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scooby-doo BOJ JPY pairs trading robot

  • #2,441
  • Nov 17, 2009 8:02am Nov 17, 2009 8:02am
Quoting scooby-doo
One area i am looking at is picking the dominating/highest value pair being GBPJPY and using that as an indicator for S/R etc. It will work if correlation with the other pairs holds. But that is a big assumption.
I think SR works well with the basket, and might be excellent addition to 24/5 robot.

This may not be relevent, since it based on manual trading and takes a LOT of screen time--- I have had some pretty good luck over the last few months, trading pretty much this same basket using supp/resis and fibos drawn on the on the GJ, sometimes the EJ.
BUT I draw these manually (on the 4 hr), which makes it uncodable (I suppose) looking for supp/resis on GJ, and watching the other pairs charts to see if the other pairs bump against similar levels. Naturally, the entire basket tends to hit SR same time. They also tend to move along their respective fibos together as well (it seems to me)

Usually, it's my observation, that when the GJ breaks, the basket tends to follow, and can get some pretty big moves. But Scoobs is probably right, SR on one pair is probably not consistent enough to code into a robot. Sometimes the pairs scatter when SR is broken, which makes a very messy trade.

It would be handy to have a basket chart (we don't have one yet do we?) but I understand they are very difficult to make.

Excuse me if I am stating the obvious, only trying to contribute some food for thought.

PS Robots working well on demo. Good Profits. Thanks again Steve and Scoob!
  • #2,442
  • Nov 17, 2009 8:04am Nov 17, 2009 8:04am
Quoting Beshakey
I think SR works well with the basket, and might be excellent addition to 24/5 robot.

This may not be relevent, since it based on manual trading and takes a LOT of screen time--- I have had some pretty good luck over the last few months, trading pretty much this same basket using supp/resis and fibos drawn on the on the GJ, sometimes the EJ.
BUT I draw these manually (on the 4 hr), which makes it uncodable (I suppose) looking for supp/resis on GJ, and watching the other pairs charts to see if the other pairs bump against similar levels. Naturally,...
Good observations.

I am also looking at 200 SMA on GBPJPY to see if that can help.
  • #2,443
  • Nov 17, 2009 8:25am Nov 17, 2009 8:25am
Quoting Beshakey
I think SR works well with the basket, and might be excellent addition to 24/5 robot.

This may not be relevent, since it based on manual trading and takes a LOT of screen time--- I have had some pretty good luck over the last few months, trading pretty much this same basket using supp/resis and fibos drawn on the on the GJ, sometimes the EJ.
BUT I draw these manually (on the 4 hr), which makes it uncodable (I suppose) looking for supp/resis on GJ, and watching the other pairs charts to see if the other pairs bump against similar levels. Naturally,...

I watch and notice similar movements-- some pairs follow their S/R TL's much better than others-- but when they break-- backup the pip truck because the whole basket is going with it.

4 hr SR on GY maybe tough to use given its range for the past two weeks... (obviously because of UY and GU)
  • #2,444
  • Nov 17, 2009 8:37am Nov 17, 2009 8:37am
Quoting Beshakey
I think SR works well with the basket, and might be excellent addition to 24/5 robot.

This may not be relevent, since it based on manual trading and takes a LOT of screen time--- I have had some pretty good luck over the last few months, trading pretty much this same basket using supp/resis and fibos drawn on the on the GJ, sometimes the EJ.
BUT I draw these manually (on the 4 hr), which makes it uncodable (I suppose) looking for supp/resis on GJ, and watching the other pairs charts to see if the other pairs bump against similar levels. Naturally,...
Check out this thread for an excellent programmable S/R indicator which also outputs to a file for use with an EA. It is also multi TF, so you can for instance use daily S/R ranges on an M15 TF.

http://www.forexfactory.com/showthread.php?t=204276

Could be added to the EA on GJ. Not sure how much value it would add ... thoughts anyone?
  • #2,445
  • Nov 17, 2009 8:45am Nov 17, 2009 8:45am
Quoting macman
Check out this thread for an excellent programmable S/R indicator which also outputs to a file for use with an EA. It is also multi TF, so you can for instance use daily S/R ranges on an M15 TF.

http://www.forexfactory.com/showthread.php?t=204276

Could be added to the EA on GJ. Not sure how much value it would add ... thoughts anyone?
Would only work if correlation holds between GBPJPY, EURJPY, AUDJPY etc.
  • #2,446
  • Nov 17, 2009 9:02am Nov 17, 2009 9:02am
It is a relatively simple matter to code the robot so it will recognise horizontal lines on a chart and derive the price at which they are drawn. Likewise, 'big number' support.

