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Nanningbob 60x90 EA

  • #21
  • Feb 1, 2009 5:11am Feb 1, 2009 5:11am
Bob, do we have to trade all these pairs or is it possible to trade 10 or less?

If it is, do we just close the charts of the pairs we do not wish to trade?

I ask this as I am living in Japan and the spread on some of these pairs over here is crazy.
Starting to see instead of just looking.
  • #22
  • Feb 1, 2009 5:17am Feb 1, 2009 5:17am
Quoting Rastaman
Bob, do we have to trade all these pairs or is it possible to trade 10 or less?

If it is, do we just close the charts of the pairs we do not wish to trade?

I ask this as I am living in Japan and the spread on some of these pairs over here is crazy.
yeh of course... if your account is say $1000 you dont want to risk a margin call if your say trading dimes and a few of the currencies go level 3... sorta have to do the maths and see how many lots you can have open etc regarding margin usage etc...
Grabbing the bull by the horns!
  • #23
  • Feb 1, 2009 5:20am Feb 1, 2009 5:20am
Quoting Rastaman
Bob, do we have to trade all these pairs or is it possible to trade 10 or less?

If it is, do we just close the charts of the pairs we do not wish to trade?

I ask this as I am living in Japan and the spread on some of these pairs over here is crazy.

What is beautiful about this system you can trade one pair. You can find a currency pair that you like and do 1.00 or 10 dollar lots on. This is why this will end up being my best EAs. I already have one currency I am thinking of trading exclusively.

The other way is to get 1 or two pairs that trade well in each trading session. OR have news EAs that start at 150-180 instead 90 for first entrance. Make is so wide they can never bust it. Just some ideas.

I could see doing just news stories. Wait for news time. Let the pairs take off and ride them back in.

I think the only thing that will limit people now is their imagination. This is very very flexible.
  • #24
  • Edited 6:39am Feb 1, 2009 5:56am | Edited 6:39am
Okidoki....I was getting an error with all pairs "Waiting for update" after loading the profile, closed them down, opened 3 pairs manually and applied the 15M template.
Does this look good to go at the open of the Tokyo Session? This is a DEMO account of course.

Just working on setting up the SL,TP
Attached Image (click to enlarge)
Click to Enlarge Name: EA.jpg Size: 155 KB
Starting to see instead of just looking.
  • #25
  • Feb 1, 2009 6:44am Feb 1, 2009 6:44am
Quoting Rastaman
Okidoki....I was getting an error with all pairs "Waiting for update" after loading the profile, closed them down, opened 3 pairs manually and applied the 15M template.
Does this look good to go at the open of the Tokyo Session? This is a DEMO account of course.

Just working on setting up the SL,TP
You have 2 euro, 2 usd and 2 jpy, looks like a good mix to me.
  • #26
  • Feb 1, 2009 6:58am Feb 1, 2009 6:58am
Quoting Trader7
Hi there Bob,

Congratulations!

With the start of the new Lunar Year of the Ox and after all the fireworks and firecrackers to drive away the evil and the bad, this is as auspicious a time as any to launch your new improved turbo model.

I wish you success. May the PIPS be with you.

Cheers!

Trader7
Hey someone here knows some Chinese culture. We are beginning the second week of bang bang boom boom. They shoot off fireworks every night for 2 weeks. Sleep during the day more often for now. Well, Monday is a good day to start.
  • #27
  • Feb 1, 2009 7:16am Feb 1, 2009 7:16am
Quoting nanningbob
Hey someone here knows some Chinese culture. We are beginning the second week of bang bang boom boom. They shoot off fireworks every night for 2 weeks. Sleep during the day more often for now. Well, Monday is a good day to start.

Tell me about it....I live here in Japan with my Chinese wife, since Jan 26 she has been making Sui Gyoza all day. Hopefully, there will be some big bangs later..LoL.
Starting to see instead of just looking.
  • #28
  • Feb 1, 2009 7:18am Feb 1, 2009 7:18am
Quoting Rastaman
Hopefully, there will be some big bangs later..LoL.
haha what are you talking about
Grabbing the bull by the horns!
  • #29
  • Feb 1, 2009 7:25am Feb 1, 2009 7:25am
Quoting whitegoodman
haha what are you talking about
One has to sexercize to digest those Sui Gyoza dumplings and fortify one for the start of the trading week.
Get all those animalistic instincts out of one. LoL
Starting to see instead of just looking.
  • #30
  • Feb 1, 2009 8:05am Feb 1, 2009 8:05am
Nanningbob, your work on this is amazing!
  • #31
  • Edited 8:36am Feb 1, 2009 8:05am | Edited 8:36am
I can image the dark side of the recovery EA would be,

1. Cannot recover even with recovery EA which result in even huge loss

2. Using recovery EA will have to reduce the lot size of the original EA which means u could have earn more without using recovery EA and the extra earning could cover up ur losing trade

However, using recovery EA also means u will reduce the probability of losing.

Here is my though on trend trading VS range trading [this EA]

Trend trading

Many small losing trade, and few big winner. The big winner should cover up most/all losing trade with profit

Range trading

Many small winner and few big losing trade. It means that u win most of the time, but when it lose, it's gonna be big and it might just blow up ur account if u don't have enough margin. U cannot win all the time.

