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Is This My Holy Grail EA :D

  • #1,381
  • Oct 17, 2008 3:12am Oct 17, 2008 3:12am
Hi Bob and all.

Ive been looking at the EURGBP. It doesn't move much and its one of the pairs that could slowly drag you in to a death trade, because it doesn't retrace much either (see average daily range below, even with global turmoil it's only moved 10 to 20 pips more than normal ) so on my demo (100X125) I have changed the settings to TP 50 Pips 65 SL 500. I'll let you know how I get on.

I also appreciate anyones thoughts on this, have any of you made changes in a similar way?

The Friday trade closing is a tricky beast as well, how do you go about this process

Cheers

James
Attached Image (click to enlarge)
Click to Enlarge Name: trade exit.gif Size: 19 KB
  • #1,382
  • Oct 17, 2008 3:18am Oct 17, 2008 3:18am
I also did a test between a 100/40 and a 100/45. This gave the EA a little more range but in my opinion it did not change anything. If a currency was giving the 100/40 trouble it also would trouble the 100/45. The 100/45 also made less money so I will drop the test on it.


I also finished my testing on the 60/45. Even though it made more money than the 100/40, when it got into trouble the losses could be devastating. I tried some adjustments and if you dont use it on any of the big movers it can work. NO Eur/jpy, gbp/jpy, gbp/chf or any of the big 5 with a minor currency. It does do very well with the AUD/NZD dollar however and set at .05-.10 makes good money every day. Seems to be made for that pair. So as a system for all currencies it gets into trouble too often but with the Aud/Nzd, it works great.
  • #1,383
  • Oct 17, 2008 3:21am Oct 17, 2008 3:21am
Quoting El Salon
Hi Bob and all.

Ive been looking at the EURGBP. It doesn't move much and its one of the pairs that could slowly drag you in to a death trade, because it doesn't retrace much either (see average daily range below, even with global turmoil it's only moved 10 to 20 pips more than normal ) so on my demo (100X125) I have changed the settings to TP 50 Pips 65 SL 500. I'll let you know how I get on.

I also appreciate anyones thoughts on this, have any of you made changes in a similar way?

The Friday trade closing is a tricky beast as well, how do you go about this process

Cheers

James
Hey love that little chart on your screen, where did you get it??

Also there is a thread where a guy is trading the E/G using sto successfully. Probably Azaams original EA would work with it. In my 100/40 you dont wait for the E/G to hit 100 profit. Anytime you see a winning trade you take it. That is how I trade it with my system.
  • #1,384
  • Oct 17, 2008 3:45am Oct 17, 2008 3:45am
Quoting El Salon
Hey Bob, thanks for your reply, strange thing is thats the one I'm trying to change. In fact I opened another EA just to check and was able to change it.

Hmmmmm so nothing you have done. I'll try some more at this end

James

sorted
I found this at another website from someone with a similiar problem. Try it.

In Indicators Folder Search For *.dat File, Delete It,
Reastart Mt4 And That Is It!
Regards
_________
  • #1,385
  • Oct 17, 2008 4:16am Oct 17, 2008 4:16am
[quote=nanningbob;2286975]Hey love that little chart on your screen, where did you get it??

Here it is and I find this other one (iExposure) useful as well, at a glance you know where each pair is makes it easier to see the death trade coming
Attached File(s)
File Type: mq4 Daily Range Calculator.mq4   15 KB | 316 downloads
File Type: mq4 iExposure.mq4   8 KB | 325 downloads
  • #1,386
  • Edited 5:01am Oct 17, 2008 4:49am | Edited 5:01am
El Salon
this indicator is a huge help

thanks
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Click to Enlarge Name: INDI.gif Size: 19 KB
M4X............ Hedging My Way To Profits!
  • #1,387
  • Edited 7:07am Oct 17, 2008 7:04am | Edited 7:07am
Trading 6pm EST-7am EST

This is the first demo I set up..I am also gathering data from an account (mini) that I just set up. The lot sizes here you would need a 10K account but not bad results for 1 week (Closed every morning mostly in small losses).


This is the

100/40 from what I am reading the 100/125 looks like the way to go. Thanks for everyones hard work and research.
Attached File(s)
File Type: doc DetailedStatement3 (2).doc   207 KB | 351 downloads
  • #1,388
  • Oct 17, 2008 9:31am Oct 17, 2008 9:31am
Hi guys,

Here is a very handy tool for those who get confused about their broker time differences and market hours.

It has most time zones built into it, so you can actually put your time zone or you broker's and see which market is currently running, what time the others will start and which overlap and when.

