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Simple Trading Method with trader101

  • #2,281
  • Jul 9, 2009 1:43am Jul 9, 2009 1:43am
Quoting Salient
......I do not know if the ProtectAccount EA should be added to each chart or just one...
Just one chart
  • #2,282
  • Jul 9, 2009 6:15am Jul 9, 2009 6:15am
Had a little chuckle at this...

Quoting Salient
Greetings All,
I have not made any posts to FF as I have had no need. Please do not treat me like an idiot just because I have not been posting. I am 52 yrs old and was writing market analysis code on Unix machines in the late eighties...
Anyway... Possible trend reversal as spread between buys and sells has narrowed again, although bias is still short. Larger retracement starting from around 18:00GMT yesterday until about 10:00GMT this morning is bigger than any retracement we've had since Monday. Waiting to see how far the correction is before determining direction of entry.

For those of us who scalp, short is the preferred direction as current basket spread is higher than an hour ago and maintains the IA position of short. Personally, I'm looking for a positive signal such as massive widening or contraction of spread. Perhaps US news this PM will help determine direction.
  • #2,283
  • Jul 9, 2009 1:20pm Jul 9, 2009 1:20pm
I did my IA buy7sell on mopnday and did not see any change in oreder excepr EUR/USD which is now in uper part. Oter pairs are so much in positive/negative teritory that I do not see any chance of reversal. So How do you guys have your pairs.

I also have problem that swops are mixing my P/L spread so I do not see anything!?!?
Any sugestions?
sas
  • #2,284
  • Jul 10, 2009 12:20am Jul 10, 2009 12:20am
Not even close.
It's a blow-out off the Sells.

With it being Friday tomorrow, this week is done.

I wish Julius would teach us other ways to be trading the basket.
No pair jumping trades either.

See you all next week.
  • #2,285
  • Jul 10, 2009 5:02am Jul 10, 2009 5:02am
I guess we have to update a list more often since pairs will not move if you entered it and pairs go to much in one direction. If sales are to much in loss and buys are to much in profit for example, it will take a hevy turn in direction to get tehm reversed. By that time a lot of move is already finished.
I only did EU/GU buy as thair change the place and it was a good trade but no basket trade.

Sasa
Quoting forexferrari
Not even close.
It's a blow-out off the Sells.

With it being Friday tomorrow, this week is done.

I wish Julius would teach us other ways to be trading the basket.
No pair jumping trades either.

See you all next week.
  • #2,286
  • Jul 10, 2009 5:19am Jul 10, 2009 5:19am
I have finally read, and in some cases re-read every post. I hope now to get involved and contribute to this thread.

Have been having pretty good luck over the last week with demo using mostly orest.

Might note that I have had pretty good luck recovering losses using stop& reverse when I got into stupid trades. Have done this 3 times with 3 successes. I wonder if that was luck, or if it tells us something.

Also, I tend to try to trade in the direction of the Daily, and use the 4 hr as my main entry indicator. The one hour, at least I think, can be an early sign of trend change or just be a retracement.

Hope to participate and learn more from some of you guys...

Beshakey
  • #2,287
  • Jul 10, 2009 6:01am Jul 10, 2009 6:01am
A few posts back, I believe I saw someone asking how to close all trades at once.

One way is to go into your profit protect EA and change the stop loss to an amount that will trip it.

After you have done this, and re-attach and activate, it will think you are stopped out and close all trades on the next tick.

Beshakey
  • #2,288
  • Jul 10, 2009 6:36am Jul 10, 2009 6:36am
Quoting Beshakey
Also, I tend to try to trade in the direction of the Daily, and use the 4 hr as my main entry indicator. The one hour, at least I think, can be an early sign of trend change or just be a retracement.
As this is a basket strategy and there are no charts to be used per-se, where are you getting the direction of the Daily and 4 hr and the 1 hr from?

If you are selecting one pair chart and basing your basket entries on that, it will be your downfall.

Please explain your 'chart' analyses.
  • #2,289
  • Jul 10, 2009 6:44am Jul 10, 2009 6:44am
Quoting Beshakey
One way is to go into your profit protect EA and change the stop loss to an amount that will trip it.

