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Nanningbob 60x90 EA

  • #981
  • Mar 6, 2009 1:54pm Mar 6, 2009 1:54pm
  •  dethl
  • | Joined Mar 2009 | Status: Digital Jack-Of-All-Trades | 36 Posts
Quoting nanningbob
Glad you like it but I have tried that and it will wipe out a small account. Make sure you take out all the 5M and 15M charts and you may have a chance. Good luck.
How long does it take to wipe out a small account? Trading on pennies I haven't been able to make this EA wipe me out as of yet. The demo balance of $50 is now up to $86.82. I've actually been looking for a good EA for micro accounts and this one seems to be working quite well. Big kudos to you!

When I go live I'll take out the 5M and 15M charts and see how that works and report the results to the thread. If everything seems fine, I'll go to 15M and test that and then 5M.

EDIT: Would it be advisable to lower the S/L amount to prevent a total wipe?

EDIT2: Closed all my demo orders for the weekend. Don't want the gap to kill me.
  • #982
  • Mar 6, 2009 1:57pm Mar 6, 2009 1:57pm
Quoting acosta2269
JT/Bob,

Am I understanding this setup correctly in that it would result in a lower drawdown (less than 1/5 by my calculation) but also results in a lower profit per lot. Since the drawdown is lower, we can use higher lots which more than makes up for the lower profit/lot, which results in a higher overall profit.

Is that logic correct or are there other benefits?
Yes, exactly, more currencies trading with higher lots and fewer levels and smaller relative drawdown per trade.
  • #983
  • Mar 6, 2009 1:59pm Mar 6, 2009 1:59pm
So this week has performed very well, nothing like the DD I had to endure last week. I knew last week was due to the jpy pairs going a bit crazy, and knew it was not typical of what i've seen in my demoing.
So knowing what the DD and margin used stats were, I put it on live this week (took alot of flack for it also). These stats are with no interference manually, other than slowly closing out trades before close of market.

Anyhow stats for this week:
2k balance, trading .01, .03, .09, .27 on fxdd
profit +$536.19
max open loss -$196
max margin used $204.85

Last week was +$800 something, however the DD was big. This falls in line with previous weeks stats for me.

My demo running level3
profit +$491
max open loss -$114
max margin used $142

Gotta love it, and I've said thanks to bob probably 10 times already, but for the last time, thank you bob!!
  • #984
  • Mar 6, 2009 2:02pm Mar 6, 2009 2:02pm
Quoting tazmaan
So this week has performed very well, nothing like the DD I had to endure last week. I knew last week was due to the jpy pairs going a bit crazy, and knew it was not typical of what i've seen in my demoing.
So knowing what the DD and margin used stats were, I put it on live this week (took alot of flack for it also). These stats are with no interference manually, other than slowly closing out trades before close of market.

Anyhow stats for this week:
2k balance, trading .01, .03, .09, .27 on fxdd
profit +$536.19
max open loss -$196
max margin...
Since you are live with FXDD, did you get them to make your account micro for a penny a pip or is the .01 actually 10cents/pip?
  • #985
  • Mar 6, 2009 2:05pm Mar 6, 2009 2:05pm
Quoting acosta2269
JT/Bob,

Am I understanding this setup correctly in that it would result in a lower drawdown (less than 1/5 by my calculation) but also results in a lower profit per lot. Since the drawdown is lower, we can use higher lots which more than makes up for the lower profit/lot, which results in a higher overall profit.

Is that logic correct or are there other benefits?
YUP also fewer less risky pairs. You will get 1-4 trades a week on an average. Gbp/Usd did 7 trades this last week.
  • #986
  • Mar 6, 2009 2:06pm Mar 6, 2009 2:06pm
Quoting llambert3
Since you are live with FXDD, did you get them to make your account micro for a penny a pip or is the .01 actually 10cents/pip?
No, the lowest they allow is .10cents/pip
  • #987
  • Mar 6, 2009 2:08pm Mar 6, 2009 2:08pm
Quoting dethl
How long does it take to wipe out a small account?...
If there are strong fundamentals and all the currencies move you will margin out. As long as the fundamentals are weak you are not getting deep in the hole. I think I posted a pic of a small account on pg 1 and what happened.
  • #988
  • Mar 6, 2009 2:16pm Mar 6, 2009 2:16pm
Quoting tazmaan
So this week has performed very well, nothing like the DD I had to endure last week....
First, a lot of guys have said thanks and I dont answer each one because it would take up a lot of thread space. But I want to acknowledge that I appreciate each comment. It is a good feeling that people may have a chance at getting ahead in life. It also saves me a lot of demo time myself as people report what is working best. JT is using a 200x100 and I am using a 150x100 with similar results. So we will see how it goes but the DD and range is just fantastic. I start 100 above and below with 3 levels x150 that gives me an EA with a 1100 range. That is going to be hard to beat even on the worst of days. Anyway, good luck to you all, exciting days are ahead.

