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Trading aud/nzd successfully

  • #101
  • Nov 25, 2008 6:37am Nov 25, 2008 6:37am
Be VERY careful of this, I'm open to correction but I think you guys are making the wrong assumptions about the stop losses. You need to look at Frost's tool alot more carefully. Don't look at the 'DD @ STPLSS' column, you need to look at the 'Stoploss DD' column. As far as I know the 'Stoploss DD' column will be your total loss if you get stopped out, so if you were to trade 0.1 lots you would stand to loose about $480 if you got stopped out. Trading 0.2 mini lots would cost you nearly 1K if you got stopped out.

Quoting paradoxical
I also plan on going live very soon. Using the original setting of .05 netted about $45.00 from the Tokoyo session to the US open, when I closed all trades. I would have to think that going .10 would double this amount. Knowing that If you're completely stopped out it costs 50% of your capital, this is something to plan for. Another great EA by bob. Hope Bob is having a great vacation!
"The market giveth and the market taketh away"
  • #102
  • Nov 25, 2008 7:02am Nov 25, 2008 7:02am
Urbanfx,

Thank you for your helpful reply. I have the charts up, allowed live trades and have the smilely face, but still no trades. Any ideas?

Thanks,

Bruce
  • #103
  • Nov 25, 2008 7:05am Nov 25, 2008 7:05am
Quoting nanningbob
I wanted to prove you could trade my EA from the JPY open to near the USA open, consistently make money using a small amount of money. I started with 186 dollars in a live account and closed after two days with a 67.31 profit. Here is the chart. Instead of betting it all with one big account maybe 3 small accounts will do it for you instead. Just a thought.
Bob dropped a hint here, increasing the beginning lot size might not be the thing to be doing.
The idea from the start of all this has been to trade with SMALL account size using small lots.

It is natural to think that , hey this works why don't I throw a big chunk of $$ at it and get rich, but I have seen Bob say time & time again that is not how his methods work.
jmo.
  • #104
  • Nov 25, 2008 7:14am Nov 25, 2008 7:14am
Sorry, but I don't really agree with this. Whether you trade four $500 accounts or one $2000 account you will ultimately have the same reults give or take a few bucks. If you are trading four $500 accounts I'm assuming you would start the EA at the same time on all of them and close them all at the same time/profit. Therefore you could just as well be trading one $2000 account.

I think the important thing to remember here is sound money management. I think if you are going to trade bigger amounts, use Frost's tool and try and stay within similar ratios. The way I see it, ratio wise, if you trade pennies on a $500 account you should have the exact same growth if you trade dimes on a $5000 account.

Just my reasoning here....

Quoting tommyd
Bob dropped a hint here, increasing the beginning lot size might not be the thing to be doing.
The idea from the start of all this has been to trade with SMALL account size using small lots.

It is natural to think that , hey this works why don't I throw a big chunk of $$ at it and get rich, but I have seen Bob say time & time again that is not how his methods work.
jmo.
"The market giveth and the market taketh away"
  • #105
  • Nov 25, 2008 7:15am Nov 25, 2008 7:15am
Pips,

What trade settings are you using within the EA?

Quoting PipsNow
Urbanfx,

Thank you for your helpful reply. I have the charts up, allowed live trades and have the smilely face, but still no trades. Any ideas?

Thanks,

Bruce
"The market giveth and the market taketh away"
  • #106
  • Nov 25, 2008 8:22am Nov 25, 2008 8:22am
Urban,

I'm just using the default settings as they were downloaded, except adding a "0" to the "Take Profit" and to the "Pips" line.

Sorry, I don't know how to post a picture of the settings.

Thanks,

Bruce
  • #107
  • Nov 25, 2008 8:24am Nov 25, 2008 8:24am
Urban, I agree with you. Four $500.00 accounts where you're trading .05 would be the same as one $2,000.00 account where you're trading .20. I was going to put a post up about that myself. I would trade only .05 per $500.00 in my account, and if I got stopped out, that would cost me about $250.00. If I went .10 on a $500.00 account, I could blow the entire thing. I don't really see any advantage to more than one account if you're going to make the same trades. If you want to go .20, I think you should probably have an account size of $3 to $4,000. to be on the safe side.
Quoting urbanFX
Sorry, but I don't really agree with this. Whether you trade four $500 accounts or one $2000 account you will ultimately have the same reults give or take a few bucks. If you are trading four $500 accounts I'm assuming you would start the EA at the same time on all of them and close them all at the same time/profit. Therefore you could just as well be trading one $2000 account.

I think the important thing to remember here is sound money management. I think if you are going to trade bigger amounts, use Frost's tool and try and stay within similar...
  • #108
  • Nov 25, 2008 8:55am Nov 25, 2008 8:55am
Bruce,

Don't forget to change the 'TakeProfit' and 'StopLoss' values to 350 and 2000 respectively.

If I remember correctly, I had the same problem at first. What I did while the EA was attached to the chart to changed the pip value back to 20 and it instantly started opening trades, I changed it back to 200 opened a new demo account and it worked fine for me.

Stuart

Quoting PipsNow
Urban,

I'm just using the default settings as they were downloaded, except adding a "0" to the "Take Profit" and to the "Pips" line.

Sorry, I don't know how to post a picture of the settings.

