I read all of the complaints and all of the wonderful capablities of fine tuning this EA, why not have the robot do the opposite. Go long when it initially was suppose to go short and go short when it was progragamed to long. Just reprogram the robot to do the opposite. I am new to robot having to do the trading and I am not a programmer but I can tell you if you can have a program that always loses then you have a program that will always win by just doing the opposite.
Someone tell me it isn't so.
It isnt so..
First, and most obvious, we arent given the code, just the robot. Most commercial robots dont give out their code. Otherwise real programers would tear them apart and just steal their code, which they already do with decompilers. The only robots that offer their code are the free ones on the development forums.
Some of these are good robots, and all are great learning tools, simply because the code is there for us to examine, even if I cant properly read it all.
Other than that the idea of simply reversing the signals is a misstake. This robot is a trend follower. Its designed to be a no loss robot, no stop loss robot.. When it has a strong upper trend it can go for months without a loss simply by holding the trades untill they hit the profit target. But when the trend changes it doesnt react quickly enough and can get stuck holding a bad trade. If you dont actively manage that trade and take your loss quickly you can end up giving back all your gains and more.
If you were to reverse the proccess you would be selling in an up trend and buying in a down trend. With a tight stop loss and no profit target. You would likely see months without a win, and the occaisional reversal which could potentialy make your system. Could you work this way? Do you really think this would be profitable?
Without going as far as reversing the system, simply do your own trend analysis and designate a fixed direction for all the trades. Once a day reevaluate your trend analysis and check any open trades. Set stops, if neccessary. Close all open trades if the upper trend fails, and wait for a confirmed trend before starting new trading.
Its a little bit of work, but this robot did very well when it had a trend.
Still, I think the basic system is flawed. Just like the original ForexAutoPilot, it fails when it tries to time pullbacks with a laging indicator system, often buying the wrong side of the range. But, it often does very well when it ticks off trade after trade in a momentum trend.
I have yet to succeed with this robot or FAPS. (I'm not currently testing them.) No matter how carefull I think I am, they always try to think for themselves and end up doing something stupid when I'm not looking. Both of these robots run on the no stop loss, no losing trades philosophy. As soon as you change that, you change the win loss ratio, and suddenly all those little wins dont add up to the same total. The only way I can think of to use these safely is with a very selective analysis, only putting them on a chart when everything lines up. You need at least two trends in alignment, primary and intermediate, and then you can let the robot play with the minor trends. What constitutes primary and intermediate depends on the time frame your trading.
The basic indicator behind the Steinitz is the Multi Time Frame Smoothed Heiken Ashi Indicator. The problem here is that it is deceiving. When you set it on a low time frame and look at the upper time frame indicator it gives the impression that your seeing multiple bars of that upper time frame, when the actual expanse of time hasnt changed. If your showing 20 bars of time it may be just a few hours, even on the monthly indicator. ie, 20 bars of time on the upper indicator may just be showing a few hours of real time, deceiving you into thinking you have a long term trend when its just one bar. Best to do your own chart analysis, and only use this robot as an aid.