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Trading aud/nzd successfully

  • #921
  • Jan 11, 2009 5:41pm Jan 11, 2009 5:41pm
Nanningbob, not sure if I should post this question on this thread or the other one. My question is....if I want to have the EA make a buy or sell at a different distance from center, which numbers do I change? The H-level is now set at 90, and the L-level at 10. What is I want to have the EA make the first trade 100 PIPS away from center? Or, 120 from center? Or, any other amount. Thanks.
  • #922
  • Jan 11, 2009 5:44pm Jan 11, 2009 5:44pm
Quoting nanningbob
The one with the 5M takes its signals off of the 5M chart. The other one takes its signals off of the 1H chart. The 5M one will do more trades. We are comparing the two right now.
i reckon we should try and talk about the 5m and 1h version over in the other thread and keep this thread to talk about the original method of this EA. IE simultaneous buy and sell.

To avoid confusion
Grabbing the bull by the horns!
  • #923
  • Jan 11, 2009 6:19pm Jan 11, 2009 6:19pm
Quoting paradoxical
Nanningbob, not sure if I should post this question on this thread or the other one. My question is....if I want to have the EA make a buy or sell at a different distance from center, which numbers do I change? The H-level is now set at 90, and the L-level at 10. What is I want to have the EA make the first trade 100 PIPS away from center? Or, 120 from center? Or, any other amount. Thanks.
The code looks like this. You change the numbers in red. The + number is above the MA, the - number is below the MA. You will also need to change all the numbers on the template MA to see what your changes do on the chart. If you want to change the MA go to Var4 in the code and change the MA and time. Var3 is for the 1H Var4 is for the 5M


//Sell order

if( Ask > Var4+(50*Point))
{
myOrderType=1;//SELL
}

//buy order

if( Bid < Var4-(40 * Point))
{
myOrderType=2;//BUY
}
  • #924
  • Jan 11, 2009 6:30pm Jan 11, 2009 6:30pm
Quoting whitegoodman
i reckon we should try and talk about the 5m and 1h version over in the other thread and keep this thread to talk about the original method of this EA. IE simultaneous buy and sell.

To avoid confusion
However, they are basically the same EAs. The only difference is one is in the market at all times trading and the other is selective. I want to be able to trade 1.0 lots someday and the newer EAs will allow you to do that with a reasonable amount of money. That would be impossible without a huge sum of money with the other. The best way to handle is when you post to open the post with what EA you are testing. On the other hand you maybe right. Lets see how it goes and then start a new thread if we need to. But this thread should only be about the Aud/Nzd.
  • #925
  • Jan 11, 2009 6:32pm Jan 11, 2009 6:32pm
Quoting sniperfox84
Yup! confused juz like me, but i`ll try the 5m 30X20 EA default setting on 10 pairs tommorow, then see how it goes....wish me luck!! ^_^

Nanningbob is number EA programmer! applaused!!

Thankx Nanning Bob
I appreciate your enthusiasm but the other nine pairs will just stop loss out at the first big move. This EA system will only work on the Aud/Nzd dollar right now. Other currencies are just moving too much for this EA to be used on them. Even the Eur/Gbp is moving over 300 pips in one day right now and it used to be the slowest pair on the market.
  • #926
  • Jan 11, 2009 9:07pm Jan 11, 2009 9:07pm
Quoting nanningbob
However, they are basically the same EAs. The only difference is one is in the market at all times trading and the other is selective. I want to be able to trade 1.0 lots someday and the newer EAs will allow you to do that with a reasonable amount of money. That would be impossible without a huge sum of money with the other. The best way to handle is when you post to open the post with what EA you are testing. On the other hand you maybe right. Lets see how it goes and then start a new thread if we need to. But this thread should only be about the...
I agree. This thread is about aud/nzd and new EA should still remain here unless it's not trading aud/nzd
  • #927
  • Jan 11, 2009 9:19pm Jan 11, 2009 9:19pm
Quoting forexisfx
I agree. This thread is about aud/nzd and new EA should still remain here unless it's not trading aud/nzd
oh i thought the other thread started by arnold was meant for the new 5m and 1hr strategies... or is that just for his modified versions of it?
Grabbing the bull by the horns!
  • #928
  • Jan 11, 2009 9:43pm Jan 11, 2009 9:43pm
Quoting whitegoodman
oh i thought the other thread started by arnold was meant for the new 5m and 1hr strategies... or is that just for his modified versions of it?
Well its my thread, sort of, and I will post my EAs for this currency pair as I develop them. I know multiple EAs can be confusing but the guys who only can trade dimes now have an EA to test and use. I cant start a thread for each variation. Sorry this is confusing but I want peoples opinions and ideas, that is where my ideas come from.
  • #929
  • Jan 11, 2009 10:14pm Jan 11, 2009 10:14pm
Quoting nanningbob
Well its my thread, sort of, and I will post my EAs for this currency pair as I develop them. I know multiple EAs can be confusing but the guys who only can trade dimes now have an EA to test and use. I cant start a thread for each variation. Sorry this is confusing but I want peoples opinions and ideas, that is where my ideas come from.
yeh i understand perfectly, I just thought thats where all the discussion on the 5m and 1hr was going to take place...

