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scooby-doo BOJ JPY pairs trading robot

  • #3,261
  • Nov 24, 2009 1:44pm Nov 24, 2009 1:44pm
Quoting scooby-doo
Deutsche has been voted the best for the last 5 years on many things including customer service. citibank are ok but their customer service is no where near Deutsche.

Once I have my version of the MT4 24H system working then I will pay to have it converted to their API platform and open a live 100K GBP account for my non work related fx trading. I will also build in their TRUE volume/support/resistence/market order analysis.

Also, I know people working for Deutsche so this helps my decision.

Scoobs.
Scoobs I completely agree with you on DB - I've had an account with them for over a year and I'm very satisfied. Needless to say, my interest level was quite high when I first heard about the MT4 compatibility - I like Deutsche, they are a huge bank, customer service is excellent and I'm very comfortable keeping my money with them - MT4 seemed like icing on the cake.

DB uses the Boston Technologies API for MT4 compatibility; a quick search and you will fnd many people unhappy with the Boston API (not limited just to DB, most any broker that uses it). I had my reservations about the BT API so I called DB directly - the rep I spoke with advised I stay away from it if at all possible. The issues seem to be many; latency with quotes, requotes, addt'l fees that apply via the API (so BT gets paid) connection issues, etc. I think the MT4 compatibility is offered simply because so many traders use MT4 and the API was a quick way to get there. Hopefully, they will offer native support in the future for MT4 but until then...

Just to be clear to everyone reading this - this only applies to the MT4 side - DB is stellar in my book and a solid choice for a broker.

Regards
  • #3,262
  • Nov 24, 2009 1:44pm Nov 24, 2009 1:44pm
Quoting dryclean
On your link looks like you took a hit yesterday too. Was that Steve's ea or the Yen ea
Not Steve's EA my own.

Yes, took a massive it, was a coding error and should not have taken the buy orders.

I have fixed that error now, so we shall see what happen's next.

It looks to me as though the combined spread of XXXJPY pair's is a killer!!!

Scoobs.
  • #3,263
  • Nov 24, 2009 3:09pm Nov 24, 2009 3:09pm
Quoting sebastionay
[IMG]file:///C:/DOCUME%7E1/SEBAST%7E1/LOCALS%7E1/Temp/moz-screenshot.jpg[/IMG]I have read this thread and the attached documents, and downloaded and installed the EA and would like to say thanks for the shared contribution. I have the 24hr EA running on metatrader, however it doesnt execute any trades, do I need to change the variables or have I made some other mistake?
sebastionay, the ea's as they are, will not back test in the strategy tester.
If you also have them loaded on a GBPJPY chart, post another picture & peoples can see if anything shows up why its not taking trades.

cheers scalpz
Target 2 : Stoploss in the green
  • #3,264
  • Nov 24, 2009 3:59pm Nov 24, 2009 3:59pm
Quoting scooby-doo
Not Steve's EA my own.

Yes, took a massive it, was a coding error and should not have taken the buy orders.

I have fixed that error now, so we shall see what happen's next.

"It looks to me as though the combined spread of XXXJPY pair's is a killer!!!"

Scoobs.
Scoobs and Steve,
"It looks to me as though the combined spread of XXXJPY pair's is a killer!!!"
Scoobs just hit the nail on the head. I have not had the courage to say this for fear of being misunderstood especially given the generosity of Scoobs. Steve and other major contibutors on this thread.

I am of the opinion that on the long run we will have a more robust and profitable EA if we made the 24 Hr version for the US index instead.

The combined spread on the majors which we will have have in a US Index EA will be much less than the combined spread on the crosses which mostly make up the 24 Hr JPY EA. That means in a XXXUSD 24Hr EA we will have much less
drawdown. I believe Steve has already done an awesome job in the 24 hr JPY EA. Apply the exact same algorithm to the XXXUSD is what I am suggesting.

Thanks to Scoobs, Steve, S M Jones and other major contributors. I hope my message is well received. Happy Pipping.

Cheers.
  • #3,265
  • Nov 24, 2009 4:02pm Nov 24, 2009 4:02pm
Quoting DXTrade
Well... whatever...

I updated the dashboard with the following changes:

-removed the candle time as it is eating resources like crazy
-added visual alert if a buy/sell opportunity arises
-added the corresponding arrows on the chart... gives a kind of backtesting capacity

Take care guys...

