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Trading aud/nzd successfully

  • #121
  • Nov 25, 2008 7:46pm Nov 25, 2008 7:46pm
Thanks FrostCall. At present my free margin is at only 1633% with six buys and two sells. This is the lowest I've seen yet. A few more trades opened and you'd have a margin call. With real money I'd be tempted to look for an exit at this point.
  • #122
  • Nov 25, 2008 9:34pm Nov 25, 2008 9:34pm
Hi,
I have loaded 35x20 on Interbank.When i load profile it says waiting for update.Any suggestions what is wrong?? Thank you.
  • #123
  • Nov 25, 2008 9:35pm Nov 25, 2008 9:35pm
Quoting tipptdog
Hi,
I have loaded 35x20 on Interbank.When i load profile it says waiting for update.Any suggestions what is wrong?? Thank you.
You are in a standard account instead of a mini account.
  • #124
  • Nov 25, 2008 10:58pm Nov 25, 2008 10:58pm
Tooth,

What leverage are you using? I have a sneaky suspicion that you are using a very small leverage. To give you an idea, I have 5 buy and 5 sell trades open at the mo my margin level is at 18000% give or take.

For the record, I am using 1:100 not even the standard 1:400.

Stuart
"The market giveth and the market taketh away"
  • #125
  • Nov 25, 2008 11:54pm Nov 25, 2008 11:54pm
Quoting paradoxical
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.
I will be watching your reports closely as I will also be going live with a mini shortly.

Meanwhile, good luck to you.
"Put all your efforts in becoming effortless"
  • #126
  • Nov 26, 2008 4:41am Nov 26, 2008 4:41am
Quoting urbanFX
Tooth,

What leverage are you using? I have a sneaky suspicion that you are using a very small leverage. To give you an idea, I have 5 buy and 5 sell trades open at the mo my margin level is at 18000% give or take.

For the record, I am using 1:100 not even the standard 1:400.

Stuart
I'm using 1:400 with $500, 35/20, default settings, 8PM EST-sometime before U.S. markets open. I went to bed with free margin floating as low as 1588% but got up this am. and EA doing fine now (8900%). I'm sure free margin was lower than 1588% during the night. For me, I think I'd feel alot more comfortable starting with $2000-$3000 with this EA especially since I'm running it when I'm asleep.
  • #127
  • Nov 26, 2008 5:43am Nov 26, 2008 5:43am
Hi all,

Thanks to Bob for the great EA.

Does anyone know how the Account Money Protection setting works in the EA? I have not been able to get it to work. It would be nice to have a setting which would turn off the EA at stop loss or at some equity/balance level. The current settings seem to close trades and then start over if the stop loss or equity percent is reached. Since I cannot monitor the computer at all times, a setting to turn of trading altogether would help.
  • #128
  • Nov 26, 2008 5:45am Nov 26, 2008 5:45am
Quoting Corppu
Hi all,

Thanks to Bob for the great EA.

Does anyone know how the Account Money Protection setting works in the EA? I have not been able to get it to work. It would be nice to have a setting which would turn off the EA at stop loss or at some equity/balance level. The current settings seem to close trades and then start over if the stop loss or equity percent is reached. Since I cannot monitor the computer at all times, a setting to turn of trading altogether would help.
that would be very helpful
Grabbing the bull by the horns!
  • #129
  • Nov 26, 2008 8:50am Nov 26, 2008 8:50am
The account just moved up to $601.01 up another 10% of the original.

Cheers
  • #130
  • Nov 26, 2008 9:17am Nov 26, 2008 9:17am
Seems like most of you let it run longer than I do.
Had to close it all this morning due to some other private stuff. Didn't want to let it run through NY Open. Maybe I should give it a try.
Was a successful night anyway.
  • #131
  • Nov 26, 2008 9:18am Nov 26, 2008 9:18am
Quoting Toothman
I'm using 1:400 with $500, 35/20, default settings, 8PM EST-sometime before U.S. markets open. I went to bed with free margin floating as low as 1588% but got up this am. and EA doing fine now (8900%). I'm sure free margin was lower than 1588% during the night. For me, I think I'd feel alot more comfortable starting with $2000-$3000 with this EA especially since I'm running it when I'm asleep.
If you are using default settings, your initial lot size is 0.05. You can scale it down to 0.01 lot instead of increasing the starting amount by 4-5 times to $2000-3000. Just a thought.
  • #132
  • Nov 26, 2008 10:52am Nov 26, 2008 10:52am
Quoting desi
If you are using default settings, your initial lot size is 0.05. You can scale it down to 0.01 lot instead of increasing the starting amount by 4-5 times to $2000-3000. Just a thought.
Desi
That's true. Might do that when I start real money. Thanks
  • #133
  • Nov 26, 2008 12:21pm Nov 26, 2008 12:21pm
Quoting Corppu
Hi all,

Thanks to Bob for the great EA.

Does anyone know how the Account Money Protection setting works in the EA? I have not been able to get it to work. It would be nice to have a setting which would turn off the EA at stop loss or at some equity/balance level. The current settings seem to close trades and then start over if the stop loss or equity percent is reached. Since I cannot monitor the computer at all times, a setting to turn of trading altogether would help.

