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Nanningbob 60x90 EA

  • #3,761
  • Jun 21, 2011 9:55pm Jun 21, 2011 9:55pm
Here is my new rating system for volatility of pairs. I rated them from 1-6, 1 is lowest volatility and 6 is the highest. The biggest shock of this information is that the EUR pairs occupy 6 of the top 9 most volatile pairs. As this moment I would not try trading most EUR pairs because of this information. The information has been divided into two studies. Volatility based on OCT. 2008 moves and volatility based since April 2009 when most of the effects of the Oct. 2008 had finally finished. For trading 10.0 Range trading I would take the lowest 10-15 pairs to trade. Use a ratio of trading 1 nickel per 1000 dollars in the account. Now what I mean by that would be .02 cents first level and .03 second level for a total of .05 cents. Included is my test version which gained 13.5% of my account in two weeks. However, that was trading too large lots. I traded 100 dollars and trade .01 or 1 penny .02 second level great returns but no room to countertrade if there was trouble. I trade all the pairs I marked as #1-4 but no GPB/AUD or EUR/AUD. I will not trade #5 or #6 because I rate them as too volatile. Any way here is the my new currency range information and rating system.
Attached File(s)
File Type: xls RANGES OF PAIRS.xls   35 KB | 388 downloads
  • #3,762
  • Edited 10:26pm Jun 21, 2011 10:09pm | Edited 10:26pm
Here is my Range trading EA based on the 10.0 system. This is only a test version and is only compatible with 5 digit brokers for now. Inside is the EA, template, and pic of what a 1H chart should look like. The MA is based on a daily chart according to the 10.0 system. I will putting that manual out later. The lines above and below are 50pips above and 50 pips below and also 150 pips above and 150 pips below. Price enters a sell 50 pips above the main MA and enters a sell 50 pips below. The EA will automatically enter a 2nd level 100 pips after the first. You will notice that price will generally stay in those 100 pip range and the EA range of 300. If price goes outside that 300 pips range of the EA you then can reenter off of the Daily chart a third level when price crosses the blue line. This will give you your BE trade. Below is a pic of the system on the gbp usd over the last 14 days. You can see lots of successful trades and 1 trade you would have had to go to the Daily to recover on. Remember the EA is only set for 2 levels and 5 digit brokers. It is still in test mode. When I get the manual complete then I probably will start a new thread.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd pic#2 14 days.gif Size: 39 KB
Attached File(s)
File Type: zip 10.0 range trading.zip   34 KB | 458 downloads
  • #3,763
  • Jun 21, 2011 10:22pm Jun 21, 2011 10:22pm
To study about 10.0 recovery on the daily I gave some basics on my 4H thread. P. 274 posts 4107 to 4111.

http://www.forexfactory.com/showthre...46113&page=274
  • #3,764
  • Jun 21, 2011 10:31pm Jun 21, 2011 10:31pm
Sorry for the shortened version with little explanation but I have to go to Guangzhou and get my new passport. Dang its been 10 years since we started this trip to China, cant believe I have stayed here so long. I wanted some people testing this and asking some basic questions for my booklet though. Anyway I will check in later and then off to Guangzhou this evening. Have fun. Also attached are my results of 2 weeks of live testing at a penny a pip. The majority of profit is taken in the 20-50 pip range. Of the 125 trades taken only 25 were for more than 50 pips and 2 were for more than 100. I would take my profits every 4 hours to 8 hours.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 6 KB
  • #3,765
  • Jun 21, 2011 10:42pm Jun 21, 2011 10:42pm
chf jpy works like charm. Some of these lower volatility pairs just stay in that 100 pip range for weeks and weeks. Hit the line, then profit, hit the line, then profit. Nice
Attached Image (click to enlarge)
Click to Enlarge Name: chf jpy.gif Size: 46 KB
  • #3,766
  • Jun 21, 2011 11:02pm Jun 21, 2011 11:02pm
So as I understand their is no 60 pip TP with this ea? Are you able to set the ea to close when price reaches the center MA?
  • #3,767
  • Jun 22, 2011 3:18am Jun 22, 2011 3:18am
Quoting Frodog
So as I understand their is no 60 pip TP with this ea? Are you able to set the ea to close when price reaches the center MA?
You can use Steve's MPTM and set at 60. I started trying it out today on my account. Maybe I can post it later when I get home.
  • #3,768
  • Jun 22, 2011 3:53am Jun 22, 2011 3:53am
Maybe we could set a 50pip hard TP in the ea? That's a 100% re-trace for an L1 trade and we would still make a profit if both L1 and L2 were triggered. If trade doesn't make it to 50 pip TP, we could close when Sto reaches top or bottom TP area, or when price retraces to center MA. Just a thought
  • #3,769
  • Jun 22, 2011 4:59am Jun 22, 2011 4:59am
Quoting Frodog
Maybe we could set a 50pip hard TP in the ea? That's a 100% re-trace for an L1 trade and we would still make a profit if both L1 and L2 were triggered. If trade doesn't make it to 50 pip TP, we could close when Sto reaches top or bottom TP area, or when price retraces to center MA. Just a thought
The problem is a lot of brokers wont take a TP at the same time as the order from an EA. If you broker does take it, it is easy to set one up when you drag EA onto the screen, go to inputs and put the number you want in inputs. A 5 digit broker you need to put in 500 to get 50 pips because they added an extra digit.
  • #3,770
  • Jun 22, 2011 5:28am Jun 22, 2011 5:28am
Quoting nanningbob
The problem is a lot of brokers wont take a TP at the same time as the order from an EA. If you broker does take it, it is easy to set one up when you drag EA onto the screen, go to inputs and put the number you want in inputs. A 5 digit broker you need to put in 500 to get 50 pips because they added an extra digit.

