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100 x 80 EA oh boy

  • #61
  • Edited 3:10am Nov 5, 2008 2:00am | Edited 3:10am
Quoting forexisfx
i think the current configuration is good. I'm up 600 pips about an hour ago. Yesterday was up 300 pips.
I am also up around 400 pips with hardly any floating loss. Started 4 hrs ago..

I removed EURCHF AND CHFJPY.

I am only using USDCAD, USDJPY, EURUSD, AUDUSD, AUDJPY, EURJPY, GBPUSD and USDCHF. I am also following trader101, so these pairs are on either side of his BUY SELL (4 each) Basket. Just an hunch that these will provide hedge. Floating loss is around 200 pips only after netting 600 pips so far today.
"Put all your efforts in becoming effortless"
  • #62
  • Nov 5, 2008 3:09am Nov 5, 2008 3:09am
Nice. Anyone trading this live ? I only know nanningbob live this system. Demo and live always have different result although using the same EA. I have read so many post on forum that their broker hunt their account till it dry out.
  • #63
  • Nov 5, 2008 3:26am Nov 5, 2008 3:26am
Quoting IamTHAT
Have you tried any other settings for TP and using a trailing SL. Is there any basis for TP of 100?
I have tried many different packages over the year and the 100 TP has always been the most profitable and stable. If you have a smaller TP you have a smaller range on the EA and if you go bigger you will have currencies that wont hit it. It is a mathematical formula I have used and seems to be the most successful. You can go to the other thread and read how this was all developed over the last 10 months.

Trailing SL would not work because of the multiple levels, it will close out a trade before it becomes profitable.
  • #64
  • Nov 5, 2008 3:43am Nov 5, 2008 3:43am
Quoting nanningbob
I have tried many different packages over the year and the 100 TP has always been the most profitable and stable. If you have a smaller TP you have a smaller range on the EA and if you go bigger you will have currencies that wont hit it. It is a mathematical formula I have used and seems to be the most successful. You can go to the other thread and read how this was all developed over the last 10 months.

Trailing SL would not work because of the multiple levels, it will close out a trade before it becomes profitable.
Thanks very much. Finally, what about multiplication factor? I see that double lots are used in succeeding orders. Is ir essential? Can we avoid that?

I am itching to go live with a micro account now..800 pips today with 200pips floating minus at present.
"Put all your efforts in becoming effortless"
  • #65
  • Nov 5, 2008 3:55am Nov 5, 2008 3:55am
Quoting forexisfx
Nice. Anyone trading this live ? I only know nanningbob live this system. Demo and live always have different result although using the same EA. I have read so many post on forum that their broker hunt their account till it dry out.
I am testing this system and in the first day has given me positive results provided that you set the lots up to 0,04-3 max with a deposit of 5,000 $. Concerning your issue about brokers chasing your account, I believe this is a pure legend.

If I go live with this system, I will open the same positions on a demo and a real account. If my broker chases my real account and my demo has far better positive results, it will not take much to show him that he has to reimburse me all the "chasen" profits.

But I do not think this will never happen: remember, serious brokers risk their job if you can prove the regulation authority that they cheat clients. I do not think this is in their best interest!
  • #66
  • Nov 5, 2008 3:59am Nov 5, 2008 3:59am
Here is my live for this week so far. You can see where I took out the GBP/USD and later CHF/JPY. We will see how the rest of the week shows.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 5 KB
  • #67
  • Nov 5, 2008 4:38am Nov 5, 2008 4:38am
Quoting IamTHAT
Thanks very much. Finally, what about multiplication factor? I see that double lots are used in succeeding orders. Is ir essential? Can we avoid that?

I am itching to go live with a micro account now..800 pips today with 200pips floating minus at present.
I wanted to go live as well. But i need to find a good broker which use mt4 platform. I am living in Asia and i think interbank fx might be a good option for me. I'm planning to deposit around $300 mini account trading 0.05 lots on 6 currency pairs.

So far my demo with $300 on interbankfxmini has been great. Max dd i saw was around -$25. What do u guys think about interbank fx for this system ?
  • #68
  • Nov 5, 2008 4:41am Nov 5, 2008 4:41am
I have close all my trades, this is my result for today.

Thnx nanningbob for the birth of this system.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 6 KB
  • #69
  • Nov 5, 2008 5:01am Nov 5, 2008 5:01am
Quoting IamTHAT

I removed EURCHF AND CHFJPY.

I am only using USDCAD, USDJPY, EURUSD, AUDUSD, AUDJPY, EURJPY, GBPUSD and USDCHF. I am also following trader101, so these pairs are on either side of his BUY SELL (4 each) Basket. Just an hunch that these will provide hedge. Floating loss is around 200 pips only after netting 600 pips so far today.
I think T101 basket trading system doesn't really do the magic in this system. IMO, we should select pairs to trade based on our account size and the risk u willing to take. I guess if u are trading this live, ur account must not be less than $1000 since u are trading the "heavy duty" pairs, EURJPY, GBPUSD, AUDJPY.

