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Trading aud/nzd successfully

  • #801
  • Jan 5, 2009 3:54pm Jan 5, 2009 3:54pm
Quoting drandycollings
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
No, there will be no long trades above green line below the 40ma, there will be no short trades below the green line above the 40 ma. Did I say that right? yes.

The second trade will be opened to go short 20 pips above the first trade entry. The second trade would have to go short 30 pips to take profit and the first trade would close with a 10 pip profit. Remember that the second trade is 1.8 times the lot size of the previous trade to ensure that if you go 5 levels deep and the 5th trade takes profit then the sum of the whole 5 lot of trades is profitable.
Example of my trades last night... 1 st lot using standard acct 0.03lots (30 cents)/pip second lot 0.05 lot (50 cents)/pip third lot 0.09 lot (90 cents)/pip

1st $-1.49
2nd $ 2.84
3rd $ 15.99

Total $ 17.34
  • #802
  • Jan 5, 2009 3:57pm Jan 5, 2009 3:57pm
Quoting drandycollings
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

no, this EA does not sell & buy at the same time

Steve.
  • #803
  • Jan 5, 2009 3:59pm Jan 5, 2009 3:59pm
Quoting drandycollings
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
tradsters not getting what you asked, but no a buy is not opened, its different to the orignal there is only sells or buy positions open at one time, not both...
Grabbing the bull by the horns!
  • #804
  • Jan 5, 2009 4:10pm Jan 5, 2009 4:10pm
Quoting whitegoodman
tradsters not getting what you asked, but no a buy is not opened, its different to the orignal there is only sells or buy positions open at one time, not both...
Sorry about that...
  • #805
  • Jan 5, 2009 4:12pm Jan 5, 2009 4:12pm
Hi Bob,

I loaded the new EA and made all the adjustments for 5 digit trading,
just closed the first successful trade of the year!

I'm running this on a demo acc' with $40 in it!

we'll see what happens (0.01 lots)

thanks for all your hard work.
Steve.
  • #806
  • Jan 5, 2009 4:51pm Jan 5, 2009 4:51pm
Nanningbob, in looking back at the chart, it's a very nice picture and kudos to you for thinking of this and figuring it all out. I like the less trading along with the fewer levels, also. Will demo this for a week or so before going live, but looks very good so far.
On the spreadsheet, I get some very different figures than is shown. It looks like it skips level 2 for some reason. In any event, I get a loss if stopped out at .30 of $353.20, and the sheet shows a much higher loss, even when figuring the ratio to the dollar.
When I get time, want to see how this looks on other currencies.
  • #807
  • Edited 6:42pm Jan 5, 2009 4:58pm | Edited 6:42pm
Quoting paradoxical
Nanningbob, in looking back at the chart, it's a very nice picture and kudos to you for thinking of this and figuring it all out. I like the less trading along with the fewer levels, also. Will demo this for a week or so before going live, but looks very good so far.
On the spreadsheet, I get some very different figures than is shown. It looks like it skips level 2 for some reason. In any event, I get a loss if stopped out at .30 of $353.20, and the sheet shows a much higher loss, even when figuring the ratio to the dollar.
When I get time, want...
yeh the spreadsheet bob put in his zip on page 50 is wrong cos it skips level 2 for some reason, use use the 'older' versions of it (by older its exactly the same except maby you have to change ROUNDUP to just ROUND in one of the columns).

Also considering im going with a broker that does not use nano lots and we are multiplying by 1.8 is there a way i can configure the spreadsheet to round to 1 decimal place?

as currently the first lot is 0.1 then it goes to 0.2 (rounded up from 0.18), then i presume (havent seen level 3 yet) that it does 1.8 x 0.2?? instead of 1.8 x 0.18 and then rounds to 1dp??

EDIT: in excel you do =ROUND(whatever number,1)
Grabbing the bull by the horns!
  • #808
  • Edited 7:01pm Jan 5, 2009 6:46pm | Edited 7:01pm
You can take this for what it's worth but when you run this EA (default settings except no stoploss) through the MT4 tester, a $500 balance survives the week of Oct. 5th-10th. There was a horrible spike in the aud/nzd on the 8th that week.
  • #809
  • Jan 5, 2009 7:18pm Jan 5, 2009 7:18pm
Quoting paradoxical
Nanningbob, in looking back at the chart, it's a very nice picture and kudos to you for thinking of this and figuring it all out. I like the less trading along with the fewer levels, also. Will demo this for a week or so before going live, but looks very good so far.
On the spreadsheet, I get some very different figures than is shown. It looks like it skips level 2 for some reason. In any event, I get a loss if stopped out at .30 of $353.20, and the sheet shows a much higher loss, even when figuring the ratio to the dollar.
When I get time, want...
The spread sheet is based on a dollar a point whereas the Aud/Nzd trades around .65 cents a point. That will get you closer to the real figures. For example if i want to trade .20 live I would put .12 in the excell sheet to get my closest approximate figures for the Aud/Nzd. As the Aud changes versus the dollar the exchange rate needs to change for the Aud/Nzd. I hope I said that right.
  • #810
  • Edited 7:40pm Jan 5, 2009 7:30pm | Edited 7:40pm
Quoting Toothman
You can take this for what it's worth but when you run this EA (default settings except no stoploss) through the MT4 tester, a $500 balance survives the week of Oct. 5th-10th. There was a horrible spike in the aud/nzd on the 8th that week.
I have only witnessed one spike ever with my EA and this is what happened. What I mean by a spike is in a 1 minute period the price will move several hundred pips. This is what happened but it does not mean it will always do this. This was on one of my EAs that did both buys and sells.

