being viewed there and iHistory does not immediately respond then simply change the iHistory chart time frame.
Shell user guide
This describes the usual inputs in my EA's. Consult it for details not listed above.
EA Self-Removal
The code was provided by 1002 in the MGL4 forum (http://forum.mql4.com/45567). madpipa provided the link after researching the problem of making EA's delete themselves, so a huge round of applause for madpipa.
Coders, the Self-destruct EA.mq4 in the zip shows you what you need to add to your own code to create self-removing EA's. Watch it display a count of 9 ticks before unloading itself. Fantastic.
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
- 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 ... ?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
