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100 x 80 EA oh boy

  • #181
  • Nov 12, 2008 6:57am Nov 12, 2008 6:57am
Quoting IamTHAT
Which pairs are you using? What is the maximum loss you came across any time during this run?
I run all the pairs mentioned in first post; during the run the max floating loss was -$110 but then it turned around
  • #182
  • Nov 12, 2008 7:00am Nov 12, 2008 7:00am
Quoting whitegoodman
how do you set a lot or profit max so it resets?
i used the original setting ie multiply is 2.0 and maxtrade=10; so the EA basically increased the lot size up to MaxTrade and then go back to the original 0.01
  • #183
  • Edited 9:00am Nov 12, 2008 8:50am | Edited 9:00am
nanningbob, I have an idea that might be a "good to have" for the EA.

I believe there are some people who babysit the EA and sometimes close the position manually. Most of the time we do that is becoz the level is getting too high and wanted to get out as soon as possible without any loss or small profit. There is time where too many position are open and it takes time to find out which level each currency pair is in. It will be good to have for each order under comments, the level of the position.

Example, the comments for order can be like this:

"AUDNZD Sell level 1"
"AUDNZD Sell level 2"
"AUDNZD Buy level 1"
  • #184
  • Edited 1:30pm Nov 12, 2008 12:48pm | Edited 1:30pm
I made this little spread sheet to help folks (mostly me) very quickly and easily do the math and see what the changes are when you adjust the multiplier, take profit, pip spread, and max trades. I hope this helps.

PS. 'Coverage' shows you what the settings will handle, for example in the picture below, it will handle a 320 pip spread with no problems (this is the old standard 100x40 settings). The 'Total' is the gross 'profit', the sum of each lot. This is not necessarily in USD, it all depends on the currency. Regardless, I think that it's good to keep it around 25-30.

EDIT- OK, updated with Max Draw Down, showing what it would look like if the EA was maxed out and you were at the point where the EA would enter a new trade, only it's already past your Max Trades.
Attached Image
  • #185
  • Nov 12, 2008 2:46pm Nov 12, 2008 2:46pm
NanningBob, take a look at this. Something interesting happens with the below settings, your reward is greater than the risk (4:3)
Max Draw Down is in absolute value to make things easier.
Attached Image
Attached File(s)
File Type: xls finder2.xls   14 KB | 370 downloads
  • #186
  • Nov 12, 2008 5:45pm Nov 12, 2008 5:45pm
Quoting FrostCall
NanningBob, take a look at this. Something interesting happens with the below settings, your reward is greater than the risk (4:3)
Max Draw Down is in absolute value to make things easier.
Nice work and it looks very interesting.
  • #187
  • Nov 12, 2008 6:16pm Nov 12, 2008 6:16pm
Quoting IamTHAT
Thank you for your patient replies all along.
After running this EA whole day with various pairs and setting on many platform, now I am beginning to understand how it works.

I would like to go live with a $300 IBFX mini account, but scared after seeing the no of lots open at times, I am really scared.

Now I am experimenting 12 x 8 EA on all JPY pairs expecting total mayhem. Surprisingly it is chugging along beautifully churning out profits like mad. I don't know how long it will last! It reaches all 10 levels and nice to see 25.60 lots open at a time for 12pips!
I dont know if 300 is enough. I started at 500 and took a hit the first day. Since then I am doing fine and closing in on 700 dollars. You can do 300 dollars as long as you dont take a hit right off the bat. My goal was always to develop an EA so guys with 3-500 bucks could do this. If you go with the non risky pairs you should be fine but they are really slow this week. Bad news for the profit line but good news in that the markets maybe heading back to more normal runs. So the less risky pairs and 300 should do it for you at 400:1

