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Trading system using relative strength

  • #61
  • Oct 8, 2008 10:41pm Oct 8, 2008 10:41pm
Quoting billbss
There are eight currencies listed.
They can be combined into many different pairs.
I believe there are 56 possible pairs (simple permutations)
  • #62
  • Oct 8, 2008 10:43pm Oct 8, 2008 10:43pm
Well i got on fxpro between 16:00 and 20:00 earlier:

Strong
CHF
AUD
NZD (to weak a change)

Weak
USD
EUR
GBP
JPY
CAD


So whatever is strong, is a long, whatever is weak is short. You get loads of pair options due to this. You just mix and match between them. In this example:

CHF / ? = buy
? / CHF = sell

AUD / ? = buy
? / AUD = sell

with ? being any of the weak currencies. Get loads of options. All depends on the ISO designation of the currency pairs which one you have to choose doesn't it.

I found that on mine, using NZD meant i was losing money (on every pair i tried with it). I think the stronger the change in ccfp the better. Due to the change being 0.0002 on my NZD ccfp over the two 4 hours candles its not sufficient to act on. I made 300 odd profit using 0.1 lots using AUD pairs alone really in under an hour. However because I acted on NZD as strong (and it quickly turned weak), it completely counteracted everything else, so I had to close them all quickly (i could have taken the opposite trades but didn't bother.)

Trading like this really has a compounding effect. IF you get it right you win, and win big, if you get it wrong you lose and lose big. If the currencies reverse while your not watching your screwed. Definately needs a take profit and stop loss EA i reckon. Nothing is certain in this game. Need to test this in full later. Interesting idea though. Be interesting to see which trades people take and which trades people decide to not bother with. A trading style like this becomes very subjective i think.
  • #63
  • Oct 8, 2008 10:54pm Oct 8, 2008 10:54pm
This is about 10 mins before my candle closes, but it won't make much difference:

USD -22
EUR +6
GBP +2
CHF -13
JPY -52
AUD +81
CAD +5
NZD -11

Big movers would be the USD and JPY paired with AUD
  • #64
  • Oct 8, 2008 10:57pm Oct 8, 2008 10:57pm
Quoting deepblue27
Well i got on fxpro between 16:00 and 20:00 earlier:

Strong
CHF
AUD
NZD (to weak a change)

Weak
USD
EUR
GBP
JPY
CAD


So whatever is strong, is a long, whatever is weak is short. You get loads of pair options due to this. You just mix and match between them. In this example:

CHF / ? = buy
? / CHF = sell

AUD / ? = buy
? / AUD = sell

with ? being any of the weak currencies. Get loads of options. All depends on the ISO designation of the currency pairs which one you have to choose doesn't it.

I found that on mine, using NZD meant i was losing money (on every pair i tried with it). I think the stronger the change in ccfp the better. Due to the change being 0.0002 on my NZD ccfp over the two 4 hours candles its not sufficient to act on. I made 300 odd profit using 0.1 lots using AUD pairs alone really in under an hour. However because I acted on NZD as strong (and it quickly turned weak), it completely counteracted everything else, so I had to close them all quickly (i could have taken the opposite trades but didn't bother.)

Trading like this really has a compounding effect. IF you get it right you win, and win big, if you get it wrong you lose and lose big. If the currencies reverse while your not watching your screwed. Definately needs a take profit and stop loss EA i reckon. Nothing is certain in this game. Need to test this in full later. Interesting idea though. Be interesting to see which trades people take and which trades people decide to not bother with. A trading style like this becomes very subjective i think.
I'm thinking trade the larger moves...don't base it on position, base it on amount changes. I'm not sure how I'm going to write an EA for this one...
  • #65
  • Oct 8, 2008 10:59pm Oct 8, 2008 10:59pm
Yes, but I wanted to know how he was choosing his 14 or 15.

Quoting billbss
There are eight currencies listed.
They can be combined into many different pairs.
  • #66
  • Oct 8, 2008 11:04pm Oct 8, 2008 11:04pm
Bill, these numbers below are the CCFp differences between two H4 candles?

Quoting billbss
This is about 10 mins before my candle closes, but it won't make much difference:

USD -22
EUR +6
GBP +2
CHF -13
JPY -52
AUD +81
CAD +5
NZD -11

Big movers would be the USD and JPY paired with AUD
  • #67
  • Oct 8, 2008 11:05pm Oct 8, 2008 11:05pm
Quoting billbss
This is about 10 mins before my candle closes, but it won't make much difference:

USD -22
EUR +6
GBP +2
CHF -13
JPY -52
AUD +81
CAD +5
NZD -11

Big movers would be the USD and JPY paired with AUD

Billbss,

I know we are probably on different systems, but can you explain how you got to these numbers. I feel silly asking you to show your math, but I just don't see it.

Thanks
Mitch
  • #68
  • Oct 8, 2008 11:18pm Oct 8, 2008 11:18pm
Quoting mitchp
Billbss,

I know we are probably on different systems, but can you explain how you got to these numbers. I feel silly asking you to show your math, but I just don't see it.

