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Trading system using relative strength

  • #401
  • Oct 11, 2008 3:06pm Oct 11, 2008 3:06pm
Icicle

Here's an alert for the end of the 4 hour bar (if you have it on the 4 hour chart). It's a pop-up box and doesn't have sound. Someone else was kind enough to post this earlier.

Sandy
Attached File(s)
File Type: mq4 bar_close_alarm_V1.mq4   2 KB | 954 downloads
  • #402
  • Oct 11, 2008 3:09pm Oct 11, 2008 3:09pm
Seen this happen on here over and over......

Someone posts a decent system and its ruined by those who are looking the easy way out by allowing EAs to work for them. From what I've seen 90% of EAs don't work for no extended period of time anyways.

The only addition needed for this system is the spreadsheet that was created to make finding the right pairs to trade simpler.

The need to over complicate things is damn near unnecessary and I don't blame ES Trader for being pissed off.

Some people need to look into the saying "less is more".
  • #403
  • Oct 11, 2008 3:14pm Oct 11, 2008 3:14pm
Hello everyone,

I am not taking sides in this or anything but I do have exception to this post. Did you read the 1st post ES posted on this thread? In case you did not let me quote something from it. "This is so simple it must be easy to create an EA or indicator for this system."
Now whether or not the ea's or indi's that are posted match ES's system is another story but your post is way out of line. All anyone has to do is read the 1st post on this thread. In the future if you do not believe in ea's just move past that post as I do know ES is ok with ea's that are to his system.

Regards,
Jeff

Quoting Yaad
Seen this happen on here over and over......

Someone posts a decent system and its ruined by those who are looking the easy way out by allowing EAs to work for them. From what I've seen 90% of EAs don't work for no extended period of time anyways.

The only addition needed for this system is the spreadsheet that was created to make finding the right pairs to trade simpler.

The need to over complicate things is damn near unnecessary and I don't blame ES Trader for being pissed off.

Some people need to look into the saying "less is more".
  • #404
  • Oct 11, 2008 3:19pm Oct 11, 2008 3:19pm
Hi ES Trader ... I would like to you resolve a question that
I think many people have here when see your trades captures.

Supposedly hours to put the trades are: 00:00 / 04:00 / 08:00 / 12:00 / 16:00 / 20:00. (5-10 minutes after the new bar) Correct?

Then there are hours in your captures different: 15:00, 22:00 ...

Please, could you get us out of the doubt?

Thank you.
  • #405
  • Oct 11, 2008 3:19pm Oct 11, 2008 3:19pm
Yes, but it's no longer really needed. With Pipo's excel sheet it's as easy as can be. I had a problem initially with quickly figuring out all the combinations possible. It's an easy method to begin with, but that part just took me a long time. But with that spreadsheet, even I can do it now in about 10 seconds.

Quoting 1trader2
BenQ-
That's a great idea and makes trading the pairs simple!

1Trader2
  • #406
  • Oct 11, 2008 3:32pm Oct 11, 2008 3:32pm
Robert, what's the diff between 103c and 103d? They look the same on my chart.

Quoting MrPip
Here are new versions of indicators.
Some of you expressed concern that the indicators do not match the original method.
I removed the multiplier so now the indicator shows the difference to save you the effort of doing the math yourself by floating the mouse over the bars to get the values.

I checked my version with the original and the currency values in the data window are the same.

I added showing the bar values as well. First is Bar 1, second is Bar 2, third is difference Bar1 - Bar2.

Robert
  • #407
  • Oct 11, 2008 3:36pm Oct 11, 2008 3:36pm
Kfx,

ES Trader said it many times that he's not always at the screen when the 4hr bar first appears. I believe his various posts were to indicate that with this system you can still get some good pips even if you miss the start of the 4hr bar. I can confirm this, some of my trades have been late and I still have seen positive pips with every trading session with this system.
  • #408
  • Oct 11, 2008 3:47pm Oct 11, 2008 3:47pm
Quoting mitchp
Kfx,

ES Trader said it many times that he's not always at the screen when the 4hr bar first appears. I believe his various posts were to indicate that with this system you can still get some good pips even if you miss the start of the 4hr bar. I can confirm this, some of my trades have been late and I still have seen positive pips with every trading session with this system.
Thanks mitchp ...

