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Relative Strength Basket Trading System

  • #2,481
  • Jan 5, 2009 5:26pm Jan 5, 2009 5:26pm
Quoting SteveHopwood
Hehe. Sorry. No, I don't get it.

Ok

So we now have the setting to limit the number of trades opened per basket under the setting

MinTradesPerBasket
MaxTradesAllowed

Depending on the combination it is possible to restrict the number of trades opened and a result get a "part" rather than full basket.

On what bases of selection will it choose to open (or rather NOT open) the pairs in the basket?

You see it may happen that you open a random selection of winners, and by the same token losers as not always does every pair in the basket profit - after all the principle of the basket trade is that it evens out, right?

.. what if the trades that would have evened it out don't get opened... what's the preference.... could they all be the losers?

How does that sound to you?

Eddie
  • #2,482
  • Jan 5, 2009 6:19pm Jan 5, 2009 6:19pm
Quoting eddiemiller
As a follow on to the post above the EUR trade has gone good (4 hours).

£3.00 JSL kicked in and then it started pulling back - basket closed, + £2.80

----- Steve's Law proved again------

The risk to reward is NOT to my liking but this does show that if you pull it with a SL when it is near the top/bottom you are "cutting off you nose to spite your face" so to speak.

Trust the trade and stay with it (unless you know of something in the news that may cause madness!)

Eddie
so the entrie still: above 75 and diff >10 buy.

is this 100% correct?

thanks in advance.
  • #2,483
  • Jan 5, 2009 6:46pm Jan 5, 2009 6:46pm
Quoting eddiemiller
Ok

So we now have the setting to limit the number of trades opened per basket under the setting

MinTradesPerBasket
MaxTradesAllowed

Depending on the combination it is possible to restrict the number of trades opened and a result get a "part" rather than full basket.

On what bases of selection will it choose to open (or rather NOT open) the pairs in the basket?

You see it may happen that you open a random selection of winners, and by the same token losers as not always does every pair in the basket profit - after all the principle of the basket...
All the information I can provide is in the user guide.

  • #2,484
  • Jan 5, 2009 6:47pm Jan 5, 2009 6:47pm
Quoting giraia_br
so the entrie still: above 75 and diff >10 buy.

is this 100% correct?

thanks in advance.
Nope the trade you quoted was a 10 > retrace to 15 > SELL, exit at 79

If you have a look at the .PDF in Steves post it is well explained there (better than me!)

Eddie
  • #2,485
  • Jan 5, 2009 7:26pm Jan 5, 2009 7:26pm
Hi..

Is there anybody testing the latest EA by Steve..? I've tested it using a default set for original basket...The result is awesome...!!I managed to collect 1058 pips and this trade was done during NY session only...!!

The only problem that I can see now on the EA... is the number of order been traded simultaneously. The EA currently opened 49 trades even the EA was set to limit the MaxTradesAllowed is only 24. The good news is...the DD still low which is only -$60. I'm opening only 5 baskets (JPY,USD,EUR,CHF and GBP), and all of these baskets had opening on weak and strong trades. So wherever the movement is..., the DD still around -$60....until one side reach the TP. We will the result for today.

Sahars.
  • #2,486
  • Jan 5, 2009 7:37pm Jan 5, 2009 7:37pm
Quoting sahars
Hi..

Is there anybody testing the latest EA by Steve..? I've tested it using a default set for original basket...The result is awesome...!!I managed to collect 1058 pips and this trade was done during NY session only...!!

The only problem that I can see now on the EA... is the number of order been traded simultaneously. The EA currently opened 49 trades even the EA was set to limit the MaxTradesAllowed is only 24. The good news is...the DD still low which is only -$60. I'm opening only 5 baskets (JPY,USD,EUR,CHF and GBP), and all of these...
Thanks for posting this.

There is scope for the EA tp send more than MaxTradesAllowed, but not by so many. For example, you have 22 trades open and the EA spots an opportunity to send a basket of 6 EUR trades. It will attempt to send the basket, even though it will take your max trades over the limit.

It should not be allowing more than double MaxTradesAllowed, so this is a bug. I will hunt it down tomorrow.

  • #2,487
  • Jan 5, 2009 7:40pm Jan 5, 2009 7:40pm
Steve,

Question:

If say I am running the GBP, JPY and USD only and 2 are weak and one is strong, they all trigger in line with the settings doesn't this mean that the pair combinations for each pair are trading against eash pther creatingan automatic DD?

Afterall they cant all be strong vrs strong, can they?

Eddie
  • #2,488
  • Jan 5, 2009 7:46pm Jan 5, 2009 7:46pm
Quoting sahars
Hi..

Is there anybody testing the latest EA by Steve..? I've tested it using a default set for original basket...The result is awesome...!!I managed to collect 1058 pips and this trade was done during NY session only...!!

The only problem that I can see now on the EA... is the number of order been traded simultaneously. The EA currently opened 49 trades even the EA was set to limit the MaxTradesAllowed is only 24. The good news is...the DD still low which is only -$60. I'm opening only 5 baskets (JPY,USD,EUR,CHF and GBP), and all of these...
Further to my last post, I had a quick look at the code and saw immediately that I had left out the condition that checks that there are less than MaxTradesAllowed trades open already. I will sort this out in the morning (I am going to bed right now) - it is easy but requires a lot of copy/pasting.

In the meantime, users demoing the Original strategy please note that the MaxTradesAllowedsetting has no effect (yet more proof of the need to demo any EA I write before setting it loose live ). It works for the Range strategy.

Update to follow tomorrow.

  • #2,489
  • Jan 5, 2009 7:54pm Jan 5, 2009 7:54pm
Quoting eddiemiller
Steve,

Question:

If say I am running the GBP, JPY and USD only and 2 are weak and one is strong, they all trigger in line with the settings doesn't this mean that the pair combinations for each pair are trading against eash pther creatingan automatic DD?

