Is This My Holy Grail EA :D

I'm using the "MACD with Signal Only" indicator that you posted on the last page. It wasn't just the MACD that was above the 15 line, all of my indicators (red, white, blue, gold) were hovering around the 17 - 18 area. I'm not worried about it.

For EUR/AUD, I turned my Sell EA on last night and when I awoke this morning it had entered a trade, I think I was down 5 pips at the time. When I get home from work I'll check to see where price is.

From looking at my web based charts though, it looks like it's consolidating. It's been rangebound on the daily since mid-May and we're now getting to the top of that range. So we've got consolidation, overbought indicators, and major resistance at 6500....

I just noticed in your pic above that you're using 100 TP +30. Are you just testing out the new step ratio? If so, how's it going?

Closed the following trades. aud/usd +31 red went up but not white or blue. Since it did not move during the aud session I decided to close for profit instead of holding it all day and it sitting there. Will reconsider it at the US open in the morning.

Closed eur/cad (pic 1) this pair went 6 levels deep on me and had retraced into a decent profit. Didnt want to risk it going up again all day so I took +47 pips. I then reentered but the EA wont enter until it crosses the 2MA which is the Aqua line on the chart. If it continues to go up I am now safe, if it goes down I still make more profit.

Closed nzd/usd +15 red and white near the +100 plus did not go anywhere during the nzd session

Closed USD/JPY +14 red went down but not the white of blue (pic 2)

Total for the day 107 pips.

When I state the total pip profit I only count the last entry not all levels. The eur cad actually went -178 pips against me yesterday in total pips but because the last two levels went into profit with the 1.5 multiplication factor I made a profit. In other words, what would have been a very bad trade for most traders was a profit for me. Isnt that cool . I am also in position to make profit on it again today.

I have sells on the 4 currencies: eur/aud, eur/cad, eur/chf, usd/cad

Dang I cant slip anything past you guys. Yup I am testing it on everything but the gbp/chf and gbp/jpy. I use it on days I consider slow days, like Monday or little news days. I go 10 levels deep with it instead of 8 like the 100/40. So the EA range is the same but the risk/reward ratio is higher also. I also take other kinds of trades I dont mention here because I have used this red,white, MACD LINE for trading for over a year and I see other kinds of trades in it. For instance the USD/JPY if the red line turns up, it means the uptrend is going to continue and you could put a buy on it. The bounce off the 75 line and red going up, that is a trade signal too. However, I confirm that with the 1 hour chart. But I dont recommend doing that until you got the +85 -15 down real well.

On another demo I am practicing manual trading using this system. I enter 1 lot sell at the +75 with confirmation from the red, white, blue lines. 3 lots at the 150 line and 5 lots at the 300 line. If it goes to 400 I will enter 7 lots. If I start my first trade at the 150 line then +3 at the 300 and so on.

So far it has been very profitable on my demo after 6 days but that is not long enough of a test period to use it live. So you wonder where I got the line numbers and the 89 MA that is where?? It came from another test I was doing.

Took profit:
eur/aud 62 pips
eur/cad 100 pips at +32 now, if it breaks the 89 MA will stay in other wise will close
eur/chf at level 2 am staying in
usd/cad at level 3 am staying in

new calls for today
eur/aud sell if it breaks 89 MA
eur/cad sell if it breaks 89 MA
usd/jpy sell
usd/chf sell but will wait for eur open. This is a weak call ????
GBP/USD check at euro open as a buy.
EUR/USD check at euro open as a buy.
The last 4 if they line up tend to move together. I took the USD/JPY now because it is almost time for the jpy session. The other 3 can wait until the EURO or USA open.

Not much happening this week.
yesterday 194 pips almost all from the eur/cad
Eur/cad has gotten me 204 pips so far this week and I am at +32 now. If it breaks the 89 MA there will be a lot more there. This is on a nice run. Now if only the USD/CAD will take off for a while.

This brings to the end my live .01 trades. I have increased my account and will go to .02 trades. starting today. I also will enter the IBFX contest starting Friday. Will see how this does. Some of you know in the past 250 dollars was not enough with the 100/40 buy sell EA. Now that I have separated them into two EAs I think it will work on just 250 dollars. Here we go.

took profit:

Eur/Cad nice run over 200 pips over 3 days
Eur/AUD did not break 89 so did not reenter
USD/CAD still has not made its break and the red line is almost to 15. Go to 1H chart and it is on the 89 line. If it breaks the 89 line stay if it doesn't take a small loss and get out. It isn't worth it.

Looks like a big day again. The currencies have all lined up like last week.