I went ahead on one of my demos to go 20 pairs to see how it would do. NO eur/aud though Let you know how it goes. For my 8 slowest pairs, I think a turtle could go faster but sometime security of capital is more important than trading. I am going to open things up a little more next week if things look like they are finally settling down.
  • #188
  • Nov 12, 2008 6:17pm Nov 12, 2008 6:17pm
Quoting FrostCall
NanningBob, take a look at this. Something interesting happens with the below settings, your reward is greater than the risk (4:3)
Max Draw Down is in absolute value to make things easier.
Now that is cool. I have been doing things by hand and that takes a while.
  • #189
  • Nov 12, 2008 6:24pm Nov 12, 2008 6:24pm
Hi folks. Just wanted to post my results for a few days. EA made over 1% just using .01 lots on a mini account. Thanks Bob for your interesting approach to trading this market. How's your live account doing?
Attached Image (click to enlarge)
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  • #190
  • Nov 12, 2008 6:44pm Nov 12, 2008 6:44pm
Quoting FrostCall
NanningBob, take a look at this. Something interesting happens with the below settings, your reward is greater than the risk (4:3)
Max Draw Down is in absolute value to make things easier.
But when you change the 80 to 20 you also change the range of the EA from 800 pips to 200 pips. Now you can get killed in a matter of hours. You change the TP to 25 to stay within the math formula and this is the odds you are playing. You are playing that price will retrace 25 pips plus max 19 from last reentry plus spread every 200 pips. That is what I call a high risk scenario. The chances of a currency beating that in one day is pretty high. The chances of a currency beating 800 pips in one day is very very low.

Now could you trade such a scenario. Yes but never in the USA session. You would go from 1 H after USA session close to 2-4 hours into the EUR session and you probably would do well with the lower currencies. Why????? You guessed it I am demoing right now that type of trading system. Hey Frosty you are starting to think like me. That could be dangerous you know.
  • #191
  • Nov 12, 2008 7:09pm Nov 12, 2008 7:09pm
Quoting Pip Chaser
Hi folks. Just wanted to post my results for a few days. EA made over 1% just using .01 lots on a mini account. Thanks Bob for your interesting approach to trading this market. How's your live account doing?
My live account is snailing along this week using the 100x80. I am live with IBFX and doing well there though using a different EA. Between the 2 accounts and 2 different EAs I am making 60-120 a day. I moved up to 39 th place after being in the 600's after my first day. I took a hit with the GBP/USD the first day. Some crazy guy has 10 times his account but I also know they can disappear in the contest just as fast. I hope to crack the top ten this time but I cant take another hit and do that.

My philosophy is to always trade small, use multiple currencies, EAs and use several accounts. This way if one or two trades go bad the overall picture is to never take the big hit. I am amazed that in the financial world they teach to diversify your portfolio for best overall results but here in the forex world it is bet it all on one currency and trading system. The greats are guys who trade 10-50 lots and try to get 10-20 pip profit. Egads ........... what a potential disaster.

The first guy who trained me taught me to trade the news. If I had kept trading like that I would be dead right now. My heart couldnt take watching 5 lots going 100 in the hole in 30 seconds. How do guys trade like that and live to be 55 anyway? Then I did the indicator thing, and the support and resistance thing, and the that and this thing. My conclusion was this: price does only 2 things it goes up and then it goes down and then it goes up again. Whatever that range is have an EA that covers a bigger range and then I dont care what price does, an indicator does, etc, etc, etc,.

I realize I may not be right and all this is foolishness (I hope not) but dang I think trading a currencies price range is the best way to go.
  • #192
  • Nov 12, 2008 7:44pm Nov 12, 2008 7:44pm
Quoting nanningbob
Also the currencies I chose should be able to run all day.
Have you been running throughout the week or do you open at early Asian session and close out beginning of US session?
  • #193
  • Edited Nov 13, 2008 12:17am Nov 12, 2008 9:26pm | Edited Nov 13, 2008 12:17am
Quoting fugly
Have you been running throughout the week or do you open at early Asian session and close out beginning of US session?
I usually close before the USA session but not always. Monday and Tuesday are usually slow days so you can run them. I mean the EA has an 800 pip range so it should handle almost anything. The real reason I close at USA session is I only am using 500 dollars so I dont have that much margin to play with. If I used 2000 I could use more volatile pairs and wait trades out for several days. So funds is what keep me very conservative. Also I have only been using this EA for around 3 weeks so it is basically untested. After I understand it more and see it move more then I can make decisions on how I want to use it. Preservation of capital is very important in these systems.
  • #194
  • Nov 12, 2008 9:52pm Nov 12, 2008 9:52pm
I failed to mention, I'm trying to work out about 4-5 different settings for different currencies. Each setting would attempt to cover 80% of days on each specified pair. So, a 200 spread setting would only work on a very few pairs. I wrote the spread sheet because I was getting too lazy to do things by hand all the time. Same reason I'm looking for various settings along with the other things I mention elsewhere; I'm actually quite lazy. And yes, I'm starting to think a lot like you, but that's OK, we both have the same goal $$

