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Nanningbob 60x90 EA

  • #1,401
  • Mar 18, 2009 4:43am Mar 18, 2009 4:43am
Quoting imalisebenza
oil & wti is only 5 pip spread with ODL; silver, gold & gso are very expensive. also ODL only offer 100:1 & 0.25.

There are other brokers who offer these symbols with the forex pairs; I think I will try forexmetal and see if it will work...
yeh gomarkets have them, ill have a look perhaps to see if any of them range well...
Grabbing the bull by the horns!
  • #1,402
  • Mar 18, 2009 4:53am Mar 18, 2009 4:53am
Oil is terrible for this system. Oil can make huge trends at any time.
  • #1,403
  • Mar 18, 2009 5:00am Mar 18, 2009 5:00am
Quoting whitegoodman
yeh gomarkets have them, ill have a look perhaps to see if any of them range well...
Hey whitegoodman - maybe you can help I tried to open an account with Gomarkets and on the form under financial information they have a field that says BSB. Do you have any idea what this means?

using nanningbobs ea with CFD's would be dead loss I reckon because of the spread but oil and wti range very nice; often tracking each other
  • #1,404
  • Mar 18, 2009 5:21am Mar 18, 2009 5:21am
Quoting llambert3
Yea stupid eurchf finally hit my stop as well, despite all the "preventative" methods I was trying. So you see, you can never count anything out with forex.

So, maybe another thing to do is whenever there is a govt intervention announced, if the stop hasn't been hit, just take the loss if you are around and see it. Well especially these days.
I'm curious, were you using the 500 stoploss? And was 60 your retrace?
  • #1,405
  • Mar 18, 2009 5:34am Mar 18, 2009 5:34am
Quoting imalisebenza
Hey whitegoodman - maybe you can help I tried to open an account with Gomarkets and on the form under financial information they have a field that says BSB. Do you have any idea what this means?

using nanningbobs ea with CFD's would be dead loss I reckon because of the spread but oil and wti range very nice; often tracking each other
i dont know if you have these overseas but in Australian bank accounts you have an account number and a BSB number... bsb number is to sort of identify what bank it is
Grabbing the bull by the horns!
  • #1,406
  • Mar 18, 2009 5:39am Mar 18, 2009 5:39am
Quoting charvo
In fact, contrary to what ppl think about the "Multiply Factor", the bigger number we use, the safer we'll be.

For example, if we X 2 for every another level, we'll lose after 4th level TP reach.

if we X 3 as we do right now, we'll get a profit when 4th level's 60 pips reached.

if we X 4, we'll get much more profit.

if we X 5, we'll get much much much more profit.

please don't declare that this is stupid and dangerous/risky.

why? becoz it is all easy calculation, use ur excel,...
I'm liking 2.5 multiplier right now, because i can make a profit on 3 levels while reducing drawdown. I think your system is brilliant if you could have 5-10 levels covering over a 1,000 pip range. At what point does account size then have to be so high it reduces rate of return to be not worth the risk? How many pairs would you trade at a time?
  • #1,407
  • Mar 18, 2009 5:44am Mar 18, 2009 5:44am
Quoting whitegoodman
i dont know if you have these overseas but in Australian bank accounts you have an account number and a BSB number... bsb number is to sort of identify what bank it is
thanks whitegoodman - we dont use this BSB so I will contact them in the morning
  • #1,408
  • Mar 18, 2009 6:32am Mar 18, 2009 6:32am
Quoting charvo
In fact, contrary to what ppl think about the "Multiply Factor", the bigger number we use, the safer we'll be.

