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Trading aud/nzd successfully

  • #21
  • Nov 22, 2008 4:20pm Nov 22, 2008 4:20pm
14 pips is still 10% of the daily ATR for this pair. That's really expensive.
You are in a maze of twisty little passages, all alike.
  • #22
  • Edited 4:37pm Nov 22, 2008 4:27pm | Edited 4:37pm
Quoting stevegee58
14 pips is still 10% of the daily ATR for this pair. That's really expensive.
Lol I'm not saying it isn't but the cheapest I could find was 12 pip and that wasn't exactly with a ... umm 'respectable' broker so it isn't like there is a ton of options. IBFX use to have a spread of 11 but they raised it to 14 recently when the market started moving alot.

Edit: In fact the spread is the MAJOR problem with ea, at least I think so. I researched the spread on other brokers and found them all to be around the same, sadly.
  • #23
  • Nov 22, 2008 4:57pm Nov 22, 2008 4:57pm
how annoying are you bob, im gonna have to go download another demo platform

very clever, demo testing shall be fun again this week, cant wait to see my results
Grabbing the bull by the horns!
  • #24
  • Edited 6:35pm Nov 22, 2008 6:22pm | Edited 6:35pm
[quote=desi;2369623]
Quoting nanningbob
OK, here it is. This package is my successful package for trading the Aud/Nzd. I started OCT. 22 live and made 500 dollars on the original 500 I posted. .......quote]

Thanks again Bob for your work and most important sharing that.
Now you started with a $500 account and your intial lot size is 0.05 (5 cents) and with 7 levels x 1.6, your final lot size is 0.88 ( 88 cents), right?
My question is if one is trading a mini dime account and start with lot size of 0.01 (10 cents), then the final lot size will be 0.21 ($2.10),...
Use the excel program I sent in the original package. If you put dimes in you can change the multiplication back down to 1.5 or 1.4. Check the figures and see which ones you are comfortable with. Also the guy who has the 20 pip spreads you can do the same thing and see if anything will work. It is one of the reasons we put that in so people can find what works best with their broker. You can use 1.5 and 6 levels for a safety net and trade a little smaller area.

The excel program was donated by FrostCall. I consider it a brilliant piece of work and one of the most useful tools ever used in trading forex. Thanks, I cant say enough on what a great piece of work it is.

I have also tested live a 50x15 and a 50x20 and both were profitable. In fact they are more profitable than the 35x20, however, the 35x20 gets you out of trouble quicker than those others do and uses slightly less margin. I wanted something you could trade with 500 dollars or less. With a 20 pip spread you may want to test them. You will need to change the levels and multiplication.

Also, there were time I traded dimes when I went over 600 dollars and was successful with it until last Thurs. That is why you see such a big bite. When I took a hit, it was a doozy but I also was making over 10% a day on my account. Remember it was not the Aud/Nzd I took the hit on it was the Eur/Cad. I hate the Cad (sorry Canadian friends) The figures all say you can trade it but all of a sudden it goes on one of its runs and that beast just will not retrace.
  • #25
  • Nov 22, 2008 6:46pm Nov 22, 2008 6:46pm
Here is a 367 pip day on a 5 minute chart. Even when it moves 3-400 pips in a day it will have its retracements for profit. This is Oct. 22. Like all my EAs I do not trade weekends and I close early on Fridays. I also wait for the monday gaps to settle first before turning on the EA. Notice how price always stayed in the range of the EA even though it was a big day. Its movements consistently stays within the 150 pip range.
Attached Image (click to enlarge)
Click to Enlarge Name: aud nzd 5m oct 22 367pips.gif Size: 21 KB
  • #26
  • Nov 22, 2008 8:18pm Nov 22, 2008 8:18pm
[quote=nanningbob;2369748]
Quoting desi

Use the excel program I sent in the original package. If you put dimes in you can change the multiplication back down to 1.5 or 1.4. Check the figures and see which ones you are comfortable with. Also the guy who has the 20 pip spreads you can do the same thing and see if anything will work. It is one of the reasons we put that in so people can find what works best with their broker. You can use 1.5 and 6 levels for a safety net and trade a little smaller area.

