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100 x 80 EA oh boy

  • #361
  • Nov 20, 2008 6:33am Nov 20, 2008 6:33am
whitegoodman,
try this one . Put it in your Scripts file. It seems to work on these ea's.

just drag it or doubleclick it to the chart.
Attached File(s)
File Type: mq4 Close all open positions.mq4   1 KB | 331 downloads
  • #362
  • Edited 8:58am Nov 20, 2008 6:49am | Edited 8:58am
Well..I've been waiting for a retrace since yesterday and it hasn't happened yet. My floating loss is now $1,710, but worse than that my free margin is down to $7 from a balance of $4,241. It may have even gone into negative margin while I was sleeping. Is there a way to check?

The GBP/USD, AUD/USD, AUD/CHF seems to be ones causing the most trouble. The S&R (attached) seems to above the S1 line. I think it might be time to sell everything and cut our losses, before I get a margin call?

Bob, can you please explain how I could have avoided this by looking at the charts.

Thanks,
Anthony
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  • #363
  • Nov 20, 2008 6:58am Nov 20, 2008 6:58am
Quoting acosta2269
Well..I've been waiting for a retrace since yesterday and it hasn't happened yet....
Are u doing this live ?
  • #364
  • Nov 20, 2008 7:02am Nov 20, 2008 7:02am
Quoting forexisfx
Are u doing this live ?

no...just a demo. If this were a real account, I would have taken my small profit out yesterday before the US close. I had banked a lot of profit by then, but I also had a large floating balance. In the interest of learning how the EA (and the markets) work, I let it ride into the JPY and waited for a retrace. However, waiting has caused my free margin to be used up!

I suppose it's one of the dangers...unless I did something wrong or have the wrong setup.
  • #365
  • Nov 20, 2008 7:43am Nov 20, 2008 7:43am
Quoting nanningbob
Put it all together you get the 100x80 and another EA that works perfectly with a small group of currencies. I will post that one this weekend with my 1 month of live trading results.
Hope that u will post the new thread on the same forum section with this thread. I find that the "Trading Systems" section has a lot of unnecessary noise and sometimes the people there pissed the thread owner off and end up closing the thread.

Looking forward to ur other EA this weekend.

Thnx for everything u had given to us.
  • #366
  • Nov 20, 2008 8:25am Nov 20, 2008 8:25am
Quoting forexisfx
Hope that u will post the new thread on the same forum section with this thread. I find that the "Trading Systems" section has a lot of unnecessary noise and sometimes the people there pissed the thread owner off and end up closing the thread.

Looking forward to ur other EA this weekend.

Thnx for everything u had given to us.
I hope this unfortunate situation will be avoided here somehow.
"Put all your efforts in becoming effortless"
  • #367
  • Nov 20, 2008 9:30am Nov 20, 2008 9:30am
Frostcall, I'm confused as to what the numbers on the sprteadsheet mean. Under the last column, the MAX column, where you show floating loss of -1628.80, I assume that's in dollars? Is that what the drawdown would be for buying and selling just one pair? Would it be twice that for each pair added? I'm demoing at .05 using the 100X80 on 6 pairs, and have a drawdown of $5,000.00 with only two pairs going to the fourth level. Based on this, I guess it's possible to have a drawdown of $1,628.80 and a stop loss of $3,674.80 just going .01 on just one pair. Is this a correct assumption?
Quoting FrostCall
Yikes!! Those settings made my dog cry

A good idea for checking out your settings is to look at what would happen if things went against you a few hundred pips or so. In the case of the settings you had listed above, it was REALLY BAD. The reward is not worth it. For 100 pip coverage, you should be looking for a max payout of $30-50, not $200, with a DD of maybe $80. Also try to get a coverage that's 30-50% greater than what you think you need. Posted here again, is the settings finder. For the record, I'm a big fan of the 100x40 and...
  • #368
  • Nov 20, 2008 9:31am Nov 20, 2008 9:31am
Unfortunately there will always be trolls that just want to upset everyone. I suggest we simply ignore them if they come to nanningbob's thread.
  • #369
  • Nov 20, 2008 9:31am Nov 20, 2008 9:31am
Hi All,

It appears that I am having the same luck as acosta and not getting the same results as most people seem to be in the thread. I opened a fresh demo and starting trading last night at 7pm (GMT+2) and let it run through the night. This morning when I woke up I was pretty bummed to see that my floating loss was way past when I actually would've been margin called had it been a live account.

Anyways, I thought it may have been cos I traded in the US session, so at 7am this morning (GMT+2) I started afresh. Sad to say that I just checked and my DD was about 70% and I would've already been margin called.

The smallest account Alpari demo offers is 3000, but in the back of my mind I have had the 500 buck figure as discussed numerous times, and sorry to say that I would've been margin called twice in the last 24 hours. I'm trading the standard 0.01 settings.

Anybody else experienceing this??

Quoting acosta2269
Well..I've been waiting for a retrace since yesterday and it hasn't happened yet. My floating loss is now $1,710, but worse than that my free margin is down to $7 from a balance of $4,241. It may have even gone into negative margin while I was sleeping. Is there a way to check?

The GBP/USD, AUD/USD, AUD/CHF seems to be ones causing the most trouble. The S&R (attached) seems to above the S1 line. I think it might be time to sell everything and cut our losses, before I get a margin call?