Second please keep us posted on FXDD, If they dont widen their spreads as much as IBFX does there will be a lot of people interested in them.

Third, has anyone got this working on MBtrading yet. I have not been able to get mine working on their platform.
  • #989
  • Mar 6, 2009 2:20pm Mar 6, 2009 2:20pm
Quoting tazmaan
No, the lowest they allow is .10cents/pip
I see.. well still if it was a penny the amount would've been $53 which is still great. I think you said you didn't have a loser yet, but usdjpy ended up hitting the stop. Were you one of the ones that got out of that before that happened? At .10 and 4L, looks like the max loss is $1082, so hopefully it only happens on one currency at a time.
  • #990
  • Mar 6, 2009 2:47pm Mar 6, 2009 2:47pm
Thanks bob, I didn't mean to imply that you had to respond to my thank you, I was just making sure I said it again
I will definitely report if anything unusual happens with fxdd. However, I have in the past used a spread monitor that ran for a couple weeks straight on fxdd to see if they widened their spreads at all and I just never noticed it. None of the spreads ever moved even a single pip over that 2 week period, so I am confident that at least for now, they are nowhere near the crooks ibfx is.

I'd be tempted to start a new demo next week using the 100x200 you guys are talking about. Do you think you can post some set files this weekend? The part about it still starting 90 pips away from the ma has me a little confused.

Llambert, let me know when the usdjpy caused a problem for you, and I'll take a look at my account and see what transpired here. I think I didn't interfere manually all week, but maybe I saw a problem and closed it out for a small loss or something. I really can't be sure (too many demo's running, and my live to keep track of). Give me a timeframe for usdjpy and i'll be sure to let you know what happened here.
  • #991
  • Mar 6, 2009 2:54pm Mar 6, 2009 2:54pm
Quoting jthomas71
I use the exact settings and currencies as laid out in Bob's first post....

This is a brilliant idea Jt. I went ahead and took Nanningbobs original profile and changed every pair to your settings. This the profile for all 23 pairs below. I set lots to .05.
Attached File(s)
File Type: zip jt 23 pairs.05 lot.zip   35 KB | 447 downloads
  • #992
  • Mar 6, 2009 7:31pm Mar 6, 2009 7:31pm
I left EA run during NFP report today and it did just fine with default setting minus 1 time frame. Would probably have been out of the market thur pm. with real money though .I decided to take the plunge. Will be going live with this EA as soon as check clears with IBFX.
  • #993
  • Mar 7, 2009 8:01am Mar 7, 2009 8:01am
Quoting tazmaan
I'd be tempted to start a new demo next week using the 100x200 you guys are talking about. Do you think you can post some set files this weekend? The part about it still starting 90 pips away from the ma has me a little confused.
I would appreciate that too. I am a little confused on how to make the necessay adjustments.

I am currently live with a $4000 account trading 11 pairs at .03 lots each. I am up $160. I am planning on adding either the eur/nzd or gbp/nzd using a 45 s/l starting Monday.

Thank you so much for sharing and all your work on this. I be sponsoring a child with your charitable organization soon. It is a very worthy charity.

Thanks again.
  • #994
  • Mar 7, 2009 10:17am Mar 7, 2009 10:17am
Quoting tazmaan

Llambert, let me know when the usdjpy caused a problem for you, and I'll take a look at my account and see what transpired here. I think I didn't interfere manually all week, but maybe I saw a problem and closed it out for a small loss or something. I really can't be sure (too many demo's running, and my live to keep track of). Give me a timeframe for usdjpy and i'll be sure to let you know what happened here.
2/23 10gmt candle hit the 1st level... even at 4L it never came down 60 pips. It hit the stop on 3/5. I was in the trade, but I added on when it stalled out and took a profit, but I kept watching it just to see what would happen.
  • #995
  • Edited 12:13pm Mar 7, 2009 12:10pm | Edited 12:13pm
Quoting pogibaby
I would appreciate that too. I am a little confused on how to make the necessay adjustments.

I am currently live with a $4000 account trading 11 pairs at .03 lots each. I am up $160. I am planning on adding either the eur/nzd or gbp/nzd using a 45 s/l starting Monday.

Thank you so much for sharing and all your work on this. I be sponsoring a child with your charitable organization soon. It is a very worthy charity.

