Trading system using relative strength | Page 9 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading System Using Relative Strength-Part 2 1,499 replies

Updated CCFp and CFP indis for relative strength trading 55 replies

Relative Strength Basket Trading System 3,479 replies

Dyekid217 Trading relative strength and CICR 0 replies

VT Moving Averages of Relative Strength Index Alert Wanted 1 reply

Attachments: Trading system using relative strength
Exit Attachments

Trading system using relative strength

  • #161
  • Oct 9, 2008 9:24pm Oct 9, 2008 9:24pm
Quoting ES Trader
Carol,
I am still working on SL and TP.
I have been basically using standard 2-3% of account value as SL. As far as TP goes I get out if I am happy with the amount or just enough to pay monthly payment for my son,s medical school tuition. LOL.
Kris
Hi ES Trader, thanks to share this interesting strategy !
And i would like to know if you can elaborate more on your stop and take profit on each currencie, is it the same for all ? Do you use trailing stop ? etc...
Thanks
Luk
  • #162
  • Oct 9, 2008 9:29pm Oct 9, 2008 9:29pm
this is another trade i put in few minutes ago. let us see what happens
Attached Image (click to enlarge)
Click to Enlarge Name: cc9.gif Size: 54 KB
  • #163
  • Oct 9, 2008 9:31pm Oct 9, 2008 9:31pm
pipsrider,
it is at your discretion
  • #164
  • Oct 9, 2008 9:36pm Oct 9, 2008 9:36pm
ES,

CHF and JPY are both '+', why did you take a trade?

Thanks
  • #165
  • Oct 9, 2008 9:42pm Oct 9, 2008 9:42pm
mitchup,
you got me!
You are right, mistake. but is making money though. i am going to leave it and see what happens. this is te magic of multiple currency trading at the same time.
  • #166
  • Oct 9, 2008 10:05pm Oct 9, 2008 10:05pm
ES,

I hope for many pips for you, I am up around around 800 pips today with this method. The only problem is figuring out SL and TP, so you don't have to sit watching the screen, though with increases like these it's pretty fun watching it go up, up, up!
  • #167
  • Edited 10:35pm Oct 9, 2008 10:08pm | Edited 10:35pm
Quoting ES Trader
mitchup,
you got me!
You are right, mistake. but is making money though. i am going to leave it and see what happens. this is te magic of multiple currency trading at the same time.
Thank you for this system.
1. What however is the advantage of waiting for 5-15 minutes before placing trades? Does it reduce drawndown in your experience? Or is it allowing time for the indicator to reset? If the later is the case, one can simply remove and replace indicator prior viewing data window.

2. What has been the average pip gain you have seen in a 4 hour window or do you always wait till the end of the 4h bar when in profit?
  • #168
  • Oct 9, 2008 10:10pm Oct 9, 2008 10:10pm
I cannot beleve this,Yesterday I went through this thread and Just booked
contracts andI cannot beleive my eyes

US$ 264 Investment now has given me the profit of US$ 517 more than
100 %
  • #169
  • Oct 9, 2008 10:19pm Oct 9, 2008 10:19pm
lcfxtrader,

I've tried to do something similar with mladen's heatmap, but I like your application as it's easier visually to see the basket. I've read T101's thread but never saw your indi. Have you posted it anywhere yet?

Quoting lcfxtrader
Thanks ES for sharing your stategy. I read 101's post (using 14 IBFX pairs)and have tried something similar to what you are doing. I look to see if 10 out of the 14 are either red (short) or green (long) on the hourly. Still to soon to tell if this will work. I am shooting for 1000 pips with a stop of 500 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: heatmap.gif Size: 13 KB
  • #170
  • Oct 9, 2008 10:20pm Oct 9, 2008 10:20pm
happy to hear many are making money.
main reason why this works is due to going with the "flow" and in the direction of the "primary"currency. For eg in eurusd, eur being the primary currency. once you find out which is stronger /weaker it makes easy to trade.

