- 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 a set-and-forget ea. Whether it will be profitable is another matter. Don't blame the mechanic if the strategy it trades is rubbish.
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.
I received this in a pm from dsugums at FF today (yes, I do pay the occasional visit even now):
Hi Steve
Hope you can help me with a new EA based trading system. It is a simple system but I am a dummy in programming. I did this method manually in forward testing and seems profitable without any losses. This is a strat that never loose unless you close the trade prematurely. Even then, you only loose the spreads, nothing more. Here is the strat:
1) Open EU (sell), UCHF (sell) and ECHF (buy) simultenously 1 lot anytime of the day. No specific time needed.
2) No stop loss needed because the pairs are hedged one another. When opened, the losses are the spreads only.
3) TP is 6pips only. Once the 6pips is reached, closed the trades and open one more set of trades at (1). Keep continuoing until infinity
4) Best part, we won't loose any trades unless we close it.
5) This method is based on hedging divergence. We will get 2-4 times trades per day which is equivalent to 24pips without any losses.
6) this strat cannot be backtested!
Hope you can help me out
Thanks
DS
So, the attached trades partly as as dsugums asked. I have added a refinement that ds subsequently asked for in a further pm, in that there are inputs for three trade pairs and associated types (0 = Buy, 1 = Sell) so that you inveterate tinkerers can play with different combinations to your hearts content. Also note Stacking and Scoobs Rsi filter.
Anything pip related is automatically converted to x digit bastard criminal points where necessary. Any pair suffix is automatically catered for, so no need to enter them into your inputs - in fact doing so will raise trading errors.
Bung the ea onto a chart showing any of the three pairs you are trading - tf does not matter - then sit back to watch. Experiment with different combos on the same account by changing the magic number.
For those of you unfamiliar with his work, dsugums is one of the more respected contributors at FF - respected by anyone with a firing brain cell, at least. This probably means FF are about to ban him.
Those of you unfamiliar with FF, you are not missing anything. Stacking
'Stacking' means entering new trades in the direction of established, successful ones. It struck me that we might try waiting for pairs to move into profit by x pips, then take a second trade in that direction.
StackPipsDistance is the input that controls the pips the trade has to be in profit before the bot sends a new trade.
No idea whether this will work or not, but I can say this with certainty: it appears from comments later in this thread that a system like the one posited can only succeed when the trader has access to equipment that works at lightening speed. Empty4 is well nicknamed and is incapable of any movement quicker that that made by an arthritic snail. The only chance this strategy has of succeeding for the rest of us is to adapt it.
Scoobs' Rsi filter
Scoobs wrote this: "A better way but still not fool proof would be the following:
if EURCHF oversold = BUY EURCHF, SELL EURUSD, SELL USDCHF
if EURCHF overbought = SELL EURCHF, BUY EURUSD, BUY USDCHF
Scoobs"
I have added the Rsi filter. Leaving RsiPeriod set to its default of 0 turns this off. If you select a period, then the bot will only trade when TradePair1's Rsi is ob or os, and will send the trades in the direction this indicates.
The F7 key
Having a multi-pair trader on only one chart in the basket means that calculations are only performed when that chart receives a tick - not helpful if one of the other pairs is going stratospheric as a result of, say, a CBI event. To overcome this, the EA goes into an endless loop once it receives its first quote. This loop occurs every half-second, ensuring that the calculations are as near up to date as possible. It also makes the F7 key unavailable; no idea why, but as I indicate elsewhere this is an advantage to unwary users.
Trading hours
If you decide not to allow 24 hour trading by changing the default inputs, the EA will continue to treat an open basket as though trading hours are set for 24 hour trading. So, if you have a basket open past your trading end hour, the bot will add stack trades etc until the basket hits its take profit, regardless of these settings.
In conclusion
Let's see how much tail-wagging this puppy can do. Have fun. It looks like fun. Here is a major-league thought; if the EA really never loses without blowing the account, we can trade high enough lot sizes to accept the occasional 6 pip profit and end up rich. We shall see.
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. viewtopic.php?f=5&t=15
