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Trading system using relative strength

  • #1,701
  • Jun 8, 2011 8:46pm Jun 8, 2011 8:46pm
Have closed my trades earlier than the next hour bar complete due to AUD & NZD high impact news.

All pairs have closed in Positive
Profit : 0.38%
  • #1,702
  • Jun 8, 2011 8:48pm Jun 8, 2011 8:48pm
Always... Always... Always check the news!

I left my Aud/Usd long trade open and at 8:30 CST the pair dropped 50+ points. After the fact I checked the news and there was some AUD news that made the pair drop like a rock.

Another lesson learned... I hope!

Quoting RobinHood
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.
  • #1,703
  • Jun 8, 2011 8:59pm Jun 8, 2011 8:59pm
Quoting adsanders
Always... Always... Always check the news!

I left my Aud/Usd long trade open and at 8:30 CST the pair dropped 50+ points. After the fact I checked the news and there was some AUD news that made the pair drop like a rock.

Another lesson learned... I hope!
You are quite right. It's interesting to see how the "Tradeable Pairs" have changed in the last 30 minutes. I don't really understand this refreshing bit.
  • #1,704
  • Jun 8, 2011 9:10pm Jun 8, 2011 9:10pm
Quoting adsanders
Always... Always... Always check the news!

I left my Aud/Usd long trade open and at 8:30 CST the pair dropped 50+ points. After the fact I checked the news and there was some AUD news that made the pair drop like a rock.

Another lesson learned... I hope!
My template shows AUD negative on both daily and weekly histogram, hence i was short AUD from 7Pm central time.

This is the template I used to choose today's pairs to create basket
Attached Image (click to enlarge)
Click to Enlarge Name: ccfplive.gif Size: 26 KB
  • #1,705
  • Jun 8, 2011 9:19pm Jun 8, 2011 9:19pm
Quoting ES Trader
My template shows AUD negative on both daily and weekly histogram, hence i was short AUD from 7Pm central time
I went long just after the new day opened at 5 PM CST according to my chart. I use Alpari. I can't post a pic at the moment because I am not on the computer I use to trade with.

The AUDUSD pair was up 25 points before the news hit.
  • #1,706
  • Edited 9:57pm Jun 8, 2011 9:35pm | Edited 9:57pm
Quoting adsanders
I went long just after the new day opened at 5 PM CST according to my chart. I use Alpari. I can't post a pic at the moment because I am not on the computer I use to trade with.

The AUDUSD pair was up 25 points before the news hit.
That's correct, but how could you have known how the news was going to affect things, it could have just as easily gone up 50 points. I've seen them change interest rates and the market spike straight up hundreds of points, then spike straight back down the other way hundreds of points and the stops get hit BOTH ways.

I once was trading the S&P 500 in 1998 and something big happened and I made like 13k in seconds.

I was trading the S&P 500 HEAVY and SHORT on the morning of Sept 11 and I watched CNBC play the attacks on the World trade center. My system said to be short and I felt like hell for making so much money while people were dying BUT it could have just as easily said to be long because no one, at least none of us knew that attack was coming. Who would have consoled me for losing a fortune?

My point is, ignore the news and trust your system and only worry about what you can control like always placing stops if you are worried and don't trade so big that ONE THING can take you out of the game. I don't usually use stops as I figure sometimes big moves will go my way and sometime it won't, but it will even out over time.

Some days you'll be the dog, and some days you'll be the hydrant. That's trading.
Always a Student, Never a Master - Emulate What Works
  • #1,707
  • Jun 8, 2011 9:58pm Jun 8, 2011 9:58pm
You make some very good points. I suppose the news could of been a good thing too! I didn't have any stops in place (per say) but instead use an EA that will close all trades once the loss reaches a designated total. Even though I was up over 100 pips total on this basket the AUDUSD pair proceeded to go down -70 points so my loss total wasn't threatened. The pair is now at -48 pips and seems to be climbing back up. I am hopeful it will go back up more. Thanks for your comments!


Quoting RobinHood
That's correct, but how could you have known how the news was going to affect things, it could have just as easily gone up 50 points. I've seen them change interest rates and the market spike straight up hundreds of points, then spike straight back down the other way hundreds of points and the stops get hit BOTH ways.

I once was trading the S&P 500 in 1998 and something big happened and I made like 13k in seconds.

I was trading the S&P 500 HEAVY and SHORT on the morning of Sept 11 and I watched CNBC play the attacks on the World trade center....
  • #1,708
  • Jun 8, 2011 11:53pm Jun 8, 2011 11:53pm
I reinstalled MT4 and now the template works. Kind of drastic but did the trick.
  • #1,709
  • Jun 9, 2011 12:06am Jun 9, 2011 12:06am
Thank you for the trading system.

I would like to ask about an issue about the tpl. It shows the Bar ending time as 2:36:55 which never changes...is that an issue? I am wondering if I have the latest indi and tpl set on my H4 TFs.

If its not the latest could someone please tell me where the latests and best configurations are?

I tried to search the thread but didn't get it.

Thanks a Ton
  • #1,710
  • Jun 9, 2011 12:19am Jun 9, 2011 12:19am
Quoting RobinHood
That's correct, but how could you have known how the news was going to affect things, it could have just as easily gone up 50 points. I've seen them change interest rates and the market spike straight up hundreds of points, then spike straight back down the other way hundreds of points and the stops get hit BOTH ways.

