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Nanningbob 60x90 EA

  • #1,241
  • Mar 12, 2009 6:55pm Mar 12, 2009 6:55pm
Quoting dethl
The Swiss really threw a monkey wrench into the mix today.

Nanningbob - is there any way we might be able to protect against something like this?
I am very wary of interest rate changes. They always seem to move the market. When doubled up with a news story you get a double whammy. You also had Trichet speaking and suddenly you get a perfect storm. The problem is I dont know if you can predict record days usually a quarter point rate cut is not that big of a deal but with every thing else added WHAMO AND you got it. It is why I designed only 3 levels and then I decide whether to add a fourth. I am testing a 100x150 with 2 levels and then I can choose to add a 3rd or 4th level in cases like this. I let the one or two levels run deep and then I added the third when the fireworks are over. If I get a retracement today during the JPY session then I survived these moves. I put my third levels on late in the USA session hoping to get retracements now back to small profit or small losses and save the day. If this works it will be the first time I survived a record move without getting killed with an account wipeout or really bad loss. I am trading nickels on a 400 dollar account and this is the test I have been looking for. Can I survive a major news story or 5-700 pip market move. I will let you know.
  • #1,242
  • Mar 12, 2009 7:06pm Mar 12, 2009 7:06pm
Quoting jthomas71
What the difference between a Friday trade closing on a Monday and a Tuesday trade closing on a Friday?...

Weekend gapping can be 50-500 pips depending on the weekend news. If you are relying on 90 pip reentries this messes up the matrix. Currencies also will often strongly trend in one direction on Fridays putting your account into a deep DD and then hit a weekend gap against you and your sitting on a huge loss. Plus if the following week continues the trend and you have what I call the death trade. When I studied martingale strategy and why it failed, this was the #1 cause of the death trade. Weekend gapping would send the EA out of TP range and you would never get back to your TP. I mean you can go ahead and trade weekends if you want but in a multi level reentry system. The first time you get the strong Friday trend coupled with a weekend gap wipeout you will understand why you dont do this with a multi reentry level system. I gave this rule through losing hundreds of dollars getting whacked, thats why. In return the number of trades I would end up winning never made up for the losses I got from weekend gapping.

Remember when banks do their weekend processing they will move their orders first before they do your brokers so they make sure they get the best of what happens. Just the way it is.
  • #1,243
  • Mar 12, 2009 7:30pm Mar 12, 2009 7:30pm
OK daddy here is something i think would be a great addition to this EA.

i think it would great if there was a partial off button. one that would finish all the trades and even additional levels but would not start a new string of trades. it would be a great cool down for Fridays. and you could activate it a day before news.

basically it would be cool if it could clean up the trades before we need to close out

it would be a fun one daddy
the markets moving, time to get in!
  • #1,244
  • Mar 12, 2009 9:13pm Mar 12, 2009 9:13pm
Quoting dmjservices
OK daddy here is something i think would be a great addition to this EA.

i think it would great if there was a partial off button. one that would finish all the trades and even additional levels but would not start a new string of trades. it would be a great cool down for Fridays. and you could activate it a day before news.

basically it would be cool if it could clean up the trades before we need to close out

it would be a fun one daddy
Nobody answered my question today: How do you protect active trades without executing new ones? maybe if you set all trading sessions to false in the ea. I ended up rewriting all the sls and tps for each pair on the board so they would close at the same time without the ea on. I sure would like to know an easier method.
  • #1,245
  • Mar 12, 2009 11:38pm Mar 12, 2009 11:38pm
Quoting jthomas71
Nobody answered my question today: How do you protect active trades without executing new ones? maybe if you set all trading sessions to false in the ea. I ended up rewriting all the sls and tps for each pair on the board so they would close at the same time without the ea on. I sure would like to know an easier method.
the new trades are your protection.

and no you can not set the trading to false. because if you need a new level it will not give that to you.

