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Trading aud/nzd successfully

  • #381
  • Dec 5, 2008 8:22am Dec 5, 2008 8:22am
Quoting Tjpld
Psssst it's a conspiracy.

Question: How would you trade multiple InterbankFX Accounts with this EA at once?
Since you can run only one instance of metatrader I see a problem there? Multiple PCs?

Balance now 653. Started with 500.
+50$ First Week
+103$ This week sofar.

You can run multiple instances, but you have to download the platform and change the file folder name for it to work. I have two instances of MT4 open now on my computer, both downloaded from IBFX.
Zorro...
  • #382
  • Edited 8:55am Dec 5, 2008 8:22am | Edited 8:55am
Ok, I am off to the races in the IBFX contest. Started Monday with 260 in my account and increased it 79% the first week. Tuesday and Thursday I cut trades short and you can see both dips on those. Interesting though is that both trades would have worked with out my interference. To cover such trades I am changing to the 35x25 because it will give me an extra level and more range so I dont have to cut trades short next week. Here is my live trading report for the week. The 35x25 is posted in #1 for you to try.
Attached Image (click to enlarge)
Click to Enlarge Name: 35x20 contest.gif Size: 5 KB
  • #383
  • Dec 5, 2008 8:43am Dec 5, 2008 8:43am
Here is the entire week for the aud/nzd. Notice it stayed in the move 3 lines max and then retrace mode all week. I closed out on one when it retraced for a loss but I didnt need to. However, I never feel bad about protecting my account. It took me about 24 hours to get my loss back. I am going to make one change to the EA and will post it on the first post. I am changing it to a 35x25, and increasing the multiplication. This will give it a wider spread on the reentries and give a bigger range. As some people noticed it went 7 levels deep several times and we really dont want it to do that. Increasing the reentry from 20-25 will help in this area. I also included the excell program showing the new stop loss and profit numbers. Even though the ea is set for .05 lots the excel program is set for .03 because the AUD/NZD trades at about 60% of 1.00. This will be closer to your actual figures you will see in your closed trades.
Attached Image (click to enlarge)
Click to Enlarge Name: aud--nzd week.gif Size: 20 KB
  • #384
  • Dec 5, 2008 8:57am Dec 5, 2008 8:57am
Quoting IamTHAT
When we have unreasonable expectation, all these doubts arise. I know it can produce 5-10% in a day on an normal day, and I want it to be that way forever! Few of the lessons I learnt are:

1) No point sitting in front of screen and waiting impatiently waiting for things to happen. No use fiddling with your settings frequently.
2) Close you positions and start afresh whenever possible if you are profitable on the whole, so that you will be at the latest range on the chart.
Great answer!! You got it.
  • #385
  • Dec 5, 2008 9:01am Dec 5, 2008 9:01am
Quoting Tjpld
Psssst it's a conspiracy.

Question: How would you trade multiple InterbankFX Accounts with this EA at once?
Since you can run only one instance of metatrader I see a problem there? Multiple PCs?

Balance now 653. Started with 500.
+50$ First Week
+103$ This week sofar.
Since each account would use different trade numbers they would not interfere with each other. If you are not sure just change the magic numbers in the code and they would be completely different. I have run as many as 8 MT4s on my computer at once but I try to keep it around 3 or 4 now. 2-3 will be live and 1 or 2 I will demo an idea I have. I am finishing up my conclusions of the 100x80 and hope to start using that live soon also.
  • #386
  • Edited 2:30pm Dec 5, 2008 2:01pm | Edited 2:30pm
Quoting nanningbob
Here is the entire week for the aud/nzd. Notice it stayed in the move 3 lines max and then retrace mode all week. I closed out on one when it retraced for a loss but I didnt need to. However, I never feel bad about protecting my account. It took me about 24 hours to get my loss back. I am going to make one change to the EA and will post it on the first post. I am changing it to a 35x25, and increasing the multiplication. This will give it a wider spread on the reentries and give a bigger range. As some people noticed it went 7 levels deep several...
What did you change the multi and stoploss to?

edit: I just saw the attached zip file on page 1. Sorry about the silly question.
  • #387
  • Dec 5, 2008 2:08pm Dec 5, 2008 2:08pm
Quoting nanningbob
Since each account would use different trade numbers they would not interfere with each other. If you are not sure just change the magic numbers in the code and they would be completely different. I have run as many as 8 MT4s on my computer at once but I try to keep it around 3 or 4 now. 2-3 will be live and 1 or 2 I will demo an idea I have. I am finishing up my conclusions of the 100x80 and hope to start using that live soon also.
Thanks for your insight. Learning something new everyday.
I'd never have thought that I'd be that impressed by an EA.
You really did a great job there.

