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Trading aud/nzd successfully

  • #741
  • Jan 4, 2009 8:26am Jan 4, 2009 8:26am
Here is a pic of the last two months Notice how price almost never goes beyond the 1 st red line and does not hit the stop loss. You have to go back to October's crazy month to find trades that hit the stop loss. I think this is an excellent record for this EA.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd 2 months.gif Size: 50 KB
  • #742
  • Jan 4, 2009 8:36am Jan 4, 2009 8:36am
Oh I forgot to tell you the system follow the 40MA on the 1Hour chart. You can go to any time frame to watch but the only lines it uses are the ones on the 1H chart.
  • #743
  • Edited 11:22am Jan 4, 2009 9:56am | Edited 11:22am
Bob, as always, this looks great. I'll demo it this week and let you know how it goes. I see the EA loads with max trades as 4, but that should be 5 correct? And the stoploss is set as zero, must we change that or does it stop automatically when you hit the last red line?

As a matter of interest, if the spread settles would you trade the original 35x20 or would you still trade this?

Thanks again
Stuart
"The market giveth and the market taketh away"
  • #744
  • Jan 4, 2009 12:07pm Jan 4, 2009 12:07pm
Thank you Bob. I'm looking forward to trying this one. What kind of balance do you think would be appropriate to start with? Sure hope they don't do away with being able to buy and sell at the same time. Do you think we can work around new regulations if they were to be set in place by using separate accounts?
  • #745
  • Edited 2:45pm Jan 4, 2009 2:15pm | Edited 2:45pm
Quoting urbanFX
Bob, as always, this looks great. I'll demo it this week and let you know how it goes. I see the EA loads with max trades as 4, but that should be 5 correct? And the stoploss is set as zero, must we change that or does it stop automatically when you hit the last red line?

As a matter of interest, if the spread settles would you trade the original 35x20 or would you still trade this?

Thanks again
Stuart
This is what the code says that I downloaded:

extern string sb="--TRADE SETTING--";
extern double Lots = 0.10; // We start with this lots number
extern int TakeProfit = 30; // Profit Goal for the latest order opened
extern bool MyMoneyProfitTarget=False;
extern double My_Money_Profit_Target=50;
extern double multiply= 1.8;
extern int MaxTrades= 5; // Maximum number of orders to open
extern int Pips= 20; // Distance in Pips from one order to another
extern int StopLoss = 150; // StopLoss
extern int TrailingStop = 0;// Pips to trail the StopLoss

It says Max trades 5 stop loss 150. Try downloading again ???? I think I had the other one up for about 5 minutes but changed it. As far as which program I will trade will depend on testing results.
  • #746
  • Edited 2:45pm Jan 4, 2009 2:17pm | Edited 2:45pm
Quoting Toothman
Thank you Bob. I'm looking forward to trying this one. What kind of balance do you think would be appropriate to start with? Sure hope they don't do away with being able to buy and sell at the same time. Do you think we can work around new regulations if they were to be set in place by using separate accounts?
Only live tested this system 1 day. Margin usage was very low with only 5 levels. You could trade dimes (.10 micro or .01 mini or normal) with 500 dollars pretty easy. The buy sell is always available, we will test and see which one does better and which is safer to use over the long haul. Because of the simplicity of this new method you could trade it manually if you had too. You would need some kind of warning indicator so you could trade manually. This is a more traditional EA using range trading. This EA wont be trading both ways at the same time. Sell only above green line, buy only buy only below. Wont be hedging at all. Didnt have that in mind when I came up with this. Some guy emailed me with the idea of modified martingale mixed with a grid EA and this is what I came up with. I was looking for something to expand the range of an EA without using more and more money and margin. I stlll have the little guys at heart who dont have thousands of dollars to trade with. I still am not willing to put 5-10,000 dollars into forex trading. My wife would kill me if I ever lost that much. However, most people can find 500-1000 dollars to trade with if they can do it safely. 5 levels really changes the math on this and allows for bigger lots. Bigger lots, .10 cent or bigger trades allows more brokers to be used and hopefully one day FT trading.

