scooby-doo BOJ JPY pairs trading robot

Me too I'm confused... and I'm using my own dashboard with the inverted logic as I still think I'm right.
The way it is coded now is what some people here told me it has to be... so I made it. Buy I still think following these we are following counter trends and I'm not a friend of these.
The logic in this one is:
if 100 - RSI(5 Pairs M15) >=90 && 100-RSI(5 Pairs H1) >= 80 Then Buy Basket... and vice versa.
Me personally I'm using the inverted condition...
As I never got a comment of the BOJ gurus here... I'm just coding what is written

Quote:
Originally Posted by DXTrade http://cdn.forexfactory.com/images/buttons/viewpost.gif
I'm always impressed by these candles... even after trading for some time http://cdn.forexfactory.com/images/s...im/winking.gif



Funny how the dollar gets stronger when they are closed, maybe that gives a clue what is going on in the US.
They keep on saying they want a strong dollar but then keep on pushing it down as a strong dollar will kill them with all their debt. When NY is closed you see the dollar strengthen as the whole world wants a strong dollar - makes you wonder who has been keeping it weak ....

Hi buddy
how are you?
Answer given

Fujii Says Japan to Contact U.S., Europe If Needed as Yen Jumps Share Business ExchangeTwitterFacebook| Email | Print | A A A


By Toru Fujioka


http://www.bloomberg.com/apps/data?p...d=irTZ4GnzO_H0

Nov. 27 (Bloomberg) -- Japanese Finance Minister Hirohisa Fujii said he may contact U.S. and European officials to act on currencies, amid concern the yen’s surge to a 14-year high will hamper the economic recovery.
“I will establish contact if necessary,” Fujii told reporters in Tokyo today, when asked whether the government has raised the issue of intervening in currency markets. Asked if the Group of Seven nations will consider issuing a statement, Fujii said: “We will do what is necessary.”
Japan may sell yen for the first time in five years as the currency’s gain past 85 to the dollar threatens earnings at Sony Corp. and Toyota Motor Corp. and deepens deflation in the wake of the nation’s worst postwar recession. Renewed concern the global recovery will falter after Dubai sought a debt rescheduling has enhanced the allure of the yen as refuge.
“At a time when the recovery is expected to be gradual, an appreciating yen is of extreme concern,” said Yoshiki Shinke, a senior economist at Dai-Ichi Life Research Institute in Tokyo. “I think the government will take some kind of action.”
The currency climbed to 84.83 per dollar, the highest since July 1995, before paring its gains to trade at 86.29 at 5:21 p.m. in Tokyo. The Nikkei 225 Stock Average slid 3.2 percent, the biggest drop in eight months and the lowest close since July 13. Sony, the maker of the PlayStation 3 game machine, and Honda Motor Co., a carmaker that gets almost half of its sales in North America, led the decline.
“Abrupt” currency movements are “undesirable,” Chief Cabinet Secretary Hirofumi Hirano told reporters in Tokyo.
Take Action
Since yesterday, Fujii has said at least three times that the government may take “action” on any “abnormal” currency moves, language officials have used to try to curb the yen’s advance. “I’m very nervously watching” foreign-exchange markets, he said today.
Prime Minister Yukio Hatoyama, whose Democratic Party of Japan came into office for the first time 10 weeks ago, said yesterday that currency movements were “due to a decline in the dollar rather than strength in yen.” The U.S. Dollar Index’s 7.1 percent decline against a basket of currencies this year reflects speculation the U.S. Federal Reserve will keep interest rates near zero.
“There’s no mistake the harm is much greater” than the benefits, Fujii said, when asked about the strong yen. Those comments contrast with when he took office in September saying a stronger currency can be good for an economy because it enhances the wealth of consumers.
Korean Rivals
Sony, Canon Inc. and Sharp Corp. project the yen will average at 90 to 95 to the dollar this fiscal year. The stronger currency may widen an earnings gulf between Japanese and South Korean manufacturers after Samsung Electronics Co. and Hyundai Motor Co. reported record quarterly profits.
Should the Japanese currency stay at about 85 yen to the dollar, Toyota’s operating loss may widen by 90 billion yen in the fiscal second half and force the world’s largest carmaker to move more manufacturing outside Japan, said Mamoru Kato, an auto analyst at Tokai Tokyo Research Center in Nagoya.
Manufacturers are contemplating shifting operations abroad because the yen’s gains make it costlier to run factories at home. A stronger yen would be a “huge risk” to producing autos in Japan, Nissan Motor Co. Chief Operating Officer Toshiyuki Shiga said this month.
“We’re at a breaking point,” said Jesper Koll, chief executive officer of hedge fund TRJ Tantallon Research Japan. “There’s a point beyond which businesses don’t work.”
Add to Deflation
The yen’s 8.2 percent advance over the past three months has also added to deflationary pressure by driving import costs lower. Consumer prices excluding fresh food slid 2.2 percent in October from a year earlier, close to a record 2.4 percent decline in August, the statistics bureau said today.
Still, separate figures showed Japan’s labor market is improving, signaling the export-led recovery is spreading. The unemployment rate unexpectedly fell for a third month to 5.1 percent. The ratio of jobs to applicants climbed for a second month, and household spending rose 1.6 percent. Retail sales slid 0.9 percent from a year ago, the smallest drop in 11 months.
Financial Services Minister Shizuka Kamei today urged an international response to halt the currency’s gain. G-7 nations haven’t intervened together in currency markets since September 2000, when they bought euro to strengthen that currency. The last time the group bought dollars was in 1995.
Japanese authorities haven’t stepped into the currency market since the first three months of 2004, when they sold a record 14.8 trillion yen ($171 billion).
G-7 Statement
Last October, when the yen was close to a 13-year high against the dollar, the G-7 issued an unscheduled statement expressing concern about the yen’s “excessive volatility” at Japan’s request.
Some analysts said the U.S. would be reluctant to participate in joint currency intervention because the weaker dollar is helping its exporters.
“Industrialized economies basically prefer a weaker currency nowadays to promote exports and the U.S. is no exception,” said Hiroshi Watanabe, an economist at Daiwa Institute of Research in Tokyo.
Fujii also expressed concern this week that the dollar’s drop is weakening China’s currency, which has been pegged to the dollar since July 2008. China is Japan’s biggest trading partner.
“It can’t be helped that people see the yuan as undervalued given the strength of the Chinese economy,” he said in an interview, backing calls from the U.S. and Europe to let it gain. “The yuan is pegged to the dollar. I don’t think such a situation is necessarily good.”
To contact the reporter on this story: Toru Fujioka in Tokyo at [email protected]
Last Updated: November 27, 2009 03:23 EST

