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Trading system using relative strength

  • #661
  • Oct 13, 2008 9:51am Oct 13, 2008 9:51am
Quoting harigp
I am using FXDD and have not come any problem

MY pip i now +350 and GBP/JPY is the biggest gainer and GBP/us$
GJ is doing good. My euro trades are dragging it down. I'll try again at noon. This time I'll use the indi that ES mentioned.
  • #662
  • Oct 13, 2008 9:56am Oct 13, 2008 9:56am
My first day trying this system. I am now out of everything with a profit of around 550 pips. Only traded 0.02 lots and did see -250 pips at one stage, I prefer to trade small lots on live acc than trade demo as I find I make different decisions on demo account.
Thanks to all the people who have contributed and especially to ES Trader for sharing this great and simple system with us.

Dan
  • #663
  • Oct 13, 2008 9:59am Oct 13, 2008 9:59am
Quoting Ronald Raygun
I don't think anyone discussed any exit strategies.

I'm just running a 30 pip trailing stop right now, with a 100 pip TP.
14 full TP hits
9 TS hits.
1 loss (reversed trade).

So my EAs are up net 1700 pips when I'm not using the ranking.
The ranking version is still trailing and is currently at 110 pips.

Money is good right now, I am waiting for the market to change, that will determine how good this system is.

RR have you had any trades from the last candle hit the 100 tp? I've had 1 TP at 100 pips - gbpchf and 1 stopped out - eurcad.

Thanks
  • #664
  • Oct 13, 2008 10:01am Oct 13, 2008 10:01am
Quoting ES Trader
If any one is intersted in knowing, I have been using ONLY one indicator for all my trades.No other fancy stuff. The indicator is CCFP v.1.0.2b
Kris
Hi ES Trader, greetings from Germany.

This is better than sliced bread. I made more pips in a week than in a month with other methods. Congratulations.

Now, I think, we should point the youngsters (I am about your age, 60) to some basics of trading before they become too enthusiastic.

What one needs is a trading plan (when, how, where and how much plus targets, realistic targets that can be achieved).

You give them here all the necessary tools. What they must learn is having patience. I learned it, the hard way (not: "Lord, give me patience. NOW").

One poster has something in his signature about Albert Einstein and "the biggest power of all: compound interest"

Compound interest means to add the profits to your capital and re-calculate the new lot size each and every day.

Therefore, what, if we say: "I want to make a Million in 18 working months time from starting out with 1000 units "? Is this possible? Yes, not easy, but possible. What you need to make is 1.94% profit each and every of these (roughly) 360 days (or 19.4 units of your compound capital per day).

These calculations are linear and you can find a dozen of calculators on the internet for checking.

If you can start with 5000, it needs 1.49% per day (or, with the original 1.94% you'll end up with 5.047.037,54 after 360 days, or you achieve the million already after 276 days).

Last figure: start with 10.000 and you need to make 1.29% per day. 1.94% would give you the double of the 5000-figures (10.094.075,10). Or the million would be available already after 240 working days (exactly 1 year).

With these figures you can play around for SL and TP's. One also could say: 1.94% per day is 9.7& per week. Still works.
If you achieved your daily goal, you can continue, but with caution. Try to not jeopardize what you have already won. Get out, it you are in danger of losing some of what you need. There are better trades down the road. Don't get into "hope-mode". What mostly follows is the "dam...-mode". Think, everyone of us has made this experience not only once.

Do not let your trading be too much influenced by the 3 most dangerous human attitudes: greed, fear and envy.

I am not the guy who loves dancing on a broken-out volcano, means trading w/o neither stop loss nor take profit. Imagine another event like 9/11 (sorry, but this could possibly happen, couldn't it?) Things like that could wipe out the biggest account if they catch you on the wrong foot. What you need after the event, is: capital to continue trading. So protect at least so much that something is left after a cruel event.

So far my 2 cents.

And, thanks again, ES-Trader, for your generosity to share this system with us.
I strongly believe it will also work in the future (now, that the bankers have again enough money to make other stupid things ;-) ). There will be interest rates increasing and decreasing, Hurricans and Taifuns threatening oil production, water and energy will become a rare goods.

