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Hedge and Correlation Strategy

  • #621
  • Sep 1, 2009 10:08am Sep 1, 2009 10:08am
dreamliner did you get all your scripts to work?? did you cheat or did you do it yourself?
  • #622
  • Sep 1, 2009 10:13am Sep 1, 2009 10:13am
Quoting jtmoore007
dreamliner did you get all your scripts to work?? did you cheat or did you do it yourself?
hehe, no I didn't get them to work, too lazy . I realized the scripts only allowed us to enter the trades a little easier, and I'm ok with just entering them manually.

I'm hoping somebody can make a script or indicator that goes along with the Excel sheets posted. That would take this trading method from "eyeball entry" to scientific entry and exit.
  • #623
  • Sep 1, 2009 10:15am Sep 1, 2009 10:15am
well if you want to pay for it i know just the man. and it isn't me. im no coder at all but ive had many eas and indis written for me. very reasonable and very quick.
  • #624
  • Sep 1, 2009 10:17am Sep 1, 2009 10:17am
Quoting jtmoore007
well if you want to pay for it i know just the man. and it isn't me. im no coder at all but ive had many eas and indis written for me. very reasonable and very quick.
Oh ok, thanks for the info. Is there a way to get an estimate of cost and time to produce before purchasing?
  • #625
  • Sep 1, 2009 10:20am Sep 1, 2009 10:20am
Check out GBP/JPY and USD/JPY right now. Great entry!
  • #626
  • Sep 1, 2009 10:21am Sep 1, 2009 10:21am
Quoting jeffreytp
Thank you for these scripts. Very useful!

Next what we need is an EA that will close two pairs if the profit between the two pairs reaches a certain $ value.

Maybe someone knows how to edit the attached EA's.

I have been using the attached EA to close all trades when a certain equity level is reached. Has been working great. But limits you to only trading 2 pairs because it close ALL open trades not just the combo in profit to a certain level.

We still need the indicator which measures the spread between the two pairs.

Due to there being...
I know there are trade management eas that can exit only a particular pair if it is in profit but i don't think it will exit ( if your eurusd and gbpusd cross trade is in profit - only close these two pairs)

also what happens if you are like me and have two different "sets" of trades open but both involve a particular pair. like right now im in 3 "sets" of trades all involving the usdjpy. so how do you tell it to close the "right usdjpy" trade. and you also now have FIFO rule to look at.
  • #627
  • Sep 1, 2009 10:22am Sep 1, 2009 10:22am
Quoting Dreamliner
Check out GBP/JPY and USD/JPY right now. Great entry!

im in it

thinking about doubling up on several of these if this keeps it up.. which will be fine by me.. gonna double up every 100 pips or so
  • #628
  • Sep 1, 2009 10:26am Sep 1, 2009 10:26am
Quoting jtmoore007
I know there are trade management eas that can exit only a particular pair if it is in profit but i don't think it will exit ( if your eurusd and gbpusd cross trade is in profit - only close these two pairs)

also what happens if you are like me and have two different "sets" of trades open but both involve a particular pair. like right now im in 3 "sets" of trades all involving the usdjpy. so how do you tell it to close the "right usdjpy" trade. and you also now have FIFO rule to look at.
That is where a good script would help by assigning "magic numbers" to your trades... and then a MM EA would take care of exiting the pairs with the same "magic numbers".

Bruce
  • #629
  • Sep 1, 2009 10:26am Sep 1, 2009 10:26am
Quoting jtmoore007
I know there are trade management eas that can exit only a particular pair if it is in profit but i don't think it will exit ( if your eurusd and gbpusd cross trade is in profit - only close these two pairs)

also what happens if you are like me and have two different "sets" of trades open but both involve a particular pair. like right now im in 3 "sets" of trades all involving the usdjpy. so how do you tell it to close the "right usdjpy" trade. and you also now have FIFO rule to look at.
I don't worry about all that stuff, I trade this system with 4 account. With Oanda you don't have to worry at all about FIFO, but I get more leverage at IBFX so I use 2 accounts at both places.
  • #630
  • Sep 1, 2009 10:36am Sep 1, 2009 10:36am
Quoting brucech
That is where a good script would help by assigning "magic numbers" to your trades... and then a MM EA would take care of exiting the pairs with the same "magic numbers".

