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Trading system using relative strength

  • #1,861
  • Jun 12, 2011 9:37pm Jun 12, 2011 9:37pm
Quoting RobinHood
One thing that I don't agree with FH at this point is where he said to try to have an equal number of buys and sells.

Like on Friday, the indicator had all sells (a LOT of them) except for 2 buys (that I remember), and they all won.

And right now I have 13 buys and 1 sell and they are ALL winning, every one of them.

HOWEVER, he may be right because he has been doing baskets a lot longer than me and has way more experience with trading them. I just haven't seen it matter yet.
Hey RH, the operative phrase is "to try to". It was never a hard rule, and I'm pretty sure I used words to that effect. What I was trying to make a point of (which I know I said very clearly since ES just quoted me in the last hour or so), is to pay supreme attention to the histogram, and the upper suggestions, not so much. Now you guys are beginning to see why I said this -- because like I also said, none of what I was saying early on would make sense, really, until you had a couple of dozen baskets under your belts. Now you guys have some personal experience to relate to, and now some of my earlier "rules" (<-- notice the "quotation marks") are beginning to make sense. Great. Now the playing field is becomming more and more level -- for all of us. We only can help each other when we speak the same language.

If I had one wish it would be this: That no one would be using the suggestions at all for the rest of the week. Just turn them off and forget they exist, and create your own baskets from the histograms alone. There is more that I would wish for, but we have to take this a step at a time.

Who's with me? Anyone willing to try this out for the rest of the week? Please speak up so we know how it is. And also please make regular progress reports too, even if they suck. We all need to hear the good and the bad so we can tweak the system to it's strongest point in the market.

Good trading everyone!
To improve is to change. To perfect, is to change often.
  • #1,862
  • Jun 12, 2011 9:48pm Jun 12, 2011 9:48pm
Quoting forexhard
Hey RH, the operative phrase is "to try to". It was never a hard rule, and I'm pretty sure I used words to that effect. What I was trying to make a point of (which I know I said very clearly since ES just quoted me in the last hour or so), is to pay supreme attention to the histogram, and the upper suggestions, not so much. Now you guys are beginning to see why I said this -- because like I also said, none of what I was saying early on would make sense, really, until you had a couple of dozen baskets under your belts. Now you...
I intend to.
I have also started making some single trades using your template. So far i closed sell nzdjpy with positive pips. Now i am short nzd chf, Again just using histogram.
  • #1,863
  • Jun 12, 2011 10:06pm Jun 12, 2011 10:06pm
Hallo ES. Sorry for my english. Very interesting thread I have one idea for you. I study a very similar method - Power oscillatory correlation. In this method is very important balance of volatility and $ value. Maybe it helps to achieve better results.

Example:
- the value of the USD / JPY is around 8029 points. That is $ 6,423 per minilots. 1% movement represents 64 $.
- the value of GBP / USD is around 16,238 points. It's $ 16,238 per minilots. 1% movement represents $ 162.

For a balanced, you need to buy 2.5 lots of USD / JPY but only 1 lot GBP / USD.

I have a few custom macros (EA):
- Quickly open several different contract (for each basket is different comments and Magic Number)
- Dollar Trailing-stop and Stop-loss for the basket (for several different baskets at one time)
- Equity for the opening basket.

It's help for you?
  • #1,864
  • Jun 12, 2011 10:45pm Jun 12, 2011 10:45pm
Quoting Algoritmus
Hallo ES. Sorry for my english. Very interesting thread I have one idea for you. I study a very similar method - Power oscillatory correlation. In this method is very important balance of volatility and $ value. Maybe it helps to achieve better results.

Example:
- the value of the USD / JPY is around 8029 points. That is $ 6,423 per minilots. 1% movement represents 64 $.
- the value of GBP / USD is around 16,238 points. It's $ 16,238 per minilots. 1% movement represents $ 162.

For a balanced, you need to buy 2.5 lots of USD / JPY but...
sure. why not. will accept if you are sharing with everyone here.
Thanks
  • #1,865
  • Jun 12, 2011 11:08pm Jun 12, 2011 11:08pm
I closed my basket +335 pips. The Bottom two trades are not part of the basket.

All The Best
Il Brigante
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  • #1,866
  • Jun 12, 2011 11:19pm Jun 12, 2011 11:19pm
Opened a new basket.
  • #1,867
  • Jun 12, 2011 11:23pm Jun 12, 2011 11:23pm
Sorry, here is the pic.
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  • #1,868
  • Jun 12, 2011 11:37pm Jun 12, 2011 11:37pm
ES,

I've notice that long ago regarding equal buy/sell and All buy/sell. Now i am testing H4 and D1 with when to entry have the best results. I did couple of entry base on D1 at GMT 1. Some leave for more than 4 hrs and some in an hour. Thats is quite profitable, however i will test other time too.

FH,

I am on the test. I will make a record of all my trade without using the suggestions and the time i enter and exit.
  • #1,869
  • Jun 13, 2011 2:42am Jun 13, 2011 2:42am
Quoting forexhard
Hey RH, the operative phrase is "to try to". It was never a hard rule, and I'm pretty sure I used words to that effect. What I was trying to make a point of (which I know I said very clearly since ES just quoted me in the last hour or so), is to pay supreme attention to the histogram, and the upper suggestions, not so much. Now you guys are beginning to see why I said this -- because like I also said, none of what I was saying early on would make sense, really, until you had a couple of dozen baskets under your belts. Now you...
Yes, I agree to play the game !
will report my results
  • #1,870
  • Jun 13, 2011 3:17am Jun 13, 2011 3:17am
Basket Closed -202 pips
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  • #1,871
  • Jun 13, 2011 3:33am Jun 13, 2011 3:33am
Quoting il brigante
Hi Chantalb

I am very interested to know in more details how you trade, if you do not mind.

