- 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 principles of Basket Trading.
DO NOT USE THIS EA ON A LIVE ACCOUNT. IT IS EXPERIMENTAL.
Read this thread: http://www.forexfactory.com/showthread.php?t=314701. You must have ESTrader_IA_Don_071911.ex4 running on the same chart that you are running the EA; also make sure your indi colour choices are the same as those in the EA. ES works by reading the value of the labels created by the indi. Shut down your platform, download the indi, EA and template and restart the platform. Drag the template onto any chart you fancy and everything should be set up for you.
I was attracted to the thread because of EA Trader's track record with basket trading.
ES will send a basket of trades when:
- 'Buys Profit' and 'Sells Profit' are both positive - buy the buy pairs and sell the sell pairs. I know this function works.
- 'Buys Profit' and 'Sells Profit' are both negative - sell the buy pairs and buy the sell pairs. This function remains to be tested.
ES will close the basket when the upl reaches your cash target in ProfitTarget. He will then sleep for the period you have input into SleepMinsAfterBasketClosure - defaults to an hour.
Stop loss is a change of the Buys/Sells profits labels to mixed signals. You can turn this off by setting UseMixedSignals to false. There is no post-close sleep period.
After the first tick, ES goes into an endless loop; the only way to shut him down is to remove him from the chart.
He is a bit rough-and-ready at the mo; we can add sophistication if he proves to have legs.
Have fun.
Matters of general interest
Read this post:
http://www.forexfactory.com/showthre...11#post4923611 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/showthre...79#post4977179
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/showthre...98#post4709098, 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/showthre...10#post3830610
- My shell EA – the code I use to produce EA's so quickly. http://www.forexfactory.com/showthre...94#post4431794
Most promising trading EA's
- BigBob: an implementation of Nanningbob V10. http://www.forexfactory.com/showthread.php?t=309980. The strategy is fantastic and I am having a ball trading it manually. The EA is the most promising I have coded so far.
- Aurora, a PwR-based EU scalper at http://www.forexfactory.com/showthread.php?t=312936 has made a brilliant start.
- Trendy: http://www.forexfactory.com/showthre...82#post4840182, but should be left behind by BigBob.
- Reversi: http://www.forexfactory.com/showthread.php?t=294255 – I have traded this live.
- Rip: http://www.forexfactory.com/showthre...98#post4777998
- The Beast: http://www.forexfactory.com/showthre...=1#post4135863
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Posting restrictions
I have restricted the ability to post in this thread to: traders with at least 1 voucher; and traders on my 'buddy' list. I have done this because I do not want the thread cluttered with 'newbie' questions about the basics. New/inexperienced traders, this is not intended as a direct insult. What I want here is discussion with traders who fully understand what it is they are doing; when you newbs have been around a while, you will come to understand what a difference experience makes to the posts a member writes and shudder at the recollection of some of the questions you asked. I do. http://cdn.forexfactory.com/images/s..._the_floor.gif Go to your profile page; there is a link to the FF page that describes the voucher process.
Do not attempt to get around this by sending me pm's asking for help with your basic problems. Doing so will earn you an automatic ban from all of my threads.
I have set up a partner to my restricted threads at http://www.forexfactory.com/showthre...66#post3948666
There, you can post the questions that you cannot post here, about anything you need to know. Someone with the knowledge and experience you need will answer.
Traders/coders with experience who have not yet been vouched for, can get around this restriction be being added to my 'buddy' list; all you have to do is pm me to ask me to do this.