You can download it at http://www.forexmarkethours.com/
  • #1,389
  • Oct 17, 2008 12:08pm Oct 17, 2008 12:08pm
It looks like NanningBob turned the forex market into an atm machine. At least for this week, the new ea has even outperformed the 100/40 ea with more profit with the same amount of drawdown. I have been running both ea's side by side with the 8 recommended pairs. I am looking forward to next week.
  • #1,390
  • Oct 17, 2008 12:24pm Oct 17, 2008 12:24pm
Quoting toyoproxo
It looks like NanningBob turned the forex market into an atm machine. At least for this week, the new ea has even outperformed the 100/40 ea with more profit with the same amount of drawdown. I have been running both ea's side by side with the 8 recommended pairs. I am looking forward to next week.
Which 'new' one?
Running the reverse sets? ie, the buy only and the sell only?

or the 60/40, or the 100/125?
  • #1,391
  • Oct 17, 2008 12:30pm Oct 17, 2008 12:30pm
Quoting FrostCall
Which 'new' one?
Running the reverse sets? ie, the buy only and the sell only?

or the 60/40, or the 100/125?
I am sorry, the new one I am referring to is the 100/125 and the old one is 100/40.
  • #1,392
  • Edited 12:46pm Oct 17, 2008 12:31pm | Edited 12:46pm
Quoting toyoproxo
It looks like NanningBob turned the forex market into an atm machine.
Another thought.. I love that quote. I'm hoping to have 10, $2,000 accounts running within 6 months using this method. My goal is to make between $50 and $100 a day on each account, thus, letting me fall into a higher tax bracket

EDIT- I guess I should clarify how I plan on doing this. "The best laid plans of mice and men...."

I'm planning on banking HALF of my profits and then splitting my accounts every time they hit $4200 (for a bit of play in the account).
At about half of the current rate of growth, this should be doable. Then again, we all know how plans go.

EDIT- More:
Each $2000 account will run two sets of 8 pairs. I will mix up which versions of the EA run on each set for diversity sake.
They will all run at 0.01 lots on a micro account.

Once the accounts reach $4000 again, I will then bump them up to 0.03 or 0.04 lots depending on market volatility. But this is looking rather far down the road. I will burn these bridges when I get there.

Always good to keep a plan in mind you know.
  • #1,393
  • Oct 17, 2008 12:46pm Oct 17, 2008 12:46pm
Quoting FrostCall
Another thought.. I love that quote. I'm hoping to have 10, $2,000 accounts running within 6 months using this method. My goal is to make between $50 and $100 a day on each account, thus, letting me fall into a higher tax bracket

EDIT- I guess I should clarify how I plan on doing this. \"The best laid plans of mice and men....\"

I'm planning on banking HALF of my profits and then splitting my accounts every time they hit $4200 (for a bit of play in the account).
At about half of the current rate of growth, this should be doable. Then again, we all know how plans go.
Very smart plan. You understand this system very well. It is not more money and more lots but more accounts and less risk. Well, it is 4 am in the morning here. Cant sleep, but will try again. Night.
  • #1,394
  • Oct 17, 2008 1:19pm Oct 17, 2008 1:19pm
Quoting nanningbob
I think I will begin cataloging some of my questions and answers so they will be easy to find. I know there is a section of a couple of pages I gave examples and explanations of how to trade the death trade. I think it is in the 50 or 60s page.
Ever think about starting a new thread so you can continually update the 1st post with new information - might save on answering repetitive questions. Also, this system is different from Azaams so it may be better to have its own thread anyway. Just a thought.

In reviewing the past week on the 100/125 EA, I just realized that the sell EA didn't have the 800 pip stop loss (it was set to 0). Just from my initial look at the EA it appears that an 800 pip TRAILING stop was applied and not a stop loss. I never modified the EA so this is just a heads up for anyone using it that may have the same problem.

My results for the week were very nice. I was trading .01 lots on a mini account. I started up Monday night around 11 pm PST and let it ride until Friday at 1200 pm PST. I never shut it down and never took a stop loss hit (of course none of sells had stop losses so it may have missed a few). I started with a $3000 account and made $232.09 - I was averaging about $50 a day except today when i had to shut down and take about $20 in losses on open trades.

I'm going to let it run all next week at .02 lots and see how I do. Thanks again Bob.
  • #1,395
  • Oct 17, 2008 5:21pm Oct 17, 2008 5:21pm
Quoting Lincoln10
Ever think about starting a new thread so you can continually update the 1st post with new information - might save on answering repetitive questions. Also, this system is different from Azaams so it may be better to have its own thread anyway. Just a thought.

In reviewing the past week on the 100/125 EA, I just realized that the sell EA didn't have the 800 pip stop loss (it was set to 0). Just from my initial look at the EA it appears that an 800 pip TRAILING stop was applied and not a stop loss. I never modified the EA so this is just a heads up for anyone using it that may have the same problem.

My results for the week were very nice. I was trading .01 lots on a mini account. I started up Monday night around 11 pm PST and let it ride until Friday at 1200 pm PST. I never shut it down and never took a stop loss hit (of course none of sells had stop losses so it may have missed a few). I started with a $3000 account and made $232.09 - I was averaging about $50 a day except today when i had to shut down and take about $20 in losses on open trades.

