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scooby-doo BOJ JPY pairs trading robot

  • #4,361
  • Jan 10, 2010 4:51am Jan 10, 2010 4:51am
Quoting SteveHopwood
You bringing this book to my notice is the biggest thing done for me by an individual trader. People should be made to take an exam proving they understand its contents, before being allowed to trade live.

Problem is I probably wouldnt pass the exam these days.

  • #4,362
  • Jan 10, 2010 5:07am Jan 10, 2010 5:07am
I just finished reading this thread.. Steve, Scooby, I believe that youll come to heaven for sharing inforamtions and coding experts here.. Im Glad Youre here..
C.
  • #4,363
  • Jan 10, 2010 6:13am Jan 10, 2010 6:13am
Quoting scooby-doo
Just remember you need large SL with the Guppy otherwise you will blow all your trades.

Scoobs

Appreciate your concern and advice, will tread with caution.

Regards,
  • #4,364
  • Jan 10, 2010 7:01am Jan 10, 2010 7:01am
Quoting 4Xfactor
Appreciate your concern and advice, will tread with caution.

Regards,
In my opionion its the hardest currency to trade due to its high volatility.

Apart from being known as the guppy its also known as the BEAST.

Scoobs
  • #4,365
  • Jan 10, 2010 7:42am Jan 10, 2010 7:42am
Quoting scooby-doo
In my opionion its the hardest currency to trade due to its high volatility.

Apart from being known as the guppy its also known as the BEAST.

Scoobs
It seems I might be safer with EURUSD, then?

Regards,
  • #4,366
  • Jan 10, 2010 7:43am Jan 10, 2010 7:43am
Hi Steve,

Just hit the tally button for last week and the OP, Orig and 24H were all above water! You, Scoobs et al deserve a good slap on the back and a standing "O" from a sell-out crowd at Wembley.
Thankx for letting me ride, read and learn.............whip
  • #4,367
  • Jan 10, 2010 8:05am Jan 10, 2010 8:05am
Quoting 4Xfactor
It seems I might be safer with EURUSD, then?

Regards,
There is only one way to learn, just use a low lotsize and have a go with the GBPJPY on demo for awhile. It maybe a beast to trade but the rewards can be extremely high.

The biggest thing you need to worry about with this currency is interest rate changes in UK and Japan.

Ofcourse the EURUSD is allot safer and spread is lower but the rewards are far less.

You only really need 1 trade per day on the GBPJPY to earn a very nice income. If it becomes OB or OS in multiple TF's which is not a reflection of economic news affecting GBP or JPY then it is safe to enter the trade.

Scoobs
  • #4,368
  • Jan 10, 2010 12:12pm Jan 10, 2010 12:12pm
Quoting scooby-doo
There is only one way to learn, just use a low lotsize and have a go with the GBPJPY on demo for awhile. It maybe a beast to trade but the rewards can be extremely high.

The biggest thing you need to worry about with this currency is interest rate changes in UK and Japan.

Ofcourse the EURUSD is allot safer and spread is lower but the rewards are far less.

You only really need 1 trade per day on the GBPJPY to earn a very nice income. If it becomes OB or OS in multiple TF's which is not a reflection of economic news affecting GBP or JPY...
Scoobs,

Once again, I really appreciate you taking the time to advice me like this.

Best wishes,
  • #4,369
  • Jan 10, 2010 12:17pm Jan 10, 2010 12:17pm
Hello all...
I don't want to waste space, but if I may ask a question that has been on my mind, I would appreciate it, especially since we have experienced traders such as Scooby here.
My question is do we run an ea such as the original as it is, or do we use a program such as the mmtm to manage the ea? I have seen a lot of times a trade be in profit, but then end up as a loss. But then again, if we use a mmtm program to manage the trade, it might not yield the best results? So what is one to do? Use a sl/tp like 100 100 and hope you hit the profit more often than the loss?
I also like the GBP/JPY pair but as Scooby said it is very liquid and I would think you would need a larger sl? Finally out of all the ea's we now have to pick, if one were to ask which one would be the best to get most out of using the GBP/JPY pair? Would that be the boj original without using the eur/jpy pair in it?
Thanks
Vince!
  • #4,370
  • Jan 10, 2010 12:48pm Jan 10, 2010 12:48pm
Quoting 4Xfactor
Scoobs,

Once again, I really appreciate you taking the time to advice me like this.

