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Strength for one week, No Charts Attached ;)

  • #121
  • Aug 10, 2011 1:43pm Aug 10, 2011 1:43pm
Hey, for some reason I cannot wrap my mind around the sequencing to placing all the orders required in BUY/SELL fashion.

Do you look at each % on the calculator...?

For example (using indreks approach)

He traded last night based on previous 10 days range. here is what I got:


CHF7.35% Sell any available currency that is competing vs CHF?
USD2.65% Sell
GBP2.18% Sell
JPY1.13% Sell
EUR0.90% Buy
CAD-1.85% Buy
NZD-5.11% Buy
AUD-5.93% Buy

So what do you do? Do you start from the Top and Sell any pair that has CHF as the base pair (GBP/CHF, USD/CHF etc...?)

So what do you do when you get to the NEG currencies? Do you Buy any pair that has CAD, NZD or AUD as the base pair?

Also, indreks largest single pair profit was on AUD/JPY (Selling it) But seeing as how CHF & AUD were the polar opposites, wouldn't that have been the one to run the farthest? In fact on the chart of AUDCHF it dropped from Midnight on the 8th over 540 pips to the low @ 2100 on the 9th. WOW...so should we looking for the 2 polar opposites to trade?

Alot of questions I know,
  • #122
  • Aug 10, 2011 1:45pm Aug 10, 2011 1:45pm
Woww.. thanks a lot FB ... a really great idea

one question.... have you tried reverse trading the weakest currency?
Let say the weakest now is AUD so we Sell AUDUSD , Buy EURAUD etc.
Lets make some green pips
  • #123
  • Aug 10, 2011 2:03pm Aug 10, 2011 2:03pm
Update, just closed NZD/USD position and EUR/NZD position in order to close half open negative position.

Attached current open trades, still large open profit.
Attached Image (click to enlarge)
Click to Enlarge Name: Mt4.jpg Size: 171 KB
  • #124
  • Aug 10, 2011 2:05pm Aug 10, 2011 2:05pm
Quoting 4rx
Woww.. thanks a lot FB ... a really great idea

one question.... have you tried reverse trading the weakest currency?
Let say the weakest now is AUD so we Sell AUDUSD , Buy EURAUD etc.
That's exactly what we do...

If you work your way down from strongest to weakest currency you will end up with buying the strongest pair, buying and selling the pairs in the middle and selling the weakest pair.

Thank you for your compliments
  • #125
  • Aug 10, 2011 2:15pm Aug 10, 2011 2:15pm
FB, first of all thanks for sharing this system. Got a few questions

For example the Current Strength is like

CHF3.65 %
NZD0.5 %
CAD0.12 %
AUD0.09 %
EUR-0.17 %
JPY-0.51 %
USD-1.73 %
GBP-1.76 %

CHF is mst trendy, so I BUY CHF against every other currency. Now to the second highest tending currency i.e. NZD, as I understand, NZD should be bought against EVERY other currency as well. That means I will have a trade BUY CHF/NZD and also a SELL CHF/NZD ??? Correct???

Secondly, What to do with the -ive trending currencies? e.g. EUR? Should it be sold against every other currency?
If it floats, flies, or f%^ks, rent it, it's cheaper.
  • #126
  • Aug 10, 2011 2:17pm Aug 10, 2011 2:17pm
Quoting zznbrm
Yes, backtesting manually is always doable, although probably a lot of work.

This would be much easier to test programmatically - a simple script should do the trick!

Attached is updated spreadsheet (bug fix) and a MT4 script for currency strength calculation based upon pct change.

Also, it is interesting that so many folks are trying to change a system that they have not proven to be unprofitable.

There are lots of different ways to calculate pct change...I guess the point is to pick one and stick with it.
Thank you for your positive input! Really appreciated!
Really comes down to sticking with a method.....

So what do you do? Do you start from the Top and Sell any pair that has CHF as the base pair (GBP/CHF, USD/CHF etc...?)

So what do you do when you get to the NEG currencies? Do you Buy any pair that has CAD, NZD or AUD as the base pair?

