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Trading aud/nzd successfully

  • #781
  • Jan 5, 2009 2:58am Jan 5, 2009 2:58am
nanningbob, this new method of trading sounds great. Going forward, we could use it with some adjustment for 18 currency pair just like 100x80 but with much less margin and much more profit
  • #782
  • Jan 5, 2009 3:06am Jan 5, 2009 3:06am
Quoting forexisfx
nanningbob, this new method of trading sounds great. Going forward, we could use it with some adjustment for 18 currency pair just like 100x80 but with much less margin and much more profit
bingo, just need to eyeball a few charts/currencies to see what numbers will work
Grabbing the bull by the horns!
  • #783
  • Jan 5, 2009 5:53am Jan 5, 2009 5:53am
Strted the EA right after market open Sunday at .10, and plus $16.71 with a $1.30 floating loss for a net of $15.41.
I like this one a lot better than the other one. Less trading. Less commission. Off to a good start.
  • #784
  • Edited 7:38am Jan 5, 2009 7:24am | Edited 7:38am
Quoting nanningbob
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.
Yes, I see that the pip spread is a problem when entering. When going short the buy price rises above the green line and the sell price is below the green line then you will have a stoploss below the outer thick red line. Maybe one would want to add the avg spread to the 80 pip distance from 40 MA. Say your broker generally has a spread of 14 pips then add that to the 80 to get as close as possible to the green line.
You said that you had changed "bid" to "ask" and "ask" to "bid" in the coding which would essentially fix it however you then gave up 50 % of the profits but also reducing your risk substantially. Now here is the big cahoona question. Since the PA always drops back to mean after running the big fat red line it may be extremely profitable to not use a stop at all with the understanding that when it goes wild one is going to have a nervous breakdown. Getting paid to have a nervous meltdown could be a suitable job description. I mean, YOU KNOW IT'S GOING TO COME BACK AND TAKE PROFIT.. Imagine you get hit on the stoploss giving up all those profits you made before and then it comes back and and you would not have had the loss and actually would have taken a nice profit. This did happen to me with a demo acct. Gave up over $300 just to watch it retrace.
  • #785
  • Jan 5, 2009 7:51am Jan 5, 2009 7:51am
Quoting Tradster
Since the PA always drops back to mean after running the big fat red line it may be extremely profitable to not use a stop at all with the understanding that when it goes wild one is going to have a nervous breakdown. Getting paid to have a nervous meltdown could be a suitable job description. I mean, YOU KNOW IT'S GOING TO COME BACK AND TAKE PROFIT.
That's the problem, how do u know it will come back this time round ? If u knew, wouldn't u bet 50 lot on it ? If u knew something is gonna happen for sure, all u need is just 1 GOOD trade and u can retire for the rest of your life.
  • #786
  • Jan 5, 2009 8:08am Jan 5, 2009 8:08am
Quoting forexisfx
nanningbob, this new method of trading sounds great. Going forward, we could use it with some adjustment for 18 currency pair just like 100x80 but with much less margin and much more profit
YES testing now. AUD/NZD was the easiest to eyeball and set up, however the others are not. The EUR/USD had a nice 5 day run in December with almost no retrace. A real killer.
  • #787
  • Jan 5, 2009 8:13am Jan 5, 2009 8:13am
Quoting Tradster
Yes, I see that the pip spread is a problem when entering. When going short the buy price rises above the green line and the sell price is below the green line then you will have a stoploss below the outer thick red line. Maybe one would want to add the avg spread to the 80 pip distance from 40 MA. Say your broker generally has a spread of 14 pips then add that to the 80 to get as close as possible to the green line....
As long as price is above/below the green line the EA keeps entering even after a stop loss. REMEMBER THE GREEN LINE IS ONLY THE FIRST TIME ENTRANCE, AFTER THAT IT CONTINUES TO ENTER WHEREEVER AFTER THE FIRST TP. IF THAT IS 100 PIPS ABOVE THE GREEN LINE THAT IS WHERE THE NUMBERS START AND EVERYTHING IS 100 PIPS HIGHER INCLUDING THE SL. I am testing this on mine without at stop loss but guys go crazy if I dont have one in. With enough margin and only 5 levels you should be able to outlast any run but again this is forex, anything can happen.
  • #788
  • Jan 5, 2009 8:15am Jan 5, 2009 8:15am
Quoting forexisfx
That's the problem, how do u know it will come back this time round ? If u knew, wouldn't u bet 50 lot on it ? If u knew something is gonna happen for sure, all u need is just 1 GOOD trade and u can retire for the rest of your life.
YEAH just one time wouldnt you like to hit one of those 500 pip moves on the gbp/jpy hmmmmmmmmmmmmmmmmmmm?????
  • #789
  • Jan 5, 2009 8:17am Jan 5, 2009 8:17am
Quoting Tradster
Yes, I see that the pip spread is a problem when entering. When going short the buy price rises above the green line and the sell price is below the green line then you will have a stoploss below the outer thick red line. Maybe one would want to add the avg spread to the 80 pip distance from 40 MA. Say your broker generally has a spread of 14 pips then add that to the 80 to get as close as possible to the green line....
I started with 50 and added another 30 to cover the pip spread. I think that should be enough. Now if we start seeing 70 pip spreads. Then we can play the shoot the broker game.
  • #790
  • Jan 5, 2009 8:20am Jan 5, 2009 8:20am
Quoting forexisfx
That's the problem, how do u know it will come back this time round ? If u knew, wouldn't u bet 50 lot on it ? If u knew something is gonna happen for sure, all u need is just 1 GOOD trade and u can retire for the rest of your life.
That's the problem!
  • #791
  • Jan 5, 2009 8:30am Jan 5, 2009 8:30am
Quoting nanningbob
I started with 50 and added another 30 to cover the pip spread. I think that should be enough. Now if we start seeing 70 pip spreads. Then we can play the shoot the broker game.
This Ea is awesome. I guess we will always try to perfect that which is perfect. This bot has this feel of being close to perfect as an ea could be. i went to bed last night with not a worry at all about what I will find when I get up. Was up $83 with a beginning lot of .03 standard acct. $1600 starting acct balance.