You have to turn Money Management ON. Then, turn on My_Money_Profit_Target with some setting that you decide. Also, You can use Account Equity Protection or Account Money Protection to pick a % or $ amount to protect. I've never used these settings as they are from the much older EA that this EA is built from, so I honestly don't know if they still work or not. They are mostly vestige lines of code. I'd recommend testing them out before going live with them.

I personally feel that using a setting like this limits the EA. The EA is designed to go a certain number of levels at a set lot size. When you cut this off for anything other than the Stop Loss, you are not letting the EA work. If your account is not large enough for the coverage that the EA needs, then you need a larger account, or you need to lower your starting lot size.

I will look at developing a simple 'turn off EA if a stoploss is hit' setting that will automatically stop the EA from making any new trades after a stoploss has been hit. No promise that bob will put it in the next version if and when I put the code together but it may be a better indicator of what you are looking for.

The largest problem with the Money Managment features of the EA is that the EA's can not talk to each other in MT4. If you were running multipule EA's on different currency pairs and you had the MM features turned on, it's likely that it would blow your account if one of the EA's tripped the 'close all trades now'. If one hit it, they would probably all hit it and close all of your trades for a loss. Hence, don't run settings that are too great for your account size; AND, I will try to implement the 'turn off at stoploss' feature for some safety.


Toothman -
Sorry, been rather busy this week. I see what it is that you want and it's actually to do if you print out a custom report using Account History. Not as fast as an indicator, I know. It will probably be next week before I can take a few hours to put it together.
  • #134
  • Nov 26, 2008 12:34pm Nov 26, 2008 12:34pm
Quoting FrostCall
I will look at developing a simple 'turn off EA if a stoploss is hit' setting that will automatically stop the EA from making any new trades after a stoploss has been hit. No promise that bob will put it in the next version if and when I put the code together but it may be a better indicator of what you are looking for.
This would be an excellent addition, thanks.
  • #135
  • Nov 26, 2008 4:17pm Nov 26, 2008 4:17pm
Rather than use a percentage that my account has increased by, I'll give the dollar figure because I'm currently going .15, and someone could go this amount on a $2,000.00 account, or a $10,000.00 account, and the percentage increase would be much different.

Using the stock setting of the EA of 35X20, my account has increased by $97.00. There was a power outage lasting 8 hours, so it's possible my increase would have been a lot more. Also, I left the EA run as I figure today will be slow with the major TG holiday tomorrow, and lots of Americans doing other things today.

VERY impressive EA. The drawdowns have been very small.
  • #136
  • Nov 26, 2008 5:14pm Nov 26, 2008 5:14pm
Quoting paradoxical
VERY impressive EA. The drawdowns have been very small.

i think thats the msot important part of this EA, the profitability is great but the drawdowns if your lot size is sensible is the best feature
Grabbing the bull by the horns!
  • #137
  • Nov 26, 2008 8:22pm Nov 26, 2008 8:22pm
No problem. I really appreciate the help. Take your time.
  • #138
  • Nov 26, 2008 8:42pm Nov 26, 2008 8:42pm
After reading this thread a couple of times, would anyone be able to clear up a question on the operation of the EA that I am still struggling with. Sorry for being a little dim, just want to make sure have it clear in my mind.

1. At a point A, price is above the D1 MA so we are initially LONG at point A
2. Price goes up 20 pips to point B. As its a 35x20 EA, we open a SHORT position
3. Price rides back down to point A, 20 pips below at which point a further LONG position is opened?
4. Price continues to ride down a further 15 pips. We are now 35 pips from point B where we went SHORT (15 pips below point A)

EA now closes all positions as the TP is hit for the SHORT trade ? We have:

Long at point A closed for loss of 15 pips
Short at point B closed for profit of 35 pips
Long at point A closed for loss of 15 pips

Obviously lots increase for each position. Is this correct

Thanks Andy.
  • #139
  • Nov 26, 2008 9:26pm Nov 26, 2008 9:26pm
Quoting drandycollings
After reading this thread a couple of times, would anyone be able to clear up a question on the operation of the EA that I am still struggling with. Sorry for being a little dim, just want to make sure have it clear in my mind.

1. At a point A, price is above the D1 MA so we are initially LONG at point A
2. Price goes up 20 pips to point B. As its a 35x20 EA, we open a SHORT position
3. Price rides back down to point A, 20 pips below at which point a further LONG position is opened?
4. Price continues to ride down a further 15 pips. We are now...
There are 2 EA's, one only open Buy orders and other only Sell orders. Both are attached to 2 seperate chatrs for the same currency pair.
Buy only EA:
If first order opened at say 'A' and price goes 20 pips down, second buy order opened at 'A-20'. If further down, third Buy order at 'A-40' and so on. Each Buy order is higher lot size than the previous order by the multiplication factor. Now when the price retraces by 35 pips at any level, profit is booked and all Buy postions closed and the EA starts all over again.
Same for Sell order EA. Both work independently of each other.
Hope this is clear.
  • #140
  • Nov 26, 2008 10:40pm Nov 26, 2008 10:40pm
Dear VERTO,

How to set "MM on, 6% risk" in MT4,I'm new hand.thank you!
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