Nanningbob V5 auto-trading robot. Newbies, fearlessly ask your basic questions here

I am certainly no expert, but based upon my experience the invalid stops error occurs when your broker requires the the SL and TP to be set after the order has been accepted and executed. Set the "Criminals ECN" setting to "true". The EA then sends the SL and TP after receiving confirmation from the broker.

T

Thanks for the info T. Yes. I had earlier set Criminals ECN= False

I have set it to true now. Thanks for the help.

Well. After setting Criminals ECN= True. I still had the issue after few hours. However, On my other terminal, I did not had any issue. I cross-checked and the only difference was with the lots.

Lots with 0.01 is going smooth with no error....only with 0.10 lots i see the error....I did a bit of digging online to check on the code and the error is related to the lots.

Thanks

It looks like you are running out of cash, the margin level is going too low and the broker does not opening anymore positions for you.

Thanks. I had 5000 Demo account. I will start out fresh Monday, with new account and keep update on the progress.

am i right, that the best TF for awesome is H1 and for awesone with fh is M15?

With all these bots that Steve is producing its hard to keep track! What is the most current Bot that Steve is using and finding the best results with? I have been trialling reversi but it doens't seem to be taking any trades? I am just using the stock settings that Steve supplied in the EA.
Many thanks

Try RIP and dietcoke's version of the MM EA - Pippo.

Paul

lotv et al:

Found the reason why Backtest and (single-pass) Optimization produce differing results for the same parameters: As indicated in this page describing the differences between Optimzation mode and Backtest mode, in Optimization mode Objects are disabled.

In Rip, Reversi, Pippo, and possibly other of Steve's EAs, parameters are read from objects during execution. For example, this statement:

double target = ObjectGet(reentrylinename, OBJPROP_PRICE1);

will not work in Optimization mode; it yields a zero, as objects are not functional. This causes calculations to be off; the whole algorithm produces different results.

Any EA written to read values from objects will not work in Optimization mode. I am not sure why Steve wrote them this way, but perhaps he explained elsewhere. In my newbie ignorance, I don't see any reason why these EAs cannot be modified so that they do not depend upon objects. For now, don't waste your time doing Optimizations.

Thanks for this thread. Not a basic question about forex but a question none the less.

I read the thread, where I could not post, from the middle of April 2011 about Renko charts. This may be the wrong thread to ask this (if it is please direct me to the correct one) but I am looking for someone to code a Renko EA for me.

As a non programmer this looks to me to be a somewhat simple strategy to code. At this point I can only think of 4 criteria I need coded but of course will defer to whatever an experienced programmer would recommend. This strategy is almost impossible to trade manually as some Renko trends occur so quickly that only a robot would be able to enter and exit properly.

I don't know what programmers get paid to do this but if anyone is interested in doing this for me please contact me at [email protected] to discuss it.

Thanks for reading this and I hope to hear from some of you programmers whose posts I value. By the way, please only respond if you are an experienced programmer and maybe have done a Renko EA before. I will check the forum about you before sharing details.

My two cents (or 2pips) on awesome. I was wondering if SQ was the only one that have read the pdf on the first page as in there clearly the gentlement who wrote the system is using awesome as a tool to trade the Asian break out. SQ version uses the EA to trade a box break out, same idea applied differently.

I did test the EA for the last 5 years by entering a single trade a day on 7am gmt with the original setting of 30-60 and had very good results, the lot ingreases to 192 twice (this is big enough to destroy my account) and a handfull to 96 normaly the trade is closed at 3 or 6 lot size.
When I change the box settings to 150-300 the lotsize ingreases to 6 lots only but gives not as many winners as before.

Since the EA was intrudused I trade manualy the London breakout and had as far only winners, I will introduse the big dog break out as well (if I've got time, I have to work as well).

My idea originaly was the lot size to follow the FIB sequense and go like 1, 3, 5, 8 etc this is giving a winner on the first two trades, a BE when the lot is at 5 and losses after that. The reason to do that was simply that somehow the EA has to accept a loss or will blow the account away. This with box settings of 30-60 at 8 lots size will give a loser of 90 pips with 13 lot size a loser of 300 pips which is a lot to loose in one go.

