Tarrini: another Basket multi-trader by SteveHopwood

SERIOUS WARNING

 

1. Most Forex traders lose all their money.
2. Using the robot posted here in trading Forex does not guarantee success.
3. Trading this robot could lead to serious financial loss, and probably will.
4. Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
5. This is not a set-and-forget ea; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention.
6. At best, a trading robot is only 90% as good as the manual strategy it trades. At best. At worst, it can be much less effective. If the strategy is rubbish, so is the robot.
7. To trade this robot, you have to understand basket trading:

DO NOT USE THIS EA ON LIVE ACCOUNTS


Recently, I received this in an email from tarrini65:

"Hi steve

I hope you can code this one. I have been trading this profiatbly for 2 months .

- chose a currency as a pivot ( example usd )
- sell it 3 times and buy it three times
buy aud usd
buy nzd usd
buy eur usd
buy usd chf
buy usd jpy
sell gbp usd

- same lot size; i use equity / 10000
- basket profit; i use lot size x 100

It follows the concept of the dollar index, and it never goes too much in dd.

.......

i bet that you can code a similar one.


thanks for checking "

tarrini wants this sharing at FF to see if others can help improve the strategy. I coded the EA on Friday and it did quite well. Watch the EquityDivisor input; this has an extra digit on tarrini's quoted value to make it trade the entire basket on my Alpari UK EA development demo.

This is a novel approach to basket trading to me, but I have no idea if it actually has legs or not. Have a play guys, and see what you think. The more experienced amongst you can already see how to build up different 'pivot baskets'.


Note to newbies or anyone unfamiliar with 'basket' trading
The concept that lies behind basket trading is this: the fate of an individual trade within a group of linked trade is unimportant. All that matters is the fate of the entire group of trades. Each trade has no tp or sl; these are applied only to the entire basket.

Having said that, basket stop losses always cause the system to fail. Work out for yourselves why, and you will already have taken a huge leap of understanding of the train-wreck represented by Forex trading.

In conclusion
I have no idea if this ea has a future. All we can do is test it and see.



Useful utilities/EA's/scripts

 

1. MaryJane has posted a fabulous utility to allow us to resize EA input windows: http://www.forexfactory.com/showthread.php?t=299017
2. Multi purpose trade manager: http://www.forexfactory.com/showthread.php?t=89371
3. Account equity analyser: http://www.forexfactory.com/showthre...16#post4693716 Also at http://www.forexfactory.com/showthre...98#post4709098, which includes a template for both USD and the Euro.
4. Past-trades display indi by squalou; shows a graphical display of the success/failure of trades in your History tab. Breathtaking piece of work. http://www.forexfactory.com/showthre...10#post3830610

Most promising trading EA's

 

1. BigBob: an implementation of Nanningbog#b V10. http://www.forexfactory.com/showthread.php?t=309980
2. Trendy: http://www.forexfactory.com/showthre...82#post4840182, but should be left behind by BigBob.
3. Reversi: http://www.forexfactory.com/showthread.php?t=294255 – I am trading this live.
4. Rip: http://www.forexfactory.com/showthre...98#post4777998
5. The Beast: http://www.forexfactory.com/showthre...=1#post4135863
6. Pippo: http://www.forexfactory.com/showthre...96#post4675196
7. Ibuks: http://www.forexfactory.com/showthre...88#post4656888
8. FTLR: http://www.forexfactory.com/showthre...85#post3831885

I will check this one on my demo... Thank You very much, Steve..

Looks like another barn burner Steve....Headed home now to get it on demo and sweep up the Fun-O-Meter

Have a great week

whip

o dear.

This will only ever make a profit as long as gold rises as you are buying AUDUSD and NZDUSD, these are commodity pairs.

Just look at the price of Gold over the past 18 months.

We shall see. The theory is great, in accordance with balanced trading etc, but we both know what Forex does to theories. Especially when it is feeling peckish.

Is there anything specific that triggers an entry?

you also earn from swap.....

Oh yes. I hadn't noticed this.

Nice.

Just wait and see what happens when the price of gold plummets. So will your account as using the same lot size for each pair makes it unbalanced. That is also what is contributing to your current profits.

Yes. Whips chickens develop rudimentary intelligence and form a cluck-translation committee. Happens about once a fortnight.

It was not an unreasonable question.

It was a spectacularly dim question of the kind that makes me restrict most of the threads I start to those with something intelligent to offer, so I do not have to put up with idiotic questions like yours.

Fun though this is, I suggest you stop now or I will bar you from further posting in any of my threads. The choice is yours.

FAO all recent-comers to FF/my threads.

Take serious note of scooby-doo's posts. scoobs is a (retired) professional trader whose advice has been invaluable to those of us who have been around for a while.

Unlike most of the rest of us, scoobs knows what he is talking about.

I didnt mean to be harsh regarding this idea but look at the gold chart. This is why the idea has made money.

in this case we used usd as a pivot, but we can make the same opposite basket selling the aussie's , or having euro or yen as pivot , let's see....

Be as harsh as you please. This is my thread and you can say what you want in my threads.

So, when Gold plunges, will the other trades in the basket not offset this?

A nice approach for the lot size of multi currency baskets is here:

http://www.forexfactory.com/showthread.php?t=262827

7bit invented a nice connector from MT4 to "R" (math/statistic programm).

cheers
osthafen

Hi Scoobs,
Let me be the Devil's Advocate here please and ask how you would balance 5 up and 1 down and round up the spreads on a USD pivot.......

Steve the bot took right off...very nice

whip

Pure fluke. Your chickens just happened to have developed their rudimentary intelligence and gotten around to forming that translation committee.

Don't expect this to happen every day.

You currently make money because...

1. Gold is UP
2. Positive Swaps
3. Basked is unbalanced

If the basket was properly balanced then you would be flat minus spread etc.

Now, what you going todo if....

1. Gold goes down
2. Broker changes the positive swaps to negative

It wont work the same with say using the YEN as the pivot as all the pairs are seconday, so which ones you going to BUY and which ones you going to SELL. They are not worth the same so you would need to balance the pairs using different lotsizes. Again, you then end up flat minus the spread etc.

Like everything in FX you need a trade trigger. And that is the hardest part.

And as for using the EUR as a pivot, I wouldnt wipe my arse with the EURO let alone try and trade a basket full of those pairs anytime soon.

Scoobs.