Milking 4 pairs AUD/NZD, EUR/GBP,NZD/CAD & AUD/CAD for a living | Forex Factory

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Attachments: Milking 4 pairs AUD/NZD, EUR/GBP,NZD/CAD & AUD/CAD for a living
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Milking 4 pairs AUD/NZD, EUR/GBP,NZD/CAD & AUD/CAD for a living

  • #1
  • First Post: Edited Oct 21, 2015 5:29am Oct 20, 2015 1:34pm | Edited Oct 21, 2015 5:29am
Objective : Milking 4 pairs AUD/NZD,EUR/GBP,AUD/CAD,NZD/CAD for a living

Why these 4 pairs : These don't have direct USD exposure coupled with low ADX daily ranges and low volatility

Challenge : To Make 10% monthly consistently on these 3 pairs with minimal DD

What trading system to be used : Mechanical or Technicals or Fundamentals

Expected DD Max : floating 10-20

​Is there any trader interested and ready for the challenge (or) perhaps already taking advantage of these 4 pairs to make a living...
Scoobi doobi doo
  • #2
  • Oct 20, 2015 1:57pm Oct 20, 2015 1:57pm
I have devised a mechanical trading system mechanism to meet the above objective by cost averaging these pairs with fixed lots / intervals and keep taking smaller $$ routinely also keeping in mind not build a big DD. My 2 cents.

I can talk about it by demonstrating the method before that would like to hear from other folks for whom its an hunting ground making merry on trading these pairs specifically..
Scoobi doobi doo
  • #3
  • Oct 20, 2015 2:11pm Oct 20, 2015 2:11pm
AUD/NZD Historical data last 1 month sample trading ranges :

Attached Image (click to enlarge)
Click to Enlarge Name: anzd.JPG Size: 99 KB


AUD/CAD Historical data last 1 month sample trading ranges :

Attached Image (click to enlarge)
Click to Enlarge Name: acad.JPG Size: 86 KB


EUR/GBP Historical data last 1 month sample trading ranges :

Attached Image (click to enlarge)
Click to Enlarge Name: egbp.JPG Size: 103 KB
Scoobi doobi doo
  • #4
  • Oct 20, 2015 2:20pm Oct 20, 2015 2:20pm
Ok folks , it seems traders are busy trading US session. Well If someone interested can provide a test mt4 trading account here will setup the trading system as I told its mechanical model and self explanatory WYSWIG(What You See What I Get) no rocket science whatsoever .
Scoobi doobi doo
  • #5
  • Oct 20, 2015 2:25pm Oct 20, 2015 2:25pm
NZD/CAD is another good pair to trade that is similar to those. I've had some recent success shorting it as I though it started getting a little frothy in the high 0.88's.
  • #6
  • Edited 2:37pm Oct 20, 2015 2:27pm | Edited 2:37pm
Quoting thadakman
NZD/CAD is another good pair to trade that is similar to those. I've had some recent success shorting it as I though it started getting a little frothy in the high 0.88's.
Thadakman NZD/CAD made a quarterly highs today over 0.89 and fell to 0.87xx after profit taking owing to USD/CAD drop coupled with NZD/USD Reversal with poor data.

I won't be using NZD/CAD for my method citing the highlighted reason below (higher daily trading range + volatility compared to the rest 3).

Does NZD/CAD move almost as same as AUD/CAD if so I might re-consider using it also for milking/churning to make some bucks

Attached Image (click to enlarge)
Click to Enlarge Name: ncad.JPG Size: 99 KB
Scoobi doobi doo
  • #7
  • Oct 20, 2015 2:46pm Oct 20, 2015 2:46pm
I am setting up my mechanical trading system for AUD/NZD ,NZD/CAD, EUR/GBP, AUD/CAD on below 5k MT4 test account now on 10/21:

User ID (login) 781620
password CSkr#jps

Server 199.59.207.49:443

Thanks thadakman to remind about NZD/CAD* its in the same league as others too..
Scoobi doobi doo
  • #8
  • Oct 20, 2015 2:47pm Oct 20, 2015 2:47pm
NZD/CAD seems to be trending a little more lately than ranging, but if you're playing AUD/NZD (which recently broke out, surprisingly to the downside) then you should be comfortable with NZD/CAD
  • #9
  • Oct 20, 2015 2:49pm Oct 20, 2015 2:49pm
By the way, 10% a month is a very good goal if you can do it consistently. That's my current goal as well. How close are you to achieving this if you don't mind me asking?
  • #10
  • Edited 3:14pm Oct 20, 2015 2:59pm | Edited 3:14pm
Quoting thadakman
By the way, 10% a month is a very good goal if you can do it consistently. That's my current goal as well. How close are you to achieving this if you don't mind me asking?

I have worked out a solution which is proving to be good for handling these bunch of pairs to achieve 10% a month, am adding NZD/CAD too.

I have passed on a test account details/trade explorer too above where am showcasing this mechanical trading system to achieve objective with my approach, please feel free to go through that we can work on any improvements or short comings that you find.

