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Relative Strength Basket Trading System

  • #1,581
  • Dec 8, 2008 11:06pm Dec 8, 2008 11:06pm
Quoting SteveHopwood
My first of the week. Happy trading, everyone.

Hey Steve,

Trader1 (FXAW) here. Are you using your Trade Manager Basket settings to close out your positions? I'm just wondering how it works for you. I've tried it on one other EA unsuccessfully. Any pointers you could give me?

1Trader2
  • #1,582
  • Dec 8, 2008 11:22pm Dec 8, 2008 11:22pm
Quoting eddiemiller
I decided not to trade it as I was going out and doubt had set in. I was wrong to not trade it.......

.... less than an hour later the price headed down almost all the way....

The same is true no so I got it very early and am suffering the expected loss at the moment.... she gona fall at some point over night and when it does I shall see....

for now I need some sleep.

Eddie
Dude, i see from your image, yen is strong. That means you had to short all the yen pairs instead of buy.
  • #1,583
  • Dec 9, 2008 2:14am Dec 9, 2008 2:14am
Quoting dznmrd
Dude, i see from your image, yen is strong. That means you had to short all the yen pairs instead of buy.
Not for the purpose of this test. I am again testing "Steve's Law" where I am looking to get in in early and then ride it down with the theroy that the price will go with me at some point.

I tested it the other day (only testable when the lines are near top/bottom) and it came very good in the end.

Now I have marked my entry on the current chart, and it has gone down - up - down - up - flat and there has been some devaluation on the chat again ( was -£20.00 at last post 8 hours back), current is -£41.00.

So today I get to watch the action knowing that the line will come down, I just wonder what level of devaluation has occurred.

This is a longer term trade than the +/-10, STRONG/WEAK, 50% Line trades that everyone else is trading here.

Eddie
Attached Image (click to enlarge)
Click to Enlarge Name: 09122008_0808.gif Size: 91 KB
  • #1,584
  • Dec 9, 2008 4:24am Dec 9, 2008 4:24am
Quoting LisbonHugo
It seems that you are mentally challenged, but please ask the person helping you on the internet, to reduce the font size please. At least on this thread... Thank you!
this is for you..are you happy now...
thanx even for nothing...dude.
  • #1,585
  • Dec 9, 2008 4:26am Dec 9, 2008 4:26am
Quoting jeff jordan
deadsoul,
attached are the updated indicators.
thank you kindly for your help...
you are the man..
  • #1,586
  • Dec 9, 2008 5:04am Dec 9, 2008 5:04am
Eddie's trade should have turned into profit by now. I am in at the bottom of the range, looking for the Yen to recover against the rest of the basket.

Attached Image (click to enlarge)
Click to Enlarge Name: jpy basket.gif Size: 49 KB
  • #1,587
  • Dec 9, 2008 5:17am Dec 9, 2008 5:17am
Quoting SteveHopwood
Eddie's trade should have turned into profit by now. I am in at the bottom of the range, looking for the Yen to recover against the rest of the basket.

GOT GREEN HUH !!!

hehehehehhee only a few minutes..

KG
  • #1,588
  • Dec 9, 2008 5:23am Dec 9, 2008 5:23am
Quoting SteveHopwood
Eddie's trade should have turned into profit by now. I am in at the bottom of the range, looking for the Yen to recover against the rest of the basket.

Still using the 1H main chart.

Well that was what I was thinking, but there is something else going on as well..... so far it is not as clear as we decided!

The vales were coming down.... I messed up myself half way just before it turned as it went plus 10, down weak, white line below all others.... then it reversed......

The yellow values on the chart are before the second basket......

even thought it was coming down it was getting devalued somewhere... this may be down to the different spread values the broker offers.. some are shorter than others.

I did notice on the last reverse the magic numbers to the left of the RS_Group bothe fell... they were above 40.xxx 31.xxx, then they both fell in a few seconds to 20.xxx 20.xxx - no warning.

Current (with 2 baskets open - both BUY) at -£50 with the biggest loss from the first basket GBPJPY closed as it was not looking from the chart that it would (could?) recover.

Current signal is STRONG > difference of 4

I get the feeling this is going to be a £200.00 wipe out.

Going to the pub for lunch... what ever will be will be!

Eddie
Attached Image (click to enlarge)
Click to Enlarge Name: 09122008_1115.gif Size: 67 KB
  • #1,589
  • Dec 9, 2008 5:29am Dec 9, 2008 5:29am
Quoting eddiemiller
#1550 - http://www.forexfactory.com/showpost...postcount=1550

Eddie
Eddie,

I will try to code it maybe tomorrow i'm still got fever now, but how you will define the strength that is not good to trade.

Thanks

KG
  • #1,590
  • Dec 9, 2008 6:15am Dec 9, 2008 6:15am
I was just wondering if you could add an option that allowed the user to set the strength that they wanted the trades to be taken at.

e.g instead of 10 at 6 up wards or 7

Also the ability to prevent certain pairs from being opened. This would stop the elusive pairs from coming into play.

