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Basket Trading EA

  • #3,741
  • Apr 18, 2014 7:55am Apr 18, 2014 7:55am
Hi all,
may I discuss my approach to find a strategy that defeats the forex beast...?
Did you ever experimentate with the "strenght-tool"??? I will give it a try- but not as suggested....:
In the "S-Total-C" area this tool shows the strongest and weakest 5 pairs from 28 having collected most of the points of calculation regarding all timeframes, right? But what does this mean? It shows the pairs which are at the top of their rallye up or down. They run best in all timeframes, even 5 and 15 minutes... But that isn`t the point where a smart trader enters a trade, right? Never jump on a running train! This rallye can be interrupted once the trader has jumped in.... So why not looking for pairs which have a certain strenght, logically, but are in a short retracement before taking their rallye up again?
This will save a lot of SL-pips !!! SL may be set much more tight...
To practise this, I will also open the individuell charts of the choosen pairs to confirm the indicators numbers and to decide by brain, if it might be only a retrace or even a change of the direction. I think this may be a save approach to this EA knowing its a bit more work to do. But using the bigger TFs its ok.
Your thoughts are welcome.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Strenght-approach1.jpg Size: 424 KB
Click to Enlarge Name: Strenght-approach2.GBPCAD.jpg Size: 168 KB
Click to Enlarge Name: Strenght-approach3.USDCAD.jpg Size: 170 KB
Click to Enlarge Name: Buy Trade Opened 4-18---14-10.gif Size: 34 KB
Have a nice day
  • #3,742
  • Apr 18, 2014 9:12am Apr 18, 2014 9:12am
Quoting doerpn
Hi all, may I discuss my approach to find a strategy that defeats the forex beast...? Did you ever experimentate with the "strenght-tool"??? I will give it a try- but not as suggested....: In the "S-Total-C" area this tool shows the strongest and weakest 5 pairs from 28 having collected most of the points of calculation regarding all timeframes, right? But what does this mean? It shows the pairs which are at the top of their rallye up or down. They run best in all timeframes, even 5 and 15 minutes... But that isn`t the point where a smart trader...
There are several ways to approach this tool. From my personal experience:

1) When choosing only m5-m30 strenght you can try to wait for a retracement and then jump in continuation. There is a high probability short-term strenght will persist for at least some time.
2) Very often, 5-6 of first Strenght pairs will almost entirely consist of one currency that's pulling it. Increasing the number of pairs from, let's say 5-6 to 8-10 can get you a better diversification.
3)All the diversified Strenght baskets will break down to a choppy mess at some point, they are not a long-term instrument.
4)The flexibility of strenght, creator and trading EAs give you a lot of room to experiment, you create different offline charts with different number of pairs inside them, based on different strenght timeframes, using different timeframes very fast. and observe the results.

It's a huge field for experiment, in short
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  • #3,743
  • Apr 18, 2014 9:43am Apr 18, 2014 9:43am
Quoting Das Ist Gut
{quote} There are several ways to approach this tool. From my personal experience: 1) When choosing only m5-m30 strenght you can try to wait for a retracement and then jump in continuation. There is a high probability short-term strenght will persist for at least some time.
Same must be valid for higher TFs more than ever as higher timeframes have lower noise...

Quote
2) Very often, 5-6 of first Strenght pairs will almost entirely consist of one currency that's pulling it. Increasing the number of pairs from, let's say 5-6 to 8-10 can get you a better diversification.

That`s what should be improved by not taking always the first x-pairs from strenght-list. You are right, the more pairs- the more diversification...provided that they fit the entry conditions!

Quote
3)All the diversified Strenght baskets will break down to a choppy mess at some point, they are not a long-term instrument.

That`s true for the lower TFs for sure...but in H4, daily and weekly TF they should survive much more longer...

Quote
4)The flexibility of strenght, creator and trading EAs give you a lot of room to experiment, you create different offline charts with different number of pairs inside them, based on different strenght timeframes, using different timeframes very fast. and observe the results. It's a huge field for experiment, in short
Yes, yes, yes...you are damned right....
Thanks for your input.
Have a nice day
  • #3,744
  • Apr 18, 2014 12:00pm Apr 18, 2014 12:00pm
Quoting doerpn
{quote} I created a 2 pairs basket with the same pair....works fine ! {image}
I ve just tested this and it does not work sorry, what you have on your chart is one trade taken by EA and it is simple duplicated twice but on the terminal it is one trade. Check and see if this is not the case. The purpose of this EA is for basket trading. refer back to page one please.
Look to the LEFT of your CHART.....
  • #3,745
  • Apr 18, 2014 12:48pm Apr 18, 2014 12:48pm
Quoting doerpn
{quote} You are right, on the chart it is simply duplicated twice and on the terminal it is one trade. That is what some people here whish to do: Trading single pairs. I only tried to help them by using this "trick". The only thing the trader has to do is dividing the amounts shown on the chart by 2..........or looking into his terminal. I know the purpose of this wonderful EA , but thanks again for this hint.
what are you doing is not the purpose of this EA. Single pair trading was stopped with this latest version so as to focus it on basket trading only. What you are doing does not help anyone on here really unless you are not interested in basket trading which is what this thread is about. It is a distraction and I am sure there are many forums out there for single pair trading if thats what you are looking for.
Look to the LEFT of your CHART.....
  • #3,746
  • Apr 18, 2014 4:15pm Apr 18, 2014 4:15pm
Basket_Writer_v2 has been published on the first page and a video on how to use it can be found at the YouTube link on the first page, its a short one so be sure you look at it.

