Trading system using relative strength

Dear Thread,

Having been through most of the thread---I am not a trader but a fund of funds manager who hires traders and reads alot---there seems to be some informational content in the indicator. Hard to believe, but perhaps.
And so after these couple of years of trial and error on your parts, is it fair to ask you all what are the strengths and concommitant weaknesses of the indicator? In short, what are its strengths and what are its weaknesses?

Thanks very much,

Lenoxer

Now over 1000 pips...

could you post your market time indicator please I have looked through the attachmnets and cant find it

Thanks

paulus

15 minutes ago I cut loose the 3 biggest losers. Now running 12 pairs. Now over 2700 pips in profit, and I will let this basket run until it reaches around 4000 before resetting.

Paulus, here are the 2 best versions of FerruFx's indis. He never posted the code. It was later sold to a 3rd party and FerruFx no longer owns it or works with the code. Pity, I would have loved to have seen v4.

I am running v2 in my pix.

hi thanks for that

But I was after the indy that gives you your vertical lines for ,london open us open etc etc

hope you dont mind

cheers

P

Sorry, wasn't awake yet. It's over here:

http://www.forexfactory.com/showthread.php?t=296680

great thanks for being so quick with it

cheers

P

Closed out that last basket at 3000 pips. Here's another one that I started about 1 hr ago. Already up to more than 800 pips...

Just closed out that last basket at 1475 pips. So that makes a grand total of just under 5000 pips in the last 30 hrs.

How many trades was that and what was your exposure

IE did you risk a potential 2,500 pips on stop losses to get the 5000 or 5000 to get the 5000 ?

What % of your account did that represent

ie did the 5000 pips relate to a 1% growth in account due to the size of the lots or 20%

What have past losses been

ie have you lost 10,000 pips in the last 90 days and made 5,000 in the last 30 hours ?..are you getting 3 x 5000 pips wins and 1 x 15000 pips loss

I guess what Im trying to say is wd on the pips but in relation to what

If I make a winning trade it doesnt matter if its 10 pips or 50 pips I always make at least 5 -15 % per trade due to the MM I use

Cheers

P

Can you please tell us what your settings are for the indicators?
And how you are trading it?

Thanks.

Bruce

Here is one I modified that will work for you. It draws all of the historical lines so that you can look back to see what happened. You have to make the appropriate GMT shifts to align the sessions with your broker.

Regards,

KingHigh

I am trading baskets. This means I will have open any number of trades at once, from 6 to 16. Not actual figures, but the more, the better. And they will be comprised of both Long and Short trades. An even mix of Long and Shorts is preferred (50/50 split), but not essential. If there are 8 Longs and only 3 Shorts, so be it, so long as I have reason to believe the choices are based on proper evaluation of the current PA. FerruFx's heatmap indicator (v2) is helping me make my selections. The upper pairs chart is cool, but I pay more attention to the lower histogram section when making my pairs choices.

I am not winning 1000 and losing 3000 and only coming in here with the wins and not showing that I'm really 2000 pips in the hole. Why would I? My posts here are for me primarily and I don't care if anyone ever reads them but me. They help me focus on my trades. If anyone can learn from them that's great too, but really I couldn't care less if anyone follows them or believes them.

~Paulus, there will always be a couple of losing trades in the basket; expect it. That's why a bigger basket is preferred. There's no way to get 100% winners and there never will be -- at least not intentionally. Proper MM keeps the losers in check while the winners overwhelm the basket and take you into profit. The winning figures I've been posting already take the losers into consideration. When I say that I've closed with 2000 pips, I mean pips in profit, over and above any losses for that same basket.

~Brucech, ask me about specific settings, not just everything all at once.

Hi thanks for sharing. I am looking into using this same indicator and was wondering if you would share what Trade Level you use? It comes with Level 2 as default. Thanks and good luck!

Todays Trades. Weekly CCFP with trend level set at 10

Target profit 100 pips

My current template is attached.

Thanks for the fast reply!

Tony

Hi Forexhard

first of all congratulations on making a profit, basket trading has allways interested me but as of yet have not been able to make it work for me (maybe this method can help).

My main concern is with your pip counts, when I first saw them I thought wow, then realized that they are way too high.

I will use your post #1360 as the example - in which you stated "almost 800 pips already"

looking at your bottom line profit of 77.01 yes that is almost 800 pips when based on 1 order with a lot size of 0.01 (ie. around 10c a pip for most pairs)

however I do not know how many actual trades were open but in the ones shown in the attachment there were 3 trades with a lot size of 0.03, and another 6 with a lot size of 0.05

this means that 3 of the trades were running at 30c a pip, and 6 at 50c a pip

averaging this out total lots open was 0.39 for a 77.01 $ gain which is about 20 pips

based on 1 full lot at 10 USD, 0.1 lot at 1 USD

this difference explains why your pip counts are so high - in MT4 you can switch your terminal section to show profit in pips not dollars

None the less congratulations on getting your basket trades profitable.

Regards
John

John, I just looked at my past trades individually, and many of them were 20 to 40 pips each, not just 20 for the entire winning basket. Those last coiple of baskets were running for more than 3 hours. One of them ran for about 12. They each had multiple trades, both Long and Short. For your example to work it would mean that after 3 (or 12) hours the price moved just 3 pips per trade plus spread. This did not happen.

i like what i see here,signing in