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  • #661
  • Aug 20, 2008 7:54pm Aug 20, 2008 7:54pm
Hi Bob,

I am going to re-read the thread again and make some more notes. I do remember you listing some things regarding the stochs that you looked for when deciding whether to take profit or not. Does this apply when using the daily EA with 100-40? If so, what timeframe will you use when deciding whether or not to close a trade?
Will you close only some of the trades and let the others run longer if it is not the end of the NY Session? Just fishing for things that may help me with my decision.

Cheers,
Steve
  • #662
  • Aug 20, 2008 8:34pm Aug 20, 2008 8:34pm
Hi NanningBob,

I've read your thread and greatly appreciate all your hard work. Although not a total newbie (I've been on demo for months) I've never used an EA. I don't want to clutter up your excellent thread by asking questions about how to get the EA started. Could someone direct me to where to find info on "EA 101" or PM me some instructions?

Also, my circumstances would only allow me to run the EA sporadically, say 2-3 hours at a time. I hope to give some feedback on that to others in similar situations.

Thanks in advance,
Marcy
  • #663
  • Aug 21, 2008 3:18am Aug 21, 2008 3:18am
Quoting steveshutts
Hi Bob,

I am going to re-read the thread again and make some more notes. I do remember you listing some things regarding the stochs that you looked for when deciding whether to take profit or not. Does this apply when using the daily EA with 100-40? If so, what timeframe will you use when deciding whether or not to close a trade?
Will you close only some of the trades and let the others run longer if it is not the end of the NY Session? Just fishing for things that may help me with my decision.

Cheers,
Steve
I have kind of thrown sto out the window. I thought I had something using a sto MACD cross but it is only effective during ranging markets. If there is a major breakout. You get killed. I suppose you could watch the lower resistance and higher support lines and if they are broken you get out like I do with my 3-400 pip range. Something like that might work but I dont have time to play with that idea.

Again my trading is based on my life style here in China. I turn on the EA before I go to work (JPY session) and when I get home its usually in the middle or towards the end of the EURO session. Most days there is a profit so I close and am happy. That does not mean you could find session times or other times you might find that will work good for you. It is what I have tested for the last 9 months and it works for me. The only criteria for me is total profit from all the trades. Like today I came home at 400 (am your time) There was a 69 dollar profit on one of my accounts from all the trades. So I closed it and I am done. WHY? I have parent orientation time tonight to get ready for and I dont have time to check each currency or trade. That was a 2.3% increase in my account. I know people who keep their money in a bank or insurance company and get that in a year. $69 x 250 trading days = 17,250 a year. Not bad for 5-10 minutes a day. As long as your trades are following the daily trend, you are not in any danger, so you can just let them ride. You could watch the pivot, support and resistance lines to help you with your trade.

As long as price stays within 3-400 pips of your first entrance this EA will just keep making profit. That is its simplicity. I have let it run all week and never touch it and had it work. Need to keep a close eye on the GBP/jpy and gbp/chf though if you do that.
  • #664
  • Aug 21, 2008 3:22am Aug 21, 2008 3:22am
Quoting Marcy
Hi NanningBob,

I've read your thread and greatly appreciate all your hard work. Although not a total newbie (I've been on demo for months) I've never used an EA. I don't want to clutter up your excellent thread by asking questions about how to get the EA started. Could someone direct me to where to find info on "EA 101" or PM me some instructions?

Also, my circumstances would only allow me to run the EA sporadically, say 2-3 hours at a time. I hope to give some feedback on that to others in similar situations.

Thanks in advance,
Marcy
I will let someone else explain how to load an EA. This EA does not trade for only 2-3 hours. It covers a range of 3-400 pips safely and was designed to run all day and night. You only need to learn to watch out for the death trade. Just turn it on, on a demo and let it run all week and watch how it works. That is the best way to understand it.
  • #665
  • Aug 21, 2008 6:46am Aug 21, 2008 6:46am
"There was a 69 dollar profit on one of my accounts from all the trades. So I closed it and I am done. WHY? I have parent orientation time tonight to get ready for and I dont have time to check each currency or trade. That was a 2.3% increase in my account. I know people who keep their money in a bank or insurance company and get that in a year. $69 x 250 trading days = 17,250 a year. Not bad for 5-10 minutes a day. As long as your trades are following the daily trend, you are not in any danger, so you can just let them ride. You could watch the pivot, support and resistance lines to help you with your trade."


Nice profit per day Bob,

What is your allowable risk/loss per day?

