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Trading aud/nzd successfully

  • #661
  • Dec 16, 2008 10:05am Dec 16, 2008 10:05am
I've stopped trading this pair for the time being at least. If the spread ever returns to where it was, will consider getting back in. Maybe next year?
Quoting toyoproxo
Yep, I think the rubber has left the aud/nzd pair. Another bust out last night.
  • #662
  • Dec 16, 2008 10:14am Dec 16, 2008 10:14am
Quoting paradoxical
I've stopped trading this pair for the time being at least. If the spread ever returns to where it was, will consider getting back in. Maybe next year?


I completely agree with you. I did go live with this system and I am up $55 on a $2,000 account. I saw some things I did not like and switched back to demo. I, and I am sure NannningBob, would not recommend live trading this system at this time.
  • #663
  • Dec 16, 2008 4:53pm Dec 16, 2008 4:53pm
I hope this pair does return back to its previous self at the start of the New Year. If it does, yay, if not we move on and adapt. The EAs that nanningbob has created for us can be adapted to work in any given market or instrument in forex. It is rather amazing if you think about it.

The hard part is the adaptation and implementation. No one said making money was easy.

I think we all need to step back from the looking glass here and realize that it is Dec, which is a historically low month volume wise. It isn't like the pair is really acting all that different if you take in to account the fact that spread is being increased due to lower volume. If We kept the spread constant at say, 11 or 14 pips then you notice that when the spread jumps to 20+ if the spread stayed at 14 then it would be just as bouncy as before.

Moral of the rant? Lets wait till 2009 to judge this baby.

edit: By the way I haven't had a stoploss hit this week just turning on 2 hours after tokyo open and turning off start-mid us session.
  • #664
  • Dec 16, 2008 7:44pm Dec 16, 2008 7:44pm
Quoting Verto
I hope this pair does return back to its previous self at the start of the New Year. If it does, yay, if not we move on and adapt. The EAs that nanningbob has created for us can be adapted to work in any given market or instrument in forex. It is rather amazing if you think about it.

The hard part is the adaptation and implementation. No one said making money was easy.

[color=black]I think we all need to step back from the looking glass here and realize that it is Dec, which is a historically low month...
I agree, I almost got hit yesterday but it retraced. I have been playing the USA session to much and that is dangerous. Because of the wider spreads I havent made much money during the jpy to usa open so we begin trying to force it by taking chances. After getting burnt AGAIN during the USA session last week its time just to take a vacation from trading. This works in side the parameters I have set but if you try to go 24/5 eventually the odds will catch up to you.
  • #665
  • Dec 16, 2008 9:54pm Dec 16, 2008 9:54pm
Quoting nanningbob
I agree, I almost got hit yesterday but it retraced. I have been playing the USA session to much and that is dangerous. Because of the wider spreads I havent made much money during the jpy to usa open so we begin trying to force it by taking chances. After getting burnt AGAIN during the USA session last week its time just to take a vacation from trading. This works in side the parameters I have set but if you try to go 24/5 eventually the odds will catch up to you.

This is what happens with 24/7. I am stopping this account now. Time to look for another system. Another hit since my last post.
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  • #666
  • Dec 16, 2008 9:58pm Dec 16, 2008 9:58pm
Quoting toyoproxo
Slowly but surely I am getting my money back (demo account). I am almost back to even.
Quoting forexisfx
it's too earlier to say becoz 1 loss = days of profit. Even if u break even or have a small profit, u only need a few hours to clear that. With the current spread, it's much more easier to get those bad day.
Quoting toyoproxo
This is what happens with 24/7. I am stopping this account now. Time to look for another system. Another hit since my last post.

I told u so. Cya around
  • #667
  • Dec 16, 2008 10:38pm Dec 16, 2008 10:38pm
I'm not sure why you guys would be running the system 24/5, bob and I have both warned you NOT to do this.

Seriously... this has got to be the worst time to be trying to trade this system. Give it time.
  • #668
  • Dec 16, 2008 11:40pm Dec 16, 2008 11:40pm
Quoting Verto
I'm not sure why you guys would be running the system 24/5, bob and I have both warned you NOT to do this.

Seriously... this has got to be the worst time to be trying to trade this system. Give it time.
i think its a great time to demo when its so bad, lets you set the parameters for worst case scenarios....
Grabbing the bull by the horns!
  • #669
  • Dec 16, 2008 11:56pm Dec 16, 2008 11:56pm
Quoting Verto
I'm not sure why you guys would be running the system 24/5, bob and I have both warned you NOT to do this.

Seriously... this has got to be the worst time to be trying to trade this system. Give it time.

On a real account I would not consider it. I am just seeing if it was profitable running it all the time. Somehow, I experienced stop outs that were not in the USA session that you and Bob avoided somehow.
  • #670
  • Dec 17, 2008 12:01am Dec 17, 2008 12:01am
Quoting toyoproxo
On a real account I would not consider it. I am just seeing if it was profitable running it all the time. Somehow, I experienced stop outs that were not in the USA session that you and Bob avoided somehow.
phew, I thought you were live toyoproxo... that was why I was worried.

