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100 x 80 EA oh boy

  • #141
  • Nov 10, 2008 1:57am Nov 10, 2008 1:57am
anyone following the new low risk currency setting for 600 pips range ? Haven't got 1 currency TP yet. I open trades on GMT+0 0:00. Looks kind of slow. I think tomorrow gonna be even worst becoz of US bank holiday

nanningbob, any comments on the new setting ?
  • #142
  • Nov 10, 2008 2:11am Nov 10, 2008 2:11am
Quoting forexisfx
anyone following the new low risk currency setting for 600 pips range ? Haven't got 1 currency TP yet. I open trades on GMT+0 0:00. Looks kind of slow. I think tomorrow gonna be even worst becoz of US bank holiday

nanningbob, any comments on the new setting ?
Yes it is so good seeing a normal market. I am not going to complain.
  • #143
  • Nov 10, 2008 2:59am Nov 10, 2008 2:59am
Also the currencies I chose should be able to run all day. Unless something really drastic happens they have not gone outside the EA even during these crazy times. So be patient and let the day unfold. I plan on letting them run all day unless I see good profit or something happens that convinces me to close, like Israel and Iran fighting or Euro drops interest rates 2 points.

For example even though the EA had not taken any TP it did have a 5.00 profit so I took it and restarted so it would have the full 600 pip range for the USA open. These are some of the things I will do sometimes to make sure I don't have problems later. I take my profits if it is a slow day, not every day is a big winner.
  • #144
  • Edited 6:05am Nov 10, 2008 3:11am | Edited 6:05am
Quoting nanningbob
Also the currencies I chose should be able to run all day. Unless something really drastic happens they have not gone outside the EA even during these crazy times. So be patient and let the day unfold. I plan on letting them run all day unless I see good profit or something happens that convinces me to close, like Israel and Iran fighting or Euro drops interest rates 2 points.

For example even though the EA had not taken any TP it did have a 5.00 profit so I took it and restarted so it would have the full 600 pip range for the USA open. These are some of the things I will do sometimes to make sure I don't have problems later. I take my profits if it is a slow day, not every day is a big winner....
A question for u, will it be better if the TP is change to 80 ?

The benefit of using TP 80:

(1) Lesser TP allow to free up the margin faster in the case when it goes to higher level.

(2) Lesser TP allows the EA to reset itself (highest level TP = close all position[build in feature] ) more easily when it reaches level 2 and above.

(3) Lesser TP catch profit for those retrenchment below 100

What's the benefit of using TP 100 VS TP 80 ?


Looking forward to learn more of this system from your reply. Thnx
  • #145
  • Nov 10, 2008 3:24am Nov 10, 2008 3:24am
I was wondering the same about lowering the the take profit level.

One other question , I have searched but can not locate any adjustment to bring the range down to 600 pips.
I have looked in the ea and there is nothing on the indicator side.

maybe I missed something....

and if you are starting with .05 lots what adjustment is needed in the lot progression factor.
  • #146
  • Nov 10, 2008 3:27am Nov 10, 2008 3:27am
Quoting tommyd
I was wondering the same about lowering the the take profit level.

One other question , I have searched but can not locate any adjustment to bring the range down to 600 pips.
I have looked in the ea and there is nothing on the indicator side.

maybe I missed something....

and if you are starting with .05 lots what adjustment is needed in the lot progression factor.
Change the EA "pips" to 60 and u have 600 range.

Factors remains the same. we are increasing lot becoz those selected currency pairs are low risk and the chance of them going over the range is very unlikely. Therefore, we can risk more lots.
  • #147
  • Nov 10, 2008 3:27am Nov 10, 2008 3:27am
thanks....
  • #148
  • Nov 10, 2008 6:27am Nov 10, 2008 6:27am
Nanningbob & forexisfx,

Today I tried the EA for the first time, unfortunately none of the target prices have been reached, I started the EA at 00:00GMT and its still running as of now which is 14:30 GMT

I traded the "safe 6" pairs suggeted by Nannigbob which I believe forexisfx traded as well, I traded 0.05 lots, other than this I have not made any other changes to the EA.

Have you guys had similar results? Should we change the pairs as someone else bagged 700 pips.
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  • #149
  • Nov 10, 2008 6:29am Nov 10, 2008 6:29am
Quoting Fx-Seer
nanningbob Thanks so much for your wonderfull system... I demo it today and the results are impressive I started this AM and waiting for the NY to close it out and see the result of this BABY....

so far it has locked in 700 pips and still counting.....