As for me, i remove the heavy duty pair and go to safe pair since I am planning only to deposit around $300 account and i don't wanna margin call my account anytime soon.
  • #70
  • Nov 5, 2008 5:16am Nov 5, 2008 5:16am
Quoting forexisfx
I wanted to go live as well. But i need to find a good broker which use mt4 platform. I am living in Asia and i think interbank fx might be a good option for me. I'm planning to deposit around $300 mini account trading 0.05 lots on 6 currency pairs.

So far my demo with $300 on interbankfxmini has been great. Max dd i saw was around -$25. What do u guys think about interbank fx for this system ?
I think IBFX is the only option for MT4 now. My account is ready to be funded which I wanted to use for Trader101 system.
Go live soon so that I will have one more person to guide me in future!
"Put all your efforts in becoming effortless"
  • #71
  • Nov 5, 2008 8:10am Nov 5, 2008 8:10am
I just want to know the two settings: Multiply and Max Trades. Can they be adjusted to limit exposure..

Thanks
"Put all your efforts in becoming effortless"
  • #72
  • Nov 5, 2008 5:55pm Nov 5, 2008 5:55pm
I ran the ea last night (started 0400 gmt) and picked up approx 2400 pips. When I woke up & checked there was a 540 pip floating loss but that went away & I closed out the trades about 1400 gmt with minimal floating loss.
I closed one trade manually for 600 pips that was trying to get to its TP level as I figured why risk letting that fade away. it was close anyway.

I plan on running it again beginning with the Asian open or there abouts.

Very interesting. I must say Bob your work is way over my head but it is truly a generous thing that you share your insights with everyone.
  • #73
  • Nov 5, 2008 5:55pm Nov 5, 2008 5:55pm
Quoting IamTHAT
I just want to know the two settings: Multiply and Max Trades. Can they be adjusted to limit exposure..

Thanks
Here is the original version of the program so you can go in and make changes. I have it set at .02 a trade instead of .01.
Attached File(s)
File Type: mq4 100x80 BUY 8L .02.mq4   24 KB | 1,000 downloads
File Type: mq4 100x80 SELL 8L .02.mq4   24 KB | 931 downloads
  • #74
  • Nov 5, 2008 6:27pm Nov 5, 2008 6:27pm
Quoting tommyd
I ran the ea last night (started 0400 gmt) and picked up approx 2400 pips. When I woke up & checked there was a 540 pip floating loss but that went away & I closed out the trades about 1400 gmt with minimal floating loss.
I closed one trade manually for 600 pips that was trying to get to its TP level as I figured why risk letting that fade away. it was close anyway.

I plan on running it again beginning with the Asian open or there abouts.

Very interesting. I must say Bob your work is way over my head but it is truly a generous thing that you share your insights with everyone.
The math, exponential numbers etc. can be complicated but this is as simple I can make the system so you understand the basics. You are trading both ways within a 800 point range of your entry. It is basically the odds are price will move over 100 pips in one direction on any currency on any given day. It will then retrace at some point creating a profit margin between what it has banked and the leftover negative balance which begins reducing because of the retracement. The three uglies are:

1. price goes over 800 pips in one direction without a major retracement creating what we call a death trade. A large loss. Price goes outside the range of the EA. GBP/JPY, EUR/AUD examples. (a possibility but unlikely scenario if you play the slower currencies) Also NZD currencies will sometimes just spike 1000 pips or more. This has happened several times recently.
2. Price only goes in one direction for the day thereby not creating the profit scenario. This can happen on some days so you play multiple currencies in the hope that when one or two currencies do this the others will make enough profit to overcome the ones that didn't. This scenario usually happens when you use crosses that have a major currency matched with a minor currency. USD/CAD, NZD/USD, EUR/AUD, GBP/NZD.etc The minor currencies simply dont have enough power to overcome a major currency fundamental move. They simply are not strong enough to cause a retracement. You should try to use majors with majors and minors with minors aud/nzd, eur/gbp, eur/usd etc. Some of you have thought about using trader 101 system with this and I have thought about that too but you must be very careful with the major/minor crosses for that reason.

3. The third ugly which just started in the marketplace 4 weeks ago, the news is so bad that 800 pips is not enough room. I dont play the gbp/jpy, eur/jpy, gbp/chf and any pound currency right now for that reason. Even the good old standby gbp/usd is going nuts.

If you use only currencies that stay within that range and you exit at some point every day and restart the next. You should make a profit almost every day. That in a nutshell is it. Before the economic crisis I safely traded a similar system using a 400 pip range for 6 months and it worked well. This is my attempt to trade this volatile market. I am having some good days and some bad days. This is a very difficult market to trade.

