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Trading aud/nzd successfully

  • #501
  • Edited 1:20am Dec 10, 2008 1:10am | Edited 1:20am
what happen to FrostCall ? http://www.frostcall.com/mt4/statement.htm

This is a good lesson for us. If i am not wrong, by looking at his statement, he is using 50X15 x1.5 trading 0.01 lot. He started $80 for the day and when he reach level 9 trade he got a margin call and his position got close out automatically. What's importance here is that u MUST have enough money to cover the DD before it TP. This also tell us that do not over leverage ur account and get blow up because u don't have money to cover the DD.

It happen to me on Monday as well. I was too confident on my own setting and I set the lot which I could barely make it for the DD and got close out because of not enough money. If i were to reduce the lot, my trade on Monday could have been a winner or a small loss.
Attached Image (click to enlarge)
Click to Enlarge Name: statement.gif Size: 5 KB
  • #502
  • Dec 10, 2008 1:48am Dec 10, 2008 1:48am
Quoting forexisfx
what happen to FrostCall ? http://www.frostcall.com/mt4/statement.htm

This is a good lesson for us. If i am not wrong, by looking at his statement, he is using 50X15 x1.5 trading 0.01 lot. He started $80 for the day and when he reach level 9 trade he got a margin call and his position got close out automatically. What's importance here is that u MUST have enough money to cover the DD before it TP. This also tell us that do not over leverage ur account and get blow up because u don't have money to cover the DD.

It happen...

would have thought frosty would have applied his own excel sheet a bit better?
Grabbing the bull by the horns!
  • #503
  • Dec 10, 2008 2:08am Dec 10, 2008 2:08am
can i ask a question regarding multiplication and frostys excel sheet...

ive input 50x20 with 1.3 multiplication in frostys excel and these are the lot sizes...

0.05
0.07
0.1
0.13
0.17
0.23
0.3
0.39

however in my ibfx demo it is currently...

0.05
0.07
0.09
0.12
0.16
0.21
0.27
0.35

anyone else noticed this?
Grabbing the bull by the horns!
  • #504
  • Edited 2:42am Dec 10, 2008 2:30am | Edited 2:42am
Hi all,

in order to avoid these heavy draw down and blow up, I am using the fib pivots. I have mentioned them in my previous post this thread.

Draw fib pivot indicator on the chart. Most of the traders have it.

I am using IBFX . It follows GMT.

The fib pivot indicator plots the pivot point, 3 support and 3 resistance lines.
At the time when you want to put the EA to start, calculate the distance between The price at that particular point and the distant R3 and S3 lines.
Calculate the difference in pips. The highest of both is what we ar e supposed to use. Suppose the highest of both is 200 pips.

If you are planning for 7 levels. then divide the 200 pips by 7 and you will get 30 pips approx. So you step should be 30 pips for each level and the target profit should be 50 or 60 pips. If your trades reach the 7 th level, you will end in profit. Trade in the direction of the highest difference .
It means if the difference between Price at the start of the EA and R3 level is greater than the distance between That S3 level, Trade long else short.

If the trade reaches the S3 level or R3 level during the day, then trade either long or short respectively. You will never face un calculated draw down. The AUD NZD respects the R3 and S3 levels. During the day it ranges between them. This system cannot be back tested with an EA. because the pivot, Support and resistance levels change everyday. But mathematically the system is flawless. You can check for yourself. Safety of your equity is assured. And the daily profit percentage varies with The distance between the price and the R3 and S3 levels. Lesser the distance. More the profit. Longer the distance, less the profit. I am not using stop loss. Even if one intends to use it. it varies from day to day. If the trades are planned in the above method, we can trade the US session too without any loss.
  • #505
  • Dec 10, 2008 3:01am Dec 10, 2008 3:01am
Quoting whitegoodman
can i ask a question regarding multiplication and frostys excel sheet...

ive input 50x20 with 1.3 multiplication in frostys excel and these are the lot sizes...

