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Basket Trading EA

  • #4,861
  • Aug 7, 2014 10:07am Aug 7, 2014 10:07am
Quoting Pipotron
Hi all, I've gone through the video and created my first basket. Couple of questions that need some help here. 1. In order to create a second basket for a second pair, do I need to open a second blank chart and attach the EA again? On the video it says the blank chart must be kept running in order for the offline JPY basket chart to be updated. So does that mean I have to open a second blank chart, attach the EA and before I can write a AUD basket? 2. I tried creating baskets for CAD and USD selecting all 7 pairs. However, my chart seems to turn...

Hey Piptron...I have attached my unlisted video which shows you how use this EA...I did this for one of my good friends who is in the trading room with me and the others from this thread. Im not saying my video is better than Sellars, he does a great job going over his EA. I am just trying to help out alittle..Watch my video, if it helps, then great if not, I tried LOL LOL..

Inserted Video


Thanks
  • #4,862
  • Aug 7, 2014 11:20am Aug 7, 2014 11:20am
Hi all,

I've been to many threads and I have to say this thread has some of the most wonderful people who are quick to help others. There are some threads where people will just simply ask you to read all 1000 pages before asking questions. Its not that we newbies to a thread refuse to read, but mining for specific information over 100s of pages takes time.

Thank you all for the understanding, I am very grateful to you.
  • #4,863
  • Aug 7, 2014 11:47am Aug 7, 2014 11:47am
Yes,I have either seen a forum,where the people who have experience with trading are so helpful,as in this forum...I take my hat of for you guys...
  • #4,864
  • Edited 12:03pm Aug 7, 2014 11:47am | Edited 12:03pm
Quoting ziutek
Hi Seller9, {quote} Forgive me but the above statement is so generic. Can you please share some practical suggestions, on how to become the experienced trader? I know that Van Tharp is making similar statements - 90% of success is psychological and 10% system quality. But I simply do not get it. If you have a good system which works consistently, will you have psychological problems to follow it up? I accept, that if you trade something manually, you are subject to emotions, but If you use a robot, a machine not affected by psychology. My understanding...
An experienced trader doesn't need it (EA).
  • #4,865
  • Aug 7, 2014 12:07pm Aug 7, 2014 12:07pm
Quoting Smknyc
Getting ready for tomorrow trade setups 8-8-2014 - Just a lineup we will tweak baskets below at the end of NY session - 30 min prior Asia open news release today, then 30 min prior London Open. Q: I know many of you asking this question WHY 2 BASKETS? A: Pairs are split because of "inverse correlation" Upcoming news events: 9:30pm EDT AUD RBA Monetary Policy Statement Tentative JPY Monetary Policy Statement london close line up 8-7-2014: Basket 1 audnzd audjpy audusd audcad audchf eurnzd gbpnzd eurjpy chfjpy eurcad eurgbp usdjpy gbpusd eurchf gbpcad...

Hi Sam,

A million thanks to you indeed and for all your efforts to every one here on FF. I just wanted to ask if in your line up of pairs for Basket1 and Pairs for Basket2 if some one only wants to pick the best of four or five pairs from both line ups, will it be possible for you to line them up from the best of the pairs to the least of the best of pairs from each of the baskets. I am only saying this as some traders my preffer to only trade a four or five pair baskets and not the whole you have listed.

I hope I make sence but if you are not sure which ones are better than the others to trade, not a problem. We will have to pick from the line up based on PA or ADR of each pair unless anyone has a better suggestion.

It is just a thought fellows.

All the best and more pips to us all.
Born to rule my Economic World and Make a Difference!
  • #4,866
  • Aug 7, 2014 12:08pm Aug 7, 2014 12:08pm
Its nice to see so many contribute so much help to the new member, keep it up.

I will be doing an update to the next version in the next week, there will be just a couple additions.

1) More reverse pairs will be added.
2) A time to trade window will be added so if your not able to be around for something like a news event you will be able to set up the EA and then set a time when you would like it to start and stop looking for trades, this may come in handy for news events.

Happy piping to all
  • #4,867
  • Aug 7, 2014 12:19pm Aug 7, 2014 12:19pm
Quoting sharemaster2
{quote} Hi Sam, A million thanks to you indeed and for all your efforts to every one here on FF. I just wanted to ask if in your line up of pairs for Basket1 and Pairs for Basket2 if some one only wants to pick the best of four or five pairs from both line ups, will it be possible for you to line them up from the best of the pairs to the least of the best of pairs from each of the baskets. I am only saying this as some traders my preffer to only trade a four or five pair baskets and not the whole you have listed. I hope I make sence but if you are...
Hello Sharemaster,