The question is whether this can be helpful when only one chart can be monitored this way.

  • #2,447
  • Nov 17, 2009 9:20am Nov 17, 2009 9:20am
Quoting SteveHopwood
It is a relatively simple matter to code the robot so it will recognise horizontal lines on a chart and derive the price at which they are drawn. Likewise, 'big number' support.

The question is whether this can be helpful when only one chart can be monitored this way.

No it wouldnt be of any use Steve. What we actually need is kind of the reverse like the indicator we use. A JPY support/resistence lines but how you go about coding that, i havent got a clue, yet.
  • #2,448
  • Nov 17, 2009 9:21am Nov 17, 2009 9:21am
Quoting scooby-doo
Would only work if correlation holds between GBPJPY, EURJPY, AUDJPY etc.
Unfortunately it doesn't. GBP and EUR aren't always held as JPY is moving during the 24/5 basis. Several times a day they will move the EU UY or GU UY to get the dissired effect on the cross.
Most often this is 90 mins after a session starts and 90 min before a session ends.

I want to cry-- because you can't see any of my posts - and my main method of trading is watching to see what the other pair is doing as an indicator, that and TL's
  • #2,449
  • Nov 17, 2009 9:36am Nov 17, 2009 9:36am
Quoting macman
Check out this thread for an excellent programmable S/R indicator which also outputs to a file for use with an EA. It is also multi TF, so you can for instance use daily S/R ranges on an M15 TF.

http://www.forexfactory.com/showthread.php?t=204276

Could be added to the EA on GJ. Not sure how much value it would add ... thoughts anyone?
That's a thought, Macman.

When the correlation breaks down, and the basket doesn't work. That beats the crap out of your account. That's what happens with the T101 strat where you are trading correlations with nearly all the currencies at once, correlation breaks down easily. The trick is recognizing it, and you have to understand Fundamental Analysis to catch it early.
Maybe that's the advantage to trading only the strength of one pair, the yen. The correlation should hold much better, thanks to the BOJ jiggering around with supply and demand. Maybe that makes your idea more doable.

By the way, the GJ has been in about a 60 pip range over the last day and half with occaissional forays above and below resistance around 149.50. Also, longer term, about a 300 pip range over last couple weeks. Bet there will be a BIG move once this longer term range is broken. Above 151.50??? or below around 148.40 or so???.
(only amateur observation let the taunting begin)
Looks like the robots handle ranges pretty well, since they are mostly showing profit. Be interesting to see what the robots do with a good trend. Especially the 24/5 robot.
Sorry to be so wordy today, but the thread is fairly slow at the moment.

Shakey
  • #2,450
  • Edited 10:36am Nov 17, 2009 9:42am | Edited 10:36am
If one is looking for Time periods to trade and not trade- then the difficult part is the London close/US overlap -lots of news. But once the news is complete-All one has to do is determine whether distribution and accumulation took place during this TF (might be tough into an EA)

For example is 10:40 EST and they are now dropping the GU and EU dropping the GY and EY -- But they are raising and holding the UY