I just thinking that if you manage to get 69 dollar a day.
69x5=345 dollar per week.

if each week you open another account, imagine the math exponential.

week 1: 1 account, 69x5=345
week 2: 2 account, 69x5x2=690
week 3: 4 account, 69x5x4=1380
week 4: 8 account, 69x5x8=2760
week 5: 16 account, 69x5x16=5520
week 6: 32 account, 69x5x32=11040
week 7: 64 account, 69x5x64=22080...in week 7, you will achieve more than your earlier calculation..17,250 a year...

Nice yea, of course this is considering no death trade occurance...
  • #666
  • Aug 21, 2008 8:31am Aug 21, 2008 8:31am
Thanks for the reply Bob.
I am running the EA to start trading from the start of the JPY session too, which is 00:00 GMT.

These are the currencies i am trading:
Gbp/Chf
Eur/Usd
Usd/Chf
Gbp/Usd
Usd/Jpy
Nzd/Usd
Aud/Usd
Aud/Jpy
Chf/Jpy
Eur/Chf
Eur/Jpy
Eur/Cad
Gbp/Jpy
Nzd/Jpy
Eur/Gbp
Aud/Cad
Aud/Nzd
Eur/Aud

As i mentioned before, i usually go to work about 15:30 GMT so can keep an eye on the P+L up to then. Yesterday i shut everything down before work for a $30 profit. When i came to my desk this morning, the EA had opened up a load more trades and at this moment, i am currently $-81 on the open trades and i have booked $40 profit, so net $-41.
I have turned your close all script into an EA and you can specify the time at which you want it to run. If i have not closed all my trades at a profit before i go to work then this EA enables me to close all the trades at the end of the NY session 21:00 GMT, whether in profit or not, which will be the case today.

Bob, are these similar currencies to what you are trading? Just wondered whether i should drop any as you have the experience with this. I am using the 40-100 EA by the way.
I must admit, i am quite excited about running this, its a great way to trade, very easy, and if can get it to work to, which there is no reason why not, then great. Will keep it running and see what happens.
Is this the same time you run your EA from, 00:00 GMT on IBFX?

Cheers for everything,
Steve
  • #667
  • Aug 21, 2008 9:21am Aug 21, 2008 9:21am
Quoting akukaya
"There was a 69 dollar profit on one of my accounts from all the trades. So I closed it and I am done. WHY? I have parent orientation time tonight to get ready for and I dont have time to check each currency or trade. That was a 2.3% increase in my account. I know people who keep their money in a bank or insurance company and get that in a year. $69 x 250 trading days = 17,250 a year. Not bad for 5-10 minutes a day. As long as your trades are following the daily trend, you are not in any danger, so you can just let them ride. You could watch the pivot, support and resistance lines to help you with your trade."


Nice profit per day Bob,

What is your allowable risk/loss per day?

I just thinking that if you manage to get 69 dollar a day.
69x5=345 dollar per week.

if each week you open another account, imagine the math exponential.

week 1: 1 account, 69x5=345
week 2: 2 account, 69x5x2=690
week 3: 4 account, 69x5x4=1380
week 4: 8 account, 69x5x8=2760
week 5: 16 account, 69x5x16=5520
week 6: 32 account, 69x5x32=11040
week 7: 64 account, 69x5x64=22080...in week 7, you will achieve more than your earlier calculation..17,250 a year...

Nice yea, of course this is considering no death trade occurance...
Looks like an Amway presentation
  • #668
  • Aug 21, 2008 9:31am Aug 21, 2008 9:31am
Quoting steveshutts
Thanks for the reply Bob.
I am running the EA to start trading from the start of the JPY session too, which is 00:00 GMT.

These are the currencies i am trading:
Gbp/Chf
Eur/Usd
Usd/Chf
Gbp/Usd
Usd/Jpy
Nzd/Usd
Aud/Usd
Aud/Jpy
Chf/Jpy
Eur/Chf
Eur/Jpy
Eur/Cad
Gbp/Jpy
Nzd/Jpy
Eur/Gbp
Aud/Cad
Aud/Nzd
Eur/Aud

As i mentioned before, i usually go to work about 15:30 GMT so can keep an eye on the P+L up to then. Yesterday i shut everything down before work for a $30 profit. When i came to my desk this morning, the EA had opened up a load more trades and at this moment, i am currently $-81 on the open trades and i have booked $40 profit, so net $-41.
I have turned your close all script into an EA and you can specify the time at which you want it to run. If i have not closed all my trades at a profit before i go to work then this EA enables me to close all the trades at the end of the NY session 21:00 GMT, whether in profit or not, which will be the case today.

