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scooby-doo BOJ JPY pairs trading robot

  • #841
  • Nov 8, 2009 7:45am Nov 8, 2009 7:45am
Hi,

Another quick clarification. As stated, the recommended take profit is calculated by Lot Size x 200.

I'm going to test this system with one of my sub accounts which is running under MBTrading's Metatrader4 platform.

With it's lot system, 1.0 lot size is roughly $1 per pip, with 10.0 lot size being roughly $10 per pip.

So with a lot size of 10.0, will the recommended take profit factor be then be lot size x 20?

Or will it remain at Lot Size x 200, which will then be 10 x 200 = 2000?

Sorry if this sounds confusing, but it's confusing for me at the moment as well.

I will be running this test under that sub account, and report back how it does with an ECN MT4 platform.

Appreciate all the hard work being put into this by everyone.
  • #842
  • Nov 8, 2009 7:48am Nov 8, 2009 7:48am
Hello all;

I have just finished reading the 839 posts, really great subject.

First I want to say thanks Scooby-doo for sharing your important information with us the public, you are rich by the good you make for people.

Also thanks to Steve who is working hard to deliver us a perfect ea on a golden plate, you are also rich for not being selfish and keep it for yourself since you can make loads of money from it.

Thanks to everyone who is contributing in this thread and testing and sharing information and knowledge.

I have a couple of questions:

Scooby-doo: you said in this thread that you used this technique for 7 years, so why you want to test it till January 2010 to give your final approval whether this will work or not?, also is it true that brokers manipulate price by even 250 pips?, what happened if there was a constant winnings in someone’s account, would they try to smooth the data so that the indicators or ea won't work properly and eventually loose?

Steve: what if someone might take this ea and start selling it; do you have any ways to prevent this?!

Thanks in advance for your reply...
  • #843
  • Nov 8, 2009 7:50am Nov 8, 2009 7:50am
Quoting Skylar Locke
Hi,

Another quick clarification. As stated, the recommended take profit is calculated by Lot Size x 200.

I'm going to test this system with one of my sub accounts which is running under MBTrading's Metatrader4 platform.

With it's lot system, 1.0 lot size is roughly $1 per pip, with 10.0 lot size being roughly $10 per pip.

So with a lot size of 10.0, will the recommended take profit factor be then be lot size x 20?

Or will it remain at Lot Size x 200, which will then be 10 x 200 = 2000?

Sorry if this sounds confusing, but it's confusing...
Lot size x 200

Dont forget your base Lot size will be 10.0 but this system uses different Lot size for each XXXJPY pair, so you better makesure you have a big enough account size and leverage otherwise you will get not enough money errors.
  • #844
  • Nov 8, 2009 7:53am Nov 8, 2009 7:53am
Thank you for the very prompt reply.
  • #845
  • Nov 8, 2009 7:56am Nov 8, 2009 7:56am
Quoting Skylar Locke
Thank you for the very prompt reply.
I dont know what leverage you are using but to start with a Base Lot size of 10.0 you are looking at having an account of 250K depending on your leverage.

Your starting Lot size should be AccountBalance() / 20000, if this is less than 10.0 then its for a very good reason!
  • #846
  • Nov 8, 2009 8:06am Nov 8, 2009 8:06am
Nah, I'll be nuts to be using that sort of lot size and leverage for a basket trading system, especially since I'll be testing it for the first day!

To be honest, I was a bit skeptical at the start after looking through several basket trading systems throughout the years which always accumulated in heavy drawdowns, but your experience, results and track record has led me to believe that this has been very well thought through.

My MBT MT4 account has an account size of about 24K at the moment, so I will be using a lot size of roughly $1 a pip or 1.0 lot size, and see how it does.

The take profit mechanics impresses me, as there are many systems around that seem to try and work and aim for that high take profit value, seemingly ignoring the fact that this is an automated system, and nothing can beat the manual analysis of support/resistance levels and price action. The fact that this system aims for a very manageable take profit factor without heavy drawdowns is very humble and impressive.

I'm a believer of gradual gains instead of searching for that one winning home run, and your insight, experience and willing contribution to a very sound trading system is very much appreciated.

Just can't say that enough really!
  • #847
  • Nov 8, 2009 8:29am Nov 8, 2009 8:29am
Quoting Skylar Locke
Nah, I'll be nuts to be using that sort of lot size and leverage for a basket trading system, especially since I'll be testing it for the first day!

To be honest, I was a bit skeptical at the start after looking through several basket trading systems throughout the years which always accumulated in heavy drawdowns, but your experience, results and track record has led me to believe that this has been very well thought through.

My MBT MT4 account has an account size of about 24K at the moment, so I will be using a lot size of roughly $1...
I had a friend once who developed a basket trading system. He set the basket ($) TP = 1200. He did make allot of money in the first week of trading it. But i bumped into him in a pub and asked how his method was doing, he said that he wasnt too sure because he was still waiting for a basket to close after 3 weeks and the DD was -18K. I said oh, demo account right, he said no, live account.

Didnt know whether to laugh at him or cry for him.

I havent heard from him for a couple of years. So i dont know if he is rich or selling the big issue somewhere. But i have a suspicion as too which one.
  • #848
  • Nov 8, 2009 8:38am Nov 8, 2009 8:38am
MBT has different way to calculate lot size .

Quoting Skylar Locke
Hi,

Another quick clarification. As stated, the recommended take profit is calculated by Lot Size x 200.

