About
I am a professional Forex trader. Hercules was my first EA based on one of my more
profitable trading models. The version entered in this competition is a stripped down
version of the actual EA. It should be very difficult to beat in a trending market.
It is designed to catch and follow large moves. But due to its tight stops, and its
ability to close open positions and switch directions when necessary, it remains fairly
agile and is able to gain profits in a variety of market conditions. I think the foundation
for any good EA must be a very favorable risk/reward ratio... over time its survival
will depend upon it.
Good Luck and Happy Trading!
Vince (2006)
This year my EA 'Hermes' is quite different from l Hercules. While it is still designed to catch and enter in on price breakouts the trigger itself is quite a bit more selective and is supported by several layers of filters designed to improve the accuracy of the EA. Basically Hermes finds instances of RSI divergence and then decides whether to fade or follow the market at these locations. Divergences between the RSI and price action provide very good entry opportunities becasuse risk can be easily managed. Since the market has entered into a pure pass/fail scenario, losses can be exited quite quickly once it becomes obvious that the market has broken in the opposite direction of the position. When analyzing divergence Hermes checks for trends, looks for possible rally exhaustion, and measures the underlying strength in the market. Once it has made a decision regarding bias, pending stop orders are placed to allow the price action a chance to confirm Hermes' bias.
Once again, Good Luck and Happy Trading to All.
Vince (2007) DISQUALIFIED
This year, my EA 'Aires' is designed to trade breakouts based mainly on the Fractal Channel and Schaff Trend Cycle indicators. It has no range trading capability so it requires trend conditons in order to acquire profits. Once agian, at its foundation you will find an extremely favorable risk:reward ratio.
Good Luck and Happy Trading to All!!!
Vince (2008)
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