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Is This My Holy Grail EA :D

  • #981
  • Sep 25, 2008 3:33am Sep 25, 2008 3:33am
Quoting nanningbob
... I have looked at other companies but the cost of depositing and recieving my money is more costly, so I have stayed with IBFX.

Agreed. I really like Alpari as well, but it's a pain to get money to them. Their historical data is priceless and I run all of my backtesting on their demo accounts.
  • #982
  • Sep 25, 2008 2:38pm Sep 25, 2008 2:38pm
Nanningbob,

You've developed what seems to be a great EA. I have only been running it one day so the verdict of course is still out! But I like the way it looks and you've done your research. I will be studying it until I understand the way it works, but I do have some questions that I don't remember seeing in the thread.
As follows:
1. What determines initially whether a pair buys or sells? In other words what is the key factor for triggering the position? And once the position is determined, I'm assuming from what I've observed, that the pair continues to add positions as necessary until all of the positions close.
2. From what I've read in your thread, you allow
a. the EA to close positions with the set TP
b. manually close out positions in a pair or multiple pairs as you assess their positions, etc.
c. Use a script ie., "Close all" or similar to close all of the positions when there is acceptable profit.

3. Under 2 b-are you concerned if when closing out the winning positions that you may tip the balance and possibly put you into a margin call?


Thanks for answering those questions. I'm also attaching a "Newsreader" I came across that I think is really cool. I think its a perfect fit for this EA, since you like to keep track of the news. Its called "IN10TION." I've also included a template. The site that this was taken from was www.forex-tsd.com/215104-post1.html, so you may read more about it or download it from that site. There is also an additional template.

Thanks again for this well thought out EA.
http://www.forexfactory.com/images/icons/icon14.gif
Trader 1 (aka 1Trader2)

Mike
Attached File(s)
File Type: ex4 ! IN10TION NewsReader v09.8 lite.ex4   108 KB | 400 downloads
File Type: tpl ! IN10TION Total.tpl   3 KB | 347 downloads
  • #983
  • Sep 25, 2008 5:31pm Sep 25, 2008 5:31pm
What the heck is this???? NZD/JPY. Also my older demo accounts wouldnt let me change the TP line but the new downloaded ones did.
Attached Image (click to enlarge)
Click to Enlarge Name: nzd jpy.gif Size: 16 KB
  • #984
  • Sep 25, 2008 5:36pm Sep 25, 2008 5:36pm
Quoting 1trader2
Nanningbob,

You've developed what seems to be a great EA. I have only been running it one day so the verdict of course is still out! But I like the way it looks and you've done your research. I will be studying it until I understand the way it works, but I do have some questions that I don't remember seeing in the thread.
As follows:
1. What determines initially whether a pair buys or sells? In other words what is the key factor for triggering the position? And once the position is determined, I'm assuming from what I've observed, that the pair continues to add positions as necessary until all of the positions close.

If price is below the 2MA or 1MA shifted 1 on a 1day chart, depending which version you have, It does a sell below and a buy above. When price retraces and takes profit at the nearest TP line all positions on that pair are closed.
2. From what I've read in your thread, you allow
a. the EA to close positions with the set TP
b. manually close out positions in a pair or multiple pairs as you assess their positions, etc.
c. Use a script ie., "Close all" or similar to close all of the positions when there is acceptable profit.

YES

3. Under 2 b-are you concerned if when closing out the winning positions that you may tip the balance and possibly put you into a margin call?

NO. Since we only go 8 levels deep there is no margin call, besides if you are closing all positions it wouldnt change anything anyway you are closing all positions.


Thanks for answering those questions. I'm also attaching a "Newsreader" I came across that I think is really cool. I think its a perfect fit for this EA, since you like to keep track of the news. Its called "IN10TION." I've also included a template. The site that this was taken from was www.forex-tsd.com/215104-post1.html, so you may read more about it or download it from that site. There is also an additional template.

Thanks again for this well thought out EA.
http://www.forexfactory.com/images/icons/icon14.gif
Trader 1 (aka 1Trader2)

Mike

answers above
  • #985
  • Sep 25, 2008 8:00pm Sep 25, 2008 8:00pm
Quoting nanningbob
What the heck is this???? NZD/JPY. Also my older demo accounts wouldnt let me change the TP line but the new downloaded ones did.
Looks like a huge data error from IBFX... if real money was on the line would they make good???? Here is a chart from ODL during the same period... NZD/JPY on a 1 hr chart...
Attached Image
  • #986
  • Sep 25, 2008 8:01pm Sep 25, 2008 8:01pm
Quoting nanningbob
What the heck is this???? NZD/JPY. Also my older demo accounts wouldnt let me change the TP line but the new downloaded ones did.
look quite funny though...
how did you get the big red bar??
  • #987
  • Sep 25, 2008 10:15pm Sep 25, 2008 10:15pm
Quoting joeTrue
look quite funny though...
how did you get the big red bar??
My demo Ea made a bunch of money off of it, dont know what a real account would do though?? the red bar is a market move in which the currency lost half of its value in a matter of seconds. I have seen these before with the NZD. I wouldnot recommend using this pair. The NZD/USD once had a 2500 pip move before Christmas Day 2006 or 2005.
  • #988
  • Sep 25, 2008 10:23pm Sep 25, 2008 10:23pm
Because of the govt. Bailout I would not be trading Fridays session. There is no predictability or chart system that is going to be able to read todays news results. I will have my EA set to the 0 point on my demos to see if the EA can handle the news stories of today.
  • #989
  • Sep 26, 2008 12:59am Sep 26, 2008 12:59am
Yes Bob, that would be interesting to see...

