- 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 - especially the HGBnD family. Remember to download hgi_lib.ex4 from Bob's thread at http://www.stevehopwoodforex.com/phpBB3 ... =88&t=3964. It can go into either your Libraries or Experts folder.
- The buy-low-sell-high concept.
I am going to call this one Peaky for short. You need to download two libraries because she will not run without them:
- hgi_lib.ex4 from Bob's post 1 at http://www.stevehopwoodforex.com/phpBB3 ... =88&t=3964. You can put it in either your Experts or Libraries folder.
- HGBnD core library.mqh from http://www.stevehopwoodforex.com/phpBB3 ... =87&t=5077. This must go in your Include folder.
Peaky uses Sixths to create two trading areas: the buy area is below the lowest dotted yellow line; the sell area is above the highest dotted yellow line. The dashed line is a buffer placed PeakBufferPips from the two solid yellow lines.
Taking a W formation as an example Peaky:
- identifies where the market entered the trading zone.
- tracks the market down until a candle low touches/passes peak low:
- this is the first leg of the W, so peaky draws in the line.
- the second leg of the W is complete when a candle closes above the buffer line.
- the third leg is complete when the market retraces and a candle closes below the buffer line.
- the W formation is complete when the market rises again and a candle closes above the buffer line again.
- the sell stop grid will start DistanceBetweenTradesPips below the solid peak low line.
- Peaky can also send limit orders starting at the same price. The input is SendLimitOrders
The default inputs are pure guesswork and are the ones I shall start with on the H1. I suggest members try different combinations so we can see what works.
Have fun folks.
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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