Shift - Official RoboMiner, RoboMiner Pro and PipStrider sales and support

mcdirt · 02-01-2010, 08:14 PM

Suppose I have a large enough Account to trade 0.04lots using RoboMiner Pro on AUDNZD. I could open 1 instance and set my position sizes at 0.04lots and the grid at 40pips.

If I were to use the Shift function and open 4 instances at 0.01lots, 40pip grid and Shifts of 0, 10, 20, 30pips then wouldn't I catch lots of smaller moves that might be missed by a 40pip grid and therefore make more money than trading 0.04lots x 40pip grid?

rgds McDirt
PS Just bought RoboMiner Pro and got sent RoboMiner II as well - why would I need that?

mcdirt · 02-02-2010, 01:01 AM

Or ...

1 instance with 0.01lot x 10pips grid.
Which Option is the best?

mblake · 02-02-2010, 04:25 AM

Hi there,

If you wish to run a second instance, you do that by opening a second chart and inserting RM pro into it. Doing this requires you to halve the lot sizes as the two charts with RM running will each be opening a trade - its just they will be say, 20 pips apart.

So if three instances of RM pro are operating you need to think in terms of 1/3 lot size you would have been running with one instance.

Remember each instance will require a unique magic number (first digi(s) only - don't change the last few digits of the MN.

looking at the charts it's difficult to justify going below 20 pip shifts. There appears to be enough ranging to justify 20 pips and for most staying with the 40 pip single instance default will be just fine.

Re RM and RM pro. Quite. But I expect some just run the Pro version experimentally with other currency pairs for research, or with one pair where they wish to alter outer limits and shift. Another idea would be to load the old RM onto a new chart and set it to not open any new trades, enter the old magic number and get it to manage the close-outs of those older trades so it looks after the spread and swap issues.

Maybe you can come up with some other ideas!

Michael

Forex Goldmine · 02-02-2010, 09:12 AM

While you could run 4 instances, and I have experimented with it previously, I found that 2 instances seems to be just fine. Remember, you won't make "more profit", per se, but you will make "more smaller profits".

Now if you were to open .04 lots with 2 - 4 instances you would make more profits, but obviously you would have doubled or quadrupled your risk. Some high-risk traders have done this, but typically only in the extremes of the range. So at this very second we are at grid 51, which I would say is too low to open multiple instances. However, a while ago we were above grid 55 and some of these folks opened two instances.

Obviously, as of this morning, the AUD/NZD has moved south, so a lot of those open trades have closed in profit.

Anyway you do it, if you're doing something that exposes you to more risk, be very careful. Just last week I had a client who blew his live account. I have not found out why, as he has not replied, but about the only way to do that is to use lot sizes which are too large, so be careful!

I always recommend trying fancy strategies on a demo account that mimics your live account in terms of broker, account balance, leverage, and settings. Run that for a few weeks or months, and if everything seems reasonable then you can always go live with it later. If you blow up your live account ... that's going to be a big problem.

Forex Goldmine · 02-02-2010, 09:25 AM

I forgot to mention - you also have to factor swap in your plan. If you have smaller lots, swap fees can eat into your profits more.

mcdirt · 02-02-2010, 07:33 PM

Thanks for the replies. So 2 Instances, 1 with an offset of 20pips seems to be the way to go. Fine - less charts is better. Perhaps open 1 now and then a 2nd when the price is in Grid 55 or above.

Swap seems to be the biggest issue then, reading various posts in the 3 Robominer Forums it seems that Swap can be a big problem on longer trades. If I can get a Swap free account then I should definitely do that?

rgds McDirt

Forex Goldmine · 02-03-2010, 09:16 AM

Oh yes, a swap free account would be the way to go. I would be thrilled to find that as long as other fees were not excessive.

mcdirt · 02-04-2010, 12:55 AM

Still not 100% convinced. This thread was titled "Shift" so rather than change the subject here I have posted on a thread I found about Swap on the forex-assistant forum. Hope that is OK.

rgds McDirt

mcdirt · 02-17-2010, 06:49 PM

After much thought - a Swap Free account seems to be the best to me. Been running Swap free for a week or so and love the fact that I pay 80c commission per trade (i'm trading 0.1Lots) and that's it no more charges.

I've read somewhere else talk about changing RoboMiner so it takes Swap into consideration and still makes 40pips profit but that might mean that trades that have been open for a long time have to make 60, 70, 80pips to cover Swap and make 40pips profit. The price may not make that extra distance and turn again meaning trades are open even longer as the price cycles again then next time round trades may have to make 100pips or more.

Better to have a Swap free account for me.

rgds McDirt

mblake · 03-08-2010, 07:10 AM

It may be useful to build up a profile of brokers with their swap rates and whether those brokers have a downside, such as spread widening at the close etc etc.

I believe some brokerages only allow swap free accounts to be opened if you reside in certain countries.

Maybe swap free accounts are only worthwhile in upward trending markets or just for the one currency pair. It sounds like some joint research is needed.

Michael

02-01-2010, 08:14 PM	#1 (permalink)
mcdirt Junior Member Join Date: Aug 2009 Posts: 16	Shift Suppose I have a large enough Account to trade 0.04lots using RoboMiner Pro on AUDNZD. I could open 1 instance and set my position sizes at 0.04lots and the grid at 40pips. If I were to use the Shift function and open 4 instances at 0.01lots, 40pip grid and Shifts of 0, 10, 20, 30pips then wouldn't I catch lots of smaller moves that might be missed by a 40pip grid and therefore make more money than trading 0.04lots x 40pip grid? rgds McDirt PS Just bought RoboMiner Pro and got sent RoboMiner II as well - why would I need that?

