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Nanningbob 60x90 EA

  • #2,561
  • Sep 10, 2009 6:47pm Sep 10, 2009 6:47pm
Hey Bob,
Don't mean to be confused. I used the 3 level EA's 60 x 90, so I guess I need to know how to adjust it for a 5 decimal demo. the 180, is it not a 5 decimal EA??? I will be looking for your new instructions/folder. I was just wanting to put the EA on the demo like I thought everyone does to start with. I was hoping for an easy answer to what adjustment was needed, and not knowing the EA's you have are for 4 decimal live instead of the demo. I guess the EA's are ready for live trading, but I want to try them on demo for a while, correctly. Thanks again.

Dane.
  • #2,562
  • Sep 10, 2009 7:12pm Sep 10, 2009 7:12pm
Quoting IamTHAT
Bob,

I encountered this problem today on my live IBFX account
USDCHF bought and sold 35 times within few minutes. I am not able to make out why this is happening. Though penny account it can vanish within no time.
It has to do with IBFX method of handling latest hedging rules? If there was an error with the EA, it could open many orders but how orders were closed instantly?
I dont think its the EA. I have been using it for 3 years without incident. The EA puts TP and SL settings so it is not sending out signals. If IBFX is under a cyber attack or they are meddling they will never admit that. So we cant say that stuff for sure. I have the 40MA BB running on more than one account and it is not having any problem with the others. I know IBFX did not tell me the truth because they said my IP address was the same that the trades were coming from but I know for a fact my friend was online trying to trade on the same account so they should have seen different IP addresses. I am assuming that is the problem unless other people have documented evidence that they are having the same issues. They told me it was the same IP address. So I will stay with the EA being sound and the problem is coming from elsewhere. I would like to gather more information if this is happening with several people and confronting IBFX and see what they say. If they are attacking EAs then we can report the facts to the Forex Peace Army and see what happens from there. We need to gather solid factual info. It maybe something simple. At this point I dont know.
  • #2,563
  • Sep 10, 2009 9:40pm Sep 10, 2009 9:40pm
Quoting DiamondDusto
i don't understand...my EA seems like...Freezing ???already 1 week and it doesn't have a trade Yet .....

help me ...
Freezing can have many causes. You have a conflict inside your computer. Your memory (ram) is not large enough to handle all you are doing on your screen. You turned the EA on and MT4 is also trying to download and update. Your virus protector is not compatible with MT4. I had one freebee virus protector that did not like the compiler inside the MT4 program and it kept trying to quarantine it. So you will need to do some trouble shooting.
  • #2,564
  • Sep 10, 2009 10:18pm Sep 10, 2009 10:18pm
I posted the 180x100, 200x200, 40MA BB with explanation booklet. I also included 4D and 5D versions with indicators.
  • #2,565
  • Sep 10, 2009 10:26pm Sep 10, 2009 10:26pm
Quoting nanningbob
I dont think its the EA. I have been using it for 3 years without incident.
I am also using it with couple of other brokers and there is no problem whatsoever. I am sure it is their anti-hedging mechanism going haywire.
You should see their journal entries if an EA tries to place a hedge trade.
Surprisingly I find no journal entries when it placed so many orders.
"Put all your efforts in becoming effortless"
  • #2,566
  • Sep 11, 2009 3:29am Sep 11, 2009 3:29am
Hey guys, long read here. I have read most of the meat and beans here. Seems the most re-iterated words of wisdom from Nanningbob is avoiding getting margined out. I was thinking, maybe this has been discussed or it wouldnt work. Is it possible to get a script made that would monitor the margin usage and temporarily disable any more trading of other currency pairs when the margin breaches a certain point. Not allow any more trades to be opened of other pairs until the open trade pairs have closed. Thus would prevent using to much margin at once and allow more pip value per trade. If this could be done, I would say add in a monitor for the current drawdown, and have a threshold there to that would limit opening more trades of other currencies until open trades are under the threshold.

I have very limited MQL experience but I have suprised myself, I will look into this, and search around to see if something like this exist.

I dont have enough experience using Nanningbobs EA's to say if this would slow the profits down or speed it up by allowing a better pip value without worrying about all the EA's opening to many at once.


