[SteveHopwood]

This thread follows on from Kang Gun's Relative Strength Basket Trading System at http://www.forexfactory.com/showthread.php?t=123284. New readers please visit this thread and read it through attentively. It is a long read, and probably a hard one; absorbing what is there will be to your long-term benefit.

I say these things to new readers:

• Do not try to use the EA's posted here until you have learned the underlying systems from KG's thread, and have traded them manually. These are not 'EA for dummies' robots. Follow these steps:
  • Read sundog's summary of the trading methods attached as 'KG Relative Strength trading methods - a brief summary.pdf'. This will give you a sketchy understanding of what is going on when you start to read the thread. Bear in mind that sundog wrote the doc early on in the development of this thread. It proved subsequently that KG Range trading has the most legs, and is the source of my an others' trading success.
  • Follow the link above to KG's original thread and read it. Take your time; development of this EA continues and will do so for some time. It is not going away. When reading the thread, pay particular to pictures of charts; these are particularly useful. You will quickly learn who makes the most useful contributions and be able to filter out the 'noise' that inevitably litters such threads.
  • As you come to understand each method, trade it manually as well as setting up the relevant EA. You will come to understand how the EA's work so much more easily than if you try to use them straight away.
• Do not ask me questions the answers to which are to be found either in KG's thread or the EA user guides. I shall ignore them.

THESE ROBOTS WILL KILL YOUR ACCOUNT QUICKER THAN YOU CAN BLINK IF YOU DO NOT KNOW WHAT YOU ARE DOING. GO AWAY NOW, AND DO NOT RETURN IF YOU ARE NOT PREPARED FOR A LOT OF PATIENT HARD WORK.

Ignore everything I have just written if you want; you will be sorry.



___________________________________ _________________________
I have deleted a lot of what I posted from Nov 2008, for readability. Sorry if this makes some of the thread appear slightly strange.

Updates:

17th June 2009
There is an important new input. From the updated user guide:

• OneBasketPerTriggerOnly: this has been forced on me by those super-crooked brokers who no longer allow hedging. It stops the robot from trying to open an opposite direction basket to one already opened, and being left with just a single trade because of the no-hedging rules.

If your broker is not one of the NFA affiliated crooks and still allows hedging, then you do not need this update.


28th June 2009
I decided on a whim to add an auto-calculator for lot sizes to the Range robot. From the user guide:

• RobotCalulatesLotSize: when set to true, the robot will calculate the lot size using this formula: (Account balance / CurrencyUnit) * LotsPerCurrencyUnit. It checks that the result is acceptable to the criminal and adjusts to the minimummaximum as necessary. The defaults reflect my IBFX mini account settings and are set at 0.01( LotsPerCurrencyUnit) per $100 (CurrencyUnit) of the account balance. These are my recommendations:
  • Criminal allows nano-lots i.e. 1 cent per pip:
    • 0.01 lots per $100.
  • Criminal allows micro-lots i.e. 10 cents per pip:
    • 0.01 lots per $1000.

Included in the zip is V2. This uses tp and sl inputs in pips rather than dollars. Allied with the auto lot size calculator, this pretty much automates increasing the trade size as the account balance increases. Use this on demo only, until we are sure there are no bugs in the code.

4th July 2009
I found I missed the upl display for the open baskets, so I have added that to the pips profit/loss display.

More significantly, there is a new input in the General Inputs section. From the user guide:

• MaxBasketsAllowed: The robot calculates the number of baskets already open and will not open a fresh one if this is equal to MaxBasketsAllowed. This is probably a more useful way of limiting trades than the MaxTradesAllowed input. The default of 4 is purely for my own use; you should decide for yourself how many baskets you are happy to have open at any one time.

The NFA assault on retail traders will eventually make trading in any substantial volume impossible. I have already opened my Alpari UK account; it is awaiting a funds transfer so that I can let this robot loose on it.

When that happens, I shall set the IBFX MaxBasketsAllowed to 1 and forget about it, save for a daily check. I shall close the account when the NFA eventually rule that traders can only have one trade open at any one time. This may sound far-fetched, but their ideas mark them out as criminal lunatics capable of anything.

16th July 2009
I have added an important new input to both robots, for those of you still using a US criminal - CriminalIsUS; find it in the General EA Settings section. From the user guide:

• CriminalIsUS: set this to true if your account is held by a US criminal. The Range robot will not consider as part of the basket, any trade that would be disallowed by the no-hedging rule; ditto any trade by either robot that would cause chaos because of FIFO.

9th September 2009
DC 2.9 is attached. This has error-trapping code added to the Jumping Stop routine to allow me to work out why it is not working properly for some people. If you have experienced no problems with 2.8, then you do not need 2.9

Range and Original trader, V2: added the PairSuffix display to the user-feedback. It shows up inside square braces, so [m] or [] are the ones you are looking for. [ ] means the input contains a space, which needs removing.