BUYS: AUD/CAD, AUD/JPY, AUD/USD, CHF/JPY EUR/USD,GBP/USD, NZD/USD,


SELLS: USD/JPY, USD/CHF, EUR/AUD,

REMEMBER: When I say buy or sell you turn the EA on it doesnt mean you enter the trade. The EA will enter when the MAs cross.

IBFX CONTEST STARTS TOMORROW

AWW heck with it, I closed the usd/cad. Took a 1.00 loss. I dont even know why I have that currency on my screen. Watch it drop 100 pips now. Oh well, thats trading.

REASONING: Level 3 had enough profit to almost wipe out the level 1 and level 2 losses, with red at 15 and all the lines below 20 on the 1H chart was not going to play with it. This is one way of exiting a bad trade without losing much money. When a retrace from a higher level makes enough profit to minimize your loss, it is a good time to get out.

Looks like the USD and AUD are going to take a strong move. When you trade multiple currencies like I do you get to see things others who concentrate on only one currency do not. It is common for currencies to do that. Buy the rumor, sell the news. If they all move before a big news story take profit and get out, if they stay in this position before a news story, guess where they are headed?? The big boys have their trades in place.

You will notice there are a lot of news stories tonight for the USD. If USD stagnates all day and they stay in their overbought/oversold condition, prices will move at news story time. If prices move slowly all day long and make a profit but are near a neutral position at story time, then you can take your profit and get out because they dont know which way the story will go or its a nonevent. If prices move a great deal to the other side, its a sucker setup. Get the inexperienced traders chasing price and then Wham reversal at news story time. Just some observations.

I think we need some news from the AUD, CHF, GBP and other currencies otherwise the USD may wait for NFP on Friday for a bigger move.

This week so far I am up about 1% with your EAs. I did not enter all the trades you did. I now have the EAs running on too many AUD pairs. So I am watching closely with AUD news in one hour.

NNBob,
I caught the 100 pip TP for four trades on the EURCAD but now flat. Have Buys for; four levels-AUDUSD, six levels-EURUSD, four-AUDJPY, five-GBPUSD,

Sells for; two levels- EURAUD, one level- USDCHF, 2 levels -JPYUSD. Let's hope they go the right way!

Your comments about the activity of the markets before news make good sense--have seen these fake-outs happen.

On the AUDUSD, you mentioned that you exited a day ago in order to re-enter later (now likely). What was the indicator move that suggested you exit early? Was it that the red stoch went above the 80 level with only a slight price increase? You saw this as a stall in price movement?

About the IBFX competition; are you entering a version of the 10p3 expert with your addition of the stochastic overbot/oversold condition?

Part of trading is knowing when certain currencies will move. The aud/usd will move during the Aud session and early JPY session and the US open session. After the Aud session it was sitting on +31 pip profit so I took it rather than sitting on it all day (night) long. I knew the same trade would be there later at the USA session but if there are better trades I would rather not tie up my margin. The slower moving currencies dont always go 100 pips so I take what I can at times and go on. Also, if the red line moves but the others dont that usually means price is not changing direction but is only retracing and will continue its trend. Also the farther apart the red and white are the weaker the move. If they are tight together stay in because this baby is moving. If red goes to the plus 80 line but price has not moved much this also shows a weak move. Take whatever profit it has and go find another currency. There is no shame in taking a 30 pip profit and then to have it go 100 points against you. Also there is no shame in taking a 30 pip profit and then it goes another 200. You still make a profit. You will have days like that.

I really dont count this as the 10.3. It was based on the MACD that is why it had so many problems. MACD is too slow of an indicator and you got into too many trades on the wrong side. It had too many problems entering in the wrong direction after price had changed directions. This program has many more bells and whistles that the 10.3 never had and you are able to try many more things with it. I have made so many changes to this program it no longer resembles any of the other Martingale systems. I know when you bring up the chart it gives you sto options but those are all disconnected and were changed to MA. I have not had the time to take those out yet. I still consider this in the final testing stage.

This really is not a true martingale system. It resembles a trading strategy called Phasing. You believe the direction of your trade but you cannot guarantee the perfect entrance so you phase into the trade with larger lots each time until you get the direction you want. You rarely see it here at any posts because forex factory is more for indicator people and Phasing is a strategy of fundamental traders. The real big boys who trade millions of lots arent bothered by multiple 100 pip moves. They think long run like 3, 6 months or more. They know if a currency raises interest rates that it will eventually go up so they go 100 or (1000) lot buy. If price goes against them 500 pips they do a 200 lot buy and so on until they get price in their direction. They will then stay in until another big fundamental changes the fundamental direction of the currency.

I call this a modified martingale because it really is a similiar philosophy. I use 1.5 instead of 2.0 multiplication. I phase in around the point where price probably will change direction for the week. Every week has a high and a low. I cant predict the exact point but with my indicators I think I can get within 300 pips. That is the fundamental philosophy of my system. I hope you understand all my ramblings.