At 11:00am ESt they stoppped dropping GU/Eu/Au and then raised UY-- raising all the JPY crosses -- How to code for this?
  • #2,451
  • Nov 17, 2009 9:54am Nov 17, 2009 9:54am
Quoting Beshakey
Sorry to be so wordy today, but the thread is fairly slow at the moment.
That's partly because I am not releasing a new version every 5 minutes.
  • #2,452
  • Nov 17, 2009 10:04am Nov 17, 2009 10:04am
After thinking about it, we dont need to worry about S/R with this system. The only thing we need to worry about is the devaluing of the Yen. And there is not an MT4 indicator for that.
  • #2,453
  • Nov 17, 2009 10:25am Nov 17, 2009 10:25am
Quoting matrixebiz
I think some of the issue is also that there are different market hours out there that people look at. Oanda for one
http://fxtrade.oanda.com/resources/fxmarkethours/
says Tokyo opens at 00:00 GMT but according to Scooby and another site

http://forex.timezoneconverter.com/i...?timezone=GMT;
it opens at 23:00 GMT

I think that is why also that at the beginning we were thinking that Tokyo opens at 00:00 GMT so you set your EA default to 22:00 GMT
Yes Matrixebiz, you are right. Most of people are confused not from timezone calculation, but from reading different times of Tokyo's open in this thread.
First post say, that everybody have to look to Oanda site -on this site is information, that Tokyo opens at 0:00 GMT.
Scooby wrote here and here, that Tokyo Forex market opens at 23.00 GMT. Difference is ONE HOUR.

So which time is correct????
Pavel
  • #2,454
  • Nov 17, 2009 10:29am Nov 17, 2009 10:29am
Quoting maya007
Yes Matrixebiz, you are right. Most of people are confused not from timezone calculation, but from reading different times of Tokyo's open in this thread.
First post say, that everybody have to look to Oanda site -on this site is information, that Tokyo opens at 0:00 GMT.
Scooby wrote here and here, that Tokyo Forex market opens at 23.00 GMT. Difference is ONE HOUR.

So which time is correct????...
not again.
  • #2,455
  • Nov 17, 2009 10:31am Nov 17, 2009 10:31am
Quoting maya007
Yes Matrixebiz, you are right. Most of people are confused not from timezone calculation, but from reading different times of Tokyo's open in this thread.
First post say, that everybody have to look to Oanda site -on this site is information, that Tokyo opens at 0:00 GMT.
Scooby wrote here and here, that Tokyo Forex market opens at 23.00 GMT. Difference is ONE HOUR.

So which time is correct????...

banned
  • #2,456
  • Nov 17, 2009 10:36am Nov 17, 2009 10:36am
Quoting scooby-doo
not again.
sorry, but people will still ask if here will be two different times of market open.
Pavel
  • #2,457
  • Nov 17, 2009 10:41am Nov 17, 2009 10:41am
Quoting maya007
sorry, but people will still ask if here will be two different times of market open.
I gave the answer to this yesterday, go and read it.
  • #2,458
  • Nov 17, 2009 10:46am Nov 17, 2009 10:46am
Quote
sorry, but people will still ask if here will be two different times of market open.


and they have been for 160 odd pages, even after being told they will be banned...

gees, if its really that hard they/you should not be in forex...

we have a great system from scooby, programmed equally greatly by steve, with the help of other great coders and its more than likely going to end up on a forum where the average trader (ie me) cant get access to it cos of MORONS who cant tell the time....

will you please do every normal trader a favour and GO AWAY!!!!!!!

sorry rant over (probably be banned as well now..)

many pips to us all

Grant
  • #2,459
  • Nov 17, 2009 10:47am Nov 17, 2009 10:47am
Quoting scooby-doo
I gave the answer to this yesterday, go and read it.
I read it as I read all posts here, link to your post I wrote before. You wrote 23.00 GMT.
In first post of this thread is link to oanda, when Oanda's time 0:00 GMT is wrong. So can be edited to correct time 23.00 GMT? This will stop discussion about opening times. Thats all.
Thank you.
Pavel
  • #2,460
  • Nov 17, 2009 10:59am Nov 17, 2009 10:59am
Quoting maya007
Yes Matrixebiz, you are right. Most of people are confused not from timezone calculation, but from reading different times of Tokyo's open in this thread.
First post say, that everybody have to look to Oanda site -on this site is information, that Tokyo opens at 0:00 GMT.
Scooby wrote here and here, that Tokyo Forex market opens at 23.00 GMT. Difference is ONE HOUR.

So which time is correct????...
Please stop posting about this, Pavel. If it weren't you posting this, I would already have barred you from further postings.

Others will not be so favoured.

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