- 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:
- Forex trading.
Over in the thread where we are developing BigBob (http://www.forexfactory.com/showthread.php?t=309980) carolco came up with a grid-trading idea for sending and exiting NB V10 Trend trades. Read his post at http://www.forexfactory.com/showthre...03#post4887703
Rather than go ahead with this idea straight away, I have coded Carolco to investigate the possibilities.
When you drag Carolco onto your chart:
- Select TradeLong and/or TradeShort. Non-US traders can send both.
- Enter your lot size.
- TradesInGrid and PipsBetweenTrades are linked. Going with the defaults, Carolco will send:
- One pending buy trade FirstTradePipsFromMarket pips from the current Ask, then 4 pending buys each one PipsBetweenTrades higher than the preceeding one.
- One pending sell trade FirstTradePipsFromMarket pips from the current Ask, then 4 pending sells each one PipsBetweenTrades lower than the preceeding one.
Each trade's take profit is the same as the open price of the next trade in the grid. The stop loss is an input, so set this to zero to send trades without a sl.
When a trade fills, Carolco should notice and add a further pending to the top end of the buy list and bottom end of the sell list.
The only way to stop this process is to remove Carolco from the chart. Use the attached script to quickly remove unwanted pendings; drag it onto the appropriate chart and set the magic number. The default of 0 means no magic number and can usually be left alone.
As coded, the EA attempts to catch a big movement by a pair, so use it on the more volatile pairs. The attached script will give a display of the volatility as calculated by BigBob; read the user guide there for details.
This is all experimental. Do not assume this strategy will be successful. Let's have a play 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