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Trading aud/nzd successfully

  • #1,081
  • Jan 21, 2009 6:59pm Jan 21, 2009 6:59pm
Quoting paradoxical
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.
i have EURGBP EURCHF CHFJPY EURUSD USDCHF starting 90 pips away on the 5min....

when i was eyeballing the charts i was hoping to see just a few slight touches to the first line from the MA... seems to work ok
Grabbing the bull by the horns!
  • #1,082
  • Edited 8:07pm Jan 21, 2009 7:39pm | Edited 8:07pm
Here is a recovery pic of the EUR/CHF now in progress as I am doing it. See how price went beyond my original 4 Levels I had my EA set at. I manually added the 5th line after 4 hours. You will see it had established Resistance line 4 hours in a row so I felt that was the best place to put it. Now price is moving down during the JPY session. Barring any major surprises I hope to get my TP soon. This one will turn into a nice profit with 2 levels making profit. If price had not established new highs I would have waited until it did and then enter the 5th level. Sometimes like this one, I will get a nice profit but if it went higher then I would only be looking to reduce my loss. If I closed this trade out right now my loss would be only 15 dollars because the new entrance has given me a profit. However, I will stay in because I feel fairly certain I will get the TP level. To protect the recovery you could put a SL in right now and guarantee a small loss if price reversed on you. I also have two more levels in reserve if I needed them.

Also, notice that two of my TP (red dash lines) are above a previous high from 3 days ago. That is good because old highs become new support levels. That is why I am confident I will eventually get a full TP on this trade. Just some things to look for when trading and planning a higher level reentry.
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  • #1,083
  • Jan 21, 2009 8:04pm Jan 21, 2009 8:04pm
Quoting whitegoodman
i have EURGBP EURCHF CHFJPY EURUSD USDCHF starting 90 pips away on the 5min....

when i was eyeballing the charts i was hoping to see just a few slight touches to the first line from the MA... seems to work ok
Thats interesting. On one of my demos I am working with 90 also. Interesting how we saw the same thing.
  • #1,084
  • Jan 21, 2009 9:11pm Jan 21, 2009 9:11pm
Quoting paradoxical
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.
No, I'm using the 100+40 1D .02 which only buys or only sells depending on the 2MA. I've gotten every retrace I've needed in the EUR/USD since Oct.26th. with this week going to level 13 for the first time before retracing 100 pips. I wasn't trading this EA during the first two weeks of Oct. but for what it's worth, the strategy tester shows it would have survived those weeks also. I'm done for the week with a hefty $242 increase in the account for this week.
  • #1,085
  • Jan 21, 2009 9:31pm Jan 21, 2009 9:31pm
Quoting nanningbob
Thats interesting. On one of my demos I am working with 90 also. Interesting how we saw the same thing.
must be true what they say about great minds...

im enjoying the EA with the use of the MA a hell of a lot more, less risk i feel... for example we have 50pips till first entry... there may be a 100pip run from the first sell line to the first buy line... now on the old EA we would be a few levels deep and getting a little 'hows your father', but now at worst its one entry and quite comfortable...
Grabbing the bull by the horns!
  • #1,086
  • Jan 21, 2009 10:00pm Jan 21, 2009 10:00pm
Quoting whitegoodman
must be true what they say about great minds...

im enjoying the EA with the use of the MA a hell of a lot more, less risk i feel... for example we have 50pips till first entry... there may be a 100pip run from the first sell line to the first buy line... now on the old EA we would be a few levels deep and getting a little 'hows your father', but now at worst its one entry and quite comfortable...
Not only that but we have added a recovery feature also that you control not the EA, so you know the risks you are taking before you add onto the position or you can bow out with a much smaller loss than the old systems. I cant wait to put the finishing touches on this and put it out for testing.
  • #1,087
  • Jan 21, 2009 10:50pm Jan 21, 2009 10:50pm
Quoting nanningbob
Not only that but we have added a recovery feature also that you control not the EA, so you know the risks you are taking before you add onto the position or you can bow out with a much smaller loss than the old systems. I cant wait to put the finishing touches on this and put it out for testing.
How much fund do u think we need in order to trade the those 8-10 pairs ?
  • #1,088
  • Jan 21, 2009 10:52pm Jan 21, 2009 10:52pm
Quoting nanningbob
Not only that but we have added a recovery feature also that you control not the EA, so you know the risks you are taking before you add onto the position or you can bow out with a much smaller loss than the old systems. I cant wait to put the finishing touches on this and put it out for testing.
I am happy that I can do away with that Lot Size which threatens to blow your account any moment. So scary with this bumpy AUDNZD. I have decided not to have a lot size I am not comfortable with in the first place. Just not worth it. I am also thinking of doing away with audnzd altogether since present EA should handle few of the regular pairs well.
"Put all your efforts in becoming effortless"
  • #1,089
  • Jan 21, 2009 11:13pm Jan 21, 2009 11:13pm
Quoting forexisfx
How much fund do u think we need in order to trade the those 8-10 pairs ?
I am running .02 on 1000 dollars and it is staying within 15% of the account so far. That is even after 4 pairs went the limit and two pairs I added a 5th level and one a 6th level. Both the Eur/chf and USD/JPY went on runs yesterday and I wasnt over 100 dollars if deficit. I have pocketed about 150 in profit so far. I plan on adding a fine tuning I want to what I was using and that will decrease margin usage, fewer trades but use much bigger lots. .10 lots is where I want to go with 1000 dollars. It is a 3 level system versus the 4 I use now. I am looking at 90-150 distance versus the 60-80 I have been using.
  • #1,090
  • Jan 21, 2009 11:38pm Jan 21, 2009 11:38pm
oooh interesting...