Bob, are these similar currencies to what you are trading? Just wondered whether i should drop any as you have the experience with this. I am using the 40-100 EA by the way.
I must admit, i am quite excited about running this, its a great way to trade, very easy, and if can get it to work to, which there is no reason why not, then great. Will keep it running and see what happens.
Is this the same time you run your EA from, 00:00 GMT on IBFX?

Cheers for everything,
Steve
Yeah those are it. I think your missing one, IBFX has 19 But you have all the major ones. Also I turn the EA off when I close all trades otherwise it will just reenter again. If none of the currencies are in any danger you dont have to close all the trades. The average day has a currency going to high/low, then a low/high and then retracing to some point and floating until the next day. Then it does the whole process all over again. This constant fluctuation in any given day is what we live for with this EA. I really recommend that you just let one demo run 24/7 so you can see how it works. It will give you a feel for it.
  • #669
  • Aug 21, 2008 8:01pm Aug 21, 2008 8:01pm
Quoting nanningbob
Yeah those are it. I think your missing one, IBFX has 19 But you have all the major ones. Also I turn the EA off when I close all trades otherwise it will just reenter again. If none of the currencies are in any danger you dont have to close all the trades. The average day has a currency going to high/low, then a low/high and then retracing to some point and floating until the next day. Then it does the whole process all over again. This constant fluctuation in any given day is what we live for with this EA. I really recommend that you just let one demo run 24/7 so you can see how it works. It will give you a feel for it.
Yes, thats a good idea, i will do that tomorrow. It really does fluctuate, just before i went to work i had $70 banked profit and my open trades had gone down to just $-20 so i closed them all and took the net profit of $50. I now have $90 profit in 2 days, which as you say, is not bad for hardly doing a thing, and this is only running at 0.01 on a pretend $3000 account.

How did you come to the conclusion that 0.01 was a safe amount to trade for a $3000 account? I am assuming that you could trade around 0.06 if you had a $20000 account.
I know you mentioned that it is better to keep taking profits out of the account but do you think it is possible to build the account so that more lots can be traded as profits were compounded?
I am interested in how you came to these figures and what the worse case scenario you have seen so far when trading this EA and using 0.01?

Cheers,
Steve
  • #670
  • Aug 21, 2008 10:33pm Aug 21, 2008 10:33pm
I began testing on Aug 20 as described on page 44, post #652.

After two days following the rules exactly as I described on the demo accounts I have been down $ on every account each day. Except for one day, it has been very reasonable though.

I am not going to post the exact numbers until the end of the trading day on Friday. That will be three full days testing.

It is too early to make any changes in anything yet. The markets have been very choppy in the last few days so anything is possible.

It's way to early to jump to any conclusions yet, but I am getting the sense that simply "clearing the slate" of all the positions at a certain time every day and re-starting the EA is not going to be productive. The reason being that you could easily be down several hundred pips on a pair and close it right before the retracement that you need that would make up all that loss and put you into profit. So the difference between a profitable day and an equally large loss could easily be a matter of a few hours difference in when you open/close your positions.

I would still like to find a way to get in more in line with the trend instead of just using a random entry.

Anyway, this is a good test so we can all learn from what it shows.
  • #671
  • Edited 3:51am Aug 22, 2008 3:24am | Edited 3:51am
Quoting steveshutts
Yes, thats a good idea, i will do that tomorrow. It really does fluctuate, just before i went to work i had $70 banked profit and my open trades had gone down to just $-20 so i closed them all and took the net profit of $50. I now have $90 profit in 2 days, which as you say, is not bad for hardly doing a thing, and this is only running at 0.01 on a pretend $3000 account.

How did you come to the conclusion that 0.01 was a safe amount to trade for a $3000 account? I am assuming that you could trade around 0.06 if you had a $20000 account.
I know you mentioned that it is better to keep taking profits out of the account but do you think it is possible to build the account so that more lots can be traded as profits were compounded?
I am interested in how you came to these figures and what the worse case scenario you have seen so far when trading this EA and using 0.01?

