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Trading system using relative strength

  • #1,821
  • Jun 12, 2011 2:36am Jun 12, 2011 2:36am
Quoting Cypr3ss
It does not work because IBFX and some other brokers use and additional symbol in identifying the Pairs.


So for mini account IBFX uses an "m", for example EURUSD becomes EURUSDm.


The attached should work.
To Cypr3ss

Thank you so much, I wish you good health to you and to the people close to you.

All The Best
Il Brigante
  • #1,822
  • Jun 12, 2011 10:55am Jun 12, 2011 10:55am
I am hoping FerruFx would visit this site once again. I know he is pretty busy helping his clients.

I would like to him see the new template from ForexHard and see whether it is possible to create an indicator/EA to show currency pairs that matches W/D/4hr/1hr time frames .

This might also help us in closing the basket when there is a change in the strength/weakness of the currency pair that is in the basket .

Or may be there is some great programmer here that might be able to help.

Thanks
  • #1,823
  • Jun 12, 2011 11:05am Jun 12, 2011 11:05am
What I see so far is creating a basket seem to be pretty easy , Thanks to FH and his template.

Exit ,at least in my case seem to be a problem. I seem to be leaving lot of pips on the table and seem to be closing the basket too soon.

What if we can have an indicator that will have all our basket (comprised of opened pairs) currencies in them. I think I have seen it in one of the other threads ( may be from Dryclean). Let me check it again.
  • #1,824
  • Jun 12, 2011 11:08am Jun 12, 2011 11:08am
I think this thread has an indicator ,may not be exactly what I am looking for.

Worth checking it out

http://www.forexfactory.com/showthre...12522&page=261
  • #1,825
  • Jun 12, 2011 11:33am Jun 12, 2011 11:33am
Ideally, we all want to get every pip that a trade could give us, but that's not possible, at least not consistently.

So what IS possible?

You can limit how much you lose, by using stops or exiting manually.

You can have a realistic profit goal in mind and exit when you hit it, by using stops or exiting manually.

That's how I do it.

I often think of these sayings when I am trading and the trade I was in continues winning more pips without me...

"Pigs get fat, hogs get slaughtered"

And

"Striving for excellence motivates you; striving for perfection is demoralizing"
Always a Student, Never a Master - Emulate What Works
  • #1,826
  • Edited 1:59pm Jun 12, 2011 12:26pm | Edited 1:59pm
I agree with RH's philosophy 100%. Pick a good entry point with a varied basket, get out in a reasonable time, bank some pips, be happy with what you have earned, and live to fight another day (or basket, as the case may be.)

ES, I am not saying that the v2 indi is the only good indi out there. But I have tested every other indi I could find, even the ones in the T101 and Orest threads, but I'm still waiting to find one that does a better job than the v2. Because they all work well in their own way, but they are simply displaying the very same information that the v2 does, but in a much rougher and less refined way. Like using a hatchet when you could be using a scalpel instead. To each their own, but I prefer the scalpel method so far over all the rest. I am convinced the only way I''ll ever see a better indi is when the v2 gets upgraded.
To improve is to change. To perfect, is to change often.
  • #1,827
  • Jun 12, 2011 1:45pm Jun 12, 2011 1:45pm
Quoting ES Trader
I am hoping FerruFx would visit this site once again. I know he is pretty busy helping his clients.

I would like to him see the new template from ForexHard and see whether it is possible to create an indicator/EA to show currency pairs that matches W/D/4hr/1hr time frames .

This might also help us in closing the basket when there is a change in the strength/weakness of the currency pair that is in the basket .

Or may be there is some great programmer here that might be able to help.

Thanks

What exactly did you want done to the indis?

Pat
  • #1,828
  • Jun 12, 2011 2:27pm Jun 12, 2011 2:27pm
Quoting Pat1
What exactly did you want done to the indis?

Pat
I don't want to touch Ccfp v2.

I was just wondering whether an indicator can be created or an EA that will show the movement of entire Basket. If the indicator can be then used to time the exit. May be this indicator can ,say, below certain level would have less chance of making additional pips.

Not sure whether I am making much sense

I agree with FH totally. I do not want to mess with v2 ccfp .It is an excellent indi for entry.
  • #1,829
  • Jun 12, 2011 2:42pm Jun 12, 2011 2:42pm
Quoting ES Trader
I don't want to touch Ccfp v2.

I was just wondering whether an indicator can be created or an EA that will show the movement of entire Basket. If the indicator can be then used to time the exit. May be this indicator can ,say, below certain level would have less chance of making additional pips.

Not sure whether I am making much sense

I agree with FH totally. I do not want to mess with v2 ccfp .It is an excellent indi for entry.
ES,

I was also looking for something that would show the movement of the basket as a whole. I found this over the weekend and won't know until the market opens if it's what I want. See if this indicator helps you.
Attached File(s)
File Type: mq4 Bal_Eq_Ind_v1.1.mq4   8 KB | 621 downloads
  • #1,830
  • Jun 12, 2011 2:57pm Jun 12, 2011 2:57pm
Quoting ES Trader
I am hoping FerruFx would visit this site once again. I know he is pretty busy helping his clients.

I would like to him see the new template from ForexHard and see whether it is possible to create an indicator/EA to show currency pairs that matches W/D/4hr/1hr time frames .

This might also help us in closing the basket when there is a change in the strength/weakness of the currency pair that is in the basket .

Or may be there is some great programmer here that might be able to help.