  • #792
  • Jan 5, 2009 8:39am Jan 5, 2009 8:39am
nanningbob excuse me but this is the first time im in your thread and it looks promising...if uploaded the EA but little bit confused...

if i have the EA do i need to put the ma's in the chart also?

thanx
  • #793
  • Jan 5, 2009 8:51am Jan 5, 2009 8:51am
Quoting forexisfx
i think the best part is we are able to trade 1,000 base currency with little amount of money which means we are not stuck with only trading with IBFX nano lot.

I have a few question for nanningbob.

1) Why use MA based on 1 H TF ? Why not 5 mins chart or any other time frame ?

2) All the lines together looks like COG (center of gravity) indicator. I know that COG repaints, does the template u provided repaint as well ?

Lastly, AUDNZD magic is on lower TF (bounds up and down), higher TF like 1H don't make full advantage of it's character. Maybe...
First I want to apologize to you for blowing away your 5 min chart suggestion. I went ahead and took a closer look at the idea using a 120 MA and starting 50 above and below. You actually had a great suggestion just needs a different MA. This is what it looks like and I will set up demo later and try the idea.
Attached Image (click to enlarge)
Click to Enlarge Name: 5m 30x20.gif Size: 27 KB
  • #794
  • Jan 5, 2009 9:02am Jan 5, 2009 9:02am
sorry 4 the silly question just got my anser coz the ea took a sell
thanx anyway
  • #795
  • Jan 5, 2009 9:04am Jan 5, 2009 9:04am
Quoting hollandpippin
nanningbob excuse me but this is the first time im in your thread and it looks promising...if uploaded the EA but little bit confused...

if i have the EA do i need to put the ma's in the chart also?

thanx
I included the MA in the template but the EA runs without the MA on the screen. The MA screen is there just to help you see and visualize what the EA is suppose to do. One picture is worth a thousand words.
  • #796
  • Jan 5, 2009 9:13am Jan 5, 2009 9:13am
Quoting hollandpippin
nanningbob excuse me but this is the first time im in your thread and it looks promising...if uploaded the EA but little bit confused...

if i have the EA do i need to put the ma's in the chart also?

thanx
Holland,

Did you add the template (.tpl) file to the templates folder? If you did, all you have to do is right click on the chart, select templates and click on the '30x20 buy sell' template. That will add all the visual aspects to the chart.

Hope that helps
"The market giveth and the market taketh away"
  • #797
  • Jan 5, 2009 9:15am Jan 5, 2009 9:15am
thanx urbanfx and nanningbob for reacting so quickly much appreciated

btw happy new year and let the pips flow instead of champagne...
  • #798
  • Jan 5, 2009 12:58pm Jan 5, 2009 12:58pm
This may seem like a silly question but am going to ask anyway.

If the EA places a SELL ABOVE the green line, and the price continues to rise to the next yellow line, I assume the EA places another SELL. Does the EA take a profit from the price rising from the green to the first yellow at the same time? (ie it opened a buy and sell at the green line)?

Thanks for your time and all your efforts.

Andy
  • #799
  • Jan 5, 2009 1:16pm Jan 5, 2009 1:16pm
Quoting drandycollings
This may seem like a silly question but am going to ask anyway.

If the EA places a SELL ABOVE the green line, and the price continues to rise to the next yellow line, I assume the EA places another SELL. Does the EA take a profit from the price rising from the green to the first yellow at the same time? (ie it opened a buy and sell at the green line)?

Thanks for your time and all your efforts.

Andy
The Ea will close all trades when the profit target of the last trade made is met. If you are now on the 3rd open trade and the profit target of trade 3 is hit, then trade 2 and 1 are closed also at the same time leaving you with a profit.
  • #800
  • Jan 5, 2009 1:43pm Jan 5, 2009 1:43pm
Thanks,

but does the EA profit at all when price moves from the upper green line to the first yellow level? Obviously this would require a LONG position to be opened at the upper green line, and Bob said that only sells are opened above the upper green line?

Just wanted to confirm that. - thanks
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