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Trading aud/nzd successfully

  • #321
  • Dec 3, 2008 11:09pm Dec 3, 2008 11:09pm
Quoting forexisfx
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 ?
looks like a poor 3rd world note to me... you cant beat the US greens..
Grabbing the bull by the horns!
  • #322
  • Dec 3, 2008 11:13pm Dec 3, 2008 11:13pm
Quoting whitegoodman
any particular reason? it changes every few seconds or so ranging from 14-30
No idea... I'm guessing there is very little volume right now, but even in low volume ibfx normally keeps their spread fixed, who knows.
  • #323
  • Dec 3, 2008 11:17pm Dec 3, 2008 11:17pm
Quoting forexisfx
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 ?
For some that have not heard there is a rumor ?? that the USD will be changed along with Canada and Mexico to a single currency called the Amero. The problem with the rumor at this time is Canadian participation. They have no desire or political motivation to do this. The Mexicans would welcome the move but I do not think it is politically feasible in the USA at this time. The rumor has it that the money has aleady been minted and shipped to various countries around the world.

There are several problems with this theory or rumor:
1. Only the US Congress has the power to print money and they have never discussed or passed such changes. Our constitution has not been overthrown and despite the rumblings of those who believe in conspiracy theories it is strong and still working.
2. The Canadians will need to cooperate and they are in no mood to join the USA and share currencies. They very much prefer to be very independent from the USA. Just ask them they will tell you. If their leaders ever approved such a thing they probably would have a revolution. Just ask anyone from Quebec.
3. Even though we are having difficult times 20 some odd banks defaulting and unemployment rising to 6.5% does not equate a financial meltdown. Even if GM, Ford and Chrysler goes under we will still have over 90% employment and the country can run with that many people working. Does not mean easy times but they are workable problems we can solve. Our country is a long way from bankruptcy.
4. If you really want to think about the USA becoming insolvent the greater danger is going to be when all the baby boomers are retired and we dont have enough workers to support Social Security and other social services. That is where the USA has some real problems but that is 10-15 years away.
5. OK eveyone back to work.
  • #324
  • Dec 3, 2008 11:46pm Dec 3, 2008 11:46pm
Quoting nanningbob
For some that have not heard there is a rumor ?? that the USD will be changed along with Canada and Mexico to a single currency called the Amero. The problem with the rumor at this time is Canadian participation. They have no desire or political motivation to do this. The Mexicans would welcome the move but I do not think it is politically feasible in the USA at this time. The rumor has it that the money has aleady been minted and shipped to various countries around the world.

There are several problems with this theory or rumor:
1. Only the US...
It sounds logical to me. Thnx for the explanation.

Anyone have any idea why the spread range from 14 - 30 from Asia till now ? I don't think it got anything to do with volume becoz the previous US holiday, volume was low like right now and the spread change to 11 for a few hours when it reaches London session at that time
  • #325
  • Dec 3, 2008 11:47pm Dec 3, 2008 11:47pm
Quoting forexisfx
It sounds logical to me. Thnx for the explanation.

Anyone have any idea why the spread range from 14 - 30 from Asia till now ?
No idea, but I have different feeds and each feed has had an unusually high spread.
  • #326
  • Dec 3, 2008 11:51pm Dec 3, 2008 11:51pm
Quoting jtmoore007
.05

