- 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:
- How to use EA's.
DO NOT USE THIS EA ON A LIVE ACCOUNT. IT IS EXPERIMENTAL.
Here is a digest of a pm I received from Trumpcard a couple of weeks ago:
"Recently I've been dabbling in 15 minute closing price breakouts among other things. I've been tinkering around with the relationship of the last closing price relative to the previous three closes and basing entries on that.
I've come up with rules for a 15 min system which on some very limited cable backtesting showed quite some promise. However, adapting this to the 5 min timeframe (something I've never really traded/examined before) results seem even better.
I would lke to know if the below trading system has some merit. Do you think it's worthwhile sharing it publicly with the idea of forward testing and improving it?
Here is what I've come up with:
Trading from 11am until 10pm. Thi is when to take all trades and is something that could be altered)
I've looked at this on EU and E/J on random dates.
EJ 13th Sep had 24 wins, 8 losses.
EU 23rd Sep had 21 wins, 12 losses. 19Sep had 11wins, 13 losses.
Buy setup (opposite for shorts)
From 11am, wait for a bar whose close is higher than the 3 previous closes. This will be the trigger bar.
Place a pending buy order 1 pip above the high of the trigger bar. TP and SL are 10 pips.
If the pending order isn't triggered on the next bar, cancel the order and wait for the next trigger bar.
HOWEVER, IF the bar(s) immediately following the trigger bar are Inside Bars, the pending order remains valid and then triggered on the subsequent bar or cancelled if no breakout.
Only take 1 trade at a time. Once a trade closes, immediately look for the next trigger bar. This could be on the current bar of which the previous trade exited.
A suitable R:R is 1:1"
I slightly misunderstood Dan's pm. I thought he was asking me to code an EA, not whether I thought it worthwhile sharing the system here at FF. I gave my standard response: loosely translated it is, "Come back when you have traded this manually and successfully for a couple of weeks, then I will think about it."
Last week, Dan came back to me with this:
"hi Steve! Well I've been forward testing my strategy on EJ and EU since the 23rd September and have just finished back-testing for the rest of September. It has taken me many many long hours examining each chart. I have saved each chart annotated with every trade indicating whether it was a win or loss. On a few occasions when I couldn't zoom in any further with some trades, I simply marked them as a loss.
I am very pleased with the results. Also the first week of October has been great as well. I can email you a spreadsheet with my results if you like! I am still going to forward test until the end of October.
cheers
Dan
Sep Summary E/J E/U
Total Trades 237 285
Total Wins 143 170
Total Losses 94 115
Net 49 55"
Anyone who puts this much effort into something deserves to be taken seriously, hence the new EA. Dan, maybe you could post your spreadsheet here?
In a subsequent pm, Dan stated that he trades from a couple of hours into the Frankie session; the default trading hours are correct for me here in the UK. You will need to input your own local time that corresponds with Frankie start + a couple of hours.
In strategy tester from 6th July (EU M15), I found Dan's tp/sl of 10 was murdered; I tried the defaults out of curiosity; they make a killing. I haven't a clue what the best settings should be, is what I am saying here. Weekend strategy testers, remember to widen your MaxSpread input.
The inputs are the usual suspects; those of you new to my work will have to read around my threads and pick up one of the user guides that explains what they are and how they work - Alex at http://www.forexfactory.com/showthread.php?t=316936 is probably the best one to use. You can always stick the bot on a few charts and just watch for a while until the inputs start to make sense to you.
New inputs for TC:
- LookBackCandles: allows you to customise the number of candles TC will check to ensure the previous candle had the highest close.
- PendingPipsDistance: the distance from the trigger candle's hi-lo to set the pending trade.
TC makes full use of Stealth; turn it off with a HiddenPips input of 0.
TC will generate plenty of trades, so it will not be long before we know whether he has fit legs or not. Have fun.
Hanover
The Hanover module allows us to trade in the direction indicated by hanover's Recent Strength indi. I consider this to be the most significant development in my time at FF. Details in the Hanover thread athttp://www.forexfactory.com/showthread.php?t=319709. The Hanover check comes at trade-send time; so pending orders are set regardless of RS.
Matters of general interest
Read this post:
http://www.forexfactory.com/showthre...11#post4923611 Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration.
Masterly summary of hedging: http://www.forexfactory.com/showthre...79#post4977179
EA coding
I receive may requests to code EA's. Traders, if I code your EA for free, then I will share it here at FF. If you want me to code your EA without sharing, then my fee is $100 payable into my paypal account. I explain why at http://www.forexfactory.com/showthre...94#post4431794, at the bottom of the post.
EA coding
If I code your EA for free, then I will share it here at FF. If you want me to code your EA without sharing, then my fee is $100 payable into my paypal account.
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
- My shell EA – the code I use to produce EA's so quickly. http://www.forexfactory.com/showthre...94#post4431794
Most promising trading EA's
- Spider. I am trading this live. http://www.forexfactory.com/showthread.php?t=313680
- BigBob: an implementation of Nanningbob V10. http://www.forexfactory.com/showthread.php?t=309980. The strategy is fantastic and I am having a ball trading a variation of it manually.
- Aurora, a PwR-based EU scalper at http://www.forexfactory.com/showthread.php?t=312936 made a brilliant start.
- 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 have traded this live.
- Rip: http://www.forexfactory.com/showthre...98#post4777998
- The Beast: http://www.forexfactory.com/showthre...=1#post4135863 A number of traders are still trading this live.
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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 to my restricted threads at http://www.forexfactory.com/showthre...66#post3948666
There, 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.
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.