All the best
  • #665
  • Oct 13, 2008 10:05am Oct 13, 2008 10:05am
@LaoTechnic,
Did u take the trade on 16:00 (server time) in your FxPro demo too? I would like to compare yours with mine so we (and all of ES fans) can see each other's differences or commons. The server time is same with FXDD broker. 16:00 server = 13:00 GMT
Attached Image (click to enlarge)
Click to Enlarge Name: monday 2.gif Size: 69 KB
  • #666
  • Oct 13, 2008 10:06am Oct 13, 2008 10:06am
dear Mitachp

I traded only G/J,E/J and g/u

Both G/j and G/u is very bullish but E/J not verygood
  • #667
  • Oct 13, 2008 10:11am Oct 13, 2008 10:11am
Quoting qwasyx
Hi ES Trader, greetings from Germany.

This is better than sliced bread. I made more pips in a week than in a month with other methods. Congratulations.

Now, I think, we should point the youngsters (I am about your age, 60) to some basics of trading before they become too enthusiastic.

What one needs is a trading plan (when, how, where and how much plus targets, realistic targets that can be achieved).

You give them here all the necessary tools. What they must learn is having patience. I learned it, the hard way (not: "Lord, give me patience. NOW").

One poster has something in his signature about Albert Einstein and "the biggest power of all: compound interest"

Compound interest means to add the profits to your capital and re-calculate the new lot size each and every day.

Therefore, what, if we say: "I want to make a Million in 18 working months time from starting out with 1000 units "? Is this possible? Yes, not easy, but possible. What you need to make is 1.94% profit each and every of these (roughly) 360 days (or 19.4 units of your compound capital per day).

These calculations are linear and you can find a dozen of calculators on the internet for checking.

If you can start with 5000, it needs 1.49% per day (or, with the original 1.94% you'll end up with 5.047.037,54 after 360 days, or you achieve the million already after 276 days).

Last figure: start with 10.000 and you need to make 1.29% per day. 1.94% would give you the double of the 5000-figures (10.094.075,10). Or the million would be available already after 240 working days (exactly 1 year).

With these figures you can play around for SL and TP's. One also could say: 1.94% per day is 9.7& per week. Still works.
If you achieved your daily goal, you can continue, but with caution. Try to not jeopardize what you have already won. Get out, it you are in danger of losing some of what you need. There are better trades down the road. Don't get into "hope-mode". What mostly follows is the "dam...-mode". Think, everyone of us has made this experience not only once.

Do not let your trading be too much influenced by the 3 most dangerous human attitudes: greed, fear and envy.

I am not the guy who loves dancing on a broken-out volcano, means trading w/o neither stop loss nor take profit. Imagine another event like 9/11 (sorry, but this could possibly happen, couldn't it?) Things like that could wipe out the biggest account if they catch you on the wrong foot. What you need after the event, is: capital to continue trading. So protect at least so much that something is left after a cruel event.

So far my 2 cents.

And, thanks again, ES-Trader, for your generosity to share this system with us.
I strongly believe it will also work in the future (now, that the bankers have again enough money to make other stupid things ;-) ). There will be interest rates increasing and decreasing, Hurricans and Taifuns threatening oil production, water and energy will become a rare goods.

All the best
What a realistic 1st post. To be sticked on all beginners screen ... may be all of us too.

Thanks.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #668
  • Oct 13, 2008 10:15am Oct 13, 2008 10:15am
FerruFX,

Thanks for the fantastic indicator.
Is the trade level 1 in your indi. equal
to the signals in CCFp v1.0.2b?

Thanks again
  • #669
  • Oct 13, 2008 10:18am Oct 13, 2008 10:18am
Quoting nubchai
RR have you had any trades from the last candle hit the 100 tp? I've had 1 TP at 100 pips - gbpchf and 1 stopped out - eurcad.

Thanks
Just one, the remaining 3 that the EAs took are trailing.
  • #670
  • Oct 13, 2008 10:19am Oct 13, 2008 10:19am
Well I think I'll try the EA on the next 4 hour instead of doing the manual calculations. Right now two EA trades have closed in profit and 1 was stopped out. That leaves 6 EA trades running in the negative but there are 2 more hours. The EA can do the calculations more quickly and get the trades in.

