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Trading aud/nzd successfully

  • #301
  • Dec 3, 2008 3:39pm Dec 3, 2008 3:39pm
Quoting IamTHAT
This can be damaging sometimes I found out today. My 7th level Sell trade closed out on reaching TP, but when other sell trades in the line started closing one by one, there was a spurt and the end result was a loss. This is peculiar to aud/nzd..
I am thinking whether to stop EA for a moment in such cases and close remaining trades manually.
I thought about that to, but the key factors are that you won't always be around and anything past a 5 level trade should start to be thought of as a loss. The day that I switched into that mindset was the day my profits seemed to take off.
  • #302
  • Dec 3, 2008 3:41pm Dec 3, 2008 3:41pm
Quoting toyoproxo
Looks like there was absolutely zero movement today on the Aud/nzd.
It wasn't as busy as I liked so I ran a little into us session and ended up about 250$. Not a bad day.
  • #303
  • Dec 3, 2008 4:02pm Dec 3, 2008 4:02pm
Verto, two questions.
1.) How did you end up with plus $250.00 today? I traded at .10, and got about $50.00.
2.) You seem to close out before the seventh level is hit. Why not just set the EA to go no more than 6 levels?
Quoting Verto
I thought about that to, but the key factors are that you won't always be around and anything past a 5 level trade should start to be thought of as a loss. The day that I switched into that mindset was the day my profits seemed to take off.
  • #304
  • Edited 4:23pm Dec 3, 2008 4:07pm | Edited 4:23pm
Quoting paradoxical
Verto, two questions.
1.) How did you end up with plus $250.00 today? I traded at .10, and got about $50.00.
2.) You seem to close out before the seventh level is hit. Why not just set the EA to go no more than 6 levels?
1) thats all my accounts combined... one account got me about 100ish the others that trade .10 and .15 got close to 50ish-70ish
respectivly..
edit: Since I know there will probarly be a question, my main account runs my 50x20 setting 24/5 and 35x20 during tokyo-us open-mid us session. The others just run 50x20.


2) Well... not ALWAYS, I think this morning or a couple days ago it reached the 7th level and I let it come back and hit tp. It all depends on how I feel the chances of the EA trades coming back to hit tp are. There have been times when I'll close and sure enough it comes right back leaving me feeling stupid, but I'd rather take the 60-70$ hit than the 450$ one the one time I stop a stoploss hit. haha. That is just my personality. Plus, my number one rule is protecting my capital.
  • #305
  • Dec 3, 2008 4:13pm Dec 3, 2008 4:13pm
Thanks. Just what I was looking for.

Quoting toyoproxo
Account equity analzyer
  • #306
  • Dec 3, 2008 4:40pm Dec 3, 2008 4:40pm
Thanks Verto, which one does better? The 50X20, or 35X20?
For the 50X20, do you just change the settings on the 35X20 to a TP of 50, and a level of 1.3 on the progression?
Quoting Verto
1) thats all my accounts combined... one account got me about 100ish the others that trade .10 and .15 got close to 50ish-70ish
respectivly..
edit: Since I know there will probarly be a question, my main account runs my 50x20 setting 24/5 and 35x20 during tokyo-us open-mid us session. The others just run 50x20.


2) Well... not ALWAYS, I think this morning or a couple days ago it reached the 7th level and I let it come back and hit tp. It all depends on how I feel the chances of the EA trades coming back to hit tp are. There have been times when...
  • #307
  • Dec 3, 2008 4:44pm Dec 3, 2008 4:44pm
Quoting paradoxical
Thanks Verto, which one does better? The 50X20, or 35X20?
For the 50X20, do you just change the settings on the 35X20 to a TP of 50, and a level of 1.3 on the progression?
Yeah, pretty much and I change the levels to 9 along with a higher stoploss at 250.

They both work differently... there isn't a 'better' 50x20 just covers a little more range so I'm more comfortable keeping it open more. 35x20 is more suited for a more fast paced enviroment if you ask me.
  • #308
  • Dec 3, 2008 4:48pm Dec 3, 2008 4:48pm
Thanks for the quick answer. I'll give it a whirl.
Quoting Verto
Yeah, pretty much and I change the levels to 9 along with a higher stoploss at 250.

They both work differently... there isn't a 'better' 50x20 just covers a little more range so I'm more comfortable keeping it open more. 35x20 is more suited for a more fast paced enviroment if you ask me.
  • #309
  • Dec 3, 2008 5:49pm Dec 3, 2008 5:49pm
Quoting Mecman
urbanfx is it possible to use 1:200 leverage on a 250 account to run this EA ?
Understanding how leverage works will help answer your question. I started the IBFX contest with 260 dollars and 400:1 leverage. High risk/high reward. My leverage usage has been around the 50 dollars or less range. Now if you use 200:1 it means you will be in the 100 dollar usage range. If you have 100:1 you will be in the 200 usage range. Margin only becomes important if you dont have enough funds to cover your trading. The amount of profit or how far you go in the hole stays the same.

