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Trading aud/nzd successfully

  • #421
  • Dec 6, 2008 6:00pm Dec 6, 2008 6:00pm
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.
One more thing. If you are using .05 because of the exchange rate that is the same as .03 in real money. You may want to increase to .10 or .15. Check with Frost Calls Excel program and find out what DD you are comfortable with. If you want to play .10 put in .06 to get the real figures you will see live in the account.
  • #422
  • Dec 6, 2008 6:08pm Dec 6, 2008 6:08pm
Quoting nanningbob
One more thing. If you are using .05 because of the exchange rate that is the same as .03 in real money. You may want to increase to .10 or .15. Check with Frost Calls Excel program and find out what DD you are comfortable with. If you want to play .10 put in .06 to get the real figures you will see live in the account.

Ok, one other thing. I just loaded up the 35/25 ea and noticed the stop loss is still set at 200. Are we supposed to change that to 210 or some other figure?
  • #423
  • Dec 6, 2008 6:10pm Dec 6, 2008 6:10pm
Quoting toyoproxo
Ok, one other thing. I just loaded up the 35/25 ea and noticed the stop loss is still set at 200. Are we supposed to change that to 210 or some other figure?
Sorry thanks for pointing that out. It is up to you but that is what I want to use.
  • #424
  • Dec 7, 2008 12:21am Dec 7, 2008 12:21am
Quoting desi
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.
That's very helpful, thanks - I'll let you know how I get on.
I'm from the UK, but spending a year or so in India living a slow rural life with my wife and 2 young sons..... it's a kind of sabatical that's providing plenty of time to study Forex. We're having such a good time that we may not go back to the UK next year as planned
I guess from your username that you are an Indian living in Canada?
He has the right to criticize who has the heart to help. Abraham Lincoln
  • #425
  • Dec 7, 2008 12:40am Dec 7, 2008 12:40am
Quoting Jim4x
That's very helpful, thanks - I'll let you know how I get on.
I'm from the UK, but spending a year or so in India living a slow rural life with my wife and 2 young sons..... it's a kind of sabatical that's providing plenty of time to study Forex. We're having such a good time that we may not go back to the UK next year as planned
I guess from your username that you are an Indian living in Canada?

Yes, your guess is correct.
Cheers!
  • #426
  • Dec 7, 2008 6:16pm Dec 7, 2008 6:16pm
I've been trading 35x20 for 2 weeks now. I start the EA after 7pm EST on Sunday and let run till 3:30 or so on Friday. I tested during NFP just to see what it would do.

I'm trading .1 lots instead of .05. This past week, I added EUR/GBP and AUD/CAD. So, far (cross my fingers), I have not hit a stop loss.

Going live this week with 35x25 on those three pairs at .1 lots each. Multiplication factor. 1.8.

Below are my demo results.

This demo account started with $3000. The maximum floating drawdown has been $161. So, I could have probably started with a much smaller balance. Account now at $4052.00
Attached Image (click to enlarge)
Click to Enlarge Name: 35x20-AusNzd-.10LotsClose12508.gif Size: 5 KB
  • #427
  • Edited 7:01pm Dec 7, 2008 6:18pm | Edited 7:01pm
Using .1 lots, I suggest you becareful. In looking back on the charts of the pairs you indicate that you are going to run it on I can see you getting a margin call in the near future.

Regards,
Jeff

Quoting newera
I've been trading 35x20 for 2 weeks now....
  • #428
  • Dec 7, 2008 6:43pm Dec 7, 2008 6:43pm
Quoting newera
I've been trading 35x20 for 2 weeks now. I start the EA after 7pm EST on Sunday and let run till 3:30 or so on Friday. I tested during NFP just to see what it would do.

I'm trading .1 lots instead of .05. This past week, I added EUR/GBP and AUD/CAD. So, far (cross my fingers), I have not hit a stop loss.

Going live this week with 35x25 on those three pairs at .1 lots each. Multiplication factor. 1.8.

Below are my demo results.

This demo account started with $3000. The maximum floating drawdown has been $161. So, I could have probably started...

