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Nanningbob 60x90 EA

  • #781
  • Feb 26, 2009 11:58am Feb 26, 2009 11:58am
A visual backtest showed that a lot of pairs will temporarily hit anywhere between 200 to 250, and reverse. These are the sudden spikes, rather than a slow gradual climb from the MA. These trades are rare. Maybe only one a week or every other week. I have an alert set up to notify me when that happens.
If someone wanted to be ultra conservative, there's no reason they couldn't set this EA to only trade at 200 or 225 away. At that level, it's almost guaranteed a reversal of at least 60 pips at some point before it goes up another 500.
Quoting charvo
This could be significantly enlightening to me. Actullly, if we read the trades, we found that mostly, 1st level is good for a winning trade. With enough distance pips, this method could be simplified into a 1-step retrace trading system.

ok, no more diverting...... hoho.
  • #782
  • Feb 26, 2009 12:06pm Feb 26, 2009 12:06pm
Yeah, I can't seem to think of a reason if you believe that for every x move there will be an x retrace, that moving this out farther wouldn't be beneficial.
Was trying to figure out last night what would be the downfall of making this a 30x100, or 50x150 method.
For now I am trusting bob's research and testing, but am definitely open to reducing risks even if it cuts down on the return some. Heck 10% a week is a very fine return I don't really need the 40% that i'll probably end up with this week if it means the risk I had to endure on the yen pairs would not have existed.

And yes, as far as fxdd is concerned, once you have your account, you simply email them and tell them to convert it to a micro account (.10/pip).
  • #783
  • Feb 26, 2009 12:16pm Feb 26, 2009 12:16pm
Quoting tazmaan
And yes, as far as fxdd is concerned, once you have your account, you simply email them and tell them to convert it to a micro account (.10/pip).
Thanks for letting me know, and also thanks to Hazenvnn.

As to Paradox's comments, I think that it will be a great strategy if we use less pips, say, 150 pips, but only trade Asian session everyday. i did a backtest this morning, seemingly fine...... will let you know later tonight after i'm home.
  • #784
  • Feb 26, 2009 2:06pm Feb 26, 2009 2:06pm
This EA has produced $125 on the EUR/JPY over the last two weeks with these settings- $2000 starting at .10 lots, max. levels (5),mult. (3) trading on a 5M chart.
  • #785
  • Feb 26, 2009 2:45pm Feb 26, 2009 2:45pm
I believe the minimum account size for 0.10 cents/pip account, micro, should be 10K and the minimum account size for 0.01 cent/pip account, nano, should be 1K. The only reason I use IBFx is they have nano lots which allow me to trade a 1K account. These minimum account size are flexible depending on the number of pairs traded.

TimeFreedom
  • #786
  • Feb 26, 2009 3:20pm Feb 26, 2009 3:20pm
Dear Thread,

Does anyone hold trades back to the median line as opposed to 60 pips? From visual backtesting, it seems
you'll make more money and it's just as probable as
60 pips.

Lenoxer
  • #787
  • Feb 26, 2009 3:38pm Feb 26, 2009 3:38pm
Why median line? Opposite signal.

Quoting Lenoxer
Dear Thread,

Does anyone hold trades back to the median line as opposed to 60 pips? From visual backtesting, it seems
you'll make more money and it's just as probable as
60 pips.

Lenoxer
  • #788
  • Feb 26, 2009 4:06pm Feb 26, 2009 4:06pm
Quoting TimeFreedom
I believe the minimum account size for 0.10 cents/pip account, micro, should be 10K and the minimum account size for 0.01 cent/pip account, nano, should be 1K. The only reason I use IBFx is they have nano lots which allow me to trade a 1K account. These minimum account size are flexible depending on the number of pairs traded.

TimeFreedom
TF- I'm trading the EUR/JPY by itself with the above settings.
  • #789
  • Feb 26, 2009 4:35pm Feb 26, 2009 4:35pm
I would love to be able to trade this, but I am having a hard time finding a programmer to change it over to a 5 digit ECN....

If you are out there, please let me know
  • #790
  • Feb 26, 2009 4:47pm Feb 26, 2009 4:47pm
The moving average moves. If you look at the chart and put on crosshairs, you'll see many instances where the entry that was at 90 PIPS away from center would be a loser if you traded out when the pair hit the white line after your trade. In many cases, it would be a big loser.
Quoting Lenoxer
Dear Thread,

Does anyone hold trades back to the median line as opposed to 60 pips? From visual backtesting, it seems
you'll make more money and it's just as probable as
60 pips.

Lenoxer
  • #791
  • Feb 26, 2009 4:57pm Feb 26, 2009 4:57pm
Apart from spreading your risk could anyone enlighten me as to the benefit of using multiple currencies, as opposed to just one, and increasing the amount/lot on that single currency?

Thanks
  • #792
  • Feb 26, 2009 5:18pm Feb 26, 2009 5:18pm
no other reason other than spreading risk and/or determining which pairs cooperate with this method the best, imo
  • #793
  • Feb 26, 2009 6:20pm Feb 26, 2009 6:20pm
Quoting drandycollings
Apart from spreading your risk could anyone enlighten me as to the benefit of using multiple currencies, as opposed to just one, and increasing the amount/lot on that single currency?

