Excellent idea!!! Simple EA is required

Hello ,

the idea is this:

Buy EURUSD 0.5 Lot

Buy GBPUSD 0.5 Lot

Buy USDCHF 1 Lot , no meter the condition of the market.

The Expert shod close your account in profit of $ 100 and start over again, very simple!!!

Once we have that Expert we can check the maximum DD, the right point to close the $ each round, the amount of money we need and most important is this a profitable system? (I do it manual and its works )

Maybe we will call it a $ 100 machine!

when you did this manually how much was your stop?

how long did you do this manually?

hay fugly

ther is no stop lost in this kind of trade, its a correlation currencies so your risk should be low.

I did this manually just for a few times and in all of them got win 100$.
for the big back test we need that EA.

Sample size? I guarantee that a "few" tries is not enough.

Put up some results (100+ trades), standard deviation, and max drawdown and I'll do some analysis.

This is essentially equivalent to:

Buy EURCHF 0.5 lot
Buy GBPCHF 0.5 lot

Hence, when EURCHF and/or GBPCHF rise, you will win. When they fall, you will lose.

EUR and CHF are currently fairly closely correlated. So the greatest impact on your result will likely come from the strength of GBP against CHF.

For a more detailed explanation, see my post here. The pairs are different, but the logic remains the same.

Periodically withdrawing profits will not affect your overall net P/L.

Hey hanover

This is not the same thing, when you buy individually the EURUSD & GBPUSD & USDCHF then there is always a chance to catch the difference between them and I believe that the gap of 100$ ( = 10 pips) impossible even a few times a day,
If there is someone who can write this expert so go for it
I believe its will be worth the job .

It's true that such inefficiences do occasionally exist, but they are generally small and fleeting. Without any kind of analysis, you have a 50/50 chance of getting on the right side of one, and of course you have to overcome costs.

Anyway, I guess there's no harm in trying to beat the math. I wish you the best of luck.

As far as I know running Multi Currency Backtests is impossible with MT4.
This won't help you.

thats what I thought. Anyway it won't work.

These methods eventually fail because the corelations breakdown at some point for short periods of time, no one can say when, could be sooner or later and if you're in the market at that time its all over, if you withdraw a large chunk of your profits along the way you may end up in the green but that's a hard thing to do. Greed is just such a strong emotion.

check out dreamliners thread in the system area, it started of with a lotta hope and soon reality set in, that had a better chance than your method. If you really want to succeed try multi basket hedges something like trader101's approach I haven't studied that so i can't say the outcome but your current method has absolutely no chance.

Anyway please don't mind my personal opinion give it your best shot and see for yourself what happens.

This has been tried many times in the past and yes there are EA's available on here that will do it.

Having traded for a bank, i can assure you that it WILL fail. But hey, dont take my word for it....

IF it worked then we would all be rich.....wake up people.

Exactly. Profit depends on how accurately entries and exits are timed around market reversals, and that ultimately equates to how robust one's analysis is in capturing the forces that drive price movement.

Anyway, I just thought I'd attach a chart to explain my previous post. The blue line is EURUSD. The red line is an inverted GBPUSD, i.e. effectively USDGBP. If we 'sum' the two we should get EUR/USD x USD/GBP = EUR/GBP. EURGBP is the white line.

If the chart heeds the algebra, the white line should be the net sum of the blue and red lines, across each graduation. (So if, for example, the blue line rises steeply while the red falls only marginally, the net effect should be a rise in the white line). Judge for yourselves how often and accurately the algebraic relationship holds good.

This means that being simultaneously long EURUSD and short GBPUSD is effectively the same as being long EURGBP. Of course the same principle applies, no matter how complex the combination of pairs that are involved.

Any breakdown in the relationship creates an inefficiency that could potentially be exploited. But it would require analysis to identify such a situation, and a method capable of quickly taking advantage before market efficiency is restored. Hence I don't see how merely taking simultaneous long and short positions in various pairs can in itself provide a robust long-term edge.

BTW, this chart was plotted using the Recent Prices indicator.

A lot of theory but non making any EA for practical test?

benseg, is it all buy trades for the 3 pairs u mention or typo error?

I think it should be a very simple EA for forward test.

Yes akukaya it is all buy trades, I am still hope that someone hear code this simpel EA.

Try this.

Open the 3 charts and attached the EA to all the charts.

I am not try it yet, pls post your finding here.

it doesn't open any trades

and if you open manually trades it will close them almost immediatly

NOT WORKING

hope this one working.

Different brokers call the currency pairs different things like instead of "GBPUSD" it might be "GBPUSDm" so that could be why no trades are placed. Make that something the user can change.

I give you a free simple EA version of my commercial EA version.

I strip out some codes. but it will work for your case.

You may distribute it freely under General Public License.

External "WORKing version" download link: 4shared

happy trading & have some nice profits!

PS: The beginning of knowledge is the 'discovery' of something we do not understand. Frank Herbert (1920 - 1986)

Hi all and hi syanwar,
I tried your [EA]EGC-ForexFactory (great idea) but target don't work. My last (demo) trade had 600$ profit and I closed all three trade manually. Have You solution?
gugy

I found an old hedge EA which I have altered for three pairs. See if it works. Don't know about coding part. You may have to look elsewhere for tinkering.