- 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 received this pm from Caillou:
"................................ The idea is extremely simple:
1.- When we attach the EA to a chart (EUR/USD, M1 for example), the EA takes the current price as a start price.
2.- Then, at the close of the bar, if price is above start price, it opens a buy order, if price is below a sell order.
3.- Then at the close of each bar, if price is above start price and all previous buy orders are in profit, it opens a new buy order. If price is below start price and all previous sell orders are in profit, it opens a new sell order. Obviously, non US brokers are needed.
4.- All orders will be closed when P/L reaches the profit target and we start again. No SL, just perfect hedge.
A few months ago other members and me tested this version with mixed results but on higher TF (1H) and higher profit target (100.-$).
I have tested it for 3 days (yes only 3 days), 24h, in EUR/USD, M1, 10.000.-$ account, Alpari UK, demo and live, and profit target: 10$ with these results: account up 9%, and the most important: max DD only 2,45% !!!!!
With such a small target, baskets are closed usually extremely quickly, in M1 we need a really small price movement for that and we adapt to any changing market really quickly."
Experimental stuff
All of this can be turned off by using the defaults.
I was playing out with strategy tester today:
- WithTrendLotMultiplier: this assumes that trades in the direction of the underlying trend are more likely to be successful than those against it. If you are using the Rsi trend thingy, then you can use this input to multiply the lot size of the post trade 1 trades; theoretically it will allow a basket to close more quickly. Probably causes more crash-and-burn than anything else, but perhaps worth playing with.
- SingleTradeProfitTarget: if >0, this will prevent the bot sending a second trade if the first one is in profit. Allied with the Rsi trend thingy, this means the with-trend trade is profitable and so extra entries are not needed. SingleTradeProfitTarget is a hidden tp in these circumstances. It might be worthwhile setting this figure very high and using mptm to manage the stops.
All this came about because I found that the H4 EU avoided the crash-and-burn of the M1 chart. All we can do is play with the inputs and see what suits us.
Alternative versions
magft has added a version with a few tweaks. Read about it at http://www.forexfactory.com/showpost...&postcount=130, then download the latest from http://www.forexfactory.com/showpost...&postcount=132
gspe's version with Fractals: http://www.forexfactory.com/showthre...40#post4617240
