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Trading aud/nzd successfully

  • #1,601
  • Mar 11, 2009 6:21pm Mar 11, 2009 6:21pm
Quoting drtrader
does anyone have this problem with the EA? AUDNZD dropped this morning and the EA only open a buy at first level only. It never open subsequent trades at 20 pips interval. No error or register of any trades in the experts/journal section.

I am using 30x20 1H 40MA version

Thanks for your help.
If price is dropping rapidly and the broker cant find a buyer/seller price keeps moving until it does. That is trading. I mentioned two days ago a big news story was happening today so be careful. They had interest rate news and the market can go crazy. WATCH YOUR NEWS STORIES AND KNOW WHAT IS GOING ON.
  • #1,602
  • Edited 6:37pm Mar 11, 2009 6:24pm | Edited 6:37pm
Quoting M4X
was this on USDSGD?

sorry if I was not clear by my first posting....
No, this is the aud/nzd.
  • #1,603
  • Mar 11, 2009 6:44pm Mar 11, 2009 6:44pm
wow. no need to cyber yell. I did read your thread(s). And the chart I posted is the AUD/NZD. And this is the EA downloaded "Please see page 50 post #736 for a major revision of this system. This is based on a 1H Chart."
This EA was initiated about 30 mins before that spike so it had just been turned on. "Indicators"? This is a quote straight from you on post #736
"White line 40 MA, green lines 80 pips above and below the 40 MA. The EA will not trade between the two green lines. The green line above the 40 MA will enter your first level sell. The green line below the 40 MA will be first level buy."
O_o

Quoting nanningbob
AGAIN FOLKS PLEASE LISTEN UP, THIS IS THE AUD/NZD THREAD THE EA IS ALWAYS IN THE TRADE IT IS NOT BASED ON INDICATORS. GO BACK TO PAGE 1 AND READ THE INSTRUCTIONS ON HOW THIS EA WORKS.
"Your big opportunity may be right where you are now." Napoleon Hill
  • #1,604
  • Mar 11, 2009 6:50pm Mar 11, 2009 6:50pm
Quoting TheHefner
wow. no need to cyber yell. I did read your thread(s). And the chart I posted is the AUD/NZD. And this is the EA downloaded "Please see page 50 post #736 for a major revision of this system. This is based on a 1H Chart."
This EA was initiated about 30 mins before that spike so it had just been turned on. "Indicators"? This is a quote straight from you on post #736
[color=royalblue]"White line 40 MA, green lines 80 pips above and below the 40 MA. The EA will not trade between the two green...

The reason this happen is because the EA you downloaded uses the BID price for both buys as well as sells to determine it's entries. When the news hit the spread was widen to a large amount so while the BID price was at the first MA entry the ASK price (the price you pay to get in) was much higher, thus giving you your entry.
  • #1,605
  • Mar 11, 2009 11:31pm Mar 11, 2009 11:31pm
let the chart speaks
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd.gif Size: 17 KB
  • #1,606
  • Mar 12, 2009 3:11am Mar 12, 2009 3:11am
Dear Guys,

How do you deal with the wide AUDNZD spread? Just suck it up and move on? Or, could you simply trade AUDJPY/NZDJPY as an alternative to AUDNZD with much less spread?

Lenoxer
  • #1,607
  • Mar 12, 2009 3:39am Mar 12, 2009 3:39am
Quoting Lenoxer
Dear Guys,

How do you deal with the wide AUDNZD spread? Just suck it up and move on? Or, could you simply trade AUDJPY/NZDJPY as an alternative to AUDNZD with much less spread?

Lenoxer
The system still works but is no where as profitable as it was. So you have higher risk than before and it takes longer to get profit but it still has been working. Others have suggested using the USD with the aud and nzd but the problem is you are no longer trading aud/nzd you have entered a third currency and whatever effects that third currency is thrown into the equation. In other words you dont get the bounce up and down like you do, they will go on strong trends which defeats this system. In other words it is the stagnation of these two currencies against each other that makes it work. So even though at times we get 30-50 pip spreads I can still get my 20-30 pip TP just not as many. I am sure the brokers love getting more in spread than I do in profit but that is the game.
  • #1,608
  • Mar 12, 2009 11:23am Mar 12, 2009 11:23am
OK,OK. That's enough now. What do we have here? Another OCtober surprise?
I'm doing Ok but it takes serious interventions.
  • #1,609
  • Mar 12, 2009 11:38am Mar 12, 2009 11:38am
Quoting Tradster
OK,OK. That's enough now. What do we have here? Another OCtober surprise?
I'm doing Ok but it takes serious interventions.
No October surprise, interest rate change. We will sooner or later learn to respect these things and stay out of the market when they happen. I ran my 20x50 demo on it today and it got killed so much better to just stay out. wait until tomorrow after the dust settles and trade again. The CHF went nuts today on its interest rate change. This is the same stuff that happened in OCT. but the changes are smaller.
  • #1,610
  • Mar 12, 2009 11:51am Mar 12, 2009 11:51am
Yeah, I got a stoploss hit on my 1 hour Aud/Nzd. It happens.. it is kind of sad actually because right before news I was like... should i shut down? Well.. I know I should, but we haven't had a lot of trades lately... in other words GREED. ahahah.
  • #1,611
  • Mar 12, 2009 12:33pm Mar 12, 2009 12:33pm
I'd wait for the market to settle down a little bit before going in again.
Has not even pulled back to the Median yet.
  • #1,612
  • Mar 12, 2009 4:56pm Mar 12, 2009 4:56pm
Quoting Tjpld
I'd wait for the market to settle down a little bit before going in again.
Has not even pulled back to the Median yet.