Uli

Hi Uli, I just loaded your dashboard and noticed that sell arrows are being painted when the indicator is overbought.... This should be the other way because overbought yen = oversold yen crosses. This may explain the issue that you're having with Steve's EA also.
  • #3,266
  • Nov 24, 2009 4:18pm Nov 24, 2009 4:18pm
Quoting watube
Scoobs and Steve,
"It looks to me as though the combined spread of XXXJPY pair's is a killer!!!"
Scoobs just hit the nail on the head. I have not had the courage to say this for fear of being misunderstood especially given the generosity of Scoobs. Steve and other major contibutors on this thread.

I am of the opinion that on the long run we will have a more robust and profitable EA if we made the 24 Hr version for the US index instead.

The combined spread on the majors which we will have have in a US Index EA will be much less than the combined...
One reason we originally choose the XXXJPY pairs was because of the BOJ Intervention Policy during and outside of their trading session.

By their nature these pairs move at a tremendous rate, so DD will become an issue if the account is too small.

The problem with USD pairs is that they are subject to hedge funds liquidating volumes without warning and no CB interventions.

I actually think the 24H version is nearly there if we could somehow overcome the spreads involved on the retail side.

It needs more thought, which I am doing between my day job.

Cheers

Scoobs.
  • #3,267
  • Nov 24, 2009 4:24pm Nov 24, 2009 4:24pm
Leaving aside the spread thingy, next thing on my horizon is extending the the trend-spotting stuff to the other pairs in the basket.

It might be interesting to see where we go if a trade is only allowed into the basket in the direction of the trend of the individual pair.

This is what I am contemplating right now.

  • #3,268
  • Nov 24, 2009 4:52pm Nov 24, 2009 4:52pm
Quoting SteveHopwood
Leaving aside the spread thingy, next thing on my horizon is extending the the trend-spotting stuff to the other pairs in the basket.

It might be interesting to see where we go if a trade is only allowed into the basket in the direction of the trend of the individual pair.

This is what I am contemplating right now.

Steve,

There's another very obvious problem with trading this particular type of basket. We can only buy them all or sell them all.

If you take the USD basket, we would sell some and buy some, this means the +/- work themselves out, this combined with the lower spreads do make it more viable for trading 24H with much less potential DD.

With this basket we are basically relying on correlation holding which will be an issue if AUDJPY and USDJPY deviate significantly from the median.

Anyway, like I said, it needs more thought.

Scoobs.
  • #3,269
  • Nov 24, 2009 4:57pm Nov 24, 2009 4:57pm
Quoting scooby-doo
"Technical Analysis of the Currency Market" by Schlossberg.

The only fx book i have ever owned.

Scoobs.
Thank you Scoobs.
  • #3,270
  • Nov 24, 2009 5:03pm Nov 24, 2009 5:03pm
Quoting hohgch
Thank you Scoobs.
You can find it for free in pdf on the internet.

But i wont put the link on here as I assume that would be against FF rules.

Scoobs
  • #3,271
  • Nov 24, 2009 5:20pm Nov 24, 2009 5:20pm
Quoting scooby-doo
You can find it for free in pdf on the internet.

But i wont put the link on here as I assume that would be against FF rules.

Scoobs
Easiest way to find it is to google 'free download"Technical Analysis of the Currency Market" by Schlossberg' - that's what I just did.

  • #3,272
  • Nov 24, 2009 5:24pm Nov 24, 2009 5:24pm
ATC demo has taken sell basket.
  • #3,273
  • Nov 24, 2009 5:26pm Nov 24, 2009 5:26pm
Quoting Delage
ATC demo has taken sell basket.
There is economic news at 11.50pm GMT.
  • #3,274
  • Nov 24, 2009 5:30pm Nov 24, 2009 5:30pm
News filter on, why did trade trigger?
  • #3,275
  • Nov 24, 2009 5:33pm Nov 24, 2009 5:33pm
Quoting Delage
News filter on, why did trade trigger?
I dont know but it affects JPY with trade balance. Could be bad news indeed.
  • #3,276
  • Nov 24, 2009 5:46pm Nov 24, 2009 5:46pm
Don't know how the news filter could be not working, the 24 hour EA filtered 3 news events earlier today.
  • #3,277
  • Nov 24, 2009 5:48pm Nov 24, 2009 5:48pm
Quoting Delage
Don't know how the news filter could be not working, the 24 hour EA filtered 3 news events earlier today.
There is a description of how to set the filter settings in post 1.

  • #3,278
  • Nov 24, 2009 5:51pm Nov 24, 2009 5:51pm
The JPY trade balance vertical line just topped up. Will review first post.
  • #3,279
  • Nov 24, 2009 5:52pm Nov 24, 2009 5:52pm
Hedged 1 min. ago.
  • #3,280
  • Nov 24, 2009 5:58pm Nov 24, 2009 5:58pm
Is this a #3 high impact or #2 medium event?
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