- Most Forex traders lose all their money.
- Using the robots posted here in trading Forex does not guarantee success.
- Trading these robots could lead to serious financial loss.
- Trading these robots without understanding their underlying trading strategies guarantees traders will lose their money.
- A trading robot is a maximum of 90% as good as the manual strategy it trades. There is every chance that his one is utter rubbish.
- just because the manual strategy is profitable (if indeed it is) does not guarantee the robot will replicate this success.
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Newbies, waste no more time here. Go straight to http://www.forexfactory.com/showthread.php?t=246113 and:
- read post 1 several times
- download the zip files, and read the documentation several times
- read the first 20 pages or so of the thread. You can then skip to the last 20 or so to catch up with latest developments. Pay particular attention to nanningbob's posted charts and replies to questions
Until you have done this, you will not have any idea what is going on here. This thread is for NB-cognizant traders and I am not going to explain the Recovery system here. Frankly, when you have achieved a few successful demo trades using Bob's training, you will probably not want to return here. For sure, you will not need to. ![]()
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Ok guys; here is the genesis of the attached, which is an 95% auto-trading EA.
I wanted to practise using Recovery this weekend, so I used the vHands trading simulator (http://www.forexfactory.com/showthread.php?t=60849). I am beginning to think that this may be Bob's lasting gift to us all, over the next few years.
I took an H1 chart trading the psychotically-deranged GJ pair, and zoomed out so that the chart had a decent number of pips from top to bottom.
I sold at or near the top of the chart, closed the sell and bought at the bottom. When a trade went wrong because the markets continued in the wrong direction, I would wait for a brief retrace then pile in with the next level, using a 1.2.4 system where the 1 is the initial trade. In several hours of practice (many, many candles on the chart) I only hit L3 a few times and never saw dd greater than 10%.
Once into Recovery, I closed the trades at breakeven. This often left me bored, waiting for the price to achieve the outer reaches of the chart. Quite soon, I took to simply taking simultaneous buys and sells, closing the successful one at the edge of the chart and managing the remaining one to breakeven using Recovery.
I doubt this highly unscientific method would work in live trading, but I have heard worse ideas here at FF. ![]()
It did give me the idea for the attached. CPW works thus:
- at just on, or about, the Sixths 3.6 middle white line, takes a buy and a sell - so you cannot use this with a criminal who does not allow hedging.
- no stop loss (for now)
- tp is the top gold line for a buy, bottom for a sell
- draws the re-entry line at the middle white line
- once one of the trades hits tp, goes into recovery mode and piles in with the L2 trade
- from there, re-draws the re-entry line according to Max's pip values from NB auto-trader
- performs Recovery from here as does NB robot
This is great in backtesting until the runaway trade occurs. At L4, the bot shuts up shop and we would then manage the trades as we have been taught to by Bob.
THIS IS AN EXPERIMENTAL EA AND MUST NOT BE USED ON LIVE ACCOUNTS
For CPW and Sixths to be displaying the same sets of figures, use the attached version of Sixths and make sure the BarCount of both are set to 120.
Let's play with this on demo for a few days and see if it might have any legs.
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Traders familiar with my work need read no further.
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 thread at http://www.forexfactory.com/showthre...66#post3948666
Here, 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.