Wednesday, December 31, 2008

It looks like GBPJPY is coming back to its senses

I have been trading GBPJPY almost exclusively with the AME Cross Trader. However, recently I had to switch to another pair (EURCHF) because my favorite pair has been acting a little strange and throwing off my EA. But I ran some tests today and it looks like I might be able to put my EA back on GBPJPY. If you are interested, you can try the following parameters on a mini account with as little as $500, on the 4-hour GBPJPY chart...
  • minTradeSize=0.1 (0.01 for standard account)
  • scaleDivisor=100
  • stopDollars=1000
  • shortMaBars=36
  • longMaBars=120
  • stopBars=36
  • useLimit=1
  • limitPips=70
  • useMM=1
  • aggressiveMode=1
  • slippage=10
  • panicMode=0
  • maxTotalLots=1000
Please note that "stopBars=36" represents a 6-day high/low on GBPJPY, which means huge potential drawdown. However, in my backtest, this combination produced 200% gains in 1 month.

WARNING: If you are not comfortable trading GBPJPY without an EA, then you had better not even try it with the AME Cross Trader. Without sufficient experience you will panic at the first sign of drawdown and drain your account in a matter of days. But if you have patience and can control your impulses, you can easily double your account and take out your initial deposit, eliminating all of your risk.

1 comment:

KiWi said...

Tony!

I am a young forex trader just starting off...I will be following your blog religiously.

Maybe I'll be your competitor some day.

Congrats on the ATC despite the rulings!!!