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Caillou: another always-in auto-trader by SteveHopwood

SERIOUS WARNING

• 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 strategy guarantees traders will lose their money.
  

I received this pm from Caillou:
".............................. .. The idea is extremely simple:

1.- When we attach the EA to a chart (EUR/USD, M1 for example), the EA takes the current price as a start price.

2.- Then, at the close of the bar, if price is above start price, it opens a buy order, if price is below a sell order.

3.- Then at the close of each bar, if price is above start price and all
previous buy orders are in profit, it opens a new buy order. If price
is below start price and all previous sell orders are in profit, it
opens a new sell order. Obviously, non US brokers are needed.

4.- All orders will be closed when P/L reaches the profit target and we start again. No SL, just perfect hedge.

A few months ago other members and me tested this version with mixed
results but on higher TF (1H) and higher profit target (100.-$).

I have tested it for 3 days (yes only 3 days), 24h, in EUR/USD, M1,
10.000.-$ account, Alpari UK, demo and live, and profit target: 10$ with
these results: account up 9%, and the most important: max DD only 2,45%
!!!!!

With such a small target, baskets are closed usually extremely quickly,
in M1 we need a really small price movement for that and we adapt to any
changing market really quickly."

Experimental stuff
All of this can be turned off by using the defaults.

I was playing out with strategy tester today:

• WithTrendLotMultiplier: this assumes that trades in the
  direction of the underlying trend are more likely to be successful than
  those against it. If you are using the Rsi trend thingy, then you can
  use this input to multiply the lot size of the post trade 1 trades;
  theoretically it will allow a basket to close more quickly. Probably
  causes more crash-and-burn than anything else, but perhaps worth playing
  with.
  
• SingleTradeProfitTarget: if >0, this will prevent the bot sending
  a second trade if the first one is in profit. Allied with the Rsi trend
  thingy, this means the with-trend trade is profitable and so extra
  entries are not needed. SingleTradeProfitTarget is a hidden tp in these
  circumstances. It might be worthwhile setting this figure very high and
  using mptm to manage the stops.
  

All this came about because I found that the H4 EU avoided the
crash-and-burn of the M1 chart. All we can do is play with the inputs
and see what suits us.


Alternative versions
magft has added a version with a few tweaks. Read about it at http://www.forexfactory.com/showpost...&postcount=130, then download the latest from http://www.forexfactory.com/showpost...&postcount=132

gspe's version with Fractals: http://www.forexfactory.com/showthre...40#post4617240

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