I'm going to test this system with one of my sub accounts which is running under MBTrading's Metatrader4 platform.

With it's lot system, 1.0 lot size is roughly $1 per pip, with 10.0 lot size being roughly $10 per pip.

So with a lot size of 10.0, will the recommended take profit factor be then be lot size x 20?

Or will it remain at Lot Size x 200, which will then be 10 x 200 = 2000?

Sorry if this sounds confusing, but it's confusing...
  • #849
  • Nov 8, 2009 9:29am Nov 8, 2009 9:29am
Quoting samer960
MBT has different way to calculate lot size .
It has to be x 20 at MBT?
  • #850
  • Nov 8, 2009 9:50am Nov 8, 2009 9:50am
Is there any consensus on the best criminal to use?
  • #851
  • Nov 8, 2009 10:18am Nov 8, 2009 10:18am
Quoting winsteadglenn
Is there any consensus on the best criminal to use?
0.10 in MBT is = 0.01 micro.
So i think if you set EA with 0.10 base lot (Mbt) than Tpmultiplicationfactor must be 20 not 200 (200 is for accounts with normal 0.1 lots).
Regards
  • #852
  • Nov 8, 2009 10:57am Nov 8, 2009 10:57am
Guernica, the multiplier factor is based on digits, not lotsize. Does not matter what size lots you trade, just whether you have 4 digit or 5 digit broker.
  • #853
  • Nov 8, 2009 11:15am Nov 8, 2009 11:15am
Quoting tazmaan
Guernica, the multiplier factor is based on digits, not lotsize. Does not matter what size lots you trade, just whether you have 4 digit or 5 digit broker.
Thanks for clarification. You´re right.
200 is a good factor and should not be changed.
Regards
  • #854
  • Nov 8, 2009 12:03pm Nov 8, 2009 12:03pm
Everyone

I do not trade other peoples accounts for them or allow them to copy my personal trades.

So dont email me asking me too as someone has just done today.

Last year my salary + bonus's was GBP 247,000, this doesnt include my personal trading profits, so i dont need to make peanuts trading other peoples accounts here or on any other forums.

Rant over.

Goodluck for the coming week.

Scoobs.
  • #855
  • Nov 8, 2009 2:26pm Nov 8, 2009 2:26pm
Well said ra123

Quoting ra123
Hello all;
I have just finished reading the 839 posts, really great subject.

First I want to say thanks Scooby-doo for sharing your important information with us the public, you are rich by the good you make for people.

Also thanks to Steve who is working hard to deliver us a perfect ea on a golden plate, you are also rich for not being selfish and keep it for yourself since you can make loads of money from it.

Thanks...
Thankyou thankyou thankyou to all contributors to this thread. Even the nobs, for asking the questions I was thinking as I was reading through the pages, and especially so many big thankyous to Scooby-doo & Steve the master programmer Hopwood.

Time to get my charts setup for the Japan opening.
Nice new pdf thanks Scooby-doo.

back soon
cheers scalpz
Target 2 : Stoploss in the green
  • #856
  • Nov 8, 2009 2:50pm Nov 8, 2009 2:50pm
Quoting ra123
Hello all;

I have just finished reading the 839 posts, really great subject.

First I want to say thanks Scooby-doo for sharing your important information with us the public, you are rich by the good you make for people.

[color=black][font=Verdana]Also thanks to Steve who is working hard to deliver us a perfect ea on a golden plate, you are also rich for not being selfish and keep it for yourself since you can make loads...
What I am testing on my own is being able to adapt this method so we can run it 24/5. Therefore being able to make more trades than just prior to and close of Toyko session.

Brokers make money out of the spread, so they are in a win win situation if you make or lose money. Some bucket shops widen spreads but if they do then just go with a better broker. They cant change the data they receive or pass on to their clients. This would be construded as fraud.
  • #857
  • Nov 8, 2009 2:53pm Nov 8, 2009 2:53pm
Great thread!

Quick questions:

Setting TradeSundayCandle to false means ignore Sunday candle so EA won't trade tonight?

Also, if it was to trade tonight, would it make sense to exclude AUDJPY from the basket as there is red news on AUD at 12:30 GMT?

Thanks!
  • #858
  • Nov 8, 2009 2:57pm Nov 8, 2009 2:57pm
Quoting challenger78
Great thread!

Quick questions:

Setting TradeSundayCandle to false means ignore Sunday candle so EA won't trade tonight?

Also, if it was to trade tonight, would it make sense to exclude AUDJPY from the basket as there is red news on AUD at 12:30 GMT?

Thanks!
We are looking for SELL XXXJPY pairs before Tokyo open. If the news regarding AUDJPY is bad then we are fine. If the news for AUDJPY is good then we have the remaining pairs and the BOJ intervention to get us out of any potential hole. This is why we trade the XXXJPY pairs together so the + and - compensate each other.
  • #859
  • Nov 8, 2009 3:08pm Nov 8, 2009 3:08pm
Yes I understand the concept of basket and why we do it this way, I was just thinking to play safe because sometimes red news move the price a lot.

Thanks for the answer!
  • #860
  • Nov 8, 2009 3:17pm Nov 8, 2009 3:17pm
Quoting challenger78
Yes I understand the concept of basket and why we do it this way, I was just thinking to play safe because sometimes red news move the price a lot.

Thanks for the answer!
The market to some extent already knows that the home loan news will be good, this was probably factored into last Fridays trading.

Governments like leaking information to a select few before scheduled dates and times.
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