- 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.
Griddy Wotsit arose from our experiments with hedging strategies for HGB'nG. He was intended as a bit of fun and is really entertaining to watch - the thread is an entertaining read http://www.stevehopwoodforex.com/phpBB3 ... f=5&t=4603. His enemy is the leaky toilet market I described in post 1 of the original thread. It looks as though Gertje has found a way of dealing with it - read his post at http://www.stevehopwoodforex.com/phpBB3 ... 59#p135359.
This is what GW does:
- Sends a grid of 5 buy stops and 5 sell stops, starting 10 pips away from the current price and at intervals of 10 pips. Take profit is 10 pips. No stop loss.
- Monitors the grid:
- Tops up the grid whenever there are only one of a group of pendings outstanding. He will delete all outstanding stop orders, then reinstate the grid.
- Close a hedged position at an overall +30 pips.
He was originally intended to be used OOTB apart from the lot size, but there has been a lot of interest shown by a handful of members. This resulted in some development and some inputs you need to understand, all within the "Grid inputs" section:
- SendIndividualGridsAtExtremes: tells GW to send replacement grids only above the highest buy/buystop order and below the lowest sell/sellstop order. Not sure how useful this will be. GW is attempting to avoid building up those positions where there are hundreds of market trades within only a few pips of each other.
- GlobalProfitTargetPips: close an unhedged position when the pips profit hits this target.
- DynamicTargetPerTradePips: calculates GlobalProfitTargetPips as market trades x DynamicTargetPerTradePips.
- The next two inputs calculate a global cash target in the same way.
Play with him folks. Let's see if this puppy has a decent tail to wag.
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
- 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
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