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Bobnannings Range trading method

  • #41
  • Jan 12, 2009 10:58am Jan 12, 2009 10:58am
Quoting rbrtsha
is trailstop ea set in pips or dollars?
I don't know, I haven't used it yet, but I would guess pips.

Steve.
  • #42
  • Jan 12, 2009 12:08pm Jan 12, 2009 12:08pm
I've altered the EA to make trades at distances away from the center on various pairs of from 75 away, to 225 away. This is based on another thread, which is now closed, that uses a COG line, similar enough to the 40 MA as a center point. I posted the sheet a few posts back. If I wanted to be a little more conservative, I could increase the starting points to a more extreme level of 100 to 300 away depending on the pair I have the EA set on.
I really don't mind the fewer trades at all. I see that I'm getting a bargain price when the EA automatically buys or sells for me at these levels. If an EA is making trades for me, they can be made 24/5, and I can be really conservative with the amount of lots I start with. The way I figure it, I'm getting in on the trade when the pair is already far away from the center point, which is a point that the pair usually returns to. In this case, I don't even need it to return to the center point. I just need it to retrace by 60 PIPS.
I'm using 60/40, and I know this isn't the optimal setting for all pairs. I'll keep studying to see if I can fine tune it some for each pair. Will have to do this manually, unless some genius out there has a way to figure it. Bob?
  • #43
  • Edited 5:42pm Jan 12, 2009 5:01pm | Edited 5:42pm
Quoting paradoxical
I've spent some time taking some notes on another system that uses the COG line with possible entries away from the center for the various pairs. This is attached for those interested. My plan is to test the EA using these settings on several pairs.
is that the one by OANFX? im currently going through that one
Grabbing the bull by the horns!
  • #44
  • Jan 12, 2009 5:25pm Jan 12, 2009 5:25pm
Quoting paradoxical
I've altered the EA to make trades at distances away from the center on various pairs of from 75 away, to 225 away. This is based on another thread, which is now closed, that uses a COG line, similar enough to the 40 MA as a center point. I posted the sheet a few posts back. If I wanted to be a little more conservative, I could increase the starting points to a more extreme level of 100 to 300 away depending on the pair I have the EA set on.
I really don't mind the fewer trades at all. I see that I'm getting a bargain price when the EA automatically...
Yeah well I am trying 100/70, 100/60, 60/40 and so far very mixed results. The 100/70 got clobbered with 3 stop losses last week Monday, lost half of my demo account but has recovered nicely since. I think it has possibilities. The 60/40 definitely cant be used on high moving pairs but may work with the slower ones. Needs more time. I want to get my 100/80 going with the MA cross but that is getting harder to code. My first couple of attempts have not worked. Thinking
  • #45
  • Jan 12, 2009 5:56pm Jan 12, 2009 5:56pm
Nothing scientific here, but in looking back at the MA line and distances away, I've come up with some entries on the safer pairs with a few big movers thrown in. I really like the idea of the entry being at extremes of the MA line. Will report as to my results. Just started today:

EUR/CHF Opens trade at 100 away from center with a 60X40 EA
NZD/USD Opens at 80 away from center with a 30X20 EA
AUD/USD Opens at 100 away from center with a 60X40 EA
AUD/CAD Opens at 80 away from center with a 45X30 EA
AUD/NZD Opens at 80 away from center with a 30X20 EA
CHF/JPY Opens at 120 away from center with a 60X40 EA
EUR/USD Opens at 240 away from center with a 90X60 EA
USD/CHF Opens at 240 away from center with a 90X60 EA

I realize there will be fewer trades. but, in checking the charts, it looks like there will be more than several trades per week. Even on the last two pairs, the chart shows a fair amount of trades. I think there's more of a tendency for reversing when the entries are made away from the center, than if they're made closer to the center. Naturally, less trades. But, I don't care, because I don't have to stare at a chart and make em myself, along with not even having to input TP and SL, and being able to have this done while I'm gone. The EA can "work' for me while I can't attend to the computer.
  • #46
  • Jan 12, 2009 6:05pm Jan 12, 2009 6:05pm
Quoting paradoxical
Nothing scientific here, but in looking back at the MA line and distances away, I've come up with some entries on the safer pairs with a few big movers thrown in. I really like the idea of the entry being at extremes of the MA line. Will report as to my results. Just started today:

[font=Times New Roman][size=3]EUR/CHF...
Hey I like your thinking, If you trade multiple pairs, lets say 10 and they each get two or three trades a week, that is plenty of trades to make some nice money. Right now on my EA attempts I have been too close to center with other pairs. Will try again setting up but first I need to expand the ram on my computer. I have so many demos going I am clogging it up. Off to the computer store today.
  • #47
  • Jan 12, 2009 6:32pm Jan 12, 2009 6:32pm
That's exactly it. I have 8 pairs, all relatively safe, and I should get a fair amount of trades. Nothing wild or scary, which is the way I prefer it. With fewer trades, I can monitor things better. Just using .3 lots for now while I'm testing. Don't even have to worry about the possible new rules against hedging that our stoopid congress will probably pass. All I need is 5% a week, and I'll be happy.
  • #48
  • Jan 12, 2009 6:39pm Jan 12, 2009 6:39pm
would someone be able to pm me for a novice explanation of how to change the code so I can put experiment with what paradoxical is saying regarding other currency pairs... In the other EA i jsut changed it in MT4 not the metaeditor so im a tad oblivious...
Grabbing the bull by the horns!
  • #49
  • Edited 7:13am Jan 13, 2009 6:36am | Edited 7:13am
Quoting whitegoodman
would someone be able to pm me for a novice explanation of how to change the code so I can put experiment with what paradoxical is saying regarding other currency pairs... In the other EA i jsut changed it in MT4 not the metaeditor so im a tad oblivious...
Here you go, just alter the "buffer" variable to whatever you want.
warning: this will now work on the time frame the chart is set to, so don't flip between TF's while the EA is running!
Attached File(s)
File Type: mq4 30x20 buy sell var buffer & TF.mq4   25 KB | 354 downloads
  • #50
  • Jan 13, 2009 8:25am Jan 13, 2009 8:25am
Very cool, Arnold. The buffer value on the EA is 800, which is 80. I assume that if I want to enter at 120 pips away, I just change it to 120 (1200 on 5 digit brokers). Is this EA based off the 40 MA or the ATR? If it's the ATR, how can I determine where the starting point is? Thanks.
Quoting Arnold49
Here you go, just alter the "buffer" variable to whatever you want.
warning: this will now work on the time frame the chart is set to, so don't flip between TF's while the EA is running!
  • #51
  • Jan 13, 2009 9:01am Jan 13, 2009 9:01am
Quoting paradoxical
Very cool, Arnold. The buffer value on the EA is 800, which is 80. I assume that if I want to enter at 120 pips away, I just change it to 120 (1200 on 5 digit brokers). Is this EA based off the 40 MA or the ATR? If it's the ATR, how can I determine where the starting point is? Thanks.
there's no ATR in this one, the atr is replaced by whatever number you input as a buffer.

yes 800=80 & 1200=120.

you might be interested in the EA I posted on the AUD/NZD thread it is the same but now with spread control.
  • #52
  • Jan 13, 2009 2:24pm Jan 13, 2009 2:24pm
Quoting Arnold49
there's no ATR in this one, the atr is replaced by whatever number you input as a buffer.

yes 800=80 & 1200=120.

you might be interested in the EA I posted on the AUD/NZD thread it is the same but now with spread control.
Am I correct in that what we actually have here is an ea that is now a base ea that can be made to behave like all the others by just changing the values in the input tab, without having to compile a new one? That's awesome...
  • #53
  • Jan 13, 2009 5:27pm Jan 13, 2009 5:27pm
Quoting Tradster
Am I correct in that what we actually have here is an ea that is now a base ea that can be made to behave like all the others by just changing the values in the input tab, without having to compile a new one? That's awesome...
yes, I suppose it is , but these are quite minor changes as I've only just started to learn this EA language.