LETS ALL MAKE SOME GREEN PIPS!!!!
  • #171
  • Oct 9, 2008 11:00pm Oct 9, 2008 11:00pm
Quoting BenQ
lcfxtrader,

I've tried to do something similar with mladen's heatmap, but I like your application as it's easier visually to see the basket. I've read T101's thread but never saw your indi. Have you posted it anywhere yet?
Ben

Here's the link for the indicator:

http://www.forexfactory.com/showthre...15#post2241315

I changed the colors to red and green only eliminating the lighter shades of each color. I did it for a cleaner look and also so you don't get mesmerized by all those shades. My entry is 70%+ green or red on the hourly. I am using Steve's EA to manage the trades once established. If you want to open a thread so we don't invade ES's space then give me a shout.

Lcfx
  • #172
  • Oct 9, 2008 11:01pm Oct 9, 2008 11:01pm
Some of the members has confusion in selecting which currency to buy and which currency to sell

Right now the indicator show the strong currency is JPY Second one is US$

The Weakest Cuurency is AUD

To Take Two Example

Buy Strong Currency and sell Weak currency

So in the currecny chart Aud/JPY

Sell AUD then you will be buying effectively JPY

Cuuency chart US$/JPY

Sell US$

Currency chart AUD/US$

Buy US$

15 minutes ago I rebookd contract now it is +200 pip wonderful

The Indicator shows the strenth of the currecny is 4 hour interval
  • #173
  • Oct 9, 2008 11:05pm Oct 9, 2008 11:05pm
made $540 in 40 mintes. not bad. done for tonight. time to hit the sack.Total take since 5 pm tonight about $1000.00. Good night
Attached Image (click to enlarge)
Click to Enlarge Name: c11.gif Size: 55 KB
  • #174
  • Oct 9, 2008 11:06pm Oct 9, 2008 11:06pm
Thanks, lcfx. I do remember seeing that post now, but I didn't recognize it with your color changes. I'm going to pm you.

Quoting lcfxtrader
Ben

Here's the link for the indicator:

http://www.forexfactory.com/showthre...15#post2241315

I changed the colors to red and green only eliminating the lighter shades of each color. I did it for a cleaner look and also so you don't get mesmerized by all those shades. My entry is 70%+ green or red on the hourly. I am using Steve's EA to manage the trades once established. If you want to open a thread so we don't invade ES's space then give me a shout.

Lcfx
  • #175
  • Oct 9, 2008 11:08pm Oct 9, 2008 11:08pm
ES, are you trading more often than every 4 hours?

Quoting ES Trader
made $540 in 40 mintes. not bad. done for tonight. time to hit the sack.Total take since 5 pm tonight about $1000.00. Good night
  • #176
  • Oct 9, 2008 11:11pm Oct 9, 2008 11:11pm
Benq, yes, sometimes. But since we are trading 4 hr bar ,signals are pretty good and lasts almost 8-12 hrs.
  • #177
  • Oct 9, 2008 11:13pm Oct 9, 2008 11:13pm
Do you mean you're in trades that long - 8-12 hours? Maintaining your position through new H4 bars?

Quoting ES Trader
Benq, yes, sometimes. But since we are trading 4 hr bar ,signals are pretty good and lasts almost 8-12 hrs.
  • #178
  • Oct 9, 2008 11:57pm Oct 9, 2008 11:57pm
I scrolled thorugh the Indictor Back to see there was opportunites before the
Current situation and I have seen good opportunites minimum two to three
pairs and some times more

Plus 800 pip now with in one hour The big pip maker is EU/AU Buy EU sell AU
  • #179
  • Oct 10, 2008 12:25am Oct 10, 2008 12:25am
Guys,

One of the BEST part of this strategy is the using of very small margin in the account to pocket huge amount of pips !!!!

BIG thanks to ES Trader again !!!!
  • #180
  • Oct 10, 2008 12:32am Oct 10, 2008 12:32am
does someone have the count down clock for the bar charts?
that way i know when the four hour bar is close to ending or
just beginning.

thnx
1 trader viewing now