100 x 80 EA oh boy | Page 17 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Need explanation on Good boy EA 0 replies

Lazy Boy Day Chart Strategy 35 replies

blue boy system 35 replies

new boy 10 replies

Attachments: 100 x 80 EA oh boy
Exit Attachments

100 x 80 EA oh boy

  • #321
  • Nov 19, 2008 10:48am Nov 19, 2008 10:48am
Urban,

I had the same problem with the sell EA. I think there may be a problem with the sell EA that trades .01. Try loading the sell EA that trades .02 and see if that works. you can manually change the .02 to any amount. That's what I've done. I'm demoing on a $3,000.00 account, and .01 and .02 turned out to be too small of an amount for my risk tolerance, so I've manually changed the buy and sell EAs to .03, and it's working fine.
Quoting urbanFX
Hi Guys,

Firstly, thanks for a really great EA!!

Secondly, I'm having a small problem that I'm hoping somebody can help me with. Everything seems to have loaded and is working fine except for one thing. The EA is only opening BUY trades, there doesn't seem to be any corresponding SELL entries. Anybody having the same prob?

Thanks
  • #322
  • Nov 19, 2008 11:05am Nov 19, 2008 11:05am
Just reporting for those interested. Am trading .05 on only 6 pairs
EUR/USD, EUR/CHF, CHF/JPY, USD/JPY, AUD/NZD, AUD/USD.
The graph shows starting from the open on Sunday evening to about 9:00 AM Pacific Standard Time starting at $4,000.00 and now at a gross of almost $5,900.00 The open loss is $375.00, so the net is $5,625.00 if I sold all right now. For whatever reason, the graph does not show the true drawdown picture. There was an open loss earlier of $800.00, and this isn't reflected in the graph. That's 15% of the account value. It's now turned around.
Am letting run continuously for the entire week. My main thinking is to see what these 6 pairs will give consistently at .05, and how much drawdown in dollars there would be. Right now, I don't know, and really want to know what a worst case scenario would be. Could the open losses go as high as $1,500.00? $2,000.00, $3,000.00. With this information, I can set a global stop at a certain percentage. As it is, the increase is 40%. Fantastic so far!
Attached Image (click to enlarge)
Click to Enlarge Name: 1117 to 1121 on 05.gif Size: 5 KB
  • #323
  • Nov 19, 2008 11:25am Nov 19, 2008 11:25am
Thanks, I forgot to add the sell EA!
"The market giveth and the market taketh away"
  • #324
  • Nov 19, 2008 12:00pm Nov 19, 2008 12:00pm
Quoting paradoxical
Just reporting for those interested. Am trading .05 on only 6 pairs
EUR/USD, EUR/CHF, CHF/JPY, USD/JPY, AUD/NZD, AUD/USD.
The graph shows starting from the open on Sunday evening to about 9:00 AM Pacific Standard Time starting at $4,000.00 and now at a gross of almost $5,900.00 The open loss is $375.00, so the net is $5,625.00 if I sold all right now. For whatever reason, the graph does not show the true drawdown picture. There was an open loss earlier of $800.00, and this isn't reflected in the graph. That's 15% of the account value. It's now turned...
are you using the 100 x 80 or 100 x 60? max trades?
  • #325
  • Nov 19, 2008 12:11pm Nov 19, 2008 12:11pm
Using what I think is the original one 100x80. The only settings I change is the lots to be traded. Running two demos with the referenced one trading at .05 for 6 pairs. I have another trading more pairs at .03. I've noticed that has much less drawdown, and also less percentage return.
Quoting tommyd
are you using the 100 x 80 or 100 x 60? max trades?
  • #326
  • Nov 19, 2008 1:44pm Nov 19, 2008 1:44pm
Hi Bob,

In trying to understand your thinking and the way you use the EA....I know you mentioned several times that you often take profit when you see it. Today I opened the 100x80 EA (.02 lots) at the US open. It's been a crazy day so far. I've banked (demo account) $592 of profit so far (on a $3,240.90 starting balance), but I have a floating loss of $408. What do recommend in this instance?

Should I let the floating losses ride and wait for a retracement or close all orders?

