- 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.
Earlier today, I received an email from Vinesh. I reproduce part of it here:
I know you may not like this but I'm going to ask a favour of you anyway.
Can you combine and fully automate Lawgirl's EAs which you have coded yourself with SHI TL indi?
It will avoid sitting and staring at the screen for set ups of oppurtunities on every pair and time frames (which is the main reason for EAs in the 1st. place).
I sincerely hope you'll think over this.
I had a lot of initial enthusiasm for lawgirl's system; she has trend-trading sussed. After some early success, I found it did not work for me; I would miss entries; I would set my 'waiting' ea's and forget I had set them; I would just plain get the trend wrong. I gave up - I am not exactly short of trading methods.
As soon as I loaded up the indi Vinesh was discussing, I realised that there is potential for adapting The Beast and all his features to trend rather than counter-trend trading. This is what I have spent today doing.
So, you can blame Vinesh for the need to hammer your demo-trading computers even more.
The Shi indi gives a trend direction and draws the trendlines The bots detect an uptrend, downtrend or range depending on the slope of the indi and/or the value of Rsi(3). In an uptrend, it buys a touch/pierce of the bottom trendline; in a downtrend it sells a touch/pierce of the top trendline; in a range, it does both.
'The Beast's trend trading alter-ego' is an adaptation of The Beast (hence its name) so all the Recovery/Hedging features are in place. There are some differences, so see the user guide for full details.
If this bot turns out to have long-term legs, it might be possible to combine it with The Beast to create one robot. We shall see.
'Lawgirl's Tame Beastie' is an attempt at automating her system, using Rsi(3) as detailed in her thread for the setup, and a touch of the Shi trend line as the trigger. Visit http://www.forexfactory.com/showthread.php?t=257876 to read about how to trade the trend Lawgirl style.