- 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. You will probably want to monitor the basket and take action independently of the EA.
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.
Brian's thread at http://www.stevehopwoodforex.com/phpBB3 ... 5696#p5696
- How to use EA's.
This EA automates my understanding of Brian's Pitbull trading method, as simplified for me by Mobthehop. Please correct any misunderstanding:
- - at x time of day, take a basket of buy and sell trades based on Brian's Pitbull indicator, at the tiniest lot size available.
- After a while, one of the trades will move strongly into profit. Close that trade and take out a further trade on that chart, and in the direction the trade was profitable.
- rinse and repeat
The EA offers editable pairs taken from TIG's indi at http://www.stevehopwoodforex.com/phpBB3 ... 7224#p7224 No need to add pair suffixes - Pb does this for you. Also, we do not need buy and sell pairs as ours is a virtual basket rather than a real one, so I have amalgamated both into one input.
AbsoluteTime and RelativeMode work as they do in George's indi. This EA calculates profits in the virtual basket differently, in that it calculates the virtual profit in pips rather than cash.
The virtual basket works by calculating the profit/loss based on buys taken at your specified measuring time. For trading based on these, there are options to buy the two biggest winners and sell the two biggest losers. By default, these are all enabled (TradeStrongestPair etc).
The EA looks for trades at the start of each candle chosen in TradingTimeFrame.
You can turn off the display of the virtual basket by setting ShowAllOnChart to false.
TradeThreshold allows you to set a minimum movement before Pb will send an individual trade.
The StopLoss and TakeProfit inputs are applied to individual trades should you choose to do so. At the mo, there is no maximum no of trades, so Pb will take them as a pair becomes one of the biggest winners/ biggest losers.
CashTakeProfit is the basket profit at which you want the basket closing.
Let's put down a bowl of food for this puppy and see how big it grows.
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
When starting a new platform, remember to run Matt's script at http://www.stevehopwoodforex.com/phpBB3 ... 5733#p5733 to ensure your historical data is up to date.
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