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.
Here is the PM that led to me coding this:
TCR trades thus:Hello Steve,
:hi:
you coded an EA on Forexfactory some years back called The Captain: an always-in auto-trader https://www.forexfactory.com/showthread.php?t=292421
EA opens a new trade on every new candle.
Can this be modified, in such a way that only first entry will be on a new candle, but consequent entries will be based on just price.
For example if i set price as 20 and i set a reversal as 15. so everytime price moves up 20 pips in same direction it will open a buy trade. it will open buy trade every 20 pips and open a sell trade (While closing all buy trades) only when the price reverses 15 pips.
So the logic is same as The Captain: an always-in auto-trader but instead of opening on every candle, opening it based on price we set
- On start up or resuming after a break and if there are no trades already open, waits for the open of a new candle then:
- Sends a buy trade if the previous candle rose.
- Sends a sell trade if the previous candle fell.
- Waits for another candle if the previous one was flat.
- Suppose the first trade is a buy. TCR:
- Sends an additional buy every time the market moves up by DistanceToOpenPips, up to a maximum of MaxTradesAllowed.
- Closes all the buy trades when the market falls by DistanceToClosePips and sends a sell trade.
- Sends an additional sell every DistanceToOpenPips, up to a maximum of MaxTradesAllowed.
- Closes all the sell trades when the market rises by DistanceToClosePips and sends a buy trade.
This will be great in a strongly moving market. It will be murdered by chop.
All we can do is have a play with it and see if it has a future. It might be that it will benefit from starting in the direction of SS, HGI or Bob's moving average. It might be worthwhile sending a hedge then closing the hedge after sufficient movement. I do not know yet.
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
- http://www.stevehopwoodforex.com/phpBB3 ... =21&t=5190
- 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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