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Sixths trading - an EA by macman, Bob and Steve mk 2

  • #81
  • Nov 3, 2010 2:54pm Nov 3, 2010 2:54pm
When u drop below the 100% margin level, typically largest losing trade is closed. Repeats every time u drop below 100%
  • #82
  • Nov 3, 2010 2:58pm Nov 3, 2010 2:58pm
Quoting tazmaan
When u drop below the 100% margin level, typically largest losing trade is closed. Repeats every time u drop below 100%
yes but at only $-10 dollars what else contributes to 'using up' my margin? Should still have $107 dollars to play with not hitting margin calls at only $-10? Don't understand that to well.
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #83
  • Nov 3, 2010 3:17pm Nov 3, 2010 3:17pm
Quoting matrixebiz
Can someone explain to me how this stupid margin call works with IBFX. you can see by the pic, I'm only $-10 but account is in margin call status. Missing something here, where is all the margin being used?

That 3rd trade at 0.3lots and not 0.03 lots could explain the call.

Assuming a mini account with a leverage of 50:1

for a xxxUSD
Standard Lot * Quote * LotSize/Leverage

10000 * 1.41016 * .3 / 50 = $84

add that to the other 2 trades, yes the margin call would have happened
  • #84
  • Nov 3, 2010 3:24pm Nov 3, 2010 3:24pm
Quoting matrixebiz
Can someone explain to me how this stupid margin call works with IBFX. you can see by the pic, I'm only $-10 but account is in margin call status. Missing something here, where is all the margin being used?
Sure hope that isn't a live account even if its only 100 bucks. You shouldn't even be overleveraging...
  • #85
  • Nov 3, 2010 4:46pm Nov 3, 2010 4:46pm
Hope everybody was able to get out of their GBP/CHF trades this afternoon on the retrace as I did.
  • #86
  • Nov 3, 2010 4:53pm Nov 3, 2010 4:53pm
Quoting Toothman
Hope everybody was able to get out of their GBP/CHF trades this afternoon on the retrace as I did.

Not been trading the CHF pairs, but I should imagine most people clawed back their losses.

I am getting raped on the jpy pairs now - Ahhhhhhh!
  • #87
  • Nov 3, 2010 4:58pm Nov 3, 2010 4:58pm
Quoting Tread
That 3rd trade at 0.3lots and not 0.03 lots could explain the call.

Assuming a mini account with a leverage of 50:1

for a xxxUSD
Standard Lot * Quote * LotSize/Leverage

10000 * 1.41016 * .3 / 50 = $84

add that to the other 2 trades, yes the margin call would have happened
Ok, so even though the trade is only $-5 dollars it does this Standard Lot * Quote * LotSize/Leverage calculation and will close it? crazy
Ok thanks for the info
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #88
  • Nov 3, 2010 4:59pm Nov 3, 2010 4:59pm
Quoting obnoxious2
Sure hope that isn't a live account even if its only 100 bucks. You shouldn't even be overleveraging...
No it's not, I would not actually use IBFX anymore.
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #89
  • Nov 3, 2010 8:45pm Nov 3, 2010 8:45pm
Quoting Viv108
Not been trading the CHF pairs, but I should imagine most people clawed back their losses.

I am getting raped on the jpy pairs now - Ahhhhhhh!
The CHF pairs got back into line, but overall I'm in a worse situation. I'm trading 11 pairs in demo. Of those, two have no trades going, seven are in recovery needing anywhere from 70 to 307 pips to breakeven, and two are in drawdown on their first primary trades.

Now, since starting the Beast just over a month ago, on a 10K demo, I've banked $2495 on my balance, and am sitting on $2115 in drawdown (which was $2400 in drawdown just a couple of hours ago).
  • #90
  • Nov 4, 2010 2:35am Nov 4, 2010 2:35am
i can totally relate to that, to date a profit of $341 but with a current DD of $300
damnation

Quoting duffypratt
The CHF pairs got back into line, but overall I'm in a worse situation. I'm trading 11 pairs in demo. Of those, two have no trades going, seven are in recovery needing anywhere from 70 to 307 pips to breakeven, and two are in drawdown on their first primary trades.

Now, since starting the Beast just over a month ago, on a 10K demo, I've banked $2495 on my balance, and am sitting on $2115 in drawdown (which was $2400 in drawdown just a couple of hours ago).
  • #91
  • Nov 4, 2010 4:14am Nov 4, 2010 4:14am
Anyone else in some serious DD..?

