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Trading aud/nzd successfully

  • #601
  • Dec 12, 2008 5:08am Dec 12, 2008 5:08am
Quoting Tjpld
What made it even worse for me is that my stupid laptop installed some "important" Windows Updates and rebooted at night.

Another lesson learned.

This is a very simple fix. Just go to the automatic updates section of your control panel and turn it to off. I also learned this the hard way too before.
  • #602
  • Dec 12, 2008 5:12am Dec 12, 2008 5:12am
Quoting IamTHAT
50x30 is preferable though with infrequent trades.
30x25 at 1.8 multiplication results in just $0.8 at the max level. Hardly worth it considering present scenario of spread, slippage etc. Difference between TP and Pips(step) has to more than 20 to produce reasonable returns if the multiplication is below 2.
Good observation. I had a 35x25 with 1.7 mult. and the spread/slippage did effect the profits to much (sometimes negative).
  • #603
  • Dec 12, 2008 5:51am Dec 12, 2008 5:51am
Has this Aussie cat turned into a lion? We were happily stroking it thinking what a nice little docile pet when it suddenly over the last 2 days started to roar like a lion. I think it is safer to keep my distance from this cat until it starts behaving itself again.

In the meantime I have been looking at my stop loss of 200 which proved to be hopelessly inadequate in the face of the ferocity of this animal.

Does it look like I need to increase the stop loss to 300 or more? Or do I keep it at 200 and bear the pain when it strikes again? Or do I reduce the number of levels from 8 to something lower so that the stop loss is less painful when it ultimately hits?

Or do I now look for a trend following method to complement the 35x20 method? When the 35x20 method goes on its wild trip and trends and trends and results in losses the trend following method will show an eqivalent profit to offset the losses. Wishful thinking? That would be a good Christmas present!

Santa, are you there?
  • #604
  • Dec 12, 2008 7:04am Dec 12, 2008 7:04am
Quoting Trader7
Has this Aussie cat turned into a lion? We were happily stroking it thinking what a nice little docile pet when it suddenly over the last 2 days started to roar like a lion. I think it is safer to keep my distance from this cat until it starts behaving itself again.

In the meantime I have been looking at my stop loss of 200 which proved to be hopelessly inadequate in the face of the ferocity of this animal.

Does it look like I need to increase the stop loss to 300 or more? Or do I keep it at 200 and bear the pain when it strikes again? Or do I...
Actually this EA can use for both range and trend. For trend setting, just make ur profit double ur SL.

Just an example, x1.5 120X5 level 10 SL 100. If u believe that it will trend, hitting 120 isnt a problem without getting stop out.

The SL cost $450 and the TP will be $800. If u want to, make it 200x5 and u try other currency that will trend properly.
  • #605
  • Dec 12, 2008 7:12am Dec 12, 2008 7:12am
Quoting IamTHAT
50x30 is preferable though results in infrequent trades.
30x25 at 1.8 multiplication results in just $0.8 at the max level. Hardly worth it considering present scenario of spread, slippage etc. Difference between TP and Pips(step) has to more than 20 to produce reasonable returns if the multiplication is below 2.
whered u get the $0.8 from?

35x20 is less than 20 pips.... ive been looking at 30x20, 35x28 etc.... its a tough equilibrium between risk, coverage and return

45x30 at 1.6 multiply with max 8 trades and SL 300??
Grabbing the bull by the horns!
  • #606
  • Dec 12, 2008 7:17am Dec 12, 2008 7:17am
Quoting whitegoodman
whered u get the $0.8 from?

