- 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. Remember to set CriminalIsECN to 'true' if your crim insists on two-stage order sending.
- Bob's 10.3 trading.
This EA automates this idea by Jules at http://www.stevehopwoodforex.com/phpBB3 ... =12&t=1361. Have a quick read - it is simplicity itself.
I have included all the usual features. Watch the default trading times as they are set for me here in the UK. Your start time should be the D1 candle open time at the time shown on the clock on the wall.
There are two methods of trade entry:
- A cross of the Daily Open price in the relevant direction. TradeTheDailyOpen is the input that controls this.
- A cross of the previous D1 candle's high or low in the relevant direction. TradeThePreviousHiLo is the input that controls this.
VolatilityTpPercent and VolatilitySlPercent (take profit and stop loss) are the inputs you use to calculate tp/sl based on the pair's volatility. I have used ATR to calculate the volatility.
Slope is in the mix as well, so check the defaults suit you. Disable it by setting the time frame inputs to zero.
The EA does not send a pending trade. Instead, it fires the trade when the market crosses the Daily Open line.
Let's see if this Kangaroo can get up a decent speed.
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
- 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 ... ?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