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100 x 80 EA oh boy

  • #261
  • Nov 14, 2008 6:55pm Nov 14, 2008 6:55pm
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.
I finally got to play around with this. What a great addition to the forum. Thanks. I will be playing with this all weekend. To some of you who want to play with only 300 bucks, the answer is on the way.
  • #262
  • Nov 14, 2008 6:59pm Nov 14, 2008 6:59pm
whitegoodman,

first thing you need is to go buy a emergency power back up.
I did a couple of weeks ago.
I had just placed a trade and 60 seconds later bingo a power black out. It did not last long, 2 minutes, but that was long enough for me...

I went that day and bought a $45 APC Ups ES 550 good on my system for about 38 minutes. (useful software come with it as well)

(I can also close out trades on my phone with MT4 mobile)

Oh and one more thing. DISABLE Windows Automatic Update as this will cause your computer to re boot sometimes after it has installed updates.
just set it to notify you of updates but NOT install them automatically.
Its not fun to wake up and be greeted by the login screen instead of the MT4 screen you left running in a position.
  • #263
  • Nov 14, 2008 8:30pm Nov 14, 2008 8:30pm
Quoting tommyd
whitegoodman,

first thing you need is to go buy a emergency power back up.
I did a couple of weeks ago.
I had just placed a trade and 60 seconds later bingo a power black out....

that may prove a cheaper option then getting a company to host it on there server, btw verto how much would that set you back?

yeh i need to get a new mobile that can have mt4 for emergencies i think.... xmas is around the corner


will be interesting to see what you come up with Bob, ive been trying to play around with it but dont really understand it as of yet....
Grabbing the bull by the horns!
  • #264
  • Nov 14, 2008 10:05pm Nov 14, 2008 10:05pm
Nanningbob, I asked some questions earlier that I think you missed. I know you're busy. I'llk condense the question. If I were to go .01 on 8 or 10 pairs, what is the most I could potentially lose if things went bad? Would it be something like $500.00 or ?
If I went live with a $3,000.00 account at .01, I'd like to know the probable biggest hit I could take. That way, I can plan on that, and even set the EA to close out at a loss of a little more than that. This way, I know what I'd be risking for the probable gain on a weekly basis that going .01 would give me. Thanks.
  • #265
  • Nov 14, 2008 10:53pm Nov 14, 2008 10:53pm
Quoting whitegoodman
hmmm thats a little dissapointing cos id want to turn it on when i wake up in the morning, then monitor it at work with my laptop, problem is to and from work it wont be on..... unless i can leave my home computer on all day (no problem) and monitor it at work with my laptop???


how do you get 3 ibfx platforms?
Ok getting extra platforms is easy!

just go and download like you did the first time once you get to the area where it asks what name you want it under (normally says IBFX MetaTrader 4) you can simply type a new name or add the #2 or somthing so you know which is which

then you will click next till you get the 2nd platform up
go yo start menu on computer and you should see 2 platforms

If you go to click on your Icon on your Desktop it may pull up the new MT4 instead of the old one...if so simply go to your start menu find your original MT4 find the icon and create a shortcut (rename one of your MT4 shortuts so you know the difference).

hope this helps
M4X............ Hedging My Way To Profits!
  • #266
  • Nov 14, 2008 11:15pm Nov 14, 2008 11:15pm
Quoting paradoxical
Nanningbob, I asked some questions earlier that I think you missed. I know you're busy. I'llk condense the question. If I were to go .01 on 8 or 10 pairs, what is the most I could potentially lose if things went bad? Would it be something like $500.00 or ?
If I went live with a $3,000.00 account at .01, I'd like to know the probable biggest hit I could take. That way, I can plan on that, and even set the EA to close out at a loss of a little more than that. This way, I know what I'd be risking for the probable gain on a weekly basis that going .01...
I am sorry if I missed your post. I try to answer everyones questions if I can. So please accept my apologies.

It will differ from currency to currency but it will be in the 800 dollar range if you use 9 levels. 400 dollars if you use 8 levels. You then subtract profits already made for the difference. You really want to use currencies that wont take it that deep.

The probabilities: in 7 years of information there are only 14 currencies that have ever gone over 700 pips in one day. If you check my 7 year currency fact sheet you will see which currencies have gone over 700. Of the 20 currencies only 63 times have they gone over 700 points in one day. The gbp/jpy and the eur/aud account for 35 of them or over half. Add to that the Aud/jpy 7, eur/jpy 5, gbp/chf 5, aud/chf 2, plus 35 from gbp/jpy and eur/aud equals 57 of the 63 times. So of 20 pairs listed you eliminate 6 of them and you have 6 times in 7 years for the remaining 14 pairs.

