BUSTED - GT Shadow forex robot review - 4 brokerages at once!

[jerrycollie]

Hi Kanakorn,
I believe the strategy in hedging is to use 2 very similar pairs. So if you are hedging EUR/CHF, I would suggest using GBP/CHF. Someone please correct me if I am wrong.
Good luck!

[jerrycollie]

Hi Adubasu,
The developers are working on a new manual. In the meantime most of us are still learning just like you are. So experiment. Here is what I would do:
I don't think it matters which pair you set to buy/sell, use either one. Use the default settings, same as AUD/NZD, for now. Set this up on a demo account; because I would not put up any money until you get familiar with hedging. Put your robot on the chart of the buy/sell pair; but also bring the chart of the other pair up onto your screen. Set both charts to 1 hour time frame. You need both charts on your screen; since the robot needs to be able to read updated info from the MT4 for both pairs. MT4 won't update info unless the charts are up on the screen.
Also, go back to page 6 and read what SuperTrader has to say there. He has some good ideas everyone should check out. Thanks SuperTrader!

[jerrycollie]

Hi again Adubasu,
In reviewing the GT-S manual, I see I made some mistakes in my previous comment to you. So let's take an example of my hedge of GBP/CHF vs EUR/CHF:
Here are my settings:
Display Level 0
Unlock code (Use the code they gave you when you bought this robot)
Do Trades true
Block negative close true
Allow for spread true
Close all open orders false
Instances 200
This is the range bottom of GBP/CHF 1.5000 - top 2.5000 = 1.0000 / Range 50 = 200
First Instance 1
Trade range 50
Gap between 0
Range start 1.5 This is the bottom of GBP/CHF = 1.5000
Forward end 90 We stop buying here.
Reverse start 110 We start selling here. We don't trade the middle 20.
Shift 0
Trade window 5

Use dynamic grid false We don't use this, so skip this section down to ...

Stop Loss 0
Show take profit true
Delay take profit true
Maximum spread 0.0
Use Equity false
Account balance 0.0
Margin 0.25
Use margin percent true
Balance factor 1000
decimals 2 Assuming your broker uses 2 decimals in lot size.
Slippage 16 Lots of slippage so that we can get out of a trade easily.
Enable error messages true
Enable fast back tests false
Standard balance 1000.0
Standard Marin 5.0
Shadow Currency1 GBPCHF All capitals. No slash mark allowed.
Shadow currency1 Buy true
Shadow currency1 Sell false
Shadowopen1 1.5 Again this is the bottom of the range 1.500
Shadow currency2 EURCHF
Shadow currency2 Buy true
Shadow currency2 Sell false
Shadow open2 1.425 This is the bottom of the EURCHF range .

Currency1 GBPCHF
Currency1 Buy true
Currency1 Sell false
Currency2 EURCHF
Currency 2 Buy true
Currency 2 Sell false
Lots1 0.01 Here we set our lot size, instead of letting the robot calculate it.
Lots2 0.01 Lot size of EURCHF.
Magic number1 100001
Magic number2 200001 Do not change magic numbers, unless necessary.
It would be necessary if you ran this robot on another chart of GBP/CHF or EUR/CHF
Check for half hedge true

Okay, that is it. Except I don't know whether or not a copy needs to be dropped on EUR/CHF as well. So I made another exact copy and dropped it on EUR/CHF.
Use the "Save" command on the robot's properties page to save a copy and the "Load" command to load it onto the second robot. Anyway this is what I am running. I don't have any results yet.
Good luck!

[jerrycollie]

Hi again Adubasu,
If you get an error message saying "Magic number conflict with another pair"
Then go back to your chart of the first 1 hedging pair, open the robot's properties page and change the 2 magic numbers from
100001
200001
to the numbers:
300003
400004
or what ever numbers work to get rid of the Magic number conflict.
Save this using the save button.
Then go to your chart of the second 2 hedging pair, open the properties page of that robot and load the properties you saved from robot 1 into robot 2; so that they are identical. Make sure both robots have smiley faces and there are no more error messages showing on either chart.
I got this Magic number conflict error message; because I had another copy of GT-Shadon running on the AUD/NZD pair.

