The Snake Charmer is a fully automated trading robot using a proprietary trading model combining Bollinger Bands and Moving Average indicators.

Suggested Parameters*

BB Period = 14
BB Deviation = 2
MA Period = 28
Pair = EURUSD
Compression = 30 min
Order Size = 75,000 to 100,000 units per $10,000 account balance
Stop Loss = 60 pips
Take Profit = 120 pips

Risk Management:*

Risk per Trade (%):  risk percent of available margin, determines trade size
Min. trade size (lots): smallest trade size
Trade Size step (lots): amount to increment trade size
Standard lot size ($): 100,000 units for most brokers
One pip price ($): varies per currency pair.

*Advanced risk management parameters are available for experimentation. When Risk per Trade (%) is set to “0”, advanced risk management parameters are not applied. Otherwise, order size is based on these settings and overrides those set elsewhere.

BackTesting Mode

Fast/Hidden Compatible = Yes

Forum Discussion - Click here to discuss tips, suggestions and ideas with other traders.

*The suggested settings are based on historical backtesting for the year 2009. As the market changes, these parameters may also require changing. We recommend discussing optimization ideas with others on the FxSpyder Forum. Always keep in mind that past results are no guarantee of future results.