28th October 2009
Added the choice of auto-calculating lot sizes from either equity or balance. The two inputs should be self explanatory - UseBalance (default) and UseEquity.

19th Nov 2009
Range bot V3 now has the basket take profit calculated by the formula BaseLot * TpMultiplicationFactor. I don't have time to update the user guide with the latest changes. Those of you unsure what all this means, start reading scooby-doo's postings from here:
http://www.forexfactory.com/showpost...&postcount=927
All will be explained.

[sahars]

Originally Posted by SteveHopwood

This thread follows on from Kang Gun's Relative Strength Basket Trading System at http://www.forexfactory.com/showthread.php?t=123284. New readers please visit this thread and read it through attentively. It is a long read, and probably a hard one; absorbing what is there will be to your long-term benefit.

I say these things to new readers:[list][*]Do not try to use the EA's posted here until you have learned the underlying systems from KG's thread, and have traded them manually. These are not 'EA for dummies' robots.[*]Do not...

Well Done Steve..!!

Thanks

Sahars

[Kang_Gun]

I'm here Steve, already bookmarks this thread and ready for rock'n roll

KG

[FerruFx]

Great initiative Steve. Thanks.

FerruFx

[misterpipster]

Great job Steve. Thanks.

Misterpipster

[JimmyPants]

Checking in here. Hello to the regulars and welcome to the new people.

[sundog]

Checking in ...(tap.tap.tap) does this mic work?

[sundog]

Sorry, Taazman posted re Matrixebiz's EA, and SL.

Im not using them and yes the DD can be very scary. Money Mangement is up to you of course, but i've found that in the past month they've always come back and hit the target.

What I am doing now, if I have a couple of open trades going the wrong way, I stop the EA from trading until the open trades are closed. May take a day or so.

Hope this helps.

[sahars]

Steve,

The EA had an alert for AUDNZD, but after waiting for sometimes, the EA still not execute the order. Why...ah..!!?

sahars.

[tazmaan]

Thanks for the reply sundog.
Here is the snapshot of what my account looks like right now. I just wanted to be sure this was typical of this method. It's building up profit while it sits at this open loss, as the account was started sunday night with 5000. Obviously if I closed it all down right now I would lose money, so i'll let it go and see what happens.
Does it get this bad on the 4hr timeframe?

[sahars]

Originally Posted by tazmaan

Thanks for the reply sundog.
Here is the snapshot of what my account looks like right now. I just wanted to be sure this was typical of this method. It's building up profit while it sits at this open loss, as the account was started sunday night with 5000. Obviously if I closed it all down right now I would lose money, so i'll let it go and see what happens.
Does it get this bad on the 4hr timeframe?

Tazmaan,

First you have to open a demo account with the amount of money that you will start when opening real account. 2nd, put a lot propotion to your equity i.e. if your equity is $100.. the lots shall be 0.01 (IBFX) or 0.001(for others). If $1000, the lots shall be 0.1 (IBFX) or 0.01(others).

3rd, the EA is recommended start it on Monday on Asian session. Normally, within 1 week the EA will produce high pips and as well as DD. In my case the maximum DD that I faced is around -$35 (1000 pips with 0.03 lots) and after that the DD up and down. On that time your profit normally is exceeding your DD. Just let it run, and soon or later the lost will be reduced and you'll gain.

As Sundog mentioned, money management is playing a big roll in this type of trade.

Cheers

Sahars.

[sundog]

Originally Posted by tazmaan

Thanks for the reply sundog.
Here is the snapshot of what my account looks like right now. I just wanted to be sure this was typical of this method. It's building up profit while it sits at this open loss, as the account was started sunday night with 5000. Obviously if I closed it all down right now I would lose money, so i'll let it go and see what happens.
Does it get this bad on the 4hr timeframe?

Im relieved to see its a demo account

The beauty of the EA, is that it sets its TP, so it doesn't have to monitored or run. The beast can be the drawn downs.

Worst I've seen is 450 pips, as to the 4hr TF I dont have that much experience as yet, I've only put it on this week.

Ciao

[tazmaan]

Thanks alot for the feedback guys, I'll just let it keep running and see how we end up
Looks like it's sitting at over -3000 pips in DD so maybe it's beyond salvaging. We'll see what happens.

[dracozny]

Originally Posted by sahars

Steve,

The EA had an alert for AUDNZD, but after waiting for sometimes, the EA still not execute the order. Why...ah..!!?

sahars.

can you please post the event and journal tab for the time that the alert was triggered. it would be more bennificial to indicate why the trade wasnt executed.

[sahars]

Originally Posted by dracozny

can you please post the event and journal tab for the time that the alert was triggered. it would be more bennificial to indicate why the trade wasnt executed.

Dracozny,

Here is the alert even.

Thanks

sahars