It would be nice if we had the option to draw our own box and choose the direction of the trade so we could apply the EA in a different box than the FX and maybe a partly TP so having closed half the lotsize after some profit is gained to let the other half run and move SL to BE.

To get over the problem of the spread difference I have used Steve's EA to close all trades after my profit is reached and this works fine so far.

Since I've got no voucher's I'm posting this here, If you like (and you have the right's add a link from the original thread).

Hi All,

This ea is working fine on my demo account. I Thought of trying it on my live mini account, so in the same terminal, I logged into my live account, but as soon as I login, most of the pairs which were trending in demo account becoming range in live account. How can the pairs become range/trend based on account...

Is it because, the demo and real account have different servers for data, and there may be some small change in the data which is causing this?

Any help is appreciated....


Issue resolved... Found the answer myself... downloaded all the weekly data, and then it started behaving nicely.....made couple of $s on my live account......

Hi,
i am trying out trendy manually first up before using ea as suggested and was wondering what are people using as an initial stop loss?

Hi I am trying trendy manually and don't understand the money managment I know its coded into the ea but I wanted to understand what it is doing before letting an ea loose.
Could you please explain the money amagement you use so I can do it Manually

I must congratulate all that was involved with the development of TB. First it is based on a solid proven system. Secondly it was developed to handel the loosing trades excellently.

I have been trading TB from the 01/08 to date and have an overall profit of 48% for the month on demo.

As I read thru TB thread I have noticed the concern of the relative high DD.

My observation is that the “white box” trades mostly cause this, when the market is bouncing around. The price will go in a direction until the GREEN line and then retrace, sometimes to the GOLD.
I also noted that the TS & BE setting does not work with trades that was executed based on the “white box” set-up.

My suggestions are as follow (if SteveHopwood can write it into TB):

When a “white box” pending trade is hit and the price continue to move in the trades direction do the following:
1) When the price reach the GREEN line, set the trade to BE + x pip, and delete the pending trade still open.
2) When the price reach the GOLD line, set the new SL at the GREEN line’s value, thus locking in some profit.
3) If the price decides to retrace after any of the above the trades will close with profit and the “white box” trading can then be in play onse more.

From my observation this will drastically reduce the DD

Keep up the good work.
http://www.forexfactory.com/images/icons/icon7.gifhttp://www.forexfactory.com/images/icons/icon6.gifhttp://www.forexfactory.com/images/icons/dollar.gifhttp://www.forexfactory.com/images/icons/icon10.gif

hello every one. hello steve. i've been trying to modify some of your codes into fibo limit system, which i believe could be very profitable. one can stretch fib on every time scale, or the 6th indicator of beastie, and see that price almost always respects these lines for short or long term.

my last attempt was to to modify bs multipairs system and combine the sixths into it. unfortunatly i made no progress with it. i hope you dont mind i put here my attempt based on your code, and i hope that you or somepne would take a look in it and make it work.
kind regards.

Hi Steve.

I'm demoing the Bigbob ea.

I had one buy on E/J, and as it went into negative dd, the bigbob opend 11 hedge order on e/j at the same price, at the same time,witch it doesn't seems to be right,or is it.

I thought to let you know if ther is a bug in there needs to be fixed,just in case some of you guys tading bigbob on live account.

Thank you for sharing your hard work.

Definitely not right. This is a bug and its entire family taking up residence.

You are able to post in my restricted threads now.

Cheers

My question is to those of you who are huge fans of TB like me. How does hedging work in TB? Is it a good idea to turn it on after L3 trade has been triggered? If not, then what is the other option to reduce the DD caused by a strong opposite trend? Thanks.