i was saying i think it would be a good deal if you could set it up so it did not start new strings of trades
the markets moving, time to get in!
  • #1,246
  • Mar 12, 2009 11:46pm Mar 12, 2009 11:46pm
Quoting jthomas71
Nobody answered my question today: How do you protect active trades without executing new ones? maybe if you set all trading sessions to false in the ea. I ended up rewriting all the sls and tps for each pair on the board so they would close at the same time without the ea on. I sure would like to know an easier method.
This feature of changing TP of all levels to top level Tp is available in another similar EA by name Bless ..Let me see whether we can incorporate that potion into this EA. That is a very helpful feature especially in jumping pairs like audnzd..
"Put all your efforts in becoming effortless"
  • #1,247
  • Mar 13, 2009 12:17am Mar 13, 2009 12:17am
ok daddy how would it work in this method
the markets moving, time to get in!
  • #1,248
  • Mar 13, 2009 12:18am Mar 13, 2009 12:18am
Opened account on 2-18, 3000 demo using 3L (no recovery) and defaults except for .1 lots. Couple of death trades still ongoing but have done nothing manually. If I closed all now I would be 100% on account. This EA is working fine right out of the box. Don't over-think yourselves guys. If these death trades recover I'll be 300% on this account. Can't ask for much better. All systems will lose sometime, just make more than you lose.
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  • #1,249
  • Mar 13, 2009 1:11am Mar 13, 2009 1:11am
I have been following this thread on and off since it started. But the more it goes the more confuse i am. I just wonder whether nanningbob or anyone else is kind enough to provide me some useful information?
  • #1,250
  • Mar 13, 2009 1:27am Mar 13, 2009 1:27am
Quoting stan88
I have been following this thread on and off since it started. But the more it goes the more confuse i am. I just wonder whether nanningbob or anyone else is kind enough to provide me some useful information?


It is really quite simple. Just download the system in the first post. All instructions are included. The system is completely automatic.
  • #1,251
  • Mar 13, 2009 4:06am Mar 13, 2009 4:06am
Ouch is all I can say. Now both accounts are getting killed. Thank God I did not go live this week.
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  • #1,252
  • Mar 13, 2009 5:14am Mar 13, 2009 5:14am
Quoting qz10cq
Opened account on 2-18, 3000 demo using 3L (no recovery) and defaults except for .1 lots. Couple of death trades still ongoing but have done nothing manually. If I closed all now I would be 100% on account. This EA is working fine right out of the box. Don't over-think yourselves guys. If these death trades recover I'll be 300% on this account. Can't ask for much better. All systems will lose sometime, just make more than you lose.
qz10CQ,

The pairs/TF's in your screen pic are all that you trade? Also, the time you turn on and how/when you go about turning off EA's? Thanks!

Also, JThomas, how's your modified approach working?
  • #1,253
  • Mar 13, 2009 6:10am Mar 13, 2009 6:10am
Quoting dmjservices
the new trades are your protection.

and no you can not set the trading to false. because if you need a new level it will not give that to you.

i was saying i think it would be a good deal if you could set it up so it did not start new strings of trades

The way I'm trading 100x200, I figure the first level whether stopped or tp'd will break even the account in the long run. The majority of trades close at the first level and the sl is only 2 times the size of the tp. The second level is my profit maker and my first level trades are a cushion against trends, stops, and Friday drawdowns. So say a Wednesday after US closes I can turn my ea off and let my 1 levels tp or stop out for the rest of the week. The same with my 2 levels, except I have to manually modify the tp on the first level and the sl on the second level. This gives you two full days (or six sessions) to let your trades close before Friday at 4 pm est. Do you really want to start entering into extra levels at the end of the week? Sounds risky if you intend to close all on Friday afternoon. Wouldn't you love to turn off the mt4 on Friday afternoon with no trades remaining?

