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Relative Strength Basket Trading System

  • #2,881
  • Jan 16, 2009 5:21am Jan 16, 2009 5:21am
-Stevehopwood-


Forget the T101 basket trading thing--don't let me distract you--you have an awesome thing going on here--

your relative strength eA that shows all the crossings is simply Fantastic-(geez-Now am sounding british---like a formula one announcer).

i think if it could show Multitimeframe crossings(from 240 to 15 mins with an alert on the individual currency)--that would just take the cake for me--it would be a WRAP-.

What do you think?
  • #2,882
  • Jan 16, 2009 5:26am Jan 16, 2009 5:26am
Been running KG basket flexible tradingi EA Alpari V4 on demo all week, though I've been away most of that time.
It's made over 1000 pips but had one catastrophic cad basket - entered 15/01/2009 at 23:17, exited at 9h05 the 16th. On 4 pairs, that lost more than it made all week. Screen shot of usdcad & cadjpy, which each lost over 900 pips, attached.
My colours: usd green, jpy blue, gbp red, cad beige, chf violet, aud orange, nzd pale green,

(There were a string of "KG RS GROUP V1.1" 4202: errors which mt4 identifies as "object is not exist", but that's probably just visual stuff ??)
Thanks again KG, Steve, Matrixebiz & everyone.
Attached Image (click to enlarge)
Click to Enlarge Name: Cadbasket.gif Size: 36 KB
  • #2,883
  • Jan 16, 2009 5:30am Jan 16, 2009 5:30am
In my opinion, you need to be very careful trading the CAD pairs. These are commodity currencies and act differently to the others.
  • #2,884
  • Jan 16, 2009 5:44am Jan 16, 2009 5:44am
Quoting eddiemiller
Looks like the gods have conspired against this successful EA in the only way possible... so my PC has just recovered from a serious error, rebooted and as a result the open trades obviously not been managed.

DD is now out of sync on the account, but it has killed me....

Eddie
I keep seeing the DD killing off traders accounts and ideas on how we can help Steve improve the EA to let us trade with a little less care.....!

What does seem to be happening (and I did it as well) was either:

1. Used a SL which prevented Steve's Law from working
2. Being too greedy

Set you JSL to make you 80 - 100 pips per basket and you will close out in profit every time... even if in the middle of the trade your PC goes down for a few hours like mine did.

The NZD recovered, and hot my TP of 150 pips (went down as far as -700)

The AUD is currently -440........

The account started on Monday, 0.01 = 0.01 pence (1 pip)

Balance £107.98 with one trade open.

798 pips this week so far.

Eddie
Attached Image (click to enlarge)
Click to Enlarge Name: 16012009_1132.gif Size: 76 KB
  • #2,885
  • Jan 16, 2009 6:11am Jan 16, 2009 6:11am
And i think with the multipletimeframe indicating a crossing 240-to-15 min,there will be a lesser chance of the 1hr timeframe crossing pulling back--cause you know sometimes there are headfakes---
  • #2,886
  • Jan 16, 2009 6:33am Jan 16, 2009 6:33am
its the HEADFAKES--pullbacks--that is causing the problems(DD)--the EA orders buy/sell---and before you know it---pullbacks occurs---i say multitime frame it ---steve---when all is heading in one direction--i think the orders sent will be more accurate
  • #2,887
  • Jan 16, 2009 7:17am Jan 16, 2009 7:17am
Quoting taomql4
its the HEADFAKES--pullbacks--that is causing the problems(DD)--the EA orders buy/sell---and before you know it---pullbacks occurs---i say multitime frame it ---steve---when all is heading in one direction--i think the orders sent will be more accurate
I can code this and will if it turns out to be necessary.

The first thing I am going to do is code a minimum gap between the relative strength reading of the two currencies about to form a trading pair. The EA sent trades at the new candle (midnight here in the UK) that I would not have taken live because the gap was too small. KG, any thoughts on the size of the gap; you have been trading this manually so I assume you have a benchmark figure that you use.

It might be worthwhile adding a period of time after the new candle, at which trades not yet sent because the gap has not widened sufficiently, are cancelled. Let's just try the gap thingy first and see how that works. These are daily trades, and so the system is going to take a while to test.

I am going to code a take profit function based on ATR, with the ATR multiplier decided by ADX. I coded this into an EA in another forum and it proved highly successful at setting the tp.

Other stuff I can add as we go along and the fertile minds here come up with more ideas.

  • #2,888
  • Jan 16, 2009 7:22am Jan 16, 2009 7:22am
My trading is finished for the week.