The excel program was donated by FrostCall. I consider it a...
Thanks for your reply. Well I am from Canada, but don't worry if you hate Cad.
I got confused when you mentioned 20 pips spread couple of times in your reply. I never mentioned about the 20 pips spread, my broker also has 14 pips spread.
  • #27
  • Nov 22, 2008 8:32pm Nov 22, 2008 8:32pm
[quote=desi;2369811]
Quoting nanningbob

Thanks for your reply. Well I am from Canada, but don't worry if you hate Cad.
I got confused when you mentioned 20 pips spread couple of times in your reply. I never mentioned about the 20 pips spread, my broker also has 14 pips spread.
It wasnt a reference to you there is someone who did. I often combine comments from several posts in my answers.
  • #28
  • Nov 22, 2008 9:28pm Nov 22, 2008 9:28pm
Nanningbob,

I set up your charts using your instructions and have a few questions. The profile opens with two charts; a H4 and a H1. Why not the M5 also? My second questions is why are there two EA's? One for buy and one for sell I'm assuming on two different charts? Why would the sell be different from the buy? Could you tell us a little bit more about how the charts are set up. I'm a little confused by the profile, but looking forward to running it.

1Trader2http://www.forexfactory.com/images/icons/icon5.gif
  • #29
  • Nov 22, 2008 10:49pm Nov 22, 2008 10:49pm
Hi there Bob,

A very pleasant weekend to you.

I have spent many fruitful hours on your 100x80 EA thread and the Holy Grail EA thread. I am truly impressed at your passion for this system, to get it as profitable as possible and to avoid the blowup trade.

Thank you very much for all the knowledge that you have imparted. For me there could not have been a better teacher than you with your remarkable patience to explain your method to one and all.

I have tried your previous EA's. I definitely will be trying this EA. I wish you all the success which you so rightly deserve.

May the PIPS be with you.
  • #30
  • Nov 23, 2008 12:10am Nov 23, 2008 12:10am
Something out of topic here and i hope nanningbob don't mind. Just wanna share this with u guys.

Anyone heard of AMEROS replacing USD and de-monetize USD ?

http://en.wikipedia.org/wiki/Amero

U.S. Ships 800 Billion “AMEROS” to China; prepares to De-Monetize U.S. Dollar

U can do some google search and u will find lots of information. If this really happens, i think forex gonna go crazy
  • #31
  • Nov 23, 2008 12:39am Nov 23, 2008 12:39am
Quoting forexisfx
Something out of topic here and i hope nanningbob don't mind. Just wanna share this with u guys.

Anyone heard of AMEROS replacing USD and de-monetize USD ?

http://en.wikipedia.org/wiki/Amero

U.S. Ships 800 Billion “AMEROS” to China; prepares to De-Monetize U.S. Dollar

U can do some google search and u will find lots of information. If this really happens, i think forex gonna go crazy
www.zeitgeistmovie.com, one world government in our lifetime
Grabbing the bull by the horns!
  • #32
  • Nov 23, 2008 12:56am Nov 23, 2008 12:56am
Quoting 1trader2
Nanningbob,

I set up your charts using your instructions and have a few questions. The profile opens with two charts; a H4 and a H1. Why not the M5 also? My second questions is why are there two EA's? One for buy and one for sell I'm assuming on two different charts? Why would the sell be different from the buy? Could you tell us a little bit more about how the charts are set up. I'm a little confused by the profile, but looking forward to running it.

