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Trading aud/nzd successfully

  • #1,041
  • Jan 15, 2009 11:42am Jan 15, 2009 11:42am
100/40 update from post 590 on 100/80 oh boy thread. Trading $3000, mult. (1.5) no SL, 24/5, 15 levels max. EUR/USD only

week 9- $3898 (max. levels reached 10) balance has grown steadily from $3000 since Oct.26th
week 10- $3953 (4)
  • #1,042
  • Jan 15, 2009 10:52pm Jan 15, 2009 10:52pm
Quoting Toothman
100/40 update from post 590 on 100/80 oh boy thread. Trading $3000, mult. (1.5) no SL, 24/5, 15 levels max. EUR/USD only

week 9- $3898 (max. levels reached 10) balance has grown steadily from $3000 since Oct.26th
week 10- $3953 (4)
This is the way to go I think. What is your Lot Size and maximum DD? If we can afford big account, we can have decent returns and minimum risk.
"Put all your efforts in becoming effortless"
  • #1,043
  • Jan 16, 2009 6:44am Jan 16, 2009 6:44am
Quoting IamTHAT
This is the way to go I think. What is your Lot Size and maximum DD? If we can afford big account, we can have decent returns and minimum risk.
I've been trading mostly .02 lot size thinking that to be fairly safe with $3000( maybe even $2000). Deepest level since October has been (11) which gives you around $465 DD. Since your trading without a stoploss, I would definetley siphon off profits as you make them.
  • #1,044
  • Jan 16, 2009 7:04am Jan 16, 2009 7:04am
Quoting Toothman
I've been trading mostly .02 lot size thinking that to be fairly safe with $3000( maybe even $2000). Deepest level since October has been (11) which gives you around $465 DD. Since your trading without a stoploss, I would definetley siphon off profits as you make them.
is there something in the original EA that can signal to turn on the EA... cos i wanna try and steer clear of the big NZD and AUD news items but unfortuneatly im usually away from my comp and at work...
Grabbing the bull by the horns!
  • #1,045
  • Jan 16, 2009 7:56am Jan 16, 2009 7:56am
Quoting whitegoodman
is there something in the original EA that can signal to turn on the EA... cos i wanna try and steer clear of the big NZD and AUD news items but unfortuneatly im usually away from my comp and at work...
White,
You can adjust the trading hours just like the rest of these EA's. I'm only trading this 100/40 on the EUR/USD.
  • #1,046
  • Jan 18, 2009 2:04am Jan 18, 2009 2:04am
Awfully quiet here the last few days, how did everybody do this week?
"The market giveth and the market taketh away"
  • #1,047
  • Jan 18, 2009 4:15am Jan 18, 2009 4:15am
Quoting urbanFX
Awfully quiet here the last few days, how did everybody do this week?
few of us hit a stop on tuesday unfortuneatly, tho you would have been safe if you traded around the announcement...

speaking of which would someone be able to pm or explain to me how to program the EA to turn on at a certain market time? its in there but i dont know what the numbers mean to certain times etc
Grabbing the bull by the horns!
  • #1,048
  • Jan 18, 2009 4:19am Jan 18, 2009 4:19am
Except for the two sharp rallys which blew my account twice good sofar.
No trades on Friday. I demo with 1k and set it to 1 minilot which is a little bit extreme. ^^ Made 70% on one day with 7%DD which still is quite good.
I want to see how far I can take it.
  • #1,049
  • Jan 18, 2009 4:42am Jan 18, 2009 4:42am
Quoting Tjpld
Except for the two sharp rallys which blew my account twice good sofar.
No trades on Friday. I demo with 1k and set it to 1 minilot which is a little bit extreme. ^^ Made 70% on one day with 7%DD which still is quite good.
I want to see how far I can take it.
thats with the 120MA 5min i presume?
Grabbing the bull by the horns!
  • #1,050
  • Jan 18, 2009 5:55am Jan 18, 2009 5:55am
Well I'm still trading the original 35x20, albeit with slightly adjusted values, and made about 35% for the week. Granted, I did trade around the news events. White, turn on the 'usetradinghours' feature and adjust the hours to trade as you need. The figures there are time based, so if you don't want to trade say the first 3 hours of the Japanese session, which starts at 0:00 gmt for say sake, you would set it to trade from 3 to whatever time the session closes. Set Europe and US to open and close as per the usual times.

Hope that makes sense.
"The market giveth and the market taketh away"
  • #1,051
  • Jan 18, 2009 6:10am Jan 18, 2009 6:10am
Quoting urbanFX
Well I'm still trading the original 35x20, albeit with slightly adjusted values, and made about 35% for the week. Granted, I did trade around the news events. White, turn on the 'usetradinghours' feature and adjust the hours to trade as you need. The figures there are time based, so if you don't want to trade say the first 3 hours of the Japanese session, which starts at 0:00 gmt for say sake, you would set it to trade from 3 to whatever time the session closes. Set Europe and US to open and close as per the usual times.

