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T101 Basket Trader with ONE of Nanningbob's Balls

  • #121
  • Sep 10, 2011 8:13am Sep 10, 2011 8:13am
not exactly sure what you mean

so you have the basket chart, with this basket ea, but you only want to trade one pair of the basket, or some other completely different pair (like gold)

if it's the first, there is already that option available, just exclude the currencies you don't want in the basket (using F3 or the script already provided)

if it's the second, why can't you open an order manually?, what link does this other pair have back to the basket chart??

regards, john

Quoting dryclean
John I am sure (maybe) you have thought to make an option in the bot to trade just 1 pair .. I know Kos has had success trading EU and EG I currently trade Gold Silver with the Kos method (HAS) doing well there too
  • #122
  • Sep 10, 2011 8:37am Sep 10, 2011 8:37am
What I meant was not basket trading....but using all of the functions of the EA for a single pair

NB detection Pending orders limit orders visual TP and SL

Could turn off 13 pairs

easier to have trade this pair(chart) only setting

But that is another day
Sorry for the confusion
  • #123
  • Sep 10, 2011 8:50am Sep 10, 2011 8:50am
ah ok, i thought i was missing some important part

but some of the features that i am developing for this robot such as the trade logic engine and so on could be used on a single trader, ie the ability to have a one stop bot that can run any strategy

in the end that is what this bot will have, ability to run any strategy the user wants, to make then for single pair would in fact make the bot simpler and remove a lot of the complicated basket logic

but as you say - that is for another day, let's get this one working first

Quoting dryclean
What I meant was not basket trading....but using all of the functions of the EA for a single pair

NB detection Pending orders limit orders visual TP and SL

Could turn off 13 pairs

easier to have trade this pair(chart) only setting

But that is another day
Sorry for the confusion
  • #124
  • Sep 10, 2011 9:54am Sep 10, 2011 9:54am
I Agree!!!!
  • #125
  • Edited 5:57pm Sep 10, 2011 5:44pm | Edited 5:57pm
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  • #126
  • Edited 11:30pm Sep 10, 2011 11:07pm | Edited 11:30pm
Quoting jmw1970
....... should explain which of the 4 currencies in the 8 carry more weight in the T101 basket and how the crosses are of importance

so far from my understand they are USD,EUR,GBP & JPY but i may have misunderstood something
Okay, look at the pairs that are being traded:

The yen pairs:
GBP JPY
EUR JPY
CHF JPY
NZD JPY
AUD JPY
USD JPY
the usd pairs:

EUR USD
GPB USD
AUD USD
NZD USD
USD CHF (buy)

NOW THE LEFTOVERS
EUR GBP
EUR CHF
GBP CHF

now, let's assume we have SOLD every one, EXCEPT USCHF. NOW, assuming the basket will be in PROFIT, Which Currencies are strongest? The currencies in the SECOND POSITION these are:

6 yen pairs

NOW what are the WEAK CURRENCIES

2 GBP
2 EUR
2 CHF (this is including the USD CHF as a BUY

Now, It's 6 against 6 This means that it's the Yen against the European Currencies.

Now the USD is also in the SECOND POSITION against the EUR and GBP so the USD adds to the possible profit.

If you have a currency index, or meter, you could say that if the JPY and USD is strong, the GBP and EUR will be weak. So if, on this meter, the JPY and USD cross some sort of threshold, the profit of the basket should move accordingly. You would also want a weak CHF with a sell basket

This is personally, my decision maker.

NOW, the usdjpy and eurgbp, are kind of wild cards. There is no telling which way they may go. If losers, they should be cut loose fairly early.

If the EA could eventually be linked to some sort of currency index, it might be a good decision point for the EA.

Shake
  • #127
  • Sep 11, 2011 1:29am Sep 11, 2011 1:29am
In my view the whole purpose of the hedge is to minimize DD.

I can understand that traders want to max their profits, but this is definitely the more riskier route.

The hedged pairs are there to minimize the DD.
In the event that your basket goes against you then you are at least covered by 2 or 3 pairs.I look at the hedged pairs as a buffer.

The profit factor is less, but it is by far the safer route to trade.
  • #128
  • Sep 11, 2011 5:14am Sep 11, 2011 5:14am
Quoting Gvc
In my view the whole purpose of the hedge is to minimize DD.