1Trader2http://www.forexfactory.com/images/icons/icon5.gif
Well they should both start at 1H but that is not a problem. MT4 EAs can handle only sells or buys. You need a different magic number in the order to trade both ways at the same time therefore two charts and two EAs. The Sell EA is the same as the buy EA and will operate the same no matter which chart it is on. The signals come off of the daily chart for the buy and sell. If price is higher than the low it buys on the buy EA and if price is lower than the high it sells on the sell EA. Both signals are from the 1D candle so it does this no matter which chart you use.

You can set up more charts if you want with 5m etc. I just click around to the different time periods as I see fit. It will not alter the EA in any way.
  • #33
  • Nov 23, 2008 1:03am Nov 23, 2008 1:03am
The two charts are set up differently so you can read the market. I use the pivots to make decisions on closing trades. If price is going out of range but I can see it approaching R2 or S2; S1 or R1. I will change my stop loss to the other side because price will often bounce off these areas and retrace. It is a decision line to stay in or stay out. the same thing with the MA lines. The red lines are 150 pips above and below the 80 MA and they seldom will venture outside those lines. I know I am safe between those lines. Once you get used to them they will tell you a story of whether you are really in trouble or not.
  • #34
  • Nov 23, 2008 1:12am Nov 23, 2008 1:12am
Darlin, when you look at items on a webpage, you need to ask yourself 2 questions.

1. Who is the author?
2. What is their agenda?

Answers -
1. The link you posted is from a ficticious author (note there is no detail about the author on the site).
2. The agenda can be found on the "open an account" page. It is a front for Zecco brokerage, hoping to snare naive young traders like yourself with sensationalist b.s.

Ask yourself this... what would the USD stand to gain by absorbing the Peso (LOL LOL)? Nothing, I hear you say? RIGHT. Conspiracy theory at it's most lame.

Sheesh. You can let go of the panic button now.
  • #35
  • Nov 23, 2008 1:20am Nov 23, 2008 1:20am
Quoting whitegoodman
www.zeitgeistmovie.com, one world government in our lifetime
At this time I would not put too much weight on these guys. These stories have been around a while.

First the Canadians would have to agree and they are paranoid enough about being swallowed up by their neighbor to the south. I do not think they want to have anything to do with it.

Second, there is no desire here in the USA to link our economy up with the Mexican economy, at this time it makes no sense to do this. There is nothing they have to offer that really benefits the USA by such a link up.

Third, the fact that the Euro dropped like a rock at the first sign of trouble shows how little faith people have in 10+ nations working together in unison to solve problems. The reason investors ran to the dollar for safety is we have the resources to overcome these present problems and as a unified nation we can address them more quickly and with a single focus. We have moved faster than any other nation to address the problems, other countries are just now getting started. We are more able to react and change that the more static socialist economies.

Remember 6-7% unemployment is not that disasterous as people are making it out to be. We have not reached 30 bank failures yet, the money is in place to help troubled banks, and there are more resources left to use. In the depression thousands of banks folded and unemployment reached 30%. We didnt need to get rid of our currency then and we dont need to now. Study history folks, nations that have had their currencies destroyed happen in times of hyperinflation not deflation.

The market is in a correction not destruction. Once housing prices equal income again, we will move out of this. I think you will see government policies that will promote inflation so get things evened up again. Housing will stagnate but a jump in inflation will help incomes move up to where people can afford to buy again. What we really are facing is what the Japanese faced for 10 years. No growth stagnation. They have offered 1% loans or less for 10 years. They are just now getting their economy balanced again. We may face the same thing but because we are so huge of an economy I dont think it will take 10 years to overcome. Just my ignorant opinion at this point.
  • #36
  • Nov 23, 2008 1:29am Nov 23, 2008 1:29am
Quoting Trader7
Hi there Bob,

A very pleasant weekend to you.

I have spent many fruitful hours on your 100x80 EA thread and the Holy Grail EA thread. I am truly impressed at your passion for this system, to get it as profitable as possible and to avoid the blowup trade.

Thank you very much for all the knowledge that you have imparted. For me there could not have been a better teacher than you with your remarkable patience to explain your method to one and all.

