THIS POST IS LOCKED. PLEASE READ THE FINAL POST TO SEE WHY.
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.
One of the guys at FXAW mentioned Captain Currency's 3 Ducks trading system.
I had forgotten about this. I came across it a few years ago but did not appreciate its potential strength at the time - back then, I did not understand much, to be honest.
CC's stuff is copyright so I cannot upload his ebook here. Download it from http://captaincurrency.blogspot.co.uk/2 ... ystem.html. Leave your email addy and you will quickly receive a breezy invitation to download the ebook. That is all you get. CC does not bombard you with spam - I remember from a few years ago that he did not do so back then either. Nice guy, it seems to me.
My understanding of CC's basic idea is this:
- it is a trend trading system.
- taking a buy as an example, the trend is ascertained by:
- market is > the H4 60 period SMA.
- market is > the H1 60 period SMA.
- from there, burrow down the the M5 60 period SMA:
- find the nearest high that is above the M15 60 period SMA. Buy when the market crosses it.
So, that is the 3 Ducks. The fourth is Bob's H4 240 period moving average. To the above, add that the market has also to be above the H4 240 MA for a buy, below for a sell.
There is a stop loss input that you should regard as a disaster sl. The actual sl is a recross of the M15 SMA in the opposite direction.
From here, BASA takes over. The tp is the same and stacking is implemented in the same way - in fact, 4 Ducks is an edited version of BASA. Go to http://www.stevehopwoodforex.com/phpBB3 ... 838#p70838 to download the user guide that explains all the inputs.
Missing from BASA is Stochastic and TMARSI2 as they are not relevant here.
Tomasso's contribution
4 Ducks is a conversion of Bob and Shelley Again. I thought it would be sooooo easy to make the conversion, but it threw up a lot of problems with trades opening and then immediately closing again.
Tomasso has solved the problem with:
- some code rearranging.
- adding a minimum time for the trade to remain open. The relevant input is DeltaTimeLiveTrades at the base of the General Inputs. This is an input in seconds, so the default minimum is 5 minutes.
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
