Carolco: a grid auto-trading robot by SteveHopwood | Forex Factory

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Attachments: Carolco: a grid auto-trading robot by SteveHopwood
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Carolco: a grid auto-trading robot by SteveHopwood

  • #1
  • First Post: Edited Aug 27, 2011 4:13am Aug 22, 2011 5:08am | Edited Aug 27, 2011 4:13am
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. This is not a set-and-forget ea; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention.
  6. At best, a trading robot is only 90% as good as the manual strategy it trades. At best. At worst, it can be much less effective. If the strategy is rubbish, so is the robot.
  7. To trade this robot, you have to understand:

    1. Forex trading.

Over in the thread where we are developing BigBob (http://www.forexfactory.com/showthread.php?t=309980) carolco came up with a grid-trading idea for sending and exiting NB V10 Trend trades. Read his post at http://www.forexfactory.com/showthre...03#post4887703



Rather than go ahead with this idea straight away, I have coded Carolco to investigate the possibilities.


When you drag Carolco onto your chart:

 

  1. Select TradeLong and/or TradeShort. Non-US traders can send both.
  2. Enter your lot size.
  3. TradesInGrid and PipsBetweenTrades are linked. Going with the defaults, Carolco will send:

    1. One pending buy trade FirstTradePipsFromMarket pips from the current Ask, then 4 pending buys each one PipsBetweenTrades higher than the preceeding one.
    2. One pending sell trade FirstTradePipsFromMarket pips from the current Ask, then 4 pending sells each one PipsBetweenTrades lower than the preceeding one.

Each trade's take profit is the same as the open price of the next trade in the grid. The stop loss is an input, so set this to zero to send trades without a sl.


When a trade fills, Carolco should notice and add a further pending to the top end of the buy list and bottom end of the sell list.


The only way to stop this process is to remove Carolco from the chart. Use the attached script to quickly remove unwanted pendings; drag it onto the appropriate chart and set the magic number. The default of 0 means no magic number and can usually be left alone.



As coded, the EA attempts to catch a big movement by a pair, so use it on the more volatile pairs. The attached script will give a display of the volatility as calculated by BigBob; read the user guide there for details.


This is all experimental. Do not assume this strategy will be successful. Let's have a play and see.







Useful utilities/EA's/scripts

 

  1. MaryJane has posted a fabulous utility to allow us to resize EA input windows: http://www.forexfactory.com/showthread.php?t=299017
  2. Multi purpose trade manager: http://www.forexfactory.com/showthread.php?t=89371
  3. Account equity analyser: http://www.forexfactory.com/showthre...16#post4693716 Also at http://www.forexfactory.com/showthre...98#post4709098, which includes a template for both USD and the Euro.
  4. Past-trades display indi by squalou; shows a graphical display of the success/failure of trades in your History tab. Breathtaking piece of work. http://www.forexfactory.com/showthre...10#post3830610




Most promising trading EA's

 

  1. BigBob: an implementation of Nanningbog#b V10. http://www.forexfactory.com/showthread.php?t=309980
  2. Trendy: http://www.forexfactory.com/showthre...82#post4840182, but should be left behind by BigBob.
  3. Reversi: http://www.forexfactory.com/showthread.php?t=294255 – I am trading this live.
  4. Rip: http://www.forexfactory.com/showthre...98#post4777998
  5. The Beast: http://www.forexfactory.com/showthre...=1#post4135863

Attached File(s)
File Type: mq4 Display volatility script.mq4   2 KB | 1,336 downloads
File Type: mq4 Delete all pendings script.mq4   1 KB | 1,313 downloads
File Type: mq4 Carolco grid trader by SteveHopwood.mq4   23 KB | 2,535 downloads | Uploaded Aug 27, 2011 4:13am
  • #2
  • Aug 22, 2011 7:17am Aug 22, 2011 7:17am
That is really fast.. Thank You!!!
  • #3
  • Aug 22, 2011 7:41am Aug 22, 2011 7:41am
Steve et al,

I'm a 2 yr old Newb. I never thought that I'd actually be frustrated by the amount of opportunities that between yourself, Nanningbob and all the other generous traders out there actually create. I just simply can't keep up. What a great problem to have (This is not a complaint--its a huge thank you)

I was one of those typical starters that got introduced to FX by a mate and thought "chuck on one of those $ 97 robots and make money...How difficult can it be". Well, ja right--you guys have seen it all before.

How amazing that the quality of work I have come across on your threads is immeasurably higher than what anyone out there can justify with a price tag.

I'm one of those people that to properly understand something I must internalise it (explanation of a system must resonate with me before I grasp it). But I find I'm barely getting the gist of one your (or Bobs) mammoth thread's when you guys start something new.

I also understand I'm a "lurker" by just reading threads and not contributing anything--but I dare not ask/say anything because my knowledge and quality of question will never be enough to prevent a verbal slap upside the head.

