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Nanningbob 60x90 EA

  • #3,421
  • Apr 30, 2010 12:18pm Apr 30, 2010 12:18pm
Anyone else wondering what to do NZD trades? I've closed everything else but them. DD on them has reduced by 50% in the last hour or so; wondering if I should close loss now or if this will be a significant retrace.
  • #3,422
  • Apr 30, 2010 2:07pm Apr 30, 2010 2:07pm
Quoting jay320
Anyone else wondering what to do NZD trades? I've closed everything else but them. DD on them has reduced by 50% in the last hour or so; wondering if I should close loss now or if this will be a significant retrace.
Yeah, I'm looking at the same thing on my M30 demo of NZD/USD. Funny thing is if I had set max trades to 6 I would be out of them right now as the trades went to level 5 (my current limit) and then went on to level 6 then retraced back to the entry at level 5.. so if I had max trades 6 it would have closed out all of them at a profit.

Instead I'm now looking to sit on them over the weekend and see where the trades go this sunday. Regardless, the markets close in an hour, and I'm extremely happy with the results for the week.

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I'd love to see others results so far.
  • #3,423
  • Apr 30, 2010 2:50pm Apr 30, 2010 2:50pm
All the NZD pairs are at a perfect sell point for my 4H system so it says hang on for now. Sell signal RWB above 85, Gold line, and Swingman's reversal indicator says sell, so ready to ride. You can see my 2L counter trade I put on there.
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  • #3,424
  • Apr 30, 2010 2:59pm Apr 30, 2010 2:59pm
Quoting Zurathustra
Yeah, I'm looking at the same thing on my M30 demo of NZD/USD......

I'd love to see others results so far.
If you often go beyond 3-4 levels i would think about adjusting how many bars it goes back to spread it out a bit. Going to level 6 means taking out an order 32 times (!) the size of the original. For me that's way too much risk--at any starting lot size.

I don't have a fancy image of my results, but from monday 4/19 to today my GROSS return on the account is 12%. That doesn't reflect my current draw down, however, and I'm reticent to get giddy before I see how holding my NZD trades over the gap does. I'm starting to wish I closed perhaps one of them before the bell.
  • #3,425
  • Apr 30, 2010 3:17pm Apr 30, 2010 3:17pm
I want to show you the danger of trading on lower TF and why I ended up on the 4H chart for this type of trading. The blue lines are the lines drawn on the 30M chart. Notice how little range it covers. Weeks 2,3,4 ago were outside this range and this week price went completely out of range from start to finish. There simply is not enough room to range trade a 30M chart. Martingaling more and more levels will only lead to a wipeout scenario on a big news story. This NZD run is only 230 pips and he is talking 6 levels, imagine if it had been 400-500 pips, he would be in deep doodoo. Trading a 4H chart your only beginning the 3rd L and still have lots of room to trade around a big move. That is the difference and this is not a volatile currency. You can imagine what would happen if the GBP/USD goes on one of its 6-800 pip runs which are much more common. 4H chart gives you the room to trade around the runners, 30M does not. Notice the difference between the blue lines which are the 30M chart and the lines on the 4H chart Red,white lines. The 2nd pic is my live account chart I have entered my third level and only need 42 pips to break even. I think that is a very safe trade at this point. I can close out at break even and then go back to a single level trade for my profit. The bottom line is even now I could close all levels for a loss but it would not damage my account much. I have posted enough winnings to cover this trade if I wanted too. There is nothing wrong with taking occasional losses to prevent further trouble. If I closed now and reentered at L1 the overall trade would be a loss but my stress level would be low.
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  • #3,426
  • Apr 30, 2010 3:27pm Apr 30, 2010 3:27pm
If the above trade continues to go against me. I can turn off the EA and close my 1L trade for a loss and try to zero out the other 3L when I enter a 4L. You would try to recover with a minimal loss. 6L recovery is a sink or swim scenario. 2.4.2 recovery is taking a loss and going on. You dont suffer the deep account damage.
  • #3,427
  • Apr 30, 2010 3:33pm Apr 30, 2010 3:33pm
OH by the way I love Z EA and Pioteks also. Both have tested out to work very well. The only thing I want to do to both of them is expand the lines a bit to give me more range. Closer to my input range. I will test out I am That pending order EA next week to see how it is doing. I can also see adding a tight MA cross on this also to help with entrances. Here is a 3MA line. When the bid crosses the MA line you enter. This trade would be L1 and just starting. It filtered out the runner.
Attached Image (click to enlarge)
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  • #3,428
  • Apr 30, 2010 3:38pm Apr 30, 2010 3:38pm
You can see the trades with a 3MA filter. I put arrows where price would still be above/below the green B lines and price would cross the 3MA line. You would have had only 1 trade go 2nd level. This would work very similar to IAMTHAT pending order EA except it would get in earlier into the trade most of the time. Might miss some trades his would get though.
Attached Image (click to enlarge)
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  • #3,429
  • Apr 30, 2010 5:03pm Apr 30, 2010 5:03pm
Hmm, were seeing two different things on the NZDUSD, but only because of our personal perceptions.

