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Is This My Holy Grail EA :D

  • #1,461
  • Oct 21, 2008 9:52am Oct 21, 2008 9:52am
I have not posted results of my 100/40 for a while. This is the last 10 days not using the more volatile pairs. Basically the 8 nonvolatile pairs mentioned earlier plus the EUR/JPY and AUD/NZD. I am trading .05 per lot. This has been good old reliable.
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  • #1,462
  • Oct 21, 2008 10:13am Oct 21, 2008 10:13am
Well, that sucked. Woke up this morning and found my floating profit to be about -$1500. I had a few that were outside of the bounds of the EA. Closed em all down. -$989 for the week so far. Still up overall. It seems every pair that had GBP went outside of the bounds of the EA. Looks like the GBP is falling like a rock.

It really sucks when things don't retrace and you forget to put in a stoploss
  • #1,463
  • Oct 21, 2008 10:28am Oct 21, 2008 10:28am
Quoting FrostCall
Well, that sucked. Woke up this morning and found my floating profit to be about -$1500. I had a few that were outside of the bounds of the EA. Closed em all down. -$989 for the week so far. Still up overall. It seems every pair that had GBP went outside of the bounds of the EA. Looks like the GBP is falling like a rock.

It really sucks when things don't retrace and you forget to put in a stoploss
damn pound. glad i took it out of my list. Fool me once and you're out !
  • #1,464
  • Oct 21, 2008 10:42am Oct 21, 2008 10:42am
As a side note, I'm back in, trading both ways right now. I've been meaning to start doing it this way, this just gives me an excuse
  • #1,465
  • Oct 21, 2008 2:57pm Oct 21, 2008 2:57pm
Doesnt Anybody Love The British Anymore???
  • #1,466
  • Oct 21, 2008 5:07pm Oct 21, 2008 5:07pm
Once again I am looking for our countertrading friends, the Japanese to bail out the retracement. Even with the extra room of the 100/125, dropping the GBP/JPY, GBP/CHF, EUR/JPY and EUR/AUD, some of these currencies are pushing the envelope. We love the excitement, dont we folks.
  • #1,467
  • Oct 21, 2008 6:30pm Oct 21, 2008 6:30pm
See below, still profit with GU for last 2 days:
Death trade avoidance:
1)Refer to Daily Pivot for start trade south or north.
2)Limit total profit e.g: 4 to 5 dollars then closeall when hit, enough for the day with GU.
3) start again the next day.

I've back test this in August :
if use normal 100/40 without this guide, most days is against trend, meaning death trade. Seems it repeat again for the last 2 days.
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  • #1,468
  • Oct 21, 2008 9:24pm Oct 21, 2008 9:24pm
The latest system (100 125 1.4) has not done well since I started it on Sunday. I was using only .02 lots on a $2,000 account running the 8 recommended pairs. It still lost 30% of the account hitting stop loss on eur/jpy and gbp/usd. However, 100/40 is breakeven since I closed out and restarted yesterday for a small loss. I think 100/40 is going to be the best system for the long term.
  • #1,469
  • Oct 21, 2008 11:33pm Oct 21, 2008 11:33pm
The current problem is that most of the retraces for the past few days are much less than 100 pips. Hence, the EA's will never take profits. The ONLY thing I've been able to make a profit on (and it's only a few bucks) is running things in reverse (so, buying with the trend). Of course, I've still lost about 50% this week so I'm out until things settle a bit.

The reason I'm getting burned in the past few days has to do with my more reckless trading habits right now. I'm NOT using any of my early warning systems that are currently SCREAMING 'Stay out of the market' for most currencies. Bob posted a really nice one yesterday. the ATR that Tdion likes is WAY over the norm. If I turn on the ATR stop on my bastardized version of 100/40, it won't trade at all (since the ATR is high on most currencies).

So, let this be a lesson to me and you, don't be reckless. Sometimes, you make more money by staying out than you do by being in.
  • #1,470
  • Oct 21, 2008 11:40pm Oct 21, 2008 11:40pm
Quoting FrostCall
The current problem is that most of the retraces for the past few days are much less than 100 pips. Hence, the EA's will never take profits. The ONLY thing I've been able to make a profit on (and it's only a few bucks) is running things in reverse (so, buying with the trend). Of course, I've still lost about 50% this week so I'm out until things settle a bit.

The reason I'm getting burned in the past few days has to do with my more reckless trading habits right now. I'm NOT using any of my early warning systems that are currently SCREAMING 'Stay out of the market' for most currencies. Bob posted a really nice one yesterday. the ATR that Tdion likes is WAY over the norm. If I turn on the ATR stop on my bastardized version of 100/40, it won't trade at all (since the ATR is high on most currencies).

So, let this be a lesson to me and you, don't be reckless. Sometimes, you make more money by staying out than you do by being in.

you are right... 100/125 on demo went -2000 on a $3000 account.
Why?
I did not close it out yesterday during the small retract.
reckless and greed

But since I'm able to monitor the trade all day, I'm going back to 100/40.
I can close a death trade anytime while I'm trading.
Also the numbers you see is easier on the heart, that of course also mean less profit.
  • #1,471
  • Oct 21, 2008 11:57pm Oct 21, 2008 11:57pm
You are right, I forgot to mention Greed.

I was reckless and greedy.