Thanks again.
Go to your navigator, double click an ea, scroll down inputs, change max trades to 2, tp to 100, pips to 200, and stoploss to 400. I'm not saying it's a holy grail, it just worked really well last week.
  • #996
  • Mar 7, 2009 4:03pm Mar 7, 2009 4:03pm
Quoting llambert3
2/23 10gmt candle hit the 1st level... even at 4L it never came down 60 pips. It hit the stop on 3/5. I was in the trade, but I added on when it stalled out and took a profit, but I kept watching it just to see what would happen.
Lambert,

I have been running usdjpy L4 for the past month, and my trades haven't been stopped out yet on an IBFX demo. WRT the trade you mentioned, L4 opened 2/25 04:43 at 97.18 an closed 2/25 11:13 at 96.57 for $16.77 (0.27 lots). Does your chart not show those prices?

Bioquim
  • #997
  • Mar 7, 2009 5:42pm Mar 7, 2009 5:42pm
Quoting Bioquim
Lambert,

I have been running usdjpy L4 for the past month, and my trades haven't been stopped out yet on an IBFX demo. WRT the trade you mentioned, L4 opened 2/25 04:43 at 97.18 an closed 2/25 11:13 at 96.57 for $16.77 (0.27 lots). Does your chart not show those prices?

Bioquim
Sorry, you are right... 4L did finish.. 3L failed... I didn't realize the 4th level was hit and dropped 60 pips, but sure enough it did.
  • #998
  • Mar 7, 2009 9:35pm Mar 7, 2009 9:35pm
On my 4L, I have the following usdjpy trades
2/23 03:55 buy 92.93 it hit tp at 93.53
the rough one that went the full 4 levels however, my 4th level trade opened on 2/25 04:56 97.15 and hit tp (thankfully) at 96.55
This was the week I had talked about where my DD was very high, but I did not get stopped out on any trades. It was due to the jpy situation and having 4 or so pairs (eurjpy, usdjpy, audjpy, etc) all struggling at the same time.
Yes, my 3L demo did take some losses that day, I believe I tried to throw the recovery ea on some of those pairs but I really don't know what transpired. The trade report I provided that week shows them all, but still made plenty of profit that week anyhow, even on 3L.
One of my reasons for going live with 4L instead of 3L was that I would not screw with the recovery eas. When running 3L i would automatically look to drop the recovery ea on if level 3s were looking bad, so figured might as well just run level 4.
  • #999
  • Mar 8, 2009 7:29am Mar 8, 2009 7:29am
Quoting jthomas71
I use the exact settings and currencies as laid out in Bob's first post....
Jt, Bob ,
I'm trying to understand why you think these higher TP's and step levels are a better way to go. Haven't tested yet so you guys may be right. I'm thinking it will take you longer to get out of trouble. Plus, increasing the range doesn't help if your still going to use a 400-500 pip SL. I'm still wondering whether to even use a SL. One SL hit sets you back about three weeks and that's plenty of time to hit another.
This is how I've been controlling trades that are getting out of hand. These methods may or may not work out in the long run but have done well for six weeks. First, I trade everything on one lower TF than Bob's original instructions. When any pair goes 4 levels, I shut down any other trades that are at ,near or above BE. I also shut down the EA's that aren't trading so no new trades open up. This frees my margin and gives me confidence to ride out the trouble maker. I've been looking back several months at some of the more volitile pairs(GBP/JPY,GBP/USD,EUR/JPY) and they all seem to pull themselves out of trouble on the 4th,5th,or 6th level on the 60/90. Of course the problem will be, when several pairs get into trouble at the same time. Sometimes however, pairs will get into trouble on the same day but a few hours apart so that would give you time to shut down all but one. I still think I'm going to modify my MA and buffer zone with the GBP/JPY though. Just some thoughts and not saying this is the way to go. I'll keep testing this approach and let you know how it's going.
  • #1,000
  • Mar 8, 2009 8:16am Mar 8, 2009 8:16am
Quoting Toothman
Jt, Bob ,...
Toothman,

Look at the majority of your trades. Don't they usually tp at one or two levels? I'm trying to make the 1 level tp as profitable as possible. If I hit my stop at 400, I lose $100 on a dime trade. If I take profit at one level, I make $10. If I hit level 2 i make $20. Now look at a 4 level 60x90:

1st level: $6.00
500 pip stoploss: $1,082 (.10x500+.30x410+.90x320+2.70x230)

I'll take $100 stoplosses over $1000 drawdowns any day. Consider how much bigger your account has to be to handle these drawdowns. Even if you never actually hit your stop, your tying up a larger percentage of cash you could be trading other pairs with, or trading larger lot sizes.
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