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Trading aud/nzd successfully

  • #1,001
  • Jan 13, 2009 2:53am Jan 13, 2009 2:53am
Quoting forexisfx
I wouldnt have much guts to do this becoz buying now it's like buying high. Looking at the chart reminds me of Oct 2008
There is no reason for anyone to buy the NZD. I have seen this before with the Cad, nzd, aud, they will just run and run and run. They are such small currencies that against the big ones they will just get crushed. I dont have anything on the aud nzd because they are both minor but the nzd versus any major is gong to get crushed. This time I am going to ride it. I have seen the Cad move days at a time without any major retracement. I just didnt know what the news was that made it move like that. This time I got the news story. Being downgraded for the first time in 10 years is big, real big.
  • #1,002
  • Jan 13, 2009 7:14am Jan 13, 2009 7:14am
My 30/20 1H is still alive only because I was trading four levels. I'll let you know if it survives the week. Started with $250 at .15 lots.
  • #1,003
  • Jan 13, 2009 8:55am Jan 13, 2009 8:55am
Quoting Tradster
I've been trolling forexfactory to find code that could be implemented in the ea's and have found the following post by

EAProgrammer...
ok. here is the latest version, it has the following new features;

1. spread_less_than = 8
if you want the EA to only trade when spread is 8 or less set this to 8.

2. Buffer= 800
distance to 1st trade from MA (eg; 800=80)

3. Ma_period= 40
set MA to what you want, 40, 120 etc.

4. WARNING!
this EA now runs on the timeframe the chart is set to, so don't flip TF's while the EA is running

ps. don't forget to check the settings before use.
Steve.
Attached File(s)
File Type: mq4 30x20 buy sell var buffer & TF & spread 5 digit.mq4   25 KB | 258 downloads
  • #1,004
  • Jan 13, 2009 9:07am Jan 13, 2009 9:07am
one more thing, the spread setting is for 5 digit brokers, if your on four digit then 0.8 = 8
  • #1,005
  • Jan 13, 2009 9:57am Jan 13, 2009 9:57am
Quoting Arnold49
ok. here is the latest version, it has the following new features;

1. spread_less_than = 8
if you want the EA to only trade when spread is 8 or less set this to 8.

2. Buffer= 800
distance to 1st trade from MA (eg; 800=80)

3. Ma_period= 40
set MA to what you want, 40, 120 etc.

4. WARNING!
this EA now runs on the timeframe the chart is set to, so don't flip TF's while the EA is running

ps. don't forget to check the settings before use.
Steve.
Wow, that was quick. Very much appreciated. Now we will have to see if that is actually an improvement or if it will create more problems.

Will this spread control 1st level only or all subsequent levels also?
  • #1,006
  • Jan 13, 2009 10:10am Jan 13, 2009 10:10am
Quoting Tradster
Wow, that was quick. Very much appreciated. Now we will have to see if that is actually an improvement or if it will create more problems.

Will this spread control 1st level only or all subsequent levels also?
spread control is for all trades

Steve.
  • #1,007
  • Jan 13, 2009 4:06pm Jan 13, 2009 4:06pm
Quoting Arnold49
spread control is for all trades

Steve.
wouldnt that be an issue with our figures tho....

for example spread control is for 15...

initial sell (for example sake) is done at 80 pips away from 40MA at a spread of 14 so under spread control....

it doesnt retrace and keeps going up another 20 pips however the spread is now 20 and remains so for sometime... the next sell re-entry is 60 pips away from the intial sell entry (spread returns to under 15) and when it takes profit of 30pips the multiplication is not enough to end up in profit??

I may be understanding wrong as I havent been testing the 1H or 5M as much but to me it may be an issue...


also for the older method, after yesterdays debacle, ive decided to go a unique angle and do a 23x52, 5 levels, 320SL, 3.2 multiplier and 0.01 lots just to test out... will turn on once or if ever the AUDNZD returns back to the pivot line.
Grabbing the bull by the horns!
  • #1,008
  • Jan 13, 2009 5:23pm Jan 13, 2009 5:23pm
Quoting whitegoodman
wouldnt that be an issue with our figures tho....

for example spread control is for 15...

initial sell (for example sake) is done at 80 pips away from 40MA at a spread of 14 so under spread control....

it doesnt retrace and keeps going up another 20 pips however the spread is now 20 and remains so for sometime... the next sell re-entry is 60 pips away from the intial sell entry (spread returns to under 15) and when it takes profit of 30pips the multiplication is not enough to end up in profit??

I may be understanding wrong as I havent been...
I'll see if I can limit it to the first trade, I didn't understand what you wanted it for exactly.

Steve.
  • #1,009
  • Jan 13, 2009 6:31pm Jan 13, 2009 6:31pm
Quoting Arnold49
spread control is for all trades

Steve.
Spread control only work for buy and it only need to work for the entry level [first level] . The rest of the level doesn't matter.

