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Trading aud/nzd successfully

  • #701
  • Dec 18, 2008 1:48pm Dec 18, 2008 1:48pm
You're probably right on that. I had an Alpari UK demo account, and they told me to get a USA account.
Quoting onu
i know, i m trading with UK and Australien broker, but i think its not an easy task for american traders to go elsewhere...
  • #702
  • Dec 18, 2008 4:36pm Dec 18, 2008 4:36pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting urbanFX
As a matter of interest, what is the aud/nzd spread with your aussie broker?
i never trade such exotic CCY, spread 19 pips
  • #703
  • Dec 18, 2008 6:15pm Dec 18, 2008 6:15pm
Quoting onu
i never trade such exotic CCY, spread 19 pips
So u are here to tell us

"watch out, hedging will be prohibited for American brokers by new NFA rules soon....

NO Holy Grail anymore....."
  • #704
  • Dec 18, 2008 6:24pm Dec 18, 2008 6:24pm
Quoting forexisfx
So u are here to tell us

"watch out, hedging will be prohibited for American brokers by new NFA rules soon....

NO Holy Grail anymore....."
Thank you,
Onu for your... "contribution" to the thread, but it isn't the end of the world. Opening two accounts with the same broker takes me an extra five minutes. The NFA is... the NFA and in forex there is much that we cannot control. I believe bob was just trying to be humorous and I somehow don't really see you adding in much positive contributions to the thread.

All the same I must admit that we have been getting off topic fairly often here and as such the thread is getting increasing diffcult for newcomers to follow as well as people on holiday. I will try to limit my thread contribution to contain meaningful info from now on and I ask that you do the same all.

well... hopefully they will be meaningful.
  • #705
  • Dec 18, 2008 8:06pm Dec 18, 2008 8:06pm
I caution those who are still trading AUDNZD to stop trading from 22 Dec 08 - 02 Jan 09. Spread is very likely to go very high. Which means today is the last day to trade AUDNZD. Try again next year.
  • #706
  • Dec 18, 2008 9:29pm Dec 18, 2008 9:29pm
Quoting forexisfx
I caution those who are still trading AUDNZD to stop trading from 22 Dec 08 - 02 Jan 09. Spread is very likely to go very high. Which means today is the last day to trade AUDNZD. Try again next year.
I agree, doing some live trading today if something looks good but going to enjoy some time off.
  • #707
  • Dec 19, 2008 12:50am Dec 19, 2008 12:50am
Hello every one. I'n new to this thread. I like what I see going on here and have downloaded the EA. but am having some problems I think. I've read up to page 16 but want to go to bed so I thought I'd post a question to all here.
The Ea is very intriguing.
Please take a look at the chart below. I only have 30 pips between the red lines on the H1 chart.
my broker is Gain and uses 5 digits. I have a feeling this may be the problem.
When I load the Ea it wants to keep opening up trades one after the other. I know it will open 7 trades but does it do it all at the same time? Is this right?
Thanks
Tradster
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.jpg Size: 178 KB
  • #708
  • Dec 19, 2008 1:08am Dec 19, 2008 1:08am
Quoting Tradster
Hello every one. I'n new to this thread. I like what I see going on here and have downloaded the EA. but am having some problems I think. I've read up to page 16 but want to go to bed so I thought I'd post a question to all here.
The Ea is very intriguing.
Please take a look at the chart below. I only have 30 pips between the red lines on the H1 chart.
my broker is Gain and uses 5 digits. I have a feeling this may be the problem.
When I load the Ea it wants to keep opening up trades one after the other. I know it will open 7 trades but does it do...
5 digits is the problem.... so just add an extra zero on all your entries...
e.g. 35x20 will need to be 350x200 for you... take profit every 350pips and new position every 200 pips..... as you are finding out, your platform is currently opening every 2pips and trying to take profit every 3.5pips

You will also have to add a zero for the moving averages, otherwise they will also be only a few pips apart.

Just be careful if you go live with this as some brokers (like Alpari) have 5 digits on demo and 4 on live account!
He has the right to criticize who has the heart to help. Abraham Lincoln
  • #709
  • Dec 19, 2008 1:36am Dec 19, 2008 1:36am
Quoting Tradster
Hello every one. I'n new to this thread. I like what I see going on here and have downloaded the EA. but am having some problems I think. I've read up to page 16 but want to go to bed so I thought I'd post a question to all here.
The Ea is very intriguing.
Please take a look at the chart below. I only have 30 pips between the red lines on the H1 chart.
my broker is Gain and uses 5 digits. I have a feeling this may be the problem.
When I load the Ea it wants to keep opening up trades one after the other. I know it will open 7 trades but does it do...
If you trade, only do it on demo. Both the creator Nannningbob and Verto have advised not trading it now live.
  • #710
  • Dec 19, 2008 9:09am Dec 19, 2008 9:09am
Quoting Jim4x
5 digits is the problem.... so just add an extra zero on all your entries...
e.g. 35x20 will need to be 350x200 for you... take profit every 350pips and new position every 200 pips..... as you are finding out, your platform is currently opening every 2pips and trying to take profit every 3.5pips

You will also have to add a zero for the moving averages, otherwise they will also be only a few pips apart.