Happy trading everyone.

Attached File(s)
File Type: zip DetailedStatement.zip   8 KB | 409 downloads
  • #2,889
  • Jan 16, 2009 7:23am Jan 16, 2009 7:23am
Quoting eddiemiller
I keep seeing the DD killing off traders accounts and ideas on how we can help Steve improve the EA to let us trade with a little less care.....!
One I am contemplating is this: when an individual trade fails the KG GROUP filter test, to trade it in the 'wrong' direction rather than merely cancel it. I will code this sometime soon and we can see what effect it has.

Quote
What does seem to be happening (and I did it as well) was either:

1. Used a SL which prevented Steve's Law from working
2. Being too greedy

Set you JSL to make you 80 - 100 pips per basket and you will close out in profit every time... even if in the middle of the trade your PC goes down for a few hours like mine did.

The NZD recovered, and hot my TP of 150 pips (went down as far as -700)
I used to set a 200 pip tp. I have watched umpteen baskets go to +150 or so, before retreating and spending an age in dd. By reducing the tp to 100 pips I have dramatically reduced the frequency with which this happens and the EA is placing fresh baskets at the next opportunity instead of having to wait for an existing one to hit tp.

  • #2,890
  • Jan 16, 2009 7:47am Jan 16, 2009 7:47am
Quoting SteveHopwood
One I am contemplating is this: when an individual trade fails the KG GROUP filter test, to trade it in the 'wrong' direction rather than merely cancel it. I will code this sometime soon and we can see what effect it has.


I used to set a 200 pip tp. I have watched umpteen baskets go to +150 or so, before retreating and spending an age in dd. By reducing the tp to 100 pips I have dramatically reduced the frequency with which this happens and the EA is placing fresh baskets at the next opportunity instead of having to wait for an existing one to...
Yup thats what I said Steve - we need to have a 80 - 100 TP pip profit in mind when testing, anything higher than this in the majority seems to get itself into trouble.

Nearly 800 pips + for the week just letting the EA run..... TY!!!!!!

Eddie
  • #2,891
  • Jan 16, 2009 8:07am Jan 16, 2009 8:07am
Quoting SteveHopwood
Here you are, from my EA....
Thanks to KS, Steve, eddiemiller, matrixebiz for a grate job. Just finished reading this thread and wow!!

Steve if at all possible, could you show me in the right direction with some code especially with the daily cross? I'm new at MQL4 programing, I would really appreciate it.
  • #2,892
  • Edited 8:46am Jan 16, 2009 8:33am | Edited 8:46am
Quoting imaxi
Thanks to KS, Steve, eddiemiller, matrixebiz for a grate job. Just finished reading this thread and wow!!

Steve if at all possible, could you show me in the right direction with some code especially with the daily cross? I'm new at MQL4 programing, I would really appreciate it.
Have you been to the training site at http://www.metatrader.info/node/34 - completely free and an invaluable source of documentation.

You can glean a few hints from the attached EA. It uses the cross over of the two ADX lines to place trades. I wrote it to see if that alone would be enough to be profitable; it isn't, so don't anybody trade it.

I will not send you the code for the crossover for this EA just yet. KG has pm'd me with a more logical approach than the one I have taken so I will code that first, then you can see the code if you want.

Attached File(s)
File Type: mq4 ADX auto-trader.mq4   24 KB | 530 downloads
  • #2,893
  • Jan 16, 2009 8:39am Jan 16, 2009 8:39am
Quoting SteveHopwood
Have you been to the training site at http://www.metatrader.info/node/34 - completely free and an invaluable source of documentation.

You can glean a few hits from the attached EA. It uses the cross over of the two ADX lines to place trades. I wrote it to see if that alone would be enough to be profitable; it isn't, so don't anybody trade it.

I will not send you the code for the crossover for this EA just yet. KG has pm'd me with a more logical approach than the one I have taken so I will code that first, then you can see...
Thank you so much, I will look into the link that you have provided and if its not to much trouble maybe i can have a look at the code when the time is right.

Thanks again for your help.
  • #2,894
  • Jan 16, 2009 10:26am Jan 16, 2009 10:26am
Quoting trader416
I've got Steve Hopwood's EA for MultiPurpose Trade Management, but all I want is a fixed stop on the whole basket, and Steve's EA doesn't seem to do this. For example, if I have 8 trades on and the 8 of them add up to a loss of 500 dollars, then close all 8 trades. That's all.