If I close all orders, would you start the EA again in the US session or wait for the Asia open?

Thanks for your help,
Anthony
  • #327
  • Nov 19, 2008 1:56pm Nov 19, 2008 1:56pm
The 100x80 is designed to cover 800 pips, which is easily managed with that size of an account. Take a look at the below picture. You can see that as long as the currency retraces 100 pips in your favor within that 800 pip coverage, you make money. This should happen 99% of the time within 800 pips. Of course, you still need to decide if you want to close it all and hop out. With such a large account, you should be able to make the retrace by playing the odds but that's up to you. The 100x80 uses outstanding settings with great coverage if you have a decent sized account.
Attached Image
  • #328
  • Nov 19, 2008 2:03pm Nov 19, 2008 2:03pm
Quoting acosta2269
Hi Bob,

In trying to understand your thinking and the way you use the EA....I know you mentioned several times that you often take profit when you see it. Today I opened the 100x80 EA (.02 lots) at the US open. It's been a crazy day so far. I've banked (demo account) $592 of profit so far (on a $3,240.90 starting balance), but I have a floating loss of $408. What do recommend in this instance?

Should I let the floating losses ride and wait for a retracement or close all orders?

If I close all orders, would you start the EA again in the US...
well like he said it could retrace and make that up but if it doesn't then you are still up a little over 5% in one day

to me that is pretty dang good. I would fold up tent and wait for tomorrow.

I too opened 4 demos at open of US and are all doing fine will close and post results before i go to bed
  • #329
  • Nov 19, 2008 2:11pm Nov 19, 2008 2:11pm
Any profit is better than any loss.
Any small loss is better than any large loss.

However, it is a demo account which means it's perfect for testing an EA, and perfect for seeing what the 100x80 can (and can't) do. The question of letting it ride vs closing it out for the day is up to you. You are covered for 800 pips and I don't know of any pairs that have come close to that yet today. If you go to 1000, that's when you need to shut things down in my opinion.
  • #330
  • Edited 3:49pm Nov 19, 2008 3:21pm | Edited 3:49pm
Well I let it ride to see what would happen (if this were a real account I definitely would have taken the money!). As of 4:10pm est. My banked profit is now $733, but my floating loss is $718. So at this point, it's basically break even.

I asked the question to help understand how the EA works and would the "correct" thinking should be. If the pairs don't retrace by the end of the US session, would it best to close out and take a small profit/loss or best wait for Asia session for a possible retrace?

If we close the trades now in the US session and reopen the trades in the Asia session and the price retraces would we pick up the profits on the retrace movement or are they lost?

At what point do we start worrying that we are on the wrong side and that it might not retrace? How exactly do we determine that?

The GBP/USD has opened a lot size of 0.16, so it's at the 4th level (correct?) and has a cummulative loss of $300. The other $400 is spread out between the other pairs.

Again, just trying to detemine the "correct" line of thinking when using this EA. I think it would be helpful for all of us.

What would Bob do? (lol)


Quoting FrostCall
Any profit is better than any loss.
Any small loss is better than any large loss.

However, it is a demo account which means it's perfect for testing an EA, and perfect for seeing what the 100x80 can (and can't) do. The question of letting it ride vs closing it out for the day is up to you. You are covered for 800 pips and I don't know of any pairs that have come close to that yet today. If you go to 1000, that's when you need to shut things down in my opinion.
  • #331
  • Nov 19, 2008 3:58pm Nov 19, 2008 3:58pm
Quoting acosta2269
Well I let it ride to see what would happen (if this were a real account I definitely would have taken the money!). As of 4:10pm est. My banked profit is now $733, but my floating loss is $718. So at this point, it's basically break even.

I asked the question to help understand how the EA works and would the "correct" thinking should be. If the pairs don't retrace by the end of the US session, would it best to close out and take a small profit/loss or best wait for Asia session for a possible retrace?