I live on the tip of Africa (RSA) where the spirit of Ubuntu ( "I am what I am because of who we all are." ) helped us get thru some hairy times as a country....but how inspiring and heart-warming to find this spirit alive and well on the FF forums. But just a humble thank you (to you and all your able and willing compadres) for helping and being so willing. I believe your generosity of spirit will be rewarded ten-fold--If not in Pips then in all the blessings you richly deserve
  • #4
  • Aug 22, 2011 7:41am Aug 22, 2011 7:41am
Quoting carolco
That is really fast.. Thank You!!!
Reminds me of what the girlfriend said last night .....
  • #5
  • Aug 22, 2011 7:56am Aug 22, 2011 7:56am
Quoting macman
Reminds me of what the girlfriend said last night .....
You cooked tea really quickly? Well done.
  • #6
  • Aug 22, 2011 8:04am Aug 22, 2011 8:04am
Quoting macman
Reminds me of what the girlfriend said last night .....
...happens all the time, Mac...to all of us, eventually!
I don't say
  • #7
  • Aug 22, 2011 8:12am Aug 22, 2011 8:12am
Quoting macman
Reminds me of what the girlfriend said last night .....
At least you got a "Thank You". However based on the statement before the "Thank You", that could be intrepreted a couple of different ways,
  • #8
  • Edited 8:31am Aug 22, 2011 8:26am | Edited 8:31am
Hello Steve,

after stumbling upon your EA number x for this week, that is one I might also have waited for ... congratulations for your neverending power. But please, do NOT apply for a job as that duracell bunny ^^

There is a grid trader called snowball. Carolco does trade similar to it, but there is a difference you might be willing to think about.

Snowball can be set to long, short or both. If you set it to both, it stays static at the price set. But if you set it to either short OR long, it opens a grid too, but moves the grid levels towards the price. E.g. you want it long, and price goes short at first, the buy stops are all shifted towards the actual price. So if it then returns going long, the levels are hit much faster than it would be if they were static.

Purpose : let's say you want to countertrend a pair, and the actual trend is up, then set Carolco on a FirstTradePipsFromMarket value of maybe 20 (to be determined). If the price continues to move up, all grid levels would then be taken up also, right until the pair reverses 20 pips and triggers the first grid level...

Now imagine the possibilities if you combine this strategy into the BOTH ways strategy and play around with the frommarket value ... and why not set it on top of the forexhard's breakout box

Just a few thoughts, hopefully I did explain it well enough ... cheers, George
"We are all just prisoners ... of our own device ..." (Hotel California)
  • #9
  • Aug 22, 2011 8:32am Aug 22, 2011 8:32am
this is somewhat similar to 7bit's snowball ea isnt it? except that the snowball ea holds onto the positions instead of regular profit taking...
  • #10
  • Aug 22, 2011 8:33am Aug 22, 2011 8:33am
Quoting xxl205
Hello Steve,

after stumbling upon your EA number x for this week, that is one I might also have waited for ... congratulations for your neverending power. But please, do NOT apply for a job as that duracell bunny ^^

There is a grid trader called snowball. Carolco does trade similar to it, but there is a difference you might be willing to think about.

Snowball can be set to long, short or both. If you set it to both, it stays static at the price set. But if you set it to either short OR long, it opens a grid too, but moves the grid levels towards...

oh well there u go , u beat me to it
  • #11
  • Aug 22, 2011 8:46am Aug 22, 2011 8:46am
Quoting suetombo
oh well there u go , u beat me to it
Hehe snowball always takes the same value "PipsBetweenTrades" for "FirstTradePipsFromMarket". That is not useful for me. Thus Steves' new baby does that different, I am watching it very closely
"We are all just prisoners ... of our own device ..." (Hotel California)
  • #12
  • Aug 22, 2011 10:27am Aug 22, 2011 10:27am
I've got a feeling this would work particularly well at news times.

and the reverse during a quiet market. therefore time/news filters should help.

nice
TRADE FOR SWAP
  • #13
  • Aug 22, 2011 10:45am Aug 22, 2011 10:45am
Quoting xxl205
Hello Steve,

after stumbling upon your EA number x for this week, that is one I might also have waited for ... congratulations for your neverending power. But please, do NOT apply for a job as that duracell bunny ^^

There is a grid trader called snowball. Carolco does trade similar to it, but there is a difference you might be willing to think about.

Snowball can be set to long, short or both. If you set it to both, it stays static at the price set. But if you set it to either short OR long, it opens a grid too, but moves the grid levels towards...

As i mentioned earlier in BB thread, this concept was taken from Dreamliner thread named http://www.forexfactory.com/images/misc/paperclip.gif Super Carry Trade Trading System..

