NutCracker Developer: Roman Movchan (Australia) Currency: EURUSD Timeframe: M5 Strategy Description: NutCracker consists of 2 strategies which work independently. The main strength of Nutcracker is its combination of a long-term and a short-term strategy. The long-term strategy relies on longer-term trends, and trades that it opens last usually for several days. No take profit is used and trades are closed only when the target profit is achieved and internal exit criteria are met. The short-term strategy looks for shorter-term trends and spikes and uses a dynamic take profit and relatively small stop loss - it also uses time filters to avoid trading at high risk hours. NutCracker has built-in money management - the lot size is calculated based on the available free margin. Since multiple trades can be open in both directions at the same time, the lot size when opening a new trade is increased to compensate for trades that go in the opposite direction which means that the total lot size of trades that go with the current trend is always greater than that of trades that go against it.
About the developer I am a professional software developer. I had some experience with writing EAs before the FRWC, but I never spent enough time to produce something worthwhile. My family considered this a useless and dangerous hobby but when I received the email about the competition I focused on creating an EA to meet the selection criteria. The first two submissions I made didn't quite fit the bill - only after I decided to combine the long-term and short-term strategies into one EA did I have any success and the EA was approved. Even though the live results are not as good as the back-test results, they were good enough to take a place in the top 10. I now have the support of my family and the confidence to continue working in this area. Broker Choice NutCracker is a rather risky EA in our opinion is that the starting fixed lot size should be 0.01 so try to ensure that you use this EA on an account which supports micro lots (0.01 lots). How to install this robot Simply attach the EA to a EURUSD M5 chart. Set UseMM to False and set Lot to 0.01, even if you have large account. Nutcracker can increase the lot size by a factor of 20 at times, so be careful.
Robot Settings Mid-trade money management is built-in and cannot be disabled. This means that even if you set UseMM to False, the EA will increase lot sizes according to its strategy until the open trades can be closed! Remember to use our safe trading rule: Lot set to 0.01 and UseMM set to False. PlimusRefNr this is your Plimus Reference Number from your purchase receipt and is required to activate the EA. For your convenience, we display your Plimus Reference Number within the FRWC member area when you log in to your account UseMM if True, initial position money management will be enabled to determine the lot size of the initial order. This is not the same as additional position money management which works totally independently and is based on the size of any current open orders. Once an initial order has opened, even if you set this option to False, the additional position money management will continue to increase the size of subsequent orders until the position can be closed and the process restarted, so be careful! Slippage sets the maximum slippage allowed when opening and closing trades Risk defines the risk level for the Money Management system Lot the initial lot size. Ensure that your account allows micro lots and set this to 0.01 MinProfit any trades which reach the profit target specified here and satisfy the exit criteria will be closed automatically StopLoss1/2 these are the StopLoss values used by the internal strategies GMToffset defines the offset of your broker relative to GMT. This should be set to 1 for FXCM, IamFX and Alpari. If in doubt, your broker will confirm their GMT offset StartHour/EndHour specifies the trading window for this EA FridayEndHour limits the trading time on Fridays
MagicNumber this allows the EA to identify its own trades if you are using several EAs and/or manual strategies on one account
Nutcracker Back-tests A rather good back-test (if you follow the safe trading rule) Lot set to 0.01 and UseMM set to False. You can study the detailed back-test report here: http://www.forex-robot-world-cup.com/frwc_backtests/nutcracker_2009_2010.htm NutCracker Live Trading NutCracker performed well during the live trading stage of the competition, achieving 14.93% profit. You can study the detailed live trading report here: http://www.forex-robot-world-cup.com/results.php?id=17&name=nutcracker