Cheers,
Steve
I just set the EA at .01 you can trade higher. My first 100/40 test I eventually used dimes over a 2 month period successfully. I believe in a previous post I stated you are pretty safe until it hits a total of 5.00 a pip and then you can run into deep trouble with 3000. My two EAs I posted that traded dimes are my experiment to trade .10 with 3000 dollars. I want to know if others also think that works. .10 could make you a decent income. I think 10,000 would trade .10 easily. After that I dont know because I havent looked at the figures. IBFX lets you trade 400:1 up to 5000 dollars, then your ratio changes. How does that effect your trading with this EA? I dont know. Sometimes it is not just a matter of more money. I think you would be better trading more accounts than one large account. That was going to be my plan but I couldnt get these EAs to work on 250 dollars. I also was trading at 200:1 Maybe these EAs will trade 300 dollars at 400:1. I am thinking of trying that. It may give me the margin room I am looking for. To be honest I would rather risk 300 and it prove successful than 3000 and it prove to be unsuccessful. I like what the 1H 1D EA is doing right now. Its margin usage is a lot less than the other ones I am testing. I am thinking of also testing a 30M 1D. If it continues to use a lot less margin than the other EAs being tested I will try the IBFX contest again next month at 400:1 and see what happens. That combo looks promising right now. I also want to test a live 3000 account but I will start a .02 and then after a while move that up to .05. I will post results. I tired of demoing I want to do the real thing now.
  • #672
  • Aug 22, 2008 3:58am Aug 22, 2008 3:58am
Quoting PistolDave
I began testing on Aug 20 as described on page 44, post #652.

After two days following the rules exactly as I described on the demo accounts I have been down $ on every account each day. Except for one day, it has been very reasonable though.

I am not going to post the exact numbers until the end of the trading day on Friday. That will be three full days testing.

It is too early to make any changes in anything yet. The markets have been very choppy in the last few days so anything is possible.

It's way to early to jump to any conclusions yet, but I am getting the sense that simply "clearing the slate" of all the positions at a certain time every day and re-starting the EA is not going to be productive. The reason being that you could easily be down several hundred pips on a pair and close it right before the retracement that you need that would make up all that loss and put you into profit. So the difference between a profitable day and an equally large loss could easily be a matter of a few hours difference in when you open/close your positions.

I would still like to find a way to get in more in line with the trend instead of just using a random entry.

Anyway, this is a good test so we can all learn from what it shows.
Thanks for trying these parameters. There is one basic problem with all rules based trading systems, the market has no rules. There is nothing that stops GM from selling 5 billion dollars worth of trucks and autos to France. They do not have to announce, Hey traders we are cashing our 5 billion dollar euro check today, WATCH OUT. Ever wonder why the market mysteriously moves 100 pips for no apparent reason, you can read dozens of threads blaming broker A or broker B. Probably the defense dept. deposited a secret arms sale to country D. Once you truly understand the market and how it operates, I think you will find trading in a range to be the best way to trade. To me that is the best shot I have after almost 3 years studying this thing. Just my opinion.
  • #673
  • Aug 22, 2008 7:53am Aug 22, 2008 7:53am
Quoting PistolDave
I began testing on Aug 20 as described on page 44, post #652.

After two days following the rules exactly as I described on the demo accounts I have been down $ on every account each day. Except for one day, it has been very reasonable though.

I am not going to post the exact numbers until the end of the trading day on Friday. That will be three full days testing.

It is too early to make any changes in anything yet. The markets have been very choppy in the last few days so anything is possible.

It's way to early to jump to any conclusions yet, but I am getting the sense that simply "clearing the slate" of all the positions at a certain time every day and re-starting the EA is not going to be productive. The reason being that you could easily be down several hundred pips on a pair and close it right before the retracement that you need that would make up all that loss and put you into profit. So the difference between a profitable day and an equally large loss could easily be a matter of a few hours difference in when you open/close your positions.

I would still like to find a way to get in more in line with the trend instead of just using a random entry.

Anyway, this is a good test so we can all learn from what it shows.
Hi Dave,

Its great that you are testing different scenarios though. I am new to this as well, but it seems logical to me to start the EA at the start of a new daily candle. Now i know this varies from platform to platform but i think the most common seems to be at 00:00GMT.
I wonder how many times your platform goes into profit during the day when you are not around? I can monitor my open positions during the London, and some of the NY session so when i see a reasonable profit, if i get one, then i take it. Maybe you could try another demo using the parameters in the EA that closes the trades once you have reached a certain profit target. This may solve that problem but i am have not taken a look at that area to see how it works.

Not doing great today, i have booked $110 profit but my open trades are currently $-330, with Gbp/Usd being the worst hit with 6 levels open. All trades will be closed at 21:00GMT and will see what i get.