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02-02-2010, 01:01 AM	#2 (permalink)
mcdirt Junior Member Join Date: Aug 2009 Posts: 16	Or ... 1 instance with 0.01lot x 10pips grid. Which Option is the best?

02-02-2010, 04:25 AM	#3 (permalink)
mblake Junior Member Join Date: Nov 2009 Posts: 5	Hi there, If you wish to run a second instance, you do that by opening a second chart and inserting RM pro into it. Doing this requires you to halve the lot sizes as the two charts with RM running will each be opening a trade - its just they will be say, 20 pips apart. So if three instances of RM pro are operating you need to think in terms of 1/3 lot size you would have been running with one instance. Remember each instance will require a unique magic number (first digi(s) only - don't change the last few digits of the MN. looking at the charts it's difficult to justify going below 20 pip shifts. There appears to be enough ranging to justify 20 pips and for most staying with the 40 pip single instance default will be just fine. Re RM and RM pro. Quite. But I expect some just run the Pro version experimentally with other currency pairs for research, or with one pair where they wish to alter outer limits and shift. Another idea would be to load the old RM onto a new chart and set it to not open any new trades, enter the old magic number and get it to manage the close-outs of those older trades so it looks after the spread and swap issues. Maybe you can come up with some other ideas! Michael

02-02-2010, 09:12 AM	#4 (permalink)
Forex Goldmine Administrator Join Date: Jul 2009 Location: Sterling, VA, USA Posts: 138	While you could run 4 instances, and I have experimented with it previously, I found that 2 instances seems to be just fine. Remember, you won't make "more profit", per se, but you will make "more smaller profits". Now if you were to open .04 lots with 2 - 4 instances you would make more profits, but obviously you would have doubled or quadrupled your risk. Some high-risk traders have done this, but typically only in the extremes of the range. So at this very second we are at grid 51, which I would say is too low to open multiple instances. However, a while ago we were above grid 55 and some of these folks opened two instances. Obviously, as of this morning, the AUD/NZD has moved south, so a lot of those open trades have closed in profit. Anyway you do it, if you're doing something that exposes you to more risk, be very careful. Just last week I had a client who blew his live account. I have not found out why, as he has not replied, but about the only way to do that is to use lot sizes which are too large, so be careful! I always recommend trying fancy strategies on a demo account that mimics your live account in terms of broker, account balance, leverage, and settings. Run that for a few weeks or months, and if everything seems reasonable then you can always go live with it later. If you blow up your live account ... that's going to be a big problem.

02-02-2010, 09:25 AM	#5 (permalink)
Forex Goldmine Administrator Join Date: Jul 2009 Location: Sterling, VA, USA Posts: 138	I forgot to mention - you also have to factor swap in your plan. If you have smaller lots, swap fees can eat into your profits more.

02-02-2010, 07:33 PM	#6 (permalink)
mcdirt Junior Member Join Date: Aug 2009 Posts: 16	Thanks for the replies. So 2 Instances, 1 with an offset of 20pips seems to be the way to go. Fine - less charts is better. Perhaps open 1 now and then a 2nd when the price is in Grid 55 or above. Swap seems to be the biggest issue then, reading various posts in the 3 Robominer Forums it seems that Swap can be a big problem on longer trades. If I can get a Swap free account then I should definitely do that? rgds McDirt

02-03-2010, 09:16 AM	#7 (permalink)
Forex Goldmine Administrator Join Date: Jul 2009 Location: Sterling, VA, USA Posts: 138	Oh yes, a swap free account would be the way to go. I would be thrilled to find that as long as other fees were not excessive.

02-04-2010, 12:55 AM	#8 (permalink)
mcdirt Junior Member Join Date: Aug 2009 Posts: 16	Still not 100% convinced. This thread was titled "Shift" so rather than change the subject here I have posted on a thread I found about Swap on the forex-assistant forum. Hope that is OK. rgds McDirt

02-17-2010, 06:49 PM	#9 (permalink)
mcdirt Junior Member Join Date: Aug 2009 Posts: 16	After much thought - a Swap Free account seems to be the best to me. Been running Swap free for a week or so and love the fact that I pay 80c commission per trade (i'm trading 0.1Lots) and that's it no more charges. I've read somewhere else talk about changing RoboMiner so it takes Swap into consideration and still makes 40pips profit but that might mean that trades that have been open for a long time have to make 60, 70, 80pips to cover Swap and make 40pips profit. The price may not make that extra distance and turn again meaning trades are open even longer as the price cycles again then next time round trades may have to make 100pips or more. Better to have a Swap free account for me. rgds McDirt

03-08-2010, 07:10 AM	#10 (permalink)
mblake Junior Member Join Date: Nov 2009 Posts: 5	It may be useful to build up a profile of brokers with their swap rates and whether those brokers have a downside, such as spread widening at the close etc etc. I believe some brokerages only allow swap free accounts to be opened if you reside in certain countries. Maybe swap free accounts are only worthwhile in upward trending markets or just for the one currency pair. It sounds like some joint research is needed. Michael