Slopey Round Numbers

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SteveHopwood
Owner
Posts: 9754
Joined: Tue Nov 15, 2011 8:43 am
Location: Misterton - an insignificant village in England. Very pleasant to live in.

Slopey Round Numbers

Post by SteveHopwood »

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.
    • The significance of round numbers in Forex trading.
    • Support and resistance.
I am not yet trading this EA on my live account. It is experimental.

I decided to re-visit round numbers and see if Slope can make a difference. This is how the ea trades:
  • when the market enters the box around the next round number, it draws pending buy and sell lines and trades when one of the lines is crossed:
    • BoxBufferPips tells the ea how big to make the box. The default draws the lines 5 pips above and below the round number.
    • DistanceFromLinePips is the number of pips away from the round number to draw the pending trade lines.
  • When one of the pending trade lines is crossed and the trade opened, the opposite-direction line is deleted.
You can further filter the trade by using Slope:
  • UseSlopeVal: if true, tells the srn to trade only when Slope defines the market as trending. The idea is to cut down on whipsaw.
    • Trades taken in the direction of the trend should be good for a fair few pips.
    • Those taken against the trend are the normal reversals that we see whenever the market hits a major S/R level.
    • The market is ranging when Slope is in between RangeHighLevel and RangeLowLevel. You have your own choice of timeframe for Slope; the default is D1.
  • UseSlopeAngle: if enabled, tells srn to trade only in the direction of the angle, which has to be either rising or falling to allow the trade. The bot still draws the opposite direction pending trade line, but it is dashed instead of solid. The dashed line tells srn not to trade its cross; it is there so the ea knows when to delete the pending trade lines in anticipation of move to a different round number.
Trade exit
There is the usual panoply of take profit, stop loss and management features. When StopLossPips is zero, the ea sets the stop at the box high (sell) or box low (buy).

Conclusion
All this is highly speculative and experimental, which is why I have not sent around a 'new toy' message. Play with it if you like the idea. I shall pop it on a few demo charts to see if it has anything to offer.

:D


Matters of general interest
Go here to download and run the script that will fill your platform's missing chart history: http://www.stevehopwoodforex.com/phpBB3 ... f=15&t=254
Read this post:
http://www.stevehopwoodforex.com/phpBB3 ... p?f=6&t=78 Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration.

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.stevehopwoodforex.com/phpBB3 ... ?f=15&t=79, at the bottom of the post.

Useful utilities/EA's/scripts
You do not have the required permissions to view the files attached to this post.
Read the effing manual, ok?

Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.

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 Thomas (tomele) for all the incredible work he does here.
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cuzgeorge
Trader
Posts: 674
Joined: Mon Mar 05, 2012 10:10 am
Location: Johannesburg, South Africa.

Re: Slopey Round Numbers

Post by cuzgeorge »

Hello Steve,
i have seen a need for round numbers in the passed. I will play with this one s settings in a few days. lets get some trades of this one and i'll gauge its new settings from those results.
thanks again and good luck to all,
cuz

Image
10.X, BMac,Xmeter,Marylin,and CaptsNakedTrading thread coupled with Slowkeys Intraday setup for manual trades.
http://www.stevehopwoodforex.com/phpBB3 ... f=36&t=848
User avatar
SteveHopwood
Owner
Posts: 9754
Joined: Tue Nov 15, 2011 8:43 am
Location: Misterton - an insignificant village in England. Very pleasant to live in.

Re: Slopey Round Numbers

Post by SteveHopwood »

cuzgeorge wrote:Hello Steve,
i have seen a need for round numbers in the passed. I will play with this one s settings in a few days. lets get some trades of this one and i'll gauge its new settings from those results.
thanks again and good luck to all,
cuz

Image
Don't give it too much tlc George. If it looks to have legs we can bring it to the attention of the Brains Trust. If not, no harm done to let it run on demo for a week or two.

Tell you what. I am running it with the default Slope range but no angle. How about you run it with no Slove value and use the angle instead?

Cheers
Read the effing manual, ok?

Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.

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 Thomas (tomele) for all the incredible work he does here.
User avatar
cuzgeorge
Trader
Posts: 674
Joined: Mon Mar 05, 2012 10:10 am
Location: Johannesburg, South Africa.

Re: Slopey Round Numbers

Post by cuzgeorge »

Great Steve, changes made,

I cant turn off the HTF slope so i'm leaving that at 1440 TF and changing the slope value to 0.2 and -0.2.
- angle is true, value is False.
All swaps and zeljko are false.
the rest is standard as per your release.
regards
cuz
10.X, BMac,Xmeter,Marylin,and CaptsNakedTrading thread coupled with Slowkeys Intraday setup for manual trades.
http://www.stevehopwoodforex.com/phpBB3 ... f=36&t=848
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Simonik
Posts: 2
Joined: Sun Nov 27, 2011 6:49 am
Location: Romania

Re: Slopey Round Numbers

Post by Simonik »

round numbers :D... my first love:)))
something is not working...no new trades :(
Look like a girl, act like a lady, think like a man,and work like a dog.
User avatar
cuzgeorge
Trader
Posts: 674
Joined: Mon Mar 05, 2012 10:10 am
Location: Johannesburg, South Africa.

Re: Slopey Round Numbers

Post by cuzgeorge »

Hi Simonok,
its definately trading on my side, i'm trying what steve suggested above, let me know if you would like a set file. I'm not getting a great deal of trades, but it is trading. Also, check your expert and journal tabs that you are'nt getting any errors first.
regards
cuz
10.X, BMac,Xmeter,Marylin,and CaptsNakedTrading thread coupled with Slowkeys Intraday setup for manual trades.
http://www.stevehopwoodforex.com/phpBB3 ... f=36&t=848
User avatar
cuzgeorge
Trader
Posts: 674
Joined: Mon Mar 05, 2012 10:10 am
Location: Johannesburg, South Africa.

Re: Slopey Round Numbers

Post by cuzgeorge »

Hi Steve, all,
here s what i got this evening, about a rogue trade, and my results for the settings discussed in a previous post here for approx week period. There are no open positions currently.
Should i reset or would you like me to check anything for you?

cuz
You do not have the required permissions to view the files attached to this post.
10.X, BMac,Xmeter,Marylin,and CaptsNakedTrading thread coupled with Slowkeys Intraday setup for manual trades.
http://www.stevehopwoodforex.com/phpBB3 ... f=36&t=848
User avatar
cuzgeorge
Trader
Posts: 674
Joined: Mon Mar 05, 2012 10:10 am
Location: Johannesburg, South Africa.

Re: Slopey Round Numbers

Post by cuzgeorge »

Hi STeve, same thing has happened to GBPUSD, so i got only two charts still trading.
will wait and see what happens unless you want me to restart. Keeping charts as they are incase theres something i can look up for you that from a coders point-of-view.
regards
cuz
10.X, BMac,Xmeter,Marylin,and CaptsNakedTrading thread coupled with Slowkeys Intraday setup for manual trades.
http://www.stevehopwoodforex.com/phpBB3 ... f=36&t=848
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