After you have done this, and re-attach and activate, it will think you are stopped out and close all trades on the next tick.
If you already have the EA activated, then edit the settings, then close it and then re-attach it, it will not have saved the settings as it is in .ex4 which is uneditable, meaning the settings will not be saved. You should edit the settings when the initial inputs are shown, prior to it being attached and each subsequent time you remove and re-attach it.

However, this is not a good method if you are looking to close all open trades immediately without any messing around. Download the 'Close_Al'l script from the attachments. That is a much better way of closing your trades and can be edited to suit your requirements (e.g. do not present options, just immediately run) and set on a hot key.
  • #2,290
  • Jul 10, 2009 7:33am Jul 10, 2009 7:33am
Quoting Limstylz
If you already have the EA activated, then edit the settings, then close it and then re-attach it, it will not have saved the settings as it is in .ex4 which is uneditable, meaning the settings will not be saved. You should edit the settings when the initial inputs are shown, prior to it being attached and each subsequent time you remove and re-attach it.

However, this is not a good method if you are looking to close all open trades immediately without any messing around. Download the 'Close_Al'l script from the attachments. That is a much...

Oh. Well I have tried the close all, and had no luck. That was early in the thread, and I didn't have the hang of it yet. I'll try it agian sometime.

To Close with Profit protect, you don't have to modify script. And you are right, you can't modify ex4.

Do it by going thru the menu.
Go to the chart on which you have attached the profit protect. Right Click on the smiley face, scroll to expert properties and left click. and you will get the settings screens Click on the input, and you will see a place to enter a profit stoploss (this will usually be a negative number. and a profit target. Change the stoploss, and click okay. That will close all 14 trades, or I suppose however many you have open, depending on your method. This should work, unless we are talking about 2 different things. THis is how I close mine. Yours would be a million times better anyway. And a hell of a lot easier than manually closing 14 trades.

By the way I use IBFX broker.

CAUTION: If you leave the Profit Calc on the screen, and you don't change the Stoploss you have just used to close before the next time you use it, it will close your next trade as fast as you open it. I take all attachments off the screens between trades.

You can also use this as a manual stop loss to trail your trade profit, even to the profit protect does this automatically anyway.


As for the daily, 4 hr and hour trends, I am speaking of the Orest indicator. I prefer this to the IA. You will find this somewhere around the page 60 or 70, I think. You want version 1.11 I believe, but this version may be for IBFX.

The orest extrapolates the price history of all the pairs, and builds them into time frames. I am not very technical, so I can't give you much more detail.

Hope no too wordy, I get too keyboard happy sometimes, and up about 900 pips on current 14basket trade.

Yours, Beshakey
  • #2,291
  • Jul 10, 2009 8:04am Jul 10, 2009 8:04am
Quoting Beshakey
As for the daily, 4 hr and hour trends, I am speaking of the Orest indicator. I prefer this to the IA. You will find this somewhere around the page 60 or 70, I think. You want version 1.11... ...Hope no too wordy, I get too keyboard happy sometimes, and up about 900 pips on current 14basket trade.
Well done on your current basket. Your post is a little wordy, especially for those of us who HAVE read the whole thread, but thats cool... it helps to clarify a few things for newbies perhaps.

With regard to the Orest indicator, I noticed that there are several bugs with the code where by the code changes the bias for ALL timeframes based on current price, which can cause issues at midway points. The indicator listed in this thread is out dated any way (new version can be found on Orest's thread here on FF, if you decide to use it... I still don't think its quite there yet)
  • #2,292
  • Jul 10, 2009 1:38pm Jul 10, 2009 1:38pm
Quoting Limstylz
Well done on your current basket. Your post is a little wordy, especially for those of us who HAVE read the whole thread, but thats cool... it helps to clarify a few things for newbies perhaps.

With regard to the Orest indicator, I noticed that there are several bugs with the code where by the code changes the bias for ALL timeframes based on current price, which can cause issues at midway points. The indicator listed in this thread is out dated any way (new version can be found on Orest's thread here on FF, if you decide to use it... I still...
Thank you, I much appreciate. About the wordiness, I am fairly new to FF, and am not always aware of etiquette

Thanks Friend
  • #2,293
  • Jul 13, 2009 11:56am Jul 13, 2009 11:56am
From what I have read so far, and I have read a BUNCH. If I follow these rules I have about an 80% chance of a profitable trade. Correct me if I'm wrong.

