- 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. There is every chance of this happening - visit E2u's profile page and see what he lists as his occupation.
Sorry to start yet another thread guys, but some of us have been having some fun with the trading method. This thread will go one of two ways: wealth and riches or crash and burn. There will be no middle path. This method will either be fantastic or catastrophic.
Here is what I understand of E2u's method:
- take a trade in any direction. No stop loss; take profit 10 pips
- if the trade goes bad by 20 pips, hedge in the opposite direction at 10 times the size of the original trade
- if the hedge and the original reach breakeven, close the pair
- if the market moves back in favour of the initial trade and it hits its tp, then hedge the hedge at 17 times the original lot size
- after that, each hedge is itself hedged at 1.7 times the previous lot size, at each -20 that the market moves against it. Terrifying.
I did a rough adaptation of BWB to try this out - this is what we have been playing with. The code is dreadful and unreliable, and so is unsuitable for anything other than entertainment.
If this method is to reach live accounts then we need more than is offered by BWB's adaptation, so I have coded this single-chart ea instead. We can discuss the extra features as time passes, if this method proves to have legs.
It does include two filters to at least try to send the trade off in the right direction:
- a D1 Rsi(20). E2u will send a buy if the value is >=55, and a sell if <= 45. It will sit out if the value is in between these two numbers.
- a maximum spread filter to stop trading pairs will silly spreads.
The big question is, what do we do when the initial trade (1) is hedged (2), then closes at tp, then the hedge is hedged (3) but the pair never achieve breakeven as the market moves back in favour of (2)? A 'line in the sand', perhaps? We shall see.
DO NOT USE THIS EA ON LIVE ACCOUNTS. IT IS LETHAL AND WILL BLOW YOUR ACCOUNT. IT IS EXPERIMENTAL.
Martingale trading (where you take out successively higher trade lots the further against you a trade goes) is lethal unless you have huge accounts and trade tiny initial lot sizes. I am seriously worried that the inexperienced may be tempted to use this robot live after a couple of weeks lucky trading on demo. I have added code to prevent it being used on live accounts and take the abnormal step of releasing only the compiled code so that the more inventive cannot get around this restriction.
This is not one of those you-must-read-all-to-understand threads. If the method survives, the thread will grow; just read this post, make sure you understand the trading method and skip to the end. If the method turns out to be crash-and-burn, then I will close the thread.
So, download E2u and pop it on a few demo charts; tf does not matter. Have fun.
http://cdn.forexfactory.com/images/s...m/big_grin.gif
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Traders familiar with my work need read no further.
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 thread to this one and Nanningbob's at http://www.forexfactory.com/showthre...66#post3948666
Here, 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. I opened it for Nanningbob traders, but feel free to ask about this robot as well.
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.