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Trading aud/nzd successfully

  • #881
  • Jan 9, 2009 12:51am Jan 9, 2009 12:51am
Quoting paradoxical
Not sure if anyone follwed this thread, which was started by a guy named OAN, and is called my own developed benkyalate system
It uses a GOG line, and entries are made on either side of the COG line as the pair moves a certain distance of PIPS away from the center. With this new and fantastic EA, it is close to the above system, which is also a fine system for determining when a pair is moving to extremes from the center line. The above system would give a minor signal at about 50, and a major one at 100 PIPS away. I know, I know....the...

For the slower moving pairs 100-150 will probably work but for the big movers like gbp/jpy are gonna need a 3-400 pip range. I will work on that this weekend. I am going to try to stay in the 4 or 5 level range so I can trade bigger amounts
  • #882
  • Jan 9, 2009 3:15am Jan 9, 2009 3:15am
Quoting nanningbob
For the slower moving pairs 100-150 will probably work but for the big movers like gbp/jpy are gonna need a 3-400 pip range. I will work on that this weekend. I am going to try to stay in the 4 or 5 level range so I can trade bigger amounts
I am looking forward to your new thread on the other pairs.

In the meantime I am patiently following the moves of aud/nzd waiting for the spread to narrow and make it more profitable to trade.
  • #883
  • Jan 9, 2009 4:54am Jan 9, 2009 4:54am
Quoting Trader7
I am looking forward to your new thread on the other pairs.

In the meantime I am patiently following the moves of aud/nzd waiting for the spread to narrow and make it more profitable to trade.
You dont have to wait. If the spread is 40 pips price must move 70 to get the 30 pip profit but it is still a 30 pip profit. It is why I went to 30 pips so I would get it.
  • #884
  • Jan 9, 2009 5:13am Jan 9, 2009 5:13am
Quoting tommyd
here is a template for the 5 min for a 5 digit broker

Have added all the 0's into the EA as well so nothing but the lot's needs attention.

Looking forward to your ATR version Steve.
will try to post it tonight, either here or on the new? thread, no promises mind, it's the wifes birthday!

Steve.
  • #885
  • Jan 9, 2009 6:22am Jan 9, 2009 6:22am
Hi Nanningbob,

Something else you might consider since there is a fair bit of brainstorming going on.

Rather than the ea place a limit or market order(for sells) you could place a stop order under the price which should help in sudden spikes.

For example, when the market moves up rapidly place your sell orders as stop orders 20 pips below the price. If its a fast moving market in the wrong direction(up) the orders won't be filled, which is good to avoid a stop loss. But as the market starts to retrace our orders are sitting there waiting to be filled. The idea is to fill the orders on the way down not on the way up!
  • #886
  • Jan 9, 2009 7:56am Jan 9, 2009 7:56am
Quoting waltini1
Hi Nanningbob,

Something else you might consider since there is a fair bit of brainstorming going on.

Rather than the ea place a limit or market order(for sells) you could place a stop order under the price which should help in sudden spikes.

For example, when the market moves up rapidly place your sell orders as stop orders 20 pips below the price....
Sounds like a great idea, instead of a stop loss you get a stop start. I think that would work better on the faster moving currencies. I have trouble finding a range the gbp/jpy would fit in.
  • #887
  • Jan 9, 2009 9:36am Jan 9, 2009 9:36am
Quoting nanningbob
For the slower moving pairs 100-150 will probably work but for the big movers like gbp/jpy are gonna need a 3-400 pip range. I will work on that this weekend. I am going to try to stay in the 4 or 5 level range so I can trade bigger amounts
I had planned on staying away from the JPY pairs altogether for that reason. Testing the EA using 60X40 on several other pairs on the one hour chart with a 300 PIP stop, I had three winneres last night on the USD/CAD, AUD/CAD & EUR/USD without them going past the first level.
This is with the entry per the EA setting of 80 PIPS from the center.
If you have a way of determining better entries, such as 100, 125, or 150 or whatever away from the center line along with the distance away for additional buys on each pair, as an average, that would be absolutely fantastic.
I love the idea of buying or selling at extremes, even though that produces less trades. IMHO, those trades are high probability trades. If your EA will enter these trades for me while I'm away or sleeping, what more can one ask?
  • #888
  • Jan 9, 2009 10:04am Jan 9, 2009 10:04am
Ok here are my results for the week. This is live money not a demo. The EA made 15 profitable closes starting at .15 lots. That averages to 3 profitable trades a day at 30 pips a trade. So 90 pips a day average. The original starting balance was 168 dollars and I went only 4 levels deep. I did not want to margin out so 4 levels is all I used. My profit for the week was 86.31 for an average of 5.75 a closed trade set. The beauty of this system was its low margin usage. You will see one dip in the chart, that was not from my EA but a closed trade I had held over the weekend. My increase in the account was 42%. You gotta love it. Another week like that and I will have to put some serious money on this one.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 5 KB
  • #889
  • Jan 9, 2009 10:25am Jan 9, 2009 10:25am
sorry, but I'm all confused about what pairs are being talked about and what ea's are being used on what and ..... is it the 5min chart or the 1 hr chart.