I guess the second one will be the most complicated to instigate.

Oh and it is a great bit of coding that you have achieved not seen it around before.

I understand that you will only code those elements that you agree to and so will await your reply.
  • #1,591
  • Dec 9, 2008 6:34am Dec 9, 2008 6:34am
Quoting Kang_Gun
Eddie,

I will try to code it maybe tomorrow i'm still got fever now, but how you will define the strength that is not good to trade.

Thanks

KG
KG - Many thanks for taking a look. I know if anyone can achieve this you can.

I would based the trades on the ones in the example below as GREEN good, RED no, based on the "10 difference" in the numbers. You may want to code it so that this is an option, letting users set their own levels. I have found from my trades that 10 is "safer" than say 4.

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

So above shows if it is strong/weak in line with current rules AND the colour and number reflects the current difference. I would therefore only open 4 of the 7 trades based on the information at the time.

This will result in not a full basket being traded. I understand fully that the idea of a basket trade is that it balances out - this idea is in effect a "safe" or s"super" basket where more positive pairs are traded leaving out the less strong/positive pairs, hopefully putting albeit a smaller basket in a more positive position from open reducing the DD

- "backing the more likley looking winners at the moment in time" -

Eddie
  • #1,592
  • Dec 9, 2008 7:50am Dec 9, 2008 7:50am
  •  bengong
  • | Joined Jun 2008 | Status: oalaaaahhhhhhhhh yo yoooooooo...... | 38 Posts
Quoting amr10000
I was just wondering if you could add an option that allowed the user to set the strength that they wanted the trades to be taken at.

e.g instead of 10 at 6 up wards or 7

Also the ability to prevent certain pairs from being opened. This would stop the elusive pairs from coming into play.

I guess the second one will be the most complicated to instigate.

Oh and it is a great bit of coding that you have achieved not seen it around before.

I understand that you will only code those elements that you agree to and so will await your reply.

just check the ask manual confirm when u used the scripts... that way u can choose which pairs u want to trade
  • #1,593
  • Dec 9, 2008 8:12am Dec 9, 2008 8:12am
I would based the trades on the ones in the example below as GREEN good, RED no, based on the "10 difference" in the numbers. You may want to code it so that this is an option, letting users set their own levels. I have found from my trades that 10 is "safer" than say 4.

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

So above shows if it is strong/weak in line with current rules AND the colour and number reflects the current difference. I would therefore only open 4 of the 7 trades based on the information at the time.

This will result in not a full basket being traded. I understand fully that the idea of a basket trade is that it balances out - this idea is in effect a "safe" or s"super" basket where more positive pairs are traded leaving out the less strong/positive pairs, hopefully putting albeit a smaller basket in a more positive position from open reducing the DD

- "backing the more likley looking winners at the moment in time" -

Eddie
[/quote]


No disrespect to KG but this looks like coding right up FerruFx alley
  • #1,594
  • Dec 9, 2008 9:58am Dec 9, 2008 9:58am
KG,
I have been blown-away by this superb system,tis truely magical for me because I started trading it with my live account and I'm "cool".Eddie,Steve and Hagr you guys made it better.Thanks alot.
  • #1,595
  • Dec 9, 2008 10:01am Dec 9, 2008 10:01am
Quoting enoh james a
KG,
I have been blown-away by this superb system,tis truely magical for me because I started trading it with my live account and I'm "cool".Eddie,Steve and Hagr you guys made it better.Thanks alot.
cool ..care to share your strategy ?is it the "10" rule or something else ?
thank you
  • #1,596
  • Dec 9, 2008 10:49am Dec 9, 2008 10:49am
Just to let you know, my basket hit it $2 tp earlier. I wasn't able to catch the market on its way down because I had to go out.

Right now I am just waiting for the JPY line to head north a bit, then I will go strong again.

Attached Image (click to enlarge)
Click to Enlarge Name: jpy basket.gif Size: 49 KB
  • #1,597
  • Dec 9, 2008 10:52am Dec 9, 2008 10:52am
"10" is the magic number ><.It sure work like fine wine dear for now.{remember our craft is forex trading and it is uncertain at times}.
  • #1,598
  • Dec 9, 2008 10:55am Dec 9, 2008 10:55am
Early days but i think my entry signals are looking good. I am not trading the whole basket(s) as i find it easy to handle single trades etc.
Attached File(s)
File Type: zip DetailedStatement.zip   6 KB | 351 downloads
  • #1,599
  • Dec 9, 2008 11:16am Dec 9, 2008 11:16am
Quoting mt41969
Early days but i think my entry signals are looking good. I am not trading the whole basket(s) as i find it easy to handle single trades etc.
I was wondering if you had a chance to look into the request I made earlier regards your script.
  • #1,600
  • Dec 9, 2008 11:17am Dec 9, 2008 11:17am
Quoting enoh james a
"10" is the magic number ><.It sure work like fine wine dear for now.{remember our craft is forex trading and it is uncertain at times}.
I can only tell you from my experience that it seems much less likely to reverse when it is 10 +/- either way.......

Eddie
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