35x20 is less than 20 pips.... ive been looking at 30x20, 35x28 etc.... its a tough equilibrium between risk, coverage and return
Yes, When u play more with the excel, u will understand this system a lot better and be able to make ur own profitable setting.
  • #607
  • Dec 12, 2008 7:20am Dec 12, 2008 7:20am
Quoting forexisfx
Yes, When u play more with the excel, u will understand this system a lot better and be able to make ur own profitable setting.
you jsut doing the sum of the profit column to get that? ($0.8 that is)
Grabbing the bull by the horns!
  • #608
  • Dec 12, 2008 7:41am Dec 12, 2008 7:41am
Quoting IamTHAT
50x30 is preferable though results in infrequent trades.
30x25 at 1.8 multiplication results in just $0.8 at the max level. Hardly worth it considering present scenario of spread, slippage etc. Difference between TP and Pips(step) has to more than 20 to produce reasonable returns if the multiplication is below 2.
35x25 is better, I havent been able to come up with numbers for a TP 30 unless you do a full martingale. 30x30 or 30x25 at 2.0 multiplication. You could 6 levels and have something work but more than that and your looking at a suicide.
  • #609
  • Dec 12, 2008 7:48am Dec 12, 2008 7:48am
Quoting nanningbob
35x25 is better, I havent been able to come up with numbers for a TP 30 unless you do a full martingale. 30x30 or 30x25 at 2.0 multiplication. You could 6 levels and have something work but more than that and your looking at a suicide.
i think the trick is to find something that works with a 25-35 re-entry so you can limit max trades and benefit from a higher SL (which can lead to perhaps running the system relatively fearlessly 24/5). Now the multiplication and TP is what im gonna experiment with this coming week.
Grabbing the bull by the horns!
  • #610
  • Dec 12, 2008 7:54am Dec 12, 2008 7:54am
I consider myself very fortunate to have gotten out of yesterdays carnage with a slight profit. I used settings of 50x15, 11 levels, with a 250 stop and at .10. Someone suggested bigger stops like 300. While the 250 PIP stop saved my bacon, your nerves get rattled when it gets close to reaching the stop. Whatever stop you use, my feeling is that you have to be willing to lose that amount, and if you hit the 300 pip stop, it wouldn't make a big dent in your wallet. For example, my loss yesterday would have been $830.00 with a 250 pip stop, and about $1,140.00 with a 300 pip stop. Naturally, I don't want to lose. No one does. But, to me the main factor is to always consider that you could lose; whether your stop is 250, 300 or 350. I traded this live. The difference between demo and live trading is like the difference between night and day. On a demo when you lose a $3,000.00 account, you just open another one. Unless you have lots of money, you don't just pull another $3,000.00 out of your wallet. All kinds of emotions come into play when it's real money.
  • #611
  • Dec 12, 2008 8:11am Dec 12, 2008 8:11am
Quoting paradoxical
I consider myself very fortunate to have gotten out of yesterdays carnage with a slight profit. I used settings of 50x15, 11 levels, with a 250 stop and at .10. Someone suggested bigger stops like 300. While the 250 PIP stop saved my bacon, your nerves get rattled when it gets close to reaching the stop. Whatever stop you use, my feeling is that you have to be willing to lose that amount, and if you hit the 300 pip stop, it wouldn't make a big dent in your wallet. For example, my loss yesterday would have been $830.00 with a 250 pip stop, and about...
if u think about this in longer term, SL 250 has a higher chance of hitting than 300. If 250 hit 2 times and 300 only once, 250 will cost u $1660 and having 300 stop once cost u $1140. U just need to have a reasonable stop loss in place. 250 SL was reasonable before Dec but right now, 300 is more reasonable. If u keep getting high/low of over 200 pips, 250 pips will get hit more often than 300. If u are setting bigger SL, lower ur lot will do the trick.
  • #612
  • Dec 12, 2008 8:17am Dec 12, 2008 8:17am
Quoting forexisfx
Actually this EA can use for both range and trend. For trend setting, just make ur profit double ur SL.

Just an example, x1.5 120X5 level 10 SL 100. If u believe that it will trend, hitting 120 isnt a problem without getting stop out.

The SL cost $450 and the TP will be $800. If u want to, make it 200x5 and u try other currency that will trend properly.
Forxisfx,

Just confirming ...by "x1.5 120X5 level 10 SL 100" ....are you saying re-enter every 5 pips?

