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100 x 80 EA oh boy

  • #401
  • Nov 20, 2008 9:14pm Nov 20, 2008 9:14pm
Quoting Verto
Very risky... you go from .01-.02 to .10? That is 5x the amount of risk and margin.
problem is the smallest i can trade on GO markets is 0.01 on standard which means dimes.... in my testing the drawdown has only been 10% at worst, keep in mind i dont trade the US session.
Grabbing the bull by the horns!
  • #402
  • Nov 20, 2008 9:16pm Nov 20, 2008 9:16pm
Quoting whitegoodman
problem is the smallest i can trade on GO markets is 0.01 on standard which means dimes....

maby i should clarify when im saying im trading dimes on a $3000 account its in aussie dolalrs so its roughly $5000 US...still too risky?
I don't know white... I'd test it in demo and see how the account is when it is near/in a death trade.

On another note.... nanning what happen to your aud/nzd live account? I don't see it in the top 100s even though you were 20th yesterday. Did you get a death trade? I've had a stellar past two days.
  • #403
  • Nov 20, 2008 9:40pm Nov 20, 2008 9:40pm
Quoting Verto
I don't know white... I'd test it in demo and see how the account is when it is near/in a death trade.

On another note.... nanning what happen to your aud/nzd live account? I don't see it in the top 100s even though you were 20th yesterday. Did you get a death trade? I've had a stellar past two days.
I took a loss yesterday so I asked for my 500 dollars in profit and exited the contest. I knew I had gotten beat and wasnt going to place high. The AUD/NZD did not cause the problem, I was also trading the EUR/CAD and it never retraced. So I took my loss of 300 dollars and took my profit for the month. I also took 400 from my other account so I am getting 900 dollars for the month. I was looking at a 1000 and 500 until last night but 900 is ok since I only started with 500 in one account in late OCT. I will start a new thread this weekend and write about it, probably start it tonight. I am also testing the AUD/NZD on just 200 dollars just to see if it can be done. I think I can. I will started with that today.
  • #404
  • Nov 20, 2008 9:43pm Nov 20, 2008 9:43pm
Getting near death trade is something that everyone should get used to. If u never got a death trade in demo account, don't trade live becoz u don't see what's coming in death trade.

Especially in live trades, when u are 1 - 2 level away from death trade, the psychological will kick in hard into u. U don't know whether to cut loss or stick till the last level until it blow up. For those who is new to this should really learn how the EA behaviors and try to baby sit the EA from the moment u turn on the EA. U will learn a lot by observing how the EA take the trade.

Like nanningbob said before, try to blow up several demo account and u will learn from it.
  • #405
  • Nov 20, 2008 9:47pm Nov 20, 2008 9:47pm
Quoting forexisfx
Getting near death trade is something that everyone should get used to. If u never got a death trade in demo account, don't trade live becoz u don't see what's coming in death trade.

Especially in live trades, when u are 1 - 2 level away from death trade, the psychological will kick in hard into u. U don't know whether to cut loss or stick till the last level until it blow up. For those who is new to this should really learn how the EA behaviors and try to baby sit the EA from the moment u turn on the EA. U will learn a lot by observing how the...
hmmm surely if i run pennies on an account with 5 grand it cant get blow up easily??
Grabbing the bull by the horns!
  • #406
  • Nov 20, 2008 9:47pm Nov 20, 2008 9:47pm
Quoting nanningbob
I took a loss yesterday so I asked for my 500 dollars in profit and exited the contest. I knew I had gotten beat and wasnt going to place high. The AUD/NZD did not cause the problem, I was also trading the EUR/CAD and it never retraced. So I took my loss of 300 dollars and took my profit for the month. I also took 400 from my other account so I am getting 900 dollars for the month. I was looking at a 1000 and 500 until last night but 900 is ok since I only started with 500 in one account in late OCT. I will start a new thread this weekend and write...
Good times. I only have been using Aud/nzd and am up a pretty good amount. About 20% on my account. I've actually been using the built in MM/risk percentage for the smoother equity curve. You can totally do it on a smaller account with higher lots, but since my account is larger I like it.
  • #407
  • Nov 20, 2008 9:48pm Nov 20, 2008 9:48pm
Quoting whitegoodman
hmmm surely if i run pennies on an account with 5 grand it cant get blow up easily??
It isn't pennies though you said it was dimes. Pennies and dimes are a big difference with this system.
  • #408
  • Nov 20, 2008 9:53pm Nov 20, 2008 9:53pm
Quoting Verto
It isn't pennies though you said it was dimes. Pennies and dimes are a big difference with this system.
sorry my mind runs a bit quick, that was a follow up question, jsut looked on fxcm, they run micros and can have the defulat account in aussie dollars

