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Trading aud/nzd successfully

  • #1,061
  • Jan 19, 2009 3:59am Jan 19, 2009 3:59am
Quoting forexisfx
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.
i presume the settings above shown by urbanfx will make it sleep till 3am(GMT+2) then itll turn on.... will turn expert advisors on green tomorrow morning and hope it works itself around tomoz mornings (for me) announcement.
Grabbing the bull by the horns!
  • #1,062
  • Jan 19, 2009 6:40am Jan 19, 2009 6:40am
Hey Bob,

This sounds like a great idea and may very well cut out the death trade, well as long as it doesn't move 500 pips.....then it will just be 10 times worse lol

I'll be watching this quite carefully.

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.
"The market giveth and the market taketh away"
  • #1,063
  • Jan 19, 2009 6:42am Jan 19, 2009 6:42am
Quoting whitegoodman
i presume the settings above shown by urbanfx will make it sleep till 3am(GMT+2) then itll turn on.... will turn expert advisors on green tomorrow morning and hope it works itself around tomoz mornings (for me) announcement.
The time thing does work but you cant go past the 24:00 clock. In other words if you set to open at 6 GMT you cant go past 24:00 on your stop time. I couldnt get it to work if I tried going into a new day. It did work fine as long as I stayed in the same day with the program. When it turns off the trades that existed kept going but the EA didnt enter any new trades. I didnt like the feature because you cant predict where prices are going to be at a certain time. A better feature would be make a certain amount of funds and then shut down. That is in the program but I dont use that one either. The only time I used it was to make sure the EA didnt come on on Mondays until after the JPY session opened and I wanted to miss the gaps. I then would turn the feature off when I got home and traded away.
  • #1,064
  • Jan 19, 2009 2:06pm Jan 19, 2009 2:06pm
Quoting nanningbob
The only time I used it was to make sure the EA didnt come on on Mondays until after the JPY session opened and I wanted to miss the gaps. I then would turn the feature off when I got home and traded away.
thats all im using it for, to miss some stuff in my mornings announcement wise... then i tur to flasee when i get home
Grabbing the bull by the horns!
  • #1,065
  • Jan 19, 2009 2:23pm Jan 19, 2009 2:23pm
For some reason it isnt working...currently on the IBFX chart it is 20.00 and this is what im putting in then clicking on expert advisors to on, but it opens positions...


extern string TradingTime="--trading time setting--";
extern bool UseTradingHours = true
extern bool TradeAsianMarket = true;
extern int StartHour1 = 0; // Start trades after time 3
extern int StopHour1 = 3; // Stop trading after time 10
extern bool TradeEuropeanMarket = true;
extern int StartHour2 = 10; // Start trades after time
extern int StopHour2 = 15; // Stop trading after time
extern bool TradeNewYorkMarket = true;
extern int StartHour3 = 15; // Start trades after time
extern int StopHour3 = 16; // Stop trading after time
extern bool TradeOnFriday=True;
Grabbing the bull by the horns!
  • #1,066
  • Jan 19, 2009 2:29pm Jan 19, 2009 2:29pm
As Bob said, the EA only takes today into consideration. So when you turn it on it sees that it should be trading the US session at this time so it does. Your best bet is to set 'TradeNewYorkMarket' to false. The problem being that while this feature is enabled you won't be able to tradr the US. However this should solve the problem for what you want it for.
"The market giveth and the market taketh away"
  • #1,067
  • Jan 19, 2009 2:44pm Jan 19, 2009 2:44pm
Quoting urbanFX
As Bob said, the EA only takes today into consideration. So when you turn it on it sees that it should be trading the US session at this time so it does. Your best bet is to set 'TradeNewYorkMarket' to false. The problem being that while this feature is enabled you won't be able to tradr the US. However this should solve the problem for what you want it for.
that was the issue, thanks again urban, and with 5mins to leave to get to work aswell
Grabbing the bull by the horns!
  • #1,068
  • Jan 19, 2009 8:26pm Jan 19, 2009 8:26pm
Ive only had time to quickly scan your great thread here but I know that spread must be a big issue for anyone trading the AUDNZD pair .

