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Nanningbob 60x90 EA

  • #2,621
  • Sep 21, 2009 7:04pm Sep 21, 2009 7:04pm
Quoting nanningbob
NO, you need to close orders. I think the TP is set at 100 or 200 pips. Once a trade is in profit you ALWAYS...
Thanks for the answers

i did not know that... i thought it closes the trade when wit a center or opposite BB line... Note taken!

as for the 242 EA, i have the same Magic number (10) and as far as i see the ea do nothing, no error, no messages, nothing...

the 242 system tells you to do what? open a new position of the same type?
  • #2,622
  • Sep 21, 2009 10:59pm Sep 21, 2009 10:59pm
Quoting guito2009
Thanks for the answers

i did not know that... i thought it closes the trade when wit a center or opposite BB line... Note taken!

as for the 242 EA, i have the same Magic number (10) and as far as i see the ea do nothing, no error, no messages, nothing...

the 242 system tells you to do what? open a new position of the same type?
11. P 141 and following pages we start a discussion of the 242 recovery system. This is very valuable in getting out of troubling tades. On page 143 I talk about the difference between the 242 system and the recovery EA. Also read post #2417 p. 162
  • #2,623
  • Sep 22, 2009 2:09pm Sep 22, 2009 2:09pm
i allready read that but i didn't understand that... I'm sorry
  • #2,624
  • Sep 22, 2009 5:52pm Sep 22, 2009 5:52pm
Quoting guito2009
i allready read that but i didn't understand that... I'm sorry
Also follow post# 2578 p. 172. It gives a day by day of an actual live trade as I posted it online.
  • #2,625
  • Sep 22, 2009 8:11pm Sep 22, 2009 8:11pm
I appreciate your effort, but i still have doubts.

If you(or another) don't mind answer...

lets suppose this:

 

  1. I make a buy order, the price goes against and i reach -200 pips.
  2. I open another buy(???) order 2x the initial lot at the S/R line.

is this right? this is the part 2 of the 242 right? (the others parts i didn't study yet...)

again, thanks for the help!

  • #2,626
  • Sep 23, 2009 5:12pm Sep 23, 2009 5:12pm
Hi Bob,
I manually closed a trade that was in profit, and the EA immediately
opened a new trade. Presumably because I was still on the original signal bar. Could you post some code that would prevent this.
We all see the same dream, just from different viewpoints
  • #2,627
  • Sep 23, 2009 6:24pm Sep 23, 2009 6:24pm
Quoting Ironbark
Hi Bob,
I manually closed a trade that was in profit, and the EA immediately
opened a new trade. Presumably because I was still on the original signal bar. Could you post some code that would prevent this.
NO, that is what the EA is suppose to do. If you dont want it to trade again you take it off the screen. Then close the trade. I use a blank screen in which I change the back ground color of the screen, take the EA off and then save the screen as a blank. I still have the same indicators on my screen though. Very simple. Good luck.
  • #2,628
  • Sep 23, 2009 6:27pm Sep 23, 2009 6:27pm
Quoting guito2009
I appreciate your effort, but i still have doubts.

If you(or another) don't mind answer...

lets suppose this:

 

  1. I make a buy order, the price goes against and i reach -200 pips.
  2. I open another buy(???) order 2x the initial lot at the S/R line.

is this right? this is the part 2 of the 242 right? (the others parts i didn't study yet...)

again, thanks for the help!

Yes and then if price goes against you another -200 pips or so you enter another buy order but this time half of last lot size. So at 0 you can have 2 lots, -200 4 lots and at -400 2 lots. You are looking to zero out the trade as close as you can so when L 3 reaches in the area of L2 the trade is now 0 and you close getting out with a 0 or small loss. You almost got it.
  • #2,629
  • Sep 24, 2009 9:35am Sep 24, 2009 9:35am
Hi Bob.
I am at -237 Level 3 on GBP/CHF
Is this is a good time to apply the 242 system? What do you think will be the best place to enter L4 ?

Thanks
Attached Image (click to enlarge)
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  • #2,630
  • Sep 24, 2009 9:59am Sep 24, 2009 9:59am
Quoting armandog
Hi Bob.
I am at -237 Level 3 on GBP/CHF
Is this is a good time to apply the 242 system? What do you think will be the best place to enter L4 ?

Thanks
That one has been a loser. What I did was I bailed out on that last retracement but kept one level. Now I wish I hadnt. So I am not deep into that one now. You should try to enter a level now since it is at a support and close out the whole trade for a loss on the retracement. The pound is really taking a beating across the board right now and all you read about is USD weakness but the pound is collapsing. Find a good retracement, take a loss and just leave the pound alone right now.
  • #2,631
  • Sep 24, 2009 12:53pm Sep 24, 2009 12:53pm
Hi Bob

Just started testing this interesting EA a couple of days ago Now for a the first 24 hours it was very profitable but this morning (I am UK Based) I started a Drawdown which has got steadily larger as the day has progressed. The problem is CAD and GBP. I am long on 4 pairs GBP plus 3 pairs CAD and both currencies appear to be freefall Obviously when a currency moves heavily in 1 direction it will open up opposite trades across all its pairs thus magnifying any problem

What I would like to know is if what happened today unusual or a predictable although unpleasant event. (I need to get a feel for events like this before I can get the confidence needed for live trading) And if you suspect a large movement is taking place would you close down some of the trades early and at what point or would you leave them all until say level 2

Finally I have a couple of problems with the EA

1. If I change timeframes then the chart objects vanish e.g I if put a SR line on the 15min then switch back to the 4Hr then it disappears Also the trade arrows go as well