I have tried your previous EA's. I definitely will be trying this EA. I wish you all the success...
Thank you very much for your comments. I hope you also will be successful. I once learned in a leadership course, if you make other people successful, you will become a success. If everyone who uses this makes money, then it means I will too. I just know I cant think of everything and there are people out there that can contribute to help me become a successful trader. The system exists because people gave me ideas and they are bearing fruit. Again thank you for your comments.
  • #37
  • Nov 23, 2008 1:37am Nov 23, 2008 1:37am
Quoting nanningbob
Thank you very much for your comments. I hope you also will be successful. I once learned in a leadership course, if you make other people successful, you will become a success. If everyone who uses this makes money, then it means I will too. I just know I cant think of everything and there are people out there that can contribute to help me become a successful trader. The system exists because people gave me ideas and they are bearing fruit. Again thank you for your comments.
hear hear... lets see if Bob can get me to retire before my 21st bday lol
Grabbing the bull by the horns!
  • #38
  • Nov 23, 2008 3:54am Nov 23, 2008 3:54am
30x9 0.1x1.3 AUDNZD

I have already been experimenting with the AUDNZD after Bob's enthusiastic posts a week or so ago.
FrostCall's spreadsheet has been invaluable help in optimising settings.
I started with 30x10, but soon found that the gap was often 11 12 or 13 pips and 12+ has a big effect on the profitability, so I set it to 9 and that seemed to solve that.
I ran it non stop from Mon - Fri It went 15 levels twice - the second time being Friday, so I had an interesting time hoping for a retrace before the end of play! Level 15 should bag $26 when it closes all 15 trades, but in reality it lost $89 the first time and $52 the second (due to prices moving so fast). In
theory this setting can go 22 levels and still close at a profit at which max DD would be $2000.
Actual DD at 15 levels was approx. $300 each time.
Ended the week at +$339.75

After hitting 15 levels on 19th I decided to go back to testing the 50x20 at 0.1x1.3 and see how it compared.
It went 7 levels once and 6 levels 3 times. Much more comfortable to live with (DD at level 7 is $60 max) and ended 48 hrs later at +$118

Finally, Bob indicated that 50x15 0.05x1.4 was worth trying, so I ran that from Thurs 08.15 GMT.
It was up $120 at one point then got stuck in the long uptrend that began Friday 05.00 gmt - at 17.30 gmt it was at level 12 (max DD at 12 is potentially $200) - and as it was late for me 11pm (GMT+5.5) I decided to close and go to bed -$30 - next morning I see another 90mins after I retired it would have made the necessary retrace (15 hrs from the start of the sequence!).

Looks like 50x20 0.1x1.3 is my choice for next week.

Below is the graph for the 30x9 for the week - you can clearly see the 2 big spikes for level 15.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement11.gif Size: 5 KB
He has the right to criticize who has the heart to help. Abraham Lincoln
  • #39
  • Edited 12:04pm Nov 23, 2008 11:35am | Edited 12:04pm
Quoting Jim4x
30x9 0.1x1.3 AUDNZD

I have already been experimenting with the AUDNZD after Bob's enthusiastic posts a week or so ago.
FrostCall's spreadsheet has been invaluable help in optimising settings.
I started with 30x10, but soon found that the gap was often 11 12 or 13 pips and 12+ has a big effect on the profitability, so I set it to 9 and that seemed to solve that. ....
Hi Jim,
Thanks for sharing.
I didn't undestand the part where you said that 'the gap was often 11, 12 or 13 pips ...", you mean on retrace it missed the TP by that many pips? Please clarify this point.

Edit: Or may be you mean slippage, right?
  • #40
  • Nov 23, 2008 1:36pm Nov 23, 2008 1:36pm
Quoting Verto
In the spirit of pretty graphs here is one of my live accounts using this EA for this week.
very smooth verto
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