Bruce

ok then, maybe someone can make use of this then. im no coder but this may be of some use for those programmers out there
Attached File(s)
File Type: mq4 NewOrderWithMagicNo.mq4   2 KB | 490 downloads
  • #631
  • Sep 1, 2009 10:38am Sep 1, 2009 10:38am
JT, can you check with the guy you mentioned and get an estimate for an indicator that accomplishes what the excel sheets did?
  • #632
  • Sep 1, 2009 10:49am Sep 1, 2009 10:49am
Dreamliner PM sent.
  • #633
  • Sep 1, 2009 10:52am Sep 1, 2009 10:52am
any of you guys on skype? pm if so
  • #634
  • Sep 1, 2009 10:54am Sep 1, 2009 10:54am
Quoting jtmoore007
any of you guys on skype? pm if so
Yahoo IM but not Skype.
  • #635
  • Sep 1, 2009 11:05am Sep 1, 2009 11:05am
WE rn't trying to keep anyone out of any loop here but will update when we sort out exactly what indi is supposed to be doing
  • #636
  • Sep 1, 2009 12:15pm Sep 1, 2009 12:15pm
ok, im not sure if this is doing any good or not. what we are trying to do guys is come up with an indi based on the spreadsheets. what the spreadsheet does is take the close of eu and subtrace gu from it to give a value "Delta"

what was said earlier is that if Delta is greater than .2000 then buy one sell one

if Delta is less than .1900 then buy one and sell one.

what i want to know is which pair to buy and which to sell in the given circumstance.

what is shown below is a plot of the prices when delta goes from >.2000 back down to a midpoint of .1950 and from below .1900 up to midpoint of .1950

but im not seeing a clear picture of what its telling me.

1st picture: price was almost in perfect correlation

2nd pic looks like you could make money if you short the $ and bought Cable

3rd pic looks like you could make money if you bought the $ and sold Cable. but you would have had to pick a nice spot to get out or your profits would deminish.

i guess i need more data points????
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Dream 1.png Size: 20 KB
Click to Enlarge Name: Dream 2.png Size: 21 KB
Click to Enlarge Name: Dream 3.png Size: 21 KB
  • #637
  • Sep 1, 2009 12:18pm Sep 1, 2009 12:18pm
In Other Words:

someone tell me what the spreadsheet is telling me
  • #638
  • Sep 1, 2009 1:16pm Sep 1, 2009 1:16pm
Quoting jtmoore007
In Other Words:

someone tell me what the spreadsheet is telling me
I will explain when I get home what I believe the data is saying.
  • #639
  • Sep 1, 2009 1:20pm Sep 1, 2009 1:20pm
Quoting jtmoore007
In Other Words:

someone tell me what the spreadsheet is telling me
I am still studying this, but from what I have seen so far,
Buy GBPUSD and Sell EURUSD when number is going from low to high
Sell GBPUSD and Buy EURUSD when number is going from high to low..

That is what it seems to me so far.

Bruce
  • #640
  • Sep 1, 2009 1:49pm Sep 1, 2009 1:49pm
Quoting jtmoore007
I know there are trade management eas that can exit only a particular pair if it is in profit but i don't think it will exit ( if your eurusd and gbpusd cross trade is in profit - only close these two pairs)

also what happens if you are like me and have two different "sets" of trades open but both involve a particular pair. like right now im in 3 "sets" of trades all involving the usdjpy. so how do you tell it to close the "right usdjpy" trade. and you also now have FIFO rule to look at.
The brokers I trade with (IBFX and FXCM UK) are not affected by FIFO so that is of no concern. You would use a magic number in the EA to enter and exit each set. Each set would have its own magic #. Will work on this when I get a chance. It can be done:
http://articles.mql4.com/388
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