$5000 on pennies or 0.02 would be fairly safe considering i dont play the US session??
Grabbing the bull by the horns!
  • #409
  • Nov 20, 2008 9:57pm Nov 20, 2008 9:57pm
Quoting whitegoodman
hmmm surely if i run pennies on an account with 5 grand it cant get blow up easily??
IMO, in longer term, it's not about blowing up live account, it's about blowing up the trades. If the trades reaches last level and it hit another level, all trade will be close will a loss, we are talking about a loss which clear out most/all of ur profit u previously earn slowly everyday.
  • #410
  • Edited 10:02pm Nov 20, 2008 9:58pm | Edited 10:02pm
Quoting whitegoodman
sorry my mind runs a bit quick, that was a follow up question, jsut looked on fxcm, they run micros and can have the defulat account in aussie dollars

$5000 on pennies or 0.02 would be fairly safe considering i dont play the US session??
I think so... to be perfectly honest I don't use 100x80 on the different pairs. I only trade Aud/nzd. I have been around the thread though and have demoed it.

On that note, I think you would be 'fairly safe' as far as margin requirments go. As far as how many pairs, times, and lot sized under .05 as your max I think it is something you need to decide. I reccomend demoing different lot sizes, etc treating it live for at least a month. I know it seems like a long time, but it gives you the chance to experience some of the different ways the market can react and how the EA reacts as well as how it works.
  • #411
  • Nov 20, 2008 10:00pm Nov 20, 2008 10:00pm
Quoting Verto
I think so... to be perfectly honest I don't use 100x80 on the different pairs. I only trade Aud/nzd. I have been around the thread though and have demoed it.

On that note, I think you would be 'fairly safe' as far as margin requirments go. As far as how many pairs, times, and lot sized under .05 as your max I think it something you need to decided. I reccomend demoing different lot sizes, etc treating it live for at least a month. I know it seems like a long time, but it gives you the chance to experience some of the different ways the market...
this is true, im not going live for a bit, im jsut trying to get organised so to speak so when i do itll jsut be flicking on the switch... dont thing fxcm is mt4 hmm my search for someone who does micros and has the account balance in Australian dollars continues..

EDIT: oh wait it does, it has two platforms, silly me

EDIT EDIT: damnit they dont run micros for mt4 only there other platform, damnit
Grabbing the bull by the horns!
  • #412
  • Nov 20, 2008 10:10pm Nov 20, 2008 10:10pm
Would an EA that closes out all trades at the equity value you set protect you against this death trade? If you go a small amount such as .02 or .03 on 6 to 8 safest pairs, and make maybe 3-5% a week, how about attaching a separate EA that will close out all trades at a 20% loss? That way, you don't blow an account, and can trade another day when the market isn't heavily trending. At this point, I don't don't know whether 20% or some other number would be best. I need to see more history on the demo. Just how often would this death scenario pop up?
Quoting forexisfx
IMO, in longer term, it's not about blowing up live account, it's about blowing up the trades. If the trades reaches last level and it hit another level, all trade will be close will a loss, we are talking about a loss which clear out most/all of ur profit u previously earn slowly everyday.
  • #413
  • Nov 20, 2008 10:11pm Nov 20, 2008 10:11pm
One thing to take note for everyone. Demo and live trade have slightly different results. Sometimes, ur trades in demo account TP and ur live account don't TP (both switch on EA at the same time).

If u have success doing demo, use cents to further live trade demo before u use dollar.
  • #414
  • Nov 20, 2008 10:20pm Nov 20, 2008 10:20pm
Quoting forexisfx
One thing to take note for everyone. Demo and live trade have slightly different results. Sometimes, ur trades in demo account TP and ur live account don't TP (both switch on EA at the same time).

If u have success doing demo, use cents to further live trade demo before u use dollar.
I run an ibfx demo and an ibfx live account together and I have noticed a very 'slight' difference in tp/sl orders.

By slight I mean there is about a 15$ balance different for a month of trading. That isn't horrible in my mind, althought it would suck if say the one trade your live account misses that your demo makes happens to be the death trade one.
  • #415
  • Nov 21, 2008 2:08am Nov 21, 2008 2:08am
Quoting Verto
I run an ibfx demo and an ibfx live account together and I have noticed a very 'slight' difference in tp/sl orders.