I haven't had time to test it as I just finished it and the market is closed so let me know if it will be better than version 1.

As can be seen below, nothing is moving and the market is closed

Attached Image
  • #3,747
  • Apr 18, 2014 7:08pm Apr 18, 2014 7:08pm
Quoting mikeimas
{quote} what are you doing is not the purpose of this EA. Single pair trading was stopped with this latest version so as to focus it on basket trading only. What you are doing does not help anyone on here really unless you are not interested in basket trading which is what this thread is about. It is a distraction and I am sure there are many forums out there for single pair trading if thats what you are looking for.
I am constantly amazed at the dictatorial attitude on this thread regarding single pair trading with this EA.

Having mostly used the EA for basket trading different numbers of pairs, there have however, been occasions when i wanted to trade a single pair (when it was available on previous versions) to quickly test something out etc.

And no, i don't want to use a different EA, or go to a different thread, I want to use this one which i have become accustomed to since its inception and my request to Sellar9 is to please reinstate that functionality!

If you don't like single pair trading using this tool then don't use it for that reason, its simply a matter of choice.
  • #3,748
  • Apr 18, 2014 7:17pm Apr 18, 2014 7:17pm
Quoting seller9
Basket_Writer_v2 has been published on the first page and a video on how to use it can be found at the YouTube link on the first page, its a short one so be sure you look at it. I haven't had time to test it as I just finished it and the market is closed so let me know if it will be better than version 1. As can be seen below, nothing is moving and the market is closed {image}
You have exceeded expectations yet again seller9!

The challenge is to know if we are in a trend or ranging which you cannot see easily from a table of numbers (at least i can't) and if so, where in the trend might we be and this looks like a possible answer

Brilliant work! I am certainly look forward to testing this one out come Tuesday night!
  • #3,749
  • Apr 18, 2014 9:01pm Apr 18, 2014 9:01pm
Quoting hughmac
{quote} You have exceeded expectations yet again seller9! The challenge is to know if we are in a trend or ranging which you cannot see easily from a table of numbers (at least i can't) and if so, where in the trend might we be and this looks like a possible answer Brilliant work! I am certainly look forward to testing this one out come Tuesday night!
Thanks for the compliment.


The next version is already under construction, it seems every time I complete one version I get six more ideas on how to make it better, so the next version is already taking shape and will be even better.

Good Luck
  • #3,750
  • Apr 18, 2014 9:18pm Apr 18, 2014 9:18pm
Quoting seller9
{quote} Thanks for the compliment. The next version is already under construction, it seems every time I complete one version I get six more ideas on how to make it better, so the next version is already taking shape and will be even better. Good Luck
Seller9, don't stop getting those ideas, this is one humdinger of a tool,
Thank you very much for sharing your creativity with all of us, you haver certainly changed my outlook on the market.
  • #3,751
  • Apr 19, 2014 3:29am Apr 19, 2014 3:29am
Quoting hughmac
{quote} If you don't like single pair trading using this tool then don't use it for that reason, its simply a matter of choice.
totally agree, im only trading baskets at the mo, but would like the option to use this great tool on a single if required.

no big deal to allow it?
  • #3,752
  • Apr 19, 2014 3:34am Apr 19, 2014 3:34am
Quoting hughmac
{quote} The challenge is to know if we are in a trend or ranging
again agree.
its easy to say we are now ranging the JPY7, but before we see the range the expectation is another trend.
i realize this is the bain of all traders but any incite to overcoming this would be greatly beneficial.

