Trading aud/nzd successfully

I just learned a neat little trick to reduce a large loss. As you can see the Aud/Nzd had another run up in the middle of the Euro session. (What that heck its running then is anyones guess. Guess the Europeans dont need those NZD dollars.) So with 4 levels I was around 100 from my TP. So I went into my program and added another level (changed it from 4 to 5) but reduced the lots by 2/3 (changed it from .30 to .10). This gave me another entry but at a reduced number. Now price only needs to retrace 30 to get out and when it got there the 5th level trade brought the others near zero and I got out of a really tough situation. HMMMMMMMMM interesting. I hope you understood what I wrote. I have a MACD chart on and did this when it crossed down on MACD below the 0 line.

I'm just getting into forex and cleared $232.00 last night with your 35/20 system. I still don't understand it exactly and not sure how to tweak the parameters. Is there a thread where you explain? I can't get the sma lines (red, purple, etc.) to show on my screen. Again, thanks for the insight and education.

P.S. I'm using ifbx metatrader 4 demo account. Where is the best information for using the software?

I understand what you're talking about, and would be nice if someone could do the math on excel. My worry would be if it didn't retrace the 30

Bob, how are you getting on with your ma crossover EA?

I've managed to adapt your 30x20 buy sell EA to use a 5/15 lwma crossover on H1 chart,
when the market zooms up, we get no orders open but when it starts to come down we get a crossover and trades open (if still above the buffer zone)

I tested this for last year and get no SL hits (SL=150)
& it turns £500 into £592 or £100 into £173, not a lot for a year, I know, but I will now try it on GBP/JPY , and will post the outcome on the other thread.

I wont post the ea unless you give the go-ahead as I don't want to steal your thunder.

Steve.

So far I have not been able to get the program to work right for me. It will do one command but not both so I am not getting the entrances I want. Will try again tomorrow.

Just a note, I have been testing a 60x35 and it survived the moves of the last two days while the 30x20 has gotten into trouble. Also the 60x35 seems to be able to work on 10 currencies not just one. After some more testing I will post it. I am trying it live with .01 trades now.

Also, I save a trade by putting 60x35 in my 30x20. Instead of taking a 150 dollar loss I changed the EA to this formula, it entered two more times and then retraced. It cut the loss to under 30 dollars whereas I might never have had the chance to get back to my fourth level. That would have been my second 200 loss in two days. Tough to take, now I am sitting in much better shape.

start from the beginning of this thread and the 100x80 OH boy and then ask questions. i will try my best to help.

I switched another trouble trade to a 60x35 and it solved my problem for me. I had the 60x35 set for 7 levels at half the lots and it cleaned it up. First time I got out of a death trade without taking a big hit. As long as the Magic numbers are the same the new program will take over. This gave me 3 more levels and I entered after the MACD cross. Worked great. Two of the levels made profit and the entire losing trade was reduced 60 pips. Brought me to almost even. You probably could use my 100x80 to solve real serious problems as long as you had the margin to handle it.

There are rumors that Hammas will announce that they agree to a ceasefirein the Gaza war. Oil prices already fell significantly, and so has the Aussie.
I wonder how this this turn out...

what SL did you use?

didnt use one but I was inside 300 pips from entrance.

It doesnt make any difference, where ever you put the line you have this problem. The way to solve it is to have multiple signals to enter a trade. If you want to play with the idea just put MA cross EA in at forex factory and you can find several people have played with. I recommend that if you are serious in becoming a trader you do this. You will learn more about how the market works by trying to program a successful formula than any book or course you could take. I have been playing with EAs for almost 3 years and I am just now beginning to find something that works once in a while.

The biggest lesson I learned from all this was, every trade system has its weaknesses and you will always take losses at times. The key is limiting those losses. If you can do that, you will be a successful trader.

Is there a way to get the EA to stop trading after a stop loss has been hit?

