Indicators development for T101's not very simple method

Recently I read an article about stoplosses.

They did a test, where they created two groups of people that had never traded Forex before.
The first group they taught them a little MM, which involved setting stoplosses to minimize their losses.
The second group were taught nothing at all.

Then they set them to trading...

In the end- the first group surpassed the second group in profits.
Not only that...everyone(individually), in the first group, made more than the best trader in the second group.

**I need an EA, who's sole responsibility is to stop out a Pair-when they reach a preset pip loss!!
That will allow me(as Don stated), to free up resources towards more beneficial trades.

The biggest question is how much of a loss are we willing to take, per Pair lol

The truth be told- I havent been using any stoplosses at all, and haven't closed any trades in the negative, and there are some trades that are into significant drawdown...but for some reason I am still able to trade, and make pips.

hello,texmade1:
I come from a friend of China, admired the performance of your 3500 points per week. Could you give me your metrics package to download it? MT4 and your work window. There is the appearance of your entry way. Thank you! I'm sorry, forgive my poor English

yinglong

ajewopf

The T101 Basket Trading System is based on a weekly or longer setup.
The original idea is to place your IA on Sunday evening and then leaving it till at least Tuesday morning before placing your trades in the direction given by the IA.

Fortunately there are great coders on this forum who have produced indicators, scripts and EA,s that can quite accurately replicate (give or take) the original IA. These codes are based on pure price action and IMO you can not obtain the same results using conventional indicators. (Believe me i have been trying for the last couple of weeks, but always return to the PA indicators.)

If you want to trade short term, then IMO you must take a smaller profit and do not try to ride it to the max. If the Asian Session is working for you on short term then maybe you should only trade that session.
Trading short term requires quite a bit of pc time. And having returned to work i am only trading 1 and sometimes 2 baskets a day.

I mainly trade London and the US sessions.

I am back to trading 14 pairs since Thursday last week with fair results.
For some strange reason since i have returned to work after my vacation the 8 pairs are not working quite as well as before. I think they might require more attention/focus than the 14 pairs, or it is the changing markets again.

Regarding the Currency Meter you propose, there are many threads on this forum that do that.

Regards

Gvc,

You're not using Daylight Savings Time in any indicator or EA are you? If so and at least in U.S., went OFF of Daylight Savings Time between Saturday and Sunday in middle of night.

Regards,

Don

Have you tried SteveHopwood's MPTM? It is a very versatile MM EA, but you can set it up to manage just stoplosses

Texmade1.

Till now, and I lookeded back all your posts you did not free any expert or personal knowledge you have, althought you received a lot of experts and Indi. from GVC and Don...

Be fair to the thread, and as you give as you get.

Best regards

Hello Don

No its not the Daylight Savings!

We seem to be in a strange stage of the market.
e.g for the past few months when the EURUSD went up, then so did the EURJPY.
So on my 8 pair Buy, 99% of the currencies went up for a decent strike rate.
However since last week the JPY seems to be moving in the opposite direction to its counterpart.EURUSD up and EURJPY down.

It might just be at this particular period. I honestly dont know?
What i do know is that T101 offers many options, and the 14 pairs are looking good again.

Regards

This is really very impressive. There have been so many versions of T101 on this thread. Is it the Orest's, Don's,Samir's,ZZ's, etc,etc

Now that we have a working method under the basket strategy on this thread, maybe we need to summarise where we are and take off from there.

Are you using any EA, do you trade during news, do you observe any session, etc

We have gone through many tweaking and some of us are left gasping for direction.

Many thanks.

Peter

This is really very impressive. There have been so many versions of T101 on this thread. Is it the Orest's, Don's,Samir's,ZZ's, etc,etc

Now that we have a working method under the basket strategy on this thread, maybe we need to summarise where we are and take off from there.

Are you using any EA, do you trade during news, do you observe any session, etc

We have gone through many tweaking and some of us are left gasping for direction.

Many thanks.

Peter

To all of you great guys that have got success with this system and will be ready to give back to your struggling colleagues.

Now I know this system works because it is a price action based.

While we were trying out all forms of approaches, so many people have suggested many things. We did not really agree on any of the approaches.

Talking about the dashboard, at what point do we take the signal from the dashboard. There are many columns from days to 30M in some versions.

Do we wait for all the column to say "Strong Long/Strong Short" or just daily and 4H agreement should be okay.