Thanks,

Bruce
"The market giveth and the market taketh away"
  • #109
  • Nov 25, 2008 10:38am Nov 25, 2008 10:38am
Quoting paradoxical
Urban, I agree with you. Four $500.00 accounts where you're trading .05 would be the same as one $2,000.00 account where you're trading .20. I was going to put a post up about that myself. I would trade only .05 per $500.00 in my account, and if I got stopped out, that would cost me about $250.00. If I went .10 on a $500.00 account, I could blow the entire thing. I don't really see any advantage to more than one account if you're going to make the same trades. If you want to go .20, I think you should probably have an account size of $3 to $4,000....
Use the Settings Finder and you will see that it's not exactly the same. It is pretty close however (the old phrase 'close enough for government work' comes to mind). But it's a few dollars off here and there due to rounding.
  • #110
  • Nov 25, 2008 10:39am Nov 25, 2008 10:39am
Quoting Toothman
To those trading the 35/20 ,default settings, with $500 during the Asian session only. What has been the lowest free margin level you have seen? I think we're going to have to watch that when trading only $500. My lowest I've seen was 2746%. I'm still hoping FrostCall can come up with an indicator to track free margin. My results for two days -$500-$560.28 (12%) http://www.forexfactory.com/images/icons/icon10.gif

I think I'm on a different thought process than you are about this. What exactly is it that you are wanting to see?


EDIT- Up from $60 to $170 over night
But still down overall due to the 100x80
  • #111
  • Nov 25, 2008 11:11am Nov 25, 2008 11:11am
Quoting toyoproxo
I think this is by far the best EA developed by NanningBob to date. So much so, that I plan to finally go live tonight after watching it for the last 2 days. I have a live account at IBFX with $2,000 in it. Since Bob is on vacation, maybe Verto can answer this. Do you think .20 minilots would be safe to start with?
I use 0.20 on a account size of 3.4k currently. I'd actually start with 0.15 if I was using 2k.

edit:

btw, today is a pretty good example of a good day. We are only 2 pips from where it opened for the day and the entire day has been back and forth.
  • #112
  • Nov 25, 2008 11:32am Nov 25, 2008 11:32am
Frost, if you don't mind me asking, what settings are you using and what hours are you trading. That's some pretty decent growth you got going there!

Quoting FrostCall
EDIT- Up from $60 to $170 over night
But still down overall due to the 100x80
"The market giveth and the market taketh away"
  • #113
  • Nov 25, 2008 12:33pm Nov 25, 2008 12:33pm
like the ea so far 2 great days using default setting on standard account

opening just after us close and closing just before us open
Attached Image (click to enlarge)
Click to Enlarge Name: Image 1.gif Size: 6 KB
  • #114
  • Nov 25, 2008 1:48pm Nov 25, 2008 1:48pm
Quoting urbanFX
Frost, if you don't mind me asking, what settings are you using and what hours are you trading. That's some pretty decent growth you got going there!

I promised bob I'd stay on topic in his thread so I won't go into it too much. Im using his older settings of 50x15, instead of 35x15.
  • #115
  • Nov 25, 2008 2:26pm Nov 25, 2008 2:26pm
Quoting FrostCall
I promised bob I'd stay on topic in his thread so I won't go into it too much. Im using his older settings of 50x15, instead of 35x15.
For the ref. as well I use 50x20 not 35x15. So anyone who is asking themselves why your results are different than mine that is why. It is amazing how this EA has so many people using different settings. hehe, In general though you should similiar results 35x15 and 50x20 work the same way but the 35x15 is faster and has less range. I use 50x20 because I keep my EA running 24/5
  • #116
  • Nov 25, 2008 2:48pm Nov 25, 2008 2:48pm
Quoting FrostCall
I think I'm on a different thought process than you are about this. What exactly is it that you are wanting to see?


EDIT- Up from $60 to $170 over night
But still down overall due to the 100x80
There is an indicator posted somewhere in this thread called the AccountEquityAnalyzer. It tracks among other things, maximum floating drawdown. I'd like to find something similar to it that tracts free margin so that if I was away from the computer for several hours I could tell if I was at any point close to a margin call .
  • #117
  • Nov 25, 2008 3:09pm Nov 25, 2008 3:09pm
I decided to go live on my $4,000.00 account with IBFX, using the stock settings and going .15 per trade. Will try to give regular reports of the progress, so that others can see what happens on a live account. Will close trades somehwere around the US open each day and reopen somewhere around the Tokoyo open. This is a Holiday week in the US, so it will be a short week for my trading.
  • #118
  • Nov 25, 2008 3:35pm Nov 25, 2008 3:35pm
ok to clarify the first page of this thread outlines the use of 35x20... which im using


Verto and Frost are using 35x15, 50x20 and 50x15....

what are the stop losses for the 50 target ones.... around 375pip SL?
Grabbing the bull by the horns!
  • #119
  • Edited 4:17pm Nov 25, 2008 3:52pm | Edited 4:17pm
Quoting whitegoodman
ok to clarify the first page of this thread outlines the use of 35x20... which im using


Verto and Frost are using 35x15, 50x20 and 50x15....

what are the stop losses for the 50 target ones.... around 375pip SL?
VERTO:
50x20
1.2x
10 levels
MM on, 6% risk
250 stoploss setting

edit: I decided to add my settings to my sig, if you click it you can check the setting at any time.
  • #120
  • Nov 25, 2008 4:23pm Nov 25, 2008 4:23pm
Alas, we get off topic. White, you can see my info in my other thread that you have commented in. I won't talk about anything else but this system in this thread from now on.

Tooth, I'll look into it.
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