RTTNews) - Thursday, New Zealand's Prime Minister John Key said the economy is not expected to grow in 2009 as weak global demand hit exports. He noted that unemployment is likely to increase sharply in the coming days as companies cut jobs to survive in the adverse economic conditions. After meeting senior government ministers and officials in Wellington to discuss the economic conditions, Key said the outlook for the economy continued to worsen since the Treasury revealed its latest forecasts in December. "New Zealand is facing challenging economic times as the global economic crisis washes over us, " Key said. Key called a "Summit on Employment" chaired by NZX chief executive officer Mark Weldon to discuss major challenges the country is going to face this and how to retain and grow jobs. The summit is to be held on February 27 in Auckland. "The National-led Government is implementing its economic plan, and we will see more initiatives in coming months," Key said in a statement. "The summit will bring together business, union and other leaders in the community to address a vital part of a healthy economy - employment." Key said, "I am determined that this won't be a talk-fest. I want to see outcomes from the summit that we can move to examine and implement." In December, the Treasury had said in its monthly economic report that the labor market continued to weaken in the September quarter and the unemployment rate rose to 4.2%, its highest level since the December 2003 quarter. According to Treasury's half-yearly economic forecast, real GDP is forecast to grow 0.3% in the March 2009 year. Growth is expected to remain weak over the 2010 March year at 0.8%, down from 1.8% in the Pre-election update. Real GDP growth is expected to rise to around 3% in 2011 and just below 4% in 2012 and 2013. New Zealand's gross domestic product declined 0.4% in the September 2008 quarter after falling 0.2% in the June 2008 quarter and 0.3% in March 2008 quarter. Elsewhere on Thursday, two separate reports showed house prices in New Zealand declined in December. Property information company, Quotable Value or QV said house prices fell 7.4% year-on-year in December. The Real Estate Institute of New Zealand or REINZ said the national median house prices declined 4.78% year-on-year to N$328,500 in December. QV said in its monthly residential price movement report that 2008 has been a pivotal year for the NZ property market with a sustained drop in property values for the first time since 1998. Mark Dow of QV Valuations said, "Property values held reasonably flat through the first three months of the year, but the decline kicked in through the autumn and winter months, during which time values dropped 6%. With the significant drops in interest rates over the past three months, there has been an increase in market activity and values appear to be flattening again." Dow added that after a period of sustained growth, a correction is inevitable. "The question remains how long this period of falling property values will continue," it said. The average New Zealand sale price for December increased slightly to NZ$378,605. The report showed all the main centers showed further declines in property values. REINZ said the value of total residential sales nationwide in December was NZ$ 1,705,409,595. REINZ president, Mike Elford noted that the downturn of the past few months is, in part, evidence of a "correction" of what in some areas were wrongly inflated values. The number of homes sold nationwide in December was 4,302, slightly up on November sales of 4,279 but down from 5,597 recorded in the previous year. Elford said, "The forthcoming Government Economic Summit will be looking at ways of encouraging positivity in the economy and housing is always a good way to get things going." He noted that lower interest rates and tax cuts will increase people's confidence. For comments and feedback: contact [email protected] Copyright(c) 2009 RealTimeTraders.com, Inc. All Rights Reserved

Wow, how'd you do that? My 30/20 crashed and burned and most others here seem to have had similar results this week. Can you tell me exactly what your settings were, and how you traded them ? Thanks much

Verto,
Can't find your last post now. Hope I didn't screw it up by hitting the quote button.

lol, Hmm? That was when the thread first started using a 50x20 range trading both ways at the same time. I still have about 2k in overall profit from that but I've stopped trading that way why spread has been so silly. Instead of trading that type of system I have been using this new EA that bob has come up with, with mild sucess. The pair has had a rough time in the year and it making our lives hard.

Funny enough, I've been doing pretty well with the original 35x20. Up about 25% this week in my live account.

Strange! You must be doing something right. How many levels are you using and what is you lotsize?
I too felt original EAs have some advantages..

Sorry Verto,yes that was an old post.

starting 0.04
mult 1.8
6 levels
220 stop

I think what has made the difference for me though is the fact that I traded around the news this week.