Looser Trading System (Version 0.01-1/3)

Looser,

Why didn't u open the trade in the following order since the pairs are moving in opposite direction.

Buy - EURUSD,GBPUSD,AUDUSD
Sell - USDJPY, USDCAD, USDCHF

BuyStop - USDJPY, USDCAD, USDCHF
SellStop - EURUSD,GBPUSD,AUDUSD

If you want to try trading like eTrader but with fully automatic means, the closest to it that I have so far would be LooserKissMe_09, available here:
http://www.forexfactory.com/showpost...36&postcount=1

In the spirit of how the forum moderators organize the subforums, let's keep discussion of the EA in that thread, not here.

In a little while I'll discuss THE STRATEGY and ITS TACTICS right here on this thread.

Happy trading!

Let's look at the six pairs traded as two groups of three.

One group has USD on the right.
EURUSD
GBPUSD
AUDUSD

The other group has USD on the left.
USDCHF
USDJPY
USDCAD

This means that if you trade all six pairs on one direction, you have entered a loose hedge situtation because you have three pairs that will tend to rise as USD strengthens or weakens, and another set of three pairs that will tend to sink as USD strengthens or weakens.

The six non-USD currencies are unique: EUR, GBP, AUD, CHF, JPY and CAD. Forum member Looser split them into two groups and called them the husbands and the wives, which is amusing.

Anyway, notice that do not try to set up a pure synthetic hedge. We have a "loose" hedge, though. We could keep these trades open in one direction quite a while, and would probably come into profit eventually purely due to the diversification. Sometimes we would see a floating loss, but other times things could very well go in our favor. There is no way of knowing which way it will go after we enter the trades.

Looser proposed a tactical framework for trying to gain profit without waiting too long, which I always like to see.

He proposed that we put 30-pip stops on each trade, and reverse each trade just one time if the stop is hit. The reversal trades would also have 30-pip stops. Then, we simply wait until our equity rises above where it was at the previous high watermark and close for profit when we see fit, or until the second set of stops are hit for a loss.

This is a simple tactical framework.

Taking the idea and running with it, eTrader defined entry criteria which he appears to apply in a disciplined way. At London open, he looks at a weighted six-pair relative vigor index (RVI) to determine his overall long or short bias. This should often give an edge for getting the basket into profit sooner. Then, as far as I can tell, he stays within the tactical framework.

I hope I have accurately represented what is going on here, and that it helps someone.

Good trades to you all.

eTrader, where are you are?

The trade entry you propose banks entirely on USD weakness. Going all long or all short is a much more balanced entry situation.

Hello Frazerd,

Very Happy Birthday to you.
Enjoy your special day.

And thanks for all your help.

May the pips be with you.

Happy birthday frazerd, most disciplined trading system inquisitor I ever saw!

Thanks for the birthday wishes and the compliments. I had a good one, but at 72 I would just as soon pass on bir4thdays.

eTrader, one thing I still don't get it. On that Screenshot below

Is that 6 different charts minimized with that "W_RVIM"

indy showing? Or this is some how fit on just 1 chart???

Hard to see details. Also chart # 2 and #4 from the bottom

are flat or going different direction, is that's ok (you take those pairs LONG as well?)

Thanks

@skyzerz
did u found the clarity indicator ??

Looser bhai... where are u?
No reply from long time

i' am sorry but...
i put EA on one of chart group or all chart of group?

only one chart you must put the EA.....

for group o no ?

how do you manage the MM ? the tp is at 1% of the total order value. but the stoploss is at 30 pips and we can have max 12 stoplosses in a day. so how do you arrive at lotsize ?

can somebody give me the proper lotsize at 10000$ account ? my max loss in a day cant exceed 5% of account

thanks

That depends on your Stop Loss. If Stop loss is 50 pips

then 0.20 lot 1 trade will have potential loss of $100 which is 1%

of the account

Go from there. Depends how many trades you taking a day and your

Stop Loss.

@Skyzerfx

did u found the clarity indicator ??

u were looking for this in this thread >>>
http://www.forexfactory.com/showthread.php?p=3698513

Today first try on demo with MetaCoder's EA v10....
7:41GMT start with buy
stop with 5 pairs... about -30x5pips
current trading 1 buy, 5 sell... about +162pips

Please take EA discussions to the companion thread under Platform Tech.

i got sell at 7 am gmt as per rvi and got total 1% profit