Afterall they cant all be strong vrs strong, can they?

Eddie
They probably can, Eddie. I currently have a simultaneous USD Weak and a USD Strong basket. I had the same situation with EUR earlier.

Taking individual trades, if GBP goes Strong it will buy GBPUSD. If the USD subsequently goes Strong, then it will sell GBPUSD. The individual trade will be a looser in one basket and a winner in the other.

Don't pay too much attention to individual trades. This is a basket trading system. Within the basket, there will usually be winners and loosers. What counts is that the basket eventually finishes as a winner and the account balance continues to rise.

  • #2,490
  • Jan 5, 2009 7:56pm Jan 5, 2009 7:56pm
Quoting SteveHopwood
Thanks for posting this.

There is scope for the EA tp send more than MaxTradesAllowed, but not by so many. For example, you have 22 trades open and the EA spots an opportunity to send a basket of 6 EUR trades. It will attempt to send the basket, even though it will take your max trades over the limit.

It should not be allowing more than double MaxTradesAllowed, so this is a bug. I will hunt it down tomorrow.

Thanks man.. You are the best..!!

Sahars.
  • #2,491
  • Jan 5, 2009 8:20pm Jan 5, 2009 8:20pm
Quoting eddiemiller
Nope the trade you quoted was a 10 > retrace to 15 > SELL, exit at 79

If you have a look at the .PDF in Steves post it is well explained there (better than me!)

Eddie
many thanks Eddie. I was not aware of this PDF. I took it.

best regards.
  • #2,492
  • Edited 8:42pm Jan 5, 2009 8:41pm | Edited 8:42pm
Steve, V9a, it hit the Jpy Trigger, and opened 2 pair, then a while later when those 2 took TP, it opened the same 2 pair again, even though the strength was around 50.

Any ideas mate?

ta
  • #2,493
  • Jan 6, 2009 12:40am Jan 6, 2009 12:40am
Quoting matrixebiz
Hey Steve, great work, thanks for the EA and effort you put into it.

Here is v1.2b of my latest EA that includes a Max_Allowed_Spread option to stay way from the pairs that have high spreads, IBFX is bad for having high spreads.
Here is a Multi Spread indicator if you want.
Matrixebiz:

Could you create the Multi Spread Indy for a 5 digit broker?
  • #2,494
  • Jan 6, 2009 2:36am Jan 6, 2009 2:36am
Well in a bit of a drawdown at the moment. 30%. All baskets held from yesterday. Weak GBP down $600. Strong EUR down $470. Strong CHF down $250. Leaving them open while I'm considering what to do with them.

Eddie, I'm trading on a $5k demo - using 0.30 size trades. I'm got rid of the JS for the moment.

Cheers
  • #2,495
  • Jan 6, 2009 2:38am Jan 6, 2009 2:38am
Quoting sundog
Steve, V9a, it hit the Jpy Trigger, and opened 2 pair, then a while later when those 2 took TP, it opened the same 2 pair again, even though the strength was around 50.

Any ideas mate?

ta
V9.b or the Flexible Trading EA (v 10) are the newer versions.

Please update.

Also note all NEW EA versions are being bug tested......

Eddie
  • #2,496
  • Jan 6, 2009 2:43am Jan 6, 2009 2:43am
Quoting maxdd
Well in a bit of a drawdown at the moment. 30%. All baskets held from yesterday. Weak GBP down $600. Strong EUR down $470. Strong CHF down $250. Leaving them open while I'm considering what to do with them.

Eddie, I'm trading on a $5k demo - using 0.30 size trades. I'm got rid of the JS for the moment.

Cheers

You are not following the rules that Steve set........

Lot size should be no more than 0.01 (not 0.30)!

I know it is only a demo, but following the rules is very important as the EA isn't so far flexible with lot size (as discussed earlier).

Eddie
  • #2,497
  • Jan 6, 2009 2:50am Jan 6, 2009 2:50am
Overnight "Autotrade" with the EA

I have concluded that the jumping stop really doesn't work well most of the time.

The on going problem is if you set the stop too low it may trigger too quick, and too high can close out all together.

Example

You set $1.
Basket gets to $1 JSL set to $0, then to $2 JSL $1 then retrace, closed $1


You set $3
Basket gets to $3 JSL set to $0, then small retrace, closed $0 (or more to the point if it has moved quickly by the time it closes a -$?)

----------------------------------------------------------------------

I asked a while back if we could code this up (I am not a MT4 coder) to have some "allowance" in the JSL e.g allow for a % of retrace.

Can anyone help with this as I know Steve wasn't keen on coding this.

My over night test is -£5 on 4 basket trades....... my profit is from manual trades as listed yesterday.

Eddie
  • #2,498
  • Jan 6, 2009 2:53am Jan 6, 2009 2:53am
Ah Eddie its a $5k account - I'm being more conservative than Steve.
Cheers
  • #2,499
  • Jan 6, 2009 3:01am Jan 6, 2009 3:01am
Quoting maxdd
Ah Eddie its a $5k account - I'm being more conservative than Steve.
Cheers
... and with the greatest respect that is why you are in the position that yu are in. Trust me I have been there and using the larger numbers does nothing but inflate the gains/losses.

This isn't helpful; when "learning" a new system... after all they don't teach you to drive a car at 100 mile per hour do they?

Eddie
  • #2,500
  • Jan 6, 2009 3:11am Jan 6, 2009 3:11am
Eddie, My position sizing is more conservative than Steve - therefore my percentaged moves will be less - i only care about the percentage gains and losses - not the actual dollar amounts - its a demo account.
Cheers
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