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Trading aud/nzd successfully

  • #1,941
  • Jan 7, 2010 11:04am Jan 7, 2010 11:04am
This code is much different than I am used to. But I think I got it. I did not test it though but there was one command I did not know and had not see before. I replaced it with what should open for any currency now. If that change did not work, I have no idea how it forces itself on one currency. Good luck.

Also I saw in this code a Martingale feature. This would be a very dangerous multiplication and could easily wipe out an account even though you are hedging. It inputs lot sizes that many companies would not accept for instance IBFX only allow 50 lots to be the biggest entered. So Caution here:
double aLots[]={1,3,6,12,24,48,96,192,384,768};

So after 6 levels you are finished adding levels. Interesting EA though.
Attached File(s)
File Type: mq4 Paulo_Costa_Hedge VER1.mq4   12 KB | 366 downloads
  • #1,942
  • Jan 7, 2010 11:37am Jan 7, 2010 11:37am
Hi thanks allot for ea will test it now see i now there is martingale written into it. But with correct management and trading the correct times it will be sucsessful. But will first test it and then i will post it with everything that is needed for it to be sucsessfull.

Thanks allot

Quoting nanningbob
This code is much different than I am used to. But I think I got it. I did not test it though but there was one command I did not know and had not see before. I replaced it with what should open for any currency now. If that change did not work, I have no idea how it forces itself on one currency. Good luck.

Also I saw in this code a Martingale feature. This would be a very dangerous multiplication and could easily wipe out an account even though you are hedging. It inputs lot sizes that many companies would not accept for instance IBFX only allow...
  • #1,943
  • Jan 7, 2010 11:53am Jan 7, 2010 11:53am
Ok now it dont make any trade. See i like the concept of the ea and know how to implement it although it is martingale. But for that i need a ea who works on exactly that principle that the ea is written in. Ajustable stop and take profit. and where next trade must come in. Forwared orders must be set at the next entry level. then i just want an average indicator for first setup. Please help me we can make something great of this. Thanks allot and hope that you can help me because people nowdays dont want to help one another and i dont have experience of coding.

Quoting nanningbob
This code is much different than I am used to. But I think I got it. I did not test it though but there was one command I did not know and had not see before. I replaced it with what should open for any currency now. If that change did not work, I have no idea how it forces itself on one currency. Good luck.

Also I saw in this code a Martingale feature. This would be a very dangerous multiplication and could easily wipe out an account even though you are hedging. It inputs lot sizes that many companies would not accept for instance IBFX only allow...
  • #1,944
  • Jan 7, 2010 6:08pm Jan 7, 2010 6:08pm
Quoting Neller
Ok now it dont make any trade....
All my EAs I use are a martingale EA that I have adjusted and can be used that way. You just need to know enough about programming to make changes in the code. The coding is much simpler and has more features than the one you had. My Nanningbob 4H Trading system is the best multi-level system I know. My experience has shown that going more than 2 or 3 levels deep will eventually lead to an account crash or a deeply damaged account. There is always the perfect storm that will defeat any martingale setup. Using a multi level trading approach, 2.4.2 recvory system, and staying away from certain fundamental news has allowed me to be profitable over the year. So go to that thread and read my book. I also have posted a 60x90 and 180x100 EA in my 60x90 thread that using a range trading system that works well for the same reasons. So check them out but I dont recommend full fledged maringale trading except with the aud/nzd and that is because its a currency that isnt going anywhere so you dont get into really big trouble. Just gotta watch those interest rate news stories.
  • #1,945
  • Jan 11, 2010 5:51am Jan 11, 2010 5:51am
would you mind sending youre email adress or skype name to me would like to talk to you sometime