Gross Profit:2 525.62Gross Loss:1 023.71Total Net Profit:1 501.91Profit Factor:2.47Expected Payoff:6.31 Absolute Drawdown:1.00Maximal Drawdown:165.87 (2.05%)Relative Drawdown:2.05% (165.87) Total Trades:238Short Positions (won %):114 (48.25%)Long Positions (won %):124 (58.87%)Profit Trades (% of total):128 (53.78%)Loss trades (% of total):110 (46.22%)Largest[b]profit...
I've found that the maximal drawdown figure that you get in the report is often inaccurate...... that's why you either need to use the equity analyser or you need to calculate the position of the most open trades using Frostcall's spreadsheet. I prefer the latter, as the analyser is a real cpu hog and when I've got 4 accounts (3 demo 1 live) running it doesn't let anything else function. I now use it only on the 100x80 multiple currencies..... as tracking DD on that would be impossible otherwise.
As a rough guide for the 35x20 and 50x20 DD at seven levels deep would be
$50 for every 0.05 lots - so $200 for 0.2
He has the right to criticize who has the heart to help. Abraham Lincoln
  • #327
  • Dec 3, 2008 11:53pm Dec 3, 2008 11:53pm
Quoting Verto
No idea, but I have different feeds and each feed has had an unusually high spread.
It was at 20 when I checked last. My account was already up 20 bucks for the day so I dont know how much it will affect my EA. As long as we get our 35 pips it is not a profit problem but it may affect the reentries. We will monitor and see how it goes.
  • #328
  • Dec 4, 2008 12:01am Dec 4, 2008 12:01am
Quoting nanningbob
It was at 20 when I checked last. My account was already up 20 bucks for the day so I dont know how much it will affect my EA. As long as we get our 35 pips it is not a profit problem but it may affect the reentries. We will monitor and see how it goes.
I haven't noticed any changes in functionality during the increased spread times. It was slow due to low volume thus the high spread.
  • #329
  • Dec 4, 2008 12:02am Dec 4, 2008 12:02am
Quoting Mecman
I love the way ideas are shared in this thread.I just discovered that EA really work because i never believed in EA.I trade only 1min/5min on breakouts.But now i believe that EA really works.Is there any good programmer in here ?I'v got a different entry any exit strategy based on bollinger bands breakout and I trade using bollinger bands and MACD alone.I guess it's the simplest trading strategy.I have attached a trade statment.Any good programmer around to enable me create an EA for this strategy.It can make %100-%120 WORTH OF PROFIT every week....
There's a great group on yahoo called MetaTrader_Experts_and_Indicators
They are very helpful, and you are bound to find someone willing to code it for you..... you just need to be very clear about the entry and exit rules.
Good luck - Jim
He has the right to criticize who has the heart to help. Abraham Lincoln
  • #330
  • Dec 4, 2008 2:55am Dec 4, 2008 2:55am
http://www.strategybuilderfx.com/sho...15936&page=114

I was thinking the biggest problem is managing drawdown and have an idea that may lessen long term risk.

Would it be possible to program the grid to run in cycles? e.g. when total profit for a cycle is positive restart the grid at current price.

For example using usd/jpy set the center point to 105.67 using 10 pip steps you have the following levels :
1 - 105.57
2- 105.47
3 - 105.37
4 -105.27
5 - 105.17

Each level number corresponds to the number of orders we place at the respective level in the opposite direction. i.e. place buy limits on the negative side of the grid.

In this example price went to level 5 so we have the following negative positions:
1 lot x -40 = -40
2 lots x -30 = -60
3 lots x -20 = -60
4 lots x -10 = -40

1. The fifth level has 5 buys open and it retraces to level 4. We take profit for +50 and close the first level orders for -30 for a total of +20.

2. Price goes to level 3. Close the level 4 orders for +40 and level 2 orders which are now at -20. +20

At this point we've closed +40 pips and have 3 open orders at level 3. It may be appropriate to close the 3 orders at 0, reset the center point of the grid and reset the levels here. If we continue:

3. the prices goes back to level 4, 4 new buy orders are place, it goes back to level 3. The 4 orders close at +40, the level 3 orders are at 0 and close. +40




In this case if you close positions 8 and 2 at level 7 it will result in a loss. Let's consider it:
............
2 - 105.47 goes to level 7 = - 100 pips
............
7 - 104.97 = 0 pips
8 - 104.87 goes to level 7 = 80 pips

If we close 2 and 8 together we will lose 20 pips.
  • #331
  • Dec 4, 2008 3:10am Dec 4, 2008 3:10am
Quoting oahuil
http://www.strategybuilderfx.com/sho...15936&page=114

I was thinking the biggest problem is managing drawdown and have an idea that may lessen long term risk.

Would it be possible to program the grid to run in cycles? e.g. when total profit for a cycle is positive restart the grid at current price.

For example using usd/jpy set the center point to 105.67 using 10 pip steps you have the following levels :
1 - 105.57
2- 105.47
3 - 105.37
4 -105.27
5 - 105.17

Each level number corresponds to the number of orders we place...
I have gone 6 weeks without hitting a stop loss, why would I want to do this??
  • #332
  • Dec 4, 2008 3:12am Dec 4, 2008 3:12am
Quoting nanningbob
I have gone 6 weeks without hitting a stop loss, why would I want to do this??
I'm getting uncomfortably close to one right now though.
  • #333
  • Dec 4, 2008 3:37am Dec 4, 2008 3:37am
Quoting nanningbob
I have gone 6 weeks without hitting a stop loss, why would I want to do this??

I do not mean 35/20 system, I think this way,with the same account, all your system can use higher lots , and greater scope

Sorry, I was not very good English, if you can read the Chinese word, I can give you a detailed explanation.

