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Trading aud/nzd successfully

  • #1,161
  • Jan 28, 2009 1:14pm Jan 28, 2009 1:14pm
Hi NanningBob and fellow thread followers,

Just a quick question. I see from all the various set ups running at present, they are all set so the TP is greater than the re-entry 30x20 30x25 etc.

HAs anyone ever tried the other way around, ie 25 (TP) x50 (re-entry) for example. Does anyone have any pros and cons they have come across

Been playing around with the latest version with the single buy or sell on various parameters and was just wondering what experiences anyone had had?

Kind regards

Andy
  • #1,162
  • Jan 28, 2009 1:56pm Jan 28, 2009 1:56pm
Quoting drandycollings
Hi NanningBob and fellow thread followers,

Just a quick question. I see from all the various set ups running at present, they are all set so the TP is greater than the re-entry 30x20 30x25 etc.

HAs anyone ever tried the other way around, ie 25 (TP) x50 (re-entry) for example. Does anyone have any pros and cons they have come across

Been playing around with the latest version with the single buy or sell on various parameters and was just wondering what experiences anyone had had?

Kind regards

Andy
Yes I am demo testing a 35x50 on the aud/nzd and a 60x90 on all currencies now. It is showing some great promise right now. Needs a couple of tweaks yet but getting there.
  • #1,163
  • Edited 3:25pm Jan 28, 2009 3:13pm | Edited 3:25pm
Boy was I glad I wasnt trading this news story. Would have gotten killed. Gaps all over the place. Eur/Nzd moved 685 pips in less than one hour, Aud/nzd 279 pips. Funny thing though I had one demo account I set up to trade dimes made over 900 play money today. DANG On my live account I closed out so I wouldnt be trading during news time. Ended up with a 2.00 profit I like the play money account better, wonder where I can spend that money???
Attached Image (click to enlarge)
Click to Enlarge Name: eur nzd.gif Size: 25 KB
  • #1,164
  • Jan 28, 2009 3:27pm Jan 28, 2009 3:27pm
Bob, on that 60X90, my spreadsheet shows you lose money if it goes 4 levels, depending on how much of an increase in lot size you use. You'd have to use 2.0 times to just about break even. On the other hand, that does give you a lot of pips to work with as far as the trade going against you.
  • #1,165
  • Jan 28, 2009 4:07pm Jan 28, 2009 4:07pm
Quoting nanningbob
Boy was I glad I wasnt trading this news story. Would have gotten killed. Gaps all over the place. Eur/Nzd moved 685 pips in less than one hour, Aud/nzd 279 pips. Funny thing though I had one demo account I set up to trade dimes made over 900 play money today. DANG On my live account I closed out so I wouldnt be trading during news time. Ended up with a 2.00 profit I like the play money account better, wonder where I can spend that money???
im so glad i learnt how to set the time thing in the EA, did not wanna catch that this morning....

on a side note I have added EURCHF and EURGBP to my live account after a few weeks demo-ing and never going over 2 levels....
Grabbing the bull by the horns!
  • #1,166
  • Jan 28, 2009 6:31pm Jan 28, 2009 6:31pm
Quoting nanningbob
It is a 2nd ea you use and turn on at your digression. You could also do it manually. When I have used it I was willing to go for two more levels so I used an EA. You can also do it manually by using support or resistance lines. You see you have gone past your ea range, you look at the next support or resistance line and put in a buy/sell at that point. This gives you a new higher TP line. If price never goes to the new support or resistance line you dont take the new entrance and maybe price retraces to the old TP line for you. Not too complicated...
What is the initial lot size for the recovery trades ? It is the continuation of the 4th level lot size ?
  • #1,167
  • Jan 28, 2009 6:45pm Jan 28, 2009 6:45pm
USD/CAD does well using a 30X20 EA with it set to take trades at 120 away from center. May be a little high for this pair, but I think it's safer getting in at higher levels.
  • #1,168
  • Jan 28, 2009 7:25pm Jan 28, 2009 7:25pm
Quoting forexisfx
What is the initial lot size for the recovery trades ? It is the continuation of the 4th level lot size ?
If you use a 3 level system the recovery EA starts at the 4th level. You then figure out at what lot you want the lot size to be at because you use a different multiplication. The recovery EA numbers are different than the initial EA that you are using. I am trying some different math figues with it to see what works good without racking up a lot of margin (DD).

On my demo account Yesterday from the pic I showed earlier on the Eur/Nzd it did 27 successful trades. More than all the other 22 currencies did together. Total 915.75
  • #1,169
  • Jan 28, 2009 7:26pm Jan 28, 2009 7:26pm
Quoting paradoxical
Bob, on that 60X90, my spreadsheet shows you lose money if it goes 4 levels, depending on how much of an increase in lot size you use. You'd have to use 2.0 times to just about break even. On the other hand, that does give you a lot of pips to work with as far as the trade going against you.
Think outside the box guy, you will get it.
  • #1,170
  • Jan 28, 2009 7:37pm Jan 28, 2009 7:37pm
Quoting drandycollings
Hi NanningBob and fellow thread followers,

Just a quick question. I see from all the various set ups running at present, they are all set so the TP is greater than the re-entry 30x20 30x25 etc.

HAs anyone ever tried the other way around, ie 25 (TP) x50 (re-entry) for example. Does anyone have any pros and cons they have come across

Been playing around with the latest version with the single buy or sell on various parameters and was just wondering what experiences anyone had had?

