- 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, and probably will.
- 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 basket trading:
DO NOT USE THIS EA ON LIVE ACCOUNTS
Recently, I received this in an email from tarrini65:
"Hi steve
I hope you can code this one. I have been trading this profiatbly for 2 months .
- chose a currency as a pivot ( example usd )
- sell it 3 times and buy it three times
buy aud usd
buy nzd usd
buy eur usd
buy usd chf
buy usd jpy
sell gbp usd
- same lot size; i use equity / 10000
- basket profit; i use lot size x 100
It follows the concept of the dollar index, and it never goes too much in dd.
.......
i bet that you can code a similar one.
thanks for checking "
tarrini wants this sharing at FF to see if others can help improve the strategy. I coded the EA on Friday and it did quite well. Watch the EquityDivisor input; this has an extra digit on tarrini's quoted value to make it trade the entire basket on my Alpari UK EA development demo.
This is a novel approach to basket trading to me, but I have no idea if it actually has legs or not. Have a play guys, and see what you think. The more experienced amongst you can already see how to build up different 'pivot baskets'.
Note to newbies or anyone unfamiliar with 'basket' trading
The concept that lies behind basket trading is this: the fate of an individual trade within a group of linked trade is unimportant. All that matters is the fate of the entire group of trades. Each trade has no tp or sl; these are applied only to the entire basket.
Having said that, basket stop losses always cause the system to fail. Work out for yourselves why, and you will already have taken a huge leap of understanding of the train-wreck represented by Forex trading.
In conclusion
I have no idea if this ea has a future. All we can do is test it and see.
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
Most promising trading EA's
- BigBob: an implementation of Nanningbog#b V10. http://www.forexfactory.com/showthread.php?t=309980
- 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 am trading this live.
- Rip: http://www.forexfactory.com/showthre...98#post4777998
- The Beast: http://www.forexfactory.com/showthre...=1#post4135863
- Pippo: http://www.forexfactory.com/showthre...96#post4675196
- Ibuks: http://www.forexfactory.com/showthre...88#post4656888
- FTLR: http://www.forexfactory.com/showthre...85#post3831885