I'm running 3 demos now. Maybe not ideal to start the new demos on a Friday afternoon. But they already made some profit.
The only drawback is when all MT4s go like INCOMING MAIL INCOMING MAIL INCOMING INCOME INCOMING MAIL.
  • #388
  • Dec 5, 2008 2:26pm Dec 5, 2008 2:26pm
Quoting Tjpld
Thanks for your insight. Learning something new everyday.
I'd never have thought that I'd be that impressed by an EA.
You really did a great job there.

I'm running 3 demos now. Maybe not ideal to start the new demos on a Friday afternoon. But they already made some profit.
The only drawback is when all MT4s go like INCOMING MAIL INCOMING MAIL INCOMING INCOME INCOMING MAIL.
You can mute all sounds by going tools -> options -> events - > uncheck enable all sounds... or by crtl+o -> events -> uncheck enable

And if you really want sounds just leave one platform with it enabled. etc.
  • #389
  • Dec 5, 2008 3:04pm Dec 5, 2008 3:04pm
Quoting jtmoore007
you don't really believe this do you? there are about less than 100 people in here following this and out of that i bet only a handful are live with it. if you think that makes any difference in the market at all you are wrong. i know they say that every penny affects the market - whatever - we don't mean crap.

and if you think all the brokers are out there reading public forums and Say OH SHI* they found a good one boys - LETS SCREW EM, there is an astrological trading method thread on here I think you would be interested in

Hello
I am not here to damage sentiment of this thread, and thread member.
If you read my message carefully ..you will come to know, i convey message as trading method discuss in this thread works, so be happy.

nanningbob taken great efforts to discuss trading AUD/NZD,

I am trading this pair long before start of this thread.
Key aspect is , How you limit your risk when AUD/NZD hit's you when it makes big move and trade is on wrong side. if you limit this Hit,,This pair will recover all loss and give you nice $$$
  • #390
  • Dec 5, 2008 4:26pm Dec 5, 2008 4:26pm
Quoting ramdas
Spread widen on AUD/NZD like crazy...????????
You got the way to make money...you discuss in public forum....open all
secret.. and.......Market /broker start watching it and will start working against you.....they try to find way to kill what is working

If you want to discuss some system which is making money..create private forum and discuss in limited people...you can create free private forum and give access to people who are realy interested and keep system secret.

This is just a silly notion... spreads were widen on all platforms. Including ECNs, I hate to break it to you but I very well doubt that ALL brokers are out to get the ten or so of us that are probarly live. If so, I'd say bravo to nanningbob for figuring out a way to make every single broker out there worried.
  • #391
  • Dec 5, 2008 4:38pm Dec 5, 2008 4:38pm
Quoting Verto
This is just a silly notion... spreads were widen on all platforms. Including ECNs, I hate to break it to you but I very well doubt that ALL brokers are out to get the ten or so of us that are probarly live. If so, I'd say bravo to nanningbob for figuring out a way to make every single broker out there worried.

The brokers want people to trade this pair. They make a fortune since the spread on Aud/Nzd is ridiculously high. Another thing I should add is broker do not care if you make money since they also make money whether you win or lose.
  • #392
  • Dec 5, 2008 6:20pm Dec 5, 2008 6:20pm
The spread was at 20 today, and is seeming to settle at 16. I wonder if it might stay there, and if so, would this system still work at 16?
  • #393
  • Dec 5, 2008 6:48pm Dec 5, 2008 6:48pm
Quoting toyoproxo
The brokers want people to trade this pair. They make a fortune since the spread on Aud/Nzd is ridiculously high. Another thing I should add is broker do not care if you make money since they also make money whether you win or lose.
It is amazing how much broker bashing goes on here. Obviously there are the scam artists but the big successful companies dont care about us small fries. They just throw us into a computer program and have no idea whether we exist or not.

To me the increasing and decreasing of the spread shows me that a company is legitimate. That is what happens in the real world, market conditions would dictate that it would happen. It is logical for companies to pass on the risk of trading to its customers not for them to take the risk for you. A real company when its spread is increased is only trying to protect itself from three main problems they face:

1. Increases coming from the banks they deal with. Banks are going to cover their butts when the market gets volatile, I mean, why are they going to take a hit for you? Banks are going to increase their spread, they are out to make money so the broker must respond in kind.