im live with audnzd and audcad atm, shutting it off for big news stories... started with $1500 over 2 accounts yesterday morning... 0.1 inital lot size (micro lot), now up to $1800...

though im using different re-entries and TP with more levels...

very interested to see what bob has come up with... will be watching for a new thread

Ill tell you the main thing ive noticed watching the same charts over 2 different brokers is how bad ibfx are with their price feed, spreads etc... up to 10 pips away from my GOmarkets price and up to 50pip spread at times... ill give it a week then im taking me money away
Grabbing the bull by the horns!
  • #1,091
  • Jan 22, 2009 6:44am Jan 22, 2009 6:44am
Quoting whitegoodman
oooh interesting...

im live with audnzd and audcad atm, shutting it off for big news stories... started with $1500 over 2 accounts yesterday morning... 0.1 inital lot size (micro lot), now up to $1800...

though im using different re-entries and TP with more levels...

very interested to see what bob has come up with... will be watching for a new thread

Ill tell you the main thing ive noticed watching the same charts over 2 different brokers is how bad ibfx are with their price feed, spreads etc... up to 10 pips away from my GOmarkets price...
How do you know it isn't the Gomarkets feed that is off or a combination of the two?
  • #1,092
  • Jan 22, 2009 6:53am Jan 22, 2009 6:53am
Quoting Toothman
How do you know it isn't the Gomarkets feed that is off or a combination of the two?
that may be true, im just shitty at their crappy spread...much more profitable on GO using exact same settings.. not that im saying GO is great just more reliable spread wise
Grabbing the bull by the horns!
  • #1,093
  • Jan 22, 2009 7:34am Jan 22, 2009 7:34am
Quoting whitegoodman
that may be true, im just shitty at their crappy spread...much more profitable on GO using exact same settings.. not that im saying GO is great just more reliable spread wise
Let us know how quickly they pay when you ask for your money??
  • #1,094
  • Jan 22, 2009 7:36am Jan 22, 2009 7:36am
Just thought I would let you know. If you take the small loss, you are high up in the chart, so as price comes back to the median it earns money and helps in closing out that loss. This new recovery system works great if you use it properly.
  • #1,095
  • Jan 22, 2009 10:03pm Jan 22, 2009 10:03pm
very interesting article guys...

http://www.sfomag.com/article.aspx?ID=598&issueID=35
Grabbing the bull by the horns!
  • #1,096
  • Jan 22, 2009 11:42pm Jan 22, 2009 11:42pm
Quoting whitegoodman
very interesting article guys...

http://www.sfomag.com/article.aspx?ID=598&issueID=35
Yup fits my thinking. I read an article similar to this over a year ago and was foundational to my thinking. In the Holy Grail thread I talked several times how professional traders phase in their trades instead of picking an exact position. This is what I am trying to get my EAs to do.l Good read guys. If you disagree strongly with this guy dont trade my system.
  • #1,097
  • Jan 23, 2009 3:49am Jan 23, 2009 3:49am
You could consider this as an expensive lottery ticket. ^^
Just want to know how long this will work out.
I think this might even work for 3-4 weeks which would lead to a staggering
return. Drawdown is only 6%. Still impressive even with "huge" lotsize.
Not to many trades the last days.
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  • #1,098
  • Jan 23, 2009 4:07am Jan 23, 2009 4:07am
Quoting Tjpld
You could consider this as an expensive lottery ticket. ^^
Just want to know how long this will work out.
I think this might even work for 3-4 weeks which would lead to a staggering
return. Drawdown is only 6%. Still impressive even with "huge" lotsize.
Not to many trades the last days.
this a live account with 1hour 40MA?
Grabbing the bull by the horns!
  • #1,099
  • Jan 23, 2009 5:00am Jan 23, 2009 5:00am
Unfortunately not live account. If there is a good chance to repeat such "runs" I might give it a try with a small amount of money.
1 Hour 30x20 buy sell. Standard settting.
I use 1 mini lot per 1000 USD. Now with 2700 USD it's set to 2.7
Everything else is default. In the last 3-4 days it has only placed 3-4 trades per day if any. Lets see how it turns out.
  • #1,100
  • Jan 23, 2009 6:58am Jan 23, 2009 6:58am
Quoting whitegoodman
very interesting article guys...

http://www.sfomag.com/article.aspx?ID=598&issueID=35
Great read White! With large enough an account and ensuring a possible cumulative loss of not more than 1% of account in any batch of phased entry,one might eventually break Bruce Kovner's record of 30years of slamming the market...lol

And Bob,count me in! I am gonna keep trading your system for life!!!


Charles.
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