Hi Bob

what are the purple lines on that template?
they dont appear on the template
rat
  • #3,771
  • Jun 22, 2011 7:27pm Jun 22, 2011 7:27pm
Quoting rattyo
Hi Bob

what are the purple lines on that template?
they dont appear on the template
The lines are 50 pips above and below the main MA line. If you have a 4 digit broker you will need to change the numbers from 500 to 50. The EAs will also not work on a 4 digit broker. I will post those after I get back from Guangzhou.
  • #3,772
  • Jun 22, 2011 8:51pm Jun 22, 2011 8:51pm
Starting recovery on GBPUSD... the idea it's to put the EA that buys and closes the sells, right? trading in the original direction.
  • #3,773
  • Jun 22, 2011 11:20pm Jun 22, 2011 11:20pm
That's correct. I think the reason Bob named the ea "open buy close sell" is because of it's use in Bobs hedge trading strategy. As far as I understand, this is the correct ea.
  • #3,774
  • Jun 23, 2011 1:25am Jun 23, 2011 1:25am
I wonder which setup would be more profitable?
A: Set a hard 50pip TP for L1 and L2 with MPTM ea. If L2 is opened, close all positions once L2 TP is reached. Use Recovery 10.0 if needed.

B: Close positions manually based on combination of Sto indicator and center MA
  • #3,775
  • Jun 23, 2011 9:28pm Jun 23, 2011 9:28pm
I close positions based on time of day or some indicator or set my MPTM to +60. I like to close trades usually just before a market open IE every 4-8 hours. I will show some pics. Yesterday on my chosen pairs I totaled 184 pips closed 2 for losses at -25. My winners were eur gbp, nzd usd, aud jpy, usd cad, nzd chf, cad jpy. My closed losers were aud cad and aud usd. I will tell you why I closed them. I have two at 2 levels gbp usd and gbp cad and a couple of others with small DD. Here are some winning trades just before I closed them. aud/jpy and usd/cad pics below.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chf jpy.gif Size: 30 KB
Click to Enlarge Name: usd cad.gif Size: 30 KB
  • #3,776
  • Jun 23, 2011 9:37pm Jun 23, 2011 9:37pm
Here are some trades I closed at no profit or small loss. One was a good profit I missed because I was gone all day. The other it went down but came back to BE and bounced of the center line. Dont want to play with DD unless I have too.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud cad.gif Size: 38 KB
Click to Enlarge Name: aud usd.gif Size: 36 KB
  • #3,777
  • Jun 23, 2011 9:49pm Jun 23, 2011 9:49pm
Good to have you back NB. I would to point that some trades were taken without touching the MA, like the buy on GBPUSD at 1.60518 (at least in my case). Do you have the same trade?
  • #3,778
  • Jun 23, 2011 10:05pm Jun 23, 2011 10:05pm
Quoting Trucomallica
Good to have you back NB. I would to point that some trades were taken without touching the MA, like the buy on GBPUSD at 1.60518 (at least in my case). Do you have the same trade?
Yes I have that trade but mine started 2 days ago and I am at 2nd level. I looked at my chart and price did not quite make it yesterday to the line. I have IBFX and I am using a live account. Are you using the same broker? My MT4 also maybe using a different start time than yours also.

I looked at that trade again and it should have taken. Are you using a 4D or 5D broker? This EA wont work on a 4D. I will post one tonight or tomorrow. Do you have the TP or SL turned on, on the EA. Some brokers wont take TP and SL along with a trade anymore. They must be a separate action. Just some thoughts
  • #3,779
  • Jun 23, 2011 10:25pm Jun 23, 2011 10:25pm
Cool, I'm using IBFX (australia) as well to learn the system, so we can talk in "time" terms. The first entry was at 61688 at 8:30 AM (that one did touch the line), the second was at 60518 at 23:32. I didn't touch the settings of the EA, so it's all default.

Also I was noticing that in USDJPY the MAs are very far away, maybe 50 pips for that pair it's to much, don't you think?
  • #3,780
  • Jun 23, 2011 11:34pm Jun 23, 2011 11:34pm
Quoting nanningbob
I close positions based on time of day or some indicator or set my MPTM to +60. I like to close trades usually just before a market open IE every 4-8 hours. I will show some pics. Yesterday on my chosen pairs I totaled 184 pips closed 2 for losses at -25. My winners were eur gbp, nzd usd, aud jpy, usd cad, nzd chf, cad jpy. My closed losers were aud cad and aud usd. I will tell you why I closed them. I have two at 2 levels gbp usd and gbp cad and a couple of others with small DD. Here are some winning trades just before I closed them. aud/jpy and...
I have been testing mptm tp50 the last couple of days. Up about 200pips, 0 floating DD. It will be interesting to compare results after a few weeks. I am trading the 11 least volatile pairs according to your report.
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