The next sell level is hit first and the EA tried to open the next sell but price is moving so quickly it cant. Next was a buy level. When it hit its peak and hesitated since the sell was trying to enter first, the next sell entered. When price went back down the sell close was activated but couldnt close because price moved so quickly. When price got back to where it was from the spike, all the buys and sells closed because everything had been activated but the sell that was entered at the peak made a 270 dollar profit and covered all the losses for a total profit of 240+. Because the next level sell was activated before the stop loss was activated it had to handle that first before the stop loss. It was weird to watch and I know there is no guarantee of it doing that again but that is what happened the only time I ever witnessed it.
  • #811
  • Jan 5, 2009 7:41pm Jan 5, 2009 7:41pm
Quoting Arnold49
Hi Bob,

I loaded the new EA and made all the adjustments for 5 digit trading,
just closed the first successful trade of the year!

I'm running this on a demo acc' with $40 in it!

we'll see what happens (0.01 lots)

thanks for all your hard work.
Steve.
I am doing a live account with 29 dollars in it so we will see what happens. Who gets to 100 first
  • #812
  • Jan 5, 2009 7:47pm Jan 5, 2009 7:47pm
As far as using this system with other currencies I had several demos of 3000 cleaned out yesterday by the big moves. Especially from the CHF pairs. I had several stop losses hit and the GBP/CHF, EUR/NZD cleaned out one account. So will have to go wider or not use certain pairs.
  • #813
  • Jan 6, 2009 7:14am Jan 6, 2009 7:14am
AUDCAD maybe?
"The market giveth and the market taketh away"
  • #814
  • Jan 6, 2009 7:16am Jan 6, 2009 7:16am
Bob, Back in the summer months like the middle of June, how would we have needed to alter the settings to get it to trade? Would this line in the code(OpenOrdersBasedon=16) be the only change you would have to make? What would you need to change the 16 to ,to get it to trade say from June 16th-June30th? Thanks
  • #815
  • Jan 6, 2009 8:02am Jan 6, 2009 8:02am
Quoting Toothman
Bob, Back in the summer months like the middle of June, how would we have needed to alter the settings to get it to trade? Would this line in the code(OpenOrdersBasedon=16) be the only change you would have to make? What would you need to change the 16 to ,to get it to trade say from June 16th-June30th? Thanks
I am not sure what you are asking. Why would you have to change the code to get it to trade certain days? Are you referring that maybe the price does not move enough to trade?? If that becomes a problem you would just narrow the trading range. Right now it is 80 but you could reduce it to 40 or 20. In my demo test of using a 5M 120 MA I am getting more trades, but I have not incresed my risk. I am not sure what I am suppose to answer.
  • #816
  • Jan 6, 2009 11:41am Jan 6, 2009 11:41am
Quoting nanningbob
I am not sure what you are asking. Why would you have to change the code to get it to trade certain days? Are you referring that maybe the price does not move enough to trade?? If that becomes a problem you would just narrow the trading range. Right now it is 80 but you could reduce it to 40 or 20. In my demo test of using a 5M 120 MA I am getting more trades, but I have not incresed my risk. I am not sure what I am suppose to answer.
Sorry I wasn't clear. What line in the code would need to be altered to narrow the trading range if necessary.
  • #817
  • Jan 6, 2009 12:00pm Jan 6, 2009 12:00pm
Quoting Toothman
Sorry I wasn't clear. What line in the code would need to be altered to narrow the trading range if necessary.
Look right at the bottom of the code and you will find these lines:

Inserted Code
if( Ask > Var3+(80*Point))
if( Bid < Var3-(80*Point))

Change the 80 to whatever you want to narrow/extend the range to.

Hope that helps.
"The market giveth and the market taketh away"
  • #818
  • Jan 6, 2009 1:37pm Jan 6, 2009 1:37pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
the template doesnt fit to the 5 digit chart...
  • #819
  • Jan 6, 2009 1:51pm Jan 6, 2009 1:51pm
Quoting onu
the template doesnt fit to the 5 digit chart...
Right click on the chart and select 'indicators list', edit each MA by adding a 0 onto it and you are good to go.

More importantly, have yu made the necessary changes to the EA though for the 5 digit chart. The template and the EA have nothing to do with eachother per se, the template is just a visual representation of the EA
"The market giveth and the market taketh away"
  • #820
  • Jan 6, 2009 1:57pm Jan 6, 2009 1:57pm
Quoting urbanFX
Look right at the bottom of the code and you will find these lines:

Inserted Code
if( Ask > Var3+(80*Point))
if( Bid < Var3-(80*Point))
Change the 80 to whatever you want to narrow/extend the range to.

Hope that helps.
Yes that is correct. Thanks Urban.
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