Round number auto-trading EA by SteveHopwood

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 strategy guarantees traders will lose their money.
5. 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.

 

1. OK, put on lines at all round numbers, then one line 15 pips above round number, and one 15 pips below.
2. Now when price comes down to the 15 pip line above round #, EA opens 2 orders sell.
   1. First order closes when it reaches round #,
   2. 2nd order stays on with an 15 pip trail stop.

3. Buy if price is moving up.
4. 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.

subscribed .... will post inputs later...off for sun now

Please show the backtest result for at least 3 years here. thanks

Hi Steve...

maybe you can try this...I've tested it with another platform, never used but it gives me positive results in the long term...

The strategy is tested only on GBPUSD, and it has a poor risk/reward, I know...but a high win rate.

1) place your Round Numbers on the chart (only for example 1.6000, 1.6100 and not middle round numbers like 1.60500)

2) use time frame 1H on GBPUSD

3) when price touches the Round Number enter the trade in the direction of the round number (for example if the price comes from 1.5980 open a long at 1.6000)

4) place a stoploss of 50 pips BUT don't insert take profit....but wait until the 1H candle closes (this is the major trick with this strategy)

5) If the candle goes to +20 pips from entry....move stop to Break Even

6) when the candle closes check:

* if (candle close - entry price) > 10 pips: close the trade in profit (it can be +10 pips, or +20 pips, or +34 pips...depending on the 1h candle)

* if (candle close - entry price) < 10 pips : place your TP at +10 pips from entry

As I said the risk/reward is not good...but you will lose 50 when stop is hit, and you will gain minimum 10 when TP is hit (but sometimes you will gain more, depending on where the 1H candle closes)

I hope all is clear...sorry but english is not my mother language.

Here is the equity that Strategy Trader gives me with this strategy, the equity doesn't include the spread (that can make big difference) and it's not compounded.

There was a similar idea and EA here not too long ago... :-

http://www.forexfactory.com/showthread.php?t=255575

[quote=Chris_B;4518039]Hi Steve...

maybe you can try this...I've tested it with another platform, never used but it gives me positive results in the long term...

The strategy is tested only on GBPUSD, and it has a poor risk/reward, I know...but a high win rate.

[quote]

Did you use an EA for the Startegy Tester?

Cheers

Pat

[quote=Pat1;4518195][quote=Chris_B;4518039]Hi Steve...

maybe you can try this...I've tested it with another platform, never used but it gives me positive results in the long term...

The strategy is tested only on GBPUSD, and it has a poor risk/reward, I know...but a high win rate.


It's not Strategy Tester but Strategy Trader...the platform from FXCM...

you can backtest with spreads in STrader. just load the bid and ask data in the same chart and change the strategy settings to include bid/ask prices in the backtest. enable BAR MAGIFIER and set it to minute charts. can you post the file here so I can play with it? thanks.

Hello
I'm new on this forum and i want to congratulate you for everything you do here.
Steve seems a natural phenomenon like tornadoes ... Phenomenal energy, dedication and selflessness... Seems to good to be true
Being a woman ... I like round numbers and it seems that their attraction is not limited to me ...

Lately, though I`m not accustomed to using EA, I played a bit with this robot.
The results seem very interesting and I think with some improvements, could be a fun EA.

Do not dare to directly contact Mr. Steve, but perhaps somebody can help me and do a small favor to introduce some changes?

1) TP settable properties menu (now the robot puts the TP at round number but does not consider the spread. I would like to have TP = round numbers -/+ spread)
2) A pre - adjustable trigger in properties menu (I want Steve's trigger to become active only if the price moved away from round number with X pips
3) A possibility to to allow(or not) the opening of a new order if conditions recommended even if you have a order active.
4) Move the SL to BE as soon as conditions permit

And ... I would be more than happy if we had a similar robot that uses the opening price at the day(ODL).

Thank you very much

PS: I`m sorry for my english...

Still no answer...
Ok. Please view this statement (forward testing for Round Numbers and Aurora)
Doesn`t look interesting? Any opinions?

Thank you

http://www.mt4i.com/users/wolf999

nice results ... may be looking at your demo (?) acc Steve will return to this EA ? BUT - he has so much of them in development ... not sure ... I think he won't ... at least soon he won't ... but let's see may be he'll stop by here ?

I independently wrote a similar round number EA and was able to coerce it into profitability by fooling around with SL/TP values. My major concern was I had optimized it in backtest and it wouldn't work in forward test.

Like OP I had bigger fish to fry so my round number EA is currently on the back burner.

I have tried round number trading manually with 9 SMA using H1 between 4am and 7am (London time) only.

I use 40 pips SL (initially) and TP of 60-70 pips. If H1 candle hits a round number but does not pass it (see the wick size too) and closes below the round number I open a short order and vice versa for long.

If price goes against me I open opposite trade once H1 candle close is above or below the round number by some 10-15 pips and close the open trade.

See if someone can make it work through this EA.