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.
-the Fractals indi that ships with Empty4.
- 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
Here is yet another experiment in using Slope to show the overall trend and using one of the other usual suspects to trigger the trade - in this case the Fractals indi.
Trade entry long is when Slope indicates an uptrend and there was a Fractal low 3 candles ago; vice versa for a short. The EA is entirely independent of the chart timeframe, so watch your FractalsTimeFrame input.
Trade exit is pretty unsophisticated. Play around with the different permutations of tp/sl/mptm-style management etc and see if there is anyhing useful here.
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 gerbil can make its wheel go around.
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
How is it today ?