On another note, I just wanted to make sure: setting "ReverseCondition" to "true" will make the EA trade the opposite of what it would normally do? Like it would buy where it would normally sell?

Thank you.
  • #990
  • Sep 26, 2008 2:46am Sep 26, 2008 2:46am
Quoting dmitry_dos
Yes Bob, that would be interesting to see...

On another note, I just wanted to make sure: setting "ReverseCondition" to "true" will make the EA trade the opposite of what it would normally do? Like it would buy where it would normally sell?

Thank you.
never tried it
  • #991
  • Sep 26, 2008 3:11am Sep 26, 2008 3:11am
Quoting nanningbob
Because of the govt. Bailout I would not be trading Fridays session. There is no predictability or chart system that is going to be able to read todays news results. I will have my EA set to the 0 point on my demos to see if the EA can handle the news stories of today.
I agree. I should not have traded all week to be perfectly honest, but I was interested in the system.

RULE #1: DONT TRADE THE NEWS
RULE #2: SEE RULE #1
  • #992
  • Sep 26, 2008 3:37am Sep 26, 2008 3:37am
Hello,

I traded this week following Nanningbob's way of trading this and here are my updated results. Over $1k profit this week on trading 10 cent trades with Alpari. I agree with Nanningbob, This is the best way to trade a Martingale EA.

Regards,
Jeff

Quoting FrostCall
I agree. I should not have traded all week to be perfectly honest, but I was interested in the system.

RULE #1: DONT TRADE THE NEWS
RULE #2: SEE RULE #1
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 5 KB
  • #993
  • Sep 26, 2008 4:42am Sep 26, 2008 4:42am
Quoting azjeff
Hello,

I traded this week following Nanningbob's way of trading this and here are my updated results. Over $1k profit this week on trading 10 cent trades with Alpari. I agree with Nanningbob, This is the best way to trade a Martingale EA.

Regards,
Jeff

Hi Jeff, if you don't mind me asking, which pairs are you using...... great results?
  • #994
  • Sep 26, 2008 9:49am Sep 26, 2008 9:49am
I opened the EA on all 12 pairs for the first time yesterday evening, about 8 p.m. central U.S. time, on a new $5000 demo account.

I just "closed all" trades because I don't typically like to have trades too far into the US session on Friday and don't plan to hold positions over the weekend.

I used Bob's EA configured to start with .02 lots and ended up with $571 profit. I know at one point I had about 8% drawdown, but the retracements in the last hour+ quickly took it into the black.

I know it's way too early to draw any conclusions, but so far so good!

Thanks, Bob.
  • #995
  • Sep 26, 2008 7:03pm Sep 26, 2008 7:03pm
Hi Bob:

I have been trading 100-40, 19 pairs, .01 lots mini accounts.
I have 10 days making profits, but yesterday I had a sorprise in the NZD.
I show the first chart that is a real mini account $ 1000 dls deposit and
you can see the big move. I had a big lost with .01, but my sorprise is that
in a mini demo account (second chart) that I have with $ 10,000 balance,
the move is not there, in this demo account I didn t lost.

Both charts that I enclose (interbankfx) is the same hour but diference is the first is real and the second is demo.

Have you seen this diference other time, in you experience is frecuently this because the pairs that you use enclose NZD?

May you check with your metatrader?

Thank you

Ricardo
Attached Image(s) (click to enlarge)
Click to Enlarge Name: real mini account 1000 dls.gif Size: 15 KB
Click to Enlarge Name: demo 10,000.gif Size: 68 KB
  • #996
  • Sep 26, 2008 8:10pm Sep 26, 2008 8:10pm
Quoting fotoposter1
Hi Bob:

I have been trading 100-40, 19 pairs, .01 lots mini accounts.
I have 10 days making profits, but yesterday I had a sorprise in the NZD.
I show the first chart that is a real mini account $ 1000 dls deposit and
you can see the big move. I had a big lost with .01, but my sorprise is that
in a mini demo account (second chart) that I have with $ 10,000 balance,
the move is not there, in this demo account I didn t lost.

Both charts that I enclose (interbankfx) is the same hour but diference is the first is real and the second is demo.

