Open regards,
George
Currency Heatmap 6 replies
help with Localized Stairstepping Heatmap indi 147 replies
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Elliot Waves/Demark Waves 2 replies
DislikedHey eagle4x
It's great you also noticed that, I have also noticed that certain pairs are dominant, for various reasons I agree that eurjpy is one of the most important. I suppose whether you go all out on it depends on trading style and circumstances of the trade, some would argue that spreading the trade reduces a certain amount of risk. I would also like to hear from some of the Masters around here on this issue
RedPadishaIgnored
Dislikedeurjpy is highly correlated to all the jpy pairs. So, it seems to me that instead of either buying or selling 12 pairs in the basket, just enter 1 trade for eurjpy and use 12 times the lot size for the trade when you get a signal to enter a trade from the system presented in this thread. For example, instead of trading .1 lot size ea. for 12 pairs, enter a trade for eurjpy at 1.2 lots. That way you save a lot of $ on the spread for 12 pairs vs. for only 1 pair, and it's much easier to control the trade of 1 pair vs. 12. Comments anyone?Ignored
DislikedHey eagle4x
It's great you also noticed that, I have also noticed that certain pairs are dominant, for various reasons I agree that eurjpy is one of the most important. I suppose whether you go all out on it depends on trading style and circumstances of the trade, some would argue that spreading the trade reduces a certain amount of risk. I would also like to hear from some of the Masters around here on this issue
RedPadishaIgnored
DislikedHi George!
Curious if I could get a template of post #57, much appreciation in advance.Ignored
DislikedHey RedPadisha,
Trading a GROUP can reduce the risk associated with a single currency pair moving against your trade direction. Risk management begins with careful research into all currency pairs in your GROUP. Established and formative TREND, group trends, and individual pair trends. In WAVES system, we use HEATMAPs (Orest, Multi Basket), BasketBars, single and GROUP T3RSI indicators.
When I write GROUP or TREND, it refers to all 14 currency pairs as a whole. For a subgroup such as JPYpairs, EURpairs, USDpairs--I write 'group' or 'group trend'. And for single currency pairs: 'pair' or 'trend'.
Hope this is clear,
GeorgeIgnored
DislikedHi eagle,
Depends on what you mean by 'highly correlated'. As I wrote before, it's certainly not a reliable proxy pair for the entire GROUP nor for the 12 pair JPY group. One of the reasons to trade the GROUP is to minimize the effect on one currency pair moving against your entry position. Granted that trading a single pair is easier to manage. That's why automation is so useful when trading the GROUP. The potential for gain or loss certainly is multiplied when trading multiple lots. Spread assumes more importance when trading shorter TFs, especially short duration scalping.
Using the trade signals for the entire GROUP to help determine single pair trade entry can be helpful. However,...Ignored
DislikedOriginally Posted by Comdoc,
We're no longer using T101 v 1.14 because it blocks valuable candlestick information, and signals are not based on stable data due to every timeframe changing with current tick. You can download it and BasketBars v1.5 from post #1. I have designed a much better HEATMAP, and now need to get it encoded.
Best regards,
George
Hi George
I reckon a much better HEATMAP is definitely worth waiting for. [sorry, encoding is not my forte]
May your pip tally continue to abound,
HalIgnored
DislikedI believe you are using faulty indicator T3_RSI. RSI_Period is never used indsie this indicator even you specify it as an input.It uses only T3 input.
KrzysztofIgnored
DislikedThis thing has everything 2MA for RSI, bolliger bands of RSI and alerts about consolidation (wideness of bands 20, middle conditions??) and possible trend reversals alert when RSI>68 and <32. Try it.
I tried Basket Bars, it gives a lot of alerts when alert function is enabled. Maybe the value of thresold should be changed ??
From my observation the fact is that the bigest moves are coming from middle conditions without any warning and later with almost no pullbacks.
Perhaps some hybrid system with Bolliger Band squuezze plus your system...Ignored