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scooby-doo BOJ JPY pairs trading robot

  • #741
  • Edited 9:08am Nov 7, 2009 8:52am | Edited 9:08am
Quoting SteveHopwood
If people are too thick to work out how to make the robot trade at the correct times, they definitely should not be let out of the house alone, never mind be given funds to trade forex.

Sums up most peoples thoughts exactly.
You can accept people not understanding some of the technicalities involved with the system, (I'm definitely no coder or programmer either) but surely everyone knows how to tell the time!!?? And how to add and subtract?? Thats all this time issue boils down to.
  • #742
  • Nov 7, 2009 8:59am Nov 7, 2009 8:59am
Whan I was at music college, computers had punch-card operators.
  • #743
  • Nov 7, 2009 9:01am Nov 7, 2009 9:01am
Quoting SteveHopwood
Whan I was at music college, computers had punch-card operators.
Jesus Christ.
  • #744
  • Nov 7, 2009 9:10am Nov 7, 2009 9:10am
Quoting scooby-doo
Jesus Christ.
Yes, I remember, the first two years of my schooling at the University were punch cards. what a nightmare. I remember dropping the box more than once and having to resort them.
  • #745
  • Nov 7, 2009 9:22am Nov 7, 2009 9:22am
Punch card operators were quite highly paid.

During her Psychology degree, my wife did a computing module, where she had to program the punch cards. Put her off programming for life.
  • #746
  • Nov 7, 2009 9:46am Nov 7, 2009 9:46am
Quoting scooby-doo
Advice.

Someone PM me and asked how much money they should start trading forex with.

This may upset some people and I know some brokers will let you open and trade an account with 100 of base currency but my very strong advice and opinion is that you shouldnt be using anything less than 1000 of base currency.

I know this is just my opinion and you are perfectly within your right to disregard it.

Just be careful with account sizes and leverage.
Scooby,
Apropos to this post can you suggest a lot size to trade safely? 'Safely' being the operative word.

Vinesh
  • #747
  • Nov 7, 2009 9:52am Nov 7, 2009 9:52am
Quoting vinesh
Scooby,
Apropos to this post can you suggest a lot size to trade safely? 'Safely' being the operative word.

Vinesh
AccountBalance() / 20000
  • #748
  • Nov 7, 2009 9:54am Nov 7, 2009 9:54am
Steve,

There is a very important failsafe mechanism we need to build into the EA before it places any trades.

........................

if(IsUserDummy()) Lots = 0;

  • #749
  • Nov 7, 2009 9:56am Nov 7, 2009 9:56am
Quoting scooby-doo
AccountBalance() / 20000
So base lot=0.02. Ty
  • #750
  • Nov 7, 2009 9:58am Nov 7, 2009 9:58am
Quoting vinesh
So base lot=0.02. Ty
I assume your using a balance of 500 of base currency ?
  • #751
  • Nov 7, 2009 10:01am Nov 7, 2009 10:01am
Quoting scooby-doo
I assume your using a balance of 500 of base currency ?
1000

No make that 500. u r right.
  • #752
  • Nov 7, 2009 10:02am Nov 7, 2009 10:02am
Some Scenario to explain BOJ intervenention:

Scenario 1:
Overnight New York carry trade too much, so during Tokyo open BOJ buying YEN, indicator become oversold, and we sell XXXJPY basket. But why BOJ want to buy YEN in this case? Isn't BOJ like weak YEN to boost export?

Scenario 2:
Dow dropped 300pts overnight. JPY rise very fast during Tokyo open, indicator become overbought, but why we will wait until Tokyo close to initiate long trades on XXXJPY pair? BOJ will likely to sell YEN right?
  • #753
  • Nov 7, 2009 10:14am Nov 7, 2009 10:14am
Quoting fxfei
Some Scenario to explain BOJ intervenention:

Scenario 1:
Overnight New York carry trade too much, so during Tokyo open BOJ buying YEN, indicator become oversold, and we sell XXXJPY basket. But why BOJ want to buy YEN in this case? Isn't BOJ like weak YEN to boost export?

No. Indicator is reversed remember

Scenario 2:
Dow dropped 300pts overnight. JPY rise very fast during Tokyo open, indicator become overbought, but why we will wait until Tokyo close to initiate long trades on XXXJPY pair? BOJ will likely to sell...
Did you read the .pdf document ?
  • #754
  • Nov 7, 2009 10:23am Nov 7, 2009 10:23am
Yes. but just partial. This strategy assume YEN has more chance of strengthening during Tokyo open, weakening during Tokyo close. That means BOJ likely to buy YEN during Tokyo open or BOJ likely to sell YEN during Tokyo close. Is this a market behaviour due to fundamental flow or is this due to BOJ? What if BOJ decide to reverse this pattern?
  • #755
  • Nov 7, 2009 10:33am Nov 7, 2009 10:33am
Quoting fxfei
Yes. but just partial. This strategy assume YEN has more chance of strengthening during Tokyo open, weakening during Tokyo close. That means BOJ likely to buy YEN during Tokyo open or BOJ likely to sell YEN during Tokyo close. Is this a market behaviour due to fundamental flow or is this due to BOJ? What if BOJ decide to reverse this pattern?
Why would the BOJ reverse a pattern which:

1. Makes millions for them during their trading session.
2. Allows them to sell it off enabling exports to remain attractive.

The USA and Europe does not buy (to any major volumes) goods or trade the XXXJPY pairs during the main Tokyo session.
  • #756
  • Nov 7, 2009 10:43am Nov 7, 2009 10:43am
Scooby,
I'm on Pacific time so Sunday trading is available to us. Broker server starts at 2p.m. which is precisely when this EA will start monitoring for tradeing oppurtunity.
The question is DO WE TRADE SUNDAY CANDLES OR NOT?
Asking this in view of low liquidity.
Vinesh
  • #757
  • Nov 7, 2009 10:44am Nov 7, 2009 10:44am
V1.6 is in post 1. Read the updates section for details.

  • #758
  • Nov 7, 2009 10:48am Nov 7, 2009 10:48am
Quoting vinesh
Scooby,
I'm on Pacific time so Sunday trading is available to us. Broker server starts at 2p.m. which is precisely when this EA will start monitoring for tradeing oppurtunity.
The question is DO WE TRADE SUNDAY CANDLES OR NOT?

Vinesh
It can be dangerous to trade the Sunday candles as gaps appear, makesure you have at least 100 bars. I think the indicator may take care of this but i dont know.

Large spikes up or down are not uncommon during this time, so the indi may make the EA kick in prematurely before the market settles down.
  • #759
  • Nov 7, 2009 10:48am Nov 7, 2009 10:48am
Quoting scooby-doo
Steve,

There is a very important failsafe mechanism we need to build into the EA before it places any trades.

........................

if(IsUserDummy()) Lots = 0;

Don't tempt me.
  • #760
  • Nov 7, 2009 10:50am Nov 7, 2009 10:50am
I can add a Sunday candle filter if peeps want.

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