  • #334
  • Dec 4, 2008 3:39am Dec 4, 2008 3:39am
Quoting Verto
I'm getting uncomfortably close to one right now though.
Even if u got this blow up, u still got positive profit since u started isnt it ? Relax and take a deep breath, plan ur exit. Just remember that overall, u are still winning. There is always a day like this once in a while, u can't expect to win 100%

Anyway, today is not a normal day becoz the spread run like crazy. U don't get this everyday. In fact, this is the first time i saw this range of spread running for so long. Something is going on which causes it to trend like this and the spread to run like this.
  • #335
  • Dec 4, 2008 3:41am Dec 4, 2008 3:41am
Quoting Verto
I'm getting uncomfortably close to one right now though.
I went ahead and took a loss on that trade at around 100 dollars. The TP was too far away so I waited on a retrace and bowed out. I did not restart the EA so I am out for the day. Everyone was noticing the spreads getting bigger during the day. Maybe that is a warning that price maybe dropping/rising and the banks know it so they are protecting themselves. Be interesting to see if that happens again and we know to stay out ????
  • #336
  • Dec 4, 2008 3:42am Dec 4, 2008 3:42am
Quoting oahuil

I do not mean 35/20 system, I think this way,with the same account, all your system can use higher lots , and greater scope

Sorry, I was not very good English, if you can read the Chinese word, I can give you a detailed explanation.

Go ahead and print the Chinese word. I live in Nanning and can get it translated easily.
  • #337
  • Dec 4, 2008 3:54am Dec 4, 2008 3:54am
Quoting Jim4x
I've found that the maximal drawdown figure that you get in the report is often inaccurate...... that's why you either need to use the equity analyser or you need to calculate the position of the most open trades using Frostcall's spreadsheet. I prefer the latter, as the analyser is a real cpu hog and when I've got 4 accounts (3 demo 1 live) running it doesn't let anything else function. I now use it only on the 100x80 multiple currencies..... as tracking DD on that would be impossible otherwise.
As a rough guide for the 35x20 and 50x20 DD at seven...
I found Nanningbobs ea a bit too complex for me plus I also like to know my drawdown max. My ea places the trades the same but it handles both buys and sells. Not many bells and whistles, but it does record your max drawdown and highest and lowest equity which is nice for testing purposes. I am happy to post it but this is nanningbobs thread. Send me a pm and I will send it to you if you like or send me your ea and I will add the code.
  • #338
  • Dec 4, 2008 3:57am Dec 4, 2008 3:57am
Quoting Jim4x
I've found that the maximal drawdown figure that you get in the report is often inaccurate...... that's why you either need to use the equity analyser or you need to calculate the position of the most open trades using Frostcall's spreadsheet. I prefer the latter, as the analyser is a real cpu hog and when I've got 4 accounts (3 demo 1 live) running it doesn't let anything else function. I now use it only on the 100x80 multiple currencies..... as tracking DD on that would be impossible otherwise.
As a rough guide for the 35x20 and 50x20 DD at seven...
Or add this indicator to track balance and equity
Attached File(s)
File Type: mq4 i-BalanceEquity.mq4   8 KB | 331 downloads
  • #339
  • Dec 4, 2008 4:42am Dec 4, 2008 4:42am
Quoting waltini1
Or add this indicator to track balance and equity
Thanks, I'll give it a try
He has the right to criticize who has the heart to help. Abraham Lincoln
  • #340
  • Dec 4, 2008 4:58am Dec 4, 2008 4:58am
Quoting nanningbob
Go ahead and print the Chinese word. I live in Nanning and can get it translated easily.

以您的100/40，1.5乘数，起始手数0.01，eur/jpy ，做多，为例，它现在能覆盖320点范围，就如同您说的当价格到达第7级的时候我们就要非常小心了，如果到了第8级，价格开始出现小幅回调，假设回调了40点，这时候我们不确定市场是否继续回调，继续持仓的话可能风险太大，通常做法可能是在整体帐户小额亏损或者打平的情况下全部平仓，以防止的死亡交易。那么，第8级是0.27 lots，回调40点，利润是0.27*40*1=10.8 美元；这时第7级是 0 美元，第4级0.05lots是 -6美元 ，第6级0.12lots是 -4.8美元
那么这时候，同时平掉第8级，第2级，第5级,其他级别的仓位保留，这样总体可以释放0.44 lots,同时获得，10.8 - 6- 4.8 =0 美元收益，这时如果价格在第7级别开始继续向下，那么再次到了第八级别我们建仓的手数就会小很多，也就能够杠住第8级别继续向下了，甚至在第9级继续建仓。
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