2. The EA does not enter the 2nd trade unless I remove the EA and then reopen it again

Many thanks for your help
  • #2,632
  • Sep 24, 2009 12:58pm Sep 24, 2009 12:58pm
I've just discovered this thread, seems I may have been unknowingly doing something similar.

http://benscoobert.mt4stats.com/
I didn't post anything about it as most people just rubbish martingale systems.
  • #2,633
  • Sep 24, 2009 6:38pm Sep 24, 2009 6:38pm
Quoting theorem
Hi Bob

Just started testing this interesting EA a couple of days ago...
Yes draw downs are common as the market trends in one direction. The key is surviving these long trends. They dont happen often but every currency will experience them a couple of times during the year. The pound is dieing right now and you have to use some trading skill at key points. Here is a pic of a eur/usd trade that has been going on for 3 weeks. It finally retraced and I can close out for a break even trade. At one point the trade went 467 pips against me but with yesterdays drop I can close this trade with a .31 cent profit. Learning to wait for a retracement to get out of bad trades is the key to my system. If you can learn how to take minimum losses and keep your profits it works very very well. I will now close this trade today and start the EA again. This is how the 2.4.2 recovery system works.

Yes the EA wipes out lines when you transfer to other TF and when it closes trades. If you want to keep lines you can save the template, for example eur/usd 9-25, and when you go to another TF open that template. I am using a S/R indicator and the one just posted will make lines from one TF post on all TF. They were posted Sept. 18 and my modification posted Sept. 21 will do 4H 1D S/R lines but will post them on any TF. You can try those.

The reentry problem I have not had that one. Strange, dont know what to say. Here is a pic of the break even trade on the eur/usd.
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  • #2,634
  • Sep 24, 2009 6:54pm Sep 24, 2009 6:54pm
Quoting BenScoobert
I've just discovered this thread, seems I may have been unknowingly doing something similar.

http://benscoobert.mt4stats.com/
I didn't post anything about it as most people just rubbish martingale systems.
Wow!! There are people in the world as strange as me. I call this multi level trading instead or martingale. The reason is there are big time traders who do that but the difference betweem Martingale and multi level is we dont risk our entire account on a trade. We only go x pips deep and then either take a loss or try to recover the trade back to 0. My basic philosophy is in every 1000 pips there will be a retracement where you can exit the trade with a minimum loss. There are some very rare exceptions but that is my philosophy. I really try to avoid trading interest rate news days and get out of long slow trends like the gbp/chf is going through right now. Some currencies I dont trade like the USD/CAD and NZD pairs with my system because small currencies paired with large currencies can get squashed. I have mentioned this in other posts.
  • #2,635
  • Sep 24, 2009 8:49pm Sep 24, 2009 8:49pm
Hi everyone. Been watching this terrific thread. Doesn't this system essentially end up being the same as the Robominer EA? Robominer trades AUS/NZD on a grid. Clever thing they did was also trade the EUR/CHF at the same time. Since the EUR/CHF moves opposite the other currency, they avoid draw down being huge. But because of the potential size of the grid, you have to use very small lots or risk blowing out your account, which means it only returns about 6-8% per month. I have nothing to do with these guys, but you may want to check it out and see what they have done.
  • #2,636
  • Sep 24, 2009 10:51pm Sep 24, 2009 10:51pm
Quoting smeseck
Hi everyone. Been watching this terrific thread....
There is nothing new under the sun, even though I have not thoroughly studied all the different types of systems, the basic ideas with different twists do come about. I have been getting around 20% on my 180x100 but I am trading 20 some currencies at once. These systems are all based on one simple concept price always works its way back to a median. Or more simply put what goes up, must come down and what goes down must come up. If you trade small enough and keep your margin in check, theoretically you should always be able to make a profit or close the trade as close to a 0 loss as you can. The key is having enough margin to stay with a trade until it comes back to its median. So I guess I would be a variation of that.
  • #2,637
  • Sep 25, 2009 12:27pm Sep 25, 2009 12:27pm
Hi Bob,

I like your 3L EAs. It doubles my demo account in 1 week.
But it just wipes out the demo account in just 1 day .
All EAs are from the 1st post.

About to start my live account, after seeing the demo account
double in a week. Now, I'm holding back till I know what's happening
with EAs.

What should have I done to salvage those losing trades that were
all closed on the same day?

Happy Trading.....

Rgds
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GBPUSD.gif Size: 54 KB
  • #2,638
  • Sep 26, 2009 2:37am Sep 26, 2009 2:37am
Quoting netventure
Hi Bob,

I like your 3L EAs. It doubles my demo account in 1 week.
But it just wipes out the demo account in just 1 day .
All EAs are from the 1st post.

About to start my live account, after seeing the demo account
double in a week. Now, I'm holding back till I know what's happening
with EAs.

What should have I done to salvage those losing trades that were
all closed on the same day?

Happy Trading.....

Rgds
You lot size is far too big for that size account, the potential loss for one set of trades gone wrong at level 3 and 0.01 lot size is around £425.

You need to be starting much smaller with less pairs, see my last post and study the stuff on the link.
  • #2,639
  • Sep 26, 2009 4:43am Sep 26, 2009 4:43am
Which 20 are you trading Bob? Playing around with a whole bunch on a small account, but I as just wondering what you had found long term...
"The market giveth and the market taketh away"
  • #2,640
  • Sep 26, 2009 6:17am Sep 26, 2009 6:17am
Thanks Ben. But which link?

My Demo account on FX PRO doesn't seem to take micro lot(0.01), of which I amend on the EAs to a mini lot (0.1). Possibly I will demo on other
broker that support micro account.

Anyway, just read some posts by Bob earlier that we need to close the trades manually. I actually allow the EAs to handle all trades ,open/close.
I will need to go thru' the instructions on the system again.

Cheers...
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