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Relative Strength Basket Trading System

  • #1,541
  • Dec 8, 2008 4:45am Dec 8, 2008 4:45am
Quoting eddiemiller
Hows that working for you Steve? Seems the market is very choppy today.

Eddie
It's had a struggle but appears to moving in the right direction now. I have a +200 tp set, so we shall see.

Attached Image (click to enlarge)
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  • #1,542
  • Dec 8, 2008 4:45am Dec 8, 2008 4:45am
  •  bengong
  • | Joined Jun 2008 | Status: oalaaaahhhhhhhhh yo yoooooooo...... | 38 Posts
Quoting eddiemiller
Posted this before... works like a dream. Please make sure you restart MT4 after adding it in.

Eddie
u're the man eddie... just like u said.. it's works like a dream
  • #1,543
  • Dec 8, 2008 5:10am Dec 8, 2008 5:10am
Quoting SteveHopwood
It's had a struggle but appears to moving in the right direction now. I have a +200 tp set, so we shall see.


Down she goes.... did warn you. (not a difference of 10 so far today)
I traded twice -£18 down which is 10% of account.

Perhaps a new rule would be "don't trade Mondays or Fridays"!

LOL

Eddie
  • #1,544
  • Dec 8, 2008 5:17am Dec 8, 2008 5:17am
It seems to be tracking a difference of 6 all day.

Eddie
  • #1,545
  • Dec 8, 2008 5:19am Dec 8, 2008 5:19am
Quoting eddiemiller
Down she goes.... did warn you. (not a difference of 10 so far today)
I traded twice -£18 down which is 10% of account.

Perhaps a new rule would be "don't trade Mondays or Fridays"!

LOL

Eddie
True, every monday is loses for me. This monday is too.
One more interesting thing, today on demo I have profit on live - lose.
  • #1,546
  • Dec 8, 2008 5:54am Dec 8, 2008 5:54am
Quoting LT man
True, every monday is loses for me. This monday is too.
One more interesting thing, today on demo I have profit on live - lose.

Same trades same times?

If so can you post that and let us all know who your broker is.

Eddie
  • #1,547
  • Dec 8, 2008 6:04am Dec 8, 2008 6:04am
Three trades today, entering manually on only the strongest/weakest pair.

Made the mistake of not checking the spreads on GBP-NZD and finding too late it was 110 pips instead of 10 (no where near the news). Two hours of nervous waiting later, the currency has sunk into a moderate profit. I think without the indicators I would have bailed out early for a loss of a few percent. Spreads on this pair are really spikey, 30-60-110-30 in only a few moments. (never moved in my favour of course)

Note to self: Indicators are great, but PAY ATTENTION.

Meanwhile I missed what looked like some good solid JPY action.
  • #1,548
  • Dec 8, 2008 6:05am Dec 8, 2008 6:05am
Here is a good example of a confusing trade.

The numbers differ by .4!

The line is Up and suggests STRONG - sell (and has done for the last 35 minutes)

My indi' say 79% up (Strong) differing from all the above.... mixed signals.



Eddie
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  • #1,549
  • Dec 8, 2008 6:10am Dec 8, 2008 6:10am
Quoting SteveHopwood
My first of the week. Happy trading, everyone.

did you short after the white indicator in the middle was overbought and after the first small crossover in the indicator in the bottom? did you took in consideration for this trade the indicator in the top too?

and please i am not 100% sure of wich indicators are used to creat this. Could you please post a templete?

thanks in advance.
  • #1,550
  • Dec 8, 2008 6:40am Dec 8, 2008 6:40am
KG RS Group

I am not sure if this does in part what I am after......

I wanted to know if it is possible to create an indicator that shows:

- All JPY pairs, showing strong/weak for each pair and the difference in the numbers

So you would have something like:

USD - [Strong] 11 <<<< good to trade
EUR - [Strong] 6 <<< NO TRADE
GBP - [WEAK] 5 <<< NO TRADE
CHF - [Strong] 8 <<< NO TRADE
CAD - [WEAK] 11 <<<< good to trade
NZD - [Strong] 10 <<<< good to trade
AUD - [Strong] 13 <<<< good to trade

This is an extension on the idea I had previously showing how many of each pair were strong/weak.

This would make easier to read and more concise information with out having to run several indicators on each chart.

- As I am not a coder this isn't something I can achieve on my own.... KG/Steve any chance?

Eddie
  • #1,551
  • Dec 8, 2008 6:42am Dec 8, 2008 6:42am
hi guys.

did some one try to change the way CCFP calculate the strength and weakness of the pairs?

i think that we should check other indicators , can some one modify this one , so we can see all the pairs with other indicators?
  • #1,552
  • Dec 8, 2008 6:44am Dec 8, 2008 6:44am
Hello Thread'
I use KG setting on EMA and modified a little on its period to become 24;72;120 so now we have price average for a day, 3 days, and a week.
See picture on attachment ( I attached GBPJPY, EURJPY, and AUDJPY)
Looks like we have new trend direction for xxxJPY pair. These MA work great in defining the trend.I think have a clear understanding about the trend could help us picking the right signal to trade, and furthermore maybe we can still trade on mondays and fridays hehe...
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  • #1,553
  • Dec 8, 2008 7:09am Dec 8, 2008 7:09am
Quoting eddiemiller
Down she goes.... did warn you. (not a difference of 10 so far today)
I traded twice -£18 down which is 10% of account.

Perhaps a new rule would be "don't trade Mondays or Fridays"!