All the Best
Il Brigante
It would be my pleasure… however, in order not to clog up the thread with off topic subjects that some tend to get irritated over, kindly send me your email by pm and I’ll gladly correspond. Unless of course ES and FH don’t mind me explaining it here…
Best regards,
Chantal
  • #1,872
  • Jun 13, 2011 4:41am Jun 13, 2011 4:41am
The trading week starts with the Sunday candle considered as a day. To me Sunday candles are not weighed heavily unless there is big reason to take them into account. Therefore, until I get a full day’s worth of trading including all price information required of such a day, I tend to go with the previous’ complete trading day’s data/bias i.e. Friday… So Tuesdays for me would make more sense adding Sundays and Mondays as one. I think this would avoid having all buys or all sells on the indicators on Mondays since what it is really showing us is directly related to the small Sunday bar.
Regards,
Chantal
PS: I am talking strictly D1 ccfp time frame on Mondays...
  • #1,873
  • Jun 13, 2011 4:44am Jun 13, 2011 4:44am
ES, Forexhard,

I have finished reading the whole thread and can't wait to demo. Although I still can't figure out the screeshots put up by Forexhard I followed his instruction to choose my own basket and put it to test. I must say I am impressed by the number of pips generated. I believe we cannot be spoonfed and there is a need for us to learn by making our own observations, make our own decisions and study the results. However Forexhard must have accumulated a lot of skills and knowledge through his many years of experience and I hope he would continue to share some of his insights to guide us to speed up our learning, especially in the area of interpretation of the histograms.
Thank you to all who have contributed from the beginning especially ES and Forexhard who are still here to continue the thread.

chrisngch
  • #1,874
  • Jun 13, 2011 5:05am Jun 13, 2011 5:05am
Hi ALL. I have read the entire thread and love what I see J
I would like to thank ES Trader for starting this thread and others who have contributed in a positive way
I am wanting to create trading baskets but have a slight problem
I have downloaded and saved templates to my platform (ibfx) but when I place a template on my chart nothing happens. Am I supposed to download indicators to go with the templates?
The template I am most interested in is CCFP_daily stack. The charts I have with this template have the same information now as they did 10 hours ago L
I have Forexhard suggestions on how to trade this template but am unable to at this stage
Some assistance please J
While I am in an asking mood can anyone advise me of an EA that will look after my basket once I have created it so I can go about my business and know my account hasn’t been blown out if the tide decides to go against me
MY settings are 100 pip stop loss. BE at 50 pips. Trail stop loss 50 pips
Thanks once again to ALL who have made this thread a success J
Attached Image (click to enlarge)
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  • #1,875
  • Jun 13, 2011 6:08am Jun 13, 2011 6:08am
[quote=hinemihi1;4686151][size=3][font=Calibri]
[font=Calibri][size=3]I have downloaded and saved templates to my platform (ibfx) but when I place a template on my chart nothing happens. Am I supposed to download indicators to go with the templates?



yes you need this indicator
Attached File(s)
File Type: ex4 CCFp-Diff_[v2.0].ex4   96 KB | 1,032 downloads
  • #1,876
  • Jun 13, 2011 6:26am Jun 13, 2011 6:26am
I placed the indie on my chart and this is the result :'(
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  • #1,877
  • Jun 13, 2011 6:29am Jun 13, 2011 6:29am
hi guys,,this is my first post here just to say hello to everyone. Gone thru the whole thread.. my special thanks to ES, FH and many other contributors.. you guys helped a noobie like me a lot..

with many bank holidays and short day candle today, maybe not a good day to trade.. anyway here goes my ongoing trade after 30 minutes....all exclusively based on D1 current histograms .. nice going into the green zone with +60 pips so far.. i set TP at 20 pips each with no SL.. see how it goes,,,
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  • #1,878
  • Edited 3:26pm Jun 13, 2011 6:49am | Edited 3:26pm
I've place my basket in the morning before i go to work (GMT 9), at the moment i do not have the screen print and i will update it later when i get back home. My experience was, i placed 14 trades all BUY at 0.01 lot. First hours, total -£10, 2nd Hr -£20, 3rd hr -£25, 4th Hr -£8, 5th Hr +£5. Where i closed all positions after 5 hrs.

So, i think there are a drawdown of -£25 of my account at one point then it bounced back to Positive. I am following the daily Current Bar when i entered at 9am GMT.

Other experience from my friend, he placed basket too based on Current 4hr bars and Half BUY Half SELL signals. Within 2 hrs, +£8 then he closed it.

As my experience, Longer time frame comfirmation will have to hold the basket for longer. Shorter timeframe should hold it shorter. But the thing i wonder is how far the time limit can go (Basically for exit point). Do we need to hold a basket for 8hrs, 24hrs, 36hrs....etc. also constantly checking it is Positive or Negetive then closed it accordingly.

I think an EA of trailing stops to lock the profit or to BE will greatly help for the exit strategy.

Will keep my history post here. Good luck guys.
Attached Image
  • #1,879
  • Jun 13, 2011 12:34pm Jun 13, 2011 12:34pm
  •  sym
  • Joined Apr 2011 | Status: Working... (too much) :) | 356 Posts
Hi to everybody

this is my last basket from previous week, plus 3 trades made few minutes ago.
I open at random hours, not waiting for a 4h closing bar.
Closed basket at +110 pips.

Have a nice day
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--- nothing to say ---
  • #1,880
  • Jun 13, 2011 12:49pm Jun 13, 2011 12:49pm
Here's an idea I had today but I'm at work and haven't had a chance to test yet. What if we chose pairs based on 2 or 3 higher tf's but with the opposite signal on a lower tf, possibly showing a pullback in progress.
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