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Trading aud/nzd successfully

  • #401
  • Dec 6, 2008 2:36am Dec 6, 2008 2:36am
Please focus on discussing the strategy.
I hope I'll encounter the worst case scenario next week on my demo. This
might sound odd but I don't want to go live without witnessing
a veeeery bad week. I have to be prepared for the worst and expect the best. I'll have multiple demos with different balances and settings running to get a better understanding of the EA.

Thursday and Friday have been pretty rough still the EA managed to perform very well. If that's the worst thing that
could happen....
  • #402
  • Dec 6, 2008 3:06am Dec 6, 2008 3:06am
Quoting toyoproxo
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
I am sorry too. I used your post for a jumping off point, did not mean to criticize you at all. Back to work.
  • #403
  • Dec 6, 2008 3:09am Dec 6, 2008 3:09am
Quoting Tjpld
Please focus on discussing the strategy.
I hope I'll encounter the worst case scenario next week on my demo. This
might sound odd but I don't want to go live without witnessing
a veeeery bad week. I have to be prepared for the worst and expect the best. I'll have multiple demos with different balances and settings running to get a better understanding of the EA.

Thursday and Friday have been pretty rough still the EA managed to perform very well. If that's the worst thing that
could happen....
I dont, I am in the contest and need the worst week ever. A bad week would be getting stopped out. I talked to my friend who has run it 24/7 for 5 weeks. His worst week is when he got stopped out twice and ended -30 in the whole for the week. He has had two weeks over 500 for his best. So I guess that is the best we can report to you for now.
  • #404
  • Dec 6, 2008 3:24am Dec 6, 2008 3:24am
Quoting nanningbob
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.
Last week I ran 50x20 and 35x20 demo non-stop, both made just over $160. I also ran 35x20 live, but opening around 01.00 and closing at a retrace between 14.00 & 17.00 GMT that made just $50

This week I wasn't able to run live, so just ran 35x20 demo non-stop, it made $60 - no interventions no close downs, std settings... IBFX.
It went 8 deep once, 7 twice and 6 thrice.

Bob, you must have a number of additional extras running on your account to have such a big week!

I want to run my live acct. 24/5 but have discovered this week that my mobile always on internet connection sometimes loses traffic but doesn't disconnect (it's set for unlimited reconnects) - (we have broadband but it's very unreliable here in rural India), so I'm not gonna run it whilst I sleep...... anyone have any more info on hosted options? Someone mentioned $20 a month..... but never clarified the details.

100x80 results on that thread.
Cheers, Jim
He has the right to criticize who has the heart to help. Abraham Lincoln
  • #405
  • Dec 6, 2008 4:07am Dec 6, 2008 4:07am
Quoting Jim4x
Last week I ran 50x20 and 35x20 demo non-stop, both made just over $160. I also ran 35x20 live, but opening around 01.00 and closing at a retrace between 14.00 & 17.00 GMT that made just $50

This week I wasn't able to run live, so just ran 35x20 demo non-stop, it made $60 - no interventions no close downs, std settings... IBFX.
It went 8 deep once, 7 twice and 6 thrice.

Bob, you must have a number of additional extras running on your account to have such a big week!

I want to run my live acct. 24/5 but have discovered this week that my mobile...
I use a VPN here in China and that helps a great deal with my internet connections. Also, you must understand I dont give away everyone of my secrets but only post what seems to work over a period of time. I am using numbers that only experienced traders should use. If I posted some of this stuff people would bomb out their accounts in no time.
  • #406
  • Dec 6, 2008 7:26am Dec 6, 2008 7:26am
Quoting Zorro's Mask
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.
Ah, OK. So you just download the installer and install it multiple times, each into its own folder? Very clever.

I'm a software guy and didn't think of this; it's embarrassing!

