steve, so on todays 12:00 candle, you too only had 4 suggestions on ibfx trade level 2? so it woudl have been 1% ?
I have just started work on automating the tp setting in my ea - should be available soon as it is not difficult to do.
Trading System Using Relative Strength-Part 2
- #1,361
- Nov 18, 2008 10:45am Nov 18, 2008 10:45am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
I have just started work on automating the tp setting in my ea - should be available soon as it is not difficult to do.
- #1,362
- Nov 18, 2008 10:53am Nov 18, 2008 10:53am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Attached is a version of my ea that shows what cash value is represented by the percentage of balance I am shooting for when BasketTPasPercent is set to true. In all other respects it is exactly the same as the one in my thread, so don't bother downloading it if you are not interested in the cosmetic bit.
- #1,364
- Nov 18, 2008 5:37pm Nov 18, 2008 5:37pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
seems like a lot of 1600 candles are reversing from their suggested positions on ibfx. is everyone els in the same boat? i just dont see how people are pulling off winning positions on some of these baskets. actually it seems like every one practically is far in the opposite direction. i dont see how anyone could have gotten a 2% TP
I am able to get my entries in within minutes, sometimes seconds, of the of the new candle appearing and the indi finishing its refreshing. Presumably, that means I am taking the trades at a good point in the cycle.
Or, maybe I have just been lucky.
Or, maybe a currency is strong relative to another for good reasons and that this strength is likely to last for a while. Buying that strength will lead to good results if done consistently?
I don't really know yet. All I can say so far is this; the method is working for me, for now.
- #1,365
- Nov 19, 2008 1:44am Nov 19, 2008 1:44am
That is what happened, yes.
I have just started work on automating the tp setting in my ea - should be available soon as it is not difficult to do.
Or do you only use this EA to make the trades and then trade manually?
{Promotion Removed}
- #1,366
- Nov 19, 2008 2:43am Nov 19, 2008 2:43am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
For those of you using my management ea to manage these basket trades, I have added the function to auto-calculate the tp based on the account balance and the number of trades opened.
Follow the link in my signature to download the latest version and read the details.
Test it on demo first. I have not been able to test it because the markets are flat as a flood plain, but the coding is so simple it cannot be wrong. Just make sure first.
Follow the link in my signature to download the latest version and read the details.
Test it on demo first. I have not been able to test it because the markets are flat as a flood plain, but the coding is so simple it cannot be wrong. Just make sure first.
- #1,368
- Nov 19, 2008 1:19pm Nov 19, 2008 1:19pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
I have added a basket trade jumping stop loss routine to my management ea, that can double up as a simple break-even function. Details on page 4 of the instructions - follow the link in my sig to download these and the ea.
I know the routine works ok because I have been using the function today, but cannot 'test it to destruction' before release because that would take too long. Please post in the thread if you notice anything not working properly.
I know the routine works ok because I have been using the function today, but cannot 'test it to destruction' before release because that would take too long. Please post in the thread if you notice anything not working properly.
- #1,370
- Nov 19, 2008 5:15pm Nov 19, 2008 5:15pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
My question...I have been through every single post on RS part 1 and 2 but have been unable to nail down the most recent version of two indicators, both developed by Ferrufx....
Good luck.
- #1,373
- Nov 20, 2008 5:20am Nov 20, 2008 5:20am
- Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts
MT4/MT5 EAs/Indicators/Alerts coder
- #1,374
- Edited 6:14am Nov 20, 2008 5:58am | Edited 6:14am
- | Joined Nov 2006 | Status: Trader | 1,143 Posts
I have added a basket trade jumping stop loss routine to my management ea, that can double up as a simple break-even function. Details on page 4 of the instructions - follow the link in my sig to download these and the ea.
I know the routine works ok because I have been using the function today, but cannot 'test it to destruction' before release because that would take too long. Please post in the thread if you notice anything not working properly.
ManagementStyle=You can select more than one option
ManageByMagicNumber=1
MagicNumber=121314
ManageAllTrades=1
GOC=----Global order closure settings----
GlobalOrderClosureEnabled=1
ProfitInDollars=1
DollarProfit=10.00000000
ManageBasketTrades=1
bin5=Basket take profit settings
BasketClosureTP=1
BasketTPinDollars=1
BasketDollarTP=10.00000000
BasketTrailingStop=1
BasketTsAtProfit=1.00000000
BasketTrailPercent=75
So it only handles Total TP and Trailing Stop basket but it looks like it closed basket I had open at -$12. Are my settings wrong? for some reason your EA is closing my basket at a loss ?? sometimes. It says they were closed by TrailingStop
Thank you
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
- #1,375
- Nov 20, 2008 5:35pm Nov 20, 2008 5:35pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Hey Steve, great EA but have a problem. I have the EA only set True for;
ManagementStyle=You can select more than one option
ManageByMagicNumber=1
MagicNumber=121314
ManageAllTrades=1
GOC=----Global order closure settings----
GlobalOrderClosureEnabled=1
ProfitInDollars=1
DollarProfit=10.00000000
ManageBasketTrades=1
bin5=Basket take profit settings
BasketClosureTP=1
BasketTPinDollars=1
BasketDollarTP=10.00000000
BasketTrailingStop=1
BasketTsAtProfit=1.00000000
BasketTrailPercent=75
So it only handles Total TP and Trailing Stop basket but it looks...
From what I read in your post, I can't see what the problem is, but here qre a couple of observations:
- That the trailing stop doesn't work properly is well documented, so set this to false and do not use it. I cannot see what is wrong. The basket jumping stop routine I have added seems to work ok, so try downloading the latest version and see if this helps.
- An ES basket of mine hit its tp earlier today. When I came to enter the next basket of trades, these were closed only a few seconds into the process. I now remove the ea after a profit take or loss close to make sure this does not happen again. It looks as though I need to add a re-initialisation routine whenever there are no trades for the ea to monitor. The difficulty here is that the ea is now very complex. When I started writing it, my documentary style was less clear than it is now - experience has taught me much. Writing a re-initialisation routine that is robust will take a while.
You appear to have ManageAllTrades turned on. Turn this off as this causes the ea to attempt to manage all outstanding trades as individual entities.
- #1,380
- Dec 4, 2008 4:35pm Dec 4, 2008 4:35pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
I take it by the silence that interest in this methodology has died. Must not be profitable.
It is a simple method. FerruFx's indi made it even more effective. There is no need to tweak it into oblivion; this is why not much happens here now.
Kan Gun has developed relative strength basket trading into xxxJPY pairs from ideas he gained here. Go to http://www.forexfactory.com/showthread.php?t=123284 for a read - you won't be sorry.