2. Unfairness of computer speeds and servers. I noticed if I was patient some companies computer feeds are faster than others. I could watch one company's price go down and then 10-15 seconds later another company would follow. You could trade this and make a killing. IBFX protects itself by increasing the spread during news times so you cant get away with it.

3. But the one thing many traders dont understand is you have to have a buyer on the other end for your trade to work. I mean it is called trading, if you do a sell someone else needs to do a buy. Those of us with microlots, IBFX has to take the other side of the trade or they have to batch a bunch of orders to create one order they can put on the market. This can take time, nano seconds in a computer program but it does take time. The market can move quickly even in a nano second. If the computer takes a couple of seconds to batch your orders with others to make a live trade, the amount of money needed can be very large.

Remember you are trading on margin and only have 1% or so of your money on the line. The broker has the other 99%, IT IS STUPID TO THINK, that the broker is going to risk his 99% for you. If I had to trade covering all the money needed I could not trade. Some of you morons need to write a thank you letter to your broker for letting you trade with 10 of thousands of dollars with only 500 bucks. Without them putting up their money you could not trade. I dont think the vast majority of traders understand this. I think it is FANTASTIC that this week I gave IBFX 260 dollars and now I have 470 because they allow me to trade thousands and thousands of dollars of THEIR MONEY AND THE BANK'S MONEY to do this.
  • #394
  • Dec 5, 2008 7:14pm Dec 5, 2008 7:14pm
I'd like to thank IBFX [edit] AND Bob for
1) sending me [allowing me to use his EAs to earn] a check for 3k
and
2) letting me trade the remainder of my account for much more than it is worth.

Graph for the week:
Attached Image (click to enlarge)
Click to Enlarge Name: 1stweekofdec.gif Size: 6 KB
  • #395
  • Dec 5, 2008 11:04pm Dec 5, 2008 11:04pm
Quoting nanningbob
It is amazing how much broker bashing goes on here. Obviously there are the scam artists but the big successful companies dont care about us small fries. They just throw us into a computer program and have no idea whether we exist or not.

To me the increasing and decreasing of the spread shows me that a company is legitimate. That is what happens in the real world, market conditions would dictate that it would happen. It is logical for companies to pass on the risk of trading to its customers not for them to take the risk for you. A real company...
Nanningbob,

I think you misinterpreted what I was saying. I was not bashing IBFX or any other broker. I am with IBFX myself. I was just stating the fact that they make more money on aud/nzd than the majors because it's spread is much higher. That is all.

cheers
  • #396
  • Dec 5, 2008 11:11pm Dec 5, 2008 11:11pm
Quoting Verto
I'd like to thank IBFX [edit] AND Bob for
1) sending me [allowing me to use his EAs to earn] a check for 3k
and
2) letting me trade the remainder of my account for much more than it is worth.

Graph for the week:
I am glad to see you are doing well. Hope that turns into $10,000 soon
  • #397
  • Dec 5, 2008 11:21pm Dec 5, 2008 11:21pm
Quoting toyoproxo
Nanningbob,

I think you misinterpreted what I was saying. I was not bashing IBFX or any other broker. I am with IBFX myself. I was just stating the fact that they make more money on aud/nzd than the majors because it's spread is much higher. That is all.

cheers
I dont understand, what did my comments have to do with anything you said??? I actually agreed with you.
  • #398
  • Dec 5, 2008 11:22pm Dec 5, 2008 11:22pm
Quoting toyoproxo
I am glad to see you are doing well. Hope that turns into $10,000 soon
I do to!

I don't think bob was talking about anything you said. He was just saying that in general there are a lot of people on Forex Factory that are broker bashers. You just so happen to be the one with the last reply involving a broker.
  • #399
  • Dec 5, 2008 11:51pm Dec 5, 2008 11:51pm
Quoting Verto
I do to!

I don't think bob was talking about anything you said. He was just saying that in general there are a lot of people on Forex Factory that are broker bashers. You just so happen to be the one with the last reply involving a broker.
yeh the notion that a broker is 'chasing stops' is absurd, we are very small fish in an ocean, its not even worth their time
Grabbing the bull by the horns!
  • #400
  • Dec 6, 2008 12:06am Dec 6, 2008 12:06am
Quoting nanningbob
I dont understand, what did my comments have to do with anything you said??? I actually agreed with you.

I was referring to the thread earlier that was posted with my quote which you
had said that it is crazy how much broker bashing is going on. I thought you were referring to me since my quote was posted. I was not upset but just wanted to clarify is all. I am very sorry Bob, total misunderstanding completely. I have much respect for you for making this system and freely giving it out to all of us members.

cheers
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