Finding cBots to Trade With
Hello traders and welcome to the cTraders tutorial and the fifth module extras. In this lesson we are going to learn how to find cBots to trade with. And the reason we need to learn how to find cBots to trade with is because, first of all, these cBots right here, these robots right here that are on the cBot tab on the cAlgo platform are samples. If we want to find more cBots we gotta go through the cTDN website which we are going to do right now and to do so, we need to click on this button. Find more cBots or cTDN.
All right, once you click on that button, this is the web page that you are going to be prompted to, the ctdn.com/algos/cbots. And as you can see here, we have a ton of robots that you can download and will test and trade and trade with on your cTrader platform. Now be advised that executing cBots downloaded from this section may result in loss of funds and you have to use them at your own risk because these cBots have not been developed by the cTrader or the cAlgo platform themselves but by other traders and developers. Now let’s go and…The first thing we’re going to do is we’re going to look at some robots right here. This seems all right. This is a pullback strategy on a rangy market and I have revised the pull back to compare previous look back price bar.
Let’s go and let’s take a look at this robot. So this is basically the information that the creator of the robot is giving us. This is based on Larry O’Connor’s strategy that you can read here on this link and back testing with 30 minutes timeframe gives better results, stop-loss zero because the five previous simple moving average is serving us stop-loss. Well I really don’t like this but simply because it doesn’t use a stop-loss and the creator doesn’t even give us a chart or some back test results on it, so we’re going to look for another one.
Okay, so let’s see what seems to be or what looks interesting here on this list. Trail cut, so he bought a trade in and then he had to pay back. That means this robot, this trading robot is derived from the payback strategy. Yeah, this one. Take a look. Program original [inaudible 00:03:11] scalpel.
This is a scalping robot so let’s take a look at it. So let’s see what information the creator is giving us. I use simple moving averages to [inaudible [00:03:23] to find a good trade opportunity. Tested using GBP rates. This symbol on the five minute chart, volume, one lot take profit, three hundred which will mean 30 pips I think. Stop-loss is five pips. Well we should actually take a look at it on the chart but let’s take a look at the results.We have a net profit of 5,300 Euros with an ending equity of 503,000 Euros which the creators tells us that it’s an 11% gain on the account from April 4, 2001 to July 17, 2014.
This is a screenshot of the strategy. So let’s download it and install it on the trading platform. Once you find a robot that you want to test, you should download it and of course add it to your cAlgo platform.
The scalpel robot has been added to the cAlgo platform so we’re going to add the EURO/USD and right here you can see that you can change all of the, well the rules. But basically this how you’re going to be looking for new robots to trade with and how you’re going to be front testing them with…