Thanks for your feedback

Peter

I use the last Semafor (+ spread + 1 pip) for pair's stoplosslevel for sell, and last Semafor (- 1 pip) as pair's stoplosslevel for buy. It already in more than one EA of mine for this purpose.

My MM gives autolots for compounding purposes (to snowball account for fastest-as-possible growth).

The larger timeframe, the larger stoploss required, so Lots will have to be lower, so account grows slower. The smaller the timeframe, the smaller the stoploss required, so Lots can be larger, so account grows faster.

I just watched a video that shows what I'm talking about, but it's already been programmed. What is needed are indicators used, rules (including stoploss), and template of set up chart so I can make sure I'm using the same as you are.

If I get incomplete information it will only hinder the process. The robot MUST trade EXACTLY like the trader, or it will not get the same results. And honestly that's the best case scenario. But holding anything back and I'd rather not even code anything anymore, since I'm WAY past burnt out on EAs honestly, even though I plan on building a simple one for the M1 charts trading one pair and making Lots like:
= (Account Balance x (RiskPercentx0.01))/(PipStopLoss x PipValueOfOneLot)
= 250 x 0.05 / 11 x 10
= 12.5 / 110
= .11 (One mini lot and one micro Lot. True pip value will be $1.10 per pip)

If compounding and not withdrawing funds, when I get to $50,000:
= (Account Balance x (RiskPercentx0.01))/(PipStopLoss x PipValueOfOneLot)
= 50000 x 0.05 / 11 x 10
= 2500 / 110
= 22.73 (22 standard Lots, 7 mini Lots, and 3 micro Lots. True pip value will be $227.30 per pip)

Now with one pair risking 5% per trade, with $50,000 and 11 pip stoploss, I could trade for $227.30 per pip. But compare to basket, risking 7% per basket/0.5% per pair:
If compounding and not withdrawing funds, when I get to $50,000:
= (Account Balance x ((BasketRiskPercent/14)x0.01))/((BasketPipStopLoss/14) x PipValueOfOneLot)
= 50000 x (0.5 x 0.01) / (560/14) x 10
= 50000 x 0.005 / 40 x 10
= 250 / 400
= 0.63 (6 mini Lots, and 3 micro Lots. True pip value will be $6.30 per pip)

So I'm having to risk more basket trading, but less risk per pair, so Lots have to be MUCH less (must satisfy margin requirements whether on one pair or spread over 14 pairs). The ONLY way that basket trading makes sense is if you can make a lot of pips like you are. If you share with us, I will share the EA, and hope that it works, and if not, then hopefully another coder would step in to help correct any problems.

So I don't have to do baskets, but I would like to. If you want to work together, drawing on our different strengths, then I would appreciate it cause I hate my job, hate getting up going to it, living partially on credit cards, and see no light at the end of the tunnel on some days when I'm especially depressed. I can know how to do it ALL, but since I'm a basketcase, I'm screwed in the end. If you see no reason to give to people like myself, then that's cool. I just am about at my breaking point sometimes, and other times I'm making it OK. I just know I'm done giving when I see so little in return. I even have made EAs and given to several people that have given to me in the past in some way, and the EAs don't get tested except by myself and one other person, and instead of feedback, I get more "systems" that have NOT been proven, and I'm done with that. I got something that works, and I will do everything myself and keep it to myself from now on, maybe sharing with one other person, maybe two. That's it.

Unless I see cooperation, then I have no reason to keep wearing myself out when my EAs don't even get tested, maybe one other coder has helped me out with the exception of Robert, but even this coder is doing fine financially I guess, so no reason to go out of his way to help, although he does and I appreciate what he does. I guess I've offended Robert too many times, so he's gone. All I can say is I've done my best at times, and at other times I could barely hold it together (and honestly feel like I'm holding on by a thread - no pun intended).