Hope that makes sense....
sort of... heres the code

extern string TradingTime="--trading time setting--";
extern bool UseTradingHours = false; (i change this to true)
extern bool TradeAsianMarket = true;
extern int StartHour1 = 0; // Start trades after time (does the EA automatically know when the Asian sessions starts, like some mt4's have different GMT times for charts. I use IBFX)
extern int StopHour1 = 3; // Stop trading after time (do i make this 9??)
extern bool TradeEuropeanMarket = true;
extern int StartHour2 = 9; // Start trades after time
extern int StopHour2 = 11; // Stop trading after time (do i make this 15)
extern bool TradeNewYorkMarket = true;
extern int StartHour3 = 15; // Start trades after time
extern int StopHour3 = 17; // Stop trading after time
extern bool TradeOnFriday=True;

I just want it to open say 3 hours after an announcement or something and remain on for the rest of the day...

i presume i will have to turn 'usetradinghours' back to false once i get home from work to avoid the EA switching off and on back again a few hours into the asiin session...
Grabbing the bull by the horns!
  • #1,052
  • Jan 18, 2009 6:11am Jan 18, 2009 6:11am
Quoting whitegoodman
thats with the 120MA 5min i presume?
No 1H and to big lot size. ^^
  • #1,053
  • Edited 6:31am Jan 18, 2009 6:15am | Edited 6:31am
Quoting Tjpld
No 1H and to big lot size. ^^
yeh best to keep that lot size for demos and demo comps only
Grabbing the bull by the horns!
  • #1,054
  • Jan 18, 2009 6:41am Jan 18, 2009 6:41am
As I've previously stated, please demo this first as it's a feature I have never used before. Firstly, white you don't actually have to change anything in the code, you can set this in the input screen of the EA, it's towards the bottom.

Secondly, NO the EA does not automatically know what time the Asian session starts, you have to tell it and that's why these figure are time based. Let's see if we can get this working for you. All these settings are GMT+2 based, so you may have to adjust the hours accordingly. As per GMT+2, AUDNZD news is released between 11pm and 2am, so if you wanted to only start trading at 3am and end trading a 11pm, I think these settings should work.

Quoting whitegoodman
sort of......
Just be aware, I have no idea what happens with the orders are open when the EA stops trading at 11pm. Idon't know if they TP they way they still should or all just close automatically, you will have to check it out.

Hope this works for you!
"The market giveth and the market taketh away"
  • #1,055
  • Jan 18, 2009 6:43am Jan 18, 2009 6:43am
Sorry, for some reason it left the code out

extern string TradingTime="--trading time setting--";
extern bool UseTradingHours = false; (i change this to true) YES
extern bool TradeAsianMarket = true;
extern int StartHour1 = 0; // Start trades after time (does the EA automatically know when the Asian sessions starts, like some mt4's have different GMT times for charts. I use IBFX) SET THIS TO 3
extern int StopHour1 = 3; // Stop trading after time (do i make this 9??) SET THIS TO 10
extern bool TradeEuropeanMarket = true;
extern int StartHour2 = 9; // Start trades after time SET THIS TO 10
extern int StopHour2 = 11; // Stop trading after time (do i make this 15) YES
extern bool TradeNewYorkMarket = true;
extern int StartHour3 = 15; // Start trades after time
extern int StopHour3 = 17; // Stop trading after time SET THIS TO 23
 extern bool TradeOnFriday=True;
"The market giveth and the market taketh away"
  • #1,056
  • Jan 18, 2009 8:48am Jan 18, 2009 8:48am
Just to let you guys know what I will be doing this week. I am going to work on my theory of letting the EA handle the first 4 levels but after that I will enter the 5th levels and higher to correspond with a MACD or MA cross, then going with a higher TP to see if I can finally nail down a way to avoid the death trade and to reduce losses on price runs. I have done this with one trade so far and instead of taking a loss in the hundreds I cut it down to a small one. If this works I may have finally solved the trades that move just out of range of the EA and instead of trying to pray the trade back to where it belongs we will just cut it back down to a bite size loss and go on. So here we go. If this works we wont have to be afraid of the sudden price runs that go agianst us. We just wait them out, limiting our risk to the numbers in the first four levels, reenter later and go for that retrace when it finally comes. I eyeballed this on last Tuesdays news run and after it was over I could have saved myself a couple of hundred bucks in losses doing this. I did it the very next day on a trade and it worked well. However, I would caution that this theory probably would not work on GBP/JPY trades because of the thousands of pips involved in some trades.
  • #1,057
  • Jan 18, 2009 8:55am Jan 18, 2009 8:55am
I am going to use a 35x40 which gives me a 160 pip range going both directions at the same time. If one side of the trade runs on me I will wait for the run to finish, put on my 60x35 for the 5th level and higher at a MACD cross and see what happens. This gives me 3 more levels to work out the trade problem but I expand the range of my EA and wont enter the 5th level until it is breaking the rubber band.
  • #1,058
  • Jan 18, 2009 2:28pm Jan 18, 2009 2:28pm
Quoting nanningbob
I am going to use a 35x40 which gives me a 160 pip range going both directions at the same time. If one side of the trade runs on me I will wait for the run to finish, put on my 60x35 for the 5th level and higher at a MACD cross and see what happens. This gives me 3 more levels to work out the trade problem but I expand the range of my EA and wont enter the 5th level until it is breaking the rubber band.

seems like the final frontier in making this a "perfect system" good luck with it this week... ill presume the inital lot size will have to be a little more sensible as to avoid a margin call if their turns out to be a run waiting for the MA cross in the higher levels...

thanks urbanfx well explained..always thought ibfx was GMT, explains why things happened 2 hours early now lol
Grabbing the bull by the horns!
  • #1,059
  • Jan 19, 2009 1:18am Jan 19, 2009 1:18am
damnit the trade time thing didnt work today... i was stupidly under impression it would turn the expert advisor thing to on (green)... silly me, oh well no money lost... not to self, turn on expert advisor on tomorrow and hope that it doesnt take any trades before start time
Grabbing the bull by the horns!
  • #1,060
  • Jan 19, 2009 3:21am Jan 19, 2009 3:21am
Quoting whitegoodman
damnit the trade time thing didnt work today... i was stupidly under impression it would turn the expert advisor thing to on (green)... silly me, oh well no money lost... not to self, turn on expert advisor on tomorrow and hope that it doesnt take any trades before start time
The only way to stop the EA in coding is to make it sleep. U cannot make it turn on or off becoz there is no coding to do that.
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