Just to give you an idea of how volatile it has been. I am used to making 5-15% a week with my various EAs. Last week I put 500 dollars into a live account and yesterday it had tripled to just under 1500. Then in less than 30 minutes the EUR/CAD spiked almost 300 points and bye bye 300 dollars. That didnt happen on this ea in this post but on another one that had been going very strong for me. It is just a very volatile market and can be very scary at times.
  • #75
  • Nov 5, 2008 6:52pm Nov 5, 2008 6:52pm
Thanks and I do appreciate you taking your time to explain your work.
  • #76
  • Edited 8:46pm Nov 5, 2008 8:30pm | Edited 8:46pm
Quoting nanningbob
The math, exponential numbers etc. can be complicated but this is as simple I can make the system so you understand the basics. You are trading both ways within a 800 point range of your entry. It is basically the odds are price will move over 100 pips in one direction on any currency on any given day. It will then retrace at some point creating a profit margin between what it has banked and the leftover negative balance which begins reducing because of the retracement. The three uglies are:

1. price goes over 800 pips in one direction without a major retracement creating what we call a death trade. A large loss. Price goes outside the range of the EA. GBP/JPY, EUR/AUD examples. (a possibility...
Those words are golden. I think it will benefit anyone who is new to this system by posting it in post #1. Especially the part where u explain how the EA wouldn't work.

One thing i would like to point out is that the slowest currency wouldn't work well. The currency pair i had observe which wouldn't work well is EURGBP. Some of the day it wouldn't/barely touch 100 pips and it move very very slowly. If the market is back to what it used to be, EURGBP would not work with this EA. To play safe, i wouldn't have EURGBP in my list.

Anyone using this system trading with EURGBP ?
  • #77
  • Nov 5, 2008 9:09pm Nov 5, 2008 9:09pm
Quoting nanningbob
The math, exponential numbers etc. can be complicated but this is as simple I can make the system so you understand the basics. You are trading both ways within a 800 point range of your entry. It is basically the odds are price will move over 100 pips in one direction on any currency on any given day. It will then retrace at some point creating a profit margin between what it has banked and the leftover negative balance which begins reducing because of the retracement. The three uglies are:

1. price goes over 800 pips in one direction without a major retracement creating what we call a death trade. A large loss. Price goes outside the range of the EA. GBP/JPY, EUR/AUD examples. (a possibility...

Bob,

What system and pairs managed to do this?
  • #78
  • Nov 5, 2008 9:11pm Nov 5, 2008 9:11pm
Quoting toyoproxo
Bob,

What system and pairs managed to do this?
This is why I posted this EA early. I cant honestly answer that question at his time. The best pairs are the ones that wont go over 600 pips a day.
  • #79
  • Nov 5, 2008 9:29pm Nov 5, 2008 9:29pm
Here is a visual presentation of the system and how it works. I am using the GBP/USD for an example over a 3 day period. The white dotted lines are every 24 hours, the double line is the start of the week.

Letter A: Monday you turn on the EA and it enters both directions.
Letter B: As it heads for letter B it will profit every 100 pips and enter negatively every 80 so you are putting money in the bank but you have a growing deficit.
Letter C: Price has now retraced to your beginning point and the profits accumulated going up and the profits accumulated going down are greater than your accumulated deficit. You close for the day and you are in profit.
Letter D: Price continues to run and by the end of the day your deficit is greater than your profit. You now can take a loss for the day or wait the next day to see if you get enough retracement to bring you back into profit.

Letter E: Price retraces from the low enough to bring you back to a profit or minimize your loss to an acceptable level. The distance from Monday's low to E is 126 pips. You either have taken profit or close enough not to lose much money.

Day 2 scenario: This is the most common trading scenario for most currencies.

Letter E is your entrance you go to F.
Letter F price reverses and starts heading for its high for the day.
Letter G is your high and now price reverses.
Letter 2nd E: you have had a great day because you did 3 profit runs E to F then F to G and then the deficit is reduced when it goes to the second E (sorry I meant to put an H there)

This is the most common currency day, prices goes to one direction reverses goes to its high/low and then settles back some before the day ends. You can see another version of it after day 2. Price does not have to go back near the starting point to be successful it just needs enough of a reversal to lessen the carried deficit to where the take profits are greater. Obviously the most profitable days is when the reversal is over 100 points.

I hope this visual helps you understand how this is suppose to work. As long as we stay within that 2-700 pip range it works great.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd 3 days.gif Size: 16 KB
  • #80
  • Nov 5, 2008 9:37pm Nov 5, 2008 9:37pm
Quoting forexisfx
Those words are golden. I think it will benefit anyone who is new to this system by posting it in post #1. Especially the part where u explain how the EA wouldn't work.

One thing i would like to point out is that the slowest currency wouldn't work well. The currency pair i had observe which wouldn't work well is EURGBP. Some of the day it wouldn't/barely touch 100 pips and it move very very slowly. If the market is back to what it used to be, EURGBP would not work with this EA. To play safe, i wouldn't have EURGBP in my list.

Anyone using this system trading with EURGBP ?
I have never done my own thread before so if someone can point me to how I can go back to page one put these posts there it would be great.
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