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Trading aud/nzd successfully

  • #481
  • Dec 9, 2008 12:35am Dec 9, 2008 12:35am
Quoting nanningbob
Unlimited martingale has been tried by thousands of traders. Doesnt work. There will always be a scenario that will kill the account. What I have done is limit the martingale affect so occasionally you take a loss but most of the time your are profitable. The key is to control your greed, if you dont control that you will bomb out.
Exactly... that is what I've been straving to do with my live account. I was up 300$ for the day and I was involved with a currently max leveled trade. It was nearly mid us session and I decided to close it leaving me like 120$ or something for the day. Now if I held on it would of retraced, but the point is I'm content with my 120$ and it could a large loss if it hit stop.


It is soooo hard to control the greed, but it proves to be invaluble.
  • #482
  • Edited 1:00am Dec 9, 2008 12:42am | Edited 1:00am
Quoting nanningbob
Yes I was playing with Frostcalls excel last night plugging in 50x10 figures. They looked good, the 50x15 us similar concept. Good ideas and good thinking.

You must remember you must always have a loss limit you are willing to bear. It may happen once or twice a month but it will happen. Just be willing to accept that occasional loss and you can be a winner.

Using 55X10, x1.2, lot0.03, max trade 30, no stop loss (need monitoring). Run on $3000 account. It have a range of 300 pips which currently is quite impossible to get hit without a 100 pips retract at least for this month low volume ?

Further more, when the EA earn more money, it keep on fueling the max trade where it will grow to 400,500,600,700 pips range. The chance of having a run without retract for 100 pips on AUDNZD is quite rare/impossible nowadays ?

Edit: I just though of a low cost set up for this.

55X10, x1.2, lot0.03, max trade 20, no stop loss (need monitoring). Run on $400 account.Add +1 max trade everytime ur account is able to hold the next DD.

Try this on demo account for the fun of "trying" to get a no loss setting.
  • #483
  • Dec 9, 2008 2:03am Dec 9, 2008 2:03am
Quoting IamTHAT
This experience I am having for the second time on my live account:

My 8th level trade closed now which should have produced good profits. To my bad luck I found out that total result was a loss since, by the all other positions closed there was drop of 12 pips! How to avoid this? I am using a multiplication 1.6.

There was one more EA mentioned couple of days ago in this thread (Bless ??)...
Now I know what exactly went wrong. Few buy levels (upto 5) were opened the previous day (around 1.2270 levels)and I stopped EA in the night (around 10 AM US). I never closed these positions (what I normally do). When I opened this morning, this EA added three more positions at around 1.2145 level! When the max level TP reached at around 1.2180, previous day positions closed with much higher gap.
Either I need to the keep the EA open at all times to avoid these gaps or close positions before stopping. Well, lesson learnt fast because of Live trading. Overall profit anyway.
"Put all your efforts in becoming effortless"
  • #484
  • Dec 9, 2008 2:13am Dec 9, 2008 2:13am
Quoting IamTHAT
Thanks for your reply.

Is it different in anyway in functioning, from the one we are using now?
Is it a single EA for both Buy and Sell?

Yes it is a single EA for both buy and sell.

You can set either bur or sell or both.
  • #485
  • Dec 9, 2008 2:28am Dec 9, 2008 2:28am
Hi,

Perhaps this might sound as a newbie question. But I wonder what the difference between 35x20 and 50x15 is?

Thanks!

Archie
  • #486
  • Dec 9, 2008 5:38am Dec 9, 2008 5:38am
Quoting Archie
Hi,

Perhaps this might sound as a newbie question. But I wonder what the difference between 35x20 and 50x15 is?

Thanks!

Archie
35 is the amount of pips to take profit and 20 is the amount of pips it reenters. The 50x15 is TP = 50 and reenter is every 15 pips. These formulas are mathematical calculations where you try to balance reward with risk. Each formula will have its strength and weaknesses, you try to find one that fits your trading risk and style and also fits within a range of a particular currency. Any formula that fits a 200 pip trading seems to work with the AUD/NZD however the most optimal can be debated here.
  • #487
  • Dec 9, 2008 6:29am Dec 9, 2008 6:29am
well im down again this morning using default 35x20 settings. i guess ill change with the times as well. good luck everyone.

however im still up $300 but was over $1500. maybe new settings will pan out better in this market
  • #488
  • Dec 9, 2008 6:37am Dec 9, 2008 6:37am
Quoting forexisfx
i was thinking of rather 55X10, x1.2, lot0.03, max trade 30, no stop loss (need monitoring). Run on $3000 account

if u run this setting from Nov till now, u never loss. Once u build up ur money, keep adding to max trade +1 every +$500 and u really never lose at all.

However, the down side is something really goes wrong, u lose the whole account.