Kind regards

Andy
ive demo-ed things like this... the trick is not to let the gap between TP and re-entry get tooo large...

for example if you had tp of 20 and a re-entry every 120 you may risk not getting a retrace cos the re-entry might make you miss the retracements...

with frostys excel it makes for great testing of combos... at one stage i was testing things like TP 15 with rentry at 75 and stuff...
Grabbing the bull by the horns!
  • #1,171
  • Jan 28, 2009 7:42pm Jan 28, 2009 7:42pm
That's what I was doing also. Lots of things to do and learn with this EA. Think I'll wait for bob to post further info on his recent checking.
Quoting whitegoodman
ive demo-ed things like this... the trick is not to let the gap between TP and re-entry get tooo large...

for example if you had tp of 20 and a re-entry every 120 you may risk not getting a retrace cos the re-entry might make you miss the retracements...

with frostys excel it makes for great testing of combos... at one stage i was testing things like TP 15 with rentry at 75 and stuff...
  • #1,172
  • Jan 28, 2009 8:41pm Jan 28, 2009 8:41pm
Quoting paradoxical
USD/CAD does well using a 30X20 EA with it set to take trades at 120 away from center. May be a little high for this pair, but I think it's safer getting in at higher levels.
May I ask what version you are using? And how could I change settings to take trades at 120 away from center?
  • #1,173
  • Jan 28, 2009 10:12pm Jan 28, 2009 10:12pm
Quoting michaelhryu
May I ask what version you are using? And how could I change settings to take trades at 120 away from center?
You can use any version of the 30x20buysell EA and alter it to change MA as well as distance and levels. Double click (or right click, modify) to open it with Meta editor and go to the end of the program. You will find something like this:
//Sell order

if( Ask > Var4+(50*Point))
{
myOrderType=1;//SELL
}

//buy order

if( Bid < Var4-(40 * Point))
{
myOrderType=2;//BUY
}

These parameters indicate the distance from the median. Little above this, you will also find MA settings.

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  • #1,174
  • Jan 29, 2009 1:31am Jan 29, 2009 1:31am
Quoting nanningbob
If you use a 3 level system the recovery EA starts at the 4th level. You then...
Example, x1.8, 30X20, lvl 3, 0.5 lot

If i were to do recovery trade manually, what will be my starting lot size ? I bet i cannot be 0.01 isnt it ?
  • #1,175
  • Jan 29, 2009 2:55am Jan 29, 2009 2:55am
Quoting forexisfx
Example, x1.8, 30X20, lvl 3, 0.5 lot

If i were to do recovery trade manually, what will be my starting lot size ? I bet i cannot be 0.01 isnt it ?
With a 20 reentry, I am not working with those type of figures. I guess it would depend how far out of range the trade had gotten and what it would take to bring the loss down to a bite size chunck. The question would be what would it take to make the trade platable again. Next level 2x the previous and 50 PIPS? You have to work some math there. I am working with 90 -100 point reentries and the trade is 3-500 pips from its median. You are sitting on an almost guaranteed retrace for most currencies. The Aud/Nzd probably never goes over 200-250 from its median and you can plan from there. From that extreme what lot and what pips gets me where I want to be??
  • #1,176
  • Jan 29, 2009 5:49am Jan 29, 2009 5:49am
Is anyone having luck with this pair right now, considering the wide spread? Also wondering if anyone has customized eas for each individual currency, rather than taking a blanket approach.
  • #1,177
  • Jan 29, 2009 6:20am Jan 29, 2009 6:20am
Quoting jthomas71
Is anyone having luck with this pair right now, considering the wide spread? Also wondering if anyone has customized eas for each individual currency, rather than taking a blanket approach.
yeh im customising for each currency...

audnzd im sorta giving a rest atm due to the spreads...

audcad is 70pips away and 35x30
eurgbp 70 pips, 45x40
eurchf 70pips, 45x40
eurusd 110pips, 45x40

ive set all to max 5 levels atm, sorta doing manual trades if it goes past (luckily hasnt yet - avoided all 'red' news items for relevant currencies)
. Bob will shed some light on it soon i hopes
Grabbing the bull by the horns!
  • #1,178
  • Jan 29, 2009 7:50am Jan 29, 2009 7:50am
Quoting jthomas71
Is anyone having luck with this pair right now, considering the wide spread? Also wondering if anyone has customized eas for each individual currency, rather than taking a blanket approach.
I am, actually have broken the currencies into 5 groups. Slow, medium slow, medium, fast and too volatile. I may post my results this weekend and thoughts of how a this new system can work. Each group takes a slightly different but similar approach. Has more to do with the TF than the numbers.
  • #1,179
  • Jan 29, 2009 7:51am Jan 29, 2009 7:51am
Quoting whitegoodman
yeh im customising for each currency...

audnzd im sorta giving a rest atm due to the spreads...

audcad is 70pips away and 35x30
eurgbp 70 pips, 45x40
eurchf 70pips, 45x40
eurusd 110pips, 45x40

ive set all to max 5 levels atm, sorta doing manual trades if it goes past (luckily hasnt yet - avoided all 'red' news items for relevant currencies)
. Bob will shed some light on it soon i hopes
My range is a little bit bigger but your not too far away.
  • #1,180
  • Jan 29, 2009 10:44am Jan 29, 2009 10:44am
I'm doing alright with it. Got stopped out the first week of the month and will still have about 60% growth for the month.

Quoting jthomas71
Is anyone having luck with this pair right now, considering the wide spread? Also wondering if anyone has customized eas for each individual currency, rather than taking a blanket approach.
"The market giveth and the market taketh away"
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