I'm happily trading the 35x20 on audnzd live with beautiful gains.
  • #890
  • Jan 9, 2009 10:33am Jan 9, 2009 10:33am
I was one of the ones talking about other pairs, which I think this new EA would work great on. I think Bob may decide to start a new thread.
Quoting Tradster
sorry, but I'm all confused about what pairs are being talked about and what ea's are being used on what and ..... is it the 5min chart or the 1 hr chart.

I'm happily trading the 35x20 on audnzd live with beautiful gains.
  • #891
  • Jan 9, 2009 3:23pm Jan 9, 2009 3:23pm
All,
I have opened a new thread to discuss other markets,as Bob suggested, to help keep this thread clear, and I have started the ball rolling by posting my version of his EA that uses ATR for the buffer zone,
hopefully Bob will post his new method there (that's what is was opened for)

Bobnannings Range trading method
  • #892
  • Jan 9, 2009 3:29pm Jan 9, 2009 3:29pm
Quoting Arnold49
All,
I have opened a new thread to discuss other markets,as Bob suggested, to help keep this thread clear, and I have started the ball rolling by posting my version of his EA that uses ATR for the buffer zone,
hopefully Bob will post his new method there (that's what is was opened for)

Bobnannings Range trading method
Alright, lets go over to Arnold's place to discuss other uses for this system and we can leave this thread for just Aud NZD discussion. Thanks
  • #893
  • Jan 9, 2009 5:46pm Jan 9, 2009 5:46pm
Quoting nanningbob
Ok here are my results for the week. This is live money not a demo. The EA made 15 profitable closes starting at .15 lots. That averages to 3 profitable trades a day at 30 pips a trade. So 90 pips a day average. The original starting balance was 168 dollars and I went only 4 levels deep. I did not want to margin out so 4 levels is all I used. My profit for the week was 86.31 for an average of 5.75 a closed trade set. The beauty of this system was its low margin usage. You will see one dip in the chart, that was not from my EA but a closed trade...
Very nice Bob. That's some serious return on $168. Were you using a 1.8 multiplier, no stoploss? Are you still using 80 as the buffer on the bottom or have you changed it to 70? I ran default settings all week starting at .1 lots and ended up with a $56.75 profit. 21 profitable trades. Love the low margin used.
  • #894
  • Jan 9, 2009 7:15pm Jan 9, 2009 7:15pm
Quoting nanningbob
Ok here are my results for the week. This is live money not a demo. The EA made 15 profitable closes starting at .15 lots. That averages to 3 profitable trades a day at 30 pips a trade. So 90 pips a day average. The original starting balance was 168 dollars and I went only 4 levels deep. I did not want to margin out so 4 levels is all I used. My profit for the week was 86.31 for an average of 5.75 a closed trade set. The beauty of this system was its low margin usage. You will see one dip in the chart, that was not from my EA but a closed trade...
Ur result is based on 1H or 5 Mins EA ?
  • #895
  • Jan 9, 2009 7:39pm Jan 9, 2009 7:39pm
Quoting forexisfx
Ur result is based on 1H or 5 Mins EA ?
That was the 1H, here is the chart for the week, price stayed between the 1st red lines which is the 5th level. I did not have the 5th level turned on I only used 4 level reentry. I did this with a higher lot size so I wouldnt wipe out the account if it hit the stop loss. The second red line is your stop loss. My long term goal is to use bigger lot sizes and make some really decent money with this. As the account increases I will increase lot size. I will post the 5M results later today.
Attached Image (click to enlarge)
Click to Enlarge Name: 1h 30x20 aud nzd.gif Size: 28 KB
  • #896
  • Jan 9, 2009 9:00pm Jan 9, 2009 9:00pm
Quoting nanningbob
That was the 1H, here is the chart for the week, price stayed between the 1st red lines which is the 5th level. I did not have the 5th level turned on I only used 4 level reentry. I did this with a higher lot size so I wouldnt wipe out the account if it hit the stop loss. The second red line is your stop loss. My long term goal is to use bigger lot sizes and make some really decent money with this. As the account increases I will increase lot size. I will post the 5M results later today.
looking forward to see 5M results and compare the ranges of both timeframes and which is more 'risky' in terms of reaching SL hit
Grabbing the bull by the horns!
  • #897
  • Edited Jan 10, 2009 12:11am Jan 9, 2009 11:56pm | Edited Jan 10, 2009 12:11am
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...
First I want to thank Frost Call for his template and Whitegoodmans work on revising it. I changed FrostCalls template so it now shows the second level. There was a small mistake in the math on that level and some of the following but I think I have corrected it. Here is Frost calls version with the mistakes corrected. I still have not been able to make an exact match on lots with what IBFX shows. They are off a little but not enough to give you a ball park figure of the numbers you will be using.
Attached File(s)
File Type: xls FrostCall ver. 5.0.xls   28 KB | 294 downloads
  • #898
  • Edited 12:26am Jan 10, 2009 12:04am | Edited 12:26am
Quoting Toothman
Very nice Bob. That's some serious return on $168. Were you using a 1.8 multiplier, no stoploss? Are you still using 80 as the buffer on the bottom or have you changed it to 70? I ran default settings all week starting at .1 lots and ended up with a $56.75 profit. 21 profitable trades. Love the low margin used.
1H TF comment (I think I will add this statement when I write about each EA so as not to confuse people about which EA I am talking about.) If we practice this it will not be so confusing to newcomers or oldcomers for that matter.