I'm not sure why you haven't... I sleep through the majority of the time that I let the EA run. It might have been really close, but looking over I haven't even had a level 7 trade so far. It is probarly all about timing and closing.. I honestly don't know.
  • #671
  • Dec 17, 2008 1:20am Dec 17, 2008 1:20am
I close out the A/Z EA everyday

Anyone knows what caused the run again?
I'm 6 levels deep

Or is it just doing the bounding thing
  • #672
  • Dec 17, 2008 3:39am Dec 17, 2008 3:39am
Quoting whitegoodman
i think its a great time to demo when its so bad, lets you set the parameters for worst case scenarios....
That's what i was trying to say about a week ago. No one should go live (with any EA) without getting hit once. You have to be prepared for the worst and expect the best. For now I will strictly trade from 0 GMT to US Open.
  • #673
  • Dec 17, 2008 6:13pm Dec 17, 2008 6:13pm
just a quick poll what brokers are you guys using?

is there any other brokers besides ibfx that use $100 lots ie 1/10th of a micro?

ive been reading some shosking reviews about ibfx, but dont know if it would affect a system like this as stop hunting wouldnt affect us that much.
Grabbing the bull by the horns!
  • #674
  • Edited 6:34pm Dec 17, 2008 6:17pm | Edited 6:34pm
Quoting whitegoodman
just a quick poll what brokers are you guys using?

is there any other brokers besides ibfx that use $100 lots ie 1/10th of a micro?

ive been reading some shosking reviews about ibfx, but dont know if it would affect a system like this as stop hunting wouldnt affect us that much.
i don't worry about stop hunting since i don't put a stop and i exit myself. But i do notice that there are many times my TP is miss by 1 pip and move away.

I have done some research and found that not many broker offer nano lot (0.01 lot = $100). The other i found is masterforex and liteforex.

Majority of them offer micro lot (0.01 lot = $1000)

If u are worried about stop hunting, don't place ur stop on ur order and just make the stop hidden from the broker by coding the EA to close all trade when x number of pips moved for the first order
  • #675
  • Dec 17, 2008 7:06pm Dec 17, 2008 7:06pm
Quoting forexisfx
If u are worried about stop hunting, don't place ur stop on ur order and just make the stop hidden from the broker by coding the EA to close all trade when x number of pips moved for the first order
how would i do that? this feature already in Bob's EA?
Grabbing the bull by the horns!
  • #676
  • Dec 17, 2008 7:15pm Dec 17, 2008 7:15pm
Quoting whitegoodman
just a quick poll what brokers are you guys using?

is there any other brokers besides ibfx that use $100 lots ie 1/10th of a micro?

ive been reading some shosking reviews about ibfx, but dont know if it would affect a system like this as stop hunting wouldnt affect us that much.
The broker is the least of your worries... I've had the same thing happen to me and went onto other platforms to check the highs and 99.9% of the time they have the same values. I've stopped looking it up.. but I might do it just to comfort my evil broker thoughts. Seriously though, it is just bad luck.
  • #677
  • Dec 17, 2008 7:28pm Dec 17, 2008 7:28pm
Quoting Verto
The broker is the least of your worries... I've had the same thing happen to me and went onto other platforms to check the highs and 99.9% of the time they have the same values. I've stopped looking it up.. but I might do it just to comfort my evil broker thoughts. Seriously though, it is just bad luck.
thats what im thinking, they all seem to have stop hunting slippage stories... i think this would be less effective on an EA like this anyways...

maby start with one broker... once you get enough moeny diversify amongst a few brokers.... then when uve accumulated more and it makes financial sense move to ECN

thanks Verto
Grabbing the bull by the horns!
  • #678
  • Edited 11:04pm Dec 17, 2008 7:54pm | Edited 11:04pm
Quoting whitegoodman
thats what im thinking, they all seem to have stop hunting slippage stories... i think this would be less effective on an EA like this anyways...

maby start with one broker... once you get enough moeny diversify amongst a few brokers.... then when uve accumulated more and it makes financial sense move to ECN

thanks Verto
Those who compliance they had stop out often and slippage is those who are big time loser. If u are winning why would u make any noise ?

If they have a problem, deal with it. There is always solutions to problem.

I agree that slippage and stop loss wouldn't be a problem for us. The only thing i care about using this EA is exit a bad trade, nothing more.
  • #679
  • Dec 17, 2008 9:56pm Dec 17, 2008 9:56pm
Quoting forexisfx
Those who compliance they had stop out often and slippage is those who are big time loser. If u are winning why would u make any noise ?
i see your point, we are generally only hearing one side of the story, as people who are upset generally are the only ones writing about it.
Grabbing the bull by the horns!
  • #680
  • Dec 17, 2008 10:05pm Dec 17, 2008 10:05pm
Quoting whitegoodman
i see your point, we are generally only hearing one side of the story, as people who are upset generally are the only ones writing about it.
the funny thing is when bob or I speak up about how we don't notice any problems the result is normally, "How is it being on a brokers payroll?" etc.

I wish.
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