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Relative Strength Basket Trading System

Quoting SteveHopwood
Here is a basket I took when JPY reached nearly the bottom of the range. Looking good.

Nice... and how about your longterm trade still open?

Thanks

KG
Quoting Kang_Gun
Hi All,


And I think we need a volunteer to be a moderator when we discuss about Entry and Exit rules. Any suggestion who will be a moderator?

Thank's

KG

.
I would suggest Eddie or Harigp to be a moderator, they are active, clever, and devoted persons! Guys, do not let me down, please!
Quoting jeff jordan
I would suggest Eddie or Harigp to be a moderator, they are active, clever, and devoted persons! Guys, do not let me down, please!

i would suggest Harigp to be the moderator,because he has been following the

thread from Es trader.
Hi KG

First Thanks Jeff for the kind words

KG what is the exact role of the moderator, Since I am having full time job do
the members think that I will be able to do justice to the job as moderator
Quoting harigp
Hi KG

First Thanks Jeff for the kind words

KG what is the exact role of the moderator, Since I am having full time job do
the members think that I will be able to do justice to the job as moderator

I am always here (I have no life) just the charts

Eddie
Hi Eddie

I support Eddie

By the way good performance in M 30 Frame
Quoting harigp
Hi Eddie

I support Eddie

By the way good performance in M 30 Frame
You out trade me fella by a mile.... I am showing a £12.50 loss for the day.

I think that you would be better placed to moderate.

Eddie
Can I just ask si there a reason we play the xxx/JPY basket as opposed to xxx/USD or xxx/EUR?

JPY is certainly the safe bet next to the $ but looking at the charts I think this would be a safer play.

KG -- what would it take to re-code this for the $?

Eddie
This coding seems to be very profitable. Strong is 60 and Weak is 40.

if(Trade_JPY_Basket)
{
if( iCustom(NULL, 0, "RS_GROUP_JPY V1.0", 1, 0) < Weak_Signal &&
iCustom(NULL, 0, "KG RS GROUP", 1, 0) < Weak_Signal &&
iCustom(NULL, 0, "RS_GROUP_JPY V1.0", 1, 0) - iCustom(NULL, 0, "RS_GROUP_JPY V1.0", 0, 0) < -10 )
{
symbol="AUDJPY";
if(!TradeExists(symbol)) SendOrder(symbol,OP_BUY);
symbol="CADJPY";
if(!TradeExists(symbol)) SendOrder(symbol,OP_BUY);
symbol="CHFJPY";
if(!TradeExists(symbol)) SendOrder(symbol,OP_BUY);
symbol="EURJPY";
if(!TradeExists(symbol)) SendOrder(symbol,OP_BUY);
symbol="GBPJPY";
if(!TradeExists(symbol)) SendOrder(symbol,OP_BUY);
symbol="USDJPY";
if(!TradeExists(symbol)) SendOrder(symbol,OP_BUY);
symbol="NZDJPY";
if(!TradeExists(symbol)) SendOrder(symbol,OP_BUY);
}
if( iCustom(NULL, 0, "RS_GROUP_JPY V1.0", 1, 0) > Strong_Signal &&
iCustom(NULL, 0, "KG RS GROUP", 1, 0) > Strong_Signal &&
iCustom(NULL, 0, "RS_GROUP_JPY V1.0", 1, 0) - iCustom(NULL, 0, "RS_GROUP_JPY V1.0", 0, 0) > 10 )
{
symbol="AUDJPY";
if(!TradeExists(symbol)) SendOrder(symbol,OP_SELL);
symbol="CADJPY";
if(!TradeExists(symbol)) SendOrder(symbol,OP_SELL);
symbol="CHFJPY";
if(!TradeExists(symbol)) SendOrder(symbol,OP_SELL);
symbol="EURJPY";
if(!TradeExists(symbol)) SendOrder(symbol,OP_SELL);
symbol="GBPJPY";
if(!TradeExists(symbol)) SendOrder(symbol,OP_SELL);
symbol="USDJPY";
if(!TradeExists(symbol)) SendOrder(symbol,OP_SELL);
symbol="NZDJPY";
if(!TradeExists(symbol)) SendOrder(symbol,OP_SELL);
}
}
So where do we go from here.

So far I have the following rule set:

1. NEVER trade the JPY session - it is too volatile
2. On the RED/WHITE it must say STRONG/WEAK and be over the 75 mark
3. On the multi coloured chart the white line MUST be either above or below all others

On my bottom chart I can see the numbers relating to the direction. I no no longer trade unless there are in my favour.