I'm very receptive to constructive criticism so if anyone thinks this sounds stupid let me know. If it weren't for weekend gaps we would have these various systems licked by now. By the way, thank you to everyone who explained to me why weekend gaps ruin the system. I needed a good push to abandon the idea of taking the risk.
  • #1,254
  • Mar 13, 2009 6:29am Mar 13, 2009 6:29am
Quoting Qui-Gon
qz10CQ,

The pairs/TF's in your screen pic are all that you trade? Also, the time you turn on and how/when you go about turning off EA's? Thanks!

Also, JThomas, how's your modified approach working?
The 2 level 100x200 is struggling this week, and here's why. It's always closing trades but there's always drawdown on the board, and the ratio of profit to open trades in drawdown negates your profit. For example, I've had 39 tp's this week, most 1 level but some 2 level. It's about $600. However I also had 5 2level sl's, which is about $500 lost. So where's my hundred dollars? It's sitting on the board in open trades that will have to be closed this afternoon. So my next step is figuring out the best time of the week to stop executing new trades. I'm thinking after Wednesday's US session, which leaves me 6 trading sessions for my open trades to either close or stop out. You trade for three days and have two days to close them.

I'm confident in the system, but it needs a tweak here and there.
  • #1,255
  • Mar 13, 2009 6:46am Mar 13, 2009 6:46am
Quoting qz10cq
Opened account on 2-18, 3000 demo using 3L (no recovery) and defaults except for .1 lots. Couple of death trades still ongoing but have done nothing manually. If I closed all now I would be 100% on account. This EA is working fine right out of the box. Don't over-think yourselves guys. If these death trades recover I'll be 300% on this account. Can't ask for much better. All systems will lose sometime, just make more than you lose.
When do you turn off the ea? Do you "let it ride" over the weekend? I'm assuming you use all 23 pairs. Is that right? I also would like to know how many sl's you've had (500 pip drawdown).
  • #1,256
  • Mar 13, 2009 7:55am Mar 13, 2009 7:55am
Anyone thought about reversing the system from trend fading to trend following for Pairs that obviously like to trend? Instead of Opening the
first Sell Order 80 Pips above the Median we build up levels once
its moving towards the median from above.
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  • #1,257
  • Mar 13, 2009 7:59am Mar 13, 2009 7:59am
I 've been running demo on 3k with .01 with the 4l ea and its only hit sl once in a total of 156 trades. Profit trades total 98(62.82%) and loss trades 58(37.18%). All default settings by the way.

I would say this is highly impressive in this chaos. I did close my gbp/usd trades on monday for a loss - the ea would of traded me out the hole if I had stayed in and result would be much better.

I am going to run the ea on 3l next week; should be less sweat..
  • #1,258
  • Edited 9:40am Mar 13, 2009 8:20am | Edited 9:40am
My opinion on this is that if you're going to use a counter trend system, you'd be driving yourself crazy going with the trend. When would you do it? Would you go with the trend when it's 80 above, 90 above? 130 above or ? How would you know it's going to keep trending? If so, for how long? For 10 more pips? 20, 60, 100? Isn't that why you get in at some extreme in the first place? Because you think the pair is over extended, and should reverse?
Quoting Tjpld
Anyone thought about reversing the system from trend fading to trend following for Pairs that obviously like to trend? Instead of Opening the
first Sell Order 80 Pips above the Median we build up levels once
its moving towards the median from above.
  • #1,259
  • Mar 13, 2009 8:35am Mar 13, 2009 8:35am
Quoting Qui-Gon
qz10CQ,

The pairs/TF's in your screen pic are all that you trade? Also, the time you turn on and how/when you go about turning off EA's? Thanks!

Also, JThomas, how's your modified approach working?
Yeah the only pairs I'm trading are on the screen, and I'm not turning the ea off ever. I go right thru the weekend...
  • #1,260
  • Mar 13, 2009 8:36am Mar 13, 2009 8:36am
as i said earlier this ea is highly impressive. Nanningbob has done a great job. Can others tell us what results they are getting?
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