Hello Tjpld,

How has your demo account with the risky settings fared?
  • #1,613
  • Mar 12, 2009 6:54pm Mar 12, 2009 6:54pm
It was odd because the EA only opened 2 Levels instead of 4. I noticed that before a few times. (Usually you wan't even more Levels than that to get better coverage). They got hit but did not result in my expected 60% DD. Still over 14k but I have to find out why it did not trade the way it should. Settings are ok so far. I'm trying out the 30x20 buy sell EA 1H 40 MA which should trade the same way as my old one. Don't know where the difference is. I have had more than 2 levels deep before with that demo.
  • #1,614
  • Mar 12, 2009 7:02pm Mar 12, 2009 7:02pm
Quoting Tjpld
It was odd because the EA only opened 2 Levels instead of 4. I noticed that before a few times. (Usually you wan't even more Levels than that to get better coverage). They got hit but did not result in my expected 60% DD. Still over 14k but I have to find out why it did not trade the way it should. Settings are ok so far. I'm trying out the 30x20 buy sell EA 1H 40 MA which should trade the same way as my old one. Don't know where the difference is. I have had more than 2 levels deep before with that demo.
It could be possible that you are maxed lots out. You can only trade a max 50 lots... it is possible with so much risk you need more than 50 lots?
  • #1,615
  • Mar 12, 2009 7:43pm Mar 12, 2009 7:43pm
Quoting nanningbob
The CHF went nuts today on its interest rate change. This is the same stuff that happened in OCT. but the changes are smaller.
The big move is cause by chf central bank manipulating their currency against the euro. I don't think is the interest rate change becoz the change was expected change. How can expected change make such a big move ? Moreover, the change was only 0.25%.
  • #1,616
  • Mar 12, 2009 7:48pm Mar 12, 2009 7:48pm
Quoting forexisfx
The big move is cause by chf central bank manipulating their currency against the euro. I don't think is the interest rate change becoz the change was expected change. How can expected change make such a big move ? Moreover, the change was only 0.25%.
The change for the NZD was expected as well and we saw a monster move there.
  • #1,617
  • Mar 12, 2009 11:09pm Mar 12, 2009 11:09pm
Quoting Verto
The change for the NZD was expected as well and we saw a monster move there.
IMO, the NZD was sort of unexpected becoz AUD interest rate didn't change rate and people will think that NZD will do the same. Previously, it was expected both AUD NZD will lower rate. Since AUD unexpectedly didn't change rate, NZD should have last mintue expectation of not changing rate. And it's not really monster move compare to Oct for AUDNZD.

If u compare eurchf move with it's Oct move, that is call monster. The move on eurchf is a whole lot crazy then on Oct simply becoz the intervention by the chf central bank and not some expected interest rate change. I think this is the first time eurchf done this kind of move. If u switch to 4H chart on EURCHF, u will know what i mean. Interest rate change doesn't have the power to do that.
  • #1,618
  • Mar 13, 2009 4:14am Mar 13, 2009 4:14am
Quoting Verto
It could be possible that you are maxed lots out. You can only trade a max 50 lots... it is possible with so much risk you need more than 50 lots?
That is probably it. I knew you could trade 50 lots max but since I'm trading minis I thought it would be 500 Mini Lots -> 50 Standard Lots.

I have flicked through the calender and wrote down some dates which could
get nasty aswell. It would be wise to turn the EA of or at least lower your lot size to a tenth. After the dust has settled I will go in again there seems to be some weeks with no High or even medium Impact News for AUD or NZD at all.
  • #1,619
  • Mar 13, 2009 2:43pm Mar 13, 2009 2:43pm
Quoting Tjpld
That is probably it. I knew you could trade 50 lots max but since I'm trading minis I thought it would be 500 Mini Lots -> 50 Standard Lots.

I have flicked through the calender and wrote down some dates which could
get nasty aswell. It would be wise to turn the EA of or at least lower your lot size to a tenth. After the dust has settled I will go in again there seems to be some weeks with no High or even medium Impact News for AUD or NZD at all.
It is still only 50. That is just the way that metatrader is designed to have a fixed "50" max lot click with one trade. Yeah.. it really doesn't hurt to turn off the EA on those days if you think about it. For me.. I average about 50-70 dollars are a good day... if I hit stoploss that is about 400$ so you figure there isn't really any harm turning it off. It is all about getting greedy. In my case I wasn't having a 'very' profitable month with last week only getting me about 150 then this week was already up about 70$ before the interest rate news... instead I ended up hitting stoploss and then had a decent day today as well ending the week -110$ so I guess for the month I am still in the plus. I must say I've learned my lesson though.. at a small cost, actually.
  • #1,620
  • Mar 13, 2009 9:07pm Mar 13, 2009 9:07pm
Quoting forexisfx
The big move is cause by chf central bank manipulating their currency against the euro. I don't think is the interest rate change becoz the change was expected change. How can expected change make such a big move ? Moreover, the change was only 0.25%.
I agree there was more there than the interest rate change but still knowing the interest rate was changing should have kept us out of the market. If they would have done a .50 change the market would have gone nuts too so I am staying away from these interest rate announcements. They move the markets too much and other news stories mix with them.
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