Steve
  • #674
  • Aug 22, 2008 9:37am Aug 22, 2008 9:37am
you attached a file with all coins on which you can work with ActiveTrades.
The couples are 46 and I would try to work with the greatest possible number of them, using two EA I have posted for me.
You can indicate on which and how many of these have to activate the two demo that will begin Sunday evening?
Thank you
Romano
Attached File(s)
File Type: xls SPREAD ACTIVETRADES .xls   25 KB | 491 downloads
  • #675
  • Aug 22, 2008 11:21am Aug 22, 2008 11:21am
Quoting Romano
you attached a file with all coins on which you can work with ActiveTrades.
The couples are 46 and I would try to work with the greatest possible number of them, using two EA I have posted for me.
You can indicate on which and how many of these have to activate the two demo that will begin Sunday evening?
Thank you
Romano
If you have MT4, go to the daily chart and save the currency to your desktop. You need to check the biggest moves in one day and see which ones stay withing the 3-400 pip range in one day. Some of these odd currencies move in the thousands a day and would kill the EA. The PESO, Norwegian, Danish etc. would not work with this EA.
  • #676
  • Aug 22, 2008 11:38am Aug 22, 2008 11:38am
After 3 weeks the 50/40 trading .02 is cruising along. It has now increased 17.5% (524.23 profit) or averaging almost 6% a week. I am going to increase the lot to .05 and see how it does. So far I am pleased with it.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 5 KB
  • #677
  • Edited 11:59am Aug 22, 2008 11:47am | Edited 11:59am
Hi ya

I am trying to calculate the enough account balance to use 100 tp 40 system in micro account with starting lot of 0.01.

I have done some calc below.


Sample calculation 1
Currency =GBPUSD
Assume 1st buy price =1.9876
Start lot size =0.01
Multiple factor = 1.5
worst case price( Level 7 -150 point) =1.9486


Total Loss =684

Level-------Price---- Lot size---- Loss in dollar
Level 1---------1.98760 --------0.01-------------------- 39
Level 2---------1.98360 --------0.015 -------------------52.3
Level 3----------1.97960-------- 0.023------------------ 69.7
Level 4-----------1.97560------- 0.034------------------ 91.1
Level 5-----------1.97160-------- 0.051---------------116.4
Level 6-----------1.96760--------- 0.076--------------- 144.3
Level 7-----------1.96360 ----------0.114--------------- 170.9




In worst case scenario (try to be bit conseervative), the price further drop 150 points from level 7 and retrace back for level 7 take profit (i.e up to 1.9736)

and I tried subtract worst case price from buy price in each level!!

I have reached the conclusion to have at least 1000 US dollar for 100 tp 40 EA system to go with starting lot of 0.01 to be safe from wiping out your account .

I am Wondering if I have any mistakes in my cals.
Obviously I do not want to wipe off my account by keeping too small money on account!!


thanks guys in advance and also this will be useful fact for other newbie like me.


auto9817
  • #678
  • Aug 22, 2008 1:23pm Aug 22, 2008 1:23pm
Hi Bob:

I want ask you how you can trade many pairs every day, because not allways you have the trigguer that you mention in you system. There are days that the MACD or yellow line is in the midle of the chart not over nivel 80 o under nivel 20 and this is frecuently in most of the pairs. What do you do? wait until get the nivel 80 or 20 or enter looking the direction of the trend in 4h ?

I Enclose a chart with the sample.

If you open the chart begining the day and you find that this is the stoch and MACD what you do? Dont trade this day in this pair? and find the triguer in another pair?

Thanks

Ricardo
Attached Image (click to enlarge)
Click to Enlarge Name: EUR JYP 4 h.JPG Size: 539 KB
  • #679
  • Aug 22, 2008 1:29pm Aug 22, 2008 1:29pm
Hello Nanningbob,

Thank you for your persistence and for sharing your progress with us. Wonderful stuff!

I am doing my best reading through the thread. There is one question I am still uncertain about.

Is there a more formal way of recognizing when a death trade is building? By definition, you recognize a death trade when it has wiped out your account, but that is a little late.

Are you using more formalized criteria for early warning signs when you decide to eliminate the trade? I read a deviation of 300-400 pips within a day. Or will you automatically eliminate death trades at the end of the day, so you won't have to worry about them too much anymore during the day?

I would appreciate if you could point me to a post or explain what criteria you use. Thank you again for sharing your great ideas!
  • #680
  • Aug 22, 2008 4:41pm Aug 22, 2008 4:41pm
Hi Bob
In ActiveTrades archives are inconsistent.
They are good only those titles of "normal".
All titles of coins "strange" have been made recently and not have a long history, only a few days.
I changed the attached file leaving only the titles normal.
I do not know which titles you use with Interbank, but I think that many are the same.
Edit the list, add or take away what you want.
After I make two demo, you tell me how many USD each, and then put the same titles and we will see the differences.
Hello and thanks for everything
Romano
Attached File(s)
File Type: xls modificato SPREAD ACTIVETRADES .xls   28 KB | 340 downloads
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