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.
- How to tell the time
- Stochastic and MACD do help, although you can always go with the flow until they make sense.
- - How to use EA's.
Introduction and conclusion
I think I have explained everything in the pdf. The pdf contains my understanding of Paulus' system. I also attach the .odt document (Open Office Text - download for free if you merely Google 'Open Office') in case I have misunderstood anything and anyone here can improve the document.
Don't bother reading the thread, guys; just read the pdf. It explains everything with a reasonable degree of clarity, then skip to the end of the thread to catch up with anything new.
Have fun. Let's see if this Alligator has a decent set of teeth.
Subsequent edits
Manually replacing the yellow line
Should you wish to do this whilst experimenting on demo:
- - draw a horizontal line at the price level you want.
- double-click the line to 'select' it, right click and select 'Horizontal line properties' then the 'Common' tab.
- rename the line with the text in your LowLineName input, by default "European low line."
This is a second version of the EA that relies on Slope and abandons the yellow line. Details at
http://www.stevehopwoodforex.com/phpBB3 ... 299#p24299
Matters of general interest
Read this post:
http://www.forexfactory.com/showthread. ... ost4923611 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.forexfactory.com/showthread. ... ost4431794, at the bottom of the post.
Useful utilities/EA's/scripts
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.forexfactory.com/showthread.php?t=89371
Account equity analyser: http://www.forexfactory.com/showthre...16#post4693716 Also 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?f=5&t=15