from what I read on the original holy grail thread to me it draws similarity to how you originally wanted to use a stochastic to buy/sell when overbought and oversold...

on a side note i went live officially today with the original AUDNZD method...

i demo'ed 45x25, with 8 levels, 250SL and multiply of 1.6 with good results, able to trade US session reasonably well.

I also tried 40x30, 8 levels, 280SL, multiply of 1.7 which worked the same in terms of profitability except had a higher SL DD due to multiply 1.7, however had 30pip more range.

Ill update on the live account friday
Grabbing the bull by the horns!
  • #930
  • Jan 12, 2009 5:53am Jan 12, 2009 5:53am
Quoting nanningbob
I am with IBFX and I dont think there are min or max on transferring one account to another. I do believe you have to start a new account with 250 dollars. If you open a second account I think you can transfer any sum you want from an existing IBFX account. Check with them to make sure.
ibfx requires no minimum balance to open a live account
  • #931
  • Jan 12, 2009 7:28am Jan 12, 2009 7:28am
9 Trades this week sofar. Seems odd. Last week it made 24 in total.
Did not change any settings.
  • #932
  • Edited 10:59am Jan 12, 2009 10:37am | Edited 10:59am
I'm working with your 30X20 1hr template during overnight hours and have brought my 28.00 account up to 40.00. I just popped in to check on this thread and have seen your 5M variant. I am now running it during the day while working and will run the other overnight. I appreciate your hard work and I look forward to the race to 100.00. I will let you know how this strategy works out.

Thanks for the great work!

P.S. I am trading .01 lots and only going four trades deep at 200:1 leverage.
Zorro...
  • #933
  • Jan 12, 2009 10:58am Jan 12, 2009 10:58am
Quoting Zorro's Mask
I'm working with your 30X20 1hr template during overnight hours and have brought my 28.00 account up to 40.00. I just popped in to check on this thread and have seen your 5M variant. I am now running it during the day while working and will run the other overnight. I appreciate your hard work and I look forward to the race to 100.00. I will let you know how this strategy works out.

Thanks for the great work!
Well I margined out again today so I am down to 14 dollars. I have gone to penny trades so we will see if we can build back up again. It only went four pips over my margin before reversing. People accuse brokers of stop hunting, do the margin hunt?? If I margin out again I will put a 100 in it and go back to .05 that should be enough.

I know some people may read this and think we are ridiculous trading pennies. I think its ridiculous to trade hundreds or thousands of dollars on something that has not been proven for a long period of time. If you trade pennies your education costs are much cheaper than if you trade dollars. I think I am very close though to trading dollars and up. I am getting very comfortable with all versions of the Aud/Nzd EA. I am using my third account with IBFX to use a third version of this live but I will be using bigger lots there.
  • #934
  • Jan 12, 2009 11:11am Jan 12, 2009 11:11am
Quoting nanningbob
Well I margined out again today so I am down to 14 dollars. I have gone to penny trades so we will see if we can build back up again. It only went four pips over my margin before reversing. People accuse brokers of stop hunting, do the margin hunt?? If I margin out again I will put a 100 in it and go back to .05 that should be enough.

I know some people may read this and think we are ridiculous trading pennies. I think its ridiculous to trade hundreds or thousands of dollars on something that has not been proven for a long period of time. If you...