Bob,
When you refer to the 'program' do you mean this trading strategy that's semi-automatic; using the stochastic and macd for deciding when to manually attach the Buy or Sell experts?

I mentioned the 10p3 expert because you mentioned an IBFX contest beginniing. Will you run an expert in the contest that is based on this phased trading strategy, or is the contest for manually trading the market?

After what you were saying earlier I'm wondering what your read of today's market movement has been. Have some of the currencies given a head fake or cue to a direction of movement tomorrow?

The first Friday of every month is like waiting for a dead cat to come alive. If you see everything kind of go to the center, like the main pivot point I wouldn't touch tonight's news with a 10 foot pole. I will give my positions time to move today but I will probably close out the winners as the become profitable. The losing positions I will look for my best exit.

If the positions go to extreme overbought/oversold then you have a real good chance of knowing which direction price will go tonight. My position will be to get myself ready for the contest which starts at midnight tonight. So I will make decisions based on that. I dont want to risk my account going under the 250 requirement to enter the contest. IBFX contest is open to all trading styles. EAs, manual, semi manual. My best I have done was 7th place. I am going to test this system this month and see what happens. I tried the full EA before in April and May but there was not enough funds to handle the margin. So I divided the EA into a buy and a sell EA and will turn it on and off manually. I hope that will solve my margin problems on so little cash.

Yesterday, nice day. Eur/usd took profit and stayed out. GBP/USD took profit and stayed in now at level 5 waiting for it to go up again. Both hit the 100 take profit.

Glad I got out of the USD/CAD and hoping the NZD/USD does something. The others look good especially the USD/JPY and USD/CHF. The NZD ones look iffy but the AUD trades still look good. Will take any and all profits before the EUR session and my best exit from the losing positions. I probably wont trade tonight unless currencies all line up.

I hate trading the news, fastest way to lose money I have seen on planet earth. Just my personal experience.

I had to close all my positions during the JPY session to keep my account margin from going under 250 dollars for the IBFX contest. I will reenter positions starting at the EURO session AUG 1.

Some of the CHF NZD and AUD are way overbought or oversold, so unless they do a sudden run that is where I will be tonight. All of them have my EA on, If they reverse they will enter, if they dont reverse I will be out. HMMMMMMMMMM, wont touch anything else. Imagine someone getting online and making predictions on currencies an hour before NFP report. I must be stupid, dumb or brave. Will find out later.

Buys: AUD/CAD AUD/JPY AUD/USD CHF/JPY, NZD/JPY, NZD/USD


Sells: EUR/AUD

Well that was a dud evening and mostly a dud week.

how did everyone do this week?

I'm up $333 for the week but currently in 7 currencies with a DD of -$1851 after Fridays slide. All are veryyyy oversold except EURAUD and EURCHF which are very overbot. Hoping next week brings a nice pop back to bring these into profit. Otherwise with margin at 286% I could get closed out of positions. Is this the 'black swan' death trade in progress? I guess they bounce back.

I waited too long to close all my trades. I ended the week with no open trades and a loss of about 9% including the earlier wins. I should have taken my profits on the AUDUSD and closed some AUD trades when Bob did as he noted in post# 510.

I define the death trade as when the last profit line is placed and price goes so far beyond that last profit line you have no chance of coming back to it. Find the first good retracement and take the loss. Things are really overbought or oversold. Monday and Tuesday have news stories for those currencies so we will see. The AUD, CAD, and NZD have a tendency to run sometimes and not give a good retracement. Sometimes I wonder why I trade them. If you get any good 40-60 point retracement you can get out with just a little damage.

Attached is the updated version of my currency facts. The one major improvement is I have how many days each currency information is based on which I did not have before. After prices stagnated all week because of the NFP then the NFP bombed I will be looking forward to getting back to normal trades.

I deleted the 7 year currency facts and added them to the next post. I added another column of information.

Using the currency fact chart.

What are my chances of a currency going 100 pips with this EA in one day. If you check the chart you can figure the odds, for instance:

Eur/Gbp 49 times in 1758 days or 2.78%. So I always take profit whenever it shows something decent.
Aud/Cad 258 out of 963 days or 27%
chf/jpy = 25.6%
aud/usd= 22.8% Another reason not to wait.
gbp/chf= 97%
gbp/jpy = 100% Actually it is over 100% but I subtracted the sunday days. So there are days even on Sunday GBP/JPY will go over 100 points.

So when you figure whether you should take profit, figure the odds. What are my chances for a retrace to get out. Do I do it today or do I let it ride a second day. To figure % take the total days over 100 and divide by the total days. The total days are for 5 days a week, mon-friday.

I added another column for % chance of going over 100 pips in one day during a years time.