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Nanningbob 60x90 EA

  • #1,281
  • Mar 13, 2009 2:57pm Mar 13, 2009 2:57pm
Thanks. Will check it out.
Quoting Toothman
parad, No, it's Bobs trend following EA that buys above the 2MA and sells below the 2MA. It's in the " is this my holy grail ea" thread, several pages in.
  • #1,282
  • Mar 13, 2009 3:52pm Mar 13, 2009 3:52pm
Quoting jthomas71
I'm curious what led you to choose those pairs. I'm surprised that six pairs could create so much action in a month.
Started with spreads under 10, really would like to trade on 3 pairs only.
  • #1,283
  • Mar 13, 2009 4:48pm Mar 13, 2009 4:48pm
Wow 1932.00 in 2 weeks. I cleaned it up some and now get info in the upper left corner of the chart. Very nice.
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  • #1,284
  • Mar 13, 2009 7:03pm Mar 13, 2009 7:03pm
hmm im starting to forsee a few live accounts crash and burn in coming weeks with demo testing going 'too' well...
Grabbing the bull by the horns!
  • #1,285
  • Mar 13, 2009 7:05pm Mar 13, 2009 7:05pm
Quoting qz10cq
Started with spreads under 10, really would like to trade on 3 pairs only.
I'm curious because your style is different than mine. I like to trade a lot of pairs, because I love that trades are always opening and closing. It's just a faster pace, I guess. I'm thinking of opening the ea next week, whichever 5 or 6 open first I will trade those until they close, then add new ones, and so on. I was shocked that with the ridiculous spreads on ibfx how many 100 pip closes I was getting with the eur/nzd. So anyway, why do you like three? I'm guessing you don't want a major currency in more than one pair. Do you have any other reasons?
  • #1,286
  • Mar 13, 2009 7:18pm Mar 13, 2009 7:18pm
Quoting jthomas71
I'm curious because your style is different than mine. I like to trade a lot of pairs, because I love that trades are always opening and closing. It's just a faster pace, I guess. I'm thinking of opening the ea next week, whichever 5 or 6 open first I will trade those until they close, then add new ones, and so on. I was shocked that with the ridiculous spreads on ibfx how many 100 pip closes I was getting with the eur/nzd. So anyway, why do you like three? I'm guessing you don't want a major currency in more than one pair. Do you have any other...
JT, got into basket trading a few months ago and loved it when it was going in my favor and it was like pulling teeth when it went against me. Goal would be 3-4 safer (if there is safer) pairs and increase lot size.
  • #1,287
  • Mar 13, 2009 7:50pm Mar 13, 2009 7:50pm
Quoting Longshot
One note of caution: the FX markets have been rangebound and ideal for this kind of trading in 2009. I've noticed a renewed interest in various Martingale/grid systems on another forum. Unfortunately, I tested several and all either blew accounts or were net losers in 2008.

Can this system survive the huge moves we saw last Fall? I'd look at those conditions as a worst case scenario--along with more stable, steady trends like the EURUSD's upmove from mid-2006 to 2007. Don't expect the future to keep looking like the last few months....
Again to restate on what was posted on the first page. Avoid interest rate changes and the really big news stories. They are the ones that will push price outside of range. Some people discovered this this week when the NZD and CHF did interest rate changes. The simple thing to do is not to trade those days in those currencies. Not trading is a trading strategy, I have never proposed this system as a 24/5 system. You use it with some common sense and you will find it profitable. You trade on a day you shouldnt, well there is a 4-500 pip stop loss and you take a loss that day. You dont blow out your account, you have a losing day. I dont know of any system that doesnt have a losing day. If you think you can trade forex and not take losses you are living in a fantasy world. The truth is there are very few days in the year in which this system will be beat. However, their is one truth I have found always to be true, the market will always retrace. In the retracement you get out and take the small loss or small profit and go on. This is the trading skill you need to learn with the system. Once you get it, you can be profitable in any market.