Sccobs, could you confirm or correct what I am thinking here, please?

Taking hte pre-Tokyo open as an example, we are actually looking at a 3 wave trading pattern here:

 

1. Traders look at the markets and find xxxJPY pairs to be fairly strong. We would see this on our screens as rising candles and low RS indi readings. Said traders short the xxxJPY pairs. The robot does not look at this wave.
2. The selling in wave 1 results in the Yen strengthening. On our screens, we see the candles falling and the RS indi rising. The robot leaps in at an appropriate stage and buys the crosses. Traders liquidate their shorts and go long.
3. The buying forces the YEN downwards. BOJ might intervene, it might not; in my limited experience it appears to do so more often than not. It is this that creates waves 1 & 2.

So, once the code for wave 2 is in place and working smoothly, I need to look to code to catch wave 1?

>>Steve, I think it's not so important, if the lot is rounded at 0.1 rather than 0.05
if (lotstep =0.05) lot=NormalizeDouble(lot, 1);

Steve,

Yes mate.

At the risk of drawing the ire of the BOJ gurus the attached chart shows my understanding of the buy and sell triggers using the original KG RS_GROUP_JPY V1.2 posted here in the beginning. This comment is just to clear up the inversion non inversion debate.

Cheers.

Hehe. I knew the solution was a simple one, I just couldn't think of it.

That was one of my logic fuzzes. They render me helpless.

Cheers.

Yep.

I tried to explain exactly this to DXTrade but my english is bad....
....a picture says more then 1000 words

Thanks

Thanks Steve. I did abandon this demo a while back due to this. There are people who believe brokers adopt these unusual situations in order to screw up EAs generally so people get unexpected results even without knowing it. This was a red flag for me for this broker.

I think that if you implement the fix anyway, it will increase the robustness of your EAs in dealing with unusual situations. Otherwise it's not important to me anymore.

You are my FF person of the year.

Cheers

So all fine now as the latest version 1.0 is doing just this

I switched back to using Alpari-UK last night.This morning there was no trades neither on the proper ea nor the 24 hr ea.
Also getting some error messages on the 24hr ea such as no trade allowed spread too wide and the following one:

I took the proper ea off and just loaded the 24hr one. Now this error message came up?

Strange

I am using exactly the same broker and software version and I have not seen this error.

I know it seems everyone is doing great and I am having all kinds of different results? Maybe the forex gods are against me

Maybe install a clean copy of MT4 and try again?

Wondering if somehow you are picking up an 'old' error?

Otherwise can't think why this happens. I run mine 24/7 and log is completely clean - so far ... but I always run only one EA on each account.

Best of luck - Steve may have a better idea when he drops in later.

Thanks Macman. I just downloaded the 24/h again, and so far no error messages. I am also going to try an experiment just to see what happens?
Will post results later.
Have a nice weekend everyone!