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scooby-doo BOJ JPY pairs trading robot

  • #2,381
  • Nov 16, 2009 7:22pm Nov 16, 2009 7:22pm
IMHO it is still the best idea from I-forgot-whom to just increase the trading times of the first EA in both directions instead of having 2 EA's.
How long to extend is up to the "real" traders in this thread. Even me, trading since 8 years, I'm a complete idiot when it comes to the fine-tuning of international banking fundamentals.

It sounds like a great & greedy idea to let it run 24/5, but limiting the trading times or "not trading" is trading as well... sometimes even wiser. I always was opposed to trade for the sake of it, and as far as we have seen the "original" EA is pretty effective.

Just thinking loud here...


P.S. After reading countless posts in the 2 big forex forums over the years it is fascinating to see this: the originator is starting a thread with a real good system. He's publishing it because it works for him.
Some 100 pages later and countless additions and improvements the system is not working anymore and the thread starter is gone, probably making money with his system from post #1.

Again... just thinking loud here... Scooby and Steve.... don't leave
"The only successful substitute for brains is silence."
  • #2,382
  • Nov 16, 2009 7:26pm Nov 16, 2009 7:26pm
Quoting Takisd
Letting winners run defeats the purpose of basketing. You might as well pick tops and bottoms and hope for the best.

The idea of this is to jump onto a liquidity move and make take it off the table, and wait for the next move.

As the indicator is showing an index and is used on multiple time frames, Scalping this method is probably alot smarter than trying to trade a swing with it.

Equity stop loss is by far superior to a regular stop with a basket, as I have encountered a stop out on g/j but the other pairs hit my basket level of profit so...
While I agree with most of your advice, I personally would not exclude either GBPJPY or AUDJPY from being traded. For reasons I have posted before the two I would exclude is NZDJPY and CADJPY.
  • #2,383
  • Nov 16, 2009 7:26pm Nov 16, 2009 7:26pm
I get an alert to sell xxJPY but the trades are not placed.
Checking the Expert and Journal messages do not show any indication of a problem also the Tool/Option seams to be set properly.

Any suggestion ???
  • #2,384
  • Nov 16, 2009 7:29pm Nov 16, 2009 7:29pm
Quoting Neptune
I get an alert to sell xxJPY but the trades are not placed.
Checking the Expert and Journal messages do not show any indication of a problem also the Tool/Option seams to be set properly.

Any suggestion ???
Problem found "Send Alert not to trade " set to true.
Changed to false and it works.
  • #2,385
  • Nov 16, 2009 7:34pm Nov 16, 2009 7:34pm
Quoting scooby-doo
While I agree with most of your advice, I personally would not exclude either GBPJPY or AUDJPY from being traded. For reasons I have posted before the two I would exclude is NZDJPY and CADJPY.
Just an observation of mine thats all I only ever really see drawdown of O_O proportion from gbp/jpy and aud/jpy, and when there was no gbp/jpy trade it basketed quite quickly. I have a pretty distant basket TP its approx 20 pips per pair on 4 pairs with the mm thats built in. Although the volatility of G/j could save you sometimes, it feels more likely to hurt than save from what I've seen.

Does anyone even trade nappy anymore ? Last i looked the volumes were quite low
  • #2,386
  • Nov 16, 2009 7:39pm Nov 16, 2009 7:39pm
17 Nov 2:35:14 PM Japan to sell 2.5TN Yen ($28.08 billion) in 1-Yr Treasury Discount Bills

This came out 2 mins ago...
  • #2,387
  • Nov 16, 2009 7:43pm Nov 16, 2009 7:43pm
Quoting e-piphany
17 Nov 2:35:14 PM Japan to sell 2.5TN Yen ($28.08 billion) in 1-Yr Treasury Discount Bills

This came out 2 mins ago...
Whats your point ?
  • #2,388
  • Nov 16, 2009 7:53pm Nov 16, 2009 7:53pm
Just interested as to whether this will affect their intervention strategy for the day.
  • #2,389
  • Nov 16, 2009 8:37pm Nov 16, 2009 8:37pm
That is intervention.
  • #2,390
  • Nov 16, 2009 9:07pm Nov 16, 2009 9:07pm
Quoting Takisd
That is intervention.
Yes, but it is not directly selling or buying the currency which if I'm not mistaken is what we are mainly talking about here. I guess my question is, will this affect how they directly intervene today, given that this will cause yen to be bid.
  • #2,391
  • Nov 16, 2009 11:32pm Nov 16, 2009 11:32pm
BOJ is only ever speculating on Yen.. Either buying or selling it. Injecting cash depreciates the yen.