Thanks, anyways Mr Nanningbob.
  • #2,567
  • Sep 11, 2009 3:49am Sep 11, 2009 3:49am
Quoting nanningbob
I posted the 180x100, 200x200, 40MA BB with explanation booklet. I also included 4D and 5D versions with indicators.
Thanks very much for this, I am sure it will help many ....
  • #2,568
  • Sep 11, 2009 4:39am Sep 11, 2009 4:39am
Quoting nanningbob
Just some added thoughts to post#2545. You really have to discipline yourself into thinking that forex trading is like investing not an income. I give my money to a bank and get 2-4%, other companies like insurance or investment firms 3-7%, there are bonds, treasury bills, etc. The stock market maybe 7-20% a year. My IRA doubles about every 5-7 years except this last year and then loses it all in 3 months. If you conservitively trade the Forex you can easily do better than other investments. The problem is we are drilled with all the hype, "trade...
thanks yes ur right. should off taken some of the table and dailed the risk down, it started at .01 lots with 10% risk but i'd up it to 15%. i thing is once you have some pairs in 3L or 4L then there all in. thats when you start to margin out and got closed the bigger lossers. and then they turn around or if could use 242 which i'd start to close pairs and trade1 out the EA but no cash left.
their is my live account statement.
cheers
daz
Attached Image (click to enlarge)
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  • #2,569
  • Edited Sep 12, 2009 8:30am Sep 11, 2009 10:48pm | Edited Sep 12, 2009 8:30am
I followed suit and you can also find my NanningBob trading results here.

The 60x90 demo testing was actually started in April '09 and I am currently up +60.3% on an initial 1,000.00 deposit. Keep in mind that IBFX consolidates trading history every three months. I am trading pennies per pip, nano account. If you look through my 60x90 trading history you will notice that EURJPY and USDCAD both hit level 4 and was stopped out in July.

Even with -20% loss from EURJPY and USDCAD the system only lost -5.5% for the month of July. Not bad at all. Going to try and learn the 242 recovery system and start implementing the recovery system once trades reach level 3. This will help reduce some of the losses on pairs that tend to trend strongly.

Bob it would be nice if you could also setup your testing accounts on http://www.myfxbook.com for all of us to see.

TimeFreedom

Quoting jacky
@hrd forex : this is myfxbook with nanning bob ea (since 25 aug 09)

http://www.myfxbook.com/members/jacky/jacky-2/601



live update per 10 sept 09 : 15 % growth from 25 aug 09
  • #2,570
  • Sep 11, 2009 11:16pm Sep 11, 2009 11:16pm
Quoting TimeFreedom
I folowed suit and you can also find my NanningBob results here

The 60x90 demo testing was actually started in April '09 and I am currently up +60.3% on an initial 1,000.00 deposit. Keep in mind that IBFX consolidates trading history every three months. I am trading pennies per pip, nano account. If you look through my 60x90 trading history you will notice that EURJPY and USDCAD both hit level 4 and was stopped out in July.

Even with -20% loss from EURJPY and USDCAD system was...
Because of very strong trending possiblilities I dont recommend the USD/CAD, nzd/chf, nzd/jpy and nzd/usd with the 60x90 and the 180x100. Testing with the 40MA BB will probably show the same thing. I still use those pairs with 4H trading system however.

The reason is CAD and NZD are very small currencies who can get squashed by the bigger currencies. There just isnt enough business done in NZD or CAD to cause regular retracements like the other currency pairs. The AUD has had this problem at times also but that currency is getting used more and more on international markets and has shown it can retrace. Dont know if that will hold if and when economies boom again but that is my thinking on the AUD.
  • #2,571
  • Edited 8:45am Sep 13, 2009 7:25am | Edited 8:45am
CHF has interest rate this Thursday. I dont expect it can do anything to go outside the range on an EA but the CHF has a tendency to go into a long trend with little retrace after any changes so be on the look out for that. Other than that happy trading.
  • #2,572
  • Sep 13, 2009 8:51am Sep 13, 2009 8:51am
Quoting Dazler74
thanks yes ur right. should off taken some of the table and dailed the risk down, it started at .01 lots with 10% risk but i'd up it to 15%. i thing is once you have some pairs in 3L or 4L then there all in. thats when you start to margin out and got closed the bigger lossers. and then they turn around or if could use 242 which i'd start to close pairs and trade1 out the EA but no cash left.
their is my live account statement.
cheers
daz
Thats a nice looking live account statement. Now remember one more thing. You have not made any money yet. You have not made money until you receive a check from your broker. That is when you have made money. I would take out your original amount, looks around 400 dollars and now you cant lose any money but only gain. Makes your trading much nicer. Also makes the wife happy you got a check for your original amount back. If you have one.
  • #2,573
  • Sep 13, 2009 8:55am Sep 13, 2009 8:55am
Quoting jboddie
Hey guys, long read here. I have read most of the meat and beans here. Seems the most re-iterated words of wisdom from Nanningbob is avoiding getting margined out. I was thinking, maybe this has been discussed or it wouldnt work. Is it possible to get a script made that would monitor the margin usage and temporarily disable any more trading of other currency pairs when the margin breaches a certain point. Not allow any more trades to be opened of other pairs until the open trade pairs have closed. Thus would prevent using to much margin at once...
There are two sections in the programming. One is setting an amount not to go below. For example if you have 4000 and you set it at 3500 it will close all trades and stop. Another section has a percentage. For example you set it at 10% and when your account goes 10% in the whole it will close all trades but then start trading again. I dont use them but they are there. For guys with larger accounts you may want to look into using that section of the code.
  • #2,574
  • Sep 13, 2009 10:27am Sep 13, 2009 10:27am
you have really done a great work. I want to try it.
  • #2,575
  • Sep 13, 2009 6:43pm Sep 13, 2009 6:43pm
Quoting nanningbob
Thats a nice looking live account statement. Now remember one more thing. You have not made any money yet. You have not made money until you receive a check from your broker. That is when you have made money. I would take out your original amount, looks around 400 dollars and now you cant lose any money but only gain. Makes your trading much nicer. Also makes the wife happy you got a check for your original amount back. If you have one.
HI Bob, the account started at $250 Aud, it got up to 1300 be for margin out.
60x90 had 4 pairs and 180x100 had 2 which was ok.
audusd L4 02 04 08 .24 lots 60x90
gbpusd L2 .03 .06 was 180x100
eurusd L4 .02 .04 .06 .08 60x90
cant seem to post doc of statement it get a docx xlsx when upload? if anyone would like a look?

