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Trading system using relative strength

  • #1,901
  • Jun 14, 2011 8:13am Jun 14, 2011 8:13am
Looking at your stuff but it is only 9:13 Am EST. No news yet, so you may be an hour off...
  • #1,902
  • Jun 14, 2011 8:23am Jun 14, 2011 8:23am
Quoting cocoth
Today's basket based on histo only
GMT +0
Basket was considered between pairs matching from D1 & H4 :
GBP/JPY - BUY
GBP/CHF - BUY
AUD/JPY - BUY
AUD/NZD - BUY
AUD/CHF - BUY
GBP/NZD - BUY
Thanks cocoth for posting this earlier. I wasn't at my home computer so couldn't check the histo.... but noticed that you had posted this, so opened the demo and bought those pairs...... checked six hours later... up over 200 pips.....

How did you do on them....

Bruce
  • #1,903
  • Jun 14, 2011 8:53am Jun 14, 2011 8:53am
Quoting brucech
Thanks cocoth for posting this earlier. I wasn't at my home computer so couldn't check the histo.... but noticed that you had posted this, so opened the demo and bought those pairs...... checked six hours later... up over 200 pips.....

How did you do on them....

Bruce
Hi Bruce,
I had to go away this morning, so I took the profit the market gave me just before leaving home. I should have left it going as the trades were going to the right direction, but I am trading on live with a big account, then I don't like to be away when the trades are rolling.... but still made 74 pips, I made my day !
  • #1,904
  • Jun 14, 2011 9:00am Jun 14, 2011 9:00am
Quoting forexhard
I have a philosophical question. It's not directed at any one person. It's for anyone who wants to answer:

Q: When you go to your charts, do you expect to see possible trades, or do you wonder if there will be possible trades waiting for you?

My answer: I am a wonder if type of trader. Because I feel if I expect to see trades then I will start over trading with bad trades that I created from my desires, rather than from the raw data.

What at abut you guys?
Good question. I expect to see trades and feel disappointed when there aren't any. I wonder if I should change to wonder. I expect it won't be easy.
  • #1,905
  • Jun 14, 2011 9:01am Jun 14, 2011 9:01am
Quoting RobinHood
I don't have one set way of doing it as of yet. I look at the 4Hr, D1 and W1.

At times I'll take just what the D1 says, other times I'll take what D1 says PLUS other trades on the histogram, and a couple of times I used just the histogram as FH suggested.

The thing I don't like about using the suggestions is that it can get in periods where it constantly changes trades. Considering the spread, that can get expensive, plus it's very annoying.

So I am really still in the research phase of all this for now as you can see. If I find one...
I have posted my trades setup above. It might be nice to see the difference between different people.

Do you also consider the GMT time, or do you take position every hour ?
  • #1,906
  • Jun 14, 2011 9:04am Jun 14, 2011 9:04am
Quoting gilab
There was news at 9:30 am EST and I entered five minutes before that. The news wasn't "red," but it seemed to send the market flying.
Good Job.

But the question is...

If this was real money, would you have initiated 7 new trades 5 minutes before news came out?

Probably not, which is one more way that demo trading is VERY different from "live" trading. When there is no real money involved it's easy to be bold.

Demo-ing is fine but people are always far better off trading real money even at the smallest level possible because then it makes you trade more realistically and carefully.

Imagine you have to give a speech.

Practicing in alone in front of a mirror is one thing. There's no real embarrassment involved when you mess up.

But if you practice the speech in front of even 1 or 2 people, you are much more careful because you don't want to look stupid.

It's the exact same thing with demo trading and live trading...even at the smallest level.
Always a Student, Never a Master - Emulate What Works
  • #1,907
  • Jun 14, 2011 12:07pm Jun 14, 2011 12:07pm
  •  sym
  • Joined Apr 2011 | Status: Working... (too much) :) | 356 Posts
Quoting ES Trader
Hi Sym,

I like your template. I like the way everything is arranged neatly.
Is there anyway you can put that template here.
thanks
Here I am,
my little contribution to this thread.

Have a nice day guys :-)
Attached File(s)
File Type: tpl complete_ccfp.tpl   167 KB | 1,227 downloads
--- nothing to say ---
  • #1,908
  • Jun 14, 2011 12:16pm Jun 14, 2011 12:16pm
Quoting RobinHood
Good Job.

But the question is...

If this was real money, would you have initiated 7 new trades 5 minutes before news came out?

Probably not, which is one more way that demo trading is VERY different from "live" trading. When there is no real money involved it's easy to be bold.

Demo-ing is fine but people are always far better off trading real money even at the smallest level possible because then it makes you trade more realistically and carefully.

Imagine you have to give a speech.

Practicing in alone in front of a mirror...
If it was real money, I would have FIRST checked to see if there was news. I hadn't even done that. If there was news coming, I definitely would not have initiated any trades.

With demo, I can be completely experimental. I know that it's not the same with real money. I have traded other markets with real money, all the way back to the days before pc's when I charted by hand. The way I look at it, if you're not profitable in demo, you won't be profitable when you add in the stress of real money. Then once you're consistently profitably in demo, trade a small amount of real money. Once you're consistently profitable with real money, scale up slowly.

That said, I'm going to open a live account. The last brokerage I tried couldn't read my identification documents, which are not in an easily readable language. I'll try somewhere else.
  • #1,909
  • Jun 14, 2011 1:55pm Jun 14, 2011 1:55pm
Quoting sym
Here I am,
my little contribution to this thread.