So to trade this bi-directionally, you not only need 2 IBFX instances running but also 2 separate accounts?
You are in a maze of twisty little passages, all alike.
  • #407
  • Dec 6, 2008 8:01am Dec 6, 2008 8:01am
When using FrostCall's spreadsheet, can someone explain the ratio part of it? If the ratio value is 17:43 does that mean you are risking $17 to make $43? What would be considered a good ratio value? Thanks
  • #408
  • Dec 6, 2008 9:58am Dec 6, 2008 9:58am
Hi all,

Great idea from nanningbob. To make trading in similar fashion easier everyone may have a look at this particular EA which I got from another forum.

This EA executes both buy and sell orders and has host of other features too.

Hope this EA too helps everybody.

Happy trading!!!

Attached File(s)
File Type: mq4 Bless.FifthE.TK.2.0.1.mq4   20 KB | 332 downloads
  • #409
  • Dec 6, 2008 10:43am Dec 6, 2008 10:43am
Quoting Toothman
When using FrostCall's spreadsheet, can someone explain the ratio part of it? If the ratio value is 17:43 does that mean you are risking $17 to make $43? What would be considered a good ratio value? Thanks
It is the RATIO of Profit to DD at Max level trade . So first part has to be as high as possible as considering coverage of EA.

Maximum DD and coverage are the two main aspects for safety of your account. Ensure that profit figure is positive.
"Put all your efforts in becoming effortless"
  • #410
  • Dec 6, 2008 12:43pm Dec 6, 2008 12:43pm
Quoting stevegee58
Ah, OK. So you just download the installer and install it multiple times, each into its own folder? Very clever.

I'm a software guy and didn't think of this; it's embarrassing!

So to trade this bi-directionally, you not only need 2 IBFX instances running but also 2 separate accounts?
No, you only need one account and one instance of MT4 platform for trading bi-directionally. You just need two seperate charts for the same currency pair, one for 'Buy EA' and other for 'Sell EA'.
Hope this clarifies your question.
  • #411
  • Edited 1:15pm Dec 6, 2008 1:05pm | Edited 1:15pm
Quoting Jim4x
I want to run my live acct. 24/5 but have discovered this week that my mobile always on internet connection sometimes loses traffic but doesn't disconnect (it's set for unlimited reconnects) - (we have broadband but it's very unreliable here in rural India), so I'm not gonna run it whilst I sleep...... anyone have any more info on hosted options? Someone mentioned $20 a month..... but never clarified the details.
Cheers, Jim
Hi Jim,
You said you are in rural India, but the country on your profile mentioned is UK. Anyway here are links for some of the VPS companies.

http://order.1and1.com/xml/order/Vps...D081ADA8.TC60b

http://www.emcwebhosting.com/vps_hosting_windows.php

http://swvps.com/windows-vps.html

http://www.vpsland.com/ezwin.html

I am not on VPS currently, but planning to do so. Let me know if you select one and its performance.
Happy trading.
  • #412
  • Dec 6, 2008 2:00pm Dec 6, 2008 2:00pm
Quoting desi
No, you only need one account and one instance of MT4 platform for trading bi-directionally. You just need two seperate charts for the same currency pair, one for 'Buy EA' and other for 'Sell EA'.
Hope this clarifies your question.
I've never worked with a broker before that allowed you to be both long and short in the same account, that's all. For instance, suppose you're long 1 lot EURUSD and you then go short 1 lot EURUSD; I'd expect to have the original long position closed by doing this.
You are in a maze of twisty little passages, all alike.
  • #413
  • Dec 6, 2008 3:05pm Dec 6, 2008 3:05pm
Quoting Jim4x
Last week I ran 50x20 and 35x20 demo non-stop, both made just over $160. I also ran 35x20 live, but opening around 01.00 and closing at a retrace between 14.00 & 17.00 GMT that made just $50

This week I wasn't able to run live, so just ran 35x20 demo non-stop, it made $60 - no interventions no close downs, std settings... IBFX.
It went 8 deep once, 7 twice and 6 thrice.

Bob, you must have a number of additional extras running on your account to have such a big week!

I want to run my live acct. 24/5 but have discovered this week that my mobile...

