- 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 strategies guarantees traders will lose their money.
- 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.
- 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.
- To trade this robot, you have to understand:
- the CCI indicator
DO NOT USE THIS EA ON A LIVE ACCOUNT. I have no idea whether this strategy works as I have not traded it on demo - I do not understand what CCI does, so I would have to Google it first.
I received this in a pm from umpats:
This strategy i tested with last 3 month and almost 90% i win and remaining 10% also no profit no loss with all the currency pair.
If possible then make a EA this as per below:
When 4H candle close at that time check the CCI(14) angle is up (between 12 to 2 ) + same time 1H ,CCI(14) angle is also up and + same time 5 min , CCI(14) is also up then enter the buy trade with TP is 20 .
same for the sell entry all three timeframe CCI angle is down(between 4 to 6) with same TP 20.
after 1 hour if it not reach the TP then close all the trade with profit or loss.
in this strategy i most of time win , only very less loss.
in short 4H CCI +1H CCI +5 M CCI is up then enter buy and reverse for sell.
Mr. Steve if possible then make this EA which is i think very profitable and it works with all the currency.
I have made most of the parameters into user inputs, so you guys can tinker with them as you please. CloseTradeMinutes is the time in minutes to allow the trade to stay open, assuming it does not hit tp in this time.
The bot is coded to trade once every H4 candle only.
Filters to help avoid over-trading
You will find all the usual margin filters to avoid overtrading. Regular users of my ea's will notice the swap filter is absent; as the trades are only open for 1 hour at most, the filter is not necessary.
- UseZeljko: this ensures that a second trade including one of the currencies already being traded is 'balanced. The easiest way to explain this is with an example:
- Buy GBPxxx open, so only sell GBPxxx. So, if the buy is GBPUSD, then only sell GBPJPY, GBPCHF etc. The rationale is that forex markets are highly sensitive to big movements caused by international events. If something drastic hits the GBP and you are in two sell positions, then both are heading horribly into drawdown. If one of the trades is a buy and the other a sell, then one is going down the tube but its balancing buy is heading for the stratosphere.
- OnlyTradeCurrencyTwice: using the balanced pair example, the GBP is now involved in two balanced trades. Another trade involving the pound will unbalance the trades and leave the trader exposed to a horrible counter-movement. This filter prevents the GBP from being involved in any further trading of different pairs. It also operates at pending-trade sending time and will prevent the pending being sent if it would violate this filter.
- ForexKiwi: will stop trading if your margin percent drops below your selected input in FkMinimumMarginPercent.
- MaryJane has posted a fabulous utility to allow us to resize EA input windows: http://www.forexfactory.com/showthread.php?t=299017
- Multi purpose trade manager: http://www.forexfactory.com/showthread.php?t=89371
- 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.
- 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
- BigBob: an implementation of Nanningbob V10. http://www.forexfactory.com/showthread.php?t=309980. The strategy is fantastic and I am having a ball trading it manually. The EA is the most promising I have coded so far.
- Trendy: http://www.forexfactory.com/showthre...82#post4840182, but should be left behind by BigBob.
- Reversi: http://www.forexfactory.com/showthread.php?t=294255 – I have traded this live.
- Rip: http://www.forexfactory.com/showthre...98#post4777998
- The Beast: http://www.forexfactory.com/showthre...=1#post4135863