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:
o How to use EA's.
o The impact of major news events and central bank interventions on the Forex markets
DO NOT USE THIS EA ON A LIVE ACCOUNT. IT IS EXPERIMENTAL.
Welcome to StuffTheNews. The genesis of this EA lies here http://www.forexfactory.com/showthread. ... ost5106097. Newbies, read that post for an explanation of CBI.
What I write about the genesis of this particular bot is true. Looking back though, the origin of everything we know about CBI comes from one remarkably generous contributor to FF, scooby-doo. Scoobs is a former trader with HSBC, amongst others, and many of us have benefited fantastically from his advice. The link I posted in the previous paragraph leads you to a post that itself contains a link to the thread that got us all started, where I quote Scoobs' first ever post about all this. If this all appears a bit confusing, here is a direct link to post 1, where I quote Scoobs' first post about all this: http://www.forexfactory.com/showthread. ... ost3199485
Scoobs, without you none of this would have happened. Step forward for a huge round of applause.
We developed STN in the Hanover thread, but that thread is about developing robots that use David's Recent Strength indi. Newcomers to all this, read post 1 for an explanation; you will find much there to benefit you.
I envisage two uses for STN:
1. As a trader in its own right.
2. As a proctector for existing trades, so long as they have the same magic number as STN.
So, set up a new demo and open enough charts to represent all of the currencies we trade. There is probably no harm in opening lots more, but when high-impact news/CBI events occur, market movement is so violent that having more than one EA trying to send trades can cause your platform to collapse under the strain. When thinking about this, always remember: Empty4 is crap.
There are two methods of detecting a violent move in the market:
1. UseAstral: the original table tick method. To the best of my knowledge, astral has never posted his real name here, so I use his FF name. STN compars the latest tick with that of TableSize ticks ago, and goes into trading/protection mode if the difference between them exceeds that of Threshold.
* TableSize: The number of ticks to store in your table.
2. UseGeorge: wfh200 both sorted out my originally abortive attempt to set up a tick table, and provided a second method for detecting a news/CBI event. wfh200's real name is George, hence the name of the filter.
* Per is the number of ticks to calculate the moving average of the Bid.
* Channel_Delta is the distance above and below the moving average of the bid to draw the lines beyond which the bot will start CBI trading.
EA inputs
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.
Other inputs specific to this bot and not in the guide:
* CloseOnCBI: if true, this will close all trades linked to the chart and the EA that are in opposite direction to the detected move.
* HedgeOnCBI: will hedge open trades linked to the chart and the EA that are in the opposite direction to the detected move. This is not currently available to US traders, because they are being screwed by their own government.
o CbiHedgeLotMultiplier: the multiplier for the open trade's lot size. The idea is that the strength of the move will allow the winning hedge to overpower the losing original, and close the entire position at breakeven.
* TradeOnCBI: if true, the EA will trade as soon as it detects a CBI scenario. It will trade regardless of the current position and will ignore normal maximum trade settings. Watch out when experimenting with a low threshold; the bot trades whenever the Threshold input value is breached, so there are a lot of these until you turn off the EA.
o TradeOnCbiTP and TradeOnCbiSL are the tp/sl for the new trade.
If you want to play with Strategy Tester, there is a note in post 1 of the Hanover thread that describes how to do this.
I do not guarantee the code is bug-free yet.
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.
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 at FF. 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 ... p=150#p150, 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/showthre...98#post4709098, 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
Most promising trading EA's
jiva at http://www.stevehopwoodforex.com/phpBB3 ... php?p=3#p3 |
