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  • #1,581
  • May 5, 2010 1:37pm May 5, 2010 1:37pm
Quoting nanningbob
I have no idea what you are talking about. Unless you multiply L1 by 10 you cant have a 2L of .10 from .01. There is no default for level 2. It is determined by the multiplication of Level 1.
Hi Bob et al, Per post #358, you mentioned that the multiple attribute only functions within the Level 1, and the L2, L3 feed off of that number?

So, you need not set the lots nor the multiple in the L2,L3 EA's? Just confirming.

Thank you!

--PS, I got everything working perfectly now.... Hopefully I won't need the L2,3 for a few days.
We are our own best indicator.
  • #1,582
  • May 5, 2010 1:54pm May 5, 2010 1:54pm
The Euro will rocket soon (let's say in 1-2 months). ECB will hike before the FED and all this huh and hoh about Greece and the other PIGS just hide the fact that the US and UK aren't in any better shape. Well time will tell but I guess the current price levels will be seen as real bargain levels in the future. It's just similar to 2005. Nothing can beat the printing press of the FED, nothing...
  • #1,583
  • May 5, 2010 1:56pm May 5, 2010 1:56pm
This is all just psychological. You must buy when there is blood on the streets - even if it's your own...
  • #1,584
  • May 5, 2010 5:08pm May 5, 2010 5:08pm
Just ate up huge losses on EURJPY cos of the state of the euro.

But even that pales in comparison with the pretty big DD I have in GBPUSD now... CRAP. serves me right for not sticking to the system
  • #1,585
  • May 5, 2010 5:15pm May 5, 2010 5:15pm
Quoting silv3r4sh
Just ate up huge losses on EURJPY cos of the state of the euro.

But even that pales in comparison with the pretty big DD I have in GBPUSD now... CRAP. serves me right for not sticking to the system
Well I did stick to the system, and 6x6EA opened a trade at 1.5157, and the trend continued downwards. Sh.. happens!
  • #1,586
  • May 5, 2010 6:17pm May 5, 2010 6:17pm
Big DD on AUD/NZS trade, and slightly down on others...will manage.

slighty down on a cpl others.

World is in a weird place right now, tread carefully.
  • #1,587
  • May 5, 2010 7:04pm May 5, 2010 7:04pm
Quoting Xaron
This is all just psychological. You must buy when there is blood on the streets - even if it's your own...
This is not psychological, there are some real serious problems in some European countries. Watch Germany to see if they will support or pull out from the EURO. I see three scenarios:

 

  1. Germany backs the Euro and is willing to support the debt of the troubled countries
  2. Germany decides that some countries need to go and the number of countries using the Euro decreases
  3. Germany decides it is better off on its own and goes back to its own currency.

  • #1,588
  • May 5, 2010 7:07pm May 5, 2010 7:07pm
I am not going to pull punches here but I am going to try to get out of this market as quickly as possible with the lowest losses I can get. This is turning into a blood bath. During super news stories (countries going bankrupt is a super news story) indicators become worthless. I thought this Greek bailout thing was settled over the weekend but it is unraveling at this point so where the market goes here to me is unpredictable. Can anyone tell me where the H........... the CHF is going and why? I can only assume it must have a lot of bad loans out there that aren't being reported.
  • #1,589
  • May 5, 2010 7:28pm May 5, 2010 7:28pm
Quoting Xaron
The Euro will rocket soon (let's say in 1-2 months). ECB will hike before the FED and all this huh and hoh about Greece and the other PIGS just hide the fact that the US and UK aren't in any better shape. Well time will tell but I guess the current price levels will be seen as real bargain levels in the future. It's just similar to 2005. Nothing can beat the printing press of the FED, nothing...
The UK is in trouble but the USA has assets where the many countries in Europe have little in assets left. They have already borrowed beyond what they are worth. The USA has the four things that will be desperately needed in the future. Food, water, its own energy supplies and is still rich in resources. However, the key is going to be how fast we can get out from an oil based economy. We will need other energy sources to sustain our level of living. The present recovery will get choked every time by the rising price of oil as its demand goes up by expanding and recovering economies. There simply is not enough to go around. This will spike the price of oil and that will stall the economic recovery. Remember price spiked to over 140 a barrel right at the economic collapse. Not many people write about this but it was a major contributing factor to this recession. First country that gets out of the oil based economic system gets to enjoy a great future. There are just too many underlying fundamental problems for this all to go away quickly.
  • #1,590
  • May 5, 2010 7:37pm May 5, 2010 7:37pm
I will do my report when I get back, before the EURO session. I have been up since 530am working on my 3 year contract with my school in China. I put up counter trades on the AUD/NZD, USD/CHF and the NZD/CHF.
  • #1,591
  • May 5, 2010 7:50pm May 5, 2010 7:50pm
well bob if you're getting out then ill be looking to do the same for as cheap as possible.
  • #1,592
  • May 5, 2010 9:36pm May 5, 2010 9:36pm
Yeah I got trades in CHFJPY now that need the pair to go north :/
It looks more and more like I've giving my earnings back to the Forex monster... gah

