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Strength for one week, No Charts Attached ;)

  • #21
  • Aug 9, 2011 5:56am Aug 9, 2011 5:56am
Quoting indranghimir
When you say close half of your loosing positions do you mean -say you have 20 open postions and say at the end of the day you have 10 winners and 10 losers, you close 5 of the losers? and how do you chose the loseres, the biggest 5 of those?
thanks
No,

If your loosing positions are -$800, you close largest negative positions until you get -$400.

If your largest negative position is -$400, you only need to close this one position.
  • #22
  • Aug 9, 2011 6:03am Aug 9, 2011 6:03am
Quoting BaliuxXx
No,

If your loosing positions are -$800, you close largest negative positions until you get -$400.

If your largest negative position is -$400, you only need to close this one position.
That's correct!
  • #23
  • Aug 9, 2011 6:09am Aug 9, 2011 6:09am
Quoting BaliuxXx
knowing what and how this calculator calculates, it could be easy to develop a software to backtest this.

It's possible to parse numbers from html, but you cannot automatically send start and end dates to calculator here. The only one opportunity is to create a robot, which enters dates itself and gets the % numbers.

Don't have much free time for this Maybe later

Donatas
Would be great to know how this would have performed in the past...

Don't know how to backtest multiple currencies at once, but if you have an idea that's great!

They have a description on the page with the calculator of how it works, there should be a way to come up with the right calculations.

I have seen different kind of relative strength indicators on this forum before so maybe you could use one of these for testing purposes.

Great to see more people are interested in the idea.
  • #24
  • Aug 9, 2011 6:19am Aug 9, 2011 6:19am
interesante

thanks
  • #25
  • Aug 9, 2011 6:37am Aug 9, 2011 6:37am
wow , many pips in london session
  • #26
  • Aug 9, 2011 6:49am Aug 9, 2011 6:49am
According to the info on the page with the strength calculator, it works like this: "What this free software does is it compares growth of 1 major forex currency against growth of each of other 7 major currencies. Then the software gets 7 separate values, and averages it out."

So the percentages displayed as result are the average percentage a currency gained or lost against the other major currencies.
  • #27
  • Aug 9, 2011 6:58am Aug 9, 2011 6:58am
AUDCHF is the strongest pair I've traded today.
  • #28
  • Aug 9, 2011 6:59am Aug 9, 2011 6:59am
Quoting FBForex
According to the info on the page with the strength calculator, it works like this: "What this free software does is it compares growth of 1 major forex currency against growth of each of other 7 major currencies. Then the software gets 7 separate values, and averages it out."

So the percentages displayed as result are the average percentage a currency gained or lost against the other major currencies.
Don't make any sense I need an example of atleast one currency.
i.e. USD
2011.05.30 EUR/USD started week with 1.4318
2011.08.05 closed 1.4281

2011.05.30 GBP/USD started with 1.6494
2011.08.05 closed 1.6388
and etc..

so, where these % are?

Donatas
  • #29
  • Aug 9, 2011 7:46am Aug 9, 2011 7:46am
This indicator may help
Attached File(s)
File Type: mq4 CM5-METER.mq4   25 KB | 637 downloads
  • #30
  • Aug 9, 2011 7:56am Aug 9, 2011 7:56am
Quoting toddanderson
This indicator may help
Thank you toddanderson. I assume this goes into the indicator folder?
How does this indicator work?
  • #31
  • Aug 9, 2011 8:02am Aug 9, 2011 8:02am
Quoting BaliuxXx
Don't make any sense I need an example of atleast one currency.
i.e. USD
2011.05.30 EUR/USD started week with 1.4318
2011.08.05 closed 1.4281

2011.05.30 GBP/USD started with 1.6494
2011.08.05 closed 1.6388
and etc..

so, where these % are?

Donatas
I think you calculate the percentages the following way:
EUR/USD 1.4318 = 100%
EUR/USD 1.4281 = (100*1.4281)/1.4318 = 99,74%
So change for EUR/USD = 99,74-100 = -0.26%

Same method for all other major USD pairs and then calculate the average.
e.a. -0.26 + 0.16 - 0.2 + 0.16 = -0.14 => -0.14 / 5 = -0.028% change on average.

Above percentages are just random numbers to make the example clear.