What lot size are you using? I am using .05 lots on a $2,000 live account. I too have not been getting good results since going live. My account sits at $2055 so I am still ahead. I stay out of the USA session. What I do not understand is I tested this on demo for 2 days and it made a total of $100 in 2 days. I then went live and I am lucky to make $5-$10 a day using .05.
  • #414
  • Dec 6, 2008 3:14pm Dec 6, 2008 3:14pm
If you made 100$ yesterday what should ensure that you make another 100$ the next day? Everyday is different.
  • #415
  • Dec 6, 2008 3:22pm Dec 6, 2008 3:22pm
Quoting stevegee58
I've never worked with a broker before that allowed you to be both long and short in the same account, that's all. For instance, suppose you're long 1 lot EURUSD and you then go short 1 lot EURUSD; I'd expect to have the original long position closed by doing this.
You need a broker who allows hedging, i.e, buy and sell postions simultaneously.
  • #416
  • Dec 6, 2008 3:32pm Dec 6, 2008 3:32pm
Quoting stevegee58
I've never worked with a broker before that allowed you to be both long and short in the same account, that's all. For instance, suppose you're long 1 lot EURUSD and you then go short 1 lot EURUSD; I'd expect to have the original long position closed by doing this.
IBFX allows you to hedge as well as some other mt4 brokers.
  • #417
  • Dec 6, 2008 6:47pm Dec 6, 2008 6:47pm
Quoting nanningbob
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.

Bob, do you think this new 35x25 ea will be able to run 24/5?
  • #418
  • Dec 6, 2008 7:51pm Dec 6, 2008 7:51pm
Quoting toyoproxo
What lot size are you using? I am using .05 lots on a $2,000 live account. I too have not been getting good results since going live. My account sits at $2055 so I am still ahead. I stay out of the USA session. What I do not understand is I tested this on demo for 2 days and it made a total of $100 in 2 days. I then went live and I am lucky to make $5-$10 a day using .05.
There are two things affecting profit that was not happening earlier.

1. The value of the Aud compared to the dollar has gone down. There was a point where the AUD was .80 or more to the dollar. Now it is closer to .60 so that decreased the profit. You can adjust for that by increasing you lots or multiplication.

2. It is obvious the spread has increased and that really affects profitability. How long or how much this will continue is anyones guess. Obviously it is harder to profit from 20-40 pip spreads than the 11-15 it used to be. We will have to monitor the situation and see how it goes.

The good news is even with these wider spreads the EA is profitable. I am going to redemo my 50x13 in this market and see if it gives better profit with wider spreads. That means 4 levels profit instead of two like the 35x20 and 35x25.

Again as the market changes so do we. The beauty and frustration of trading is the market is never the same, it is very dynamic. I love the challenge but I also want to consistently make money.
  • #419
  • Dec 6, 2008 7:52pm Dec 6, 2008 7:52pm
Quoting toyoproxo
Bob, do you think this new 35x25 ea will be able to run 24/5?
I think it is possible. The stop loss is still the same but its reentries are a little wider. This also allows me to increase the multiplication. The last 3 weeks it would not have hit its stop loss. I would watch out during the AUD NZD sessions when they have big news stories. I went 3 days into the USA session this last week and had some scary times but it worked.

I talked to my friend who is using a 50x20 and running it 24/5 and he installed a 280 stop loss. He said it is not even getting close to the stop loss but he plays with thousands of dollars and can afford the deep DD.
  • #420
  • Dec 6, 2008 7:59pm Dec 6, 2008 7:59pm
Quoting nanningbob
There are two things affecting profit that was not happening earlier.

1. The value of the Aud compared to the dollar has gone down. There was a point where the AUD was .80 or more to the dollar. Now it is closer to .60 so that decreased the profit. You can adjust for that by increasing you lots or multiplication.

2. It is obvious the spread has increased and that really affects profitability. How long or how much this will continue is anyones guess. Obviously it is harder to profit from 20-40 pip spreads than the 11-15 it used to be. We will...

Thanks again Bob. It is becoming very clear to me that although it is possible to make money in forex, it is not an easy task. I have the 35x25 ready to go, I will report back how it went at the end of next week.
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