One question, why cant the EA close all the trades before the begining of the NY as per your exit rules.... or once it reaches a % of profit and close all the trades, it would be awesome if this could be addded into the EA....

CHEERS
Fxseer

Fxseer,

What pairs did you trade and what lot size?
  • #150
  • Nov 10, 2008 8:22am Nov 10, 2008 8:22am
This is a little off the path. With this EA we're buying and selling a pair at the same time. Do you consider this as hedging? I remember last year, my accountant wanted to know if any of my forex trading involved hedging. If this is considered hedging I'll probably have to inform the IRS of this on next years tax return. My question to you is limited to- do you think this is hedging? Thanks
  • #151
  • Nov 10, 2008 3:47pm Nov 10, 2008 3:47pm
Quoting Toothman
This is a little off the path. With this EA we're buying and selling a pair at the same time. Do you consider this as hedging? I remember last year, my accountant wanted to know if any of my forex trading involved hedging. If this is considered hedging I'll probably have to inform the IRS of this on next years tax return. My question to you is limited to- do you think this is hedging? Thanks
I dont know the IRS rules on hedging but the EA is just designed to trade both ways. It enters both the buy and sell at the same time so those trades are hedged. It some times can have 2 or 3 levels going at the same time in both directions and the MT4 will hedge them but it was not designed to be a hedging system. However, the program and trading system does take advantage of that feature. So trading both directions causes the hedging to happen, which is a plus for margin usage. Why in the world would the IRS care about whether I trade hedging or not, SHEEEEEEEEEESH?????????
  • #152
  • Nov 10, 2008 3:50pm Nov 10, 2008 3:50pm
Quoting Fx-Seer
nanningbob Thanks so much for your wonderfull system... I demo it today and the results are impressive I started this AM and waiting for the NY to close it out and see the result of this BABY....

so far it has locked in 700 pips and still counting.....

One question, why cant the EA close all the trades before the begining of the NY as per your exit rules.... or once it reaches a % of profit and close all the trades, it would be awesome if this could be addded into the EA....

CHEERS
Fxseer
Actually those features are built into the EA if you want to set them. I use the start up feature on Mondays when the gaps are big so my trades will start later. It has % and dollar amount but I have not played with them that much. I dont use them because the market doesnt do the same thing everyday. You can demo test them and see how they work for you.
  • #153
  • Edited 4:19pm Nov 10, 2008 4:01pm | Edited 4:19pm
Quoting forexisfx
A question for u, will it be better if the TP is change to 80 ?

The benefit of using TP 80:

(1) Lesser TP allow to free up the margin faster in the case when it goes to higher level.

(2) Lesser TP allows the EA to reset itself (highest level TP = close all position[build in feature] ) more easily when it reaches level 2 and above.

(3) Lesser TP catch profit for those retrenchment below 100




Looking forward to learn more of this system from your reply. Thnx
What's the benefit of using TP 100 VS TP 80 ?

10 months ago I came up with a math formula for trading and it has seemed to work very well throughout the year. I tried different formulas and this seemed to work best. If you move your TP to 80 then the reentry levels should be 20% or the TP. So 20% of 100 is 80 reentry. The reentry for 80 then would be 64. 64 x 10 levels gives the EA a range of 640. If you want to trade lower risk you go 8 levels or 512 range EA. If you have lots of funds you can go 15 levels. I am not willing to risk those kind of funds. Reward versus risk ratios. That is the mathematical formula I use for 2.0 multiplication.

If you ever follow my other thread, I have a 100x40 and a 50x20. They use a multiplication of 1.5 so the reentry is 40% of the TP. These formulas are based on risk versus reward ratios. In some of my demos now I use 1.2 and 1.3 mutiplication and 20-30 levels. The math can get really wild at times. These are some of my experiments. My most successful EA ever has been the 100x40 but the market has changed, it no longer trades in the 3-400 pip range that EA uses. Some people are still successful with it but are staying out of the USA session. I decided to adjust to the market hence the 100x80.