For instance I am 5 levels on a 124 Pip run, each level was roughly 22 Pips apart, and each TP was only 16 Pips. If I had not limited my Max Trades to 5 I would have been out of the NZDUSD trade a while ago, there was a 26 Pip retrace between 13:00 and 14:00 that would have closed my trades out.

However you are seeing a 230 Pip run on the H4, so like you said , you are working with a much larger range making your entry's and TP's larger and further apart. I'm looking for a lot of "small" retracements, which occur a lot more frequently then the larger retracements needed for the H4. Being 5 levels deep on an H4 timeframe would be a cause for alarm since the levels tend be 50+ pips apart, sometimes as much as 100 Pips.

However, my NZDUSD trades are:
1st 0.01 Lots, -7.50, -75 Pips
2nd 0.02 Lots, -11.20, - 56 Pips
3rd 0.04 Lots, -13.60, -34 Pips
4th 0.08 Lots, -12.80, -16 Pips
5th 0.16 Lots, +9.60, +6 Pips

For a net loss of $35.50, which is hardly a dent in the $671.64 profit for the week, assuming I had decided to close them out before the market closed.

I personally feel this system is viable on the M30 simply becuase there are a lot of small retracements that I'm taking advantage of, that would be missed on the H4. I will continue to run this EA on this demo account for the next month to see where it goes.

Also I will continue to join you in warning people about the use of Martingaling. I cant stress enough that there is a MAJOR danger of blowing your account if you dont have enough margin to cover the trades your in. It should be noted that I'm using a $10,000 demo account to run this test. The largest margin requirement I have seen so far for the active trades was over $2500. Attempting to run this live with the settings that I'm using could very well lead to blown account.
  • #3,430
  • Apr 30, 2010 9:36pm Apr 30, 2010 9:36pm
Quoting Zurathustra
Hmm, were seeing two different things on the NZDUSD, but only because of our personal perceptions.

For instance I am 5 levels on a 124 Pip run, each level was roughly 22 Pips apart, and each TP was only 16 Pips....
You obviously are an experienced trader and can trade that way. If I was home all day maybe I could too. But I am not. I often work 10-12 hour days and am not around to handle trading like that. I would not recommend trading this way with all the newbies who follow this thread and are trying to learn forex trading. Anyway I understand your logic and I dont consider it faulty, I believe you would know when to bail on a trade if it got too bad. Too may people trading do not. So good luck and thank you for all your contributions, I do respect your knowledge and ability to trade. I love your EA and I have gotten it to draw lines very close to the manual EA I was using, so I am very happy with it. Thanks. I will be using it on my live account starting Monday but on the 4H chart. Just to confim, if I change TF it also changes to the TF so I need to turn off the EA if I want to check the 1H or Daily charts. Is that correct??
  • #3,431
  • Apr 30, 2010 9:53pm Apr 30, 2010 9:53pm
My initial testing IamTHAT's stop EA has been mixed.

The first time i turned it on I came back a couple of hours later and there were several orders open--not pending. In addition, about half of the pairs had orders placed that were not on the lines drawn on the chart. However, I'm not 100% certain if I had initiated the EA when the prices on some pairs were already above the line.

So I closed all the orders and reset the EA's settings, this time with larger "stopgap" inputs.

When I ran it again, it properly took out a buy stop EUR/GBP when it crossed the A line. It seemed like a good start, but oddly no more orders were opened despite several crosses of the A lines overnight by other pairs. For E/G, however, it worked just like planned... the price retraced and was in profit when I woke up.

I will say that i didn't restart my platform after the first test so I will be sure to do that when i continue my testing on monday...

-J
  • #3,432
  • Edited May 1, 2010 2:06am Apr 30, 2010 11:25pm | Edited May 1, 2010 2:06am
Quoting jay320
My initial testing IamTHAT's stop EA has been mixed.

The first time i turned it on I came back a couple of hours later and there were several orders open--not pending. In addition, about half of the pairs had orders placed that were not on the lines drawn on the chart. However, I'm not 100% certain if I had initiated the EA when the prices on some pairs were already above the line.

So I closed all the orders and reset the EA's settings, this time with larger "stopgap" inputs.


