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Trading aud/nzd successfully

  • #1,861
  • Jul 1, 2009 2:39am Jul 1, 2009 2:39am
Quoting der stratege
one of my tradingfriend spoke with ibfx about the fifo rule to bypass this.



and...



with this statement we could tweak the EA code to work with the new rule
True, it might be easier to just change the way it opens new orders like xlots then another one for like 0.10 or 0.01 less or half or whatever as opposed to changing the close order routine and whatnot.
  • #1,862
  • Jul 1, 2009 3:05am Jul 1, 2009 3:05am
What is the purpose of the FIFO rule anyway? Someone as to
benefit from it. Who is it? The broker? How does that change anything?
  • #1,863
  • Jul 1, 2009 3:57am Jul 1, 2009 3:57am
the purpose of the fifo rule is because of taxes. this is mostly for longtimeinvestments.i read that you can bypass the taxpayment with a second account.

i try to translate a german article into english:

i buy 100 contracts of a stock at 50$ from a company xyz in my first account. the quotes fall and i buy once again 100 contracts of the same stock with a price of 40$ but in my second account. after that the price raise back to 50$. now i sell the 100 contracts from my first account, which i bought at a price of 50$ and don't have to pay taxes like in germany called 'abgeltungssteuer' of 25% (don't know a english translation).

with the fifo rule without the two accounts the last bought stocks at 40$ were the shares i have to pay taxes for.
  • #1,864
  • Jul 1, 2009 4:10am Jul 1, 2009 4:10am
In my country law is:

What loss you make in investmets, you can count down
them from next 3 years winnigs tax. And tax is 28%


Like this years i lost 3000 euro total

next year i win 2000E and tax is 280E
tax zero and lost now 2780E
  • #1,865
  • Jul 2, 2009 7:46am Jul 2, 2009 7:46am
Whats up with the AUD/NZD lately?
  • #1,866
  • Jul 3, 2009 12:25am Jul 3, 2009 12:25am
Quoting Tjpld
Whats up with the AUD/NZD lately?
I was asking the same thing too ... it's been trending without much retracement lately ....
  • #1,867
  • Jul 3, 2009 7:47am Jul 3, 2009 7:47am
And without reason. At least compared to the GDP Reaction from last friday this was huge.
  • #1,868
  • Jul 4, 2009 10:06am Jul 4, 2009 10:06am
Quoting der stratege
the purpose of the fifo rule is because of taxes. this is mostly for longtimeinvestments.i read that you can bypass the taxpayment with a second account.
NFA only discover that now ? i mean for so many years people have been doing that.
  • #1,869
  • Jul 5, 2009 12:55pm Jul 5, 2009 12:55pm
Hello! I would like to know what the latest version of AUDNZD trading system and the EA(5 or H1), also where can I download them? Thanks in advance!
  • #1,870
  • Jul 8, 2009 3:47pm Jul 8, 2009 3:47pm
This pair has been trending between 200 pips lately ....
  • #1,871
  • Jul 21, 2009 3:14pm Jul 21, 2009 3:14pm
i RECEIVED THIS TODAY

SALT LAKE CITY— July 20, 2009—Interbank FX (IBFX.com), a worldwide provider of online foreign currency (Forex/FX) trading, announced today a solution for NFA Compliance Rule 2-43 affecting all NFA regulated Forex brokers.

Using our proprietary backoffice solutions, Interbank FX will allow our Meta Trader 4 platform to remain 100 percent compliant, while retaining order functionality and flexibility for customers trading. The MT4 platform will continue to function as our customers have experienced over the last several years. This includes the ability for customers to use fully functional Expert Advisors, Stops Losses, Take Profits, Trailing Stops and Limit Orders without making any needed adjustments.

“Certain US competitors have decided that their solution to the new FIFO rules are to move their customers overseas, rather than being compliant,” said Todd Crosland, Chairman and President of Interbank FX. “At Interbank FX, we have embraced the NFA’s efforts to help protect customers and provide a seamless solution without any changes to their current trading strategies.”

The only modification for customers will be their daily and monthly account statements, coming directly from the proprietary Interbank FX backoffice system using NFA FIFO offsetting procedures. The FIFO rule takes effect beginning July 31/August 1, 2009.

Interbank FX is currently working on a step-by-step video which will be available shortly on our web site, www.ibfx.com.
  • #1,872
  • Jul 21, 2009 3:31pm Jul 21, 2009 3:31pm
Nice one. So i can continue pipping the living shit out of AUD/NZD.
  • #1,873
  • Jul 21, 2009 4:14pm Jul 21, 2009 4:14pm
Quoting Tjpld
Nice one. So i can continue pipping the living shit out of AUD/NZD.

Which EA, template, and settings are you using now for AUD/NZD? Would you mind posting? I'm on IBFX so 4 digit live version is OK.