For example

UP=10 Eq=1 Dn-17 --- not good

Up=1 Eq=2 Dn=19 ----- good

Up=17 Eq=3 Dn=2 ----- good

This acts as my "fail safe"

The two things that still haven't been seen are:

1. How to spot a fake. Having got into a few baskets to find it reversed. If you look at each chart then it is possible to see what is going on, but then you may as well just trade one pair. Looking at all the charts (or not all of the charts) mean you are now trading many pairs. Many full time traders stick to 1 or 2. The idea of trading a basket is to balance it out.

2. Knowing when to get in (as above) AND out. Greed plays a part here and for on going quotes would it not be better to talk in POINTS only? I may well trade a 0.01 lot which is only worth 10% of a 0.1 lot.

I also think the following needs considering:


A. Based on this if you want to make $10 or £15 (see what I did there?) each day should you play it safe or use the bigger lot? It's more work isn't it?

B. As I mentioned in a earlier post it may be worth adapting that indicator (noted to KG) to show how many of the pairs the STRONG/WEAK applies to.

For instance if the JPY is strong on all but one pair then it's is a better trade than on only 3!

C. I would also like to know for how long the previous signal has been on. E.G has it been strong for 2 minutes or 20? This would help knowing how long term that signal has been,


Eddie
Quoting Kang_Gun
Nice... and how about your longterm trade still open?

Thanks

KG
Today's basket stopped out at +210.

The long-term basket is meandering between about +1,700 and +2,700, depending on where JPY is in the range. I am looking forward to seeing what happens when the price breaks out, as I expect it to break out on the upside. Then again, this is forex, so we never know.

Quoting SteveHopwood
Today's basket stopped out at +210.

The long-term basket is meandering between about +1,700 and +2,700, depending on where JPY is in the range. I am looking forward to seeing what happens when the price breaks out, as I expect it to break out on the upside. Then again, this is forex, so we never know.


Steve

Can you remind me of your setup to get the +210 pips today please.

Eddie
I just wanted to share this little "trick" that I have been using for the last couple of hours with excellent results.

Do everything as normal... then when you get one n the basket that takes off (and there is always one) manually open another trade in the same direction.

in my example below the AUD and CAD were doing well so I looked at the charts for each and then opened another trade (in the same direction) which I will close around 10 - 20 pips.

If you are using the trade Manger or another profit loss tool be careful when closing you dont kill yout other trades.

I remember the days when 10 - 20 pips was a good days work.......

Eddie
Attached Image (click to enlarge)
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Quoting eddiemiller
So where do we go from here.



UP=10 Eq=1 Dn-17 --- not good

Up=1 Eq=2 Dn=19 ----- good

Up=17 Eq=3 Dn=2 ----- good


Eddie

Eddie, eddie, eddie,
slow down a little bit, be easy on us, let us first try to "digest" the new indi's, please.

what are these numbers, please?

Jeff
Quoting jeff jordan
Eddie, eddie, eddie,
slow down a little bit, be easy on us, let us first try to "digest" the new indi's, please.

what are these numbers, please?

Jeff
This is just reference to the indicator that I use (posted before)

Eddie
Attached Image (click to enlarge)
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Quoting eddiemiller
Steve

Can you remind me of your setup to get the +210 pips today please.

Eddie
Ehup Eddie

JPY had flatlined towards the bottom of the range for a while, so I figured it was about to gain strength again.

The price reached +410 before falling back to hit the +210 jumping stop my ea had set. After that, it screamed back upwards - not sure how many pips I would have made without the js but it would have been more than 210.

Never mind. As you said in a recent post, 20 pips in a day once represented a good days work. 200 seemed inconceivable.

Quoting SteveHopwood
Ehup Eddie

JPY had flatlined towards the bottom of the range for a while, so I figured it was about to gain strength again.

The price reached +410 before falling back to hit the +210 jumping stop my ea had set. After that, it screamed back upwards - not sure how many pips I would have made without the js but it would have been more than 210.

Never mind. As you said in a recent post, 20 pips in a day once represented a good days work. 200 seemed inconceivable.

Agreed.

Did you try the EA I posted that seems to lock in a bit more profit?

post #1223

http://www.forexfactory.com/showpost...postcount=1223

Eddie
Quoting eddiemiller
Steve

Can you remind me of your setup to get the +210 pips today please.

Eddie
This looks like the same setup again. Not so sure about taking a punt again, as we are nearing the close of NY and the opening of the Asian session/

Attached Image (click to enlarge)
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Decided to enter. I checked and there is not much JPY news tomorrow. We shall see.

Quoting SteveHopwood
This looks like the same setup again. Not so sure about taking a punt again, as we are nearing the close of NY and the opening of the Asian session/

Steve there are 10 bit of important news noted for tomorrow so possibly not a time to take a punt... or big gains to be had?

Eddie
Attached Image (click to enlarge)
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