- 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 will require manual intervention when a 'death run' against you occurs.
- 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 lethal nature of Martingale trading.
- The lethal nature of Martingale trading.
Awesome
This is not a ludicrous claim by me about the power of the EA. I have named the robot to reflect the pdf that posits the system it trades. Read about the system in the pdf; once you get your head around it, it is as easy as shelling peas.
I have run this ea on demo for a couple of weeks; it takes its +30 pips several times a day. The downside is the size that trading lots can reach using the Martingale principle of doubling up the lot size of the losing trade.
Having said that, I have yet to see a scary lot size on my demo account. We shall see; it will be a long time before I risk this on a live account. It might be worthwhile bunging $100 in a penny account and seeing if it can grow. Do not run this ea on a more substantial account; the account will get killed eventually.
The bot offers a variety of options to enter the first trade in the sequence; leave these at default if you are clueless.
There is a Martingale multiplier input; leave this set to zero to go with the default posited in the pdf.
SleepMinsAfterClosure allows you to send Awesome to sleep after a successful TP. Leave this set to zero to be 'always in' the market.
Set CriminalIsECN to true if your crim is a two-stage crim; if clueless, leave the default in place.
I use Bollinger Bands as a volatility filter; +30 is much easier to achieve if the markets are moving.
Basically, if you are clueless dump the ea onto an EU demo, accept the defaults and watch what happens.
The author of the pdf has made the document freely available in the hope that people using it will visit his website and sign up for a live account through him. I would love to let him have a copy of the ea, but to do so requires registering with yet another forex website, and I simply cannot be bothered. If anybody registered there could point him to this post, that would be nice.
I decided to try this live. I have one of those strange forex4you accounts where you can trade like a prince with no cash - $40.00 appears in the display as $40000.00. If only.
I use it for trying out ridiculous ideas without having to worry about the cash, so I have bunged Awesome onto it. I gradually worked my way through the initial deposit so there is very little left, but the curious can follow Awesome's progress or otherwise at
http://www.myfxbook.com/members/Stev...1652326/138869
Have fun.
So far, so good and so easy; now to muddy the waters a little. Read this thread at http://www.forexfactory.com/showthread.php?t=302007 the this one at http://www.forexfactory.com/showthread.php?t=304770 to see how I started to develop tools for fh's method, development that sq has taken over.
Last night, sq suggested using breakout from the box to trigger Awesome's trades, so I hacked his code and added it to Awesome, to create the Awesome with fh version. There are a few things to note about this:
- fh has said that he looks for a minimum cz box of 25 M15 candles. I am demoing this version on the M15 chart, so BoxLength is set to 6 as sq's indi multiplies this figure by 4 to ascertain the correct number of bars for the box
- there is a filter in this version that will only allow it to trade if there are no other trades open, so:
- you can put it on as many charts as you wish; a new sequence will not start if there is already a different one in place. Only use pairs with as small a spread as possible - Awesome displays the current spread.
- you can not trade this ea on an account that you use to trade other systems
- the ea does not draw historical boxes. It starts looking for the formation of a new box at startup. If you restart the bot during a box formation, that box will be lost.
Useful utilities/EA's/scripts
- 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.
Most promising trading EA's
- Rip: http://www.forexfactory.com/showthre...98#post4777998
- The Beast: http://www.forexfactory.com/showthre...=1#post4135863
- Pippo: http://www.forexfactory.com/showthre...96#post4675196
- Reversi: http://www.forexfactory.com/showthread.php?t=294255
- Ibuks: http://www.forexfactory.com/showthre...88#post4656888
- FTLR: http://www.forexfactory.com/showthre...85#post3831885
_________________________________________________________________________________
Posting restrictions
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. 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.