will look into the code to protect the account if margin outs. it would not of opened aud 24 and eur 08 gpb 06 lots if had it turn on . as from the statement was only -174 in hole on Monday but Tuesday came
will do some more testing, time to build that account.
daz
  • #2,576
  • Sep 13, 2009 10:06pm Sep 13, 2009 10:06pm
Quoting Dazler74
HI Bob, the account started at $250 Aud, it got up to 1300 be for margin out.
daz
I simply don't understand why you didn't cash out or divert to another mini account. Nice result anyway.
"Put all your efforts in becoming effortless"
  • #2,577
  • Edited 11:09pm Sep 13, 2009 10:35pm | Edited 11:09pm
Quoting Dazler74
HI Bob, the account started at $250 Aud, it got up to 1300 be for margin out.
60x90 had 4 pairs and 180x100 had 2 which was ok.
audusd L4 02 04 08 .24 lots 60x90
gbpusd L2 .03 .06 was 180x100
eurusd L4 .02 .04 .06 .08 60x90
cant seem to post doc of statement it get a docx xlsx when upload? if anyone would like a look?

will look into the code to protect the account if margin outs. it would not of opened aud 24 and eur 08 gpb 06 lots if had it turn on . as from the statement was only -174 in hole on Monday but Tuesday came
will do some more testing,...
If you are trading pennies your lot size is barely managable. If you are trading dimes, you are way overmargined. When I give numbers, it is based on USD. The Aud is about 80% of that so that means your margin is even tighter than my account. At 200 dollars I use .01 or 1 penny nothing bigger. More than that and you dont enough margin to trade multi level. I also trade high leverage. 400:1 If I have 250 dollars I can trade like having 1000. If you are trading 250 dollars but your leverage is 100:1 you are really trading 1/4 of the money I have and that wont give you much room for trades that run for a while. So check your lot usage and leverage.
  • #2,578
  • Edited Sep 15, 2009 2:08am Sep 14, 2009 8:12pm | Edited Sep 15, 2009 2:08am
In my 4H trading system you can see a day by day example of how I minimized my loss on a gbp/usd trade. The trade started 9-3 at post 287 when I made the call for a sell on the gbp/usd.

http://www.forexfactory.com/showthre...169309&page=20

SO this is how this particular trade went from beginning to end:
9-3 open trade gbp/usd post #287 P.20
9-4 carryover-72 added a 2L during the day.
9-7 closed +74 carryover -17 Post #296 p. 20 (here is where I make a mistake and not close both levels. I decided to ride the 2nd level out)
9-8 carryover -136 #300
9-9 carryover -206 #301
9-10 carryover -424 #306
9-12 carryover -394 #311
9-14 closed -100 #319 & 320
total with +74 profit -100 close total trade -26 pip loss.
That is how you can minimize your losses.
The distance from first entry of this group of trades until close of the last trade was just over -200 pips however the loss on the books is only -26. This is one of the benefits of multi-level trading.
  • #2,579
  • Sep 15, 2009 10:07am Sep 15, 2009 10:07am
I posted a 60x90 5D version at post 1. Some people have asked for it.
  • #2,580
  • Sep 16, 2009 7:56am Sep 16, 2009 7:56am
Quoting jacky
@hrd forex : this is myfxbook with nanning bob ea (since 25 aug 09)

http://www.myfxbook.com/members/jacky/jacky-2/601



live update per 10 sept 09 : 15 % growth from 25 aug 09
Expensive lesson. I forgot to turn off EA today for GBPNZD pair and turn on rescue EA, hit my stoploss.
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