Prakash's Martingaled Hanover

Prakash's Martingaled Hanover

Postby SteveHopwood » Thu Nov 17, 2011 5:05 pm

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.


DO NOT USE THIS EA ON A LIVE ACCOUNT. IT IS EXPERIMENTAL.

Hanover
The Hanover module allows us to trade in the direction indicated by hanover's Recent Strength indi. I consider this to be the most significant development in my time at FF. Details in the Hanover thread at http://www.forexfactory.com/showthread.php?t=319709 If you use Hanover, I recommend lawgirl's ratio of 1:4 to 1:6 between your trading and higher-direction time frames. For example, if trading the M5 chart, use M30 as your Hanover time frame.

Prakash posted his ideas here at viewtopic.php?p=197#p197
I have coded the Martingale bit of his post. The hedging I shall leave until people can confirm that is necessaryl

EA inputs
You will find descriptions of many of the inputs in the attached Shell User Guide. I wrote it for issue with bots I code in the future. Where you see inputs described that you do not see in the EA's inputs list, ignore them.

The Martingale inputs:
    MartingaleLotMultiplier is the lot size multiplier. Lots go 0.01, 0.02, 0.04, 0.08 and so on
    MaxLotsAllowed limits the lot size that the M sequence reaches. After that, it returns to the start of the sequence.
    PointsLossToTriggerTrade is the number of pips for each trade to go down the tube before it triggers a trade.
    CurrencyTakeProfit is your cash take profit figure. It only kicks in when the Martigale sequence is at more than one open trade. On the grounds that a 1.28 trade movement is worth much more than is a 0.02 movement, this input might also want a take profit multiplier based on the number of open trades. We shall see.



In conclusion
Have fun. Have a play. If this looks like having legs, it can go in the zip in the Hanover EA thread.

:D

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/showthre...94#post4431794, 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

Most promising trading EA's
jiva: viewtopic.php?f=5&t=3
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Read the effing manual, ok?

Global Prime is the official SHF broker. Click here to sign up for a live account with Global Prime and join the several thousand SHF members who wisely choose GP as their broker of choice.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Tommaso (milanese) for all the incredible work he does here.
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Re: Prakash's Martingaled Hanover

Postby bobasker » Thu Nov 17, 2011 10:31 pm

Cheers Steve, will start a fresh test next week.
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Re: Prakash's Martingaled Hanover

Postby Bubba » Thu Nov 17, 2011 10:43 pm

Thank's Steve. It's like Christmas every week with the rate at which you deliver toys.

Bubba
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Re: Prakash's Martingaled Hanover

Postby nubchai » Thu Nov 17, 2011 11:25 pm

Neat. WIll load it up for next week. Thanks Steve.

Sandy
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Re: Prakash's Martingaled Hanover

Postby tex » Fri Nov 18, 2011 2:42 pm

Steve,

theres a big bug in the recent EA .

When a signal occurs, the EA keeps opening trades instead of opening just one. See attached Screenshot
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Re: Prakash's Martingaled Hanover

Postby tex » Fri Nov 18, 2011 2:44 pm

Uuuh wow i see theres something wrong with the forum when a screenshot is attached :D sorry for this
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Re: Prakash's Martingaled Hanover

Postby prakash.jj » Fri Nov 18, 2011 4:55 pm

Thanks a lot for the EA Steve. Will start running this on my demo from monday.

Regards,
Prakash
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Re: Prakash's Martingaled Hanover

Postby shadow3131 » Fri Nov 18, 2011 7:47 pm

Will start testing several instance of this EA on my VPS. Will keep you all posted on results. I have had great success with the original Hanover EA and believe the martingale strategy may be profitable also.

Thanks Steve
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Re: Prakash's Martingaled Hanover

Postby SteveHopwood » Sun Nov 20, 2011 12:46 am

tex wrote:Uuuh wow i see theres something wrong with the forum when a screenshot is attached :D sorry for this

:lol:
Read the effing manual, ok?

Global Prime is the official SHF broker. Click here to sign up for a live account with Global Prime and join the several thousand SHF members who wisely choose GP as their broker of choice.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Tommaso (milanese) for all the incredible work he does here.
User avatar
SteveHopwood
 
Posts: 9318
Joined: Tue Nov 15, 2011 8:43 am
Location: Misterton - an insignificant village in England. Very pleasant to live in.

Re: Prakash's Martingaled Hanover

Postby SteveHopwood » Sun Nov 20, 2011 12:49 am

prakash.jj wrote:Thanks a lot for the EA Steve. Will start running this on my demo from monday.

Regards,
Prakash

Have fun. In theory, M should be safer when using RS to guide our trade direction. We shall see.

:D
Read the effing manual, ok?

Global Prime is the official SHF broker. Click here to sign up for a live account with Global Prime and join the several thousand SHF members who wisely choose GP as their broker of choice.

I still suffer from OCCD. Good thing, really.

Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.

To see The Weekly Roundup of stuff you guys might have missed Click here

My special thanks to Tommaso (milanese) for all the incredible work he does here.
User avatar
SteveHopwood
 
Posts: 9318
Joined: Tue Nov 15, 2011 8:43 am
Location: Misterton - an insignificant village in England. Very pleasant to live in.

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