- 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 tells you there is, is either a liar or an idiot.
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.
Shelly's digest of James16's methods. Read Shelly's posts at http://www.stevehopwoodforex.com/phpBB3 ... 8326#p8326
- How to use EA's.
Ehup all
James16's thread is one of the oldest at Forex Factory. Started in about 2005, it is still going strong. Shelley is ploughing her way through it in the hope of being able to provide synopses that I can automate.
Automated strategies
I have automated tow of the trading methods:
- 1) the Bullish/Bearish Outside Vertical Bar engulfing thingy described at http://www.stevehopwoodforex.com/phpBB3 ... 8355#p8355
2) The Two Matching High/Low strategy outlined at http://www.stevehopwoodforex.com/phpBB3 ... 8367#p8367 Bear in mind that there could well be bugs here as the code is not yet tested
3) Double bar high/low/close strategy outlined at http://www.stevehopwoodforex.com/phpBB3 ... 8354#p8354 Bear in mind that there could well be bugs here as the code is not yet fully tested
As I add new trading strategies to the EA, each fresh block will have the same input names with a prefix that is the initials for the method - hence all those Bovb.TakeProfit etc inputs. Each block will also start with a link to the post in which Shelley publishes her summary.
xxx.AtrPeriod allows you to use Atr to calculate stop losses and take profits. Disable this by setting the value to zero.
xxx.RsiPeriod allows you to use the Rsi to determine an overall trend direction. This little masterpiece was provided by scooby-doo a couple of years ago. Scoobs is a rich, retired former pro trader who gave us this gem:
- Take a 20 period, D1 Rsi:
- Rsi > 55: trend is long
Rsi < 45: trend is short
Rsi is in between these values: market is ranging
- Rsi > 55: trend is long
xxx.Trade turns the individual trading method on or off.
xxx.TimeFrame allows you to specify the trading time frame. The default of 0 means, 'current chart', but some methods may be better suited to different time frames, so these inputs will allow you to be specific.
I have abandoned all attempts to hide from the crims the fact that we are trading using an EA here. We are going to end up with an EA that trades a wide range of systems on the same chart, so James has to know which one is which. Each system will have its own magic number and trade comment.
General inputs:
- CriminalIsECN=false; set this to true if your crim insists on the two-stage order thingy. J automatically detects Cowboy IBFX.
CriminalAllowsHedging=true; In case it is possible for one system to generate a buy, whilst a different one generates a sell. Set this to false, if your crim does not allow this. Then find another crim.
MaxSpread=120; this will need to be set on a pair-by-pair basis. If the spread exceeds this figure, the bot will not trade.
SendAlertNotTrade=false; for the manual traders wanting to use the EA to generate warnings that the conditions appear to be met for trading, but who want the final say over when to pull the trigger. If true, this tells J to send an Alert rather than take the trade.
Email=false; for the manuals again. This will send an email if your platform is set up for this.
I am in no hurry to add further trading methods at this stage. Once the existing code is watertight, then adding them will be simple. For now, let's concentrate on debugging.
Note to coders
I have given a lot of thought to the code structure. I wanted to create a structure that allows strategies to be added easily, with just a few copy/paste amendments. Here is how to add new strategies:
- - add an extern input block. Copy the existing Bovp.xxxxx block, then change the Bovp bit to reflect the new strategy e.g. TM (Two Matching ....).
- initialise any variables that need this in int init() - candle bars etc
- add code to ReadIndicatorValues() to read Rsi etc
- update DisplayUserFeedback to show the trigger details.
- update CountOpenTrades() to reflect the added trigger.
- add a xxxTrading() where 'xxx' is the relevant trigger e.g. void BovbTrading()
- add a call to the new trading function to void TradingOpportunitiesModule()
No idea where all this is heading. Let's 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
Matt's chart-population script at http://www.stevehopwoodforex.com/phpBB3 ... 5733#p5733. Use this every time you start a fresh platform.
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/showthread. ... ost4693716 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