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. Remember to set IsGlobalPrimeOrECNCriminal to 'true' if your crim insists on two-stage order sending.
- Nanningbob's 10.6 - and if you don't then you really have not been paying attention.
Intro
Trading systems do not come much simpler than Bob's 10.6 system. Fact is, though, that he uses much more to guide his trading than appear in his 'rules' - daily/weekly/monthly SR for example, or his understanding of the fundamentals at play behind the markets.
Simple Bob is not a futile attempt to automate his 10.6 trading. It is inspired by 10.6 and is an attempt to use those of Bob's 'rules' that can be automated.
Trading rules
H4 time frame.
- Buy trade:
- Bob's double moving average shows an uptrend.
- Neither the Daily or Weekly pivot is between the market and the take profit (this filter can be turned off - see inputs).
- draw a pending buy line LineBufferPips above the next xxx.00 line. When this is reached, send the trade if:
- the first currency in the pair is > 0 on Baluda's CSS (D1), and the second is < 0.
- Stochastic 7, 2, 2 is > 20 and rising.
- all the optional filters are ok. See "Andy's filter" below.
- Sell trade:
- Bob's double moving average shows a downtrend.
- Neither the Daily or Weekly pivot is between the market and the take profit (this filter can be turned off - see inputs).
- draw a pending sell line LineBufferPips below the previous xxx.00 line. When this is reached, send the trade if:
- the first currency in the pair is < 0 on Baluda's CSS (D1), and the second is > 0.
- Stochastic 7, 2, 2 is < 80 and falling.
- all the optional filters are ok. See "Andy's filter" below.
Andy (MrLong) uses this highly effective filter (enabled by default):
- only go long if the H4 21 period EMA applied to the Close is > the 55 EMA and the distance between the two EMA's is diverging.
- only go short if the H4 21 period EMA applied to the Close is < the 55 EMA and the distance between the two EMA's is diverging.
By default, using a buy as an example:
- the pending trade line is drawn 10 pips above the next xxx.00 line. The xxx.00 lines will move when the Bid crosses one of the boundaries. The pending trade line will not move if the market is moving upwards - otherwise there would never be a trade. It will move down if the market falls. Buy trades are triggered by the Ask, so you might want to have this showing on your chart.
- Take profit is 85 pips, so 5 pips short of the next rising xxx.00 line. Stop loss is 30 pips, giving a near 3:1 reward:risk ratio. This is one of the thingies we need to play with.
I attach Currency Slope Strength and 10.4 H4 RSI2 so that you can have them on your charts should you want them. You do not need them - all the code is subsumed within the EA. 10.4 H4 RSI2 is not a part of this system, but is available as one of the many standard options.
Trade stacking
We are learning the power of trade stacking over in the Bob and Shelley Again thread. I have added this function to SB. Read about how this works in the BASA User Guide at http://www.stevehopwoodforex.com/phpBB3 ... 838#p70838
Future development
I have started with a simple structure. If this is immediately successful then great. Features I am considering adding are:
- Consideration of daily and weekly pivots.
- Adding the 60 LWMA and not trading unless the market is outside of them.
All the usual stuff is here - consult the user guide for details.
Disabling filters
All the filters can be disabled in the usual way - see user guide. Stochastic can be disabled by setting the K input to 0. Inveterate tinkerers can tinker inveterately to their heart's content.
Conclusion
You have noticed that daily and weekly pivots are not included in this? Let us see if we need them first - if they prove important I can add them easily.
Let the testing begin.
Shell user guide
This describes the usual inputs in my EA's. Consult it for details not listed above.
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
