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 tells you there is, is either a liar or an idiot. This EA will need 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.
- How to use the Slope indi from Nanningbob's 10.2 system:- - first visit Jemook's thread at http://www.stevehopwoodforex.com/phpBB3 ... 562#p17562 Here you will find where to start reading about Nanninbob's 10.2 and learn to trade. Bob's stuff is the best thing to arrive during my time trading Forex. It is massive. Jem's thread will help you get started if this is new to you. I once stated that Recovery may well turn out to be Bob's lasting legacy to us retail Forex traders. I was wrong; this is actually going to be Slope, and it will have a part to play in everything we do from now on.
- - How to use EA's.
DO NOT USE THIS EA ON A LIVE TRADING ACCOUNT. IT IS EXPERIMENTAL.
Introduction
WBS has its genesis at http://www.stevehopwoodforex.com/phpBB3 ... 070#p19070 The User Guide in that thread describes the development of The Beast. It covers White Box trading and so describes what is going on here.
Some traders are only using The Beast for Slope-directed White Box Trading. WBS has all the counter-trend, Recovery and hedging stuff removed. WBS trades the cross of the relevant dotted white line - top if the market is trending up and bottom if trending down.
The inputs should be fairly obvious; I have removed the unwanted ones from Slopey Beast. The few new ones I leave you to work out for yourselves - they are all in the trade exit section. WBS does not use the volatility calculations for trade exit yet; I have left the code in place so that it is available when you guys come up with ideas.
Slope value and angle
Bob describes the angle of the Slope bars as shoing us a glimpse of the future - not in so many words, but that is the sense of what he says. If the angle is rising, the market will follow soon, and vice-versa. I have seen this happen time and again. Gary is talking about Slope direction as the main trade driver, rather than the value at http://www.stevehopwoodforex.com/phpBB3 ... f=37&t=724 Slopey Slope is an EA that can trade purely off the angle; it has made a great start on my demo. Find it at http://www.stevehopwoodforex.com/phpBB3 ... 985#p20985
WBT has two inputs to allow use of either Value, Angle or both: TradeSlopeValue; TradeSlopeAngle. TradeSlopeAngle is an experiment and appears to kill trading stone dead in backtesting, so we shall have to see if this is the reality or something that I have miscoded.
Slope
Guys, you really need to understand what the Slope indi tells you, so do not take this brief summary as The Definitive Statement. Basically, Slope tells us this:
- - >= 0.4: look to buy and take profit somewhere along the line.
- >= 0.8: look to buy and hold the trade, and add to the position as the market continues to rise.
- <= -0.4: look to sell and take profit somewhere along the line.
- <= -0.8: look to sell and hold the trade, and add to the position as the market continues to fall.
You do not need Slope on your chart or in your indi folder; Baluda sent me the code that brings the calculation 'in-house' a long time ago. Our thanks to Paul for that.
In conclusion
Usual conclusion. Let's see if this cat has a decent purr.
Matters of general interest
Read this post:
http://www.stevehopwoodforex.com/phpBB3 ... p=800#p800 Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration. There is a thread devoted to Sam's trading method at http://www.forexfactory.com/showthre...25#post5118825
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 ... p=803#p803, at the bottom of the post.
Useful utilities/EA's/scripts
Matt's chart-population script at http://www.stevehopwoodforex.com/phpBB3 ... 5733#p5733. Use this every time you start a fresh platform.
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 ... p=516#p516
Account equity analyser: http://www.forexfactory.com/showthread. ... ost4693716Also at 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 ... p=803#p803