Hedging works by placing a trade in the opposite direction to your existing basket of trades which are currently in drawdown (DD), generally with the intention of either:

 

1. halting further DD until you are able to make a clearer trading decision as to how to get yourself out of DD. This is particularly useful in extremely volatile or uncertain markets where you just need a bit of breathing space without the risk of further DD. In order to use hedging this way, your hedge trade should be the same lot size as the total of all your existing trades; or

1. to eradicate/claw back your losses when a pair starts massively trending against you and you do not consider that a sufficient retrace is likely to recover your DD. This is useful where there is a well established trend which is moving against you. In this case you would hedge by, for example, 2 or 3 times the lot size of your original basket, using the pips you make from your hedge trade to wipe out your original position DD. It is important that you use a higher lot size than the total of your original basket of trades, otherwise you won't erase any of your existing DD.

However, a word of warning, hedging is an absolute minefield. Once you decide to hedge, YOU are effectively taking control of the trading, not The Beast. Auto Pilot is now set to the off position!

You can't just turn hedging on when you are in deep DD in L3 recovery and expect it to pull you out. When turning hedging on with a multiplication factor, you are effectively making the decision that you think the trend is more likely to continue than to reverse. Therefore you MUST be comfortable with trend trading.

Imagine this scenario....

Your total GBP/USD basket of trades amounts to 0.9 standard lots (0.1 + 0.2 + 0.6), and is deep in DD, with the pair still trending heavily against you. You decide to do something about it and turn hedging on, with an overall basket multiplication factor of 2, therefore it would place a hedge trade of 1.8 standard lots (although, in the hedging options menu, you would actually need to select a multiplication factor of 18, since it's based on your original trade lot size, which is 0.1).

Unfortunately, you turned hedging on just before the BoE announced some solid measures which will assist economic recovery (maybe not the most believeable example, I admit!). GBP/USD starts rising again. Instead of The Beast doing what it does best, sitting patiently until a move retraces and eventually closing its recovery trades for a small profit (which it would have done in this case, but for your hedge trade), you now have a HUGE 1.8 lot postion moving against you. You are now in the vicious circle of hedging and counter hedging until you hopefully work your way out of this mess. Welcome to hell

Hedging TB trades should be treated with great caution. You are effectively taking the view that you cannot sustain any more DD before a likely retrace AND you think that the trend will continue. Your hedge is a pure trend trade. You've got to be pretty sure.

That said, hedging can be very useful when used appropriately. By way of example, this is how I use hedging in respect of The Beast. This actually takes into consideration the fundamental counter-trend principles of The Beast (that movements retrace) despite the fact that it is applied in respect of a trend trade:

 

1. The pair is in L3 recovery and DD hits about 10% of my overall equity and is still trending heavily in the wrong direction.

1. I take a step back and consider how I would place a manual trade with the trend here, generally looking for a good point of entry, e.g. a break of resistance or catching it bouncing off support. This means forgetting about TB's pretty 1 hour charts for a while and going back to basics, checking multiple time frames and getting some old school trend/support/resistance lines drawn on the screen. Once I'm happy with my point of entry, I turn hedging on so that my hedge is 2x my original basket size (although, I will sometimes use a higher multiplication factor if I think the trend has enough momentum, which obviously means I get out of trade more quickly, but carries higher risk if the trend was to reverse).

1. Once the hedge trade has been placed, I will usually keep my eye on it until it has moved a reasonable amount in the right direction, then I place a stop loss which will lock in a few pips and protect my position if the trend is retracing beyond my point of entry. This way, I can sleep at night knowing I'm not going to wake up with my hedge massively against me. If the hedge does retrace and triggers my SL, I wait for another entry point and carry out the same procedure again, or, if I am really lucky the retrace will be a big one and will wipe out my DD without needing another hedge trade!

This has multiple benefits:

 

1. DD is always controlled. Although you may not get out of the DD quickly, it does ensure that your DD does not get any worse from the point you make the decision to hedge.

1. You can lock in a few pips of profit every time the trend retraces, which can be helpful if you are locked in DD for a long time since it keeps that pair earning some cash and covering swap fees.

1. With the hedge SL in place, you can sleep easy at night and there is no risk that you end up with a huge hedge working against you.

It is a little trickier if you place a hedge trade and it instantly moves against you. But that's just trading unfortunately. With a position that large, you need to decide whether you want to take a quick loss and re-evaluate your entry, or let it ride in the hope the trend continues.


Have fun, hedging can be a life saver or a nightmare