Quote
Also, indreks largest single pair profit was on AUD/JPY (Selling it) But seeing as how CHF & AUD were the polar opposites, wouldn't that have been the one to run the farthest? In fact on the chart of AUDCHF it dropped from Midnight on the 8th over 540 pips to the low @ 2100 on the 9th. WOW...so should we looking for the 2 polar opposites to trade?

Look on my previous post, it answers your first question I think...

Second, you have to understand that strength calculations are based on historic price movement, they might indicate direction of strength / trend in the following week but as you noticed correctly the market changes all the time. This is one of the reasons I started to trade all combinations of pairs because you can't predict what pair will give you the most profit.

You also might want to look a few pages back in this thread, there I explain how to open the trades according to the strength calculator.

Good luck!
  • #127
  • Aug 10, 2011 2:20pm Aug 10, 2011 2:20pm
Quoting n000b
FB, first of all thanks for sharing this system. Got a few questions

For example the Current Strength is like

CHF3.65 %
NZD0.5 %
CAD0.12 %
AUD0.09 %
EUR-0.17 %
JPY-0.51 %
USD-1.73 %
GBP-1.76 %

CHF is mst trendy, so I BUY CHF against every other currency. Now to the second highest tending currency i.e. NZD, as I understand, NZD should be bought against EVERY other currency as well. That means I will have a trade BUY CHF/NZD and also a SELL CHF/NZD ??? Correct???

Secondly, What to do with the -ive trending currencies? e.g....
No, not correct. You should buy CHF against every other currency, but NZD against every other currency EXCEPT CHF. You only open one position on every pair.

Work your way down from top to bottom, so in the end you will open a position of selling the GBP/USD pair because you will buy USD against GBP.

If you follow this procedure you would have sold GBP against every other pair.
  • #128
  • Edited 3:07pm Aug 10, 2011 2:27pm | Edited 3:07pm
Quoting pilotui

So what do you do? Do you start from the Top and Sell any pair that has CHF as the base pair (GBP/CHF, USD/CHF etc...?)

So what do you do when you get to the NEG currencies? Do you Buy any pair that has CAD, NZD or AUD as the base pair?
Buy stronger against weaker - nothing complicated. If one is -0,1 and other is -0,2 then buy first against second, etc.

Quoting pilotui

Also, indreks largest single pair profit was on AUD/JPY (Selling it) But seeing as how CHF & AUD were the polar opposites, wouldn't that have been the one to run the farthest? In fact on the chart of AUDCHF it dropped from Midnight on the 8th over 540 pips to the low @ 2100 on the 9th. WOW...so should we looking for the 2 polar opposites to trade?

Alot of questions I know,
Well, to my mind everything is very logical. We never know to what direction and with what power any pair will move. Because the calculations that we have describe only the past.

BTW: I opened a new basket, including only 15 pairs. I skip all that have unreasonable spread, i.e do not include NZD and CAD any more. And I used strength for 5, 10, 20 days, divided by 3.
  • #129
  • Aug 10, 2011 4:14pm Aug 10, 2011 4:14pm
FBForex, your method here has all the makings of a great system. I just saw this, from the most famous trend trader ever, Ed Seykota. Here is his system, stated succinctly, in song form:
Inserted Video
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  • #130
  • Aug 10, 2011 4:37pm Aug 10, 2011 4:37pm
So I went with the past 10 days

So AUD is -5.84
So CHF is +11.25

Since CHF is stronger, AUD/CHF will go down...So SELL AUD/CHF?

Is that right?

What about this one

So EUR is +.74
So JPY is +.63

Since EUR is stronger, EUR/JPY will go up...So BUY EUR/JPY?

And this one

So EUR is +.74
So USD is +.90

Since USD is stronger, EUR/USD will go down...So Sell EUR/USD?

Any help/comments would be great!
  • #131
  • Aug 10, 2011 4:48pm Aug 10, 2011 4:48pm
all 3 are correct,

have a very simple script where you enter the values and it puts whether buy or sell

idea is later to automatically have the script open the orders

but havent got round to it



Quoting pilotui
So I went with the past 10 days

So AUD is -5.84
So CHF is +11.25

Since CHF is stronger, AUD/CHF will go down...So SELL AUD/CHF?

Is that right?

What about this one

So EUR is +.74
So JPY is +.63

Since EUR is stronger, EUR/JPY will go up...So BUY EUR/JPY?