I promise to TRY to play things smarter like I did a few weeks ago. And as of right now, that means sitting it out (until next week when the 2k to 60k challenge starts!). I think I will be running fewer pairs and I will actually try for $50 a day instead of $300 like I'm doing right now (since I'm a reckless greedy person )
  • #1,472
  • Oct 22, 2008 12:46am Oct 22, 2008 12:46am
Well, the only thing working is the 100/40, if you are on the good side of the pound. Talking about the 100/125 going out of range WOW. I think this may be a good week to stay on the sidelines for bit. At least he AUD/NZD was safe. Even the slow CHF/JPY had a big move along with the EUR/CHF. Tough day, Yesterday I thought to myself, self, why dont you just sit the USA market out today and be happy your even for the week. I said to myself, the worst is over, should be able to trade it safely today. Well guess not. Even took a hit on the 100/40 but it was not that damaging. I live to trade another day.
  • #1,473
  • Oct 22, 2008 3:16am Oct 22, 2008 3:16am
The 100/40 is what I was trading when I missed the death trade (sleeping) and lost about 50% Still up over all, but damn.
  • #1,474
  • Oct 22, 2008 3:57am Oct 22, 2008 3:57am
Quoting akukaya
See below, still profit with GU for last 2 days:
Death trade avoidance:
1)Refer to Daily Pivot for start trade south or north.
2)Limit total profit e.g: 4 to 5 dollars then closeall when hit, enough for the day with GU.
3) start again the next day.

I've back test this in August :
if use normal 100/40 without this guide, most days is against trend, meaning death trade. Seems it repeat again for the last 2 days.
Hi there.

In the light of the big moves over the last day or so it is clear that we need to build a more robust exit strategy to avoid the death trade. You seem to have an alternative approach. would you mind posting the pivot indicator you use and the take profit close all

Thanks

James
  • #1,475
  • Oct 22, 2008 4:22am Oct 22, 2008 4:22am
Quoting nanningbob
Well, the only thing working is the 100/40, if you are on the good side of the pound. Talking about the 100/125 going out of range WOW. I think this may be a good week to stay on the sidelines for bit. At least he AUD/NZD was safe. Even the slow CHF/JPY had a big move along with the EUR/CHF. Tough day, Yesterday I thought to myself, self, why dont you just sit the USA market out today and be happy your even for the week. I said to myself, the worst is over, should be able to trade it safely today. Well guess not. Even took a hit on the 100/40 but it was not that damaging. I live to trade another day.
Hey Bob.

Just thinking the pivot indicator you posted updates each day so it may not warn you of the death trade as intended. So I think if you place your own lines on top of the indicator lines then then next day you still have your reference points if one side of the 100/125 is in a big hole. If everything is cool then you move your lines to the new position of the indicator lines again.
  • #1,476
  • Oct 22, 2008 5:45am Oct 22, 2008 5:45am
Quoting El Salon
Hey Bob.

Just thinking the pivot indicator you posted updates each day so it may not warn you of the death trade as intended. So I think if you place your own lines on top of the indicator lines then then next day you still have your reference points if one side of the 100/125 is in a big hole. If everything is cool then you move your lines to the new position of the indicator lines again.
Yes it is a day by day indicator. That is what it is suppose to do. The Pound trades of the last several days, if you got out when it crossed the pink lines your losses would have been controlled, that is what it is warning you about. That is what it was for.

If you have to leave and go somewhere you can put stop losses just past the line to protect your account. If you want to play the bounce off of it too see if you get your retracements. Trades that carry over into the next day I often close for small losses so they dont turn into big ones or I will close everything and restart the next day. I like having my full EA protection every day. Each currency you can make choices but I have learned the hard way to have a fresh field whenever I leave my computer for extended periods of time. To take losses of less than 100 dollars is much more preferable than to come home and find out I am deep in the hole because I didnt think taking out trades at levels 3 or 4 didnt matter. I like having all 8 levels available.

This morning (your evening in the USA) I wanted to play for the retrace during the JPY session and I left for a while and came back deep in the hole. I should have just taken the loss and restarted, I would have had a much better day. I would have been close to recapturing the loss by now, instead it will take a couple of days to recover. It was a stupid decision on my part.
  • #1,477
  • Oct 22, 2008 5:47am Oct 22, 2008 5:47am
Quoting FrostCall
The 100/40 is what I was trading when I missed the death trade (sleeping) and lost about 50% Still up over all, but damn.
I regret not taking my loss at the pink line today. I would have been much better off. I am so used to the GBP/USD retracing I just didnt think it would be a problem. One of those rare days.
  • #1,478
  • Oct 22, 2008 6:21am Oct 22, 2008 6:21am
dear

I am a muslim, and I hve questiona about halal or not trading forex according islamic.



thank


agung pambudi
www.moslempic.blogspot.com
  • #1,479
  • Oct 22, 2008 7:17am Oct 22, 2008 7:17am
Quoting El Salon
Hi there.

In the light of the big moves over the last day or so it is clear that we need to build a more robust exit strategy to avoid the death trade. You seem to have an alternative approach. would you mind posting the pivot indicator you use and the take profit close all

Thanks

James
Hi El Salon,

attached the pivot indi, I got it from FF too.

Update is today trades and the last 2 days results
limit profit is available in Bob EA, mine target per day closeall when reach 4 dollars with deposit of USD80. Just today due to 1st profit hit so fast9few minutes after my previous post, I start it again and still hit profit.
Attached Image (click to enlarge)
Click to Enlarge Name: 3rd days.GIF Size: 51 KB
Attached File(s)
File Type: mq4 Pivots_Daily_SR.mq4   16 KB | 605 downloads
  • #1,480
  • Oct 22, 2008 10:07am Oct 22, 2008 10:07am
Bob, was it you that said you'd quit trading if the market ever moved 800+ points without a retrace? Care to retract?

By the way, my demo 100/125 that I'm running all week is currently down 50%. I guess I can't be lazy with this one either.
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