Thanks,
Field
  • #1,874
  • Aug 7, 2009 10:58am Aug 7, 2009 10:58am
Quoting Verto
I hope everyone's trading is going well. I found out today that the new FIFO rules will be put in place in the new week or so. I wish I could say that this was an exciting time for US-based brokers, but sadly it would appear that they are becoming more of a bother than they are worth.

All the same to use the 1.0x trading method developed by Der strange some coding issues need to be put in place to comply with the new FIFO rules.

1) the first order's tp needs to be moved to the last orders tp so that it is the first one being hit on a take profit....
I downloaded your EA On FXCM-uk demo no fifo. the settings are very dtailed Do you have a settings file I can download
  • #1,875
  • Aug 7, 2009 11:01am Aug 7, 2009 11:01am
No activity since July 21st. Whats up guys
  • #1,876
  • Aug 7, 2009 11:04am Aug 7, 2009 11:04am
Quoting Verto
True, it might be easier to just change the way it opens new orders like xlots then another one for like 0.10 or 0.01 less or half or whatever as opposed to changing the close order routine and whatnot.
You seem to be the expert on the AUD/NZD. You wrote an EA on the pair. What is new with your EA. What are your latest results Thanks
  • #1,877
  • Aug 7, 2009 11:07am Aug 7, 2009 11:07am
Quoting nanningbob
i RECEIVED THIS TODAY

SALT LAKE CITY— July 20, 2009—Interbank FX (IBFX.com), a worldwide provider of online foreign currency (Forex/FX) trading, announced today a solution for NFA Compliance Rule 2-43 affecting all NFA regulated Forex brokers.

Using our proprietary backoffice solutions, Interbank FX will allow our Meta Trader 4 platform to remain 100 percent compliant, while retaining order functionality and flexibility for customers trading. The MT4 platform will continue to function as our customers have experienced over the last several...

What do you think about IBFX.com. I have seen mixed reviews on them
  • #1,878
  • Edited 2:12pm Aug 7, 2009 2:00pm | Edited 2:12pm
Quoting daytrader15
What do you think about IBFX.com. I have seen mixed reviews on them
I like IBFX and contiue to use them to this day without problems. The major issue is really the spread of the pair, but as far as a broker goes (withdraws, etc.) I haven't had any issues with them. I'm no expert, I didn't 'write' the EA I just modified the existing one. Nothing new really with the EA I still use and haven't had anything to write about that is why the thread is so slow.
  • #1,879
  • Aug 7, 2009 4:57pm Aug 7, 2009 4:57pm
Quoting Verto
I like IBFX and contiue to use them to this day without problems. The major issue is really the spread of the pair, but as far as a broker goes (withdraws, etc.) I haven't had any issues with them. I'm no expert, I didn't 'write' the EA I just modified the existing one. Nothing new really with the EA I still use and haven't had anything to write about that is why the thread is so slow.
I think it would be nice if some of you guys would post some numbers on your results. Like I increased/decreased my account ??% this last month or two months. It probably would help with the discussion. Thanks.

Also, I have remained with IBFX, the issue I have with them was the expanding of the spread as it approached the profit line but it seems they have cut that junk out for now. I have not seen it recently. Also with their last fine they had to show some of their software program to NFA so that seems to have cleaned up that issue for now. All in all I have been satisfied with their service, they pay quickly when I ask for a check and most of the complaints about them are sour grapes most of the time.

They also seem to have a jump on the competition right now with the new NFA regs. I havent had to change a thing in my trading strategy even though it has effected other companies trading platform. I still wish I could hedge but you know cant have everything we want sometimes.
  • #1,880
  • Aug 7, 2009 9:46pm Aug 7, 2009 9:46pm
Quoting Verto
I like IBFX and contiue to use them to this day without problems. The major issue is really the spread of the pair, but as far as a broker goes (withdraws, etc.) I haven't had any issues with them. I'm no expert, I didn't 'write' the EA I just modified the existing one. Nothing new really with the EA I still use and haven't had anything to write about that is why the thread is so slow.
When you 30X20 what does that mean on the settings. There is only a 4 minute chart on MT4,could not find a 5 min chart,where does the 2X go,MM says MOney Management doesnt say true or false, risk says 260 not 5%. I see the 200 stop loss. I know it is too much to ask but if you posted a screenshot of the input tab on MT4 it would sure be helpful especially how to juice up the risk a tad would be helpful too. Sorry I am kind of a newbie to the EA's but I am learning fast.

Seems like you guys like Ibfx, I was on their website and you can link a Zions checking account to the trading account and get a debit card too. They had some bad reviews in the past but you claim they cleaned up. Are you sure their spreads on the AUD/NZD are competitive. I am running Robominer and prospectorEA's and I am looking for the best spreads. If MB can perfect their ECN Meta4 platform so it can handle EA's that will be a winner. They are talking 1/10th of a spread. It seems like some traders have live beta MB MT4 trader accounts but they are buggy yet
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