Quoting nanningbob
Now could you trade such a scenario. Yes but never in the USA session. You would go from 1 H after USA session close to 2-4 hours into the EUR session and you probably would do well with the lower currencies. Why????? You guessed it I am demoing right now that type of trading system. Hey Frosty you are starting to think like me. That could be dangerous you know.
  • #195
  • Nov 13, 2008 12:22am Nov 13, 2008 12:22am
Quoting FrostCall
I failed to mention, I'm trying to work out about 4-5 different settings for different currencies. Each setting would attempt to cover 80% of days on each specified pair. So, a 200 spread setting would only work on a very few pairs. I wrote the spread sheet because I was getting too lazy to do things by hand all the time. Same reason I'm looking for various settings along with the other things I mention elsewhere; I'm actually quite lazy. And yes, I'm starting to think a lot like you, but that's OK, we both have the same goal $$
When you get a chance send me an email. I think you might understand some concepts I have but I need someone to try them. I dont want happened to this thread that happened to the other one. We ended up talking about 5 different EAs and confusing the heck out of everyone.
  • #196
  • Nov 13, 2008 12:42am Nov 13, 2008 12:42am
i have notice that once in a while the EA opens 2 position of the same pair with the lot size.
I have notice this a few times now.

does this happen to any of u?
Attached Image (click to enlarge)
Click to Enlarge Name: dupPosition.JPG Size: 35 KB
  • #197
  • Edited 1:10am Nov 13, 2008 12:46am | Edited 1:10am
Quoting FrostCall
I failed to mention, I'm trying to work out about 4-5 different settings for different currencies. Each setting would attempt to cover 80% of days on each specified pair. So, a 200 spread setting would only work on a very few pairs. I wrote the spread sheet because I was getting too lazy to do things by hand all the time. Same reason I'm looking for various settings along with the other things I mention elsewhere; I'm actually quite lazy. And yes, I'm starting to think a lot like you, but that's OK, we both have the same goal $$
You xls sheet is very useful, Thanks.

You study mentioned above will be very nice. Please tell us if you come across any interesting combination of Currency + EA setting +Trade Time. There are so may variables involved, it becomes difficult to keep tab.

As nanningbob has revealed, there is nothing much can be done with $300 -$500 account, I will have to curb my gambling instinct and be happy playing demos.
"Put all your efforts in becoming effortless"
  • #198
  • Nov 13, 2008 12:50am Nov 13, 2008 12:50am
NanningBob is right, use the tool, it's very helpful, but lets keep this thread on the 100x80 topic so as not to make things confusing
  • #199
  • Nov 13, 2008 3:21am Nov 13, 2008 3:21am
Quoting FrostCall
NanningBob is right, use the tool, it's very helpful, but lets keep this thread on the 100x80 topic so as not to make things confusing
Hi FrostCall - I appreciate your sentiment.... but just need to highlight the fact that the spreadsheet uses 'roundup' to calculate the incremental lot sizes, where in fact it should be simply 'round'.
I really appreciate your creating this sheet, as in fact I had just asked Bob on the other thread for just such a thing..... many thanks, Jim
He has the right to criticize who has the heart to help. Abraham Lincoln
  • #200
  • Edited 4:16am Nov 13, 2008 3:23am | Edited 4:16am
do sells have stop losses in the trade section in the terminal they all say 0.0000? (see attachment)


also do we need two charts for every currency pairing they seem to show the same thing?
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Grabbing the bull by the horns!
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