I can understand that traders want to max their profits, but this is definitely the more riskier route.

The hedged pairs are there to minimize the DD.
In the event that your basket goes against you then you are at least covered by 2 or 3 pairs.I look at the hedged pairs as a buffer.

The profit factor is less, but it is by far the safer route to trade.
Very well said GVC, this is exactly the way I see it also. We've all been through the attempts at currency strength indicators and bots that use them to trade but in the end, this simple little basket (whether it's the 8 pair or 14 pair) has stood the test of time and brought constant pips - perticularly since the evolution of the offline charts which have spawed some rather nice systems from yourself, Kos and others.
  • #129
  • Sep 11, 2011 7:59am Sep 11, 2011 7:59am
My 2c or 2p worth (maybe even less as my knowledge of how this works is limited at best)

The goal of this bot is to create a bot that can basket trade in one of 3 modes

manual - so all the bot does is trail,take profit,stop loss, hedge trades
semi-auto - the bot can open & manage trades based on the operator putting in a market read (previously referred to as NB 10.0 Basis)
auto - the bot does everything

if someone chooses to go the semi-auto or auto route with this bot, then I have created the ability to use trade logic engines (TLE) (NOTE: even in manual mode a TLE may still be used, it just wont send the commands to open/close trades, for instance it could just send alerts)

these are "plug-ins" for the bot that have the singular purpose of deciding whether to open/close a trade or not

this was done as everyone a) has different opinions of what is important for basket trading, b) has a different risk aversion appetite, c) uses different timeframes for trading

therefore while one TLE maybe suitable for one person, it might not for another.

hopefully we can build a library of TLE's then people can choose the one that appeals to their style of trading

all the TLE's are designed so that anyone with a basic knowledge of MQL4 can create a TLE from the default provided

so for now while it is important to think of different trading logic that can be used, that is not the main goal of the thread at this moment

the current goal of the thread is to get the bot with TLE's working - then the thread can turn it's attention away from the bot and more to the creation of TLE's

NB. All the final code for the bot has now been completed - this includes hedging, full range of pending orders & TLE's. Unfortunately it is the weekend so I cannot give the bot a final test run, this will be done during the day Monday therefore hopefully the bot will be uploaded Monday evening CET.

currently a basic draft version of a user guide is being written for the bot and for the TLE's - though I imagine that this will take a while to get a finalized version.

Regards, John
  • #130
  • Sep 11, 2011 10:42am Sep 11, 2011 10:42am
This is more than I could have imagined John; great thinking - undoubtedly a lot of time and effort on your part. I think you understanding of this goes well beyond c or p

If we can apply different trading logics to the bot besides the NB V10 this is fantastic! (though the NB system can be very promising) First on my wish-list would be Kos's system as it was the real breakthrough for myself and many others that gave us an easy way to be successful with this strategy.

I'll be slow on my feet with testing over the next few days as my main demo pc fell victim to a flood overnight - 30 cm of water throughout the main floor of my house while I was out and unable to return. Can't really complain though, this is a first in my 16 years in Thailand a country prone to flooding......
  • #131
  • Sep 11, 2011 4:29pm Sep 11, 2011 4:29pm
Please advise what is the indicator and what the script is the first post.
thank you
  • #132
  • Sep 11, 2011 4:50pm Sep 11, 2011 4:50pm
if you are unaware of what the indicator is in the first post, then unfortunately you are in the wrong thread.

I would suggest that you look at one of the many T101 threads on FF, these will explain what the indicator is used for.

Once you have that knowledge, you can come back here to see how the script and ea and so on all fit in.

Regards, John

Quoting kgblock
Please advise what is the indicator and what the script is the first post.
thank you
  • #133
  • Sep 11, 2011 5:12pm Sep 11, 2011 5:12pm
Quoting jmw1970
if you are unaware of what the indicator is in the first post, then unfortunately you are in the wrong thread.

I would suggest that you look at one of the many T101 threads on FF, these will explain what the indicator is used for.

Once you have that knowledge, you can come back here to see how the script and ea and so on all fit in.