Bob, can you please explain how I could have avoided this...
"The market giveth and the market taketh away"
  • #370
  • Nov 20, 2008 9:41am Nov 20, 2008 9:41am
Quoting urbanFX
Hi All,

It appears that I am having the same luck as acosta and not getting the same results as most people seem to be in the thread. I opened a fresh demo and starting trading last night at 7pm (GMT+2) and let it run through the night. This morning when I woke up I was pretty bummed to see that my floating loss was way past when I actually would've been margin called had it been a live account.

Anyways, I thought it may have been cos I traded in the US session, so at 7am this morning (GMT+2) I started afresh. Sad to say that I just checked and...

The thing is Alpari does not allow nano lots like Interbank fx so .01 lot is really ten times larger equivalent to .10 lots. In other words you were effectively trading a $300 account. A $500 account would still probably have margined out. I think you really need a much larger starting balance to safely handle the large moves that a currently happening.
  • #371
  • Nov 20, 2008 9:54am Nov 20, 2008 9:54am
That may make sense, Alpari's 0.01 lots = 10c. At IBFX does 0.01 lots = 1c?

If that is the case, then I should open a 5000 account and trade 0.01 lots with alpari to compare apples for apples.

Would this be correct?

Quoting toyoproxo
The thing is Alpari does not allow nano lots like Interbank fx so .01 lot is really ten times larger equivalent to .10 lots. In other words you were effectively trading a $300 account. A $500 account would still probably have margined out. I think you really need a much larger starting balance to safely handle the large moves that a currently happening.
"The market giveth and the market taketh away"
  • #372
  • Nov 20, 2008 10:33am Nov 20, 2008 10:33am
Quoting toyoproxo
The thing is Alpari does not allow nano lots like Interbank fx so .01 lot is really ten times larger equivalent to .10 lots. In other words you were effectively trading a $300 account. A $500 account would still probably have margined out. I think you really need a much larger starting balance to safely handle the large moves that a currently happening.

My demo is with IBFX so I think .01 lot is really .01.

I Started with $3,000 and .02 lots and 14 pairs.
  • #373
  • Nov 20, 2008 10:35am Nov 20, 2008 10:35am
I'm trading .01 lots and on USDCAD, USDJPY, EURUSD, AUDUSD, EURJPY, GBPUSD, USDCHF and AUDJPY

Quoting acosta2269
My demo is with IBFX so I think .01 lot is really .01.

I Started with $3,000 and .02 lots and 14 pairs.
"The market giveth and the market taketh away"
  • #374
  • Nov 20, 2008 10:37am Nov 20, 2008 10:37am
Quoting urbanFX
That may make sense, Alpari's 0.01 lots = 10c. At IBFX does 0.01 lots = 1c?

If that is the case, then I should open a 5000 account and trade 0.01 lots with alpari to compare apples for apples.

Would this be correct?



Yes, that would be correct.
  • #375
  • Nov 20, 2008 10:51am Nov 20, 2008 10:51am
OK, just to make 100% sure, let's take an example here. If I close a USD trade for the 100 pip profit it's worth 10 bucks. Are you telling me that 100 pip profit for you at 0.01 on IBFX is only $1?
"The market giveth and the market taketh away"
  • #376
  • Nov 20, 2008 10:52am Nov 20, 2008 10:52am
Quoting whitegoodman
yeh the problem is the aussie dollar is so beaten down at the moment that my initial withdrawls could take a hammering if it goes back up. I asked the live chat person and he said ibfx is done in US dollars....

.... SAVE ME JEBUS!
I am also in the same boat, but I have a seperate US Dollar account with my bank. This way you can convert the currency whenever the rates are favourable to you. Just check with your bank if they allow this.
Hope this helps.
  • #377
  • Edited 11:06am Nov 20, 2008 10:54am | Edited 11:06am
Quoting urbanFX
OK, just to make 100% sure, let's take an example here. If I close a USD trade for the 100 pip profit it's worth 10 bucks. Are you telling me that 100 pip profit for you at 0.01 on IBFX is only $1?
You got it.
(1c per pip, 100c per 100 pips).
  • #378
  • Nov 20, 2008 11:04am Nov 20, 2008 11:04am
Quoting urbanFX
OK, just to make 100% sure, let's take an example here. If I close a USD trade for the 100 pip profit it's worth 10 bucks. Are you telling me that 100 pip profit for you at 0.01 on IBFX is only $1?

Yes
  • #379
  • Nov 20, 2008 11:06am Nov 20, 2008 11:06am
Right, well I'll restart with a 5000 account then trading 0.01 lots and let you guys know how it goes.

Thanks for all the help!
Quoting desi
You got it.
"The market giveth and the market taketh away"
  • #380
  • Nov 20, 2008 11:32am Nov 20, 2008 11:32am
Trading 6 pairs at .05 and letting my account run all week has brought me a drawdown of a little over $5,000.00, and caused some trades to be closed out. Quite an eye opener to see what a heavily trending market can do, and just how big of a difference there is between .01, .03, and .05. Before the start of the US session, I was down about $3,000.00 and the drawdown magnified after that.

On my demo account using .03, the biggest drawdown to date has been only $300.00 with two pairs now at level 5 (CHF/JPY and AUD/USD). The other pairs on this demo are EUR/USD, USD/JPY, EUR/CHF, USD/CHF, NZD/USD, and USD/JPY for a total of 8 pairs.

A $5,000.00 plus drawdown on 6 pairs at .05 versus a $300.00 drawdown on 8 pairs at .03
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