Further imagine this. If this goes well without getting blow up in a month or more, u can build up ur max trade to a stage where it gets impossible to hit.
How did you backtest these settings from Nov. till now? Do you run the buy EA through the strategy tester then the sell and add the two results together? I'm assuming you test with a fri. shutdown. Remember, spread widening and slippage will screw up your results some but will give you some idea of preformance. Thanks
  • #489
  • Dec 9, 2008 9:37am Dec 9, 2008 9:37am
Quoting forexisfx
Using 55X10, x1.2, lot0.03, max trade 30, no stop loss (need monitoring). Run on $3000 account. It have a range of 300 pips which currently is quite impossible to get hit without a 100 pips retract at least for this month low volume ?

Further more, when the EA earn more money, it keep on fueling the max trade where it will grow to 400,500,600,700 pips range. The chance of having a run without retract for 100 pips on AUDNZD is quite rare/impossible nowadays ?

Edit: I just though of a low cost set up for this.

55X10, x1.2, lot0.03, max trade 20,...
I dont know if I want to play that big ever. The aud and nzd dollar currencies have a history of spiking out of the clear blue sky once every year or two and even with your figures that would cause problems. Other than that I have looked at the 50/10 and the numbers come up really good. Good work and good thinking. I am thinking of live trading numbers close to what you have. The DD is not quite as bad as some of the numbers previously tried.
  • #490
  • Dec 9, 2008 4:29pm Dec 9, 2008 4:29pm
well glad i changed with the times
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  • #491
  • Dec 9, 2008 4:39pm Dec 9, 2008 4:39pm
Quoting jtmoore007
well glad i changed with the times
you change to 35x25 with 1.8 multiplication?
Grabbing the bull by the horns!
  • #492
  • Dec 9, 2008 7:30pm Dec 9, 2008 7:30pm
Quoting whitegoodman
you change to 35x25 with 1.8 multiplication?
changed to this and watched carefully

Using 55X10, x1.2, lot0.03, max trade 30,

got pretty deep though: 9 levels
  • #493
  • Dec 9, 2008 7:45pm Dec 9, 2008 7:45pm
Quoting jtmoore007
changed to this and watched carefully

Using 55X10, x1.2, lot0.03, max trade 30,

got pretty deep though: 9 levels
9 level is not deep when u have level 30 as ur max.

What i consider deep here is level 25, u are not even half way through. I don't think u will even get there this month.
  • #494
  • Dec 9, 2008 8:22pm Dec 9, 2008 8:22pm
I hope the AUD/NZD settles at 14 pips. It's been fluctuating from 16-20 most of the day. Right now back at 14. Made a few bucks using the 50X15 with a 250 PIP stop at .05. Have gone up to .10 on my live account. Lost a few hundred last week when the spread went crazy. Let's hope things have settled down so we can all quietly make some money.
  • #495
  • Dec 9, 2008 9:27pm Dec 9, 2008 9:27pm
Quoting forexisfx
9 level is not deep when u have level 30 as ur max.

What i consider deep here is level 25, u are not even half way through. I don't think u will even get there this month.
I noticed with this combo that you are playing with fewer lots but you win with more lots sometimes 5 levels and this gives increased profit but a smaller DD. It has been interesting so far.
  • #496
  • Dec 9, 2008 9:28pm Dec 9, 2008 9:28pm
Quoting paradoxical
I hope the AUD/NZD settles at 14 pips. It's been fluctuating from 16-20 most of the day. Right now back at 14. Made a few bucks using the 50X15 with a 250 PIP stop at .05. Have gone up to .10 on my live account. Lost a few hundred last week when the spread went crazy. Let's hope things have settled down so we can all quietly make some money.
The spread is really a killer. I wonder what will happen when the spread goes back to 11. Right now, setting of range 200 pips is much more safe. If 200 pips range setting get blow up this week, we have to change to 300 pips range.
  • #497
  • Dec 9, 2008 9:43pm Dec 9, 2008 9:43pm
Quoting forexisfx
The spread is really a killer. I wonder what will happen when the spread goes back to 11. Right now, setting of range 200 pips is much more safe. If 200 pips range setting get blow up this week, we have to change to 300 pips range.
ive set all my stop losses to 250 just incase and to give more of a chance to retrace, however i may also add on another re-entry level and hence lot size and risk is adjusted accordingly
Grabbing the bull by the horns!
  • #498
  • Dec 10, 2008 12:30am Dec 10, 2008 12:30am
All Demos recovering very good sofar. My 250$ account is back at 220 after taking a 100$ loss on monday.
  • #499
  • Dec 10, 2008 1:06am Dec 10, 2008 1:06am
Hi, Live traders.

Any trader who is trading live or thinking of going live on AUD/NZD with EA would like to make freindship with me ?
contact me on my yahoo id which is there in my profie.

Best Regards
Ramdas
  • #500
  • Dec 10, 2008 1:08am Dec 10, 2008 1:08am
Quoting ramdas
Hi, Live traders.

Any trader who is trading live or thinking of going live on AUD/NZD with EA would like to make freindship with me ?
contact me on my yahoo id which is there in my profie.

Best Regards
Ramdas
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