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Relative Strength Basket Trading System

  • #861
  • Nov 25, 2008 4:00pm Nov 25, 2008 4:00pm
My chart is.......
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  • #862
  • Nov 25, 2008 4:08pm Nov 25, 2008 4:08pm
Quoting eddiemiller
Rules for use

[STRONG] RS_Group_JPY V1.0 - White line crosses ABOVE red line AND above 50% line - KG RS Group shows white line going above all others (or near to top)

[WEAK] RS_Group_JPY V1.0 - White line crosses BELOW[b][color=darkred][font=Verdana]...
Imagine you get a sell signal on t-1. That means white goes over red for strong and white crosses all other pairs and 50. All that happened in t-1 or the last hour. In the current hour jpy becomes very weak. The consequence is that the white line in both indicator windows turns heavily down. In this case it can be that the crosses in t-1 disappear because the slope in t-1 and t0 (current hour) are linear alignet. You see the problem?
  • #863
  • Nov 25, 2008 4:10pm Nov 25, 2008 4:10pm
Quoting MCFly
Imagine you get a sell signal on t-1. That means white goes over red for strong and white crosses all other pairs and 50. All that happened in t-1 or the last hour. In the current hour jpy becomes very weak. The consequence is that the white line in both indicator windows turns heavily down. In this case it can be that the crosses in t-1 disappear because the slope in t-1 and t0 (current hour) are linear alignet. You see the problem?
I see - KG where are u? PROBLEM!!!!!!!

Eddie
  • #864
  • Nov 25, 2008 4:26pm Nov 25, 2008 4:26pm
Quoting eddiemiller
Rules for use

[STRONG] RS_Group_JPY V1.0 - White line crosses ABOVE red line AND above 50% line - KG RS Group shows white line going above all others (or near to top)

[WEAK] RS_Group_JPY V1.0 - White line crosses BELOW[b][color=darkred][font=Verdana]...
eddi,
as far as I understand it the crossing above or below the 50 line is refered to the KG RS GROUP!
and the rule of the RS Group JPY
a- to be STRONG or WEAK
b- CROSSING regardless of it is above or below the 50 line there. It might be stronger or weaker below or above the 50 line.

This might need some confirmation and/or clarification from KG.

Jeff
  • #865
  • Nov 25, 2008 4:42pm Nov 25, 2008 4:42pm
Quoting MCFly
Imagine you get a sell signal on t-1. That means white goes over red for strong and white crosses all other pairs and 50. All that happened in t-1 or the last hour. In the current hour jpy becomes very weak. The consequence is that the white line in both indicator windows turns heavily down. In this case it can be that the crosses in t-1 disappear because the slope in t-1 and t0 (current hour) are linear alignet. You see the problem?
Just because something has been happening does not mean it will continue to happen. By definition, all indicators lag behind actual price action. However brilliant (and the are brilliant) KG's indis are, they are unable to predict the future.

When a seemingly 'obvious' trade instantly turns bad, we have three choices:

  1. Hang on and hope the market turns back in our favour.
  2. Close the position immediately and re-enter in the direction newly suggested by the indis.
  3. Hedge the position by taking out a double-sized basket in the opposite direction.

I have used 1) several times. Actually, hope had little to do with it. I eyeballed individual charts to see what they told me; they convinced me to stay put.

I have used 3) twice. Successful but not comfortable.

I haven't needed 2) yet. I shall, at some point.

What I am saying here can be summarised thus; do not expect KG to do all your thinking for you. When you take out a basket of trades, that basket belongs to you. The decision to take the position or not is yours. There is no such thing as an indi that will fortell the future.

I increased the balance on my demo account by 7% today, courtesy of KG's ideas. This has been great fun and I look forward to more entertainment in the future. KG helped me a lot today by describing what his KG RS Group indi did. That was kind of him, but he didn't need to; I was perfectly happy to spend an hour tonight reading back to see what I had missed.

So, guys, think for yourselves and don't expect KG to do if for you.

  • #866
  • Nov 25, 2008 4:49pm Nov 25, 2008 4:49pm
Quoting SteveHopwood
Just because something has been happening does not mean it will continue to happen. By definition, all indicators lag behind actual price action. However brilliant (and the are brilliant) KG's indis are, they are unable to predict the future.

When a seemingly 'obvious' trade instantly turns bad, we have three choices:[list=1][*]Hang on and hope the market turns back in our favour.[*]Close the position immediately and re-enter in the direction newly suggested by the indis.[*]Hedge the position by taking out a double-sized basket in the...
great post Steve but I must beg to differ cos' the tooth fairy told me this was a future predicting tool.

LOL

Happy trading all.