If we close the trades now in the US...
The JPY session is where you will get enough retrace to make a profit. I posted this just a couple of days ago. I was at break even and then the retrace happened and profited just under 400 dollars.
  • #332
  • Nov 19, 2008 4:04pm Nov 19, 2008 4:04pm
Quoting acosta2269
Hi Bob,

In trying to understand your thinking and the way you use the EA....I know you mentioned several times that you often take profit when you see it. Today I opened the 100x80 EA (.02 lots) at the US open. It's been a crazy day so far. I've banked (demo account) $592 of profit so far (on a $3,240.90 starting balance), but I have a floating loss of $408. What do recommend in this instance?

Should I let the floating losses ride and wait for a retracement or close all orders?

If I close all orders, would you start the EA again in the US...
You will always have a floating loss because you pocket the profits. Once you get used to this, it is just a matter of what profits you want to pocket. Here is a demo of my week so far, I am up over 800 dollars, you can see where I closed and took my profits. The important part is not the highs of the chart but the lows of the chart because they are your real profits. It just keeps moving up.

It takes time to understand and get a feel of this. There is a patience of waiting for the retrace. I know in the past I have talked about closing at certain times but the market does not move or retrace based the time of day. It may move at any hour and retrace at any hour. If we knew what times these things always happened we would all be millionaires.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 5 KB
  • #333
  • Nov 19, 2008 4:06pm Nov 19, 2008 4:06pm
so...If we've banked some profit and have a floating loss that brings us to about break-even for the day, it's best to wait for the JPY session for a retrace, correct?

What if we didn't have banked profit, but only floating loss? Is it still best to wait for the JPY session?

What if this scenario happened during the JPY or London session (banked profit with a floating loss), would it be best to wait for the US session for retrace?

Sorry for all the questions...I'm just trying to develop the correct way of thinking.

Thanks for all your help.
Anthony


Quoting nanningbob
The JPY session is where you will get enough retrace to make a profit. I posted this just a couple of days ago. I was at break even and then the retrace happened and profited just under 400 dollars.
  • #334
  • Nov 19, 2008 4:14pm Nov 19, 2008 4:14pm
Quoting nanningbob
It takes time to understand and get a feel of this. There is a patience of waiting for the retrace. I know in the past I have talked about closing at certain times but the market does not move or retrace based the time of day. It may move at any hour and retrace at any hour. If we knew what times these things always happened we would all be millionaires.
I'm certainly ok with waiting for the retrace, or even taking a loss if I have to. The results so far have been outstanding. I'm up over 25% in a week and a half of testing. Most importantly, I've learned more from this thread than any other I've read.

I guess what I'm trying to learn more about is how you determine if we should wait for the retrace or determine it's a bad trade and we should cut our losses and get out. I know you mentioned looking at the 4h chart and the support and resistance levels for that determination. If you could elaborate a bit, that would be great.

What exactly do you do?
What indicators do you put on the chart?
What do you look for?
At what point do you start thinking it might be a bad trade?

Btw, isn't it 5am for you?

Thanks again.
  • #335
  • Edited 4:31pm Nov 19, 2008 4:19pm | Edited 4:31pm
Quoting acosta2269
so...If we've banked some profit and have a floating loss that brings us to about break-even for the day, it's best to wait for the JPY session for a retrace, correct?

What if we didn't have banked profit, but only floating loss?...
From my studies of Forex I have come to some conclusions. One of them is the market never moves in a straight line. So there will always be a retrace. Second is the retrace can be small or big, I may not know what it is so when I see a profit I take it but often that decision is based on support and resistance levels. If a retrace hits one I have to decide if there is more or that is it. Third profit is profit, I never beat myself up for taking it and then realizing there might have been more.

Here is an important gbp/chf trade that happened Monday. You can see a big runup to the red letter a. Price than did a retrace but not quite enough to hit the 100 points. However, it was hitting a support line and over a 14 hour period it hit that support about 6 times. Well, when it hit the 5th time I went ahead and took it. My overall profit at that time ended up over 300 dollars that day. I did not want to keep that trade going into the Euro session because I could have faced a death trade if price had continued up. So that is why I took my profit when I did.

I was deepest into the GBP/CHF so that was the currency I based my decision on for all the trades. Once I saw that nice profit and the hitting of support the decision was made to close it all and restart the full range of the EA.

