Forex EA Robot Trading Blog

Q. i opened a mini account at interbank (demo) and wanted to try your EA. But at IBFX i can not trade the GBP/JPY currency with mini account......
A. You can override the lot size by setting manual lotsize to true and then setting the lotsize value.
Q. how can i use your EA on this currency? (GBPJPY)
A. Yes you can use the EA on this currency
Q. Can you please let me know what is the easyforexindv2.exe file is for?
A. easyforexindv2.ex4 is the indicator used by the EA and can be displayed on a chart also

Labels: CarryGrid EA, easyforexindv2.ex4, FAQ, GBPJPY, mini account

Q. Do you know what type of results you are getting from V4 versus V5? I
left my V4 running on GBPJPY and forgot about it. I set CloseOnProfit To
True only and now the demo account is up 11K and has made up 4K over the initial
losses. So at what point does it close the profitable trades again?

A. v4 is definitely going to win over v5 on a big run up, like the present. If you check the demo statement you will see the equity is steadily increasing, but when there is a pullback theres only a couple of open trades, as it generally takes a couple of hundred pips for the trend to change. It will close the profitable trades when the trend reverses - and this is shown by the line colour on the indicator
supplied.
This is also why we still include v4 in the download package. Actually if you use
v5 and set the trailing stop to false you will effectively have a version 4 EA
running.

So v5 presents a lower-risk version with associated lower profits. It will do better in ranging/falling markets, protect your equity better, but in a big bull market you will profit but not make the same killing as you would if you rode it all the way. So it can be tailored to your risk profile.

Labels: CarryGridding, Close positions, GBPJPY, v4, v5

I am going to start posting more FAQ information here, as the FAQ on the site is already quite long, and it is hard to scan for updates.

1. Please can you explain in a short message what the parameters do - is everything to change in the parameters ?? or can i start it how it received me ?? whats the best settings ?
2. Is it only for GBPJPY ??
3. How did i received updates ??

1. The parameters are explained in the download page sent to you.. if you read
   further down the page you will find all the parameters explained.. there isnt
   anything you should have to change, unless you have a problem with the lot size.
   If there is a problem with the auto lot size, it will tell you in the top left
   part of the screen that the lot size is invalid and you will have to set it
   manually.
2. Basically it can be used on all the high interest bearing currency
   pairs, such as GBPJPY, GBPCHF, AUDJPY, USDJPY - but you should not be using it on too many pairs simultaneously as you may be placing too many positions. Its a decision concerning risk/reward, which comes back to the individual taste.
3. You will receive updates via a newsletter that is sent out every few weeks
   with information regarding the latest version and any other freebies/promotions that we have. For example, we recently sent out another EA we have in testing.

Labels: EA, FAQ, GBPJPY, parameters, updates

With the current GBPJPY market rhythm ranging over a 500 pip range, the version 5 carrygrid will do very nicely.

The key differences are

1. The comments to tell you exactly what the EA is thinking
2. The trailing stop will lock in profits for you, which will take advantage of these ranging markets.
3. For every benefit there is a disadvantage, and if you trade with a trailing stop you will not profit as well on a big run up. However it is a nice safety feature, and i for one run my EA with the trailing stop on.

Labels: EA, GBPJPY, Ranging Markets, trailing stop

Aug. 1 (Bloomberg) -- The yen jumped against the euro and the dollar as
hedge fund losses and a slump in stocks prompted investors to cut investments
paid for by loans in Japan.
Traders pared so-called carry trades, pushing up
the yen versus the 16 most-active currencies. The Australian and New Zealand
dollars, whose high interest rates are a magnet to investors, were among the
biggest decliners against the yen. Asian and European equities also dropped on
speculation of further fund losses tied to U.S. subprime mortgages.

Looks like it might be set to continue further, when it comes down, it comes down hard.

Labels: GBPJPY

I looked into today why a bunch of gbpjpy trades were not closed whilst the trend was down and they were in profit. It turns out that they were set up by the original carrygrid (version 1), which had a different comment to the current version. This led to it not recognizing these trades as its own, and not registering them as to be altered. Took some debugging to get there. If anyone else comes across this issue, i can send them an updated EA. The fix will be rolled into the next version that is released, basically we are going to scrap the check for comments, and check the magic number only, which does not change within the carrygrid series.

Labels: EA, GBPJPY

1. Results would be improved, by proactively managing the EA.


2. The big downspike could have been the start of a major correction, and whilst it was not the ideal time to exit, it was the right thing to do.


3. If we wanted to get aggressive, we could be buying in on the way down, and we would have picked up a lot more trades. But this is martingaling, and we dont do that. We go with the tide, not against it.


4. The limit of 10 trades was ok for this gridmesh size, in terms of covering the range of the market.


5. Lets not forget that Hindsight is a wonderful thing.


6. We should have traded bigger lots we would be retired by now!

Labels: EA, GBPJPY

GBPJPY breaks 250!! This really highlights the importance of using the long term charts. If we were in on daily or even weekly it would have been an uninterrupted series of accumulated winning trades. As it stands we are still doing nicely on the 4hour chart at the moment. My only regret is not opening up on GBPCHF as well.

I had a question sent to me;

I saw on your new site, under current results, you're now running this on
usdjpy and usdchf. Please share all the pairs you've had successful
with. I thought it was only being used on gbpjpy and gbpchf.

The pairs ive had success with are the following; nzdjpy, audjpy, usdchf, usdjpy, gbpjpy, gbpchf, eurjpy. Some pairs are better than others, based on ;

• Volatility (high is good)
• Swap paid
• When the grid was opened

I would rate GBPJPY, EURJPY, NZDJPY and GBPCHF as amongst the best. The dollar is taking such a battering at the moment its not even funny, but its starting to look like a good place to grid in from. USDCHF has always been a tricky one for me, usually leaving me with the biggest drawdowns - definitely not a beginners pair.

I will post some charts and information over time to give more substance to this, but not now, as its late, and no one yet has posted on this brand new blog, except myself, so until they do, im laying low.

Labels: GBPJPY

Due to the recent CPI data, GBP pairs have just taken a run upwards. All the EAs should be trading it at this point in time, and taking in some big profits. At the tmie of writing we are at 249.36. GBPCHF is showing even stronger momentum, breaking out of its recent range. USD pairs continue to range in anticipation of important data released later on today.

update: bloomberg broke with the story now.

July 17 (Bloomberg) -- U.K. inflation slowed less than economists forecast in June after transport costs and furniture prices increased, cementing investors' expectations that the Bank of England will raise interest rates further.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a0Q3ZL6vDdPg&refer=home

Labels: GBPJPY