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scooby-doo BOJ JPY pairs trading robot

  • #621
  • Nov 6, 2009 4:31am Nov 6, 2009 4:31am
Scoob you are the deep throat of Forex ... Love ya work!
  • #622
  • Nov 6, 2009 4:38am Nov 6, 2009 4:38am
Quoting scooby-doo
I am actually working on allowing you to run this methodology 24/5. This does go against one of the main rules about BOJ intervention but it maybe possible. I obviously need todo allot more research before revealing how.

Attached is a current statement using the same lot size for all trades. This currently means the baskets do remain open for longer.

I set my basket TP to just (Lot size X 200)

Will report back my findings soon.

Detailed analysis can be found on this link: http://www.myfxbook.com/members/leno...t-trading/5526...
Nice, Just dropping in to say hello, I am leaving for the weekend in a couple of hours. Great work thanks for your info here. I went back and put all of your posts I felt were pertinent to this method and other bits of good advice from various threads in a PDF and will look it over this weekend While I am playing in San Fransisco. Hoping for nice weather.
  • #623
  • Nov 6, 2009 4:48am Nov 6, 2009 4:48am
Can anyone verify which indicator the latest robot, scooby-doo BOJ basket trading robot V1.5, is using... RS_GROUP_JPY V1.2 or RS_GROUP_JPY Strength Index ?
Vincit qui se vincit.
  • #624
  • Nov 6, 2009 4:49am Nov 6, 2009 4:49am
Quoting Pippopotamus
Can anyone verify which indicator the latest robot, scooby-doo BOJ basket trading robot V1.5, is using... RS_GROUP_JPY V1.2 or RS_GROUP_JPY Strength Index ?
It is absolutely using Strength Index

iCustom(NULL,0, "RS_GROUP_JPY Strength Index", 100, 1,0);

From the code in the EA. Now I am gone for the weekend.
  • #625
  • Nov 6, 2009 4:52am Nov 6, 2009 4:52am
Thanks for the Laser-like reply. Enjoy your leisure. And, of course, thank you for being so generous with your talents.
Vincit qui se vincit.
  • #626
  • Nov 6, 2009 5:16am Nov 6, 2009 5:16am
2nd basket opened 8:47 GMT sold 10:38 GMT 132 profit. Basket open a lot longer 1 hr 55 1st basket only 28 min

$ 197 from 2 baskets and 10 winners. I had 2 single trades but closed 1 manually at BE only because it kept going up to +17 then -18 it hit +15 i put a 15 TS on it. The other was-16 when I went to bed but close up for very small gain. NO DD TOO I changed the SL and TP from 1000 to 100 and 2000 to 200 I didn't realize this was a 5 digit default. Still have multiplier at 120 for now

Thanks Steve and Scooby for a real education
  • #627
  • Nov 6, 2009 6:05am Nov 6, 2009 6:05am
Steve,

When you have time, then you should build in FFCal. As you shouldnt enter any new trades 90 mins before or 60 mins after economic news affecting JPY. Unless you have allot of knowledge/experience of JPY markets.

Public holdays affecting Japan can cause the market to react very differently. The next one is on 23/11/09. You can easily get the full calender for 2009, 2010, and 2011 from the internet.

I do understand that everyone wants to make big bucks fast but this thread has only been going for a week so it is still in its infancy.

Many thanks to Steve and others for their hard work on putting this together so quickly.

Cheers.
  • #628
  • Nov 6, 2009 6:16am Nov 6, 2009 6:16am
Quoting scooby-doo
Steve,

When you have time, then you should build in FFCal. As you shouldnt enter any new trades 90 mins before or 60 mins after economic news affecting JPY. Unless you have allot of knowledge/experience of JPY markets.
No time for coding today, but keeping an eye on replies here in between appointments.

This is on my to-do list (FFCal, I mean). It is included with a lot of my robots, so it is only a case of copying the code across.

Also on my to-do list is having the robot automatically detect the time to start looking for trading opportunities.

If anybody happens to have an indi that detects upcoming bank holidays, that would be great. If not, we could have a handful of inputs that are the date of upcoming bh's so the robot would know not to trade.

Still thinking about the robot, even though I have no coding time today.

  • #629
  • Nov 6, 2009 6:24am Nov 6, 2009 6:24am
I just wanted to give my thanks to the great efforts being donated here by all of you. I have been following along for the last 2 days and look forward to continuing on that journey. I appreciate your generosity in making this strategy a winner.
Over confidence can be a moral hazard.... not to mention a financial one!
  • #630
  • Nov 6, 2009 6:38am Nov 6, 2009 6:38am
The one thing missing unfortunately and the one thing we will probably never be able to program into this, is the BOJ's pre injection volume.

Its a 3 step volume, as per most central bank injections. The only thing is its easier to pin point as markets overall tick volume is low.

Unfortunately, there is no accurate volume indicator for mt4, or any other free-to-trade software.

Strategy should work without though.

You also will want to stay clear of RBA news for BOJ trades also. AUD news effects carry trade volume with in effect, causes damage to the yen.

Just a few things the firm I worked for taught me

Best trades for BOJ volume is post interest rate meeting in tokyo. Lots of nice liquidity to lap up and take for a ride.
  • #631
  • Nov 6, 2009 6:47am Nov 6, 2009 6:47am
Quoting Takisd
The one thing missing unfortunately and the one thing we will probably never be able to program into this, is the BOJ's pre injection volume.