You can figure out the mechanical idea behind the trading system on what its doing straightaway when you login to the account that I have supplied (or ) watch the trade explorer thadakman
Scoobi doobi doo
  • #11
  • Edited Oct 21, 2015 3:29am Oct 20, 2015 3:22pm | Edited Oct 21, 2015 3:29am
For the benefit of all mechanical trading system added to trade explorer/account shared - described in simple 6 steps as a nutshell for trading AUD/NZD ,EUR/GBP, AUD/CAD and NZD/CAD unleashed below :

Step 1 : Two trades of this pair open at market rate one buy and one sell to start with of lot size 0.1

Step 2 : Buy Stop and Sell Stop Pending orders of size 0.1 lot is kept apart at a distance of 15pips

Step 3 : Buy Limit and Sell Limit Pending orders of size 0.2 lot is kept apart at a distance of 30pips

Step 4: If any of the pending order gets triggered then a subsequent pending order to be placed from the current market price For ex: Buy Stop 0.1 lot triggered implies, another Buy Stop to be placed 15pips apart from current market price of same lot size

Step 5 : If 10 pips is up for grabs as a basket profit in any of the trading pairs open then book the profits by closing only open orders of the matched trading pair and delete the corresponding pending orders too

Step 6: Repeat and Rinse
Scoobi doobi doo
  • #12
  • Oct 20, 2015 3:28pm Oct 20, 2015 3:28pm
Quoting Scoobidoobi
For the benefit of all mechanical trading system added to trade explorer described in simple 6 steps for trading AUD/NZD ,EUR/GBP, AUD/CAD and NZD/CAD Unleashed below : Step 1 : Two trades of this pair open at market rate one buy and one sell to start with of lot size 0.01 micro lot Step 2 : Buy Stop and Sell Stop Pending orders of size 0.01 lot is kept apart at a distance of 15pips Step 3 : Buy Limit and Sell Limit Pending orders of size 0.02 lot is kept apart at a distance of 30pips Step 4: If any of the pending order gets triggered from the current...
Sounds good, low risk with little possible drawdown.
  • #13
  • Edited 4:01pm Oct 20, 2015 3:37pm | Edited 4:01pm
Quoting thadakman
{quote} Sounds good, low risk with little possible drawdown.
Absolutely mate, the idea is to have least drawdown and take advantage of these pairs in devising a automated strategy to maneuver/milk/churn profits...

On the test standard account which I have shared NZDCAD spread is very high 6.4pips , Nevermind if run on better low spread ecn accounts performance can improve...

Attached Image (click to enlarge)
Click to Enlarge Name: spread.JPG Size: 61 KB
Scoobi doobi doo
  • #14
  • Edited 3:37am Oct 21, 2015 2:35am | Edited 3:37am
sample
Attached Image (click to enlarge)
Click to Enlarge Name: egbp-1.JPG Size: 56 KB


Here's how the low risk trading strategy goes about its business , step1-6 as described above done and booked 10pip profits so "repeat and rinse" again started afresh.
Scoobi doobi doo
  • #15
  • Oct 21, 2015 4:05am Oct 21, 2015 4:05am
Quoting Scoobidoobi
{quote} On the test standard account which I have shared NZDCAD spread is very high 6.4pips , Nevermind if run on better low spread ecn accounts performance can improve... {image}
spread is 5.9 - still terrible, but not 6.4
  • #16
  • Oct 21, 2015 4:27am Oct 21, 2015 4:27am
Quoting BubaYaga
{quote} spread is 5.9 - still terrible, but not 6.4
Agreed, in ECN spread of these pairs are less than 2 ofcourse we pay commissions per trade its all even steven
Scoobi doobi doo
  • #17
  • Edited 9:50am Oct 22, 2015 9:23am | Edited 9:50am
I've been focusing on the AUD/NZD and AUD/CAD. Some poster on another thread was really against trading any NZD pair due to the high costs involved. I had been having some pretty good success with GBP/NZD until late August when the whole China news and subsequent illiquidity during certain periods made volatility shoot up. So then I began to try to identify other pairs that weren't so volatile. So far my best success has been with AUD/CAD. Even AUD/NZD is hard to trade and have lost a number of pips on what otherwise *seemed* like a pair that ranged very well. ATM am trying to b/e on a running AUD/NZD trade. NZD has been showing strength in the last couple of weeks, which has hit any NZD shorts badly. I might just focus only on AUD/CAD going forward as it ranges the best and trend starts seem clear.

There's also some mathematical (simple) correlations in play with what pair is in the denominator and the effect that has on the overall rate for cross currency pairs. CAD in the denominator seems to effect less volatility than NZD. Of course this is due to NZD being in the .6xxxs, which translates to bigger percentage movement per pip move by NZD/USD. But this seems to be part of the "equation" in identifying the best ranging pairs and the pair that won't result in 10s or 100s of pips movements for each pip movement by the underlying major.
Enter Signature
  • #18
  • Oct 22, 2015 9:49am Oct 22, 2015 9:49am
Good to hear San, where do you see NZD/USD heading it seems to have got rejected .6830 resistance area back under .6800 , am expecting it test .6667 support.

what do you think given the $ index is 1% up with eur/usd dropping like hot cakes with ECB Draghi blowing the trumphet to do more QQQQEEEE to bring euro back to parity soon...

Shorted EUR/CAD at 1.4754 stop moved 1.4744 running 103pip so far
Scoobi doobi doo
  • #19
  • Oct 23, 2015 5:29am Oct 23, 2015 5:29am
Quoting Scoobidoobi
Ok folks , it seems traders are busy trading US session. Well If someone interested can provide a test mt4 trading account here will setup the trading system as I told its mechanical model and self explanatory WYSWIG(What You See What I Get) no rocket science whatsoever .
I am interested in trading in all three sessions and follow your model. From the statistics shown by you, I am convinced we can make 10-15% per month.
  • #20
  • Oct 23, 2015 5:44am Oct 23, 2015 5:44am
Quoting BubaYaga
{quote} spread is 5.9 - still terrible, but not 6.4
What brokers are you using guys? Pepperstone has 2-3 pips spread on this pair, Oanda also.
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