I would definitely drop the EUR/GBP as it has been making crazy moves lately. I know Bob already dropped it as he hit a stop loss with it. Anyway,
I wish you luck.
  • #429
  • Dec 7, 2008 6:59pm Dec 7, 2008 6:59pm
Quoting toyoproxo
I would definitely drop the EUR/GBP as it has been making crazy moves lately. I know Bob already dropped it as he hit a stop loss with it. Anyway,
I wish you luck.
I also dropped the Eur/gbp also because it uses 3x more margin than the Aud/nzd. It was a lot of margin for very few profitable trades.
  • #430
  • Dec 7, 2008 7:17pm Dec 7, 2008 7:17pm
Ok, thanks for the feedback, I'll drop as well on the live account.

Quoting nanningbob
I also dropped the Eur/gbp also because it uses 3x more margin than the Aud/nzd. It was a lot of margin for very few profitable trades.
  • #431
  • Dec 7, 2008 8:15pm Dec 7, 2008 8:15pm
I started a fresh demo account with the new 35X25 ea with default settings except I changed the stop loss to 210 as recommended. I started it 5 hours ago and it just got stopped out with a $150 loss.
  • #432
  • Dec 7, 2008 8:21pm Dec 7, 2008 8:21pm
Never trade the sunday open. Only trade Monday through Friday. Close out at the London open on Friday.

Regards,
Jeff

Quoting toyoproxo
I started a fresh demo account with the new 35X25 ea with default settings except I changed the stop loss to 210 as recommended. I started it 5 hours ago and it just got stopped out with a $150 loss.
  • #433
  • Dec 7, 2008 8:25pm Dec 7, 2008 8:25pm
Also, the spread will kill you. Not worth trading when the spread widens like it does at the Sunday open especially with the Interbank bucketshop.

Regards,
Jeff

Quoting azjeff
Never trade the sunday open. Only trade Monday through Friday. Close out at the London open on Friday.

Regards,
Jeff
  • #434
  • Dec 7, 2008 8:25pm Dec 7, 2008 8:25pm
Quoting azjeff
Never trade the sunday open. Only trade Monday through Friday. Close out at the London open on Friday.

Regards,
Jeff
GOOD ADVICE.

Unusual movement in one direction today and my SL is also hit.
"Put all your efforts in becoming effortless"
  • #435
  • Dec 7, 2008 8:44pm Dec 7, 2008 8:44pm
Quoting azjeff
Never trade the sunday open. Only trade Monday through Friday. Close out at the London open on Friday.

Regards,
Jeff

Thanks Jeff for the information. I was only running a demo account this time. I actually did run it from Sunday open last week on my live account so I guess I was just lucky this did not happen then.
  • #436
  • Dec 7, 2008 8:48pm Dec 7, 2008 8:48pm
hmm... I started it a little later, past tokyo open and I got the retrace for tp for my trades.
  • #437
  • Dec 7, 2008 9:15pm Dec 7, 2008 9:15pm
Newera, I was stopped last week on BOTh of those pairs. Be careful. Fortunately was only on a demo account. I can't see how you weren't.
Quoting newera
I've been trading 35x20 for 2 weeks now. I start the EA after 7pm EST on Sunday and let run till 3:30 or so on Friday. I tested during NFP just to see what it would do.

I'm trading .1 lots instead of .05. This past week, I added EUR/GBP and AUD/CAD. So, far (cross my fingers), I have not hit a stop loss.

Going live this week with 35x25 on those three pairs at .1 lots each. Multiplication factor. 1.8.

Below are my demo results.

This demo account started with $3000. The maximum floating drawdown has been $161. So, I could have probably started...
  • #438
  • Dec 7, 2008 9:43pm Dec 7, 2008 9:43pm
Quoting paradoxical
Newera, I was stopped last week on BOTh of those pairs. Be careful. Fortunately was only on a demo account. I can't see how you weren't.

Just curious, were you staying out of the USA session?
  • #439
  • Dec 7, 2008 9:45pm Dec 7, 2008 9:45pm
The feeling of losing great deal of money at 1 shot is bad

I hate Monday.
  • #440
  • Dec 7, 2008 11:57pm Dec 7, 2008 11:57pm
Why didn't you wait for the weekend gap to close?
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