Relative Strength Basket Trading System

hi mt
you can measure the strength of the market using KG RS GROUP, there are 2 group of currency there, the first group are USD JPY CHF CAD, the second group are EUR GBP AUD NZD, if you look at the KG RS GROUP you will find that KG has arranged based on that one
each currency have to be in the same strength level or tend to be in the same level of its group, clear group strength define clear trend, mixed one would bring you a ranging /choppy market
I believe measuring the condition of the market could help us choose the right signal to trade.

sorry for bad English
hope it helps'

Gav

The STRONG/WEAK is the text shown in the box on the first indicator attached below, and as shown in the screen shot.

(the middle indicator isnt on here, it's just something I use)

Eddie

Hi MCFly,
That is fine, but you will never tell wheather it is a retracement or a continuation! At any point of time, the price might make the u turn.
And a gain, we have to go back to the basics there (pivots, resistance and support, Fib etc) to get a clear picture of what might happen, right?
This might be an endless discussion, which is "healthy" and is required for improvement!

Jeff

choppy.........http://i34.tinypic.com/2qv6x4g.gif

hi guys,

any trade for today?
seems the market so quite...

thanks

it's still holiday in Japan..that's why

Not to much happening over the past 8 hours. Hope today will be a better day

hi..

i entered trades..
here is the charts..

thanks

hi guys,

it seems not good..
after 40 minutes, it is going down..
and i got -$289..

thanks

be careful, market is range, today I did just one trade, now just waiting

There is a national holiday in JPY so I would give it a miss today......

Eddie

Hi crushbeat,
looking at the white line crossing down the 50% in KG RS Group, the entry was a little bit late, the line was more that 1/3 the distance to 0.
You may hang on there hoping for revresal and at the same time hedge with double the lots or close and open new basket in the opposite direction.

Just thoughts!

Jeff

I think the strongest signals are given when the white line is crossing the 50. I would have closed the basket immediately after the white line passed the 50.

It's really interesting how the pairs of currencies above 50 and under 50 behave to each other.

Here is an example. CAD goes under 50 from 12 am to 1 pm whereas USD stayed above. The first picture shows the developement of USD/CAD on the 5 min tf. The uptrend started a half hour later.

I think it's a fair and honest post about the ind's and EA's on this thread.

They are very useful and effective tools when deciding to trade Forex market.... however traders must use their own judgment in addition to the tools provide when placing a trade.

Money management and caution should be used whenever trading and the tools only provide (as best as any tool can) a guide as to "how" or "when" to trade,

Losses are an inevitable outcome of trading Forex. Doesn’t matter who you are or what tools you use. Billion dollar institutions suffer losses every day - the market is fluid - money moves. Remember in reality for you to make money someone is losing some.

There is no “holy grail” tool that allows you to bank it and run every day.

Profits are more than possible and reasonable if you trade with care.

Importantly setting up the ind's and EA's to suit your trading style is VERY important. Knowing how to use something as well as knowing what you want to achieve is important.

For instance making 10 pips profit and making $100 is dependent on the risk you are willing to take and what you are basing that risk on.

I regularly trade 0.01 lots and make good profits in line with my money management, I also trade 0.01 lots and make losses - they just don’t hurt as bad.

Demo trading is possibly the most useful feature of most MT4 broker’s accounts, and its well worth trading a Demo account against a real account.....

I hope this helps new and old traders alike, it certainly helps me remember the "rules" both when winning and losing every day.

Regards to all

Eddie

I'm Worried About My Rate Of Faliure With This Strategy.i Think I Have Downloaded The Neccessary Files To Help Me,but Seems Like I Understand So Little.can Any One Help.

the market's behaving strange...giving many false signals..be careful !

@eddie

well said my friend

@enoh

this thread is still short, please read it from the start..you will understand it..
we are still in development phase..so don't worry my friend..we are still here

I'm having a dumb day, can someone help me with setting up this indicator? He's talking about Bollinger Bands, correct? Where do I put the settings in at?

i think it's in navigator menu, choose bands, input-period 120, deviations 1,2,..,6..