Regards,
JoeQ
  • #613
  • Dec 12, 2008 9:03am Dec 12, 2008 9:03am
Quoting nanningbob
35x25 is better, I havent been able to come up with numbers for a TP 30 unless you do a full martingale. 30x30 or 30x25 at 2.0 multiplication. You could 6 levels and have something work but more than that and your looking at a suicide.
35x20 works with 1.8 and above for reasonable profits but level above 7 becomes scary. As you have mentioned before we need different settings for different times, horses for courses, so to say.
I have modified xls sheet to reflect correct lot when fractional multiplication is used(above and below 1.5). Hope I have got it right this time. Below 1.4 becomes little dicey with multiple positions opened with same nos.
Attached File(s)
File Type: xls finder3-altered3.xls   35 KB | 286 downloads
"Put all your efforts in becoming effortless"
  • #614
  • Dec 12, 2008 8:57pm Dec 12, 2008 8:57pm
I have been following this thread & amazed at the help every-one is prepared to put in, it's great,totally opposite to most share trade forums,take a bow !!!!
So,for my 1st post I need some help please
I downloaded /installed 35/20 ea's
opened demo a/c with gomarket.com.au for $3000 AU
ran ea on default settings
watched market trending down,bank balance started to look a bit sick so I turned the ea off & went to bed.This AM I found a loss of au$615.41
journal shows
9.46 pm 1 trade stopped out for loss $83.68
9.57 pm 5 trades closed (not stopped out) for a loss of au $906.38
So what I need to know is , how or why were these trades closed when looking at the charts ever-one should have a winner?
I don't know how show you my trades/journal here or i would have, thank you in advance
  • #615
  • Dec 12, 2008 9:08pm Dec 12, 2008 9:08pm
Quoting wacazac
I have been following this thread & amazed at the help every-one is prepared to put in, it's great,totally opposite to most share trade forums,take a bow !!!!
So,for my 1st post I need some help please
I downloaded /installed 35/20 ea's
opened demo a/c with gomarket.com.au for $3000 AU
ran ea on default settings
watched market trending down,bank balance started to look a bit sick so I turned the ea off & went to bed.This AM I found a loss of au$615.41
journal shows
9.46 pm 1 trade stopped out...
hmmm closed cos of a margin call?

you realise when a sell or a buy hits its stop loss or take profit all other sells (if sell TP or SL is hit) and buys (if buy TP or SL is hit) are closed automatically...


so if your initial sell lot hits its 200 SL all other sells you have open automatically close
Grabbing the bull by the horns!
  • #616
  • Dec 12, 2008 10:30pm Dec 12, 2008 10:30pm
Quoting wacazac
I have been following this thread & amazed at the help every-one is prepared to put in, it's great,totally opposite to most share trade forums,take a bow !!!!
So,for my 1st post I need some help please
I downloaded /installed 35/20 ea's
opened demo a/c with gomarket.com.au for $3000 AU
ran ea on default settings
watched market trending down,bank balance started to look a bit sick so I turned the ea off & went to bed.This AM I found a loss of au$615.41
journal shows
9.46 pm 1 trade stopped out...
You didnt do anything wrong, you picked probably the worst day of the year to trade the aud/nzd. I dont know why congress not bailing out the Auto makers has anything to do with the aud/nzd currencies but they reacted to a big news story. The problem with any system and any EA is the unusual big new story. If you have been reading I predicted that GM going bankrupt would be big and just the thought of it going under moved the markets. Imagine how crazy it will be if it really goes under. Next time you try the EA try starting it on a day that a super big news story isnt happening.
  • #617
  • Dec 12, 2008 10:58pm Dec 12, 2008 10:58pm
Quoting Toothman
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...

I am not getting numbers like that. Check your program for slippage, mine is set for 10 so I get close to the price most of the time. It not someone can try changing the code to close all for buys or sells and see if that helps.
  • #618
  • Dec 12, 2008 11:13pm Dec 12, 2008 11:13pm
Quoting wacazac
I have been following this thread & amazed at the help every-one is prepared to put in, it's great,totally opposite to most share trade forums,take a bow !!!!
So,for my 1st post I need some help please
I downloaded /installed 35/20 ea's
opened demo a/c with gomarket.com.au for $3000 AU
ran ea on default settings
watched market trending down,bank balance started to look a bit sick so I turned the ea off & went to bed.This AM I found a loss of au$615.41
journal shows
9.46 pm 1 trade stopped out...
Check your margin leverage. My examples are from using 400:1 leverage. You may need to change that.
  • #619
  • Dec 13, 2008 3:41am Dec 13, 2008 3:41am
Quoting whitegoodman
hmmm closed cos of a margin call?

you realise when a sell or a buy hits its stop loss or take profit all other sells (if sell TP or SL is hit) and buys (if buy TP or SL is hit) are closed automatically...


so if your initial sell lot hits its 200 SL all other sells you have open automatically close
does this happen even if the EA's have been turned off ?
if not it must have been a margin call, but how can you tell ?
  • #620
  • Dec 13, 2008 3:46am Dec 13, 2008 3:46am
Quoting nanningbob
Check your margin leverage. My examples are from using 400:1 leverage. You may need to change that.
I am using 200:1 leverage
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