By slight I mean there is about a 15$ balance different for a month of trading. That isn't horrible in my mind, althought it would suck if say the one trade your live account misses that your demo makes happens to be the death trade one.
Yeah, that's bound to happen simply due to process priority, timing and other factors. It's kind of like if you dial a radio station to be the 100th caller from two cell phones on the same service at the same time. You can't both be caller #100, but you should be rather close. $15 is pretty darn close for a month.
  • #416
  • Edited 7:11am Nov 21, 2008 6:41am | Edited 7:11am
damnit that close all positions thing doesnt work for me.... i put it into experts>scripts. Then i relaunched mt4 and then double clicked it and keeps coming up with an annoying failed to close bell... any tips?

now ive added a new one and i double click to add to chart then it does nothing? am i missing something?
Grabbing the bull by the horns!
  • #417
  • Nov 21, 2008 7:17am Nov 21, 2008 7:17am
Quoting whitegoodman
damnit that close all positions thing doesnt work for me.... i put it into experts>scripts. Then i relaunched mt4 and then double clicked it and keeps coming up with an annoying failed to close bell... any tips?

now ive added a new one and i double click to add to chart then it does nothing? am i missing something?
Have u tick the "Allow live trade" ?
  • #418
  • Edited 7:37am Nov 21, 2008 7:25am | Edited 7:37am
ok heres one week testing... all account started off with $3000 and was dime lot size with 8 levels, standard 100 x 80 settings in the original EA. Also note I switch on right at the start of the Sydney session (i live in Sydney and go to work at 7.30ish) and close before i go to bed bout 30min or so before or right on the US session start.
However on tuesday i let it run through the night as at worst it was only 2 levels deep on all accounts, which can be seen in the spike upwards on all charts on the second day.

Demo 1 - 12 currencies - more aggressive

Pairs:

EURUSD, USDJPY, GBPUSD, USDCHF, USDCAD, AUDUSD, EURJPY, EURCHF, GBPCHF, AUDCAD, CHFJPY, AUDJPY

End Total: $3346.73
MAX DD: approx $800ish (not at computer all day)

Graph 1...


Demo 2 - 10 currencies - medium

Pairs:

EURUSD, USDJPY, GBPUSD, USDCHF, USDCAD, AUDUSD, EURJPY, EURCHF, CHFJPY, AUDJPY

End Total: $3480.67
MAX DD: approx $500ish (not at computer all day)

Graph 2...



Demo 3 - 8 currencies - safer

Pairs:

AUDCAD, EURUSD, CHFJPY, EURCHF, USDCHF, AUDUSD, USDJPY, USDCAD

End Total: $3189.97
MAX DD: approx $250ish (not at computer all day)

Graph 3...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DetailedStatement1.gif Size: 5 KB
Click to Enlarge Name: DetailedStatement2.gif Size: 5 KB
Click to Enlarge Name: DetailedStatement3.gif Size: 5 KB
Grabbing the bull by the horns!
  • #419
  • Nov 21, 2008 7:29am Nov 21, 2008 7:29am
Quoting forexisfx
Have u tick the "Allow live trade" ?
how and where do i tick that, sorry guys im a very eager learner, luckily i only ever need to be told once
Grabbing the bull by the horns!
  • #420
  • Nov 21, 2008 7:47am Nov 21, 2008 7:47am
Hi all
Here's my results for the week.
Started at 05.16 GMT 17/11
Ended 12.35 GMT 21/11
Ran 100x80 6 safest currencies as per Bob
lots start 0.05 x2 every 80 pips
Profit $553.30
largest DD $235.88 - chfjpy - it went 7 levels before retracing - lot size by then was 3.2 and when hit profit = $333 just for that trade alone - the whole group in theory at 7 levels should close out for a net gain of $163, but due to speed of price change the actual figure was $123 - that's the large hump in the graph below.
Not quite sure how I feel about such a large DD - demo is definitely diff. from Live..... as this happened whilst a healthy amount had been banked then it was much easier to watch than if it had started the week that way!
Obviously there is much potential here.....

I am also running 3 variations of the AUDNZD pair and am waiting for a retrace as they are all carrying hefty DD at the moment...... will post results later.
Jim

PS whitegoodman - attached is the CloseAll script as recommended by Bob - works well for me.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement9.gif Size: 5 KB
Attached File(s)
File Type: mq4 CloseAll.mq4   6 KB | 316 downloads
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