Regards, John
T101 Basket Trader.mq4 - EA


There are many systems designed using the script somewhere, sometimes by the indicator.
Sorry my bad English. I just wanted to know for sure, because to me it does not work.
On this forum I have always understood everything.. So far I have not had problems using MT4
3 years. But anyway thank you and thank you very much for your advice. May God bless you.
  • #134
  • Sep 11, 2011 5:20pm Sep 11, 2011 5:20pm
now I am confused

what can you not get to work, the indicator or the EA

as you have highlighted in your last post the EA, I will make the assumption that you are having problems with the EA

but what problems exactly - "it does not work" is not very descriptive, for instance did any error messages appear, what appeared in the journals tab etc.etc.etc.

unless you can be more descriptive about what is not working for you, then no one will be able to help

regards, john

Quoting kgblock
T101 Basket Trader.mq4 - ist EA

There are many systems designed using the script somewhere, sometimes by the indicator.
Sorry my bad English. I just wanted to know for sure, because to me it does not work.
While I am all for this forum to understand.. So far I have not had problems using MT4
3 years. But anyway thank you and thank you very much for your advice. May God bless you.
  • #135
  • Sep 11, 2011 5:28pm Sep 11, 2011 5:28pm
Quoting jmw1970
now I am confused

what can you not get to work, the indicator or the EA

as you have highlighted in your last post the EA, I will make the assumption that you are having problems with the EA

but what problems exactly - "it does not work" is not very descriptive, for instance did any error messages appear, what appeared in the journals tab etc.etc.etc.

unless you can be more descriptive about what is not working for you, then no one will be able to help

regards, john
This EA can ONLY be run on the T101 offline chart, EA is stopping!

indicator is running on offline chart.
Maybe I misunderstood instructions.
  • #136
  • Sep 11, 2011 5:52pm Sep 11, 2011 5:52pm
is your offline chart called ##T101##

the offline chart has to be called this

if yes, attach a picture, you are the first to have any such problem



Quoting kgblock
This EA can ONLY be run on the T101 offline chart, EA is stopping!

indicator is running on offline chart.
Maybe I misunderstood instructions.
  • #137
  • Sep 11, 2011 5:59pm Sep 11, 2011 5:59pm
Quoting jmw1970
is your offline chart called ##T101##

the offline chart has to be called this

if yes, attach a picture, you are the first to have any such problem
offline chart is not called # # # # T101
But I do not know why. Where we make mistakes?
I know that for my mistake, maybe I'm stupid, but help me.
  • #138
  • Sep 11, 2011 6:07pm Sep 11, 2011 6:07pm
2 solutions

1) which indicator did you use to create the offline chart, if you used the one I provided on this thread then it will come up with the correct name by default

on the indicator it has the parm "Currency" - ensure this is ##T101##

2nd solution

in the EA near the top look for the statement

#define OfflineChart "##T101##"

then change that to be the correct name

problem with solution 2 is that you will need to change on every release

best is to use the same as everyone else, and take solution 1



Quoting kgblock
offline chart is not called # # # # T101
But I do not know why. Where we make mistakes?
I know that for my mistake, maybe I'm stupid, but help me.
  • #139
  • Sep 12, 2011 2:40am Sep 12, 2011 2:40am
Quoting kgblock
offline chart is not called # # # # T101
But I do not know why. Where we make mistakes?
I know that for my mistake, maybe I'm stupid, but help me.
If I understand your problem correctly....

Put the t101_pricehistory_**** into your custom indicators folder. Compile it. Then put this indicator onto the chart your require (i.e. 15 min chart) this will give you a little green symbol in the bottom right hand corner.

Next go to File_ open Offline chart you should see ##T101###, m15 listed. Double click this chart. This should get you to where you want to be.
  • #140
  • Sep 12, 2011 2:57am Sep 12, 2011 2:57am
Quoting sundog
If I understand your problem correctly....

Put the t101_pricehistory_**** into your custom indicators folder. Compile it. Then put this indicator onto the chart your require (i.e. 15 min chart) this will give you a little green symbol in the bottom right hand corner.

Next go to File_ open Offline chart you should see ##T101###, m15 listed. Double click this chart. This should get you to where you want to be.
And put the T101 Basket Trader EA on the ##T101###,m15 offline chart you just opened.
BTW you have to wait a moment when you open the offline charts to give time to collect the offline data.

good luck
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