Quoting nanningbob
All my EAs I use are a martingale EA that I have adjusted and can be used that way. You just need to know enough about programming to make changes in the code. The coding is much simpler and has more features than the one you had. My Nanningbob 4H Trading system is the best multi-level system I know. My experience has shown that going more than 2 or 3 levels deep will eventually lead to an account crash or a deeply damaged account. There is always the perfect storm that will defeat any martingale setup. Using a multi level trading approach, 2.4.2...
  • #1,946
  • Jan 11, 2010 8:00pm Jan 11, 2010 8:00pm
Quoting Neller
would you mind sending youre email adress or skype name to me would like to talk to you sometime
[email protected]
  • #1,947
  • Jan 19, 2010 10:54am Jan 19, 2010 10:54am
Quoting nanningbob
Why is this hard to understand? When you match the aud/nzd with each other they are based on trades between those two countries. The exchange rate between them. That has nothing to do with trading with the USA. When the exchange rate is set between the USA and Aud that is not the same as the trading products with USA and NZD and Aus. with NZ. They are separate countries and separate currencies. How trade functions between the USA and NZ and USA with Australia is no where the same as trade between NZ and Australia. So how the currencies react and...
nanningbob...Im uniquely qualified to understand your point, Im an economist by training. However..Im NOT going to go into the math here and since its not obvious to you.. its clearly not your forte. Again ..with great respect for your contribution here..which I think is mega.. IMHO.. what you say in this case completely misses the point. The pricing of a cross MUST go through the base currency.. ie USD. No mainstream broker has a AUDNZD desk... except perhaps Westpac...Its normally done by synthisising the AUDNZD price through the $. The issues you raise in your response are very interesting but irrelevant to the pricing issue of a cross.

If you dont understand the Math.. do this experiment..
On Oanda Game ... Buy 100k AUDUSD. Then Sell 100k x (current AUDNZD price as factor) as I write 1.2507.
Then buy 100000 AUDNZD.
Leave the trades for a couple of days and calculate the relationship between the net price of the audusd/nzdusd transaction and the AUDNZD.


The issue of whether its cheaper to transact B100kAUDUSD/S125.1kNZDUSD (as I write) or 100kAUDNZD directly is be a matter of specific circumstance /broker (which is an issue I would like to raise...)..but the relationship and composition of the cross price IMHO is not.
  • #1,948
  • Jan 20, 2010 8:57pm Jan 20, 2010 8:57pm
AUD/NZD 30minutes/5minutes potential bullish formation. Setting up. Apparently the positive NZD retail sales data wasnt strong enough to push past the 1.2600 for now.

Below is the setup chart and the trigger chart. We will see how things develop subsequently. Best of luck.

ONE MORE THING: cny, that is, china, will release important economic data at 2am london time. That, will DEFINITELY affects the commodity currencies(aud, nzd, cad). Anyways, below is the setup chart(30mins) and the trigger chart(5mins). See if the pattern completes itself and provoke a trade trigger
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audnzd m30 15mins.gif Size: 25 KB
Click to Enlarge Name: audnzd m30 15mins trigger chart.gif Size: 25 KB
  • #1,949
  • Jan 20, 2010 9:14pm Jan 20, 2010 9:14pm
Intra trade management...sold 1/2 for +30 pips. Moved the second SL to the BE + 1 = 1.2621. The 2nd PT = 50 pips away at 1.2670
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd intratrade management.gif Size: 28 KB
  • #1,950
  • Jan 21, 2010 12:26am Jan 21, 2010 12:26am
final update: AUD/NZD +30, +50 pips
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd final target 30mins.gif Size: 26 KB
  • #1,951
  • Jan 21, 2010 1:54am Jan 21, 2010 1:54am
Quoting cliffedwards
nanningbob...Im uniquely qualified to understand your point, Im an economist by training. However..Im NOT going to go into the math here and since its not obvious to you.. its clearly not your forte. Again ..with great respect for your contribution here..which I think is mega.. IMHO.. what you say in this case completely misses the point. The pricing of a cross MUST go through the base currency.. ie USD. No mainstream broker has a AUDNZD desk... except perhaps Westpac...Its normally done by...
I appreciate you explaining this to me and I do understand to a point. However, to do all this with a multi level trading system going both ways (hedging buys and sells going on with three different currencies on 4 charts multi-level increasing lots as you go) would be a programing nightmare, I would think. For example, The AUD/USD may move 125 pips and the nzd/usd may move80 pips but we have a program that reenters every 30 pips and multiplies the lots at each level, I dont see how it can be done. It would be doing 4 levles on one chart but only two on the other and then you would have an imbalance. Yes your theory may work with one trade on each pair but trying to work 3 different currencies and multiple trades ???? I dont even want to think of the programming nightmare that would be and then coordinate it so both currencies would be entering and exiting at the same time. I think I am somewhat intelligent but I wouldnt even know where to begin to program such a thing. Now if you could ..................... I would be all ears. That is what I am trying to point out I think. Does this make sense to you??
  • #1,952
  • Jan 22, 2010 8:41am Jan 22, 2010 8:41am
Quoting EntropyLad
final update: AUD/NZD +30, +50 pips