Just be careful if you go live with this as some brokers (like Alpari) have 5 digits on demo and 4 on live account!
Thank you for the help. Well, I tried to adjust every thing, and everything just went haywire.There's a serious problem if I was going to do the adjustments and then try to use the system. Since I'm not the originator of the Ea I would not know if the settings are correct or if something is set wrong or missed something and would never be able to trade this Ea with confidence. I'm sure there must be some of you who do trade this EA with a 5 digit broker and have this setup to trade correctly. Maybe I could get a copy of their EA? Pretty Please!
  • #711
  • Dec 19, 2008 10:14am Dec 19, 2008 10:14am
As soon as I'm back at the office I'll post mine for you.

Quoting Tradster
Thank you for the help. Well, I tried to adjust every thing, and everything just went haywire.There's a serious problem if I was going to do the adjustments and then try to use the system. Since I'm not the originator of the Ea I would not know if the settings are correct or if something is set wrong or missed something and would never be able to trade this Ea with confidence. I'm sure there must be some of you who do trade this EA with a 5 digit broker and have this setup to trade correctly. Maybe I could get a copy of their EA? Pretty Please!...
"The market giveth and the market taketh away"
  • #712
  • Dec 19, 2008 11:56am Dec 19, 2008 11:56am
I think you all would find this page interesting regarding the spreads offered.

http://www.forex.com/metatrader/trad...ractional.html

I called them and they confimed that the quoted spreads are real unless liquidity or news become a factor. usually below 8 pips. Today of course the spreads are outrageous.
  • #713
  • Dec 19, 2008 1:44pm Dec 19, 2008 1:44pm
Quoting toyoproxo
If you trade, only do it on demo. Both the creator Nannningbob and Verto have advised not trading it now live.
When ever there is a new method I always start out with a short time demo to understand the action and method of trading that either a system or Ea uses. That being said, I've traded futures and forex for 9 yrs and have found the following to be true. Trading charts using technical analysis in a paper trade or demo acct will never give you the true impact of live acct trading. Trading anything is 75% psychological, the charts or commodity is secondary.
I can sit behind my desk and trade all day long looking at charts and knowing where the PA will go seeing that I would have made money if I had only been in a real money acct. BUT, alas, when the time comes to trade real money everything changes. Fear, Greed, Joy and then terror.
Once I understand the EA and how it functions it's time to go live with 0.01 lots on a micro level (10cents/pip)and then as confidence builds then increase lots over time to a level that will not risk more than 1-2 % of capital. That's just me and my psychology. ( I must be loony) but it creates in me the right mindset to trade without fear. The Ea will take care of greed and and bring me Joy with the hope of never having to be terrified again.
I will probably go live just as soon as the spread comes into its normal range and everyone here agrees that it's good for trading. Having read this wonderful thread I can see that all you guys can be trusted to judge when that time comes. I will be lurking.
By the way, Greetings from sunny Florida USA
  • #714
  • Dec 19, 2008 3:08pm Dec 19, 2008 3:08pm
Quoting Tradster
I think you all would find this page interesting regarding the spreads offered.

http://www.forex.com/metatrader/trad...ractional.html

I called them and they confimed that the quoted spreads are real unless liquidity or news become a factor. usually below 8 pips. Today of course the spreads are outrageous.
Forex.com will only allow 10 cents as the smallest lot size so keep that in mind. The only US broker is IBFX that I know of that will offer .01 cent lots
thanks
M4X............ Hedging My Way To Profits!
  • #715
  • Dec 21, 2008 6:02pm Dec 21, 2008 6:02pm
I've now read the whole thread. Do I understand this correctly that we load and run both long EA and short EA at the same time? Or, do we go with the main trend of some higher time frame?
  • #716
  • Dec 21, 2008 8:47pm Dec 21, 2008 8:47pm
Bob

All Fellow Traders

Merry Christmas and a Happy New Year.

May the new year bring you loads of PIPS.
  • #717
  • Dec 21, 2008 10:40pm Dec 21, 2008 10:40pm
Quoting Tradster
I've now read the whole thread. Do I understand this correctly that we load and run both long EA and short EA at the same time? Or, do we go with the main trend of some higher time frame?
Method is to load both the EA at the same time. You can do your improvisation depending on the need of the hour. Running one EA only during major trends is something I have tried with some success.
"Put all your efforts in becoming effortless"
  • #718
  • Dec 22, 2008 8:49am Dec 22, 2008 8:49am
Does any know who to contact if I am having problems uploading attachments? It says uploading then the popup window goes blank with nothing uploaded.
  • #719
  • Dec 22, 2008 10:42pm Dec 22, 2008 10:42pm
I wish to seize this moment to wish Bob from Nanning and all of us here all the joys of the season and a wonderful 2009.

Be Merry and Happy!!


Charles.
  • #720
  • Dec 28, 2008 4:56pm Dec 28, 2008 4:56pm
It's been really lonely here....over the holidays....
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