Thanks
The drawback of using one currency is you have all your eggs in one basket. When you do suffer a loss it may take days or even weeks to recover the loss. With multiple currencies I found that I can recover most losses in a day or two. That is changing as some of us are playing with 2 or 3 level systems and just taking small losses. I am thinking of doing that live soon with a .10 broker and leaving IBFX.
  • #794
  • Feb 26, 2009 6:21pm Feb 26, 2009 6:21pm
Quoting drandycollings
Apart from spreading your risk could anyone enlighten me as to the benefit of using multiple currencies, as opposed to just one, and increasing the amount/lot on that single currency?

Thanks
currently i have one live account with 22 currencies going...

the other live account with AUDNZD, AUDCAD and NZDCAD...


the 3 currency one has gone level 2 once so far this week, and has far less risk and worry with it cos the currencies really range well...

however to be true to live testing i will keep this going in coming weeks...
Grabbing the bull by the horns!
  • #795
  • Feb 26, 2009 6:55pm Feb 26, 2009 6:55pm
Quoting paradoxical
The moving average moves. If you look at the chart and put on crosshairs, you'll see many instances where the entry that was at 90 PIPS away from center would be a loser if you traded out when the pair hit the white line after your trade. In many cases, it would be a big loser.
Yes and this usd/jpy using 90 3L is still in and right now it has to go past the third level sell to even get out of this buy. But I ended up selling more and just need 97.00 to get out.. And unfortunately I've had no others hit besides that usdcad yesterday that was spot on.
  • #796
  • Feb 26, 2009 6:58pm Feb 26, 2009 6:58pm
Hi

[quote=whitegoodman;2567455]currently i have one live account with 22 currencies going...Quote]
Do you use the original setting of the Ea ? if so how are you handling Usd/jpy which has been in a very long draw down for the last four days with not enough retracement.
Regards
  • #797
  • Edited 8:12pm Feb 26, 2009 7:54pm | Edited 8:12pm
My entry on the USD/JPY is not until 120 away. As in the case of this pair, and others where I enter at further distances away, there's a huge difference in going deep into the trade. Conversely, I don't get many trades. I look at it like an unbreakable rubber band being stretched. At zero, there's no tension. At 50, there's some, and in quiet times, it'll just go back to center like a lazy summer day. At 100, the tension gets stronger, and if it's a weak pair, it can't handle the tension and starts back. The stronger pairs hang on, huffing and puffing like a strongman pulling a freight train. Every point after that brings more and more tension. AT 120-130, the tension becomes unbearable for some pairs, and the strongman just can't stand it anymore, and has to go back or be flung back by the built up pressure. On occasion, you get a pair that seems to defy gravity and keeps on going and going, past 140, 150, 160, or even more. This guy must be superman or something. These are the extreme ranges. The point where that rubber band almost has to go back down or explode. Like a stick of kryptonite padlocked to supermans neck, you'll see these pairs reverse just as fast as they skyrocketed, as if superman finally met his match. Those are the trades that I love. (I hate killing superman off, though)
Quoting llambert3
Yes and this usd/jpy using 90 3L is still in and right now it has to go past the third level sell to even get out of this buy. But I ended up selling more and just need 97.00 to get out.. And unfortunately I've had no others hit besides that usdcad yesterday that was spot on.
  • #798
  • Feb 26, 2009 8:05pm Feb 26, 2009 8:05pm
Quoting paradoxical
My entry on the USD/JPY is not until 120 away. As in the case of this pair, and others where I enter at further distances away, there's a huge difference in going deep into the trade. Conversely, I don't get many trades. I look at it like an unbreakable rubber band being stretched. At zero, there's no tension. At 50, there's some, and in quiet times, it'll just go back to center like a lazy summer day. At 100, the tension gets stronger, and if it's a weak pair, it can't handle the tension and starts back. The stronger pairs hang on, huffing and...
Yes, you can BET once I get out of this I will modify this one.
  • #799
  • Feb 26, 2009 8:16pm Feb 26, 2009 8:16pm
[quote=harar;2567530]Hi

Quoting whitegoodman
currently i have one live account with 22 currencies going...Quote]
Do you use the original setting of the Ea ? if so how are you handling Usd/jpy which has been in a very long draw down for the last four days with not enough retracement.
Regards
i closed it out for a small loss earlier in the week, think it was roughly 4% loss, made it back up within a few hours tho...

ive customised settings for all of the 22 currencies...

my USDJPY setting is.....consulting notebook..... 90 pips from MA, 140MA, 5min chart
Grabbing the bull by the horns!
  • #800
  • Edited 3:53pm Feb 27, 2009 12:28am | Edited 3:53pm
I am posting a copy of the report that my MT Trade Analyzer Produces... the first person that fixes the EA set to work on the ECN properly gets a free copy of the program that generates that report...

http://www.mbtrading.com/metaTrader4Differences.aspx

I am not looking to sell my trade analyzer program... it is a gift for those that help others... just post the ECN set to this forum for everyone and send me a PM of the best place to send it to you... I also have some ideas on making this more dynamic so PM if you are interested in that project as well (the report should give you an indication of how I think)... the first thing is to get the set to one EA though then worry about the rest...

Thanks
Attached File(s)
File Type: zip MT4StatementReport02-26-2009.zip   100 KB | 396 downloads
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