Nice job!
  • #1,953
  • Jan 25, 2010 6:03pm Jan 25, 2010 6:03pm
I went back to my original 50x35 from the very beginning martingaling both directions. IBFX shuts down automatically every day the excess trades and so far the results have been interesting. Will keep you informed, we maybe back in business with this thing again. You can see the upswing where I started using the 50x35 and you can see the slow deteriation of my previous experiment. Now it is looking good again after a couple of days.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 6 KB
  • #1,954
  • Jan 25, 2010 11:40pm Jan 25, 2010 11:40pm
Great to hear it...
  • #1,955
  • Jan 26, 2010 4:24am Jan 26, 2010 4:24am
Quoting nanningbob
I went back to my original 50x35 from the very beginning martingaling both directions. IBFX shuts down automatically every day the excess trades and so far the results have been interesting. Will keep you informed, we maybe back in business with this thing again. You can see the upswing where I started using the 50x35 and you can see the slow deteriation of my previous experiment. Now it is looking good again after a couple of days.
Bob just a quick idea..

My friend and I both trade currencies together and both trade this pair. Seeing as the problem is hedging, we can get around that by him using the sell EA and my self using the buy EA ? seeing as we are both seperate entities, and both have different accounts, does this not effectively solve the hedging problem ?
  • #1,956
  • Jan 26, 2010 6:20am Jan 26, 2010 6:20am
Quoting NoNoodles
Bob just a quick idea..

My friend and I both trade currencies together and both trade this pair. Seeing as the problem is hedging, we can get around that by him using the sell EA and my self using the buy EA ? seeing as we are both seperate entities, and both have different accounts, does this not effectively solve the hedging problem ?
If you have enough funds in your account to cover both sides. You would always be selling with one account and buying in the other. When you hedge trade with one account as one gets deeper in the hole the other is knocking down profits to help cover the depth of the deficit.

What I am seeing with IBFX so far is when they close out your account every day, if you have 8 lots buy and 3 lots sell, they just cancel out the 3 lots both ways and your left with your 5 buy lots. The EA then enters a level 1 sell and you are up and running again. Now this may actually be a benefit in that you reduce your carryover everyday and that may actually help the system in a strange way. I am still trying to fully comprehend how this works and I will report now and then as I understand this and how it affects the EA.

The second way to hedge with IBFX is to have 2 accounts. (they will let you have up to 3) and do one account buys and one account sell and you can transfer funds from one account to another in a matter of minutes. This helps you keep them in balance, however, it does tie up 2 or your 3 accounts. I have thought of doing that also. The reason I quit trading this pair for a while is IBFX spreads got so big it wasnt worth it but now that they have lessened them it maybe worth my while to trade this pair fulltime again. I just want to see if doing one account is worth it or not.
  • #1,957
  • Jan 30, 2010 5:59am Jan 30, 2010 5:59am
Quoting nanningbob
If you have enough funds in your account to cover both sides. You would always be selling with one account and buying in the other. When you hedge trade with one account as one gets deeper in the hole the other is knocking down profits to help cover the depth of the deficit...

.
Bob,
What lotsize would you recommend for trading this pair both ways with $500 starting balance and 1:300 leverage,ie with a penny broker that allows hedging?

Thanks.

Charles
  • #1,958
  • Jan 30, 2010 7:58am Jan 30, 2010 7:58am
Quoting Charlyeze
Bob,
What lotsize would you recommend for trading this pair both ways with $500 starting balance and 1:300 leverage,ie with a penny broker that allows hedging?

Thanks.

Charles
Try .05, .10, .20 and that seems too small use .10 .20 .30. But that would be the only pair you are trading.
  • #1,959
  • Feb 1, 2010 9:37pm Feb 1, 2010 9:37pm
It's about time this pair really started correcting itself ...
  • #1,960
  • Feb 2, 2010 8:27am Feb 2, 2010 8:27am
Well, I went from slowly losing money to going nowhere. Here are the results of using IBFX hedging on one account. If you want to hedge you probably will need to use two accounts. I changed the numbrs in the EA and will try again. So I guess you can say I made an improvement.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 7 KB
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