This one is made for gain all profit from a trend trade triggered by BB (robot under a development of SteveHopwood). So as I understand Carolco EA is a tool not a system. BB sends trades if there are condition met. So there is no need to move pendings since this is not supposed to be used in CT system for now.

I introduced this system in BB robot development thread because I think it could be the best symbiosis. But I can imagine that it could be used in any other strategies including yours..

I use it manualy with entry rules based on totaly different indicators and philosophy that NB entries with succes and i think that with BB connection will it be more succesful.
  • #14
  • Aug 22, 2011 10:50am Aug 22, 2011 10:50am
Quoting cgldsmth
I've got a feeling this would work particularly well at news times.

and the reverse during a quiet market. therefore time/news filters should help.

nice

i noticed that sometimes there were opened more than two trades at a time (TP pending was not filled while next pending was opened). i was not in front of the computer but I think it was caused by news time.. maybe it is my criminal (IBFX US) but I think this problem will happend by almost any broker out there..

So I wouldnt suggest to use it during news. but you can try and see..
  • #15
  • Aug 22, 2011 10:54am Aug 22, 2011 10:54am
Quoting Pooler
Steve et al,

I'm a 2 yr old Newb. I never thought that I'd actually be frustrated by the amount of opportunities that between yourself, Nanningbob and all the other generous traders out there actually create. I just simply can't keep up. What a great problem to have (This is not a complaint--its a huge thank you)

I was one of those typical starters that got introduced to FX by a mate and thought "chuck on one of those $ 97 robots and make money...How difficult can it be". Well, ja right--you guys have seen it all before.

How...
A bit of encouragement for you.

When you first meet them, Bob's ideas are not easy to grasp. Once you have grasped them, you realise how simple they are. His genius lies in constructing these simple systems - any dimwit can construct a system that requires 8 pretty-coloured thingies to line up before a trade is triggered; simplicity is much harder to achieve.

Getting to the point of understanding takes time. Hang on in there until you do finally understand; the rewards are all there for you to gain.

  • #16
  • Aug 22, 2011 10:56am Aug 22, 2011 10:56am
Quoting xxl205
Hello Steve,

after stumbling upon your EA number x for this week, that is one I might also have waited for ... congratulations for your neverending power. But please, do NOT apply for a job as that duracell bunny ^^

There is a grid trader called snowball. Carolco does trade similar to it, but there is a difference you might be willing to think about.

Snowball can be set to long, short or both. If you set it to both, it stays static at the price set. But if you set it to either short OR long, it opens a grid too, but moves the grid levels towards...
Yes you did, and I will give it some thought.

  • #17
  • Aug 22, 2011 10:59am Aug 22, 2011 10:59am
Quoting carolco
As i mentioned earlier in BB thread, this concept was taken from Dreamliner thread named http://www.forexfactory.com/images/misc/paperclip.gif [url="http://www.forexfactory.com/showthread.php?t=70480"]Super...
Yes, I do not particularly intend this as a stand-alone EA. This thread is really about developing its use once a trader decides it is time to trade; developments here I can add into BB.

  • #18
  • Aug 22, 2011 11:03am Aug 22, 2011 11:03am
Quoting carolco
i noticed that sometimes there were opened more than two trades at a time (TP pending was not filled while next pending was opened). i was not in front of the computer but I think it was caused by news time.. maybe it is my criminal (IBFX US) but I think this problem will happend by almost any broker out there..

So I wouldnt suggest to use it during news. but you can try and see..
Yes, people should be aware that pending fill and the various stop prices are not guaranteed by the crims.

For example, if we have a pending buy at 1.5, the previous tick was 1.4999 and the next is 1.5002, then the trade fills at 1.5002 not our required 1.5.

The same is true of stop losses and take profits; trades are closed as near to these as possible; total accuracy is not on offer.

  • #19
  • Aug 23, 2011 2:49am Aug 23, 2011 2:49am
with what i could contribute here is, the issue of gridspacing, because - yeah you should know now - of volatitlity. hehe

it is very effective to pyramiding into trend, but lets decide the market where to put the next grid order. i for myself use an oscillator to decide.

my rules are following. if a trend occours (use NB rules for example) the first gridlevel will be open. then i'll be watching when the next osci-crossing will happen. i only open another order if, all orders have profit and the new levelorder has enough spacing to the last grid-order.

at every new order the last order will set to BE. close the whole grid, if the last order hit BE or (in an upper TF) the trendmomentum slows down.

in range mode take every osci-crossing when last order has +ve and set BE. if a breakout happen, most of the time the 'wrong' order close with BE and the grid starts to develop.

Cheeers

Mediator
  • #20
  • Aug 23, 2011 2:54am Aug 23, 2011 2:54am
Where's 7bit's snowball ea ??? I searched it for a long time,but can't download!Pls help!
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