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Strength for one week, No Charts Attached ;)

  • #81
  • Aug 10, 2011 2:09am Aug 10, 2011 2:09am
Maybe somebody knows broker with all 28 pairs?

Donatas
  • #82
  • Aug 10, 2011 2:13am Aug 10, 2011 2:13am
Quoting FBForex
Reason for opening trades on all pairs is that you simply won't know in advance what pairs will have the strongest movement.

Sure, USD is the most liquid pair but last week for instance the biggest profit came from AUD/CHF, this week the biggest winner seems te be GBP/CHF.

The edge at the start of the week is that we know what strength of each pair was at that time relative to other pairs. If it works out to be the same the following week that is great, we would have all winners, if it doesn't work out exactly like that there still is a good...
Great points, thanks for sharing this and your views on why you trade it like you do.

I will try your way next Monday. Good Trading to you
  • #83
  • Aug 10, 2011 3:03am Aug 10, 2011 3:03am
Quoting Indrek
Hello everybody,

I think the idea of this thread is really very interesting and promising.
I have not tested nor backtested the system but here are some ideas that came to my mind while reading:
1. This system is built on the assumption that strong currencies become stronger during the new week and weaker become weaker. To my mind it is safer to compare the current strength of every currency with its strength one week ago and to trade accordingly. Then we trade to the direction of strength change, which sounds more logical.
2. Trading so many...
Hi Indrek,

Glad to see you here. Referring to point 4, my intention is to continue using FB´s calculator from ForexPeaceArmy website but, if after a while, this system is still profitable and one day you wake up and ForexPeaceArmy is no longer available, then....what ? Stop trading?

I´m just trying to find an indicator completely independent to always be available.....
  • #84
  • Aug 10, 2011 3:41am Aug 10, 2011 3:41am
Quoting Caillou
Hi Indrek,

Glad to see you here. Referring to point 4, my intention is to continue using FB´s calculator from ForexPeaceArmy website but, if after a while, this system is still profitable and one day you wake up and ForexPeaceArmy is no longer available, then....what ? Stop trading?

I´m just trying to find an indicator completely independent to always be available.....
Interesting method to dig deeper.Just what you guys think about to use kind of adaptivity to volatility. Because I think it is dangerous to trade same lot size for all pairs as volatility can be very diferent.It could be a problem in a long term and special in bad times. Even if we trade small lot sizes it is important for long term sucses.
So for me it makes sence to trade smaller lot size for more volatile pairs and vise versa for not so volatile ones.
  • #85
  • Aug 10, 2011 4:40am Aug 10, 2011 4:40am
Quoting Caillou
Hi,

I have put the indicator on a Weekly chart with these settings:

- TimeFrame: 0
- StrenghtBase: 60 (60 weeks)
- RecentCHBase: 10 (10 weeks)

RecentCHBase shows me a similar list to "ForexPeaceArmy" Calculator but yesterday, StrenghtBase histogram had for me the better results.......

Early days.....
Thanks to Caillou and to the-game for help with the settings.
  • #86
  • Aug 10, 2011 6:53am Aug 10, 2011 6:53am
hey FB, on your screenshots on first page I noticed that your pairs were stacked with losers on top and winners on bottom. how do you get them arranged like that. or maybe someone else could answer that for me. I've tried to do it but cant seem to figure it out. it makes it so much easier to see which ones to cut back on when thier stacked like that. thanks,

James
  • #87
  • Aug 10, 2011 6:56am Aug 10, 2011 6:56am
Quoting jph5560
hey FB, on your screenshots on first page I noticed that your pairs were stacked with losers on top and winners on bottom. how do you get them arranged like that. or maybe someone else could answer that for me. I've tried to do it but cant seem to figure it out. it makes it so much easier to see which ones to cut back on when thier stacked like that. thanks,

James
doesn't it sort by clicking the column header?
  • #88
  • Aug 10, 2011 7:13am Aug 10, 2011 7:13am
He takes profit at the end of the week by closing all positions (letting his winners run until then) and he does not use a fixed stop loss, but rather closes half of his losers, beginning with the biggest one first (if I understand it correctly). His method is in the very first post.

Quoting goldfinger
You can't have trading stratgey without MM IMO. As far as I know most of the great traders are trend traders, this is a trend trading stratgey. It looks good. I would like to know how you know when to take profit and where or how many pips away your stoploss point is.
Many thanks
  • #89
  • Aug 10, 2011 7:14am Aug 10, 2011 7:14am
Quoting BaliuxXx
doesn't it sort by clicking the column header?
Yes it does, just click on the column header and it will sort them.
  • #90
  • Aug 10, 2011 7:18am Aug 10, 2011 7:18am
Quoting BaliuxXx
Maybe somebody knows broker with all 28 pairs?