Have you seen this diference other time, in you experience is frecuently this because the pairs that you use enclose NZD?

May you check with your metatrader?

Thank you

Ricardo
Yes this is the same one I posted on 983, It was on my demo account. I had three demos running and 1 had a big profit on this, Over 200, one had a big loss over 200 and the other was small loss. Neither was in danger of wiping out a 3000 account but it is a big concern. I think I will email it to IBFX and see what they say. I also want to point out that this does happen on the NZD and it is not the first time. I dont make enough money on NZD currencies to warrant this risk so I am not going to trade them in the future unless IBFX has a clear policy concerning this.

The EUR/GBP does this also but seldom goes over 100 pips
  • #997
  • Sep 26, 2008 8:39pm Sep 26, 2008 8:39pm
Quoting fotoposter1
Hi Bob:

I have been trading 100-40, 19 pairs, .01 lots mini accounts.
I have 10 days making profits, but yesterday I had a sorprise in the NZD.
I show the first chart that is a real mini account $ 1000 dls deposit and
you can see the big move. I had a big lost with .01, but my sorprise is that
in a mini demo account (second chart) that I have with $ 10,000 balance,
the move is not there, in this demo account I didn t lost.

Both charts that I enclose (interbankfx) is the same hour but diference is the first is real and the second is demo.

Have you seen this diference other time, in you experience is frecuently this because the pairs that you use enclose NZD?

May you check with your metatrader?

Thank you

Ricardo
I received an eamil from IBFX yesterday. (detail's below)

They should delete not only win trades but also lose trades.

---------------------------------------------------------------
Dear XXXXXXX 12345

On September 25, 2008, there were some price spikes on all NZD currency pairs that originated from one of the institutions that we contract with for pricing and trade off-set.
The prices provided flowed correctly through our system. As indicated in our risk disclosure and customer agreements, one of the risks associated with trading Forex is that there is no central exchange. As in this case, this can result in prices that are not in line with prices being presented from other sources.
We have reviewed these price spikes and we are either re-opening or deleting trades which were affected due to this spike.

IBFX has deleted the following trades on account 12345
Please see notes at end of the Ticket Information:


29660502 25692 2008.09.25 21:40 sell audnzdm 0.12 1.2475 1.3474 0 2008.09.25 22:44 1.2233 0 0 0 0 $19.83 Delete


Please feel free to contact us at any time at:
Toll Free U.S.: 1-866-468-3739
International: 1-801-930-6800
Email: [email protected]

We look forward to continuing our relationship with you in the future.

Sincerely,
IBFX / Interbank FX, LLC
---------------------------------------------------------------
  • #998
  • Sep 27, 2008 2:02am Sep 27, 2008 2:02am
Quoting savasava
I received an eamil from IBFX yesterday. (detail's below)

They should delete not only win trades but also lose trades.

---------------------------------------------------------------
Dear XXXXXXX 12345

On September 25, 2008, there were some price spikes on all NZD currency pairs that originated from one of the institutions that we contract with for pricing and trade off-set.
The prices provided flowed correctly through our system. As indicated in our risk disclosure and customer agreements, one of the risks associated with trading Forex is that there is no central exchange. As in this case, this can result in prices that are not in line with prices being presented from other sources.
We have reviewed these price spikes and we are either re-opening or deleting trades which were affected due to this spike.

IBFX has deleted the following trades on account 12345
Please see notes at end of the Ticket Information:


29660502 25692 2008.09.25 21:40 sell audnzdm 0.12 1.2475 1.3474 0 2008.09.25 22:44 1.2233 0 0 0 0 $19.83 Delete


Please feel free to contact us at any time at:
Toll Free U.S.: 1-866-468-3739
International: 1-801-930-6800
Email: [email protected]

We look forward to continuing our relationship with you in the future.

Sincerely,
IBFX / Interbank FX, LLC
---------------------------------------------------------------
Ok even though they deleted a profit they did do the right thing. That was not a normal price move or better yet that was not a price move but an artificial one. I am glad they did this because this protects our account and trading system. I wonder if they will undo the demos too??
  • #999
  • Sep 27, 2008 8:10am Sep 27, 2008 8:10am
Well, my day has finally come. I will have 3 -- 2000 dollar accounts with IBFX. My friend will trade one live and the other two will have my two EAs that I like. The 100/40 and a 60/45. I will start them at .03. As soon as my account shows my deposits I will start the EAs. We started this adventure last December and I am now confident I have seen just about every type of market move possible. I want to thank Azaam for posting his EA and letting me play with it. To all you traders who asked questions, tested the EAs and gave me suggestions and results, I want to thank you for your time and effort. Now it is time for the fat lady to sing. Sometime on Sept. 29 my readventure with he Forex begins. This time we hope to be on the winning side.
  • #1,000
  • Sep 27, 2008 8:22am Sep 27, 2008 8:22am
Good luck on the live accounts. I'm anxious to watch your progress. Please keep us posted.
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