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Trading aud/nzd successfully

  • #1,961
  • Feb 2, 2010 8:29am Feb 2, 2010 8:29am
Imagine winning 80% of the time and going no where with the profits.

Total Trades:175
Short Positions (won %):84 (100.00%)
Long Positions (won %):91 (61.54%)
Profit Trades (% of total):140 (80.00%)
Loss trades (% of total):35 (20.00%
  • #1,962
  • Feb 2, 2010 10:48am Feb 2, 2010 10:48am
Quoting Schminner
It's about time this pair really started correcting itself ...
I will second that thought. finally its moving down
  • #1,963
  • Feb 3, 2010 11:29pm Feb 3, 2010 11:29pm
being Australian ive always thought it would be a good idea to trade AUDNZD.. lots of good information in here, going to take me a while to get through, thanks all!
  • #1,964
  • Feb 4, 2010 2:50am Feb 4, 2010 2:50am
Quoting RoyalTrader
being Australian ive always thought it would be a good idea to trade AUDNZD.. lots of good information in here, going to take me a while to get through, thanks all!
My theory is, it is an easy currency to trade and price action wont get away on you if you are on the wrong side of the trade. In other words you really shouldnt get any big losses on this pair unless you get caught on the wrong side of a super major news story. Today's story was a nice move but its legs are short. That is my experience with this pair.
  • #1,965
  • Feb 5, 2010 6:45pm Feb 5, 2010 6:45pm
I change the EA to a straight Martingale 6 levels deep. 2.0 multiply using 35x50 buy on one chart and sell on the other. This is IBFX. We maybe back in the game with them again. Will continue testing but this EA worked great in the past so maybe we can do it again. You can see the difference from the news story. Lots will be .01, .02, .04, .08, .16, .32 Range of the EA will be 6x35 or 210 pip range. That should work the vast majority of the time. You then watch out for interest rate change stories.
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  • #1,966
  • Feb 10, 2010 8:53am Feb 10, 2010 8:53am
Other than IBFX, what brokers are you folks using to trade this EA with? I've tried Jadefx, OneCorp, and it won't place trades on those, with or without sl and tp values. I've tried it on IamFX and Go Markets, and it trades after I set the sl and tp to zero.

Are there any brokers besides IBFX that this EA will trade on as is?
  • #1,967
  • Feb 10, 2010 5:26pm Feb 10, 2010 5:26pm
Quoting sevenjones
Other than IBFX, what brokers are you folks using to trade this EA with? I've tried Jadefx, OneCorp, and it won't place trades on those, with or without sl and tp values. I've tried it on IamFX and Go Markets, and it trades after I set the sl and tp to zero.

Are there any brokers besides IBFX that this EA will trade on as is?
The EAs are set at .01 or one penny for IBFX micro accounts. Many brokers dont take .01 lots so change it to .10 and see if that works.
  • #1,968
  • Feb 11, 2010 1:57am Feb 11, 2010 1:57am
hi nan i want to know i want something and hope that you can help me i realy need help and only know of you that can help me for someone with youre knowledge it would be easy. go check out this thread http://www.forexfactory.com/showthre...03#post3453903 thanks allot

Quoting nanningbob
The EAs are set at .01 or one penny for IBFX micro accounts. Many brokers dont take .01 lots so change it to .10 and see if that works.
  • #1,969
  • Feb 11, 2010 2:47am Feb 11, 2010 2:47am
Quoting Neller
hi nan i want to know i want something and hope that you can help me i realy need help and only know of you that can help me for someone with youre knowledge it would be easy. go check out this thread http://www.forexfactory.com/showthre...03#post3453903 thanks allot
I am finishing version 3 of my trading system. I will look at that after I am done with this. I hope to be done by Saturday. I glanced at it quickly and it seems doable.
  • #1,970
  • Feb 11, 2010 4:34am Feb 11, 2010 4:34am
Thanks allot will you post you post youre new version of youre trading system here

Quoting nanningbob
I am finishing version 3 of my trading system. I will look at that after I am done with this. I hope to be done by Saturday. I glanced at it quickly and it seems doable.
  • #1,971
  • Feb 11, 2010 5:27am Feb 11, 2010 5:27am
For brokers, like Go Markets, that you have to remove the stop loss and take profit values to get this EA to trade on them, is there any automated program that will add the s/l and t/p after the trades are placed so you won't have to go in and do that manually?

