Relative Strength Basket Trading System

I am not sure where I am this morning.

Changed back to 1H TF and restarted PC after crash.

Was (I think -£1.26 at one point a few minutes ago) but now is levelling off and as a result is -£27.00!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I should have come out as I am not happy but now I will just let it run and "hope" the margin call doesn't kick in. (already under 100%)

Steve I am a fool, I know.

Eddie

To close or to chance it? This is such a small account, and the GBP and CHF are right at the extremes I am wondering if Steve's law will save the account..........

Too many trades..... too little equity..... a mess in general.

Eddie

hello all and well done Steve for another piece of coding mastery.

One of the many things I'm not clear on is TP levels. T101 originally had his own EA which was a sort of trailing stop algorithm, possibly chandelier.

Actually, Steve - any chance you could pop-in a chandelier exit strategy, it would make logical sense for this method I think.


?????????

The JPY (possible the only short term profit) just hit the JSL at £3, then closed to the 30 level.

Netted £0.21 so no loss and it has helped my margin recover slightly. Depending on how you look at it this basket may have bolstered the balance, but at least it was in profit at close and has freed up margin!

Eddie

Its really hot that you trading on a live account with the EA.

......or stupid depending on where it ends up!

I do trade on demo as well, and after today I may be back there. I tend to find on demo I don't "care" as much and tend to trader harder, faster and with less care are the "value" isn't there if you get what I mean.

Not a way forward for most people, but useful for others.

The thing that continues to bug me now on the two trades I have open is the JSL and TP settings from a risk to reward point of view. I know Steve will pop up at any minute and remind me that there is no such thing as a bad profit in Forex, and at the same time I want to maximise my value compared to the DD I have encountered.

Eddie

Trading with real money isn't easy i know because i haven't done it yet still green. Maximizing the value compared to the DD is everybody's main concern. But still letting the EA run on a live account says a lot about the EA, don't you think?

Agreed. The GBP just went into profit. JSL triggered at £0.

Eddie

This is where the trade is at the moment.

Eddie

GBP closed out for 1 pip after the JSL was hit.

Just the CHF open, current -£14.00

Eddie

CHF retracing now -£19.00

Eddie

V2 has the option to close baskets when the strength is likely to turn against it and it has not yet hit sl. It is part of the Range trading method.

I have gone for simple options. Closure occurs when the trigger's strength passes into the area where the EA gets ready to enter a basket.

Demo this before using it live as it has not been tested yet.

This is copied from the user guide:


Specific settings for range trading:

1. TradeRangeMethod=true;

1. WeakEntryPending=80: the entry level on KG's indi that tells the EA that a Weak basket is pending. It will wait for a retrace to place the trades.
2. StrongEntryPending=20: the entry level on KG's indi that tells the EA that a Weak basket is pending. It will wait for a retrace to place the trades.
3. RetraceDistance=5: this is the distance the trigger currency strength must retrace into the area in between 20 and 80, so:

1. Weak baskets will be placed at 75 (WeakEntryPending – RetraceDistance).
2. Strong baskets will be placed at 25 (WeakEntryPending + RetraceDistance).

1. StrengthInProfitClose: set this to 'true' to enable this function (see the explanation that follows).
2. StrengthProfitDollarTarget: the minimum profit you will accept from the closure.

StrengthInProfitClose
The easiest way to explain this is to give an example:

1. You have a Strong JPY basket open.
2. Jpy strength passes your WeakEntryPending value (default of 80) and the EA prepares to open a Weak basket. Your Strong basket has not yet hit its take profit, but its upl will fall if the strength of JPY starts to fall.
3. Rather than letting this happen, the EA will close the basket so long as it has passed the profit point you set in StrengthProfitDollarTarget (default of 0 means breakeven).

Steve's Law won out again on the GBP

risk to reward ratio stinks and that is my fault today.

Eddie

Becareful with those baskets on LIVE accounts. Sky news has just reported that RUSSIA has now turned off ALL gas supplies to Europe.

Traders will be running for the commodity currencies (CAD).

Goodluck!!!

All trades for the day are now closed with a result of -£0.32 (4 pips).

At one point is was 526 pips dd.

Eddie

Phew

As you still have a balance, have an extra little pressie. The attached does nothing special, but it does display the balance and the profit in sterling instead of dollars.

Steve - seems stuck on the 2 minute message? (for 25 minutes)

Eddie

.5 % down on the day

Eddie

Did you check the account was connected to the broker?

I have not seen this before. If it happens again, try dragging the EA onto the chart again.

Testing a new set...... 5 minute TF (seems the DD is smaller!)

Eddie