For example, if we X 2 for every another level, we'll lose after 4th level TP reach.

if we X 3 as we do right now, we'll get a profit when 4th level's 60 pips reached.

if we X 4, we'll get much more profit.

if we X 5, we'll get much much much more profit.

please don't declare that this is stupid and dangerous/risky.

why? becoz it is all easy calculation, use ur excel,...
Great understanding of the numbers. I have usually taken the middle road but I have tried both types of multiplication. If you multiply 1.5 you can go bigger with your original lot size or smaller lots and use more levels. If you use bigger multiplication you can use fewer levels but they are farther apart and have a bigger range. I use my 7 year currency range and play with the numbers. I really need to update that thing and post it again.
  • #1,409
  • Mar 18, 2009 6:38am Mar 18, 2009 6:38am
just had a look at a few commodity charts... sugar looks ideal...
Grabbing the bull by the horns!
  • #1,410
  • Mar 18, 2009 6:53am Mar 18, 2009 6:53am
Quoting jthomas71
I'm curious, were you using the 500 stoploss? And was 60 your retrace?
My eurchf waited 130 from center with 500 pip stop and 60 retrace. I think both me and paradoxical determined this worked. Going 5L would've worked with a 600 pip stop. I mean I guess all currencies will have their "never done that before" moment. During October of last year 500 pip worked. Govt. intervention 500 did not. Using 3L and 4L and 600 stop still hasn't worked, but 600 stop and 5L would've.

On another note, I am still in audnzd 2L using my numbers and now in 1L of eurgbp.
  • #1,411
  • Mar 18, 2009 7:38am Mar 18, 2009 7:38am
I am now closed in profit on AUDNZD and AUDCHF after last weeks DD on these two pairs. Now waiting for NZDCHF to close in profit and I am out of the woods.

Note: None of the three pairs hit the 500 pip SL and this is due to a big gap on where the EA opened the 3rd level.

TimeFreedom

Quoting TimeFreedom
Today I experienced 12% DD, but not stopped out yet. AUDCHF, AUDNZD, and NZDCHF are my problem, level 4, pairs.

Note: I didn't close down open trades on Friday. Testing the strats. strength and weaknesses.

TimeFreedom
  • #1,412
  • Mar 18, 2009 7:56am Mar 18, 2009 7:56am
by the way, when multiply factor is = or < than 2, with Bob's default setting, there is no profit when 4th level TP reached. I think that your 5min TF is a key to avoid the risk. However, lower multiply number may not be profitable.

Please note another fact that you don't have to start with 0.02 lot, or 0.1 lot at first level. If no sufficient capital, just remove chf pairs. and use multiply factor X4 or X5, still starting from 0.01. that's way better than starting from 0.02 lot at 1st level but X3.

Quoting qz10cq
Yeah charvo I did mean .1, .15, .375, been thinking about those fib levels also. Will be testing the multiplier in the ea, maybe making it 1.5 (?) instad of the 3.0 (default) to see if I could get close to that steady +60 no matter what level wins. All my death trades have pulled themselves back to profit so far just using the 3L 60x90 everything default except lots (.1).
  • #1,413
  • Edited 8:15am Mar 18, 2009 7:58am | Edited 8:15am
Just got my first death trade on eur/jpy for a -4600 pips, still well over 2500 pips up sence 2-18-09. This is fine just don't need 2 death trades in the month. Still testing will be elimanating eur/jpy so I'm down to 5 pairs I'm trading. This is default everything 3L 60 x 90 (no recovery) using .1 lots. So all of the death trades are closed when the first level hits -500. I now understand this EA better and like it more.
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  • #1,414
  • Mar 18, 2009 8:00am Mar 18, 2009 8:00am
Quoting jthomas71
I'm liking 2.5 multiplier right now, because i can make a profit on 3 levels while reducing drawdown. I think your system is brilliant if you could have 5-10 levels covering over a 1,000 pip range. At what point does account size then have to be so high it reduces rate of return to be not worth the risk? How many pairs would you trade at a time?
right now i'm not sure how many pairs to trade is safe. for my 2000$, i think that 10 pairs or so (most at 5min/15min), and X4. might be ok.

in fact, i should've use X 5 with 0.01 start at IBFX. but i'm timid somehow.

believe it or not, if you use X 2 but 1200 SL for 120 pips interval at 10 levels, GBPUSD is profitable last year, although, each trade after 4 or 5th level will be a loser.
  • #1,415
  • Mar 18, 2009 8:06am Mar 18, 2009 8:06am
Quoting nanningbob
Great understanding of the numbers. I have usually taken the middle road but I have tried both types of multiplication. If you multiply 1.5 you can go bigger with your original lot size or smaller lots and use more levels. If you use bigger multiplication you can use fewer levels but they are farther apart and have a bigger range. I use my 7 year currency range and play with the numbers. I really need to update that thing and post it again.
Thanks, and we are waiting to see your updated "thing", hoho.