Have a nice day guys :-)
Thanks Sym
  • #1,910
  • Jun 14, 2011 2:08pm Jun 14, 2011 2:08pm
Quoting sym
Here I am,
my little contribution to this thread.

Have a nice day guys :-)
Sym,

Thank you very much!
I am going to analyse it.
I live in the same timezone (gmt+2) like you.
  • #1,911
  • Jun 14, 2011 3:20pm Jun 14, 2011 3:20pm
Quoting cocoth
I would like to share my setup to everyone. It was working well last week, but let's see how it will perform this week :

GMT +0 :
- Check D1 Current & H4 Current
- Trade the matching pairs

GMT +4 & 8 :
- Check H4 (Level 2 only)

Enter basket only with a min of 4 pairs

(for the running pairs, S/L, T/P, B/E, etc.... see threat above)
I do the similar way. But it seems to me that 4h is not so helpful in many times. It seems current 1D histogram is enough. Is it just me or what?

I was expecting I could do some scalping with this indi as well, but even 1H is so useless. I guess the logic of indi has to do with it, only guessing though.
A successful trading depends on knowing what to analyze.
  • #1,912
  • Jun 14, 2011 3:59pm Jun 14, 2011 3:59pm
Quoting Pipdealer
I do the similar way. But it seems to me that 4h is not so helpful in many times. It seems current 1D histogram is enough. Is it just me or what?

I was expecting I could do some scalping with this indi as well, but even 1H is so useless. I guess the logic of indi has to do with it, only guessing though.
i am doing the same testing on time entry and which chart to look at. I am in GMT 0. I will post my findings next week after i finished my experiment this week. So far, D1 at 01:00 GMT, H4 at 08:00 GMT works. But the exit time varies because when i see profit i take. So, i do not know how far the profit or losses will go. At the moment, the maximum DD for D1 in the morning (8-9 GMT) entry was -400 pips in 1st hour....then turn back to +83 when i closed it.
  • #1,913
  • Jun 14, 2011 4:58pm Jun 14, 2011 4:58pm
Cocoth is using this setup

GMT +0 :
- Check D1 Current & H4 Current
- Trade the matching pairs

GMT +4 & 8 :
- Check H4 (Level 2 only)
- Enter basket only with a min of 4 pairs

%Risk for the basket : 3%
%Risk per pair : 0.5%
Stop Loss : 100 pips
Take Profit : 200 pips
B/E : 30 pips
B/E profit : 4 pips
Trailing stop activate : 30 pips
Trailing stop : 30 pips
Trailing stop step : 1 pip

What EA are you guys using to control the basket? What are your settings? Has anyone tried something like a 1.2.6 recovery for pairs that move against you? I've done a couple baskets but nothing works. Thanks.
  • #1,914
  • Jun 14, 2011 6:56pm Jun 14, 2011 6:56pm
Quoting Minnelli
Cocoth is using this setup

GMT +0 :
- Check D1 Current & H4 Current
- Trade the matching pairs

GMT +4 & 8 :
- Check H4 (Level 2 only)
- Enter basket only with a min of 4 pairs

%Risk for the basket : 3%
%Risk per pair : 0.5%
Stop Loss : 100 pips
Take Profit : 200 pips
B/E : 30 pips
B/E profit : 4 pips
Trailing stop activate : 30 pips
Trailing stop : 30 pips
Trailing stop step : 1 pip

What EA are you guys using to control the basket? What are your settings? Has anyone tried something like a 1.2.6 recovery for pairs that move...
You can find this kind of EA on the commercial market. They are very helpful to help the current trades.

Regarding my settings, they have been all posted already
  • #1,915
  • Jun 14, 2011 7:10pm Jun 14, 2011 7:10pm
Today's basket (GMT +0) :

- GBP/JPY / B
- AUD/JPY / B
- AUD/NZD / B
- GBP/NZD / B

Good day !
  • #1,916
  • Jun 14, 2011 7:28pm Jun 14, 2011 7:28pm
That's strange, mine are all sells:

AUDCHF / Sell
AUDJPY / Sell
CADCHF / Sell
CADJPY / Sell
NZDJPY / Sell
Always a Student, Never a Master - Emulate What Works
  • #1,917
  • Jun 14, 2011 7:34pm Jun 14, 2011 7:34pm
Quoting RobinHood
That's strange, mine are all sells:

AUDCHF / Sell
AUDJPY / Sell
CADCHF / Sell
CADJPY / Sell
NZDJPY / Sell
Yes, this is very strange. Can anyone else mention what their indi is dislaying to compare ?
  • #1,918
  • Jun 14, 2011 7:40pm Jun 14, 2011 7:40pm
240 Current
Use Bar instead of MA : False

1440 Current
Use Bar instead of MA : False

10080 Current
Use Bar instead of MA : True

To choose my pairs, I am only using the Histo (not the given list)
Attached Image
  • #1,919
  • Jun 14, 2011 7:54pm Jun 14, 2011 7:54pm
My D1 current is different. Could it be broker time? My D1 bar ends in 20 hours and it is 9:00pm EST. 04:00 FXDD Demo. The real time is 8:55 but I rounded.

Compare D1s - 24244452 to 12142572
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.657.jpg Size: 99 KB
  • #1,920
  • Jun 14, 2011 8:02pm Jun 14, 2011 8:02pm
Quoting cocoth
240 Current
Use Bar instead of MA : False

1440 Current
Use Bar instead of MA : False

10080 Current
Use Bar instead of MA : True

To choose my pairs, I am only using the Histo (not the given list)
Dear Cocoth,

Can u please help me to send this type of template which mention current and past histogram.

Thanks in advance.

Umesh Patel
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