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Trading System Using Relative Strength-Part 2

  • #221
  • Oct 18, 2008 2:13pm Oct 18, 2008 2:13pm
May I correct to say that these trades were done without knowledge of the market is trending or ranging?

At leat paris hillton has taken the bold step to declare that she is doing the reverse trade and colleting the pip. Eventhough if i have done the reverse step I will be admitting it inthe later stage( man and women difference)

By the way when the market opens on monday tell me whether the market is ranging or trending
  • #222
  • Oct 18, 2008 2:59pm Oct 18, 2008 2:59pm
Quoting Paris Hilton
I use only the Ferrufx indicator ( which is fantastic) and i set it to level zero to get the most trades. And if the market is ranging I'll trade reverse signals. So far I've made over +950 pips in 2 days with this strategy. As a matter of fact everyday trade I would've taken with the reverse method on FXDD gmt+3 I would've profited on all 3 days before this as well. Works great! Paris
Paris, you seem to be a lady on her way to riches, have you ever considered marrying a never do good husband? I volunteer
  • #223
  • Oct 18, 2008 3:14pm Oct 18, 2008 3:14pm
Quoting TickJob
May I correct to say that these trades were done without knowledge of the market is trending or ranging?
These were all conducted while the market was ranging. I have no idea if reverse trades will work when the market is trending. Paris
  • #224
  • Oct 18, 2008 3:18pm Oct 18, 2008 3:18pm
These basket methods (both T101's and ES') have had a good run the last few weeks trading both the regular and the reverse style. But I'd like members to share at what level they are deciding the basket is dead and exit at a loss.

So many of the baskets go to profit in a matter of minutes. But when it goes the other way, what level of pain do you decide exit?
  • #225
  • Oct 18, 2008 3:41pm Oct 18, 2008 3:41pm
I will
Quoting nubchai
Shiva can you please let us know your results with the new indi next week? I'm going to keep working with the bar change version (previous one). But am very curious to see how the new version works.

Thanks!

Sandy
  • #226
  • Oct 18, 2008 4:03pm Oct 18, 2008 4:03pm
So many of the baskets go to profit in a matter of minutes. But when it goes the other way, what level of pain do you decide exit


Look the chart and see how the candles are placed in simple 5 EMA
before you place the trade

The time taken is around 10 to 15 mintues and even less
  • #227
  • Oct 18, 2008 4:52pm Oct 18, 2008 4:52pm
Quoting 1trader2
One other thing I want to encourage is to use some restraint in requesting our valued coders such as FerruFx & SteveHopwood, & others to make minor changes to the indicator. If you think your suggestion would benefit the majority, then suggest it, but if it is more your personal preference, save it for another day.

1Trader2
Moderator
Hehe. Much as I love being described as a 'valued coder', I have to take issue with being mentioned in the same sentence as FerruFx.

FerruFx has probably forgotten more about coding than I shall ever learn. The guy is brilliant. I am not.

I enjoyed the brief moment in the limelight, though.


  • #228
  • Oct 18, 2008 5:00pm Oct 18, 2008 5:00pm
Quoting SteveHopwood
Hehe. Much as I love being described as a 'valued coder', I have to take issue with being mentioned in the same sentence as FerruFx.

FerruFx has probably forgotten more about coding than I shall ever learn. The guy is brilliant. I am not.

I enjoyed the brief moment in the limelight, though.


I know I am impressed with both of your programming. Your Multipurpose EA is outstanding and the best I have ever seen any where for purchase or free..

And FerruFx, well, what can I say but brilliant. I don't think most people have any idea what he has done here. This lastest version is 126k file, that means that it must loosly be about say 80 or 90 k file of source code, which I did some quick calulations means that he must have written over 1600 lines of code to make this. We are talking about lots and lots of donated hours. and the skill is incredible. This is an awesome gift. IMO

Scott
  • #229
  • Oct 18, 2008 5:04pm Oct 18, 2008 5:04pm
Steve,

I've been singing your praises for a while now, and it's well deserved. That multi purpose EA is head and shoulders above the others. And now with the latest update -- well, it's just incredible. Thanks for all you do.

And of course a huge thank you to FerruFX as well. The indicator is amazing and a huge accomplishment.

Quoting SteveHopwood
Hehe. Much as I love being described as a 'valued coder', I have to take issue with being mentioned in the same sentence as FerruFx.

FerruFx has probably forgotten more about coding than I shall ever learn. The guy is brilliant. I am not.

I enjoyed the brief moment in the limelight, though.


  • #230
  • Oct 18, 2008 5:09pm Oct 18, 2008 5:09pm
Quoting smjones
I know I am impressed with both of your programming. Your Multipurpose EA is outstanding and the best I have ever seen any where for purchase or free..

And FerruFx, well, what can I say but brilliant. I don't think most people have any idea what he has done here. This lastest version is 126k file, that means that it must loosly be about say 80 or 90 k file of source code, which I did some quick calulations means that he must have written over 1600 lines of code to make this. We are talking about lots and lots of donated hours. and the skill is incredible. This is an awesome gift. IMO

Scott
I must have missed it Where can I find this "Multipurpose EA" from Steve? I checked the paper clip but can't see it there.
Thank you
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #231
  • Oct 18, 2008 5:12pm Oct 18, 2008 5:12pm
Quoting harigp
So many of the baskets go to profit in a matter of minutes. But when it goes the other way, what level of pain do you decide exit


Look the chart and see how the candles are placed in simple 5 EMA
before you place the trade

The time taken is around 10 to 15 mintues and even less
Harigp, can you explain the use of a 5 EMA, what exactly are you looking at and how do you use that information.