I seem to find that raising the multiply factor can increase win/loss size ratio than raising the starting lotsize.

if we use X 1.5, when death trade comes (or even TP), the potential profit vs potential drawdown is terrible; lower than 0.1, meaning, u risk 10$ to win 1$.

if we use X4, ok, if we have a death trade, we cry, but don't worry, we need only five 4th level profitable trades to cover this death trade. That's doable, and potential profit vs potential drawdown is better, like 0.25 sth. you risk 10$ to win 2.5$.
  • #1,416
  • Mar 18, 2009 9:12am Mar 18, 2009 9:12am
Quoting charvo
Thanks, and we are waiting to see your updated "thing", hoho.

I seem to find that raising the multiply factor can increase win/loss size ratio than raising the starting lotsize.

if we use X 1.5, when death trade comes (or even TP), the potential profit vs potential drawdown is terrible; lower than 0.1, meaning, u risk 10$ to win 1$.

if we use X4, ok, if we have a death trade,...
At this point I agree with you. It was playing with larger multiplication that lead me to this system. I started at 3 but 4 or 5 seems to be a good point. What I like is using a larger lot size at the beginning because that is where most of your trades are. Then as you get deeper you decrease the increase. I see you do some programming, do you want to program the basics of an idea so I can test it out?? Send me a private message if you are interested.
  • #1,417
  • Mar 18, 2009 9:28am Mar 18, 2009 9:28am
So mathing out this death trade (defaults) I lost 508 pips on the first level, 417 on 2nd level and 325 on 3rd. Default levels of .1, .3, and .9 totals a - 4600. If levels were .1, .15, .375 my loss would be -2000. I've had 60 sequence wins and now 1 loss. If every sequence win was a steady +60 I would have +3600-2000 for +1600. My account on defaults now sets at +2300. I don't know which is better? Sence 37 out of the 60 total wins are on the first levels and I gain the same with either levels (+60) I will be adjusting the multiplier for the +60 on all level wins. This EA is a winner which I say Thank you nanningbob.
  • #1,418
  • Mar 18, 2009 10:51am Mar 18, 2009 10:51am
Quoting qz10cq
So mathing out this death trade (defaults) I lost 508 pips on the first level, 417 on 2nd level and 325 on 3rd....
My impression is that if only 1st levels, this system cannot guarrantee consistent winnings. Yes, for some pair, some period, we may see a series of 1st level TP. then, for some other pair, some other period, we may not.

the more volatile pairs, the more 1st level TP reached, i feel.

i cannot recommend you anything for your live trading. yet, i do think that position sizing at each level needs to be optimised. However, that 0.375 alone, seems too low. in that case, at 3rd level, when 60 tp reached, overall is not profitable, is it?
  • #1,419
  • Mar 18, 2009 11:16am Mar 18, 2009 11:16am
Quoting charvo
My impression is that if only 1st levels, this system cannot guarrantee consistent winnings. Yes, for some pair, some period, we may see a series of 1st level TP. then, for some other pair, some other period, we may not.

the more volatile pairs, the more 1st level TP reached, i feel.

i cannot recommend you anything for your live trading. yet, i do think that position sizing at each level needs to be optimised. However, that 0.375 alone, seems too low. in that case, at 3rd level, when 60 tp reached, overall is not profitable, is it?
Charvo, at the 3rd level (.375) you have a profit of +60
  • #1,420
  • Mar 18, 2009 11:54am Mar 18, 2009 11:54am
  •  dethl
  • | Joined Mar 2009 | Status: Digital Jack-Of-All-Trades | 36 Posts
How's everyone doing this morning? I've got quite a bit of movement on the EURUSD (no surprise with the FOMC meeting), USDCHF, GBPCHF, and EURCAD.

Of course with all this movement I'm hoping on a retrace. It's been a bumpy morning.
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