Steve.
  • #54
  • Jan 14, 2009 11:14am Jan 14, 2009 11:14am
I've seen there's quite a bit of difference between the one hour chart and 5 minute chart as to when trades would be taken. I tested an entry 100 PIPS away from center, using a 60/40 entry. So far, I've been able to visually test the EUR/CHF back to August. On the 5 minute chart, no trades would have been taken for August and September, 14 trades in October, 4 in November, 4 in December and none yet in January.
Interestingly, though, the biggest drawdown was 356 PIPS on October 24 before the reversal. All of the rest were less than 200. With a 400 PIP stop, all trades would have been winners on the EA. Also, from October 10 to now, if you had set the EA to make just one trade and take 30 PIPS profit with a 400 pip stop loss, you would have had 21 straight winners. The drawdown is not that great and could rather safely be set at 200 on a straight trade and you'd have gone 20 wins at 30 pips, with one loss of 200.
Not a lot of trades made, but with enough of a stop loss, I think this EA could be fine tuned to get 95% winners on many pairs, tossing out the faster movers. Takes a lot of screen time to determine which settings are best.
  • #55
  • Jan 14, 2009 1:41pm Jan 14, 2009 1:41pm
Bob, i saw your post on the AUD/NZD thrtead, and don't want to post there on this, so as not to confuse that thread. You said you're experimentiung with a 60X35 EA, and it can be used on 10 pairs. That's what I'm looking at, also, and trying to determine good settings to avoid getting stopped on those swings in October and December. I'm looking at the 60X40 with 5 entries. I noticed the lesser trades usiung the 5 moinute chart, but that one does seem best, as it gets you into trades later, shaving pips off your initial entry. Your 80 PIPS away seems OK on some of the slower movers, but it looks like 100 might be even better, or 120-140 on some of the faster movers. I understand there may only be a few trades, but with 7-10 pairs and an EA doing the work, it's not an issue. Plus, in my opinion, when you get in, you're getting in at much better levels. The difference between having entered AUD/NZD at the center line a few days ago, or entering 100 to 120 pips away from that point. Doing this on every pair, and getting even only one-two trades a week on each pair I think is better than getting more trades with more risk. I like your idea of slapping on an EA such as a 100X80 after 5 levels, too, or even after 4 levels. Would love to be able to put that on a spreadsheet and figure out what would get you to even after you're 5 levels deep and in the hole.
  • #56
  • Jan 14, 2009 5:14pm Jan 14, 2009 5:14pm
In continuing to check the diferences between putting Bob's template on different charts, I've found that the entry points vary. For example, on januray 13, the one hour chart would enter BUYS on the AUD/NZD at 1.1908. The 30 minute chart would enter at 1.1889, the 15 minute at 1.1896, and the 5 minute at 1.1943.
On 1-8, the SELL entry would be 1.1913 on the 5 minute, 1.1941 on the 15 minute, 1.1945 on the 30 minute, and 1.1964 on the one hour.

The 15 and 30 minute charts will give you entries that are pretty close.

The difference in PIPS on this pair is 35 to 50 pips between the 5 minute and one hour chart. The ONE hour chart gets you into a trade that much EARLIER than the 5 minute chart would. That means you shave off that many pips from your entry point if you use the 5 minute chart. The bad side of this is that you miss trades. The good side is you get in at more oversold or overbought levels. I prefer the latter.

I have checked other pairs, and this is universal with all pairs. For example, the CHF/JPY on 1-9 the ONE hour chart would give you a sell trade at 82.46, and the 5 minute chart wouldn't make this trade until it hit 81.96 for a 50 PIP difference on the entry.

In short, you'll get lots more trades using a one hour chart, if that's what you want. I like entering when the pair has moved far away from center. The further away, the better. But, not so far away that no trades would be made.
  • #57
  • Jan 14, 2009 6:55pm Jan 14, 2009 6:55pm
Quoting paradoxical
Bob, i saw your post on the AUD/NZD thrtead, and don't want to post there on this, so as not to confuse that thread. You said you're experimentiung with a 60X35 EA, and it can be used on 10 pairs. That's what I'm looking at, also, and trying to determine good settings to avoid getting stopped on those swings in October and December. I'm looking at the 60X40 with 5 entries. I noticed the lesser trades usiung the 5 moinute chart, but that one does seem best, as it gets you into trades later, shaving pips off your initial entry. Your 80 PIPS away seems...
I am looking at some math numbers for that. You calculate how many pips you are playing at the time. If you are at 2 lots a pip or 2.00 apoint and you are using a 30 TP but you are over 100 pips from TP and you are 200 in the hole. If you put on the 60x35 and it reenters every 35 you would be 270 in the hole. OK 60 pips from that point x 2.00= 120 or 270 -120=150. You calculate what lot you need for the 5th level of the 60x35 and you want 1.5 x 60 = 90. So the remaing loss of 150-90 or a 60 dollar loss. The trade I did this with went two more levels one the 60x35 and I ended up with only a 30 dollar loss instead of over 200 and still waiting on a retracement to TP. Even if the 60x35 has to go a couple of levels you bring the EA range in where you can do something about the trade instead of trying to pray price will reverse 100-150 pips. You can look for a reasonable loss exit. I used the MACD cross to postion my entrance and do my math for the 5th level from that point. I figure if I can get my loss in the 50 buck range it is not as devastating as a 2-300+ one. Of course you need the margin to do such a thing.