So you check the remaining pairs to see which ones will work for you. I do not recommend the USD/CAD because the USD will squash it at times and it wont retrace for days. The rest of the pairs you dont have to worry about them breaking 800 points without a retracement because it takes over 1 day to do. If you restart at a good spot every day you never face the death trade from them.

The other thing is, the only pair that ever ran more than 800 points without a major retracement was the EUR/AUD that I have seen. The NZD/USD has done 2 spikes of over 1500 pips in 1M periods. The gbp/jpy will move over 700 rather frequently (about every 2 months average) but there is always a major retracement during the run to get you out of trouble. I have never seen it run without a retracement or two during the run. So the odds are really, really rare.

The only time I ever ran the gbp/usd on this EA live was the day it ran 900+ points and I took a loss on it. Shows you my luck.

I have attached the raw data for each currency so you can go back to all the big move days and research them for yourself how price moved on those days. You can use the 1 H chart to get a good idea how price moved.
Attached File(s)
File Type: zip 7 year facts 11-08.zip   1.0 MB | 426 downloads
  • #267
  • Nov 14, 2008 11:16pm Nov 14, 2008 11:16pm
Quoting tommyd
whitegoodman,

I went that day and bought a $45 APC Ups ES 550 good on my system for about 38 minutes. (useful software come with it as well)

.
Last I week I bought APC UPS 1000VA with extra battery pack paying $250!
We are really serious about this EA aren't we?
"Put all your efforts in becoming effortless"
  • #268
  • Nov 14, 2008 11:18pm Nov 14, 2008 11:18pm
Quoting nanningbob
I finally got to play around with this. What a great addition to the forum. Thanks. I will be playing with this all weekend. To some of you who want to play with only 300 bucks, the answer is on the way.
I am waiting..
"Put all your efforts in becoming effortless"
  • #269
  • Nov 14, 2008 11:19pm Nov 14, 2008 11:19pm
Quoting M4X
Ok getting extra platforms is easy!

just go and download like you did the first time once you get to the area where it asks what name you want it under (normally says IBFX MetaTrader 4) you...
Good advice. I rename them the same so I put demo 1, demo 2, etc. then I rename the short cut demo 1, demo 2, etc. My live accounts I use my account # so I know which one I am trading and adding EAs and indicators to.
  • #270
  • Nov 14, 2008 11:21pm Nov 14, 2008 11:21pm
Quoting whitegoodman
that may prove a cheaper option then getting a company to host it on there server, btw verto how much would that set you back?

yeh i need to get a new mobile that can have mt4 for emergencies i think.... xmas is around the corner


will be interesting to see what you come up with Bob, ive been trying to play around with it but dont really understand it as of yet....
I think the average price is probarly in the 20$-40$ a month range. I haven't done much research on the subject because, so far, I have had very reliable service with my power and network.
  • #271
  • Nov 14, 2008 11:24pm Nov 14, 2008 11:24pm
Quoting IamTHAT
I am waiting..
Its gonna be a while I am testing for one more week before I publish to make sure. I am still playing with some of the math and testing it live.
  • #272
  • Edited 5:45am Nov 15, 2008 4:46am | Edited 5:45am
Bob,
In your reply to paradoxical you mentioned "Starting in a good spot" talking about turning on the EA.

What in general are you looking for to open the EA?
I know you want to open around the Asian open but what "Other" considerations are you looking for as well?
  • #273
  • Nov 15, 2008 7:58am Nov 15, 2008 7:58am
Quoting tommyd
Bob,
In your reply to paradoxical you mentioned "Starting in a good spot" talking about turning on the EA.

