- 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. This EA will need manual intervention when NoOfTrades buys and sells are open, and the only recourse from there is to manage the basket manually.
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.
Moving Averages.
Stochastic.
Trend trading and retracement.
- How to use EA's.
Ehup all
I was mooching around earlier and came across this posted by Astral: http://www.stevehopwoodforex.com/phpBB3 ... 8927#p8927
I thought we could give an EA a try - the system is pretty simple and lends itself to automation.
The EA looks for trades at the opening of each new candle, so the Stochastic cross from OB/OS takes place at the close of the previous candle. The Moving Averages and Stochastic inputs are fully configurable.
I have used the Fractals indi to find the previous swing high/low for the stop loss. Use RiskRewardRatio to multiply the distance between the stop loss and the order open price; the default creates a 1:3 RR ratio as recommended by James Chan.
All the usual stuff is in with the bot - Hanover, CBI etc. Read the attached Shell user guide for details if you are unfamiliar with these. Ignore inputs mentioned in the guide that you do not see in the EA.
In conclusion
I have no idea if this has any legs. There are a multitude of combinations of inputs, so play to your hearts content and see if you can make DP work for you.
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