I think that maybe it would be good trade strictly for 4 in 4 hours, to see what is the best time to trade. I also think that it is best not to use this system if there are important news. I try to do that the next Monday and put the results here.
  • #409
  • Oct 11, 2008 6:20pm Oct 11, 2008 6:20pm
Eek eek eek eek eek.

Sorry sorry sorry sorry sorry sorry sorry sorry sorry sorry.

Looking back, I can't believe the tone of my post. I can't imagine what I was thinking at the time. For sure, I have deleted it so nobody else sees it.

Please don't abandon everybody else here just because of me. All I was trying to do was offer a couple of scripts that make order placing easier in return for the gold-dust that you were offering.

Please let's be friends.

Quoting ES Trader
Thanks for your reply.
I don,t care any more what you guys do with this system.
I am done.

Good luck to you all.

Kris
  • #410
  • Oct 11, 2008 6:26pm Oct 11, 2008 6:26pm
Quote
Eek eek eek eek eek.

Sorry sorry sorry sorry sorry sorry sorry sorry sorry sorry.

Looking back, I can't believe the tone of my post. I can't imagine what I was thinking at the time. For sure, I have deleted it so nobody else sees it.

Please don't abandon everybody else here just because of me. All I was trying to do was offer a couple of scripts that make order placing easier in return for the gold-dust that you were offering.

Please let's be friends.

Nice post Steve. Thanks for having the courage and insight to admit you overreacted. Hopefully we can go forward with ES's help.
  • #411
  • Oct 11, 2008 6:44pm Oct 11, 2008 6:44pm
This method is very simple and easy to understand and implement.

What I don't know how to do is close all positions if a certain negative balance is reached over the total account(example:maybe 3% of total account balance).
I have an IBFX mini account and while there is only $2200 in there I would like to use this method to safely build it up.
I have read some posts suggesting certain EAs that close all positions when this happens...Is there one someone could recommend for my account?

I believe we have a real "goldmine" here with this....Thanks again ES!
  • #412
  • Oct 11, 2008 6:47pm Oct 11, 2008 6:47pm
Quoting SteveHopwood
Eek eek eek eek eek.

Sorry sorry sorry sorry sorry sorry sorry sorry sorry sorry.

Looking back, I can't believe the tone of my post. I can't imagine what I was thinking at the time. For sure, I have deleted it so nobody else sees it.

Please don't abandon everybody else here just because of me. All I was trying to do was offer a couple of scripts that make order placing easier in return for the gold-dust that you were offering.

Please let's be friends.
SteveH,
Its OK. I was to be blamed as well for my reaction to your post.I should have been more understanding .No body forced me to teach anything here.I volunteered myself.

I got frustrated when I saw this Simple system being made more complicated.

I have to realise that everyone here is trying to help others in their own way.

Let me state again what I said in my first Post
.
I have NO problem with EA /Indicator /script or whatever AS LONG as it is very simple and follows the SYSTEM to the LETTER.
Thanks
I am sorry again if I acted stupid and hurt everyones feeling. NOW lets GO and make some GREEN pips !!!
Thanks
Kris
  • #413
  • Oct 11, 2008 6:54pm Oct 11, 2008 6:54pm
OK guys, lets focus again. Thanks TS Trader for this system and I am looking forward to test it over the next week as per rule in the first few posts.

What would be very helpfull is an EA to run tests and see weaknesses and strength of this system, drawdowns, how does the time differences of brokers effect it, how does it perform over choppy periods, what pairs perform best. With this info that we can model a money managemen plan and than implement it in an EA to trade accordingly. What do you guys think.


Also if TS trader would check all uploaded indicators or exels for it's use and merit for his system and post it in the first thread and all uploads should be removed to prevent confusion.
  • #414
  • Oct 11, 2008 7:02pm Oct 11, 2008 7:02pm
I have Strong readings:USD,GBP,CHF,AUD,NZD
I have weak readings:EUR,CAD,JPY

I have written down all the possible combinations(that IBFX mini has) and have come up with 11(7 buys and 4 sells).

Does anyone else have what I have?
  • #415
  • Oct 11, 2008 7:05pm Oct 11, 2008 7:05pm
Quoting Pipo
OK guys, lets focus again. Thanks TS Trader for this system and I am looking forward to test it over the next week as per rule in the first few posts.