So you want to share openly? I will share openly. I can't read minds, and I'm done trying to understand partial strategies or people leading me along partially hoping or thinking I'll "figure it out". Screw that. I'm friggin' TIRED! If I've offended you or anyone else, I'm sorry. It was not intentional. I just know it's Thanksgiving almost, and yes I'm thankful for my family and friends that God has given me. It's almost Christmas, when I celebrate God coming in human flesh (Jesus) with His plan to save the (people of the) world. But when I think about buying Christmas gifts, and how my 10-year anniversary is coming around the corner, all I can do is get depressed, because I can't afford to give my wife what she wants for anniversay, or what I'd like to be able to give her. At Christmas, I hope we draw names again this year, so that maybe I don't have to go much further in debt any faster than I already am, since I don't make enough money to take care of everything financially that needs taken care of (including a friend and her son staying with my wife and I -- we can't afford it, but can't turn them away because they have nowhere else to go, and I certainly won't be throwing them out in the cold this winter). Am I wrong and lack faith? Yes, I guess so. I know that ALL good things come down from the Father of Lights. I know I am nothing and have nothing without Him. I try to freely give because I have freely received. But I am human, and I fail. A Lot. And I'm just wondering how much suffering are we supposed to be expected to handle. I've given 100% as long as I have been able to. My tank is empty in multiple areas of my life. Am I to blame? I don't even know anymore. I'm saved by grace, and not works. And that's a great thing because yes I sin. Too much. I don't want to sin. Anyways, back on target, I don't care if people that don't give actually reap a harvest from an EA if one is made of your strategy. You know what? I don't care anymore. I was planning on sharing my wealth anyways. And it was always more about FREEDOM than money to me anyways. I just long for FREEDOM.

[Edit: Don't ya just got to LOVE the way things just seem to happen when you think you can't handle any more?! I mean, just as I posted the above, my wife comes in and tells me there's something wrong with our only car - 15 year old car BTW. So now I may not even get to go to work, where is the only place I actually make money.] I may or may not respond to anyone after this. I just don't know.

[Edit 2: Yeah, car broke down on my wife. Figures. Anyways, let's compare two sets of trades I have going in demo right now, K?
One pair: EURUSD. Timeframe: M1. RiskPercent: 2. Stoploss: 11 pips. Lots (using margin requirement code I made, so Lots could have gotten reduced so no margin call): 18.30. Pips gained: 53.1 $ gained: Approx. $1000, or 10% gain on $10,000 demo account.
Basket trade on same account: 8 pairs using Stochastic and another indicator, opened trades but didn't close them like they should have, but they are in profit also: about 7% gain on basket, with a lot more pips gained. Why? Lots on basket could only be 1.31 (a lot less than single-pair trading on lower timeframe).
BTW, neither of the EAs worked as planned, but they opened trades correctly, just didn't close the trades correctly. So let's just say I'm concentrating at the moment on refining my M1 EA, and won't need a basket EA if that's successful. Plus the strategy I have now scales to higher timeframes or the basket, and uses only your regular MT4 indicators. Another EA I may write from scratch is just based on price action with no indicators, although I may use Semafors with it to help me.

Regards,

Don

Yinglong,

I see you just joined up with FF a few days ago and this is your first Post.

Welcome to the club!! lol

If you find Post #3161- you will find my work window.

Most of the indicators can be found right here in this thread
The other two- "ArenDIs" and the "Absolute Strength", are in FF- and can be found very easily using google.

Thanks- I noticed they were talking about it, in the Phantom 6 thread

I do not use any secret indicators- or EA's

Last week we were leading up to the G20 Summit in South Korea

Most of the countries represented there at the Summit, broke with the USA over it's desire to use "Quantitive Easing."

Quantitive Easing is when the Federal Reserve buys US debt.
They are doing it by creating 100's of Billions of dollars out of thin air(could end up being Trillions)
The printing presses are runnning 24 hours a day.

So there is some kind of realigning of the currencies going on...

They sort of agreed to keep from lowering their currencies, in order to avoid a currency/trade war. But the USA is going their own way.

Here is a picture of my background chart.

The main one is Gvc's "T101"

The first indicator group is "ArenDIs" which shows in colour- major price actions.
Superimposed on top is: Don's "T101 BuyallPairs" indi

The next indicator is "Absolute Strength", and it tells me the same as Don's T101- pretty much.

I only occasionally look at this chart and indicators, because I use the marketwatch indicator built into MT4 to make most, if not all of my decisions

The Chart is for reference- it tells me the trend of the basket.

I sometimes use the "BUYall", "SELLall" EA's to get in the market fast.
And there is an EA that closes my trades(all of which can be found easily in this thread)

Soon I will be adopting a stoploss EA, when I find one suitable to my needs.

Thank you friend

Peter

thank you for you answer,texmade1:
I've seen your work window, please forgive my stupidity, I do not understand is when you buy, when to sell.
I have been concerned about this forum but have not spoken very much appreciate your help!

yinglong

Hello GVC
The attached zip file is corrupted. Could you kindly repost it
Thanks
Peter

Here you go.

I have attached my presets for 8 and 14 pairs as well as auto trading.

Regards