Thanks
Mitch
I'll show the numbers for the USD. It'll show how all of them were done.

20:00 BAR = +.0585
00:00 BAR = +.0567

It lost 18 pips.
I had -22 because I took the value 10 minutes before the bar closed.

Does that explain it?
  • #69
  • Oct 8, 2008 11:21pm Oct 8, 2008 11:21pm
Thank you, I appreciate the explaination and I do understand. I still have 40 minutes before my 4 hr changes.
  • #70
  • Oct 8, 2008 11:32pm Oct 8, 2008 11:32pm
I opened longs on AUD/USD & AUD/JPY.

They've been up about +35 pips.
I put a 25 pip trailing stop on them and am going to bed.
  • #71
  • Oct 8, 2008 11:47pm Oct 8, 2008 11:47pm
Quoting Ronald Raygun
I'm thinking trade the larger moves...don't base it on position, base it on amount changes. I'm not sure how I'm going to write an EA for this one...
I agree, amount changes. Regarding EA's. You seem to manage it somehow . A simple customisible profit locking EA (hmm now where did I get that thought from I wonder) with generic overall stoploss should be laying around somewhere. That would do the business methinks for this sort of trading. I can't think how else to base a stoploss otherwise.

I think when EA's are made and people just wack em on, when they fail and don't make the expected returns they don't know why because they haven't learnt all the subtle nuances of a system manual trading gives you.
  • #72
  • Oct 8, 2008 11:55pm Oct 8, 2008 11:55pm
Quoting deepblue27
I agree, amount changes. Regarding EA's. You seem to manage it somehow . A simple customisible profit locking EA (hmm now where did I get that thought from I wonder) with generic overall stoploss should be laying around somewhere. That would do the business methinks for this sort of trading. I can't think how else to base a stoploss otherwise.

I think when EA's are made and people just wack em on, when they fail and don't make the expected returns they don't know why because they haven't learnt all the subtle nuances of a system manual trading gives you.
I can't speak for other people, but I tend to understand a system better when I write an EA for it.

As for profit lock EAs...there's always the swiss army EA
  • #73
  • Oct 9, 2008 2:42am Oct 9, 2008 2:42am
Here is my simple question to everyone - especially ES...

when is the BEST time to get the readings of the 4H bar and get into the trade - in other words - how much time would you give for the bar to develop before the current trends can be shown? i say 1 to 2 hours? or at the end of first hour? from your experience ES - since you've been using it for over a month.

thanks
  • #74
  • Oct 9, 2008 3:07am Oct 9, 2008 3:07am
Skyline, thx, it works. The maroon and purple are hard to tell apart. Could you please change the color of one of them.[/quote]

Loophole,

Try this template.
Attached File(s)
File Type: tpl es_relativestrength.tpl   352 KB | 2,670 downloads
  • #75
  • Oct 9, 2008 3:13am Oct 9, 2008 3:13am
Quoting ES Trader
Skyline,
Fantastic. I was looking exactly same kind of changes for ccfp.You are great.Thanks a bunch.
Kris
You're welcome ES
  • #76
  • Oct 9, 2008 3:14am Oct 9, 2008 3:14am
Quoting loophole

Skyline, thx, it works. The maroon and purple are hard to tell apart. Could you please change the color of one of them.
Hi loophole,
you can change color by yourself in the user settings and pick whatever color you like
  • #77
  • Oct 9, 2008 3:15am Oct 9, 2008 3:15am
Quoting ES Trader
new trades at 7pm central time.
Ihve usd, chf, jpy and aud as strong and eur gbp, cad and nzd week.These does not match with skyline ccfi indicator. I have the following trades now;
I guess there's some repainting issue whenever a new 4hr candle is forming, will investigate to remove this nasty error.
  • #78
  • Oct 9, 2008 3:18am Oct 9, 2008 3:18am
Quoting ES Trader
skyline, I like your modified CCFI. But is it possible to show with + and - ,the difference of only COMPLETED LAST 2 bars and not to include the present bar.
Thanks
Kris
Hi ES,
actually it's coded to show the difference between 2 completed last bar thus speaking in mql language it checks Bars[2] and Bars[1]
  • #79
  • Oct 9, 2008 3:39am Oct 9, 2008 3:39am
hi ES
i had a draw down about 40 pip in this trades based on your strategy , but it end up to be profitable
regards
Attached Image (click to enlarge)
Click to Enlarge Name: es new trade.gif Size: 85 KB
  • #80
  • Oct 9, 2008 4:36am Oct 9, 2008 4:36am
Thanks Sky but how do you read these pls? Is it by placing cursur on the + or - ? A little layman explanation will be appreciated

Thanks

Quoting skyline
Hi ES,
actually it's coded to show the difference between 2 completed last bar thus speaking in mql language it checks Bars[2] and Bars[1]
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