From my experience [Using Nanningbob EA], having enough margin is one of the importance requirement for using this system. Another point is that this EA is not a set and forget system, u still have to be alert and u have to be with ur trades once it reaches the max level and decide what to do.
  • #32
  • Feb 1, 2009 8:17am Feb 1, 2009 8:17am
Quoting nanningbob
I want everyone to understand that I trade a 400:1 leverage on IBFX. If I use 1000 dollars on a live account that is 4000 dollars on an account of 100:1. I dont want you to margin out because you did not estimate correctly your trading margins and lot usage.
Let's hope FINRA doesn't get their way, since they are proposing a
1.5:1 leverage cap for retail traders. NFA is proposing a 25:1 cap
for non-majors.

Goodbye US forex brokers.

Rob
  • #33
  • Feb 1, 2009 8:35am Feb 1, 2009 8:35am
Setup the EA for trading on the Tokyo Open tomorrow.
I will trade the Tokyo Aus open, close once AU closses, start again when London opens for the overlap with Tokyo. Then will do the same with London NY.

300,000 Yen Demo account.

Changed to only two pairs....EUR/USD & USD/JPY.

Price mode=1
Exit with stoch=False
Lots=0.1
TP=60
MyMoneyProfit Target=false
MyMoneyProfit Target=50.0
multiply=3.0
Max trades=3
pips=90
StopLoss=35
Trailing Stop=25

ANyone have any suggestions on these numbers or the exit on stoch?
Starting to see instead of just looking.
  • #34
  • Feb 1, 2009 8:36am Feb 1, 2009 8:36am
Quoting forexisfx
I can image the dark side of the recovery EA would be,

1. Cannot recover even with recovery EA which result in even huge loss

2. Using recovery EA will have to reduce the lot size of the original EA which means u could have earn more without using recovery EA and the extra earning could cover up ur losing trade

However, using recovery EA also means u will reduce the probability of losing.

Here is my though on trend trading VS range trading [this EA]

Trend trading

Many small losing trade, and few big winner. The big winner should...
You understand, thats why I am down to 3 or 4 levels. You can survive, no more blowing up the account unless you take the extra levels. We also cut out the middle to lessen the losses. Only your greed and pride stands in the way of making this work. The bottom line is this. Take your profits out after you earn them, that is how I have stayed on top of this. If I had let my profits ride I would be sitting on losses but I take them out to stay ahead.
  • #35
  • Feb 1, 2009 8:40am Feb 1, 2009 8:40am
Quoting ChicagoRob
Let's hope FINRA doesn't get their way, since they are proposing a
1.5:1 leverage cap for retail traders. NFA is proposing a 25:1 cap
for non-majors.

Goodbye US forex brokers.

Rob
Practically every US broker is opening offices overseas. We would still have other countries. The reason for this is so only the big guys get to play, someone will file an antitrust suit. Once USA banks see profit leaving the shores and going overseas instead they will put an end to it. They are a very powerful group. My experience in life is these things never go the way the rumors say they will go.
  • #36
  • Feb 1, 2009 8:43am Feb 1, 2009 8:43am
Quoting Rastaman
Setup the EA for trading on the Tokyo Open tomorrow.
I will trade the Tokyo Aus open, close once AU closses, start again when London opens for the overlap with Tokyo. Then will do the same with London NY.
U don't have to do that, just open up on Monday and close it before Friday US session. In between, if u see some importance news coming, turn off the EA and see what happens.
  • #37
  • Feb 1, 2009 8:49am Feb 1, 2009 8:49am
Alright guys, lets make some money next week
  • #38
  • Feb 1, 2009 8:52am Feb 1, 2009 8:52am
Quoting forexisfx
U don't have to do that, just open up on Monday and close it before Friday US session. In between, if u see some importance news coming, turn off the EA and see what happens.
Thanks for the input.

I will let it run while I trade my regular setups.

Just wondering if a 35 SL is enough on the 15M chart...?
Starting to see instead of just looking.
  • #39
  • Feb 1, 2009 9:13am Feb 1, 2009 9:13am
nanningbob, if i understand this correctly, it seems that recovery EA is very expensive to use. The DD requirement for recovery EA is many times the original EA. In order to use the recovery EA, we will need to reduce the lot size for the original EA and make less money on the original EA. Unless, the recovery EA itself is used very often, it's not worth using the recovery EA becoz it takes too much margin requirement ?

If the recovery EA is used very often, it's not longer a "recovery" EA but part of the original system ?
  • #40
  • Feb 1, 2009 9:56am Feb 1, 2009 9:56am
Quoting nanningbob
Practically every US broker is opening offices overseas. We would still have other countries. The reason for this is so only the big guys get to play, someone will file an antitrust suit. Once USA banks see profit leaving the shores and going overseas instead they will put an end to it. They are a very powerful group. My experience in life is these things never go the way the rumors say they will go.
Let's hope you're right, Bob. Fortunately, at this time, they are only
proposals, but the handwriting *is* on the wall.

Rob
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