I recently had occasion to trade AUDNZD and was not happy with the inflated spreads I encountered on this cross, with otherwise reputable MT4 brokers. Having traded majors only for over 5 years, and being new to crosses, but knowing how they were constructed, I decided to ask the obvious question ...Why.

I wasnt satisfied with the answers I got.

So I started a tread at http://www.forexfactory.com/showthread.php?t=143216 to get some answers.

I still dont have any.

You guys may be interested, and your support would be certanly be appreciated to keep the question alive until answers are forthcoming....
  • #1,069
  • Jan 20, 2009 6:25am Jan 20, 2009 6:25am
the spread by IBFX atm is an absolute joke...

it goes up to 50pips whenever it tries to hit a sell TP, not so much the buys... im also running this EA live on GOmarkets... been 11 pips spread all night
Grabbing the bull by the horns!
  • #1,070
  • Edited 8:23am Jan 20, 2009 8:12am | Edited 8:23am
yeah. I'm moving out of IBFX soon. I though IBFX gonna bring the spread back to normal on Jan 2009. Looks like it isn't gonna happen anytime soon. When I look at the spread on IBFX and other broker, I was wondering why I am paying more spread when I always get off quote and requote from IBFX

IBFX used to have competitive spread and good execution without off quote, but now everything changed.
  • #1,071
  • Jan 20, 2009 10:12am Jan 20, 2009 10:12am
Quoting forexisfx
yeah. I'm moving out of IBFX soon. I though IBFX gonna bring the spread back to normal on Jan 2009. Looks like it isn't gonna happen anytime soon. When I look at the spread on IBFX and other broker, I was wondering why I am paying more spread when I always get off quote and requote from IBFX

IBFX used to have competitive spread and good execution without off quote, but now everything changed.

Where are you going??? Have you found a different broker that offers Pennies?

Im looking but still have not found any! Please Advise!
M4X............ Hedging My Way To Profits!
  • #1,072
  • Jan 20, 2009 4:15pm Jan 20, 2009 4:15pm
Quoting M4X
Where are you going??? Have you found a different broker that offers Pennies?

Im looking but still have not found any! Please Advise!
well thats the thing, with the evolution of this EA we dont need pennies anymore
Grabbing the bull by the horns!
  • #1,073
  • Jan 20, 2009 5:31pm Jan 20, 2009 5:31pm
Quoting whitegoodman
well thats the thing, with the evolution of this EA we dont need pennies anymore
yeah, he is absolutely right. Before this new EA, i cannot do anything but to trade only at IBFX becoz i dont have a choice. Right now, I can choose a wide range of broker since i only need those who offer 1,000 base currency unit.

I'm still looking for a good broker. Those who are also looking for another broker, my suggestion is

1. Pick those who has lower spread than IBFX [Could be done easily]
2. Regulated [So that u have less chance of getting srew up by broker]
3. Do not need too much initial deposit

And most importancely, after u find a few broker that u like, demo first to see if the EA behave just like in IBFX.

Just don't rush to get a new broker becoz u might just end up getting a worst broker than IBFX.

Try to pick regulated broker becoz u dont wanna end up getting broker like Crown Forex (Right now SFBC (Swiss Federal Banking Commission) investigation and those in Crown forex was not able to withdraw their money till the investigation finish)
  • #1,074
  • Jan 21, 2009 10:12am Jan 21, 2009 10:12am
Quoting whitegoodman
the spread by IBFX atm is an absolute joke...

it goes up to 50pips whenever it tries to hit a sell TP, not so much the buys... im also running this EA live on GOmarkets... been 11 pips spread all night
I also have been very frustrated by the high spreads. When I was using these EAs last Oct. and Nov. I was getting 10 or more trades a day. Now it seems I spend all day battling the spread and trying to get a TP. Anyway, now that the Euro economy is doing as bad as the rest of the world the Eur/Gbp has been doing very well in this ea. Try demoing it and see what you think.
  • #1,075
  • Jan 21, 2009 11:49am Jan 21, 2009 11:49am
What settings are you using for the EURGBP Bob?