anyone else noticed this?
I have noticed this discrepancy in multiplication below 1.5. Rounding off error is there.
"Put all your efforts in becoming effortless"
  • #506
  • Dec 10, 2008 3:02am Dec 10, 2008 3:02am
Quoting IamTHAT
I have noticed this discrepancy in multiplication below 1.5. Rounding off error is there.
does anyone know how to fix this? my excel formula skill ends at averages, sums and general maths stuff
Grabbing the bull by the horns!
  • #507
  • Dec 10, 2008 3:12am Dec 10, 2008 3:12am
Quoting simplecoders
Hi all,

in order to avoid these heavy draw down and blow up, I am using the fib pivots. I have mentioned them in my previous post this thread.

Draw fib pivot indicator on the chart. Most of the traders have it.

I am using IBFX . It follows GMT.

The fib pivot indicator plots the pivot point, 3 support and 3 resistance lines.
At the time when you want to put the EA to start, calculate the distance between The price at that particular point and the distant R3 and S3 lines.
Calculate the difference in pips. The highest of both is what we ar...
Would you mind posting the indicator with the settings you are using?

many thanks
  • #508
  • Dec 10, 2008 3:12am Dec 10, 2008 3:12am
Quoting whitegoodman
can i ask a question regarding multiplication and frostys excel sheet...

ive input 50x20 with 1.3 multiplication in frostys excel and these are the lot sizes...

0.05
0.07
0.1
0.13
0.17
0.23
0.3
0.39

however in my ibfx demo it is currently...

0.05
0.07
0.09
0.12
0.16
0.21
0.27
0.35

anyone else noticed this?
I did highlight this when the spreadsheet first appeared....
Frosty uses the ROUNDUP function when making his calculations, but MT4 doesn't, so you will need to edit the spreadsheet - whereever you see ROUNDUP and change it to ROUND.
He has the right to criticize who has the heart to help. Abraham Lincoln
  • #509
  • Edited 3:28am Dec 10, 2008 3:27am | Edited 3:28am
Quoting waltini1
Would you mind posting the indicator with the settings you are using?

many thanks
The main point is not the indicator. It is the calculation of the levels of trading, the target profit, the pip difference between trades etc.

Here is the indicator. Almost every trader uses it in some way or the other.

Sorry forgot to attach the indicator. Plz check my next post
  • #510
  • Dec 10, 2008 3:29am Dec 10, 2008 3:29am
Fib Pivot indicator

It does not have any specific settings. Drag it in to your chart and it will draw the lines.
Attached File(s)
File Type: mq4 Fibonacci Pivots.mq4   5 KB | 268 downloads
  • #511
  • Dec 10, 2008 3:44am Dec 10, 2008 3:44am
Quoting simplecoders
Fib Pivot indicator

It does not have any specific settings. Drag it in to your chart and it will draw the lines.
is that what we currently have on the 'buy EA' chart?
Grabbing the bull by the horns!
  • #512
  • Dec 10, 2008 3:46am Dec 10, 2008 3:46am
Quoting Jim4x
I did highlight this when the spreadsheet first appeared....
Frosty uses the ROUNDUP function when making his calculations, but MT4 doesn't, so you will need to edit the spreadsheet - whereever you see ROUNDUP and change it to ROUND.
thanks, itll make my lot size decisions a bit more accurate now
Grabbing the bull by the horns!
  • #513
  • Edited 8:31am Dec 10, 2008 3:52am | Edited 8:31am
Quoting whitegoodman
thanks, itll make my lot size decisions a bit more accurate now
I came up with this formula in the lot size column:

=IF((A14<=B6),ROUND(B7*B3^A14,2),0)

A14 will change to A15, 16 depending on the level of the row. Hope this works
I will check it later.

ROUNDUP to ROUND may not work below 1.5..