[kanakorn]

Originally Posted by jerrycollie

Hi again Adubasu,
In reviewing the GT-S manual, I see I made some mistakes in my previous comment to you. So let's take an example of my hedge of GBP/CHF vs EUR/CHF:
Here are my settings:
Display Level 0
Unlock code (Use the code they gave you when you bought this robot)
Do Trades true
Block negative close true
Allow for spread true
Close all open orders false
Instances 200
This is the range bottom of GBP/CHF 1.5000 - top 2.5000 = 1.0000 / Range 50 = 200
First Instance 1
Trade range 50
Gap between 0
Range start 1.5 This is the bottom of GBP/CHF = 1.5000
Forward end 90 We stop buying here.
Reverse start 110 We start selling here. We don't trade the middle 20.
Shift 0
Trade window 5

Use dynamic grid false We don't use this, so skip this section down to ...

Stop Loss 0
Show take profit true
Delay take profit true
Maximum spread 0.0
Use Equity false
Account balance 0.0
Margin 0.25
Use margin percent true
Balance factor 1000
decimals 2 Assuming your broker uses 2 decimals in lot size.
Slippage 16 Lots of slippage so that we can get out of a trade easily.
Enable error messages true
Enable fast back tests false
Standard balance 1000.0
Standard Marin 5.0
Shadow Currency1 GBPCHF All capitals. No slash mark allowed.
Shadow currency1 Buy true
Shadow currency1 Sell false
Shadowopen1 1.5 Again this is the bottom of the range 1.500
Shadow currency2 EURCHF
Shadow currency2 Buy true
Shadow currency2 Sell false
Shadow open2 1.425 This is the bottom of the EURCHF range .

Currency1 GBPCHF
Currency1 Buy true
Currency1 Sell false
Currency2 EURCHF
Currency 2 Buy true
Currency 2 Sell false
Lots1 0.01 Here we set our lot size, instead of letting the robot calculate it.
Lots2 0.01 Lot size of EURCHF.
Magic number1 100001
Magic number2 200001 Do not change magic numbers, unless necessary.
It would be necessary if you ran this robot on another chart of GBP/CHF or EUR/CHF
Check for half hedge true

Okay, that is it. Except I don't know whether or not a copy needs to be dropped on EUR/CHF as well. So I made another exact copy and dropped it on EUR/CHF.
Use the "Save" command on the robot's properties page to save a copy and the "Load" command to load it onto the second robot. Anyway this is what I am running. I don't have any results yet.
Good luck!

why i cannot run this setting on GBPCHF chart 1H? no show detail on window. please help me.

[only20gp]

hi there guys, i am alittle confused about FXDD swap . My question is, will we get positive swap on FXDD when selling and buying or negative? I noticed on the GT-Shadow review on the 03-09 statment there are both positive and negative swaps on selling audnzd.

can someone please explain that to me. thanks in advance.

[jerrycollie]

Hi Only20gp,
You bring up a good point . We have to pay the swap when we sell AUD/NZD. However, to follow the logic of GT-Shadow, we do have to sell AUD/NZD.
Okay, when you swap two currencies with a difference in interest rates you have to pay the difference or be paid the difference, depending on whether you sold or bought the high interest currency .
Currently the interest rate on the Audie is 3.00% (base rate per year). The rate on the New Zealand Kiwi is 2.50%; so we must pay the swap when we sell the pair short ; since we are selling AUD and buying NZD. The reason you may have seen the reverse is because the interest rate on the Kiwi used to be higher than the interest on the Audie. Interest rates can change every month when a country's central bank meets to decide the rate for the next month.
The other interest rates of concern to us are EUR = 1.00%, GBP = .50%,
USD, CAD , and CHF = .25%, and JPY = .10%.
Ideally we would buy the high interest rate currencies, i.e. AUD; and sell the low interest rate currencies, i.e. JPY. This is called the carry trade .

[jerrycollie]

Hi Adubasu,
Ooops, dropping a second copy of my robot onto currency2 did not work. When one robot would buy, the other robot would immediately sell the same pair. When one robot would sell, the other robot would immediately buy. So I removed the second robot on currency2. Curriously the 2 robots made money doing this foolish thing.

[supertrader]

I posted a while ago how you can trade alternative currencies like AUDJPY & USDJPY. I have stopped trading the AUDJPY as it has moved quite a lot from historic lows and i can not hold on to open trades if it revisits. USDJPY has seen great results up 13% in 5 weeks. This is due to the volatility in this pair.

I have also now setup GT shadow to trade short only the EURGBP between 0.82 and 0.95.

EURCHF I have stopped trading as it seems very stuck at the moment.

[pipdetector]

Indeed EURCHF is moving in so close range that GT Shadow hardly scores any trades...