Quoting nanningbob
I also have been very frustrated by the high spreads. When I was using these EAs last Oct. and Nov. I was getting 10 or more trades a day. Now it seems I spend all day battling the spread and trying to get a TP. Anyway, now that the Euro economy is doing as bad as the rest of the world the Eur/Gbp has been doing very well in this ea. Try demoing it and see what you think.
"The market giveth and the market taketh away"
  • #1,076
  • Jan 21, 2009 12:23pm Jan 21, 2009 12:23pm
Quoting whitegoodman
the spread by IBFX atm is an absolute joke...

it goes up to 50pips whenever it tries to hit a sell TP, not so much the buys... im also running this EA live on GOmarkets... been 11 pips spread all night
Try trading the EUR/USD with the 100/40 EA. You don't have to worry about spreads with this pair, even with IBFX. Returns are slow but steady. I've grown a $3000 account to $4170 (39%) since Oct. 26.
  • #1,077
  • Jan 21, 2009 4:45pm Jan 21, 2009 4:45pm
Quoting Toothman
Try trading the EUR/USD with the 100/40 EA. You don't have to worry about spreads with this pair, even with IBFX. Returns are slow but steady. I've grown a $3000 account to $4170 (39%) since Oct. 26.
yeh im demoing the new EA on the 5min MA with the following pairs...

CHFJPY, EURGBP, EURCHF, EURUSD, USDCHF

currently live with AUDNZD and AUDCAD (on my other broker thank god)
Grabbing the bull by the horns!
  • #1,078
  • Jan 21, 2009 5:25pm Jan 21, 2009 5:25pm
Both buy and sell, Toothman? At .02 as a starting level? I had an 100X80 live account at .03 running with several other pairs and in December lost a fair amount of money. I'd have to check, but the EUR/USD didn't retrace the 100 pips needed until I sold out (naturally). But, it just kept going up and up.
Quoting Toothman
Try trading the EUR/USD with the 100/40 EA. You don't have to worry about spreads with this pair, even with IBFX. Returns are slow but steady. I've grown a $3000 account to $4170 (39%) since Oct. 26.
  • #1,079
  • Jan 21, 2009 6:31pm Jan 21, 2009 6:31pm
Quoting urbanFX
What settings are you using for the EURGBP Bob?
I am using a 60x35 and a 35 x 40. As long as you start 60-80 pips away from your median you should be fine. I am working on distance to entrance figues for each pair. That seems to be the key here. Getting enough distance from a median to make a pair stay in the range of an EA. I am also not taking into account the two huge spikes of Oct. because they are anamolies. Both of those events could have been avoided by watching for the big news stories. One was the bailout and the other was interest rate change. You really need to avoid those kind of stories. I would really be cautious with major stories coming from Washington when major legislation happens, if Chrysler does not restart in Feb, any interest rate changes coming up especially from Europe. These are the type of things that ruin the EAs range but they are forseeable if you watch the news and calendar from FF.

I am demo testing a formula that will work on about 8-10 pairs and let you trades .10-.20 lots. I will probably start a new thread because it will include recovery EAs also. It will be a complete package but I think it will take me several more days to develop. Unless the spreads change on the Aud/Nzd, which I dont expect will happen soon, I am getting very frustrated with the pair. So I work on developing EAs that will work withother pairs. Once you get distance from median set on a pair right it works very well. I have done 4 rescue trades on pairs now and that seems to be working. Yesterday's Usd/Jpy move netted me some nice money. It used to scare me when you see a pair move over 200 pips in an hour but now I just wait it out, when it stopped, I put on my rescue buy and bingo couple hours later out of trouble and sitting on a nice profit this time.
  • #1,080
  • Jan 21, 2009 6:49pm Jan 21, 2009 6:49pm
Thanks Bob. This is what I was trying to do, also. trying to visually look at each pair to see if I can estimate just how far away from center would be best before the pair will usually retrace at least before 3-4 levels are hit. In some pairs, 120 or even 150 looks good. Not a lot of trades, but better ones. Thanks for the work you're doing on this and I look forward to it.
Quoting nanningbob
I am using a 60x35 and a 35 x 40. As long as you start 60-80 pips away from your median you should be fine. I am working on distance to entrance figues for each pair. That seems to be the key here. Getting enough distance from a median to make a pair stay in the range of an EA. I am also not taking into account the two huge spikes of Oct. because they are anamolies. Both of those events could have been avoided by watching for the big news stories. One was the bailout and the other was interest rate change. You really need to avoid those kind of...
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