Sure glad I scalped this morning though lol. 400 live pips makes the day go better no matter what happens
  • #671
  • Oct 13, 2008 10:22am Oct 13, 2008 10:22am
Quoting nubchai
Well I think I'll try the EA on the next 4 hour instead of doing the manual calculations. Right now two EA trades have closed in profit and 1 was stopped out. That leaves 6 EA trades running in the negative but there are 2 more hours. The EA can do the calculations more quickly and get the trades in.

Sure glad I scalped this morning though lol. 400 live pips makes the day go better no matter what happens
If you're uncomfortable letting the EA trade for you, set signalsonly to true, and watch the comments. (upper left of the chart)

Pay specific attention to the trade trigger, and trade based on what it says.
  • #672
  • Oct 13, 2008 10:23am Oct 13, 2008 10:23am
Quoting Ronald Raygun
Just one, the remaining 3 that the EAs took are trailing.
Thanks. The EA took 7 trades for me on the last candle.
  • #673
  • Oct 13, 2008 10:25am Oct 13, 2008 10:25am
Quoting Ronald Raygun
If you're uncomfortable letting the EA trade for you, set signalsonly to true, and watch the comments. (upper left of the chart)

Pay specific attention to the trade trigger, and trade based on what it says.

No I'm not at all uncomfortable with the EA. I think it will get trades in for me more quickly which may be the problem.
  • #674
  • Oct 13, 2008 10:25am Oct 13, 2008 10:25am
Quoting Myth
@LaoTechnic,
Did u take the trade on 16:00 (server time) in your FxPro demo too? I would like to compare yours with mine so we (and all of ES fans) can see each other's differences or commons. The server time is same with FXDD broker. 16:00 server = 13:00 GMT
My CHF says plus and my AUD says minus, exactly opposite as yours. This is FXDD platform. Paris
  • #675
  • Oct 13, 2008 10:32am Oct 13, 2008 10:32am
Quoting Myth
@LaoTechnic,
Did u take the trade on 16:00 (server time) in your FxPro demo too? I would like to compare yours with mine so we (and all of ES fans) can see each other's differences or commons. The server time is same with FXDD broker. 16:00 server = 13:00 GMT
Hi Myth,
I have start the trade around 10:15GMT and close after 4h.
  • #676
  • Oct 13, 2008 10:35am Oct 13, 2008 10:35am
Quoting Pluto2
FerruFX,

Thanks for the fantastic indicator.
Is the trade level 1 in your indi. equal
to the signals in CCFp v1.0.2b?

Thanks again
Level 0

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #677
  • Oct 13, 2008 10:36am Oct 13, 2008 10:36am
Paris,

I agree with your indicator reading with FXDD, but if you use the CCCFp_Close_v1.Overt you will get the opposite on CHF and AUD. I'm trying to figure out now which indicator might be better for FXDD
  • #678
  • Oct 13, 2008 10:43am Oct 13, 2008 10:43am
Attached the new version of the CCFp-Diff.

1. Added an alert pop up/email for each pair. When both currencies of a pair reach the defined level (opposite color of course).

2. Added the timeframe to look.

FerruFx
Attached File(s)
File Type: ex4 CCFp-Diff_[v1.01].ex4   112 KB | 2,222 downloads
MT4/MT5 EAs/Indicators/Alerts coder
  • #679
  • Oct 13, 2008 10:45am Oct 13, 2008 10:45am
Quoting FerruFx
Level 0

FerruFx
I've noticed that on the last 4H bar (InterbankFx), your indicator shows NZD as a +. All of the other CCF indicators show a -

The other currencies are the same.
  • #680
  • Oct 13, 2008 10:48am Oct 13, 2008 10:48am
@LaoTechnic,
So we can't compare which pairs are taken. Maybe in the next opportunity. Because the next 4 hour candle means midnight here.

@ Paris,
Did you take the trades in 16:00? How about the result? So this method is very dependent to the broker. It doesn't matter as long as we get green pips. But how about if it's negative?

2 hours and 40 mins later since trades 16:00 is taken.
Attached Image (click to enlarge)
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