I'm going to let it run all next week at .02 lots and see how I do. Thanks again Bob.
Yes but then I would get all the same questions again from new people, besides if you really want to learn reading this thread is a great education. However, I am thinking about it with the 100/125 because it is different from the 100/40. The problem is I dont have the time to do it. All the important questions were answered this summer when I was not working, eeehhhhhhh, school was closed I still had work. You have to do some research and have some knowledge to do this, it isnt a set up and run EA you have to do a little work.
  • #1,396
  • Oct 17, 2008 5:46pm Oct 17, 2008 5:46pm
Quoting nanningbob
Yes but then I would get all the same questions again from new people, besides if you really want to learn reading this thread is a great education. However, I am thinking about it with the 100/125 because it is different from the 100/40. The problem is I dont have the time to do it. All the important questions were answered this summer when I was not working, eeehhhhhhh, school was closed I still had work. You have to do some research and have some knowledge to do this, it isnt a set up and run EA you have to do a little work.
I agree, I think the work and time that has gone into the development of these EAs at least deserves some studying and research.

This EA is free...so they need to put in some kind of work for it Otherwise, I don't think it would be truly appreciated.

Bob, you need to get in touch with Azaam and copyright these EAs. They are very effective and someone might just get a bright idea to sell them.

Thank you for all your work, along with everyone who put time and effort into this. You have not only been extremely generous, but you literally gave some people a shot at a better life. LITERALLY.
  • #1,397
  • Edited 6:13pm Oct 17, 2008 5:52pm | Edited 6:13pm
I want to thank Lincoln for asking a key question, it got me thinking and finally I said "Why not?" So Lincoln this is what happened. I thought the 100/40 is successful with a 3-400 pip range why not a 600 pip range EA. So I took the 100/125 and changed it to 4 levels and put in a 600 pip stop loss. (The stop loss operates from the EA I would like someone to design the stop loss to be posted at their trading company)

Now we trade both ways, use currencies that dont go over 600 pips in one day. (use the same currencies recommended in the original post of the 100/125) It takes profit as it goes one direction but the account increases debt until the market switches direction then WOW the profit overtakes the accumulated debt and you have profit. Without that 5th level you can add to the starting lot and make more money. You only have to worry about trades that go over 600 pips but we are stopping them at 600.

Those of you who have an account where .01 is ten cents you could try it with this and see how it works. I am posting two versions of this EA. One is set at .04 for those who can trade with pennies. This will give you a 4 cent trade, see red figures below. The other is the 1.4 (.01) it will trade .01 lots one penny on penny accounts .10 on dime accounts. Check your MT4 to make sure which one you are doing. I traded the 1.4 for one day and knocked down over 200 dollars on a 1200 account. That was real money not demo. Below are the figures, the red ones are the 4 levels for ver. 1.04 and the green ones are for the version 1.04 (.01)

.01 .02 .03 .04 .05 .10
.03 .06 .09 .12 .15 .30
.09 .18 .27 .36 .45 .90
.27 .54 .81 1.08 1.35 2.70
Attached File(s)
File Type: mq4 100x125 buy ver. 1.4.mq4   24 KB | 372 downloads
File Type: mq4 100x125 sell v 1.4.mq4   24 KB | 344 downloads
File Type: mq4 100x125 buy ver. 1.4 (.01).mq4   24 KB | 371 downloads
File Type: mq4 100x125 sell ver. 1.4 (.01).mq4   24 KB | 347 downloads
  • #1,398
  • Edited 6:25pm Oct 17, 2008 5:54pm | Edited 6:25pm
Please test and see if I have made anymore mistakes. I think I have corrected all the previous ones. When I get confirmation that they are working properly then I may start a new thread for range trading and keep this thread for the 100/40. The 1.4 is the one I used on my live account so it should work.

Good luck.
  • #1,399
  • Oct 17, 2008 6:24pm Oct 17, 2008 6:24pm
Quoting dmitry_dos
I agree, I think the work and time that has gone into the development of these EAs at least deserves some studying and research.

This EA is free...so they need to put in some kind of work for it Otherwise, I don't think it would be truly appreciated.

Bob, you need to get in touch with Azaam and copyright these EAs. They are very effective and someone might just get a bright idea to sell them.

Thank you for all your work, along with everyone who put time and effort into this. You have not only been extremely generous, but you literally gave some people a shot at a better life. LITERALLY.
You can copyright the EAs but it doesnt change the fact that someone may try to sell them. All they have to do is write their own code, seal it and put it out as their own. That has happened before and will happen again. Even though I may get credit for the philosophy of the EA, it was the public posting and discussion that went with it that got us here. If Azaam had decided not to make his EA public which he borrowed from another EA that was made public and the original 10.3 was not made public, we would not be here today.

There are websites that have borrowed these public EAs and have tried to sell them as their own. But this would not be where it is today without all these public contributions. My philosophy is a bit different, "Give and it shall be given unto you" Sometimes a person's reward does not have to be financial. My hope is anyone who makes money with my EA is as generous with their money to others as they have received it.
  • #1,400
  • Oct 17, 2008 7:40pm Oct 17, 2008 7:40pm
Hey folks, tell me why this idea wouldn't work. Instead of trading multiple pairs and dragging down your margin, trade only one big mover such as the EUR/AUD or GBP/JPY. Set max. trades to 15 and let'er rip all week. Close on Friday as usual. Over the last two weeks the GBP/JPY would have made you close to $2000 and the EUR/AUD over $3000 trading pennies. Maximum drawdown would have been less than 20%. As currencies calm down add additional big movers.
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