Trading system using relative strength | Page 85 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading System Using Relative Strength-Part 2 1,499 replies

Updated CCFp and CFP indis for relative strength trading 55 replies

Relative Strength Basket Trading System 3,479 replies

Dyekid217 Trading relative strength and CICR 0 replies

VT Moving Averages of Relative Strength Index Alert Wanted 1 reply

Attachments: Trading system using relative strength
Exit Attachments

Trading system using relative strength

  • #1,681
  • Jun 8, 2011 6:20pm Jun 8, 2011 6:20pm
Quoting forexhard
Hey Kris,

The indi plays off the internal bar timer settings from within the inputs. If you input 10080 it will refresh weekly. 1440, every 24hrs. 240, every 4 hours, and so on. It is independent of the time of day, or what part of the world you might be living in. And the candles it is refreshing with are those of your broker. So again, it has no bearing on where you are physically. Does this answer your question?
Yes. Thanks
  • #1,682
  • Jun 8, 2011 7:16pm Jun 8, 2011 7:16pm
Todays Trades comparing weekly to daily.
I was able to create only 4 pairs that matched weekly and daily.

FH template is still refreshing. I am going to wait until refreshing is done.
Attached Image (click to enlarge)
Click to Enlarge Name: ccfplive.gif Size: 54 KB
  • #1,683
  • Jun 8, 2011 7:22pm Jun 8, 2011 7:22pm
FH your template says refreshing. Does it mean the histogram is also not done refreshing?

Should I wait for Refreshing to complete before creating basket
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: ccfplive.gif Size: 41 KB
  • #1,684
  • Jun 8, 2011 7:29pm Jun 8, 2011 7:29pm
I just closed out my 5 trades that I listed earlier for +85 pips.

Why'd I do it? I like to hear the cash register ring....AND since they were all buys and not an even amount of buys and sells, I wasn't really comfortable holding them overnight. I'll take 85 pips for 2:20 mins work every day of the week

EURUSD +23.8
AUDUSD +22.1
EURCHF +14.6
EURJPY +12.6
AUDJPY +12.4

Total: +85.5
Always a Student, Never a Master - Emulate What Works
  • #1,685
  • Jun 8, 2011 7:48pm Jun 8, 2011 7:48pm
The basket gave me 4 pairs to trade today. I took the list of 1440' (level 2) and compare it to the 240' (level 1) to match the pairs together. Here is my list :

EUR/USD - B
EUR/AUD - B
AUD/NZD - S
NZD/USD - B

I entered the trades a bit late, maybe 20 min after the H4 bar closes. Not sure it will affect the trade.

So far, EUR/AUD & AUD/NZD are in profit. Will check after 1 hour and see what pairs remain on the H4 list to see if I maintain my opened positions or close it (them) at their actual stage.
  • #1,686
  • Jun 8, 2011 7:57pm Jun 8, 2011 7:57pm
I always learned on the Forex - Keep the system simple

.... and also remember having read ES Trader in 2008 & 2009 working very hard to keep the system simple.

Indeed, instead of giving wrong ways to people to get confused, it would be much easier to inform that every indicators can be understood or used on different ways, which every you feel the most comfortable with.

Regarding the Tour Eiffel, it could also be the Tokyo tower...! Anyway, as we say in French : Ce qui se concoit bien, s'enonce clairement / translation : What is conceived well, stated clearly
  • #1,687
  • Jun 8, 2011 7:57pm Jun 8, 2011 7:57pm
Hi Robin, this is exc! I will try it out

Quoting RobinHood
I just closed out my 5 trades that I listed earlier for +85 pips.

Why'd I do it? I like to hear the cash register ring....AND since they were all buys and not an even amount of buys and sells, I wasn't really comfortable holding them overnight. I'll take 85 pips for 2:20 mins work every day of the week

EURUSD +23.8
AUDUSD +22.1
EURCHF +14.6
EURJPY +12.6
AUDJPY +12.4

Total: +85.5
  • #1,688
  • Jun 8, 2011 7:59pm Jun 8, 2011 7:59pm
I am having problems with the latest daily template posted by FH. I've tried various things to fix it but nothing has worked so far, and I do not see the issue. As the attached shows the Trade Level 2 Daily Suggestions and Daily histogram are missing.
Attached Image (click to enlarge)
Click to Enlarge Name: fh.gif Size: 18 KB
  • #1,689
  • Jun 8, 2011 8:04pm Jun 8, 2011 8:04pm
This is excellent! I also took some of the same trades although not as many. I am trading .01 lots on a live account and it is up $10 as of now. I am going to let them ride a little further.

Will you trade on the next Alpari 4 hour bar... that occurs in about an hour from now? In other words at 0400 GMT?

If you do will you use the same Daily indicator to pick trades since it updates? Or possibly the 4 hour indi? This is where I am getting confused on this strategy. Early in the thread they mention trading a basket every 4 hours. Thanks... Tony






Quoting RobinHood
I just closed out my 5 trades that I listed earlier for +85 pips.

