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Trading aud/nzd successfully

  • #1,821
  • May 28, 2009 6:56pm May 28, 2009 6:56pm
Quoting Verto
ibfx bounces around 14.... i see 14-20 on most US brokers. MB Trading ranges from 5-10 pips but they are beta testing the mt4 platform still. I hear GoMarkets has lower spread and they are an Aussie broker, if I recall correctly.
no they dont have lwoer audnzd spread, sits around 20... however there eurnzd and gbpnzd spreads are far superior then that of ibfx...
Grabbing the bull by the horns!
  • #1,822
  • May 30, 2009 5:45pm May 30, 2009 5:45pm
Hello again thread people,

Have any of you tried trading similar strategy on other typically (or frequently) range-bound pairs? EUR/CHF, for instance. And, if so, with what results?

Also, (and forgive me if this is covered previously in this thread) are there indicators or alarms that have been developed and or discussed herein that relate to setting up trades in the best conditions?

To clarify, I have been trading only one pair, E/U. This is where I started and that was not long ago. Scalping mostly. Scalps I have won more consistently have been in range-bound PA where there is also some good volatility. I look for runs of 5-10 or more pip candles (wick-wick) on the M1 chart. I look for visible up-down movement on M1 candles. Playing the BB bounce or even entering trades near the median of the range seems to win most of the time as long as the TP is scaled small enough. I use 3 or 5 pip TP. In the right PA conditions this wins almost always.

I am encouraged to see that someone has automated a strategy for capturing small but consistent profits in this ranging pair (thanks to nanningbob & others). I am contemplating trying to automate the approach I described above, but there is (yet another!) learning curve there for me as I have no experience coding EA's.

I wonder if the automated approach discussed here might be similar or adaptable to the approach I described. Anyway, sorry if this is a rambling post & thanks for any reponse.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,823
  • May 30, 2009 5:50pm May 30, 2009 5:50pm
Quoting The Fool
Hello again thread people,

Have any of you tried trading similar strategy on other typically (or frequently) range-bound pairs? EUR/CHF, for instance. And, if so, with what results?

Also, (and forgive me if this is covered previously in this thread) are there indicators or alarms that have been developed and or discussed herein that relate to setting up trades in the best conditions?

To clarify, I have been trading only one pair, E/U. This is where I started and that was not long ago. Scalping mostly. Scalps I have won more consistently have...
This system has a warning system in it.

http://www.forexfactory.com/showthread.php?t=169309
  • #1,824
  • May 30, 2009 6:13pm May 30, 2009 6:13pm
Thank you, nanningbob - I will read through your 4H trading system thread.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,825
  • Jun 1, 2009 5:51am Jun 1, 2009 5:51am
Gomarkets now has 5 digit currenex feed, 8pip spread currently for audnzd... 0.9 pip for eurusd
Grabbing the bull by the horns!
  • #1,826
  • Jun 1, 2009 7:16am Jun 1, 2009 7:16am
What is their leverage and smallest position size?
  • #1,827
  • Jun 1, 2009 12:54pm Jun 1, 2009 12:54pm
Quoting whitegoodman
Gomarkets now has 5 digit currenex feed, 8pip spread currently for audnzd... 0.9 pip for eurusd
It looks as if you are a U.S. citizen, you're not allowed to open an account with them .... that sux ....
  • #1,828
  • Jun 1, 2009 3:18pm Jun 1, 2009 3:18pm
interest rate news tonight for AUD.

keep on your toes folks.
  • #1,829
  • Jun 1, 2009 3:27pm Jun 1, 2009 3:27pm
Quoting Verto
interest rate news tonight for AUD.

keep on your toes folks.
Thanks for the reminder. That's when it goes 100+ pips in one direction ...
  • #1,830
  • Jun 1, 2009 9:46pm Jun 1, 2009 9:46pm
I wonder if it will soon continue it's downtrend .....
  • #1,831
  • Jun 4, 2009 3:52am Jun 4, 2009 3:52am
I'll be pretty happy when mbtrading has their mt4 platform running live flawless.