I think that to risk too much in the current economy would be foolish. I have been on the loosing side of trades that has cost me my account in the past. Although I am working with small amounts now, I fully expect to recoup my losses by being cautious with my strategies and limiting my losses. I applaud your efforts and I look forward to the additional modifications you make as you improve the system. I am also looking forward to trading full lots with you when we get our accounts to 1000. I guess I'm in the lead for now...lol

Keep up the good work and I look forward to the journey.
Zorro...
  • #935
  • Jan 12, 2009 11:15am Jan 12, 2009 11:15am
One other side note. I am not looking always trade small sums. I am working toward the goal of trading full time and successfully supporting my family with my efforts. I am currently in the building stage of my account and the learning continues. I have gleaned many useful tidbits from a number of people, including nanningbob and I look forward to using them to full advantage as my skills improve.

Patiently socking away pennies at a time.....
Zorro...
  • #936
  • Jan 12, 2009 11:15am Jan 12, 2009 11:15am
Quoting nanningbob
Well I margined out again today so I am down to 14 dollars. I have gone to penny trades so we will see if we can build back up again. It only went four pips over my margin before reversing. People accuse brokers of stop hunting, do the margin hunt?? If I margin out again I will put a 100 in it and go back to .05 that should be enough.

I know some people may read this and think we are ridiculous trading pennies. I think its ridiculous to trade hundreds or thousands of dollars on something that has not been proven for a long period of time. If you...
like you I tried to increase my lots & nearly blew the account, But I did it last week so I went from $40 to $20 and now it's at $45 ish (1H)

I had a similar disaster with my live acc' & managed to reduce it to £20, using another method, so I thought, what the hell, & put this EA on it last thurs, it's now £25 ish. (also 1H)

interesting that you hit margin today & I didn't the only differrence may be that I kept the lower gap at 80?

Steve.
  • #937
  • Edited 11:52am Jan 12, 2009 11:20am | Edited 11:52am
35X20 auz/nzd

Quite difficult to handle at the moment but I was able to get out of a 7 level trade with a moderate loss last night. Looks like today may be another difficult day. Removed 35x20 80MA and turned on the 30x20 40MA and will turn on the 30x20 5m 120MA. That's safer I think.
  • #938
  • Jan 12, 2009 11:28am Jan 12, 2009 11:28am
Quoting Arnold49
like you I tried to increase my lots & nearly blew the account, But I did it last week so I went from $40 to $20 and now it's at $45 ish (1H)

I had a similar disaster with my live acc' & managed to reduce it to £20, using another method, so I thought, what the hell, & put this EA on it last thurs, it's now £25 ish. (also 1H)

interesting that you hit margin today & I didn't the only differrence may be that I kept the lower gap at 80?

Steve.
Well you get the idea. I hate it when I read some guy put thousands into one of my EAs and loses it. I do have a large account but I dont talk about it because I dont want guys trying these yet with bigger accounts. The markets simply are too volatile and unknown right now to trade large unless you are really really good. Well good luck and yes I want to be a full time trader rather than work another 15 years until retirement.
  • #939
  • Jan 12, 2009 11:38am Jan 12, 2009 11:38am
Quoting nanningbob
Well you get the idea. I hate it when I read some guy put thousands into one of my EAs and loses it. I do have a large account but I dont talk about it because I dont want guys trying these yet with bigger accounts. The markets simply are too volatile and unknown right now to trade large unless you are really really good. Well good luck and yes I want to be a full time trader rather than work another 15 years until retirement.
sounds like your about the same age as me,

I started in Forex 15 months ago, after playing about with shares & indicies
for about 10 yrs, I've been through many methods, this one is the best I've seen, I'm hoping I can build the account back up to where it was & if we have perfected it, maybe switch to spread betting as it's tax free here.

Steve.
  • #940
  • Jan 12, 2009 11:43am Jan 12, 2009 11:43am
Quoting nanningbob

I know some people may read this and think we are ridiculous trading pennies. I think its ridiculous to trade hundreds or thousands of dollars on something that has not been proven for a long period of time. If you trade pennies your education costs are much cheaper than if you trade dollars.

This quote should be in the sticky section. I can not agree with you more Bob. I learned the hard way 2 and a half years ago when I first started trading. Because of this, I am still so far in the red it is not even funny.
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