Quoting nanningbob
I am not going to...
  • #1,593
  • May 6, 2010 12:40am May 6, 2010 12:40am
The best thing to do is hedge NZD and CHF and come back next week. I cant do that. Soooooo .............. close everthing and take about 20% plus hit or ..................
  • #1,594
  • May 6, 2010 1:42am May 6, 2010 1:42am
all systems going for a toss , markets simply unrelenting
  • #1,595
  • May 6, 2010 3:01am May 6, 2010 3:01am
Hi Bob,

I had 6x6 EA on for eurcad and cadchf, there was a cross but ea didn't enter (the lots were correct and trading was authorized). Does the EA enter just with a cross or does it need other conditions for it to trade? (red line wasn't above or under 85 and 15)?

Thanks.
  • #1,596
  • May 6, 2010 4:21am May 6, 2010 4:21am
Quoting nanningbob
The best thing to do is hedge NZD and CHF and come back next week. I cant do that. Soooooo .............. close everthing and take about 20% plus hit or ..................
Hi BOB

Like you I have open positions USDCHF and NZDCHF deep in DD. I am going to hedge USDCHF at 1.1200 and NZDCHF at 0.8150. Fortunately forex.com UK does allow hedging. Also I think IBFX does allow daily hedging subject to positions being closed at the end of the day.

On the bright side we have had the SWISS financial figuers out this morning and they are better than expected so there may be some relief there. I just feel sorry for the people who have decided to go with NB 4h System within the last 2 weeks because they can not rely on previous gains to offset the present loss. As you know I started trading your system middle of March and since April was a fantastic month overall I am still up 10%, however, if we did not have had this mess with the European crisis it would have been 45%!

Kind regards
  • #1,597
  • May 6, 2010 5:07am May 6, 2010 5:07am
That's right astral, those who did not start the system earlier are in a bad way.. myself, pretty bad but not too bad - though I've given back all the profits I made in April :/

I really hate the GBPUSD, it's plummeting and its killing me softly
Damn election.. guess I shudve read news stories?? Read that if labour doesnt win, then the pound will regain strength so for the first time in my life I'm taking a personal interest in UK politics!!!

Quoting astral77
Hi BOB

Like you I have open positions USDCHF and NZDCHF deep in DD. I am going to hedge USDCHF at 1.1200 and...
  • #1,598
  • May 6, 2010 5:34am May 6, 2010 5:34am
Quoting silv3r4sh
That's right astral, those who did not start the system earlier are in a bad way.. myself, pretty bad but not too bad - though I've given back all the profits I made in April :/

I really hate the GBPUSD, it's plummeting and its killing me softly
Damn election.. guess I shudve read news stories?? Read that if labour doesnt win, then the pound will regain strength so for the first time in my life I'm taking a personal interest in UK politics!!!
I am not too sure about your analysis. Up to the remake of the Labour party as new labour they were very left wing. Now they are more centre ground. The real lefties now are the Liberal democrats. They advocate an interventionist policy and going after the banks and putting a lot of restrictions on the BANKS and financial institutions.
As you may know UK economy is totally reliant on financial sector and manufacturing is non existent. If the government makes life hard for the banks they would just relocate. They saying in the City of London is "Dubai, Shanghai, Mumbai or GOOD BYE". As much as I hate the greedy money grabbing SOBs they are a necessary Evil I am afraid. As for the conservatives, they advocate very tight monetary controls and taking a lot of money out of the economy which may result in double dip recession. I hate to say this but maybe Labour is the best chance for the economy.

Kind Regards
  • #1,599
  • May 6, 2010 5:35am May 6, 2010 5:35am
Quoting silv3r4sh
That's right astral, those who did not start the system earlier are in a bad way.. myself, pretty bad but not too bad - though I've given back all the profits I made in April :/

I really hate the GBPUSD, it's plummeting and its killing me softly
Damn election.. guess I shudve read news stories?? Read that if labour doesnt win, then the pound will regain strength so for the first time in my life I'm taking a personal interest in UK politics!!!
Dont beat yourself up too much. I have not seen the market move like this since Oct. 2008 and on a smaller scale the last 2 weeks of December. Again the key is to get our or break even with as little damage as possible. You obviously feel better getting out using profits so bye bye April but that is better than the old days when you put money into an account and you started losing right out of the box.

I signed my 3 year contract on the building for my school and that has taken up all my day. So now I have to get back to my mess and see what I can salvage from all these trades.
  • #1,600
  • May 6, 2010 5:50am May 6, 2010 5:50am
The vote on the bailout is later today and it's expected to pass so things may turn around and retrace.
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