Thanks
So far, I have used an EA to run the "journey" of the trade with the following settings :

- B/E + 5 Pips @ 30 pips
- S/T @ 30 pips with 30 pips of gap (step @ 1 pip)
- S/L = 100 pips
- T/P = 200 pips

I check every hour if my pairs are still in the basket and close the pair if they are not displayed any longer and not having passed the 30 pips. If they are on the "security zone", I leave it going as the Stop Trail is going to do the job.

But I agree that this part of "manual" checking, could be done through an EA to avoid the hourly check. Once the exit rules will be more clear, I will think of this
  • #1,831
  • Jun 12, 2011 3:05pm Jun 12, 2011 3:05pm
Quoting gilab
ES,

I was also looking for something that would show the movement of the basket as a whole. I found this over the weekend and won't know until the market opens if it's what I want. See if this indicator helps you.
Thanks. Will check it out with today's Basket.
  • #1,832
  • Jun 12, 2011 3:06pm Jun 12, 2011 3:06pm
Quoting cocoth
So far, I have used an EA to run the "journey" of the trade with the following settings :

- B/E + 5 Pips @ 30 pips
- S/T @ 30 pips with 30 pips of gap (step @ 1 pip)
- S/L = 100 pips
- T/P = 200 pips

I check every hour if my pairs are still in the basket and close the pair if they are not displayed any longer and not having passed the 30 pips. If they are on the "security zone", I leave it going as the Stop Trail is going to do the job.

But I agree that this part of "manual" checking, could be done through an EA to avoid the hourly...
Interesting. Will check it out.
Thanks
  • #1,833
  • Jun 12, 2011 4:36pm Jun 12, 2011 4:36pm
Looks like market has opened. Will wait for an hr for market to settle down.
then will start the basket
  • #1,834
  • Jun 12, 2011 4:49pm Jun 12, 2011 4:49pm
Quoting gilab
ES,

I was also looking for something that would show the movement of the basket as a whole. I found this over the weekend and won't know until the market opens if it's what I want. See if this indicator helps you.
ES,

I am a programmer and have written several indicators that track basket trading strategies. What I do is convert all of the currencies to US dollars and display dollars and not pips in the indie. That is the easy part -- beyond that I have been monitoring this thread from the beginning and have been studying how to dynamically displaying basket possibilities so that it would be easy select the buy and sell pairs with your mouse and track them visually. My personal goal was to create a back testing system, so that a trader could practice picking baskets and seeing the results from history data.

I have not spoken about this in the thread because I did not want to distract from your thread. I will proceed on my own or will share on this thread if you, ES, and only you want me to.

Some folks do not believe in backtesting, but I for one, believe that it is silly to condemn history charts when the bars used in a live trade become a history bar each time the bar completes. The bar is live and then it is instantly a history bar.

Once I get the results I want, I convert the indie to an EA which can be manual or automatic - depending.

Regards,

KingHigh
  • #1,835
  • Jun 12, 2011 4:54pm Jun 12, 2011 4:54pm
Quoting ES Trader
I don't want to touch Ccfp v2.

I was just wondering whether an indicator can be created or an EA that will show the movement of entire Basket. If the indicator can be then used to time the exit. May be this indicator can ,say, below certain level would have less chance of making additional pips.

Not sure whether I am making much sense

I agree with FH totally. I do not want to mess with v2 ccfp .It is an excellent indi for entry.
Hi ES

When you say "movement of entire Basket", do you mean the sum of the current trades PnL in real time? You have that in your terminal but you would like to visualize in a chart form or in a subwindow below the main chart area, basically Equity and balance?

Earlier you mentioned something about integrating the weekly, daily and h4 suggestions to yield a list of suggestion common to these three timeframes. Is that an accurate discription?

Pat
  • #1,836
  • Jun 12, 2011 4:55pm Jun 12, 2011 4:55pm
Quoting KingHigh
ES,

I am a programmer and have written several indicators that track basket trading strategies. What I do is convert all of the currencies to US dollars and display dollars and not pips in the indie. That is the easy part -- beyond that I have been monitoring this thread from the beginning and have been studying how to dynamically displaying basket possibilities so that it would be easy select the buy and sell pairs with your mouse and track them visually. My personal goal was to create a back testing system, so that a trader could practice...
KingHigh.
Glad you are here. All help are welcome. Please let us know how you can make this system even better.

Thanks
  • #1,837
  • Jun 12, 2011 4:57pm Jun 12, 2011 4:57pm
Quoting Pat1
Hi ES

When you say "movement of entire Basket", do you mean the sum of the current trades PnL in real time? You have that in your terminal but you would like to visualize in a chart form or in a subwindow below the main chart area, basically Equity and balance?

Earlier you mentioned something about integrating the weekly, daily and h4 suggestions to yield a list of suggestion common to these three timeframes. Is that an accurate discription?

Pat
Yes Pat. You nailed it right on the head. Exactly what I am looking for.
  • #1,838
  • Jun 12, 2011 5:09pm Jun 12, 2011 5:09pm
Here is my Sunday night basket. I am not proud of it since it's all Buys but it is what it is.

Attached Image
Always a Student, Never a Master - Emulate What Works
  • #1,839
  • Jun 12, 2011 5:17pm Jun 12, 2011 5:17pm
I just realized the week does not open until 7pm cst. I still have another 1.45 hr before i create my basket.
  • #1,840
  • Jun 12, 2011 5:19pm Jun 12, 2011 5:19pm
On my chart it opens at 6:00 PM EST.
Always a Student, Never a Master - Emulate What Works
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