Anyone know of such?
  • #1,972
  • Feb 11, 2010 9:41am Feb 11, 2010 9:41am
Quoting sevenjones
For brokers, like Go Markets, that you have to remove the stop loss and take profit values to get this EA to trade on them, is there any automated program that will add the s/l and t/p after the trades are placed so you won't have to go in and do that manually?

Anyone know of such?
This one will do a lot. I will be including it in my ver.3 4H trading system. It is called the multi-purpose trade manager.

http://www.forexfactory.com/showthread.php?t=89371

Go to post one for the most updated version and read the thread on how to use it.
  • #1,973
  • Feb 11, 2010 2:44pm Feb 11, 2010 2:44pm
Quoting nanningbob
This one will do a lot. I will be including it in my ver.3 4H trading system. It is called the multi-purpose trade manager.

http://www.forexfactory.com/showthread.php?t=89371

Go to post one for the most updated version and read the thread on how to use it.
Appreciate it Bob.

Does it matter what leverage this EA is run on?
  • #1,974
  • Feb 11, 2010 5:19pm Feb 11, 2010 5:19pm
Quoting sevenjones
Appreciate it Bob.

Does it matter what leverage this EA is run on?
You should be able to answer this question yourself before you're thinking about using EAs and trading real money. Otherwise your are lacking alot of basic trading knowledge.
  • #1,975
  • Feb 11, 2010 5:45pm Feb 11, 2010 5:45pm
Quoting sevenjones
Appreciate it Bob.

Does it matter what leverage this EA is run on?
It depends on how much you carry in your account, for example if you play .10 (ten cents) on 500 dollars at 400:1 you would need 2000 dollars to play .10 (ten cents) at 100:1 and with the new rules .10 would need 20,000 at 10:1. That is how leverage affects your trading. I am a strong advocate of high leverage for beginners so they can play .01 per lot at 400:1 and learn this business using 2-400 dollars. I call this their tuition money. Then when you are a decent trader you go to lower leverage and higher lots but you need larger amount of funds to be a serious trader. The new rules will make it very expensive for a new trader to learn the business. I know I wouldnt not have stayed in if I couldnt have learned at 400:1 and a couple of hundred bucks. To me the cost of tuition (the learning phase) would have been too high. That is the one thing missing in every argument about leverage. The anti-leverage advocates completely miss the logic of the cost of learning this business. The higher the leverage, the less money you risk, the cheaper your education. Thats my point. They argue the lower the leverage, the less you risk, but that does not hold true for the beginner. Whether he has 100, 1000, 100,000 in his account, he will lose money, the difference is at 400:1, his original amount of funds is much much less thereby saving him money while he learns. His 500 bucks is his ultimate stop loss. He cant lose more than that. If he has to use 20,000 at 10:1, well you get the point. If you dont, you never will.
  • #1,976
  • Feb 11, 2010 5:47pm Feb 11, 2010 5:47pm
Quoting TJPLD
You should be able to answer this question yourself before you're thinking about using EAs and trading real money. Otherwise your are lacking alot of basic trading knowledge.
I did not want to step on your toes in my previous answer but you are 100% correct. If you dont understand leverage, margin, and total amount of funds you need to trade with, you should not be trading with live money. So I agree with your statement.
  • #1,977
  • Feb 18, 2010 12:13pm Feb 18, 2010 12:13pm
Damn, this pair needs to take another plunge again ...
  • #1,978
  • Feb 18, 2010 3:59pm Feb 18, 2010 3:59pm
Well, I guess I got what I asked for, then it shot back up 100 pips in a few seconds .... at least it hit my TP before going back up to the moon ...
  • #1,979
  • Feb 19, 2010 7:21am Feb 19, 2010 7:21am
Hi Bob

I'm using your 30x20 buy sell EA 5M 120MA, you are absolutly correct w.r.t leaverage and equity amount, I had to learn that the hard/expensive way, which could have been much more.
Q: how can I convert this to MT5, when that become the standard.
  • #1,980
  • Feb 19, 2010 9:05am Feb 19, 2010 9:05am
I have almost given up on this pair, it only goes up never down. I am still stuck with aud/nzd positions robominer got me into in Oct 08. Donna Forex last time I checked had $31,000.00 of DD and now it must be $38,000.00.
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