I do want to point out that there is a difference between my present system and a martingale system, as explained in the first post I am following a commonly used trading method used by professionals. The difference is we dont keep reentering like a martingale system until you run out of money. We go 2-4 levels and then get out and take the loss. If you follow these rules and sound money management (using too big of lots for the amount of funds in the account, this is my biggest trading error) you can see a steady increase in your account.

I am in the eur/chf move of thursday and because I am trading .05 I am 50 bucks in the hole on my live trade account however. I did take a retrace profit for 20 and just set up my second retrace trade. All I need is a 50 pip retracement now and I will get out of that trade with less than a 10 dollar loss. If it goes over 50 and closer to a 100 i actually will end up with a small profit. The reason I can hang onto what is a bad trade, but for many guys is a loss, is patience and understand how to do retrace trading. Once you develop the skill you can take almost any bad trade and get out without damaging your account. So far this week I have fended off the USD/gbp, NZD and almost done with the eur/chf. I am enjoying very much learning this skill.

One last note even if prices take off in strong trends, the market always retraces, that is just a simple fact that trend traders often cannot grasp. Thanks for the comments and good luck trading.
  • #1,288
  • Mar 13, 2009 7:55pm Mar 13, 2009 7:55pm
I made this warning before but I need to remind some of the newer posters. You dont want to be trading the days if GM or Chrylser file bankruptcy. Just stay out and go fishing for a couple of days. If you want to trade go with the trend because its going to be a doozy.
  • #1,289
  • Mar 13, 2009 8:02pm Mar 13, 2009 8:02pm
Quoting Toothman
I've been looking for that kind of information (max. movement in one direction before a given retracement ) for 3-4 months. I do know that Bob's 100/40 EA,trading it on the EUR/USD only, hasn't gone more than 13 levels (520-550 pips) without a 100 pip retrace since Oct. 26th. I've traded $3000 to almost $4600 since that date using 1.5 mult. starting at .02 lots. And for what it's worth, the strategy tester shows these settings survive the early October chaos.

Thanks for keeping up with the 100x40, I have been thinking of revisiting that one and revising the 4H chart trading system using that EA. With what I learned from this I think I can make a couple of adjustments and make that very usable. Using an expanded range and a different cross indicator I think we could make that very successful. Just a thought. You know how much I loved that system but its limited range hurts in these volatile markets.
  • #1,290
  • Mar 13, 2009 11:00pm Mar 13, 2009 11:00pm
i lost about 6% this week. considering it's a worst case scenario that's not bad. i expect to make up that much in the coming week. it all works out...
change the future, not the past
  • #1,291
  • Mar 13, 2009 11:37pm Mar 13, 2009 11:37pm
Quoting nanningbob
Thanks for keeping up with the 100x40, I have been thinking of revisiting that one and revising the 4H chart trading system using that EA. With what I learned from this I think I can make a couple of adjustments and make that very usable. Using an expanded range and a different cross indicator I think we could make that very successful. Just a thought. You know how much I loved that system but its limited range hurts in these volatile markets.
Please keep us informed about this EA.
It should interesting to run both these EAs simultaneously on a pair like GBPJPY. When ranging one EA works and the other takes over when there is trending!, though easier said than done!
"Put all your efforts in becoming effortless"
  • #1,292
  • Edited 1:30am Mar 14, 2009 12:50am | Edited 1:30am
  •  dethl
  • | Joined Mar 2009 | Status: Digital Jack-Of-All-Trades | 36 Posts
For grins I coded up a quick and dirty indicator to show us the immediate pip slope between two bars. I'll give it some testing here when the markets open back up but for the most part we should be able to determine whether or not a huge spike is occurring and at the least alert us to it.

Thankfully I don't have to bother with figuring out time and whatnot as the points are plotted with time.

Anyway, if a huge trend is going on (say, +/- 100 pips) out of your favor, this indicator might help to catch it early and take your trade out for a modest loss rather than stay in and possibly s/l. Also, you could test the current slope to see if you are in the middle of such a trend to prevent any new trades during that time.

EDIT: Red line is the change in high price between 2 bars (shown in pips). Blue is for the low price.