Is there an EA available that does this ?
(I've also tried Trader101's "2ProtectAccount" but it takes profit and closes out my trades prematurely whereas I want to let the trades run)

Thanks in advance.
Trader,

Set Manage all trades to True
Then go down to Global Order Closure Settings(I think that's the name). Click on True for the next 3 (to enable, pending orders and Profit in Dollars) Then in the next field enter 300.0 (or whatever). When the total gain for all trades hits $300 the trades will close.

Please make sure you have live trading enables and the appropriate DLL boxes enables on the Common tab of the trade EA or the trades won't be closed.

Sandy
  • #2,895
  • Jan 16, 2009 11:14am Jan 16, 2009 11:14am
All finished - 869 pip s for the week.

Eddie
Attached Image (click to enlarge)
Click to Enlarge Name: 16012009_1637.gif Size: 87 KB
  • #2,896
  • Jan 16, 2009 11:17am Jan 16, 2009 11:17am
I'll be testing the KG Daily Cross next week. I did the set up and it works on the 1 min (as a test). So I'll reset the chart to Daily and see how it goes.

One question for Steve or anyone. I left the KG Filter Mins at 1440 for the Daily timeframe. I did read the updated manual (great documentation by the way), and I think the 1440 is correct but just want to confirm.

Have a great weekend all!
Sandy
  • #2,897
  • Jan 16, 2009 11:46am Jan 16, 2009 11:46am
Quoting nubchai
Trader,

Set Manage all trades to True
Then go down to Global Order Closure Settings(I think that's the name). Click on True for the next 3 (to enable, pending orders and Profit in Dollars) Then in the next field enter 300.0 (or whatever). When the total gain for all trades hits $300 the trades will close.

Please make sure you have live trading enables and the appropriate DLL boxes enables on the Common tab of the trade EA or the trades won't be closed.

Sandy
No, I don't want a "take profit". I'll close my trades manually, for profit. All I want is a fixed stop loss on my basket. Not trailing, not stepped, just a fixed stop.
  • #2,898
  • Jan 16, 2009 1:28pm Jan 16, 2009 1:28pm
Quoting trader416
I've got Steve Hopwood's EA for MultiPurpose Trade Management, but all I want is a fixed stop on the whole basket, and Steve's EA doesn't seem to do this. For example, if I have 8 trades on and the 8 of them add up to a loss of 500 dollars, then close all 8 trades. That's all.

Is there an EA available that does this ?
(I've also tried Trader101's "2ProtectAccount" but it takes profit and closes out my trades prematurely whereas I want to let the trades run)

Thanks in advance.
Here's a couple I use all the time. Steve"s EA is great and will do a ton more. Take your pick....These are all EA's and must go on a seperate chart so if you use 2 EA's they must be on 2 different charts.
Attached File(s)
File Type: mq4 CloseTrades_After_Account_Loss_TooMuch.mq4   3 KB | 474 downloads
File Type: mq4 CloseTrades_After_Account_Profit_Reached.mq4   3 KB | 476 downloads
File Type: mq4 CloseAllAtEquityLevel.mq4   5 KB | 459 downloads
File Type: mq4 CloseAtEquityAmount v1.0.mq4   3 KB | 493 downloads
File Type: mq4 Close all open and pending orders.mq4   1 KB | 492 downloads
  • #2,899
  • Jan 16, 2009 4:25pm Jan 16, 2009 4:25pm
Quoting nubchai
I'll be testing the KG Daily Cross next week. I did the set up and it works on the 1 min (as a test). So I'll reset the chart to Daily and see how it goes.

One question for Steve or anyone. I left the KG Filter Mins at 1440 for the Daily timeframe. I did read the updated manual (great documentation by the way), and I think the 1440 is correct but just want to confirm.

Have a great weekend all!
Sandy
Yes. it is. 1440 minutes in a day.

I hope to have a more sophisticated cross-spotting, trade-filter in place by market open after the weekend.

  • #2,900
  • Edited 4:48pm Jan 16, 2009 4:46pm | Edited 4:48pm
Quoting trader416
No, I don't want a "take profit". I'll close my trades manually, for profit. All I want is a fixed stop loss on my basket. Not trailing, not stepped, just a fixed stop.
Take a look at the Shirt Protection section. You can specify a $ amount (loss) and if the basket of trades goes lower than that amount all trades are closed.

But please keep in mind this isn't the same thing as having a hard SL for each individual trade. If you have a power outage or lose connection with you broker, the Shirt Protection feature can't protect your trade.
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