And this one

So EUR is +.74
So USD is +.90

Since USD is stronger, EUR/USD will go down...So Sell EUR/USD?

Any help/comments would be great!
Attached File(s)
File Type: mq4 !Strength Trader.mq4   5 KB | 497 downloads
  • #132
  • Aug 10, 2011 5:05pm Aug 10, 2011 5:05pm
Quoting jmw1970
all 3 are correct,

have a very simple script where you enter the values and it puts whether buy or sell

idea is later to automatically have the script open the orders

but havent got round to it
Wow, thats a cool idea. I just did up this spread sheet.

I refer to ALPHA as the first currency in a pair and BETA as the 2nd Currency

How does this look? These are based on last 10 days FYI
Attached Image (click to enlarge)
Click to Enlarge Name: 11 AUG trade plan.jpg Size: 185 KB
  • #133
  • Aug 10, 2011 5:13pm Aug 10, 2011 5:13pm
yep, your spread sheet does the same as my script

will work on my script some more so that it actually opens up the trades, probably with a button

then I'll post the finalised version, the version previously posted was just my first attempt
  • #134
  • Aug 10, 2011 5:28pm Aug 10, 2011 5:28pm
18 winners and 4 losers as of right now which are barely negative. Threw in some orders this afternoon using the 10 day just to see and ended up profiting well (demo of course). Going to close trades near the end of each day and reset for the next days trades. I think you may be on to something!
  • #135
  • Aug 10, 2011 5:48pm Aug 10, 2011 5:48pm
okay

here is a new script, you might need to add/remove to the pairs list

note: if you have suffixes it shouldnt matter

just put in the values from the peace army site into the appropriate input, set lot size and slippage in points

it will then re-show your inputs as well as it's suggestions

it will also have 2 "buttons" one is "Place Trades" the other "Cancel"

to "Press" a button - select it and drag it somewhere

if you choose to place trades a confirmation message box will appear that you need to press yes on

Seems to work ok, although not much in the way of error checking

NOTE: THIS IS A SCRIPT!!!
Attached Image (click to enlarge)
Click to Enlarge Name: strengthtrader.gif Size: 10 KB
Attached File(s)
File Type: mq4 !Strength Trader.mq4   8 KB | 579 downloads
  • #136
  • Aug 10, 2011 5:50pm Aug 10, 2011 5:50pm
Ok I opened 15 trades, took out NZD and CAD also for the spread.

So now just keep them open until LONDON open? Then close 1/2 of the losers?

Thanks!
  • #137
  • Aug 10, 2011 5:53pm Aug 10, 2011 5:53pm
FBforex, firstly thanks to a novel approach, I placed all trades in Demo yesterday to find !15K profit this morning, have you thought instead of closing the losing trades each day that you close the all the trades each day if in profit - this locks in profit then re-open all the same trades.

Anyway thanks for sharing
  • #138
  • Aug 10, 2011 6:05pm Aug 10, 2011 6:05pm
that's what I am going to do, just tested out my new script, it opened 23 trades (maybe I am missing some in my list??)

so now off to bed and see what it looks like in the morning

then I will close off the biggest losers, then during the UK lunchtime (just before NY open) I will close out the next biggest losers

rest then I'll keep until ny close


Quoting pilotui
Ok I opened 15 trades, took out NZD and CAD also for the spread.

So now just keep them open until LONDON open? Then close 1/2 of the losers?

Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-08-11_0106.png Size: 86 KB
  • #139
  • Aug 10, 2011 6:08pm Aug 10, 2011 6:08pm
Quoting FBForex
That's exactly what we do..........................

Thank you for your compliments
Oo ok.. we will be trading all the 28 pairs...awesome


Anybody own a script that can help me to close all trades instantly without having to open any chart?

Thanks
Lets make some green pips
  • #140
  • Aug 10, 2011 6:10pm Aug 10, 2011 6:10pm
it's impossible to run a script without opening a chart

scripts, ea's and indicators all require at least one chart

Quoting 4rx
Oo ok.. we will be trading all the 28 pairs...awesome


Anybody own a script that can help me to close all trades instantly without having to open any chart?

Thanks
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