Loving the spreads on audnzd.
Attached Image (click to enlarge)
Click to Enlarge Name: wowaudnzd.gif Size: 24 KB
  • #1,832
  • Jun 4, 2009 7:14am Jun 4, 2009 7:14am
Quoting Verto
I'll be pretty happy when mbtrading has their mt4 platform running live flawless.

Loving the spreads on audnzd.

Is this a Live Account? Nice. Even better than 5 Digit IBFX Demo.

Just pipped the living shit out of that whipsaw. Was brave enough to turn the
EA on. Didn't think IBFX could handle my orders that well when spread was between 1 and 1 Million. Made around 4% profit before I turned it off.

Don't know if I'll turn it on this week again. Friday is near and next week does not look god with another interestrate announcement.
  • #1,833
  • Jun 4, 2009 10:00am Jun 4, 2009 10:00am
Hi Tjpld

Where do you read the news that will be coming out.

Regards,

Donovan
  • #1,834
  • Jun 4, 2009 10:06am Jun 4, 2009 10:06am
http://www.forexfactory.com/calendar.php

Read between the lines. Sometimes it's not only AUD and NZD specific news that will move our pair. If the BoE doesn't cut rates that tells you something about how long this crisis might last. That's important for everyone so it will shake the AUD/NZD too.
  • #1,835
  • Jun 4, 2009 2:49pm Jun 4, 2009 2:49pm
Quoting Tjpld
Is this a Live Account? Nice. Even better than 5 Digit IBFX Demo.

Just pipped the living shit out of that whipsaw. Was brave enough to turn the
EA on. Didn't think IBFX could handle my orders that well when spread was between 1 and 1 Million. Made around 4% profit before I turned it off.

Don't know if I'll turn it on this week again. Friday is near and next week does not look god with another interestrate announcement.
No since mbt only had mt4 beta testing right now, but the navigator live spreads show up the same as the mt4 demo platform which means it would be the same spreads live.
  • #1,836
  • Jun 9, 2009 5:50am Jun 9, 2009 5:50am
I will start trading live beta with real money at MB trading once my application gets accepted.

I'll let you guys know how the spreads are and whatnot.
  • #1,837
  • Jun 9, 2009 6:27am Jun 9, 2009 6:27am
Great. Looking forward to it.
Thanks for your EA. Working like a charm.
Not a single freeze....yet.
  • #1,838
  • Jun 16, 2009 7:10am Jun 16, 2009 7:10am
Originally Posted by nanningbob http://www.forexfactory.com/images/buttons/viewpost.gif
I wrote up a nifty little EA for the AUD/NZD. It uses the BB on a 5M chart. It enters sells when it hits the top band and buys when it hits the bottom band and TP at 10 pips. Reenters every 20 SL 100. Bang bang bang all day long like we used to. I will post results this weekend.

Hi Bob
Don't know if I have missed this, have you posted this EA ?


Regards,

Donovan
  • #1,839
  • Jun 17, 2009 6:12am Jun 17, 2009 6:12am
Quoting dsissing
Originally Posted by nanningbob http://www.forexfactory.com/images/buttons/viewpost.gif
I wrote up a nifty little EA for the AUD/NZD. It uses the BB on a 5M chart. It enters sells when it hits the top band and buys when it hits the bottom band and TP at 10 pips. Reenters every 20 SL 100. Bang bang bang all day long like we used to. I will post results this weekend.

[i]Hi...
No I have not yet. I am testing it on 5M 15M and 30M charts. I have not posted it yet because there are a couple of bugs I need to work out. I also am not able to stay on line, maybe 3-6 hours a day right now and that is skewing my results and not allowing me to see what this does in all market conditions. I may post some version of it so others can test it this weekend.
  • #1,840
  • Jun 21, 2009 5:37am Jun 21, 2009 5:37am
Hi,

After looking at the FF news calendar, any suggestions on the days NOT to trade on?
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