I once was trading the S&P 500 in 1998 and something big happened and I made like 13k in seconds....
This is another reason why I recommend a full basket (minimum 6 pairs) and as evenly distributed as possible with Buys and Sells. It's very difficult to disrupt such a basket with news, or anything really.
To improve is to change. To perfect, is to change often.
  • #1,711
  • Jun 9, 2011 12:21am Jun 9, 2011 12:21am
Quoting BlackStack
I reinstalled MT4 and now the template works. Kind of drastic but did the trick.
The main thing is that you didn't wait to be spoon fed and you went ahead and fixed your own problem. Respect.
To improve is to change. To perfect, is to change often.
  • #1,712
  • Jun 9, 2011 12:31am Jun 9, 2011 12:31am
So, is this system profitable?

Many trading systems posted here stop being profitable after several weeks or months. It looks like there are some periods when they do have nice profits, but then not....
  • #1,713
  • Jun 9, 2011 1:04am Jun 9, 2011 1:04am
Dear Thread,

An untested but old idea for profit-taking that might simplify your basket trading lives: put on a demo basket and chart the P/L of the basket as a line on a chart with its own MA. When the P/L line crosses above the MA you then would put on the basket live. When the P/L line crosses down below the MA, then you exit the basket. The parameter setting of the MA would depend on how much DD you're willing to suffer: the longer the MA the more DD but more tolerance for gain; the shorter the MA, the less tolerance for DD, etc.---you get it.

My best,

Lenoxer
  • #1,714
  • Jun 9, 2011 1:37am Jun 9, 2011 1:37am
Quoting forexhard
The main thing is that you didn't wait to be spoon fed and you went ahead and fixed your own problem. Respect.
Bro i like to try this system please can you direct me where i can download the latest template? thanks.
  • #1,715
  • Edited 5:36am Jun 9, 2011 1:58am | Edited 5:36am
  •  sym
  • Joined Apr 2011 | Status: Working... (too much) :) | 356 Posts
Quoting adsanders
Hi Sym,

Great job! I am looking at your trades you just opened and there are many "buy" trades that I just can't see how you came to the conclusion from the chart you have posted? Am I missing something?
Hi adsanders

I tried to open trades looking at the hysto, not at the hints.
Let's hope I did well. Times will tell us.
I use other basket-based system and I'm beginning to believe that when you open a "balanced" basket you almost always (sooner or later) have positive pips. The basket swing between minus - parity - plus.

So my provocation is: try to chose 6-8 or more pairs possibly using divergence and low spread. Randomly open half BUY and half SELL. Create more than 1 basket with the same pairs using different BUY-SELL.
Watch what happen!!!

I'll give it a try :-)

Have a nice day
--- nothing to say ---
  • #1,716
  • Jun 9, 2011 4:23am Jun 9, 2011 4:23am
Hello all Threats,
I guess it would be interesting to investigate more on the basket composition between Buy & Sell (to protect our assets)
As we always take the opposite currencies to trade and this gives us the direction of the pair to open, I am not sure we can really influence the direction of a reversal through this and it is very difficult to find pair which gives opposite direction to trade; we should have something like this to maintain the reversal balanced :
- AUD/USD (S)
- AUD/JPY (B)
... then, we might be able to absorb the difference made through the News publication.
... or find the non-correlated pair of AUD/USD to trade them.
Has anyone have an idea on it ?
  • #1,717
  • Jun 9, 2011 4:45am Jun 9, 2011 4:45am
Hi,
I try to use the template you published P109 # 1621 (June, the 8th) and I get a nice STATIC picture constitued with Objects BUT NO INDIs ????
When I right click (as you can see in the pic here joined) I don't even get the "Indicators List" !!!!

I'm lost !

TIA

Regards

BBF
Attached Image
BigBlackfeet Always on the(forex) war path !
  • #1,718
  • Jun 9, 2011 5:10am Jun 9, 2011 5:10am
make sure you got the same version of indicator in your file.



Quoting BLACKFEET
Hi,
I try to use the template you published P109 # 1621 (June, the 8th) and I get a nice STATIC picture constitued with Objects BUT NO INDIs ????
When I right click (as you can see in the pic here joined) I don't even get the "Indicators List" !!!!

I'm lost !

TIA

Regards

BBF
Attached File(s)
File Type: ex4 CCFp-Diff_[v2.0].ex4   96 KB | 758 downloads
  • #1,719
  • Jun 9, 2011 5:13am Jun 9, 2011 5:13am
Look, I know that FH has a bit of an attitude and he could have put things a bit differently, however I think he's right, he's right in a sense that if you want to create something good you need to work at it very hard, and also you need to add something personal to it that suits your personality to make it special. A fantastic system for everybody does not exist, and even if we create one, it won't last long because of the characteristics and the adaptation of the market. What we can do, is create our own system, based on the experience that we gather from each other.

FH has shown us what he uses, and I think the Indi is a good indicator, because it gets closer to indicate what the big guys are doing, and we only can make money if we follow them.

Now I have attached an image of the indi the way I use it, and it works for me. Will it last, yes it will if I continue to work harder.

Cheers
Il Brigante
Attached Image (click to enlarge)
Click to Enlarge Name: my template.jpg Size: 69 KB
  • #1,720
  • Jun 9, 2011 5:31am Jun 9, 2011 5:31am
BLACKFEET,

I dont know why you don't get an indicators list, I do on mine. You could try starting over, make a new chart and then add it again.

AFTER YOU GET the INDICATOR LIST to show up...

Click on that chart, go inside the Indicator List, find the indicator that you want the indi to show for (H1, H4, D1, W1) and open it. Scroll down to Display_Suggestions and change it from false to TRUE.
Always a Student, Never a Master - Emulate What Works
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