My IRA is down to where it was 7 years ago and doesnt look so hot anymore. That is not because of forex trading but my bank handling my IRA. I need to find a safer and better return of my IRA for my retirement. If this EA can give me a steady safe return then I can self direct my IRA through IBFX. Thats the plan anyway. First need a safe secure method of trading Forex. Everyones dream huh???
  • #747
  • Jan 4, 2009 4:11pm Jan 4, 2009 4:11pm
A grateful heart goes to you Bob!! Many thanks.
Please how do you think this ea will play out with 5 decimal places brokers as some of us are using such? Already the template is not displaying properly.

Thank you heartfully,


Charles
  • #748
  • Jan 4, 2009 4:20pm Jan 4, 2009 4:20pm
Quoting nanningbob
Only live tested this system 1 day. Margin usage was very low with only 5 levels. You could trade dimes (.10 micro or .01 mini or normal) with 500 dollars pretty easy. The buy sell is always available, we will test and see which one does better and which is safer to use over the long haul. Because of the simplicity of this new method you could trade it manually if you had too. You would need some kind of warning indicator so you could trade manually. This is a more traditional EA using range trading. This EA wont be trading both ways at the same...
Bob,
Don't know why I was thinking buy,sell at same time . Guess I was stuck on the last aud/nzd EA.I hear you when it comes to this years stock market performance. My retirement date has probably been pushed forward by 5 years at least. Anyway, I like the looks of this new idea. I have it loaded up and ready to go tonight.
  • #749
  • Jan 4, 2009 4:23pm Jan 4, 2009 4:23pm
Quoting Charlyeze
A grateful heart goes to you Bob!! Many thanks.
Please how do you think this ea will play out with 5 decimal places brokers as some of us are using such? Already the template is not displaying properly.

Thank you heartfully,


Charles
Dont know. There will be some people who use those type of accounts will post the changes later. The template is simple, just use a 40MA and then put your levels in starting 80 and -80. Then have lines every 20 pips after that for 5 levels then one more at 150 from the +80 -80 line or 230 from the 40 MA.
  • #750
  • Edited 5:02pm Jan 4, 2009 4:48pm | Edited 5:02pm
Very cool Bob...My first entry was approx. 30 pips below the green line going short . I use GAIN which quotes 5 digits. I changed all the MA's and pip values to reflect the difference between 4 and 5 digit quotes. I may have missed a setting that I need to change. Would you happen to know which it might be? Or is it because of the spreads? I turned it on just as soon as trading started after the weekend. I love your bots. they are the work of a genius...
  • #751
  • Jan 4, 2009 5:02pm Jan 4, 2009 5:02pm
IBFX opening right now.
Does trading start earlier at GAIN?

Going to demo with 1k 24/5.
This time I won't wish for the worst possible week.
I already know how that looks like.
  • #752
  • Jan 4, 2009 5:11pm Jan 4, 2009 5:11pm
Quoting Charlyeze
A grateful heart goes to you Bob!! Many thanks.
Please how do you think this ea will play out with 5 decimal places brokers as some of us are using such? Already the template is not displaying properly.

Thank you heartfully,


Charles
I changed the following to make it work on 5 digit broker feeds.
Lots 0.01 for standard or micro acct
Take Profit 300
My money profit target 500.0
Pips 200
Stop loss 1500

Right click on the chart and open INDICATORS window on the left of the screen.

double click each MOVING AVG. and click on LEVELS and add a zero to each of the levels. that will get the indicator to work on the H1 chart.

Hope this helps. :nerd:
  • #753
  • Jan 4, 2009 5:12pm Jan 4, 2009 5:12pm
Quoting Tjpld
IBFX opening right now.
Does trading start earlier at GAIN?

Going to demo with 1k 24/5.
This time I won't wish for the worst possible week.
I already know how that looks like.
I'm in Florida and Gain starts at 5pm Sunday evening Down to a 13 pip spread pretty much within the hr. Looking for 8 pip or below by tomorrow.
  • #754
  • Jan 4, 2009 6:08pm Jan 4, 2009 6:08pm
with this new strategy and its being able to use larger intial lot sizes, isnt it still effected by the multiplication? (I may not be explaining well so heres an example).