Thanks
Mitch
  • #232
  • Oct 18, 2008 5:15pm Oct 18, 2008 5:15pm
Steve and Ferrufx,

Awesome work and then there are some idiots that I will not mention names that just can not find things themselves. They never bother trying to look or answer things for themselves.

Regards,
Jeff
  • #233
  • Oct 18, 2008 5:18pm Oct 18, 2008 5:18pm
Quoting matrixebiz
I must have missed it Where can I find this \"Multipurpose EA\" from Steve? I checked the paper clip but can't see it there.
Thank you
No reason for you to spot it matrixebis. Download it from http://www.forexfactory.com/showthread.php?t=89371. Download the instructions as well, though, as it is quite complicated to use.

Thanks for the kind comments smjones and BenQ. Much appreciated.

  • #234
  • Oct 18, 2008 5:21pm Oct 18, 2008 5:21pm
Quoting azjeff
Steve and Ferrufx,

Awesome work and then there are some idiots that I will not mention names that just can not find things themselves. They never bother trying to look or answer things for themselves.

Regards,
Jeff
  • #235
  • Oct 18, 2008 6:14pm Oct 18, 2008 6:14pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting SteveHopwood
Hehe. Much as I love being described as a 'valued coder', I have to take issue with being mentioned in the same sentence as FerruFx.

FerruFx has probably forgotten more about coding than I shall ever learn. The guy is brilliant. I am not.

I enjoyed the brief moment in the limelight, though.


Steve don't be so modest. You've done an awesome EA manager. Not so many here have the skills to do that.

Also thanks again and again for your support.

And of course thanks to all, SmJones, BenQ, Jeff and many others for your kind words. Very much appreciated.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #236
  • Edited 6:56pm Oct 18, 2008 6:37pm | Edited 6:56pm
Quoting FerruFx
Sorry but I don't see the utility of your request ... Also your example show a weird relation between currencies and pairs (you add both currencies regardless if they are + or -).

Anyway, I don't plan to add values.

FerruFx

Maybe I did not understand it, in your indicator, and in this method, in pairs that it shows, have the individual currencies the opposite strength power ?
If so, then the sum of the absolute value of the individual currencies of each pair should show which pair has more power.
Perhaps I am wrong?

Thanks

Lubo
If I know how, I tell You!! Few but Good!!
  • #237
  • Oct 18, 2008 6:46pm Oct 18, 2008 6:46pm
Guyz,

I don't mean to sound skeptical , but isn't this system based on if
"rsi of USD moves up and RSI of AUD moving down" so we enter a short on AUDUSD

Isn't price action also more importanta?

Because if you see a regular trading... RSI could be above 50levels and yet the price could be going down.

And...if people have to stoop to going the opposite of what the indicator says to make a profit.... i think its like a flip coin system then.

Maybe we need to re-think and re-improve...cuz executing a trade on demo is ok.... but it does not bring confidence to trading live trade..
  • #238
  • Edited 7:16pm Oct 18, 2008 6:54pm | Edited 7:16pm
Quoting dznmrd
Guyz,

I don't mean to sound skeptical , but isn't this system based on if
\"rsi of USD moves up and RSI of AUD moving down\" so we enter a short on AUDUSD

Isn't price action also more importanta?

Because if you see a regular trading... RSI could be above 50levels and yet the price could be going down.

And...if people have to stoop to going the opposite of what the indicator says to make a profit.... i think its like a flip coin system then.

Maybe we need to re-think and re-improve...cuz executing a trade on demo is ok.... but it does not bring confidence to trading live trade..
Hi dznmrd, read this http://articles.mql4.com/422 and this one http://articles.mql4.com/484
  • #239
  • Edited 9:36pm Oct 18, 2008 9:18pm | Edited 9:36pm
http://i38.tinypic.com/2njv6sg.gif

Comparing all of the JPY pairs from close to open and close to open 4 bars ago. Showing weakness of JPY relative to the other currencies. The numbers are the pip difference close minus open.
  • #240
  • Edited Oct 19, 2008 3:56am Oct 18, 2008 10:07pm | Edited Oct 19, 2008 3:56am
CCfp stands for Complex Common Frame percent and it measures the fluctuation relative to each other. The nearness of a currency to the balance line (0) means that the currency is in the balance state towards other currencies.
Thinking about this I start to understand more how its calculated why one buy signal is a buy and the other buy signal is a sell.

It has a lot to do where we are in relation to the balance line.

1. A buy signal at the extreme top half of 0 one would expect a return to the mean and sell the currency. So a sell could be placed when it starts to show signs of weakness either on a lower TF or combined with v1.03 current. A stoploss could then be placed just above the last significant top and the trade closed or scaled out near or at mean. An entry needs to be monitored as in a strong up trend it could turn out to be a retracement.
It would explain why Paris was successful trading the opposite

2 A buy signal at oversold or extreme oversold to 0 would be then genuine buy signal. A stoploss could be placed just below the last significant low and the trade closed or scaled out near or at mean. Also as in 1. The entry needs to be monitored as in a strong down trend it could turn out to be a retracement.
To give an entry a even better chance of success the traded pairs should be coming from the opposite and returning to the 0. Now if we close our position only partially near 0 or by crossover of the pair and lock in some profit then let the rest of the position to continue the ride as long as each pairs is moving opposite to each other and away from the balance line.
A signal could be generated if both of the pairs are above or below the 0 in which case I would ignore it until one of them crosses the 0 line and both moving away from it.

What do you guys think? Does that make sense or am I wrong in my logic here?
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