This EA has moved on. Latest versions are found at http://www.stevehopwoodforex.com/phpBB3 ... ?f=5&t=917. Use the posts here for information only. This thread is now locked.
SERIOUS WARNING
- 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.
The Stochastic indicator
- How to use EA's.
This is one of the most promising EA's I have coded. We started trading it in the run up to Christmas, traditionally a desperate time for the little guy. It was profitable. This is looking very good.
Intro
I received this pm from fxozgirl earlier:
"Hi Steve,
I have been running a journal at FF for a very basic manual system where I achieved the following results:
DEMO PIP UPDATE: 27/05/11 - 27/07/11 = 2844.3
UPDATE 07/07/11:
I have commenced trading this strategy on my Live account, so thought I would update the first post with the rules and background.
LIVE PIP UPDATE: 07/07/11 - 27/07/11 = 739.4 (2 trades)
The system is traded on the opening/closing of daily candles which worked really well for me, however I started a new job at the end of July which took me away from my computer at the opening of the daily candle, so I have stopped trading this method.
Since then I have been trying to work out a way I can get back to trading and I was wondering if you would consider creating an ea for me?
Basically the ea could be added to the charts just prior to the close/open of the candle when there is a potential set up thereby allowing the ea to open the initial trade for me.
When I was trading manually I was also using mptm to manage the trades along the way.
1. User configuration to set a buy or sell at opening of next candle (daily time frame)
2. MPTM configuration to allow the breakeven functions, jumping stop functions and close partial trades function.
If you are interested here is the link to my journal
http://www.forexfactory.com/showthread. ... ost4704067
I have also done some more manual backtesting from 21st July (when I last traded this system) to now and would have achieved in excess of 2000 pips.
I completely understand you must get many, many requests, so if you are too busy or you don't see the benefit of the system, that is completely ok, but I appreciate your time anyway.
Kind Regards
Shelley
(fxozgirl)"
How is a guy supposed to resist a gal hanging onto the planet by her toe-tips in Upside Down Land? Besides, look at the pips she is making.
Watch your Jumping Stop inputs. I have programmed Gday to close a third of the position every time a jumping stop event occurs, so having this too narrow will part-close your trade prematurely. Also make sure you lot size can be divided by 3; there is no idiot checking.
Trading modes
I included these so you can use the bot either as an always-on trader, or as Shelley wanted.
- FullyAutomatic leaves Gday to its own devices, to trade an escape from OB/OS at will.
SemiAutomatic tells Gday to trade once, then to manage the trade, but not to initiate further trades until restarted. Be aware that restarting your platform will restart the robot.
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.
Stochastic is fully configurable (well, nearly) for the inveterate tinkerers here. StochTimeFrame defaults to D1 and means you can change chart timeframes without disturbing the bot; I think.
Overall trading direction
There is a panoply of trend-detection should you wish the direction of your trades to be in line with a trend. I have included Hanover and CBI.
Trade trigger
Shelley is quite specific later on in this thread about the trigger. There is a detailed explanation at http://www.stevehopwoodforex.com/phpBB3 ... 3475#p3475
Trade exit
Excellent detail here: http://www.stevehopwoodforex.com/phpBB3 ... 3408#p3408
We are working on making trade exits more flexible. There is the alternative to use my own daily volatility calculator to calculate tp/sl.
With the passage of time, I am evolving a system whereby setting the first input in a block of inputs turns off that feature. This cuts down on a few Usexxxx inputs.
- The TakeProfit and StopLoss inputs override everything else. If > 0, Gday uses these to calculat sl/tp regardless of your other settings. You turn these off by setting them to zero.
If TakeProfit or StopLoss respectively are set to zero, then Gday looks at the Volatility calculations:- VolatilityLookBackCandles is the number of candles over which the volatility is calculated. It works by calculating the sum of (High(shift) - Low(shift)) / VolatilityLookBackCandles. In tandem with VolatilityTimeFrame, Gday looks back over the previous 20 D1 candles, or approximately 1 month of trading to arrive at the volatility calculation.
Saturday and Sunday candles
I understand that Upside Down landers have a Saturday morning candle; I know we Right Way Uppers have a Sunday night candle. As these are not likely to figure in trading, I have included triggers to turn them off.
Research posts to read
garyfritz has an excellent post regarding the pairs to trade, at http://www.stevehopwoodforex.com/phpBB3 ... 3725#p3725
In conclusion
Let's see how much tail-wagging this puppy can do. 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.forexfactory.com/showthread. ... ost4431794, 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