-J
I too had this problem initially and I thought it could be due to magic number. Coding is too simple to cause any problem and StopGap value has no bearing on EA logic.
EDIT:
I have a traced a problem now in this EA with the counting of open orders which excluded pending orders! I have rectified it now hopefully this should fix it. I have added Piotek's version also for those interested.
Attached File(s)
File Type: mq4 Sixth Screen EA v3.2z-StopOrders.mq4   24 KB | 440 downloads
File Type: mq4 4H-sixth-EA-ver3-StopOrders.mq4   21 KB | 431 downloads
"Put all your efforts in becoming effortless"
  • #3,433
  • Apr 30, 2010 11:34pm Apr 30, 2010 11:34pm
Quoting nanningbob
You can see the trades with a 3MA filter. I put arrows where price would still be above/below the green B lines and price would cross the 3MA line. You would have had only 1 trade go 2nd level. This would work very similar to IAMTHAT pending order EA except it would get in earlier into the trade most of the time. Might miss some trades his would get though.
Bob, I see you point and I was thinking of thinking of having this option also. One more possibility is using 3MA HIGH & LOW cross for top and bottom. I should check whether gives better entries. Anyway, I am truly impressed with this system which almost gives perfect entries.
"Put all your efforts in becoming effortless"
  • #3,434
  • Apr 30, 2010 11:55pm Apr 30, 2010 11:55pm
Quoting IamTHAT
Bob, I see you point and I was thinking of thinking of having this option also. One more possibility is using 3MA HIGH & LOW cross for top and bottom. I should check whether gives better entries. Anyway, I am truly impressed with this system which almost gives perfect entries.
The market ranges 70-80% of the time so this is perfect for that. Only 2 levels deep so if you get caught in a runner you cant get out without deep DD. I set a SL of -100 on Pioteks EA and he still came in with a decent profit even though it was not spectacular like the others however DD is nothing with that. I will test that some more and see what happens. I love the 2L levels deep. I even did close 1st L when I enter 3L and that had decent returns also. NO serious DD doing that one. Only time will tell but I think we all can see this is a winner. Avoid the super news stories and we should be constantly profitible with this one. A little leary with the 30M usage but if your experienced trader and can read trouble I can see how that would be very profitable. So you get a guy who trades trendlines and I can see this doing well. It is a matter of what you want to use for a trendline. 3MA or a 6 MA. I think both have their advantages.
  • #3,435
  • May 1, 2010 12:01am May 1, 2010 12:01am
Guys my wife and I are gone for the weekend, holiday here in China, be back Tuesday.
  • #3,436
  • May 1, 2010 11:16pm May 1, 2010 11:16pm
Quoting IamTHAT
I have rectified it now hopefully this should fix it....
Thanks, Ganesh. I'll begin testing tomorrow at 5.
  • #3,437
  • May 2, 2010 2:27am May 2, 2010 2:27am
Quoting nanningbob
OH by the way I love Z EA and Pioteks also. Both have tested out to work very well. The only thing I want to do to both of them is expand the lines a bit to give me more range. Closer to my input range.
I've added RangeMultiplier which allows one to widen / shorten price range that was originally calculated. You should use something like 1.05 or 1.1 to match yours.

Oh, btw: it's Piotrek, with "r"
Attached File(s)
File Type: mq4 4H-sixth-EA-ver3-StopOrders-v2.mq4   21 KB | 295 downloads
  • #3,438
  • May 2, 2010 2:58am May 2, 2010 2:58am
Quoting piotrek_FX
I've added RangeMultiplier which allows one to widen / shorten price range that was originally calculated. You should use something like 1.05 or 1.1 to match yours.

Oh, btw: it's Piotrek, with "r"
I am sorry about misspelling your name. Interesting about adding the range multiplier. I was using fractional to match up the lines to what I used in top to bottom screen. Instead of dividing by /6 I changed it to /5.6 and the lines matched up pretty close. I will take a look at that when I get back.

Tonight's menu:

smoked fish with crushed black pepper. Fresh clams and oysters, about 10 different varieties, fresh baked European styled bread with a full array of fixings. Chocolate and white chocolate fountain to dip fresh fruit in and .................. well that is about 10% of what's offered here. Wanna really good place to eat for about 25 USD come to Nanning be glad to treat ya. Oh sorry ..................... go back on vacation Bob and dont bug these poor starving guys here.
  • #3,439
  • May 2, 2010 5:20am May 2, 2010 5:20am
adding Nanning to my "places I should visit at some point in my life" list....

Enjoy your weekend Bob! It's well deserved.

btw, to practice my programming skills I've been working on a different ea that may also work with the sixths indicator, I'll let you all know if something useful comes of it. I'll test it on a demo account this week...
  • #3,440
  • May 2, 2010 6:31pm May 2, 2010 6:31pm
Hi,

Can someone point me to the recovery system and its documentation on how to use it. I think i might have to use it on my NZD pairs.

Thanks
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