I wouldn't trade AUDNZD for a day or two becoz of increase in risk. No matter what setting u do, if the risk increase,not worth trading.
  • #1,010
  • Jan 13, 2009 6:55pm Jan 13, 2009 6:55pm
Quoting nanningbob
There is no reason for anyone to buy the NZD. I have seen this before with the Cad, nzd, aud, they will just run and run and run. They are such small currencies that against the big ones they will just get crushed. I dont have anything on the aud nzd because they are both minor but the nzd versus any major is gong to get crushed. This time I am going to ride it. I have seen the Cad move days at a time without any major retracement. I just didnt know what the news was that made it move like that. This time I got the news story. Being downgraded for...
So right NB..
I tried to average Cad plunge in spring07 looking for pullback and lost 2 months profit.. never again!!! LoL.
  • #1,011
  • Jan 13, 2009 6:58pm Jan 13, 2009 6:58pm
I closed all my dime trades, made about 30 bucks and turned my EA back on. Looks like the Aud/Nzd is moving normally again. Had a good talk to my friend, He took a thousand dollar hit yesterday but is still up from his original balance so he is happy he is still in profit. He had thought of exiting his trades after he saw the numbers on the news report but didnt so he kicks himself now. Anyway, unless we have some big surprises again will take the rest of the week or longer to gain back our losses. Here we go. I took a 250 hit on one account, wiped out my 38 dollar account well with my dime trades I brought back up to 9.67 Yoo Hoo. My other account I was testing that started at 168 is now in the 20's will trade .02 cents and see if I can get that going again. Life in Forex, The key is I live to trade another day. The thing is I havent had to add money to any of my accounts in several months so that is good but its been a while since I have cut a check. Not good news I know but no matter what system you use you will have losing days.
  • #1,012
  • Jan 13, 2009 7:27pm Jan 13, 2009 7:27pm
4 AUD news stories tomorrow so you may not want to be in the market at that time. Wait for the smoke to clear. I will close out sometime during the late morning or earlier afternoon USA session. Come back in late jpy or euro open.
  • #1,013
  • Jan 13, 2009 8:39pm Jan 13, 2009 8:39pm
Quoting nanningbob
4 AUD news stories tomorrow so you may not want to be in the market at that time. Wait for the smoke to clear. I will close out sometime during the late morning or earlier afternoon USA session. Come back in late jpy or euro open.
I might start trading AUDNZD tomorrow if today it didn't break R3. I wanna be on the safe side, today is for monitoring only.
  • #1,014
  • Jan 13, 2009 8:45pm Jan 13, 2009 8:45pm
I've been looking at quite a few charts in the last few hours. I reckon a simple EA to trigger BUY and SELL based on a priceline crossing a 120MA would work. This would have caught all the big rises and falls.
I'm not a programmer unfortunately (would love to learn!).
Could anyone code this so we can try it :

120MA rule EA

120MA linear weighted Indicator, on any chart.
A simple EA to have only 1 active open trade.
This could be adapted to any rate of MA?

variables:
MA
Lot size
TP
SL


1. BUY

When priceline ASCENDS through 120MA line:

- CLose any open SELL trade

- INITIATE a new BUY Order

- Leave BUY order open until either: Take Profit level, or priceline descends

through 120MA which will CLOSE the order.Onto 2. = SELL

2. SELL

When priceline DESCENDS through 120MA line:

- Close any open BUY trade

- INITIATE a new SELL order

- Leave SELL order open until either: Take Profit level, or priceline Ascends

through 120MA which will close the order. Back to 1. = BUY
  • #1,015
  • Edited 8:59pm Jan 13, 2009 8:48pm | Edited 8:59pm
Quoting mbrook
I've been looking at quite a few charts in the last few hours. I reckon a simple EA to trigger BUY and SELL based on a priceline crossing a 120MA would work. This would have caught all the big rises and falls.
I'm not a programmer unfortunately (would love to learn!).
Could anyone code this so we can try it :...
Your EA will get killed in any flat market. When ever price crosses the 120 line it will enter and exit. On a tick chart that can happen 50 times in just a a couple of minutes. Just watch your bid and ask lines on your screen and watch them bounce around. Then imagine them at the 120 line crossing and uncrossing over the line every couple of seconds.
  • #1,016
  • Jan 13, 2009 8:59pm Jan 13, 2009 8:59pm
But when the market isn't flat, could it be intitiated? Or am I way off?
  • #1,017
  • Jan 13, 2009 9:03pm Jan 13, 2009 9:03pm
how about 120MA cross plus X number of pips as a buffer? Might filter out some of the oscillating trades?
  • #1,018
  • Jan 14, 2009 1:10am Jan 14, 2009 1:10am
quick question, I was going through my GO markets mt4 last night to get some charts for pairs of the manual system im working on and noticed that they have AUDNZD and NZDAUD? Does that mean we could double this strategy by trading both?
Grabbing the bull by the horns!
  • #1,019
  • Jan 14, 2009 4:02am Jan 14, 2009 4:02am
Quoting forexisfx
I might start trading AUDNZD tomorrow if today it didn't break R3. I wanna be on the safe side, today is for monitoring only.

Looks like is a no trade tomorrow. AUDNZD having a strong trend. Will monitor tomorrow and if it didn't break tomorrow R3, will trade on Friday.
  • #1,020
  • Jan 14, 2009 4:17am Jan 14, 2009 4:17am
Quoting mbrook
But when the market isn't flat, could it be intitiated? Or am I way off?
You could use a buy only or sell only EA and turn it on when you wanted to use it. I have done that at times.
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