IBFX multiply x 1.8

0.10 (mini = 10cents)
0.18
0.32
0.58 etc etc

Other brokers with just normal micro not nano lots (ie 1000 units not 100units like IBFX)

0.10
0.20
0.30
0.60

is that how they would multiply out on other brokers?

im just seeing cos if i was able to use a local broker it will help a great deal with regards to converting earnings back to $A for tax reasons
Grabbing the bull by the horns!
  • #755
  • Jan 4, 2009 6:10pm Jan 4, 2009 6:10pm
btw for those at work ie myself, whats the spreads looking like this morning/evening?
Grabbing the bull by the horns!
  • #756
  • Jan 4, 2009 6:36pm Jan 4, 2009 6:36pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting whitegoodman
btw for those at work ie myself, whats the spreads looking like this morning/evening?
AUD/NZD = 20 pips spread activetrades UK
19 gotrader AUS
  • #757
  • Jan 4, 2009 6:41pm Jan 4, 2009 6:41pm
Quoting Tradster
Very cool Bob...My first entry was approx. 30 pips below the green line going short . I use GAIN which quotes 5 digits. I changed all the MA's and pip values to reflect the difference between 4 and 5 digit quotes. I may have missed a setting that I need to change. Would you happen to know which it might be? Or is it because of the spreads? I turned it on just as soon as trading started after the weekend. I love your bots. they are the work of a genius...
Here I'm quoting myself.
I looked thru the code and found the following string
"//Sell order
// if(previousstoch>H_level && currentstoch<H_level)
if( Ask > Var3+(80*Point))// && Bid < Var5) // && Var3 < Var4) //Var3 < Var4 && Var5 > Var6 &&"
Isee where it says (80*Point). I believe by changing the number to 800 that will correct the problem of entering a trade when the PA is inbetween the green lines instead of being outside the green lines. But it won't let me compile the changes saying access denied. How do I get around that? Help, Help, Help.
  • #758
  • Jan 4, 2009 7:07pm Jan 4, 2009 7:07pm
Right now at 5:07 PST, it's at 14. Earlier, I saw it at 14 and 16. Let's hope it stays this way!
Quoting whitegoodman
btw for those at work ie myself, whats the spreads looking like this morning/evening?
  • #759
  • Jan 4, 2009 7:20pm Jan 4, 2009 7:20pm
Quoting Tradster
Very cool Bob...My first entry was approx. 30 pips below the green line going short . I use GAIN which quotes 5 digits. I changed all the MA's and pip values to reflect the difference between 4 and 5 digit quotes. I may have missed a setting that I need to change. Would you happen to know which it might be? Or is it because of the spreads? I turned it on just as soon as trading started after the weekend. I love your bots. they are the work of a genius...
If the pip spread is 30 pips it will enter 30 pips before the line. This how I want to attack the pip spread problem. Stay out of the middle. Hope that makes sense to you. The one problem i see is the stop loss when the spread hits bigger than 30. I am going to test this without a stop loss and see what happens. The pip spread has been causing margin problems for me so with only 4 or 5 entries I hope to solve that problem.
  • #760
  • Jan 4, 2009 7:22pm Jan 4, 2009 7:22pm
Quoting whitegoodman
with this new strategy and its being able to use larger intial lot sizes, isnt it still effected by the multiplication? (I may not be explaining well so heres an example).

IBFX multiply x 1.8

0.10 (mini = 10cents)
0.18
0.32
0.58 etc etc

Other brokers with just normal micro not nano lots (ie 1000 units not 100units like IBFX)

0.10
0.20
0.30
0.60

is that how they would multiply out on other brokers?

im just seeing cos if i was able to use a local broker it will help a great deal with regards to converting...
Yes that sounds right. I added Frosty's excell sheet with the numbers in them. I hope that helps and also you can test some numbers for yourself.
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