Its a 3 step volume, as per most central bank injections. The only thing is its easier to pin point as markets overall tick volume is low.

Unfortunately, there is no accurate volume indicator for mt4, or any other free-to-trade software.

Strategy should work without though.

You also will want to stay clear of RBA news for BOJ trades also. AUD news effects carry trade volume with in effect, causes...
Volume and to some extent accurate support/resistence will always be a problem for retail traders. They cant get a full picture of the market.

This is one of the reasons I advised for the basket TP to be set on the low side.

I have shown in the small statement I posted that with a 50K account you can make some nice profits relatively quickly with low DD and exposure.

What we need todo is concentrate on consistency, which we will be testing over the coming weeks.

Its still early days.
  • #632
  • Edited 8:01am Nov 6, 2009 7:46am | Edited 8:01am
What would be nice in an ideal world is some type of indicator which showed you the support/resistence levels for the combined JPY basket similar to the KG indicators, so we see an average of them.

I dont know if this is possible or even if it would be accurate. But it might help the EA dynamically set the TP based on market conditions.

Dont forget, if it was possible todo this very accurately then I and all the other commercial traders would probably be out of a job but all of us would be rich!

With my setup at work, i could load up the 5/6 charts and bloomberg/reuters information and tell you exactly where to set your TP's.

But trying to convey that here so it can be fully automated is a challenge.

Each trader should decide on what TP is reasonable for him/her. Obviously reasonable for me would be different to others.

I personally work on the premiss that >= Break Even is good. But others will disagree.

PS. Usually, like any business, if you want higher $ returns then you need higher $ investment.
  • #633
  • Edited 8:34am Nov 6, 2009 8:07am | Edited 8:34am
Just opened a 'cheeky' BUY XXXJPY... Don't worry, small equity % exposure.
H1 and M15 OS (and M5 even at time of entry).

I know it is outside the usual hours and a Friday... but setup looked nice with loads of support below current price and the down move looks exhausted for now.
Not gonna give it much room to the down side though.
Currently few $ in profit, will see...

*Added later: basket closed @ lotsize * 120. That's me done for this week. Thanks again guys for this great thread.

Good weekend to you all,

Vince
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  • #634
  • Nov 6, 2009 8:30am Nov 6, 2009 8:30am
Perhaps a moving average of the price of the opposing currencies would be a start. Ex. a 200 pd. SMA of the price of the opposing currencies may provide a rough measure or S/R.
Vincit qui se vincit.
  • #635
  • Nov 6, 2009 10:00am Nov 6, 2009 10:00am
Steve, something else to check into:
I loaded up 1.5 last night before the 'buy hour' on 4 timeframes, m5, m15, h1, h4. Different magic numbers for each.
The only one that took the buy basket was h4, not sure why the other 3 didn't.
I have my tp levels set different on all 4 timeframes, just to have some idea of how far the baskets can go.

Good thing is, h4 was the one taken, h4 i have multfactor set to 1000, so it made some nice cash last night basket took 2hrs14mins to get it's tp, but it did get it.
  • #636
  • Nov 6, 2009 10:08am Nov 6, 2009 10:08am
I been doing some more trades ignoring the BOJ intervention. I would'nt advise any of you todo this yet as I have not finished my research.

http://www.myfxbook.com/members/leno...t-trading/5526

Cheers.

PS. Its based on 80/20 on Higher TF (H1) and 90/10 on Lower TF (M15).
  • #637
  • Nov 6, 2009 1:54pm Nov 6, 2009 1:54pm
Quoting scooby-doo
I been doing some more trades ignoring the BOJ intervention. I would'nt advise any of you todo this yet as I have not finished my research.

http://www.myfxbook.com/members/leno...t-trading/5526

Cheers.

PS. Its based on 80/20 on Higher TF (H1) and 90/10 on Lower TF (M15).
Did you use an EA to make those trades and which one? Thanks for sharing your great insight of BOJ with us.
  • #638
  • Nov 6, 2009 1:56pm Nov 6, 2009 1:56pm
Quoting BullRun
Did you use an EA to make those trades and which one? Thanks for sharing your great insight of BOJ with us.
No, the trades were done manually.
  • #639
  • Nov 6, 2009 2:26pm Nov 6, 2009 2:26pm
Scooby, great thread and a great way to trade. Good stuff.
  • #640
  • Nov 6, 2009 2:57pm Nov 6, 2009 2:57pm
Hi..

EA didn't opened any trades for me this morning for BUY...
I think you are in EST and I am also in the same zone. My broker also has 4 digit quotes...

Can you please suggest the settings you have on this EA. Time and SL/TP settings etc..

Thanks in advance..

Quoting dryclean
2nd basket opened 8:47 GMT sold 10:38 GMT 132 profit. Basket open a lot longer 1 hr 55 1st basket only 28 min

$ 197 from 2 baskets and 10 winners. I had 2 single trades but closed 1 manually at BE only because it kept going up to +17 then -18 it hit +15 i put a 15 TS on it. The other was-16 when I went to bed but close up for very small gain. NO DD TOO I changed the SL and TP from 1000 to 100 and 2000 to 200 I didn't realize this was a 5 digit default. Still have multiplier at 120 for now

Thanks Steve and Scooby for a real education
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