- 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:
- trader101's basket trading. Read about the method at http://www.forexfactory.com/showthread.php?t=107119
- NB V10's trend-detection filter. Read about it at http://www.forexfactory.com/showthread.php?t=308304
- How the BigBob auto-trading EA trades NB V10. Read about this at http://www.forexfactory.com/showthread.php?t=309980
DO NOT TRADE THIS EA LIVE. IT IS EXPERIMENTAL. Also, take the stuff you have to understand seriously and do the required reading. If you are not prepared to do so, then go away and do not return.
Introduction
We are indebted to Telac for this. Telac contacted me last week to investigate the possibility of combining NB V10 with T101 offline charts. I am not much interested in offline charts for now, but Telac gave me an idea.
What if we:
- use Bob's V10 trend detection to trigger trades from t101's basket, only in the direction specified by t101?
- treated all the trades as a basket?
My manual trading has already shown the potential benefit of point 2, so I think this is worthwhile investigating.
So, this multi-trader attempts to trade a basket t101 pairs only in the direction he specifies, whenever the pair is trending in the correct direction. It will close the entire basket when the upl hits your specified profit target. This is calculated by multiplying your ProfitPerPair input (this is a cash profit) by the number of open trades. I suggest you work out roughly the profit your lot size will generate at, say, 100 pips and use this as your input as a starting point.
In conclusion
It will be a minor miracle if there are no bugs.
This bot will either succeed quickly or it will crash and burn. t101's 'balance' will only come into play when there are a number of trades open. The BwNB will only take trades when: 1) the trend is in place and; 2) we are at the start of the trend (as in BB's OnlyTradeStartOfTrend input) so it will not be a trading tart. Unbalanced trading is likely.
Bung it on a demo and see what happens; it will not use a lot of processor power.
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.
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.
- 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
This is not a thread for beginners. 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.