23rd March, 2010.
Today, I implemented a decision I have been moving towards for a few weeks. I closed all my Range trades and took the robot off my live account.
The Range robot has been brilliant. I am left with an account that is double its value the last time I funded it. It has been as high as triple its starting value.
Sadly, the increasing length that baskets have remained open without becoming profitable appears to show that this trading method is no longer viable. Two of the baskets I closed tonight were opened 4 months ago; even had they hit the basket tp, swap would still have been a bigger loss than the profit from the trades.
Newcomers here can still learn a lot from reading the thread. Just do not expect to emerge from this reading with a tradable robot.
I shall be doing no further development on the robots available here.
Relative strength trading is still alive and well, albeit in a different form. Please visit the scooby-doo thread at http://www.forexfactory.com/showthre...85#post3199485 to find out about this.
Trading newbies may find themselves bewildered by the scoobs thread; there is much that is brilliant to be gained from the Boris Schlossberg-inspired trading robots at http://www.forexfactory.com/showthre...17#post3380217.
Both of these threads contain robots that contributors are trading live.
I am effectively closing this thread, by making posting open only to those traders with a ridiculous number of vouchers. If anyone wants it reopening in order to continue the discussion then please pm me. I will reopen the thread with pleasure; just do not expect me to get involved.
My thanks to all those who contributed usefully to this thread. I learned much from it. Good luck to you all.
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.
- Read this post at http://www.forexfactory.com/showpost...postcount=1210. It highlights how useful it is to devote the time to studying the threads.
- 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.
The 'Unknown subwindow' error
Users of these systems have two equally unpalatable alternatives:
- You can drag the required indicator onto your chart. The indi is a resource hog and your computer will sometimes slow to a crawl if you have it on a chart.
- You can leave your chart without the indi. This will result in your Experts tab filling with this blasted 'Unknown subwindow' error. This is an indi thingy; there is nothing I can do about it; it doesn't affect the running of the robots. Mention it here and I will blast your contribution to ribbons and ban you from further postings in any of my threads. It has been mentioned about 30 times by people too dim to do the reading that would both have shown them that it has been encountered before and been explained. Again and again and again. Forget it, ok?
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.
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:
All will be explained.
8th Dec 2009
I have added code to limit the number of attempts the robot will make to complete a part-failed basket.