Why'd I do it? I like to hear the cash register ring....AND since they were all buys and not an even amount of buys and sells, I wasn't really comfortable holding them overnight. I'll take 85 pips for 2:20 mins work every day of the week

EURUSD +23.8
AUDUSD +22.1
EURCHF +14.6
EURJPY +12.6
AUDJPY +12.4

Total: +85.5
  • #1,690
  • Jun 8, 2011 8:06pm Jun 8, 2011 8:06pm
After the next hour bar starts, my basket looks pretty good and the pairs are still displayed on the 240 min list:

- EUR/USD = 54 points
- EUR/AUD = 103 points
- AUD/NZD = 105 points
- NZD/USD = 38 points

Wait for an other hour.....
  • #1,691
  • Jun 8, 2011 8:12pm Jun 8, 2011 8:12pm
Quoting ES Trader
FH your template says refreshing. Does it mean the histogram is also not done refreshing?

Should I wait for Refreshing to complete before creating basket
Thanks
Yes, you should definitely wait for it to finish refreshing. The indi is pouring over a million ticks worth of data that it has collected since the last refresh, and you want to wait until it has re-calibrated with this new data. This fresh data is much more dear to us than data that is several hours old.
To improve is to change. To perfect, is to change often.
  • #1,692
  • Jun 8, 2011 8:13pm Jun 8, 2011 8:13pm
Here's mine and as you can see by the time at the top it's current and working fine. Why don't you download it again, delete the old one and upload it again. Sometimes things get messed up and we don't realize it so just start over fresh.

Attached Image
Always a Student, Never a Master - Emulate What Works
  • #1,693
  • Jun 8, 2011 8:14pm Jun 8, 2011 8:14pm
Quoting RobinHood
I just closed out my 5 trades that I listed earlier for +85 pips.

Why'd I do it? I like to hear the cash register ring....AND since they were all buys and not an even amount of buys and sells, I wasn't really comfortable holding them overnight. I'll take 85 pips for 2:20 mins work every day of the week

EURUSD +23.8
AUDUSD +22.1
EURCHF +14.6
EURJPY +12.6
AUDJPY +12.4

Total: +85.5
Good reasons, all. I am always extra cautious with a lopsided basket. Commendable work, great going!
To improve is to change. To perfect, is to change often.
  • #1,694
  • Jun 8, 2011 8:24pm Jun 8, 2011 8:24pm
Quoting adsanders

Will you trade on the next Alpari 4 hour bar... that occurs in about an hour from now? In other words at 0400 GMT?

If you do will you use the same Daily indicator to pick trades since it updates? Or possibly the 4 hour indi? This is where I am getting confused on this strategy. Early in the thread they mention trading a basket every 4 hours. Thanks... Tony
Tony,

I have only been taking new trades at 6 PM EST when the new day starts. I don't mind letting them run through the night if the basket is losing or just marginally profitable, but I don't see why you couldn't, I just haven't because I am so used to opening my trades at that time.
Always a Student, Never a Master - Emulate What Works
  • #1,695
  • Jun 8, 2011 8:28pm Jun 8, 2011 8:28pm
Thanks for the suggestion, I downloaded the template again, but that made no difference.

Something strange going on. I can change the time period for all other timeframes and then the suggestions and histogram show up, except for 1440 minutes timeframe. See attached, it is showing for the weekly time period. However, the bar ending time is still for the daily time period??
Attached Image (click to enlarge)
Click to Enlarge Name: week.gif Size: 28 KB
  • #1,696
  • Jun 8, 2011 8:31pm Jun 8, 2011 8:31pm
Quoting RobinHood
Here's mine and as you can see by the time at the top it's current and working fine. Why don't you download it again, delete the old one and upload it again. Sometimes things get messed up and we don't realize it so just start over fresh.

Attachment
today is definately lopsided. There is just one pair Eurjpy that matches on both sides.
  • #1,697
  • Jun 8, 2011 8:31pm Jun 8, 2011 8:31pm
I am still trying to figure this out though the way I use this indi is not basket trading.

I do not trust indi for entries because that is just the way I trade. I want to analyze for myself. The indi is just a tool to give me info on currency strength.
Attached Image (click to enlarge)
Click to Enlarge Name: result1.jpg Size: 94 KB
A successful trading depends on knowing what to analyze.
  • #1,698
  • Jun 8, 2011 8:33pm Jun 8, 2011 8:33pm
Quoting forexhard
Good reasons, all. I am always extra cautious with a lopsided basket. Commendable work, great going!
Thank you forexhard...and thanks for ALL your help.

I think many would argue that I should let my trades run longer, BUT I have to do what is COMFORTABLE for me as I have plenty of time to stress when my trades are losing.

I look at it like this, when you go fishing, you don't have to catch all the fish in the pond for it to be considered a successful outing, just take what YOU need and go home.
Always a Student, Never a Master - Emulate What Works
  • #1,699
  • Jun 8, 2011 8:35pm Jun 8, 2011 8:35pm
WOH! Closed my trades from post# 1682 for 100+ pip profit
Attached Image (click to enlarge)
Click to Enlarge Name: ccfplive.gif Size: 40 KB
  • #1,700
  • Jun 8, 2011 8:43pm Jun 8, 2011 8:43pm
Great job ES,

Your only loser was on the GBPNZD.

As I said earlier, there are certain pairs that I don't trade, that happens to be one of them.
Always a Student, Never a Master - Emulate What Works
0 traders viewing now