ON Thursday I changed to 70 on the bottom. Used no stop loss because the amount in my account was my stop loss. When I pass 300 I will put a stop loss in and trade less than 50% of the account. I just didnt want a quick spike take out a useless stop loss. Using the margin call actually saves more money than a stop loss would do when you use this small amount of money. So for those of you who panic at no stop loss my margin call is my stop loss for now. I will change that as the account gets bigger, when my stop loss would be smaller than a margin call.

I also stayed with the 1.8 multiplier, I dont know what change would be better, a higher multiplier like 2.0 or higher lots. Be an interesting study. The main purpose of this method is to go with higher lots and still have a reasonable stop loss that is managable.
  • #899
  • Jan 10, 2009 12:08am Jan 10, 2009 12:08am
NOW THE 5M EA LIVE TRADING NO DEMO
I started the week around 28 dollars in the account and it doubled to 56. I used 4 levels at .05 lots. The first level was +50 above a 120 MA median and -40 below the 120 MA median on a 5M chart. When the account doubled I change the lots to .10 and the first trade was the biggest move of the week and the account margined out and dropped back to below 26. I went back to .05 lots and ended the week at 35.00 dollars so totaled 7 dollar increase. If I hadn't change the lots. The one margin call trade would have been a winner along with my other winnings and would have approach 40 dollars for the week. I will run the EA again this next week and see if it continues using such very little margin. I was tempted to add a 100 or 200 to the account but I want to see if I can start with such a small sum and build it up. Here is a pic of the last 4 days on the screen and equity chart.

I didnt notice this until after I posted it but the equity curve also follows how it went with the chart. The time frames betwen the two are about equal, cool, I never have done that before. The dip where I margined out happen on Thursday. You can see that if I had stayed with .05 I would not have margined out. AND like usual, everytime I take a little risk and try to overextend that is when the biggest move happens and I got burned.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audnzd 5m 4 days.gif Size: 33 KB
Click to Enlarge Name: DetailedStatement.gif Size: 5 KB
  • #900
  • Jan 10, 2009 12:20am Jan 10, 2009 12:20am
Bob,
Calculation differs for multiplication below and above 1.5 level, I think.
I have altered it and I am posting it here. Please check whether it is giving correct values, should not matter much anyway.

So much happening here, I am pretty excited about possibilties. You mentioned earlier about your account size of $29? Which broker are you using? When you have sub-account with IBFX, is there any limitation on minimum amount that can be transferred?

Thanks.
Attached File(s)
File Type: xls finder3-altered3.xls   40 KB | 267 downloads
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