EDIT2: The chart for my slope indicator is indeed off. I have made adjustments already. Silly me, I forgot about the fact that older bars means bigger indices in the High[]/Low[] array.
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  • #1,293
  • Mar 14, 2009 2:44am Mar 14, 2009 2:44am
Quoting dethl
For grins I coded up a quick and dirty indicator to show us the immediate pip slope between two bars. I'll give it some testing here when the markets open back up but for the most part we should be able to determine whether or not a huge spike is occurring and at the least alert us to it.

Thankfully I don't have to bother with figuring out time and whatnot as the points are plotted with time.

Anyway, if a huge trend is going on (say, +/- 100 pips) out of your favor, this indicator might help to catch it early and take your trade out for a modest...
Interesting Idea, an improvement would be a warning device so if a bar goes x amount of pips it would play a warning. Nice concept.
  • #1,294
  • Mar 14, 2009 2:59am Mar 14, 2009 2:59am
Quoting IamTHAT
Please keep us informed about this EA.
It should interesting to run both these EAs simultaneously on a pair like GBPJPY. When ranging one EA works and the other takes over when there is trending!, though easier said than done!
Coding two eas to work together sounds like a nightmare assingment to me. In once sense I am doing something like that in my testing now. I use a two level system but when price gets away I go to a much wider system. So lets say you use 1 EA for the first 2 or 3 levels. You then use another above that that is much wider and uses a lower multiplication. so lets say you start with a 3x multiplication for the 1st two levels you then go to a 2x for third on up and a wider spread. So it looks like this 90, 180 levels would be 3x and go .05 then .15 then the third and fourth levels could go 150 at 2x with a 100 TP and enters at 330 .20 and 480 at .40 which would put you 570 pips from your median and 1140 range EA. The second EA could work on a separate magic number if you wanted to and take several bounces from this higher level. If you went 200 x 150 on the second EA you then would have a range of 360 and 580 giving it a range of 670 pips from median and 1340 total for the two EAs. This would help cover the volatile currencies and the Eur/chf move would be a piece of cake for it to handle but you would still get the close in trades when price is just bouncing around. Also you wouldnt be deep into the trade only going .40 a pip until the 480 or 580 mark in which it would double to .80 to get you out. I have been manually doing this with the EUR/CHF trade on Thursday and it seems to be working out real well for me. Also, we could then play the gaps over the weekend because we would turn on the second EA after the gaps and play them with higher numbers. A delicious thought. Also, big news stories can be covered once they have worn themselves out. We turn on the seconed EA and cover our butts but we are not deeply financially in trouble. So in summary the first two levels we play tighter and after that we open it up wide and protect our account without getting too deep into the hole. Let me know if you understand this and it sounds reasonable to you.
  • #1,295
  • Mar 14, 2009 5:48am Mar 14, 2009 5:48am
Quoting 137
i lost about 6% this week. considering it's a worst case scenario that's not bad. i expect to make up that much in the coming week. it all works out...
The 100x200 2 level 400 stoploss lost $200 in trades with $100 dd in open trades on a $1500 account. I stopped out on a lot of one level trades by turning off the ea and trying to get out before the weekend (i adjusted their sl's to 200 figuring I would close them by 4 pm anyway). SL'd on 5 level one trades (about $100) and 6 level 2's (about $600.) Amazing to me that I didn't lose more money. The level 2 sl's were inevitable with my settings, but I think the $100 on level 1 I lost trying to get out by Friday at 4 might not be any worse than weekend gappage, but hey I'm just a rookie.

I'm on the fence about extending the range to 600, with the occasional rare 3 level kicking in 400 pips from center. But then there are bigger drawdown issues and I must reduce lot size or trade fewer pairs. I would manually alter the three level to tp at 70-75 pips rather than 100, which would close the trade as quickly as possible at breakeven.

I had 37 winners this week, mostly one level, so I believe the 100 retracement concept is sound. Having a larger stoploss, an extra level, and letting the trades run over the weekend I think I would have done very well. To all of you who have warned me about weekend gaps, I'm just going to let some trades ride over the weekends and see for myself. I'll let you know how it goes.