What would be very helpfull is an EA to run tests and see weaknesses and strength of this system, drawdowns, how does the time differences of brokers effect it, how does it perform over choppy periods, what pairs perform best. With this info that we can model a money managemen plan and than implement it in an EA to trade accordingly. What do you guys think.


Also if TS trader would check all uploaded indicators or exels for it's use and merit for his system and post it in the first thread and all uploads should be removed to prevent confusion.
The problem with an EA for the exact system is that it would end up being a multi-currency EA. That's definitely not back-testable using the strategy tester.
  • #416
  • Oct 11, 2008 7:10pm Oct 11, 2008 7:10pm
Quoting BenQ
Robert, what's the diff between 103c and 103d? They look the same on my chart.
Change the input for UseMAs to false. Doing so will show the results from using the close of the past two bars instead of the MA values.

That is the only difference.

I did find something in the code that might need to be modified so be careful when using the close bar method.


Robert
  • #417
  • Oct 11, 2008 7:12pm Oct 11, 2008 7:12pm
Quoting Ronald Raygun
The problem with an EA for the exact system is that it would end up being a multi-currency EA. That's definitely not back-testable using the strategy tester.
I see
  • #418
  • Oct 11, 2008 7:20pm Oct 11, 2008 7:20pm
Quoting RickW00716
I have Strong readings:USD,GBP,CHF,AUD,NZD
I have weak readings:EUR,CAD,JPY

I have written down all the possible combinations(that IBFX mini has) and have come up with 11(7 buys and 4 sells).

Does anyone else have what I have?
\Rickw00716,

I would be careful making decision with Fridays Data. Market will open with often large gaps. I would at least wait for one 4hr bar to COMPLETE after the market opens.
kris
  • #419
  • Oct 11, 2008 7:33pm Oct 11, 2008 7:33pm
Hi TS...

I have been looking at this system and it appears to be producing pips for just about everyone who is trying it.

I have attached the 4 hr GBPUSD chart and was wondering how you filter or stay out of these situations. First off let me give you the RS readings for the 8 candles in the picture. Just going by the strict application of going long or short on the next candle using the RS readings would have resulted in 3 losses, 1 win with 2 no trades.

----USD-------GBP

1. 0.0070---- 0.0130
2. 0.0052---- 0.0141 Long on 3rd candle = Loss
3. 0.0083---- 0.0142 No Trade
4. 0.0093---- 0.0152 No Trade
5. 0.0057---- 0.0163 Long on 6th candle = Loss
6. 0.0016---- 0.0182 Long on 7th candle = Loss
7. 0.0012---- 0.0194 Long on 8th candle = Small Win
8. 0.0012---- 0.0197

This chart was from 12 Sept to about 16 Sept and we were transitioning from a down trend into a fairly decent pullback.

Has anyone come up with a way to filter out these situations, or do you just take the loss because the other pairs that you trade at the same time will make up for the occasional losing position?
Attached Image (click to enlarge)
Click to Enlarge Name: gbp analysis t2.gif Size: 27 KB
  • #420
  • Oct 11, 2008 7:43pm Oct 11, 2008 7:43pm
As far as I have followed this strategy since last week, most of the time, the number of possible combinations vary between 10-15. If someone trades 0.1 lot per pair, that makes 1-1.5 standard lots and considering the current market volatility, 2-3% SL may not be sufficient, if your capital is not more than USD20,000. Last week, I have opened a position with all possible combinations and before it jumped to positive territory, the max. drawdown was -620 pips, which was 12.4% with USD5,000 account balance. Therefore, I suggest to use smaller trade size per currency and build up wealth by using money management methods such as Fixed Ratio method of Ryan Jones.

Considering we are trading a diversified portfolio, it is highly probable that trade balance will be in positive territory at some stage, but if you keep your stoploss too close and do not allow enough room for the trade, it is also highly probable that you'll be stopped out before the trade reverses and goes into positive territory. Because when you open your position with, let's say 15 pairs, you immediately start with -60 pips due to average spread of 4 pips per pair. And it is already 3% loss with USD2000 capital. So keep your trade size small and build wealth slowly, IMHO.
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