Hope this helps
  • #32
  • Aug 9, 2011 8:07am Aug 9, 2011 8:07am
Quoting FBForex
I think you calculate the percentages the following way:
EUR/USD 1.4318 = 100%
EUR/USD 1.4281 = (100*1.4281)/1.4318 = 99,74%
So change for EUR/USD = 99,74-100 = -0.26%

Same method for all other major USD pairs and then calculate the average.
e.a. -0.26 + 0.16 - 0.2 + 0.16 = -0.14 => -0.14 / 5 = -0.028% change on average.

Above percentages are just random numbers to make the example clear.

Hope this helps
thanks, FB
  • #33
  • Aug 9, 2011 8:15am Aug 9, 2011 8:15am
Yes it goes in the indicator folder it calculates using MA, RSI


Quoting FBForex
Thank you toddanderson. I assume this goes into the indicator folder?
How does this indicator work?
  • #34
  • Aug 9, 2011 8:21am Aug 9, 2011 8:21am
Quoting toddanderson
Yes it goes in the indicator folder it calculates using MA, RSI
How does it compare the different currencies? Does it calculate the strenght between currencies? What period does it use?

It seems to me the indicator doesn't calculate strength the way the "strength calculator" does.

FB
  • #35
  • Aug 9, 2011 9:22am Aug 9, 2011 9:22am
Hi again,

Beautifull name, "Strength for one week, No Charts Attached".....

What about creating a new club, FWC, Forex Without Charts, amazing.

Ok, I have found on this thread:

http://www.forexfactory.com/showthread.php?t=300750

an indicator that could be similar to what we are looking for. On the top left it shows each currency with a strength value. The display shows you the difference between the last two CLOSED candles, depending the TF where the indicator is attached.

I have just started to read the thread so maybe later I find a better indicator for that.

For now, demo is going extremely well, 1.050.-$ up, best trade: short GBP/CHF 240 pips, worst trade: long GBP/AUD -143 pips.

Will close half loss at 20h00.

Thank you
Attached File(s)
File Type: mq4 CCFp_v1.0.2cvert.mq4   25 KB | 442 downloads
  • #36
  • Aug 9, 2011 9:35am Aug 9, 2011 9:35am
sign me up for that club, we can develop a "new" way of trading.

one that is easier on the eyes, no chart and indicators, and easy on the soul, since its very low maintenance. only checking the account 6 times a week and since its mechanical no stress or emotions

will follow this closely
  • #37
  • Aug 9, 2011 9:45am Aug 9, 2011 9:45am
hey Mates!

for those who have an iphone/ipad there are a very good app in the appstore called fx currency strength. http://itunes.apple.com/us/app/fx-cu...377801992?mt=8

cheers!
passion and discipline
  • #38
  • Aug 9, 2011 9:46am Aug 9, 2011 9:46am
Quoting Caillou
Hi again,

Beautifull name, "Strength for one week, No Charts Attached".....

What about creating a new club, FWC, Forex Without Charts, amazing.

For now, demo is going extremely well, 1.050.-$ up, best trade: short GBP/CHF 240 pips, worst trade: long GBP/AUD -143 pips.

Will close half loss at 20h00.

Thank you
Thanks for the info and indicator! Will look into it...
Downsize is: Will need a chart to put indicator on

Funny your GBP/AUD trade opened today is at a 143 pips loss... My GBP/AUD trade opened yesterday is at 168 pips profit

Seems that entering on monday morning makes a great difference!

Interesting to see how this develops...

Sure hope this method of trading will work out! But don't expect wonders because the holy grail is still to be found...

Maybe this way of trading, if done properly, can be profitable.
  • #39
  • Aug 9, 2011 9:50am Aug 9, 2011 9:50am
Maybe this is crazy, but what if you reversed the losers instead of closing (half) of them?

Any thoughts?
  • #40
  • Aug 9, 2011 9:56am Aug 9, 2011 9:56am
Quoting FBForex
Thanks for the info and indicator! Will look into it...
Downsize is: Will need a chart to put indicator on

Funny your GBP/AUD trade opened today is at a 143 pips loss... My GBP/AUD trade opened yesterday is at 168 pips profit

Seems that entering on monday morning makes a great difference!

Interesting to see how this develops...

Sure hope this method of trading will work out! But don't expect wonders because the holy grail is still to be found...

Maybe this way of trading, if done properly, can be profitable.
Sure, not all days will be like today but hey, for now it works, tomorrow, who knows......
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