- 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:
- How to use EA's.
- Stchastic and Moving Average indicators.
DO NOT USE THIS EA ON A LIVE ACCOUNT. IT IS EXPERIMENTAL.
Ben (burn) contacted me by pm to ask me to code an ea to trade his sytem. This is what he wanted:
"What I'm looking to do is having a 50ema & Stochastic on the chart & for the EA to open a buy order when the ma is sloping up & the stochastic breaks out from oversold & to open a sell order when the ma is sloping down & the stochastic breaks out from overbought"
I like stoch and so coded this.
It has peformed well on demo this week.
5 EMA Crosses EMA 10
In his pm, Ben stated that he is trading his sytem on M30 charts, sl 40 and tp 20, so I expected the ea to get murdered. Far from it; it has been profitable on demo.
Do not expect many trades - this one is not a trading tart.
Early days etc, but I have yet to suffer a loser - and yes, I was as inwardly scathing of the r:r that the rest of you are. The fact that this EA has even made it to my demo machine says everything to those of you familiar with my work.
The EA needs the AllAverages indi to reside in your indi folder (and isn't this indi proving to be something of a Godsend?).
You do not need it on your chart.
Stop loss and take profit benefit from Stealth Technology; trades are closed when the market crosses the tp/sl lines.
Matters of generalinterest
Read this post:
http://www.forexfactory.com/showthre...11#post4923611 Newbie traders, read this for inspiration and warning.
Those of you who have suffered losses, read it for inspiration.
Masterly summary of hedging: http://www.forexfactory.com/showthre...79#post4977179
- 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
- My shell EA – the code I use to produce EA's so quickly. http://www.forexfactory.com/showthre...94#post4431794
Most promising trading EA's
I am trading this live. http://www.forexfactory.com/showthread.php?t=313680
- BigBob: an implementation of Nanningbob V10.
Trade logic of this forex robot
http://www.forexfactory.com/showthread.php?t=309980. The strategy is fantastic and I am having a ball trading a variation of it manually.
- Aurora, a PwR-based EU scalper at http://www.forexfactory.com/showthread.php?t=312936 has made a brilliant start.
- 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
I have restricted the ability to post in this thread to: traders with at least 1 voucher; and traders on my 'buddy' list.
I have done this because I do not want the thread cluttered with 'newbie' questions about the basics. New/inexperienced traders, this is not intended as a direct insult.
What I want here is discussion with traders who fully understand what it is they are doing; when you newbs have been around a while, you will come to understand what a difference experience makes to the posts a member writes and shudder at the recollection of some of the questions you asked.
I do. http://cdn.forexfactory.com/images/s..._the_floor.gif Go to your profile page; there is a link to the FF page that describes the voucher process.
Do not attempt to get around this by sending me pm's asking for help with your basic problems. Doing so will earn you an automatic ban from all of my threads.
I have set up a partner to my restricted threads at http://www.forexfactory.com/showthre...66#post3948666
There, you can post the questions that you cannot post here, about anything you need to know.
About the Stochastic Oscillator
Someone with the knowledge and experience you need will answer.
Traders/coders with experience who have not yet been vouched for, can get around this restriction be being added to my 'buddy' list; all you have to do is pm me to ask me to do this.