Best wishes,
Finally, as with any currency pair, be careful if the bid price is near to its Daily 200 SMA. Obviously the distance away is different for each pair. If you want a guide for the GBPJPY then makesure it is at least > 0.500 (5 digits) in either direction using the MTF's OB/OS method.

Scoobs.
  • #4,371
  • Jan 10, 2010 3:29pm Jan 10, 2010 3:29pm
Another very simple strategy for any currency pair.

Go Long

Bid > H4 200 SMA
OS in H1 and M15

Go Short

Bid < H4 200 SMA
OB in H1 and M15

All you need to decide is TP, SL and watch out for possible trend reversal.

Scoobs.
  • #4,372
  • Jan 10, 2010 3:34pm Jan 10, 2010 3:34pm
Thanks scoobs,, using stoch period 2??
  • #4,373
  • Jan 10, 2010 3:38pm Jan 10, 2010 3:38pm
Quoting Sim
Thanks scoobs,, using stoch period 2??
RSI=2, OB=80, OS=20
  • #4,374
  • Jan 10, 2010 3:43pm Jan 10, 2010 3:43pm
thanks man you rock
  • #4,375
  • Jan 10, 2010 3:45pm Jan 10, 2010 3:45pm
Quoting SteveHopwood
Talking of , I downloaded the technical analysis ebook you mentioned a brief lifetime ago.

A lot of it I already knew. Some of it confirmed what I only thought I knew. Some of it introduced me to stuff I didn't know.

I took a bit of a break from ea programming this week, to look at the BB/MACD thingy from Setups...Setups

I have devised a system using hedging rather than stops that has made a killing on demo this week. I have spent a happy few hours today with the vHands trading simulator, doubling an account in simulated EU trading...
I use the attached MACD_BB indicator. It was taken from a thread in the recycle bin. An EA was created (found in MQL4 Community) but was reviewed as loser. Don't know why. However, i find it very useful in manual trading.

In the Input tab, select Histogram to false for personal preference.

Hope it helps in any way.

Cheers!
Attached File(s)
File Type: mq4 Macd_BB_NatusekoProtrader4HStrategy.mq4   2 KB | 402 downloads
福 子 Victor V
  • #4,376
  • Jan 10, 2010 3:54pm Jan 10, 2010 3:54pm
Quoting scooby-doo
RSI=2, OB=80, OS=20
Sorry if i sound stupid, just wanna confirm what i understand. The same RSI setting for both TFs?



P.S. Wonder if any has MTF RSI on a same chart?
福 子 Victor V
  • #4,377
  • Jan 10, 2010 3:59pm Jan 10, 2010 3:59pm
Quoting camvcvoo
I use the attached MACD_BB indicator. It was taken from a thread in the recycle bin. An EA was created (found in MQL4 Community) but was reviewed as loser. Don't know why. However, i find it very useful in manual trading.

In the Input tab, select Histogram to false for personal preference.

Hope it helps in any way.

Cheers!
Cheers. I have downloaded it and will take a look.

  • #4,378
  • Jan 10, 2010 4:25pm Jan 10, 2010 4:25pm
Quoting camvcvoo
Sorry if i sound stupid, just wanna confirm what i understand. The same RSI setting for both TFs?



P.S. Wonder if any has MTF RSI on a same chart?
YES
  • #4,379
  • Jan 10, 2010 5:01pm Jan 10, 2010 5:01pm
And EUR/JPY is looking like a Long within the next few hours going by that strategy. 15 is O/S and 1 hr is close. Price is well above the 200 Simple.

Jim



Quoting scooby-doo
Another very simple strategy for any currency pair.

Go Long

Bid > H4 200 SMA
OS in H1 and M15

Go Short

Bid < H4 200 SMA
OB in H1 and M15

All you need to decide is TP, SL and watch out for possible trend reversal.

Scoobs.
  • #4,380
  • Jan 10, 2010 6:12pm Jan 10, 2010 6:12pm
Quoting camvcvoo
Sorry if i sound stupid, just wanna confirm what i understand. The same RSI setting for both TFs?



P.S. Wonder if any has MTF RSI on a same chart?

Here an MTF RSI from cja

Have fun
Attached File(s)
File Type: ex4 RSI_Bars_M_v3.ex4   52 KB | 369 downloads
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