They do not get involved in other currencies, they only affect the yen. Its about liquidity pumping or depleting. Thats their game. Same as all other central banks. They aren't particularly in the game of making profit from speculation, more into making the govt rich by changing the currency to fit the economic climate/day to day needs of the country.

So if they say they will sell yen, it makes more yen available in the market which means the yen will depreciate.


______________________________________________________________
Dno if i found a bug or what. But I have settings 80/20 for 1hr and 90/10 for 15 min, and it just opened a basket and the 1hr was no where near the 20 mark.
Just thought I'd point that out to see if its an issue with the system or am I missing something?
  • #2,392
  • Nov 17, 2009 1:38am Nov 17, 2009 1:38am
buy basket opened but minus eurjpy as was blocked by requote. Steve does the EA have any order resend function for this problem?
TRADE FOR SWAP
  • #2,393
  • Nov 17, 2009 1:46am Nov 17, 2009 1:46am
Quoting cgldsmth
buy basket opened but minus eurjpy as was blocked by requote. Steve does the EA have any order resend function for this problem?
It is supposed to, so there is probably something wrong in the order in which the robot deletes the global variables intended to force a re-send when things go wrong. I will look at the code.

In the meantime, using the instant labels will replace a missing trade.

  • #2,394
  • Nov 17, 2009 1:49am Nov 17, 2009 1:49am
Just so everyone knows, I am not going to amalgamate the two robots.

The first robot trades a proven strategy and a number of us are using it on live accounts.

The 24H versions is purely speculative; I don't see how a method that gives such spectacular profits is not also going to give them all back at some stage. To amalgamate the two would be silly.

  • #2,395
  • Nov 17, 2009 1:51am Nov 17, 2009 1:51am
Quoting SteveHopwood
Just so everyone knows, I am not going to amalgamate the two robots.

The first robot trades a proven strategy and a number of us are using it on live accounts.

The 24H versions is purely speculative; I don't see how a method that gives such spectacular profits is not also going to give them all back at some stage. To amalgamate the two would be silly.

indeed my 24hr version demo gave up all it's profits and more for the week overnight hitting SL.
TRADE FOR SWAP
  • #2,396
  • Nov 17, 2009 1:55am Nov 17, 2009 1:55am
Quoting SteveHopwood
Just so everyone knows, I am not going to amalgamate the two robots.

The first robot trades a proven strategy and a number of us are using it on live accounts.

The 24H versions is purely speculative; I don't see how a method that gives such spectacular profits is not also going to give them all back at some stage. To amalgamate the two would be silly.

I agree. Oranges and apples don't mix.
  • #2,397
  • Nov 17, 2009 1:58am Nov 17, 2009 1:58am
I am what I consider new to Forex (trading live for about 12 months) and I am reading all this about robots etc... I am manually working out the XXXJPY trades each week. I am on dealbook 360. Do the robots only work on MT?
  • #2,398
  • Nov 17, 2009 2:06am Nov 17, 2009 2:06am
Quoting cgldsmth
buy basket opened but minus eurjpy as was blocked by requote. Steve does the EA have any order resend function for this problem?
I have fixed the bug, I think.

I will put up the fix before Sell hour starts, in case others surface in the meantime.

  • #2,399
  • Nov 17, 2009 2:10am Nov 17, 2009 2:10am
thanks.

current basket in a world of pain and hurtling toward SL. This is with v2.3. 2.5 on demo has it filtered due to news.
TRADE FOR SWAP
  • #2,400
  • Nov 17, 2009 2:23am Nov 17, 2009 2:23am
No auto trades on 2.5 or 24h for me last night - just did a few sells on the 24h to make sure it is still working

Noticed the risk to reward is high - +34 against -416. Can some one tell me how/what I change for a one to one risk please.

Paul
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