Donatas
I believe Oanda does, but not sure. Check it out and see. They do also allow trading with tiny units, plus automatic compounding. I usually just set 5% on all my trading and allow auto-compounding to kick in.
  • #91
  • Aug 10, 2011 7:30am Aug 10, 2011 7:30am
got it. OK thanks guys. will be watching this closely. i will make my adjustments to the pairs at 5 PM EST. thats the start of new day for me.
James
  • #92
  • Aug 10, 2011 7:49am Aug 10, 2011 7:49am
So,how we must trade at the next monday morning???
With Piecy Army or with Strength Meter???Who can explain me please?
  • #93
  • Aug 10, 2011 8:23am Aug 10, 2011 8:23am
Hi,

For now, my demo is going like this. Account up 31.85% (since Tuesday), max DD... I don´t remember, I think only initial spread, 26 trades, 11 in loss (2 closed), 15 in profit.

These results are with ForexPeaceArmy Calculator, using StrenghMeter indicator, I would have:

- Using 10 weeks: 26 trades, 9 in loss, 17 in profit.
- Using 60 weeks: 26 trades, 4 in loss, 22 in profit (yes, only 4 in loss).

Early days, but amazing results.
  • #94
  • Aug 10, 2011 8:30am Aug 10, 2011 8:30am
I'm going to begin on Sunday evening (EST) instead of Monday morning (CET) because I'm on the East Coast. I'm going to use the Peace Army's meter for now.

Quoting aldaped
So,how we must trade at the next monday morning???
With Piecy Army or with Strength Meter???Who can explain me please?
  • #95
  • Aug 10, 2011 9:01am Aug 10, 2011 9:01am
I wonder what the effect would be of using the 10 week values for the analysis but only taking trades if the 1 week confirms

Will try this out in demo next week, I will report my results

The only problem with multi-currency basket strategies is that it is almost impossible to back test
  • #96
  • Aug 10, 2011 9:28am Aug 10, 2011 9:28am
Quoting jmw1970
I wonder what the effect would be of using the 10 week values for the analysis but only taking trades if the 1 week confirms

Will try this out in demo next week, I will report my results

The only problem with multi-currency basket strategies is that it is almost impossible to back test
I discovered this thread late last night.
I like your idea. After all 10 weeks is quite a lagging indicator.
Also what if the chf crosses that have been giving lots of pips were not trending. I think that needs to be checked as to how the rest of the basket was doing. Although one pair can influence others.
Some concern about no SL but will keep an open mind.
And yes... what if Forex Army decides to stop using their calculator. There should be some way to reverse engineer it. Otherwise this is trading using a Black Box.
  • #97
  • Aug 10, 2011 9:31am Aug 10, 2011 9:31am
Quoting Caillou
Hi,

For now, my demo is going like this. Account up 31.85% (since Tuesday), max DD... I don´t remember, I think only initial spread, 26 trades, 11 in loss (2 closed), 15 in profit.

These results are with ForexPeaceArmy Calculator, using StrenghMeter indicator, I would have:

- Using 10 weeks: 26 trades, 9 in loss, 17 in profit.
- Using 60 weeks: 26 trades, 4 in loss, 22 in profit (yes, only 4 in loss).

Early days, but amazing results.
Hello!Can you give me the settings of StrenghMeter indicator???
And how you will use it?
  • #98
  • Aug 10, 2011 9:58am Aug 10, 2011 9:58am
Quoting Lou
I discovered this thread late last night.
I like your idea. After all 10 weeks is quite a lagging indicator.
Also what if the chf crosses that have been giving lots of pips were not trending. I think that needs to be checked as to how the rest of the basket was doing. Although one pair can influence others.
Some concern about no SL but will keep an open mind.
And yes... what if Forex Army decides to stop using their calculator. There should be some way to reverse engineer it. Otherwise this is trading using a Black Box.
Hi Lou, welcome to this thread (and others I may not have welcomed yet in this thread).

The reason why I started using this with only a 10 week period strength calculation is because it seems a relevant time period compared with one week of trading.

I have seen lots of systems which use multiple periods to confirm the readings but I honestly think that you can get as much confirmations as you would like for past price information but you still won't be able to predict price movement in the week to come.

Let me put this another way. For instance, how sure are you that, when for the last 10 weeks EUR was stronger then USD and you know that in the last week of that 10 week period strength was also in favor of EUR this will be the same in the following week? Some might argue that because it was moving in line with strength last week surely it will be a corrective move next week.

On the other hand one might argue that because last week wasn't in line with strength of the past 10 weeks, chances are greater that next week will be inline with strength....

Point I'm trying to make is: No one can predict the future.

All we are trying to do with this method is trade every pair in line with general strength as we assume that the larger moves will be in line with that strength and not against it.

Hope you understand my explanation... Otherwise I might need to explain it in another way...
  • #99
  • Aug 10, 2011 10:42am Aug 10, 2011 10:42am
Hi FBForex,
Thanks for a well reasoned thread.

A thought on Losing Positions:
As presumably they are corrections against the principal trend, and so may well be in Over Bought/Sold territory now, what about adding to these positions?

My most successful trading is "Scaling in" and works well with small lots. How often do we see prices immediately reverse back through stops for impressive returns.
  • #100
  • Aug 10, 2011 11:18am Aug 10, 2011 11:18am
Quoting aldaped
Hello!Can you give me the settings of StrenghMeter indicator???
And how you will use it?

Hi,

Default settings on a weekly chart: left histogram for 60 weeks, right histogram for 10 weeks......
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