For example, if I am 400:1 and my deficit on a trade goes to -120, my margin usage maybe around 50 dollars. If price turns around, I may make 20 dollars profit. If I use 200:1 all the numbers stay the same but my margin usage would be 100 dollars. The deficits and profit stay the same. 100:1 will use 200 dollars of your margin and makes it very difficult to trade with 250 dollars and this system. You may try on a demo and see if 200:1 will work. I think it is possible with smaller lot sizes, less than .05 on a micro (penny) account. Impossible with a standard or mini account
  • #310
  • Dec 3, 2008 6:47pm Dec 3, 2008 6:47pm
Quoting Verto
1) thats all my accounts combined... one account got me about 100ish the others that trade .10 and .15 got close to 50ish-70ish
respectivly..
edit: Since I know there will probarly be a question, my main account runs my 50x20 setting 24/5 and 35x20 during tokyo-us open-mid us session. The others just run 50x20.


2) Well... not ALWAYS, I think this morning or a couple days ago it reached the 7th level and I let it come back and hit tp. It all depends on how I feel the chances of the EA trades coming back to hit tp are. There have been times when...
What's the equity for each of the account mention above ?
  • #311
  • Dec 3, 2008 6:53pm Dec 3, 2008 6:53pm
Quoting forexisfx
What's the equity for each of the account mention above ?
Currently: Main account is 4,234.52$ and the other two are 1,345.04$ as well as 1,820.23$
  • #312
  • Dec 3, 2008 7:08pm Dec 3, 2008 7:08pm
Quoting Verto
Yeah, pretty much and I change the levels to 9 along with a higher stoploss at 250.

They both work differently... there isn't a 'better' 50x20 just covers a little more range so I'm more comfortable keeping it open more. 35x20 is more suited for a more fast paced enviroment if you ask me.
Verto,

Thanks for sharing the settings. I get the impression that you are conservative with risk (your profile says 6%) with the 50x20 & 35x20.
If so, 6% risk is pretty good for martingale systems (albeit modified).

If you don't mind answering, what kind of performance are you getting percentage wise per week?

Thanks,
JoeQ
  • #313
  • Dec 3, 2008 7:12pm Dec 3, 2008 7:12pm
Quoting JoeQuant
Verto,

Thanks for sharing the settings. I get the impression that you are conservative with risk (your profile says 6%) with the 50x20 & 35x20.
If so, 6% risk is pretty good for martingale systems (albeit modified).

If you don't mind answering, what kind of performance are you getting percentage wise per week?

Thanks,
JoeQ
Hmm... That is a little hard to get an exact figure for you because the results differ from month to month. Last month though, which was a very good month for this EA, I averaged about about 7% each week.
  • #314
  • Dec 3, 2008 7:13pm Dec 3, 2008 7:13pm
Quoting paradoxical
See my post #258 for an actuasl experience of being stopped out on the EUR/GBP. Once that number one trade hits the 200 pip stop, all trades are closed.
Thanks Paradoxical.
  • #315
  • Dec 3, 2008 7:34pm Dec 3, 2008 7:34pm
Quoting Verto
It wasn't as busy as I liked so I ran a little into us session and ended up about 250$. Not a bad day.

I do not understand what you are saying here? I remember you said earlier you run the ea 24/5.
  • #316
  • Dec 3, 2008 7:35pm Dec 3, 2008 7:35pm
Quoting toyoproxo
I do not understand what you are saying here? I remember you said earlier you run the ea 24/5.
50x20 yes... not 35x20... I run both on my account. Sorry if I confused you. I edited my comment on my page to reflect this.
  • #317
  • Dec 3, 2008 9:28pm Dec 3, 2008 9:28pm
Something out of topic. A few weeks ago, i was asking if anyone know of the new currency Amero replacing USD. I saw this on the net today. Any comments ?
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  • #318
  • Dec 3, 2008 11:05pm Dec 3, 2008 11:05pm
anyone else experiencing 30 pip spread on ibfx atm?
Grabbing the bull by the horns!
  • #319
  • Dec 3, 2008 11:07pm Dec 3, 2008 11:07pm
Quoting whitegoodman
anyone else experiencing 30 pip spread on ibfx atm?
Yeah its been pretty variable for the past few hours on all the different platforms I trade/demo on.
  • #320
  • Dec 3, 2008 11:08pm Dec 3, 2008 11:08pm
Quoting Verto
Yeah its been pretty variable for the past few hours on all the different platforms I trade/demo on.
any particular reason? it changes every few seconds or so ranging from 14-30
Grabbing the bull by the horns!
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