- 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 strategy guarantees traders will lose their money.
- I reckon it is probably a loser anyway.
I received this in a pm from Goldflight:
"Hello Steve,
I have an idea for an EA that you may be interested in. I dont know if this has been tried, if so please let me know.
- OK, put on lines at all round numbers, then one line 15 pips above round number, and one 15 pips below.
- Now when price comes down to the 15 pip line above round #, EA opens 2 orders sell.
- First order closes when it reaches round #,
- 2nd order stays on with an 15 pip trail stop.
- Buy if price is moving up.
- 20 pip stoploss
I had a spare hour this morning, so I coded the bot. So far as I can see, it is a loser - going down the pan big-time in Strategy Tester. To be fair, the crims widen their spreads at the weekend, to bugger up anyone trying to backtest anything; that does not help.
The inputs are straight forward. On the grounds that this appears to be a consistent loser, I included ReverseTradeDirection to see if trading in the opposite direction makes any difference. It does not. Be aware also that this leads to a far-distant tp, so the trades basically rely on the trailing stop to close in profit.
You can also tell the bot whether to send one or both of the trades.
I have no interest in this EA, but maybe someone can find a combination of settings that make a profit.
If someone pops up and exclaims, "Trading round numbers is how I made my first million, but I also..........." then I don't mind trying to code in the "........"
DO NOT TRADE THIS ROBOT ON A LIVE ACCOUNT. YOU WILL LOSE MONEY.