kudos seller

farewell allisonmagic. can we ask why you left?
i know its not the EA
im not aware of any FX "system" that works long term,
so what we have is a stunning tool to trade, baskets or not.... (EA + basket creator)
  • #3,753
  • Apr 19, 2014 3:35am Apr 19, 2014 3:35am
Quoting hughmac
{quote} I am constantly amazed at the dictatorial attitude on this thread regarding single pair trading with this EA. Having mostly used the EA for basket trading different numbers of pairs, there have however, been occasions when i wanted to trade a single pair (when it was available on previous versions) to quickly test something out etc. And no, i don't want to use a different EA, or go to a different thread, I want to use this one which i have become accustomed to since its inception and my request to Sellar9 is to please reinstate that functionality!...
There is no dictatorial attitude on this thread, you can have a look as far back as you can. The whole purpose of this thread is basket trading and the issues relating to it as seller9 as previously stated. Seller9 is only one person and doing this all for free. He can only do so much and cannot spend his time on other things that people want to use this EA for other than what he is interested in which is basket trading. So I don't think it is fair to come on here and then decide that it is ok to try and use the EA outside of its limitations.... Hope this helps. Just making sure we are on this page regarding the purpose of this thread and Seller9's intentions.
Look to the LEFT of your CHART.....
  • #3,754
  • Apr 19, 2014 3:36am Apr 19, 2014 3:36am
Quoting seller9
Basket_Writer_v2 has been published on the first page and a video on how to use it can be found at the YouTube link on the first page, its a short one so be sure you look at it. I haven't had time to test it as I just finished it and the market is closed so let me know if it will be better than version 1. As can be seen below, nothing is moving and the market is closed {image}
Thanks Seller9, the first version was pretty good, this update looks fab as well, thanks again.......
Look to the LEFT of your CHART.....
  • #3,755
  • Apr 19, 2014 10:56am Apr 19, 2014 10:56am
Basket_Writer_v2

A bug has been found in this version so I have deleted it from the first page, will repost when fixed.
  • #3,756
  • Apr 19, 2014 8:47pm Apr 19, 2014 8:47pm
https://charts.mql5.com/4/493/nzdchf...al-markets.png

For some reason I can not upload and screen shots of charts, so I have put in a link.
I have changed a few setting in the code to show what an early entry would look like,
as you can see this indicator is very good for an early entry on the daily charts,
and it shows when the trend or strength starts to weaken or get stronger, but is not good at Exits.
But the whole idea for the Basket Writer is to get in early on the Strength of the Pairs that we want to use as a Basket.
Im sure that we will be able to find the correct settings.
This is just a look at the possibilities that Seller has handed us.
He is the man.

  • #3,757
  • Apr 20, 2014 1:36am Apr 20, 2014 1:36am
Quoting seller9
{quote} Thanks for the compliment. The next version is already under construction, it seems every time I complete one version I get six more ideas on how to make it better, so the next version is already taking shape and will be even better. Good Luck
QUESTION!!!!!!!!!!!!!!!!
IT IS POSSIBLE TO IMPROVE A PIECE OF ART????????????

MY DEEPEST RESPECTS
Dan
  • #3,758
  • Apr 20, 2014 10:35am Apr 20, 2014 10:35am
Quoting steadyincome
https://charts.mql5.com/4/493/nzdchf...al-markets.png For some reason I can not upload and screen shots of charts, so I have put in a link. I have changed a few setting in the code to show what an early entry would look like, as you can see this indicator is very good for an early entry on the daily charts, and it shows when the trend or strength starts to weaken or get stronger, but is not good at Exits. But the whole idea for the Basket Writer is to get in early on the Strength of the Pairs that we want to use as a Basket....
Basket_Writer version 3 looks good so far, I think I snuffed out the bugs this time, but I will test a day or two before I release it, I want to make sure it is working this time around. I have made a change to the next version where the period buttons have been moved and you no longer need to press one to get an update of what the Robot has picked for that time frame, they will update every 5 minutes just like the signal display. If you like what the Robot has picked you just click the button and the Robot launches into its basket create function, just like before. You still can pick your own basket with the Pairs buttons, just like before. I will do a short video on it when I release it.

Attached Image (click to enlarge)
Click to Enlarge Name: example.jpg Size: 622 KB
  • #3,759
  • Apr 20, 2014 11:01am Apr 20, 2014 11:01am
Example showing consolidation of USDJPY in the H1 period.

One thing you have to remember, like any indicator, they can be totally wrong, always check your plain chart without any indicators on it to influence or cloud your decision, more indicators just lead to more confusion.

Attached Image (click to enlarge)
Click to Enlarge Name: example2.jpg Size: 476 KB
  • #3,760
  • Apr 20, 2014 11:15am Apr 20, 2014 11:15am
From the previous post here are the 5 H4 Long Robot picks using the Demo Test settings along with the offline chart they would have made.

This is just an example and these settings may not be used in the real world.

Attached Image (click to enlarge)
Click to Enlarge Name: example3.jpg Size: 706 KB
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