Oops, I just saw Bob's post above mine covering a lot of these issues. As usual he's several steps ahead of me and the rest of us. I was going to be manually entering changes on the higher levels but if a second ea can handle that than better for all of us.
  • #1,296
  • Mar 14, 2009 6:07am Mar 14, 2009 6:07am
137 called last week a worst case scenario. How would you all rate it on a scale of 1 to 4?

1:woo hoo, I'm rich
2:not bad, I'm going out for a good dinner
3: oh well, better luck next time
4: staring at the screen with a pit in your stomach

Surely it gets much worse than this, right?
  • #1,297
  • Mar 14, 2009 6:20am Mar 14, 2009 6:20am
Quoting nanningbob
Interesting Idea, an improvement would be a warning device so if a bar goes x amount of pips it would play a warning. Nice concept.
Been thinking about your EA NB, if you set your levels to give a steady profit of 60 at all levels your lots would be .1, 1.5, and 3.75 instead of .1, .3, .9, which of course would be less profit but the death trade wouldn't break your account. I've had 57 sequence wins (60 X 90) and no losses on 3L (no recovery) in last 3 weeks only using 6 pairs.

If the EA always opened a hedge trade on the 2nd level you would either win that trade (+60) or loss that one and win the first trade and be in the hedge trade looking for another hedge at the 2nd level again. Of my 57 sequence wins 36 were on the first level, thats one of the reasons I suggest the lot size change, a first level win for either lot sizing is still +60. Just some thoughts, my gray matter is probably overworked.
  • #1,298
  • Mar 14, 2009 6:33am Mar 14, 2009 6:33am
Quoting nanningbob
So in summary the first two levels we play tighter and after that we open it up wide and protect our account without getting too deep into the hole. Let me know if you understand this and it sounds reasonable to you.
That is something I have in mind. But this cannot be handled by small accounts unfortunately. I like to play with small live accounts($250) instead of demo. One more feature we can think of is to increase the step size with succeessve steps (with correspondong lotsize).

I just want to focus on single most volatile pair like GBPJPY and try to contain it with two EAs running on different charts at the same time. When it ranging, one EA should work and the other EA (trend following) should take over when the price get out of range.
I have seen GBPJPY produce stupendous results when it within a range due to its large retrace.
I have not looked into your 100x40 EA yet. Does it open position along the trend? Anyway, I will read that thread again.
I want you to look into this EA which is similar to your old EA (opens buy and sell immediately) which also has the feature of all TP's changing to top level TP which is very useful in bouncing pairs or when thre is sudden interruption to trading and the EA cannot close orders at the same time. If someone can adapt this feature to present EA, it should be good. Someone was asking for it, few posts back.
It also has few other nice features like hedging after top level, and many MM features.
Attached File(s)
File Type: mq4 Bless.FifthE.TK.2.0.1-EA.mq4   20 KB | 392 downloads
"Put all your efforts in becoming effortless"
  • #1,299
  • Mar 14, 2009 7:16am Mar 14, 2009 7:16am
Quoting ThePipmaster
I fixed the problem with the EA that i posted earlier....it was using the bid for the sell and the ask for the buy...I also added the trailing stop feature to this EA....I got killed on the chf yesterday...didnt get stopped out but the price moved so fast that by the time the ea took the trades it was such a large gap that i ended up in a loss of about 25 dollars....my audnzd is still down about 60 dollars....depating weather to take a loss or ride it out....so many decisions
Pipmaster,
If Trailing stop is set to 0 in your code, this feature will not engage. Am I correct? I want to use your latest version but without the trailing stop feature. Thanks
  • #1,300
  • Edited 7:49am Mar 14, 2009 7:23am | Edited 7:49am
I see sell orders opening up pretty much on the entry line but buy orders are entering above the entry line by the distance of the spread. How would I adjust the code to get buy orders to open right on the line. Would I change the line in the code that reads if(Bid<Var3 to read if(Ask< Var3? Thank you
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