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Trading aud/nzd successfully

  • #561
  • Dec 11, 2008 5:33am Dec 11, 2008 5:33am
Quoting nanningbob
I am going to give up one of my secrets even though it has been posted before. I run 4-6 screens and use 2-3 kinds of aud/nzd EAs on one live account. I keep the lots at smaller levels .05 so I dont have margin issues. So if there is little movement the 35/20 makes me money and on busy days 50/15 makes me even more than the 35/20 would. Since they end up at different starts and closes, i dont run the danger of them all hitting a stop loss. So far except for this Monday it has worked.

Thanks for sharing that bob. Now I see why my account is in the - while both Verto and your account is +.
  • #562
  • Dec 11, 2008 8:02am Dec 11, 2008 8:02am
Bob, is the Excel sheet posted on the 1st page still showing 1Pip = 1USD or have you modified it to represent the real figures? Just making sure to avoid miscalculations.
  • #563
  • Dec 11, 2008 8:31am Dec 11, 2008 8:31am
Quoting Corppu
Bob, is the Excel sheet posted on the 1st page still showing 1Pip = 1USD or have you modified it to represent the real figures? Just making sure to avoid miscalculations.
No it has not been changed, you need to multiply by .6 to get closer to reality. It is not perfectly accurate but will give you a ball park figure.
  • #564
  • Dec 11, 2008 12:29pm Dec 11, 2008 12:29pm
Boom back to where I started. ^^
What caused the AUD rally? Was this something
we could have expected to happen?
  • #565
  • Dec 11, 2008 1:52pm Dec 11, 2008 1:52pm
Running the 50X15 full time with a 250 PIP stop loss, and going .10. Have not been stopped out, but would have with a 200 PIP stop. Looking for a retrace, which is happening now. (always want to stay positive). I think the .6 is about rignt, and I would have lost about $830.00 on my live account. I like the idea of using two or three EAs. I may have profited already on the 35X20 EA I was using before, but there really has been very little retrace for the past 9 hours. The spread has been as high as 23, which makes it much tougher. Debating whether to continue using this pair unril things settle down as far as the spread. Would not want to lose $830.00, and debated using a global account loss stop, but decided that if I'm going to have a 250 stop, that's what I have to stick with. For those that play around with demo accounts, and see a $5,000.00 account maybe go down to $3,000.00, it's much easier to lose that money when it's play money. When you switch to a real account, you always have to plan for the worst case scenario.
  • #566
  • Dec 11, 2008 2:53pm Dec 11, 2008 2:53pm
Quoting paradoxical
Running the 50X15 full time with a 250 PIP stop loss, and going .10. Have not been stopped out, but would have with a 200 PIP stop. Looking for a retrace, which is happening now. (always want to stay positive). I think the .6 is about rignt, and I would have lost about $830.00 on my live account. I like the idea of using two or three EAs. I may have profited already on the 35X20 EA I was using before, but there really has been very little retrace for the past 9 hours. The spread has been as high as 23, which makes it much tougher. Debating whether...
It's just a matter of time untill it will hit your 250 pip stoploss. It WILL happen sometime.
  • #567
  • Dec 11, 2008 3:18pm Dec 11, 2008 3:18pm
Quoting Tjpld
It's just a matter of time untill it will hit your 250 pip stoploss. It WILL happen sometime.

It happened to me overnight, in fact. I am still up about 170$ for the month, but it does hurt when it is your real money. On the bright side...