I am trading 1 lots on a 100K account (demo of course - if i had that kind of money I wouldnt be on this forum - I'd be in Soho have a great time).

I'm about 10K in DD.. losing what I made in 2 weeks. Bloody JPY pairs...

Scoob.. can you organise some JPY buyers?
  • #92
  • Nov 4, 2010 4:37am Nov 4, 2010 4:37am
Quoting Viv108
Anyone else in some serious DD..?

I am trading 1 lots on a 100K account (demo of course - if i had that kind of money I wouldnt be on this forum - I'd be in Soho have a great time).

I'm about 10K in DD.. losing what I made in 2 weeks. Bloody JPY pairs...

Scoob.. can you organise some JPY buyers?
Similar here. It seems a lot of people are back to BE or below. I am having a similar issue with NB6 and a couple of other systems.

By the way where is Scoob? I don't think he's been around for a long time?
  • #93
  • Nov 4, 2010 4:42am Nov 4, 2010 4:42am
I can assure you... you guys don't even wanna know about my DD.
On my live account

I just closed my platform and only read the daily report from Alpari... that would be enough for my daily depression dose... Bernanke forever...

All will be fine someday!
"The only successful substitute for brains is silence."
  • #94
  • Edited 5:41am Nov 4, 2010 5:03am | Edited 5:41am
correction: current DD of $413
whooppee

Quoting silv3r4sh
i can totally relate to that, to date a profit of $341 but with a current DD of $300
damnation
  • #95
  • Nov 4, 2010 5:42am Nov 4, 2010 5:42am
My DD is huge too... ;( I hope it will recover
Pavel
  • #96
  • Nov 4, 2010 7:08am Nov 4, 2010 7:08am
This is a trend that will continue on in a tighter range for the next few weeks to months. USD is very weak now and all other currency pairs are basically reacting to it. As with all trading systems, it is best to turn off trading an hr before and a couple hrs after major news annoucements. Something that works great for 3 weeks but then a major news release kills all made profit.
  • #97
  • Nov 4, 2010 8:43am Nov 4, 2010 8:43am
If anyone knows of any organization which gives a prize to the most idiotic behavior can you kindly let me know. I would like to apply. Despite being warned by our friends here at the FF regarding the big QE news and other fundamental factors I forgot to turn off my EAs and as a result I am in DD territory across the board. At first I thought I had offended the Gods of Forex by being cocky but then I realized that it was the case of my own idiocy. I hope people read this and take note.

Till yesterday my highest DD with this BOT was around 200 pips now it is around a 1000. I am going to hedge the trades I have and turn off the EA and wait a few days before deciding what to do. Needless to say if there was just a bit of diligence on my part there would have been no need for this.

Kind Regards
  • #98
  • Nov 4, 2010 9:43am Nov 4, 2010 9:43am
Quoting obnoxious2
This is a trend that will continue on in a tighter range for the next few weeks to months. USD is very weak now and all other currency pairs are basically reacting to it. As with all trading systems, it is best to turn off trading an hr before and a couple hrs after major news annoucements. Something that works great for 3 weeks but then a major news release kills all made profit.
If I had turned off the Beast for yesterday's news, I would have spared myself several trades and about $700 of my drawdown. But on a US account, I don't know of any way to turn off the live trades before the news. I can't hedge. I suppose I could have closed all trades an hour before the news came out. That would certainly put my demo in a better spot than it's in now.

FWIW, overnight I went from being $300 net positive on my 10K demo (already down about $1000 from the beginning of the week), to being -$800 negative since the beginning of October.
  • #99
  • Nov 4, 2010 2:11pm Nov 4, 2010 2:11pm
I made the same foooolish mistake!

Next time, i will refrain from trading the whole week on which the FOMC are to announce.

What a foolish thing I did. I also think its best to stick to the 5 majors and the JPY.
  • #100
  • Nov 4, 2010 6:59pm Nov 4, 2010 6:59pm
My dd continues to oscillate between un-nice and even more un-nice. Hey ho. It could be worse. I could be a UK 16 year old contemplating whether I can afford to have my post 16 course lead to university study here in the UK.

I did have one Recovery pair close at a minimal loss earlier - a couple oc chfjpy buys - so a positive result there, of sorts.

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