LOL

Eddie
And thar she blew again. Thing is, I was trading with the longer-term strength of JPY.

That is a nice +2%. All I have to do is repeat this every day for a couple of years and I will be rich.

Attached Image (click to enlarge)
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  • #1,554
  • Dec 8, 2008 7:17am Dec 8, 2008 7:17am
Quoting Anggara
Hello Thread'
I use KG setting on EMA and modified a little on its period to become 24;72;120 so now we have price average for a day, 3 days, and a week.
See picture on attachment ( I attached GBPJPY, EURJPY, and AUDJPY)
Looks like we have new trend direction for xxxJPY pair. These MA work great in defining the trend.I think have a clear understanding about the trend could help us picking the right signal to trade, and furthermore maybe we can still trade on mondays and fridays hehe...
Hi Anggra,
On what basis you decided on the BUY entry on GBP/JPY (first shot), please?
  • #1,555
  • Edited 8:17am Dec 8, 2008 8:16am | Edited 8:17am
Quoting SteveHopwood
And thar she blew again. Thing is, I was trading with the longer-term strength of JPY.

That is a nice +2%. All I have to do is repeat this every day for a couple of years and I will be rich.

Steve,

This is what I was getting at above - one of the pairs is a clear winner.... if only you could fish these out with out having to trade all the crap......

I note you only have 6 trades not 7... I wonder what the basket would look like with the missing one?

Also I see you have a half green half red connection logo..... on mine that means error. Shouldn't it be half blue?

Can you show in pips on your charts rather than £/$'s etc? You still get a total but it is easier to see the gain loss.......



Eddie
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  • #1,556
  • Edited 8:21am Dec 8, 2008 8:19am | Edited 8:21am
Quoting jeff jordan
Hi Anggra,
On what basis you decided on the BUY entry on GBP/JPY (first shot), please?
Salam Jeff'

I take long merely on cross [wabane] hehehe, on RS GROUP JPY, and the position of GBP and JPY in KG RS GROUP, realize that it is a fake cross, I'm hedging it, open a short position but still leave my long position open, because GBP is still weaker than JPY but heading up and vice versa.
close my short and open another buy at 137.78. So know i have 2 long position on GBPJPY.

still waiting the final result

cheers'
  • #1,557
  • Dec 8, 2008 8:39am Dec 8, 2008 8:39am
Quoting eddiemiller
I wanted to know if it is possible to create an indicator that shows:

- All JPY pairs, showing strong/weak for each pair and the difference in the numbers

So you would have something like:

USD - [Strong] 11 <<<< good to trade
EUR - [Strong] 6 <<< NO TRADE
GBP - [WEAK] 5 <<< NO TRADE
CHF - [Strong] 8 <<< NO TRADE
CAD - [WEAK] 11 <<<< good to trade
NZD - [Strong] 10 <<<< good to trade
[color=darkgreen]AUD...
I was just about to post a similar question. When I calculated all this by hand my spreadsheet gave me the following table of overall Strength/Weakness. I then simply entered the given pair at a decent pullback.

However, I was just using EOD data, so no MTFs to think about. I'm looking at the numbers of KG_INSWX_MTF_V1.1. It's the one indicator I haven't worked out a use for. Can we develop this in some way?

Also, second wish list item, would anyone be kind enough to put an x/y offest on the KG_TREND_MTF_MULTIPAIRS??

Pretty please....
Attached Image
  • #1,558
  • Dec 8, 2008 8:45am Dec 8, 2008 8:45am
All in all, 3 out of 3 for the day, up 2.1%.

Crappy Risk/Reward on the GBP-NZD trade, but frankly I was lucky to close at a profit. Was down 4% in some moments as spread was going haywire. Thank god I didn' t have a stop loss....

The others were OK, minimal drawdown beyond the spread.

Quoting SteveHopwood
All I have to do is repeat this every day for a couple of years and I will be rich.
Sounds about right !!
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  • #1,559
  • Dec 8, 2008 8:48am Dec 8, 2008 8:48am
Quoting elchoco
I was just about to post a similar question. When I calculated all this by hand my spreadsheet gave me the following table of overall Strength/Weakness.
Very time consuming to do by hand and EOD data isn't as accurate for short term trades as hourly etc. If you in it for a 5 day play then yes, but day trading .... no no no!


Also from your calculation you don't see clearly the difference on the "10 rule".

The idea of this is to get the PC to do the work so that us humans can digest it and act.....

Refining further the indi's in place rather than chasing on to new ones is important otherwise we may miss the obvious whilst pursuing the pot of gold.... (and the rainbow).....

Doe that make sense?

Eddie
  • #1,560
  • Dec 8, 2008 9:03am Dec 8, 2008 9:03am
Quoting eddiemiller
Steve,

This is what I was getting at above - one of the pairs is a clear winner.... if only you could fish these out with out having to trade all the crap......
I thought that was the point of trading a basket, Eddie - let the good trades take care of the bad and treat the whole basket as though it were an individual trade. That is what I do, and rather successfully so far.

Quote
I note you only have 6 trades not 7...
That is because the broker is IBFX - doesn't do cadjpy.

Quote
I wonder what the basket would look like with the missing one?
Dunno.

Quote
Also I see you have a half green half red connection logo..... on mine that means error. Shouldn't it be half blue?
Dunno Eddie. Twas connected, for sure.

Quote
Can you show in pips on your charts rather than £/$'s etc? You still get a total but it is easier to see the gain loss.......
No, I can't. This was a closed, successful basket trade stored in the history tab. IBFX only shows these in $.

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