Eddie
  • #867
  • Nov 25, 2008 5:06pm Nov 25, 2008 5:06pm
So hows everyone doing pre Asian open?
  • #868
  • Nov 25, 2008 5:07pm Nov 25, 2008 5:07pm
Quoting eddiemiller
great post Steve but I must beg to differ cos' the tooth fairy told me this was a future predicting tool.

LOL

Happy trading all.

Eddie
  • #869
  • Nov 25, 2008 5:10pm Nov 25, 2008 5:10pm
Steve - Your Trade Manger is spot on once it's tweaked (or rather once I got the settings in that I like).........

... great way to lock in some profits..... which for me is key....



Eddie
  • #870
  • Nov 25, 2008 5:19pm Nov 25, 2008 5:19pm
Is anyone using the KG MTF EA ?

Reason i ask is because i get some UNKNOWN SYMBOL NAME for ORDERSEND function.

Help ?
  • #871
  • Nov 25, 2008 5:22pm Nov 25, 2008 5:22pm
Quoting mt41969
Is anyone using the KG MTF EA ?

Reason i ask is because i get some UNKNOWN SYMBOL NAME for ORDERSEND function.

Help ?
No thats normal when for what ever reason the price isnt right, so the EA stops itself by throwing up this error.... I will try to find you the post... it's back there somewhere.....

Use the EA on a 0.01 lot as when it's good it amazing and when it's bad it will drawdown HARD.

(speaking from experience)



Eddie
  • #872
  • Nov 25, 2008 5:27pm Nov 25, 2008 5:27pm
Check the following posts

#372

#377

#434

#457 Best Answer

Eddie
  • #873
  • Nov 25, 2008 5:28pm Nov 25, 2008 5:28pm
ok thanks.

is the code available for this EA ?, cause i think i could build in some changes to prevent the drawdowns.

i ran it using 0.1 lots and it made over £400 profit in less than 24 hours but at one point it was -295.

cheers.
  • #874
  • Nov 25, 2008 5:30pm Nov 25, 2008 5:30pm
Quoting eddiemiller
Steve - Your Trade Manger is spot on once it's tweaked (or rather once I got the settings in that I like).........

... great way to lock in some profits..... which for me is key....



Eddie
Brilliant to read, Eddie. Glad it is helping.

  • #875
  • Nov 25, 2008 5:34pm Nov 25, 2008 5:34pm
Quoting mt41969
ok thanks.

is the code available for this EA ?, cause i think i could build in some changes to prevent the drawdowns.

i ran it using 0.1 lots and it made over £400 profit in less than 24 hours but at one point it was -295.

cheers.
You will have to wait for EA to appear (she is usually about for Asian session) if it's not at the top of this page (paper clip, top right).

I also had good results with the EA - Use the Trade Manager which will accomplish the stop loss and profit taking settings you require but remember if you use a stop loss you may kill off the trade before it profits.

It is knowing when to use the EA - I wouldn't just run it.

Personally first hour of Asian and first hour of UK markets in my tests seems to be best.

Eddie
  • #876
  • Nov 25, 2008 5:48pm Nov 25, 2008 5:48pm
On the MTF EA you might want to check the slippage setting.

I had mine on 2 and got lots of errors as the market is fast moving/volatile at times and by the time the order kicks in the price has changed, so I get that error (which is right).

Try making it a higher number (I think the default is 6) but be careful, you want it kinda tight!

Eddie
  • #877
  • Nov 25, 2008 6:15pm Nov 25, 2008 6:15pm
Quoting eddiemiller
I think you are missing the point, or your not making yourself clear.

What are you asking?

Are you asking why the trade went into profit and then over time went negative?

Eddie
hello eddie,

yes, correct Eddie
It is so fast become positive into negative..

and i just tell everyone how my progress is.
right now -$153

thanks
  • #878
  • Nov 25, 2008 6:26pm Nov 25, 2008 6:26pm
crushbeat - are you using the Trade Manager?

It will let you lock in profits - grab it from the paper clip top left and there you will also find the PDF with full settings (also .set files are posted in this thread)

Eddie
  • #879
  • Nov 25, 2008 6:30pm Nov 25, 2008 6:30pm
I was about to go to bed when I decided to look for one last time at my KG demo account. Instantly, I spotted a sell opportunity. My ea has already locked in a couple of hundred pips. Nice.

Ok, so piling in loads of pips is rather lovely - I am not knocking the activity.

More to the point is the lead this gives me for the future. What I mean is this: I had read in these forums the 'simple' concept that a currency is weak because another pairing with it is strong. Buy the strong or sell the weak - doesn't matter which.

Until now, I had not fully understood this. Maybe I still don't but I feel I am getting a handle on things at last.

Thanks KG. You are a star.

My last basket? Several hundred pips up with several hundred locked in. Very nice.

  • #880
  • Nov 25, 2008 6:35pm Nov 25, 2008 6:35pm
i think this must be beginners luck for me.
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