Try this attached sheet. I have altered upto level 12. See whether it matches with the lots opened.
Attached File(s)
File Type: xls finder3-altered2.xls   26 KB | 278 downloads
"Put all your efforts in becoming effortless"
  • #514
  • Dec 10, 2008 4:09am Dec 10, 2008 4:09am
Quoting whitegoodman
is that what we currently have on the 'buy EA' chart?
If it is the PB_autopivots2 indicator, then it is similar to the one I have posted. Please drag the both indicators on the chart and see if there is any diff. Currently I am at my work place. So I cannot check it.

Thank you
  • #515
  • Dec 10, 2008 4:39am Dec 10, 2008 4:39am
I think NZD pair is getting crazy spread. No news on EURNZD is 30 - 50 pips spread. That is really crazy. Hopefully AUDNZD wouldn't go to 30 pips spread as it's "normal" spread. If u see the AUDNZD moving down, it's actually not moving most of the time becoz whenever it moves down, the spread increase and when it moves up the spread return to 14 for a while. It's like u are suppose to TP ur sell but becoz of the spread increase, it's way off the suppose TP line. Sometimes u are lucky, the spread will suddenly go back to 14 and hit ur sell TP.
  • #516
  • Dec 10, 2008 4:48am Dec 10, 2008 4:48am
Quoting forexisfx
I think NZD pair is getting crazy spread. No news on EURNZD is 30 - 50 pips spread. That is really crazy. Hopefully AUDNZD wouldn't go to 30 pips spread as it's "normal" spread. If u see the AUDNZD moving down, it's actually not moving most of the time becoz whenever it moves down, the spread increase and when it moves up the spread return to 14 for a while. It's like u are suppose to TP ur sell but becoz of the spread increase, it's way off the suppose TP line. Sometimes u are lucky, the spread will suddenly go back to 14 and hit ur sell TP.
hmmm looks like ill be waiting till Jan for this to become 'normal' in terms of spread... ive been noticing the spread increasing when moving down aswell
Grabbing the bull by the horns!
  • #517
  • Dec 10, 2008 4:49am Dec 10, 2008 4:49am
Exactly. The changing spread value nullifies, the ranging quality of AUD NZD pair. Since this pair ranges, perhaps the brokers keep the spread variable randomly, not necessarily at news times.
  • #518
  • Dec 10, 2008 5:05am Dec 10, 2008 5:05am
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.
If it doesnt settle I think the 50x15 or 50x10 or some version where we have more entry levels taking profit will be able to defeat he higher pip spreads. Only testing will tell. I have two live accounts one is making as much money as the other is losing errrrrrrrrrrr one is losing as much money as one is making errrrrrrrrrr.

For those guys who have been following me for a while, my quest to have an EA work with 250 bucks is still out of reach. I got bopped monday and then I didnt have enough margin to handle the deeper trades this week so the quest will go on. The accounts where I start with at least 5-600 I have been able to increase and take profits but still havent been able to find an EA that runs with only 250. Even with the 400:1 spread I just dont have enough margin to handle the bigger DD.
  • #519
  • Dec 10, 2008 5:09am Dec 10, 2008 5:09am
Quoting nanningbob
If it doesnt settle I think the 50x15 or 50x10 or some version where we have more entry levels taking profit will be able to defeat he higher pip spreads. Only testing will tell. I have two live accounts one is making as much money as the other is losing errrrrrrrrrrr one is losing as much money as one is making errrrrrrrrrr.

For those guys who have been following me for a while, my quest to have an EA work with 250 bucks is still out of reach. I got bopped monday and then I didnt have enough margin to handle the deeper trades this week so the...


Which account setting is doing good and which one is losing?
  • #520
  • Dec 10, 2008 5:09am Dec 10, 2008 5:09am
Here is a pic of the 35x20 and the 35x25 does the same but the stop lines are outside the red lines. At 210 this keeps the SL from almost never getting hit unless price swings from top to bottom or bottom to top. I think it is a solid risk if you have enough margin to cover this range.l
Attached Image (click to enlarge)
Click to Enlarge Name: 35x20 35x25.gif Size: 9 KB
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