the stoploss feature is working 100%.
  • #568
  • Dec 11, 2008 3:28pm Dec 11, 2008 3:28pm
I suppose you're right. Could be today. Next week, next month. I chose 250 because it was away from from the norm, and hopefully enough away to not be hit. Whatever stop one uses has to be considered in the overall trading plan as if it were hit. Right now, there's a retrace. I need to go down 30 more PIPS!!!
Quoting Tjpld
It's just a matter of time untill it will hit your 250 pip stoploss. It WILL happen sometime.
  • #569
  • Dec 11, 2008 3:47pm Dec 11, 2008 3:47pm
I managed to get the retrace . My 250 sl was not far away at the peak especially when the ask price was at times over 30 pips apart from the bid.
  • #570
  • Dec 11, 2008 4:33pm Dec 11, 2008 4:33pm
Still waiting here. That's the difference between a 50 TP and 35 TP. Also, I've seen the spread as high as 33. I was only about 6 pips away from getting them all closed out. I guess I'll leave the shut off on this pair for awhile until this spread fluctuation settles down. Will trade the 100X80 on the safer pairs for now.
  • #571
  • Dec 11, 2008 6:34pm Dec 11, 2008 6:34pm
Quoting nanningbob
My question then would be WHY?? I am making money using these programs. My contest account bombed but that was because I was pushing it pretty hard. My other live account took a hit on Monday but we are several hundred dollars in profit for the week. Sometimes you guys get a losing trade and you think you have to change everything. If the sell price is diving and it hits the sell TP and it keeps moving south it keeps increasing the profit and lowering the deficit. That is the more likely scenario than hitting the TP and reversing. Once price is...
Bob,
Not trying to beat a dead horse here. Just making an observation that could boost profits. I TP'D a 10 level trade on monday and in the time it took to close all 10 levels, price moved against me a combined 153 pips over the 10 levels. So I went back over all trades for the week up until tonight (thur. night) and totaled all the pips price moved for us and against us after a TP. For us ( 48) Against us ( 457 ) I'm figuring if we add some language so that all levels close at same price, this EA will produce more. It's hard to determine what each pip is worth with the multiple levels but this week (and we still have fri.) this may have produced an extra $30-$40 with the 50/15 EA. Nothing to sneeze at if you ask me. Just to see if this week was atipical, I looked at last week and the totals blew my mind. For us (18) Against us (677). Don't you think this is worth looking in to? Don't get me wrong, I love these EA's and plan to put real money into them. Thanks
  • #572
  • Dec 11, 2008 6:46pm Dec 11, 2008 6:46pm
This broker have a 7 pip spread.
Do you know it?
http://www.forexmicrolot.com/spreads.jsp
  • #573
  • Dec 11, 2008 6:57pm Dec 11, 2008 6:57pm
Quoting altezza.cl
This broker have a 7 pip spread.
Do you know it?
http://www.forexmicrolot.com/spreads.jsp

doesnt have mt4 though
Grabbing the bull by the horns!
  • #574
  • Dec 11, 2008 7:03pm Dec 11, 2008 7:03pm
Quoting whitegoodman
doesnt have mt4 though
ok
  • #575
  • Dec 11, 2008 7:12pm Dec 11, 2008 7:12pm
Was finally able to exit at a very small profit, which I'll take, since I was nearly stopped out. What a wild day. Went from about 1.2013 to 1.2243, and then back down from there to where it is now at 1.2110 with very little room to get out using the 50X15, and the spreads fluctuating wildly. I traded out manually at that level because it had dropped so much without a retrace back up, I didn't want to be hanging on for the last pip, while watching the darn thing retrace back up. The best thing I did was to put on a 250 PIP stop loss, which saved the day. Very happy to get out of the mess I was in.
  • #576
  • Dec 11, 2008 7:30pm Dec 11, 2008 7:30pm
looking at Monday and Thursday , i think we need a SL of 300 and maybe slight change to the EA setting ? Having 2 days in a week that is close to death trade is not a good omen
  • #577
  • Dec 11, 2008 7:47pm Dec 11, 2008 7:47pm
I give up on Aud/Nzd. Thank God I have been trading demo or else I would have got killed. I think we should start looking back at the 100/40 or 100/80.
  • #578
  • Edited 9:00pm Dec 11, 2008 7:50pm | Edited 9:00pm
Quoting toyoproxo
I give up on Aud/Nzd. Thank God I have been trading demo or else I would have got killed. I think we should start looking back at the 100/40 or 100/80.
hmm on my 35x20 account i havent had an issue this week..maby people should look to stay out of the US session... (like myself)
Grabbing the bull by the horns!
  • #579
  • Dec 11, 2008 7:54pm Dec 11, 2008 7:54pm
Quoting whitegoodman
hmm on my 35x20 account i havent had an issue this week..maby people should look to stay out of the US session...
I had one stop hit from my 50x20 but that is just because it trades all sessions. I'm only down a small bit for the week so it isn't all that horrible. I wouldn't rate this week as a total disaster though.
  • #580
  • Edited 9:09pm Dec 11, 2008 8:44pm | Edited 9:09pm
Quoting Verto
I had one stop hit from my 50x20 but that is just because it trades all sessions. I'm only down a small bit for the week so it isn't all that horrible. I wouldn't rate this week as a total disaster though.
Maybe it's just the beginning. AUDNZD used to bounds big but now it bounds small and move big. The next time round it might bounds 50 pips and move 300 pips (Not including spread). In the past with my own setting, I don't have any death trade in 3 weeks of trading (it was in Nov and the profit was huge). And when Dec. starts, my death trade keep coming and i keep changing my setting but it's still coming close to get me. With this kind of spread in place, it's not hard to realize that the "danger" level on trading this have increase. I'll move to trading 100x80 for the time being because I do not have the guts to take another hit. If u have baby sit ur EA, u will saw many times "if the spread was 14"

I'm still hugely positive (Thanks to Nov.) even though i got hit on death trades a few times this month. I have compare trading AUDNZD VS 100x80[17 pairs] and I think 100x80 has less risk and more reward whereas AUDNZD has more risk and less reward. I wanna keep my profit in tag to prepare for what's ahead on AUDNZD 2009 (Maybe spread goes back 11). Right now, AUDNZD looks like a stranger to me and I don't like that.
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