1. IA must show clear direction (Profitcalc_R3 included).
2. Orest (v1.12) 4H total must be out of the 0 - 100 range.
3. M5 and H1 Basket Indicator must agree on direction.
4. Attach miniAccProtect.[4a] to lock in profits and prevent catastrophy.


Does this sound right? Anybody care to comment? Thanks.
  • #2,294
  • Jul 13, 2009 5:05pm Jul 13, 2009 5:05pm
Everything looks like it's coming together. The only thing that isn't screaming long is the H1 on BasketIndicator, but it's starting to turn.
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  • #2,295
  • Jul 13, 2009 5:07pm Jul 13, 2009 5:07pm
Orest is screaming long to.
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  • #2,296
  • Jul 14, 2009 4:43am Jul 14, 2009 4:43am
Quoting bartstop
Orest is screaming long to.
I note that at the time of your post (23:00 DST) if you had only noticed Orest telling you to go long at this point, then your reading of it is lagging.

The major indication of the long retracement/reversal occurred around 13:00 DST when the spread between the short and longs had narrowed significantly enough to warrant closing any shorts that were running at the time and reverse the trades. Also the largest spread in the last 2 hours was not as large as the spread at the widest point for the previous week and started to narrow sharply when reaching the the wide spread.

The main reason for not using the Orest indicator is precisely because of this. If you pay too much significant attention to the bottom line of the indicator (short/long/weak/strong) instead of examining the spread between the short and longs, you will get out of your current positions and into the opposite position a little late and lose out on realised and/or potential profits.

It does require a little more work to examine the narrowing and widening spreads, but I'm sure you will see that its worth the effort.
  • #2,297
  • Jul 14, 2009 7:33pm Jul 14, 2009 7:33pm
Quoting Limstylz
I note that at the time of your post (23:00 DST) if you had only noticed Orest telling you to go long at this point, then your reading of it is lagging.

The major indication of the long retracement/reversal occurred around 13:00 DST when the spread between the short and longs had narrowed significantly enough to warrant closing any shorts that were running at the time and reverse the trades. Also the largest spread in the last 2 hours was not as large as the spread at the widest point for the previous week and started to narrow sharply...
The "short, long, weak, strong" I don't pay much attention to. I was refering to the fact that the Total was above 100 on the 4 hour. I'm really not having much luck with this. I'm still trying to figure out what works best but the threads (multiple) on this method are so long and some things have been abandoned, like the "2 lots" technique from early on. From my post on the previos page, the one with the "rules". What would you change? Better yet, what do you use (indicators)? Thanks.


Bartstop



EDIT: Is the spreadsheet the best way to track the spreads?
  • #2,298
  • Jul 14, 2009 9:15pm Jul 14, 2009 9:15pm
Quoting bartstop
What would you change? Better yet, what do you use (indicators)? Thanks.


Bartstop



EDIT: Is the spreadsheet the best way to track the spreads?
The only indicators I use are the IA and a group Heiken Ashi indicator found on this thread: http://www.forexfactory.com/showthread.php?t=116892. I stopped using the profitcalc ea as it wasn't telling me anything the IA hadn't already, and the Orest EA is not as good as a spreadsheet IMO.

I track the spread with a simple spreadsheet first, manually entering the information as I go, as I don't know how to use the more complex spreadsheets posted here. I then confirm with the Heiken Ashi indicator.

I tend to wait for the highest/lowest spreads in relation to last hour, 4hrs previous, yesterdays recorded session (obviously I am not awake 24hrs so I look at London/US sessions only), and last week, then I check the overall direction of the spread movements (are spreads narrowing or widening in a long or short position) before looking at the Heiken Ashi for confirmation.

I won't post indicator here as T101 asked me to remove it last time. I hope this helps.
  • #2,299
  • Edited 6:51am Jul 15, 2009 6:41am | Edited 6:51am

hello everyone =)


I have a question about the IA. when should I close the orders? iam on page 50 now and iam little bit confused. is it every Sunday or do I close them when I have the other 14 started and then waiting 1 days and then start them again or should I never close them?

  • #2,300
  • Jul 15, 2009 8:31am Jul 15, 2009 8:31am
Quoting Limstylz
I track the spread with a simple spreadsheet first, manually entering the information as I go,

Would it be easier to use profitcalc_graphical to montior the spreads?
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