What in general are you looking for to open the EA?
I know you want to open around the Asian open but what "Other" considerations are you looking for as well?
I also look to see if price is somewhere near the pivot line for the day. If it is way out I will wait on it. I should say I prefer to be between S1 and R1. With a 100x80 EA that is not so critical as my other EAs but it is still good advice. I also look for Trichet or Bernanke speaking . They seem to move the Forex market more than any other factor. I have traded days and seen no major news stories and one of these guys will make an off the cuff remark and the market just go nuts all of a sudden. As one broker once said, "I wish those two would just SHUT UP!"
  • #274
  • Nov 15, 2008 9:35am Nov 15, 2008 9:35am
bob thanks for that, i don't know why i didn't just do that anyway. makes too much since. anyway, that helps a lot. gonna open up several accounts and change things around a bit to see what works the best. will start sunday and let everyone know my personal results friday. if more people would be willing to do this, i think we could see the ups and downs of this ea more clearly

thanks again for all your hard work and for answering the questions!!
  • #275
  • Nov 15, 2008 11:20am Nov 15, 2008 11:20am
Bob,
Thanks for that detailed reply. That's what I needed to know. I'll use 8 pairs and pick the safest ones from your list. I realize that the more pairs I add, the more of a potential loss I could suffer. $800.00 for 9 versus $400.00 for 8, and I imagine if I used 10 pairs, it might be an exposure of about $1,600.00 or more, and all this trading at just .01
Now, all I need do is test 8 pairs and see what the return per week in dollars is. That will give me the risk to reward I'm looking for. For instance, if going .01 using 8 pairs returns an average of $150.00 a week, to me that's a fantastic return versus the risk of a rare loss of $400.00.
Plus, I saw a post where your EA even has a setting for a global stop that I can employ to stop out after a loss of more than $400.00
Looking forward to testing this great system and ea some more.
Quoting nanningbob
I am sorry if I missed your post. I try to answer everyones questions if I can. So please accept my apologies.

It will differ from currency to currency but it will be in the 800 dollar range if you use 9 levels. 400 dollars if you use 8 levels. You then subtract profits already made for the difference. You really want to use currencies that wont take it that deep.

The probabilities: in 7 years of information there are only 14 currencies that have ever gone over 700 pips in one day. If you check my 7 year currency fact sheet you will see which...
  • #276
  • Nov 15, 2008 7:06pm Nov 15, 2008 7:06pm
Quoting paradoxical
Bob,
Thanks for that detailed reply. That's what I needed to know. I'll use 8 pairs and pick the safest ones from your list. I realize that the more pairs I add, the more of a potential loss I could suffer. $800.00 for 9 versus $400.00 for 8, and I imagine if I used 10 pairs, it might be an exposure of about $1,600.00 or more, and all this trading at just .01
Now, all I need do is test 8 pairs and see what the return per week in dollars is. That will give me the risk to reward I'm looking for. For instance, if going .01 using 8 pairs returns an...

Actually my personal feeling is the more currencies I trade the better it is because the others will bank profits while one is going bad. 8 pairs is a good start though. Again it is just playing the odds, what are the chances of going over 800 pips in one day. I think if you pick the right pairs the odds are very very small.
  • #277
  • Nov 17, 2008 3:05am Nov 17, 2008 3:05am
lacking retrace atm, fair bit of drawdown on all 3 demo strategies... still 4 hours till i close shop for the night...we shall see
Grabbing the bull by the horns!
  • #278
  • Nov 17, 2008 8:37am Nov 17, 2008 8:37am
Quoting whitegoodman
lacking retrace atm, fair bit of drawdown on all 3 demo strategies... still 4 hours till i close shop for the night...we shall see
yep same here just opened one at start of us to see how it does. the ones open since yesterday are all in negative but still have plenty time to turn around. I will post results of my 4 different tests on Friday
  • #279
  • Nov 17, 2008 8:56am Nov 17, 2008 8:56am
I am running dime lots just to see what happens and it is very interesting. As the market moves in one direction the profits are just a couple of hundred dollars from the deficit. I am running just over 700 dollars in the hole but my take proft is at 500. So my running deficit is at 200 +, If the market ever reverses I will make a killing, if it doesnt my losses wont be so bad for playing .10 lots. I am running the 20 pairs. I will keep you informed but it is looking more and more that the best way to run this is to run many pairs not just a few. I am doing much better this way.
  • #280
  • Nov 17, 2008 9:40am Nov 17, 2008 9:40am
Bob, my concern was the spread on some of those other pairs at 12 pips. That's not much of a factor that you can see?
Quoting nanningbob
I am running dime lots just to see what happens and it is very interesting. As the market moves in one direction the profits are just a couple of hundred dollars from the deficit. I am running just over 700 dollars in the hole but my take proft is at 500. So my running deficit is at 200 +, If the market ever reverses I will make a killing, if it doesnt my losses wont be so bad for playing .10 lots. I am running the 20 pairs. I will keep you informed but it is looking more and more that the best way to run this is to run many pairs not just a few....
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