Why 100 TP versus 80 TP? I wanted an 800 pip range EA thats why, this market is so volatile right now I believe that is what it takes to trade the market with a system like this. Even then the GBP/USD took it too its limit several times in the last week. Patience in trading is a virtue, if you dont have it you will lose money. There are gong to be days this EA will not make much money. Yesterday was an example. I made 5 bucks
  • #154
  • Nov 10, 2008 4:07pm Nov 10, 2008 4:07pm
Quoting nanningbob
What's the benefit of using TP 100 VS TP 80 ?

10 months ago I came up with a math formula for trading and it has seemed to work very well throughout the year. I tried different formulas and this seemed to work best. If you move your TP to 80 then the reentry levels should be 20% or the TP. So 20% of 100 is 80 reentry. The reentry for 80 then would be 64. 64 x 10 levels gives the EA a range of 640. That is the mathematical formula I use for 2.0 multiplication.

If you ever follow my other thread, I have a 100x40 and a 50x20. They use a multiplication of 1.5 so the reentry is 40% of the TP. These formulas are based on risk versus reward ratios. In some of my demos now I use 1.2 and 1.3 mutiplication...
I knew i am missing something. Thank you for the explanation. Will stick to 100X60
  • #155
  • Nov 10, 2008 4:12pm Nov 10, 2008 4:12pm
Indicator list for the - metatrader 4 -, good trading!!!!!
  • #156
  • Nov 10, 2008 4:46pm Nov 10, 2008 4:46pm
To change the range of the EA is to change the levels from 10 to 8 or ???. Now you have lowered your risk and range. 800 to 640.

To increase profitability you lower your reentry levels or increase your lot size but you increase your risk.

To reduce the chances of a death trade you increase your reentry levels but you also exponentially increase the amount of debt when you do have one. The more levels the bigger chance you have of wiping out your account when you do get one. I like using level 8 because it only takes 1-2 days on average to recover from the loss.
  • #157
  • Nov 10, 2008 5:00pm Nov 10, 2008 5:00pm
Quoting nanningbob
To change the range of the EA is to change the levels from 10 to 8 or ???. Now you have lowered your risk and range. 800 to 640.

To increase profitability you lower your reentry levels or increase your lot size but you increase your risk.

To reduce the chances of a death trade you increase your reentry levels but you also exponentially increase the amount of debt when you do have one. The more levels the bigger chance you have of wiping out your account when you do get one. I like using level 8 because it only takes 1-2 days on average to recover from the loss.
What's ur setting for the 600 range currency ?
  • #158
  • Nov 10, 2008 5:17pm Nov 10, 2008 5:17pm
Quoting forexisfx
What's ur setting for the 600 range currency ?
I just went to 8 levels and decreased my risk. 8 x 80 = 640
  • #159
  • Nov 10, 2008 7:14pm Nov 10, 2008 7:14pm
Thank you very much for your interesting EA. im runnig it on 3 different platforms.
By accident i run EA on Alpari UK with original setting. Now Alpari has 5 decimal digits which means i had to change TP from 100 to 1000 and re-entry from 80 to 800. i did not know that and got 10pips TP. As a result I closed my EA at 8am EST with almost $2000.00 profit.
Pairs EURCHF EURJPY EURUSD GBPUSD AUDJPY USDCHF AUDCAD AUDCHF
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  • #160
  • Edited Nov 11, 2008 3:53am Nov 10, 2008 9:02pm | Edited Nov 11, 2008 3:53am
Quoting nanningbob
What's the benefit of using TP 100 VS TP 80 ?

If you ever follow my other thread, I have a 100x40 and a 50x20. They use a multiplication of 1.5 so the reentry is 40% of the TP. These formulas are based on risk versus reward ratios. In some of my demos now I use 1.2 and 1.3 mutiplication and 20-30 levels.
There are gong to be days this EA will not make much money. Yesterday was an example. I made 5 bucks
I am learning the hard way. I ran your set of pairs and when no trades took place for long time, I ran it well into the NY session and I am still nursing some DD. Though on a micro live account, it helps me to learn faster! First thing I have learnt is, constant monitoring really helps to keep tab on things.
I have also observed that EURUSD an CHFJPY are mainly driving this set of pairs in terms of pips and movement and the stability provided by other pairs is somewhat negated. It is still possible to play around with pairs.

I want to know how important is multiplication? Is it ok to keep it 1.0 or will affect performance over a period of time? Anyway I am reading the other thread for all the vital information, but there is so much to digest.

Thanks again for everything..
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