The Land of The Tiger - another Steve Hopwood thingy

I have watched a couple of videos by Chuck LeBeau, in which he gave a workshop about trade entry/exit.

I am not able to make the videos publicly available - they are a commercial product.

What I can do is make use of my understanding of CB's points. To summarise, in the first half of the workshop he described how to use Atr and Adx to determine whether a market is trending or ranging. The second half was about trade exit; in particular he presented a method he calls the Chandelier trailing stop; this looks brilliant for managing trend trades.

Tiger offers the ability to:

 

1. choose from different trend-direction filters
2. choose from different trade exit strategies
3. combine these with different trading strategies

Here is how I see him developing:

 

1. adding contributors' favourite trend-direction filters
2. adding contributors' favourite trade exit strategies
3. adding contributors' favourite trading strategies

So, please contribute your proven methods. Ok, so not all manual systems are successful when automated, but we can but add them and see. I have included two trading strategies to set the ball rolling; I am not sure how profitable they can be. I cannot contribute any successful trend-trading systems because I have not developed any yet.

There is not the space in this post to describe all the ins and outs of the robot. Please start by reading the user guide; this should make everything clear. I shall update the guide with future developments as we go.

We should end up with a monster trading robot that users can adapt to their own uses; that is my intention.


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SERIOUS WARNING

 

1. Most Forex traders lose all their money.
2. Using the robot posted here in trading Forex does not guarantee success.
3. Trading this robot could lead to serious financial loss.
4. Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
5. A trading robot is a maximum of 90% as good as the manual strategy it trades:
   1. just because the manual strategy is profitable does not guarantee the robot will replicate this success.
   2. if the trading strategy is rubbish, so is the robot.

YOU TRADE THIS ROBOT AT YOUR OWN RISK


Newbie traders, this robot is not a toy you will understand at first. Just hitch up for the ride and learn. My work attracts attention from seriously clever and experienced traders; we all learn a lot from these people.

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Traders familiar with my work need read no further.

Cheers. Have fun. http://cdn.forexfactory.com/images/s.../yim/party.gif


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.

Traders 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.

For new/confused traders, I have set up a partner thread to this one where you can ask your questions -

http://www.forexfactory.com/showthre...89#post3727389

I started this for Epsilon Megastar contributors, so we can adopt it here.

There should not be many bugs. I am quite good at coding this stuff these days and I have mostly been coding tried and trusted methods. Any users spotting any, please report them here.

Thanks for the invitation, to learn.
Bless

Rock out Steveo - U be on a roll buddy!

My contribution for Tiger dev;

1) Trend direction ; My SSS EA uses Price Channel Stop indy on multiple time frames and accurately finds trends on M30 and above timeframes. In times of low market volume, any trends are ignored using the Damiani indy.

2) Trade exit ; My SSS EA uses many types of trade exits.

4 methods of taking profits;

A) rubbery (ATR) level ; these vary with ATR of the chart pair (set via multiplier) Set to approx 1.5 x ATR of that pair as rule of thumb.

B) Fib based exit

C) LPMM (a.k.a Profit Maximizer; kicks in when 3 time frames are all in sync meaning that a very strong trend is underway. All TP methods are disabled and an another instance of Price Channel Stop Indy set to H4 waits for a change of trend before locking in the big chucks of pips.

D) Close All (based on % UPL of account equity)

We have 2 methods of stop loss;

A) 1 rubbery (ATR) level ; these vary with ATR of the chart pair (set via multiplier) Set to approx 1.5 x ATR of that pair as rule of thumb.

B) Indicator based exits - Change of logical state for different indicators/time frames to trigger exit. (Price Channel Stop/DSS Bressert/Damiani)

Asjeff asked me in an email to add MrPips' LSMA trend filter, so I have done.

Nick, I will look at your post later.

My word Steve.....
I'm just finishing my second demo unit and now it's already used up. I sure can't build these things as fast as you can write EA's......Sure is fun!!!

whip

P.S. Congratz on a very interesting EA and using the 4-digit broker as the base for your numerical inputs....Very Nice!

Steve,

I look forward to taking this new puppy for a spin.

Sorry to be invisible lately...been under the weather (nothing serious) and functioning on one cylinder. Slowly getting back into the swing.

Regards,
Octo

I am Invisible....

... but I have also been under the weather as well, so perhaps we are one and the same.

Two quick trades Steve....Long and a short....EurUsd and UsdCad.....Great Start

whip

octomanoak emailed me with a trading strategy, so I have added it to Tiger. Cheers octo.

Details in the user guide.

Hi Steve,
Over the past couple of days I’ve been having a play with the Tiger to see if I can get any profitable settings on backtest. Here are my findings so far:

Trend Detection: LSMA
Trade Exit: ATR Sl & Tp
Trend Trading: Moving Average
Range: None

I’ve also updated the EA so that the user can specify trading times. I found the best times to trade the above settings were between 10AM to 12PM GMT.

Anyway, this is just my contribution and I hope people find it useful. I’m still learning Forex trading so I can’t really explain why these settings work on backtest.

I think this EA has plenty scope for development. I am currently looking at running different settings on different days.

I have attached the updated EA along with a settings file if people want to run a backtest. I have been using GBPUSD 1HR chart and running backtests from the start of 2010.

Thanks again for sharing this EA.

PeeJay

Well, I am not arguing. Apart from anything else, adding the trading times thingy saves me a job, so thanks yet again for a fabulous contribution. Your version with the trading times is the version I just uploaded to post 1.

I have neglected Tiger this week because I have been concentrating on nanningbob thingy's. There is a problem with the octomanoak coding because trades were opening and closing with undue haste and draining the account. I shall sort this out next week (busy with concerts this week); in the meantime, don't trade the octo system. Not octo's fault, tis the fault of the programmer.

No idea whom that is.