Simple Basket Trading system

This is my yet another simple system for trading Forex.

I just use one Indicator ESTrader_IA_Don_071911 created by my friend Don (DISBELJ) here on FF.

I use 8 pairs, which are NON correlated :

Buys:
eurusd
gbpusd
nzdusd
audusd

Sells:
Usdchf
usdcad
usdjpy
Euraud

Put the Indicator on any chart, preferably 1hr.
Look at the Buys profit and sells profit.

When BOTH are NEGATIVE , SELL the BUY pairs and Buy the SELL pairs.

When Both are positive , Buy the buy pairs and sell the sell pairs.

That is it.
Watch pips come in!!

Of course try it out on Demo for a while.

May be some on can create an alert when the above changes happen on "buys profit" and "sells profit "

Here is the trade I had placed when BOTH buy and sell profits were NEGATIVE. It had been as high as $80.00. Now since "buys profit" is turning positive the account value is coming down

I'm in ES, running a basket now...



Pete

Looks like some of your positions are already in the money.Great!

At what point should we bail ES? Perhaps when one pair becomes negative (after all pairs were positive?)



Pete

This baby's cranking pips-now 2% in the black!

MQ4 option? I would prefer to edit the text to make it a little smaller.

The major issue here is the EURAUD, which is jumping between positive and negative values





Pete

whatever amount makes you happy

Last signal on day chart was Negative on both buy and sell. Hence I sold "buy" pairs and bought "sell pairs. Let us see what hapens

ES_Trader,

How long have you been trading with indicator and have you gone live?

Also, I see you just put trade on a day chart so is there any timeframe that works best?

I just downloaded and will give try.

Thanks for sharing.

Rando

ES, could you give us a run down on the indy please, I'm assuming it's currency strength based?

Pete

Look forward to testing out on a demo yes would be nice to get a alert when all prs line up,also a script or ea to open/close all prs buy/sell at the same time.
Regards

When does the indy reset. Start of next day?? When you reload it on the chart?? When do you start over??

I like the simplicity of this system so have created some scripts to help opening and closing baskets. ESTrader SBTS Positive is for the case when sell and buy profit are positive values, the rest should then be obvious.

Hope this helps

Mike

This trading setup appears to be a roller-coaster ride. About an hour ago, I entered my trades with both the Buys Profit and Sells Profit positive. Account went almost immediately +120 pips. Inside of an hour, both the Buys Profit and Sells Profit turned negative. My account is negative -150 pips.

I am wondering how any other traders are fairing?

Hi,

I made about 100 pips so far in about 3 hours or so. I have used a MPTM trade manager which is on the forum to handle the basket trades. When you had about 100 pips or so you could have exited to be on the safer side.
I have one more basket right now at around 50 pips plus. Trying all this on a demo account of course.
However if someone could clarify the GMT offset in the indi it would be great.Do we need t o set this as per our broker time or just let it go with the flow as is??
Thanks to ES for the system

Cheers,

BN

I'm experiencing pretty much the same thing.

Hopefully, ES_Trader can give us some tips on how to use the indicator successfully.

Rando

I'm in California do I leave the "broker gmt offset" to -5 or
it doesn't matter?