- Most Forex traders lose all their money.
- Using the robots posted here in trading Forex does not guarantee success.
- Trading these robots could lead to serious financial loss.
- Trading these robots without understanding their underlying trading strategies guarantees traders will lose their money.
- A trading robot is a maximum of 90% as good as the manual strategy it trades:
- just because the manual strategy is profitable does not guarantee the robot will replicate this success.
- if the trading strategy is rubbish, so is the robot.
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Welcome to Simone. Simone is the robot that trades Simone Guy's 'Simple and Consistent Fibonacci Method'.
To understand how this robot works, you need to have traded the system manually first. Visit Simone's 'Simple and Consistent Fibbing Method' thread at http://www.forexfactory.com/showthread.php?t=222988. You do not need to read the thread; view the three videos in post one. View them until you can teach the use of the fibs to an imaginary student. Download the pdf that explains her method as well; this is a most useful read. After that, cut to the last few pages and read a few of aswilled's brilliant trade analyses.
I have added some extra sauce to Simone; please read the user guide for details.
This robot is the culmination of over 18 months personal development as a trader and coder through a variety of threads. I have long known that Fibs are the long-term way forward in trading, but could never quite work out the best way to use them. Simone Guy has provided the missing link. I traded her system manually last week whilst coding this robot; I made a lot of pips.
Those of you familiar with my work will notice the absense of screen feedback. I have left this out because the chart is already crowded, especially if the htf fibs are included.
Future development
Simone the robot trades 'basic Simone' + a trend direction filter i.e.
- Draw the Intraday fib
- Draw the breech fib
- Trade at a break of the 50% in the direction of the higher trend.
We need to consider ways of incorporating other tools at our disposal:
- The higher time frame fibs that Simone can draw for you – see user guide
- Trendlines etc
At some stage soon, I shall add code that allows different line lengths for the fibs to alleviate the problem of some of the levels being obscured. Simone's graphics are based on code provided by other coders – she is a collaborative effort. Luke is already looking at this; it involves hand-coding the fibs using trend lines, which is much more complicated than drawing them as a fib object.
Bugs
There could be a few bugs lurking in the undergrowth but there should not be many; Please report any that do crop up here. I developed Simone in my Epsilon Megastar thread and she has been well tested. Some seriously clever and talented people have contributed code when I have been stuck. I have sufficient faith that the basics are correct that I am putting Simone on a live account on Monday.
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.
Traders 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.
For new/confused traders, I have set up a partner thread to this one where you can ask your questions -
http://www.forexfactory.com/showthre...89#post3727389
I started this for Epsilon Megastar contributors, so we can adopt it here.
Robot check list
Here is a list of how Simone is intended to behave:
- Ascertain a trend direction when required and only trade in that direction
- Intraday fib:
- re-draw after a new hi-low is confirmed by a pull back to the 80.9/19.1
- re-draw after reaching T1 after even the slightest pull back
- Breech fib:
- Re-draw after a trade is taken, so that the breech pivot is always ahead of the market
- there will not always be a previous higher high/lower low on the 15M chart. In this case, Simone will cycle through successively higher tf's until it finds one. There is not yet any code to deal with the eventuality that the market is at an all-time hi-lo.
- The re-drawn breech pivot should be at least the minimum number of pips away from the old one, as specified in the inputs.
- Re-draw after a trade is taken, so that the breech pivot is always ahead of the market
- Trading:
- Trade only during your specified trading hours
- Trade on a clean break of the breech pivot when the previous candle opened on the opposite side.
- Take profit is T1 +- the tolerance described in the user guide.
- Stop loss is R1/S1. I can build a few pips extra into this if required, so that the stop loss is placed slightly beyond these levels.
- When subsequent additional trades are taken, move the stop loss of the previous ones as specified in SG's thread.
- Will adjust the tp's following a re-draw of the Intraday fib leading to a higher T1.
I have coded vast numbers of trading robots in the last couple of years. Two of these appear to have some legs and are being traded live. Go to:
- http://www.forexfactory.com/showthread.php?t=233305 and download Steve Hopwood's Super_Signal auto trading robot.This one is a prime candidate for one of my live accounts.
- http://www.forexfactory.com/showthread.php?t=216557 and download Steve Hopwood's BS Moving Average and MACD combo.mq4
Installing updated versions of Simone
Nick has posted code that allows updated versions of Simone to retain your individual chart magic numbers (the charts do not need individual numbers but some people like having them for analysis purposes) and trading time settings. This means you can set up your individual charts happy in the knowledge that you will not have to re-set the inputs with every update. To update Her Royal Highness:
- close down your platform
- download the update
- restart the platform
Voila, individual settings retained. Breathtaking. Cheers Nick. You are a star. Everyone, please read Nick's post at http://www.forexfactory.com/showpost...&postcount=238 I have started attaching the .exe file to try to help those who experience difficulty with crashes.
Honours Board
This is my way of permanently saying thanks to those who have contributed to the coding of Simone (the robot that is, not Simone herself ).
Simone is the result of collaboration between a number of individuals. No's 1 & 2 in this list are immutable. The rest occur in no particular order and I am deeply grateful to you for the code/ideas/enlightenment/expertise you have provided:
- Simone Guy: without your strategy the robot could not have existed.
- Pathumracled: unless you had brought Simone's thread to my attention, the robot would never have been born.
- Nick (grandhombre)
- KnightHigh
- Luke (hndyman)
- scoobydoo
- rfking2
Let's see what kind of a pip-crunching monster we can develop here.