The support and resistance lines on the screen are Wed. The indicator I use redraws the lines every day so they dont count for Monday. The lines were different at that time.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp chf.gif Size: 14 KB
  • #336
  • Nov 19, 2008 4:23pm Nov 19, 2008 4:23pm
Its 620 am here, I usually get up around 6. We dont have savings time here so we are 11 hours off from EST instead of 12. You will notice by my last post I liked my profit retrace from the USA session so I took it this morning. I will let the market settle a little bit more and then restart my EA again later this morning. I am really seriously thinking of running this ea on 20 pairs live next week with about 500 dollars and see what happens.
  • #337
  • Nov 19, 2008 4:32pm Nov 19, 2008 4:32pm
Quoting nanningbob
Its 620 am here, I usually get up around 6. We dont have savings time here so we are 11 hours off from EST instead of 12. You will notice by my last post I liked my profit retrace from the USA session so I took it this morning. I will let the market settle a little bit more and then restart my EA again later this morning. I am really seriously thinking of running this ea on 20 pairs live next week with about 500 dollars and see what happens.
It was a rather good day for Aud/Nzd. At least for me anyway, I look forward to see what your new position in the contest in three hours.
  • #338
  • Nov 19, 2008 4:43pm Nov 19, 2008 4:43pm
Quoting Verto
It was a rather good day for Aud/Nzd. At least for me anyway, I look forward to see what your new position in the contest in three hours.
I moved up to 21 place. I am not going to place with 4 trading days left but in side the top 20 or 15 looks doable. I am consistently hitting 10% a day with this EA I am using. Thanks to Frost Calls excel program I have been able to refine this thing where it is much more efficient than some of my past numbers. Next month I will start with 300 instead of 600 and then I would be in the 300% increase range instead of 100% range. I will start a new thread and post the EA this weekend. The EA on the Aud/Nzd and the 100/80 in this thread look to be consitent money makers so I will run both of them live in December. I am going to cut me a check next week on my contest account and it should be around 700 and the one I cut this week for 500 is sure going to help the old budget.

I have a friend who is also testing this EA live and is averaging about 4-500 a week. I just hope IBFX doesnt increase the spread on it again. It used to be 11 but now its 14

I have to get ready for work, will check in again later.
  • #339
  • Edited 4:57pm Nov 19, 2008 4:45pm | Edited 4:57pm
Quoting nanningbob
I moved up to 21 place. I am not going to place with 4 trading days left but in side the top 20 or 15 looks doable. I am consistently hitting 10% a day with this EA I am using. Thanks to Frost Calls excel program I have been able to refine this thing where it is much more efficient than some of my past numbers. Next month I will start with 300 instead of 600 and then I would be in the 300% increase range instead of 100% range. I will start a new thread and post the EA this weekend. The EA on the Aud/Nzd and the 100/80 in this thread look to be consitent...
Sounds good. I look forward to seeing if the changes you made are anything like the one I have made. Until then, good luck trading!

My check is going to be pretty nice as well thanks to your EAs. Thanks.

Hehe, yeah... that is really the easiest thing for them to do if a lot of people start taking alot from A/N. The inner me is thinking dont open a thread and it become really popular, but then I think well thats in no way fair because how did I get the ea. Not to mention the majority of the people come and go. Then ago if a ton of people start trading aud/nzd that should lower the spread.
  • #340
  • Nov 19, 2008 5:06pm Nov 19, 2008 5:06pm
Quoting Verto
Sounds good. I look forward to seeing if the changes you made are anything like the one I have made. Until then, good luck trading!

My check is going to be pretty nice as well thanks to your EAs. Thanks.

Hehe, yeah... that is really the easiest thing for them to do if a lot of people start taking alot from A/N. The inner me is thinking dont open a thread and it become really popular, but then I think well thats in no way fair because how did I get the ea. Not to mention the majority of the people come and go. Then ago if a ton of people start...
Even if a 10,000 people used my EA it would not even make a blip on the screen. No fund manager is going to use my EA. This is designed to make some money and pull the money out every week or two. Guys with huge accounts wont like the percentage of DD. Imagine playing with 1,000,000 dollars and facing a 10-25% DD. They aint gonna do it. With 500 -1000 bucks its no problem. Without the big boys we will be well under the radar.
0 traders viewing now