Also I tested a 60x35 on this weeks move and if I started far enough away 60 -80 pips from a 120MA center, it survived the move and made a profit. I think you will see the same in a 60x40 also. This led me to test on 10 currencies .01 starting today.
  • #58
  • Jan 14, 2009 7:09pm Jan 14, 2009 7:09pm
Looks like there's thousands of ways to approach this system and EA. Do you know if someone has made an excel sheet that can give you the PROFIT you would make if you successfully close a trade at level 2, level 3, level 4, etc.?
I'd like this for the checking I'm doing on the charts as far as how many levels a pair goes before it reverses, and the best stop to use. Also, what I was thinking is that if I was 5 levels deep on a 60X40, I could purchase an equal number of lots (as long as congress doesn't pass some anti hedge laws). That would effectively freeze my losses at that point. Then I could attach maybe a 90X60 or 100X80 with the hope that it would reverse. The benefit is that I'd be getting in at a more extreme level. The downside would be it could keep going that way, but the probablities would be on my side that there would have to be a reversal of X pips sooner or later.
Quoting nanningbob
I am looking at some math numbers for that. You calculate how many pips you are playing at the time. If you are at 2 lots a pip or 2.00 apoint and you are using a 60 TP and you are 200 in the hole. If you put on the 60x35 and it reenters every 35 you would be 270 in the hole. OK 60 pips from that point x 2.00= 120 or still 150 in the hole. You calculate what lot you need for the 5th level of the 60x35 and you use 1.5 x60 = 90 or a 60 dollar loss. Even if the 60x35 has to go a couple of levels you bring the EA range in where you can do something...
  • #59
  • Edited 12:19am Jan 15, 2009 12:18am | Edited 12:19am
Gentleman,
Backtesting this ea on the AudNzd from 1/1/09 to 1/15/09 and using the variable spread set to 56 pips you will find that, at least with the data I have, it basically breaks even with the wild price swings. I also limited the EA to 3 trades and told it to use $15.00 usd as the base amount and .01 trades. Interesting to see, that if you had set the levels properly, and run on a 30 min time frame, you would have survived that big move with a .50 cent gain. Anyway, for what it is worth. I am testing it now on AUD/CAD and it shows very promising results with 58 pip variable on the 1 hour chart. Again 3 trades deep and .01 lots. Same time frame on the AUD/CAD and it makes $15.00 on a $15.00 account. So...we'll see what happens from here. Interesting EA and I like what I am seeing here. Thanks Bob and all who are contributing. Although I got hit hard with the big move, I was able to salvage enough to keep on plugging. So...the race to $100.00 begins at $15.00 ROFL
Zorro...
  • #60
  • Jan 15, 2009 1:59am Jan 15, 2009 1:59am
Quoting Zorro's Mask
Gentleman,
Backtesting this ea on the AudNzd from 1/1/09 to 1/15/09 and using the variable spread set to 56 pips you will find that, at least with the data I have, it basically breaks even with the wild price swings. I also limited the EA to 3 trades and told it to use $15.00 usd as the base amount and .01 trades. Interesting to see, that if you had set the levels properly, and run on a 30 min time frame, you would have survived that big move with a .50 cent gain. Anyway, for what it is worth. I am testing it now on AUD/CAD and it shows...
Well I am back to 7.69. Man what a week. Well I will wait for you at the finish line.
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