Yes you can pick and choose the pairs from the line up. For example last night lineup we traded AUD during Asia split in two baskets and moved on to EUR pairs in NY.
Trading is Methodical - Markets are Emotional
  • #4,868
  • Aug 7, 2014 12:20pm Aug 7, 2014 12:20pm
Quoting seller9
Its nice to see so many contribute so much help to the new member, keep it up. I will be doing an update to the next version in the next week, there will be just a couple additions. 1) More reverse pairs will be added. 2) A time to trade window will be added so if your not able to be around for something like a news event you will be able to set up the EA and then set a time when you would like it to start and stop looking for trades, this may come in handy for news events. Happy piping to all
Great additions
Thanks Seller
Trading is Methodical - Markets are Emotional
  • #4,869
  • Aug 7, 2014 12:22pm Aug 7, 2014 12:22pm
Hi all,

Can the EA create a basket of any number of pairs? I tried creating a 6 pairs basket but the EA seems to always duplicate one of the pairs to make it 7. Having said that, would it also be possible to create a basket of more than 7 pairs?

Thank you.
  • #4,870
  • Aug 7, 2014 1:22pm Aug 7, 2014 1:22pm
Quoting Pipotron
Hi all, Can the EA create a basket of any number of pairs? I tried creating a 6 pairs basket but the EA seems to always duplicate one of the pairs to make it 7. Having said that, would it also be possible to create a basket of more than 7 pairs? Thank you.
Basket create can create a basket up to 30 pairs
The BT EA will only accept 20 Pairs

Be careful when you click the Writer buttons as they can double create a pair.
  • #4,871
  • Aug 7, 2014 2:12pm Aug 7, 2014 2:12pm
Quoting Smknyc
{quote} Yes you can pick and choose the pairs from the line up. For example last night lineup we traded AUD during Asia split in two baskets and moved on to EUR pairs in NY.

Hello Paul,
I've been testing ways to setup custom baskets and wondered if you could answer some questions about your method?

I've been using the currency strength bar from Seller9's expert to create custom baskets at the end of the NY market. An hour after NY closes I've noted the weakest and strongest currency and based on that select about 6-7 pairs. A trade was either setup as a new basket on one chart, or on 6-7 individual charts with pending trades around support and resistance levels. Sometimes this method to select the 'hot'pairs has resulted in a strong move over the next eight hours, and other times the strength/weakness was already changing and during the next eight hours the price moves are weak.

I have read your previous posts, but could I ask about your technique for determining the strongest and weakest single currency(ies) each day? Could you correct any mistakes I have listed and then give me feedback on the attached chart?

I believe that:
* You look at the four main pairs plus commodity related pairs. So; EURUSD, GBPUSD,USDJPY,USDCHF, AUDUSD, XAUUSD (?)
* By simply viewing a price chart of the last couple weeks you note the current trend.
* By looking at trend lines and support resistance levels of the last day you determine the current daily trend.
>> ? ? From this you decide which pair(s) have a strong recent and daily trend, and from this information to choose the strongest/weakest single currencies. Then from this you build your baskets of pairs which will be sold, and bought.
* Pending entry levels are set on each of the pair charts before Asian session begins.
* TP levels are set based on personal preference; # daily pip total, S&R levels, Fibos, Trail stop, etc.

For me the unclear part of this process is where I placed the ??? marks above. How exactly do you choose the strongest and weakest single currency from which to build the trade-able pairs and baskets? One guess at a partial answer is that you've found your hot currency when a currency pair's two week trend is in direction agreement with a pending break of daily short term trend.

Your ''key' currency from yesterday was I believe the AUD which looked very weak. So pairs like AUDUSD were sold, and those like EURAUD were bought.

But I'm still puzzled as how to find the one hottest (weakest/strongest) currency, before the related pairs make their price move.

I know you don't use indicators, only chart price action. But in an attempt to solve the problem I've tried to find currency weakness by combining a pending trend line break with weakness shown by fast indicators.

On my attached chart I included three indicators to look for early warning of short term trend exhaustion. On the AUDUSD the RSI has moved into overbot (>70). The AO shows extreme over-extension and it's red bars showed a downward break had begun. The Stoch was also turning down. I would have set a trend line and pending sell stops stops below it, hoping that the Asian session would bring a price drop and trade entry.

Could you give me your feedback and explain your better way to select the 1-2 strongest currencies each day, such as you did with the AUD yesterday?
Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: method-to-locate-weak-strong-bef-Asian.PNG Size: 44 KB
  • #4,872
  • Edited 3:36pm Aug 7, 2014 2:34pm | Edited 3:36pm
London close lineup link here http://www.forexfactory.com/showthre...01#post7658801

NY Close lineup

Lineup 1
gbpaud
euraud
usdchf
nzdchf
usdcad
cadchf
nzdcad

Lineup 2
audjpy
audusd
audnzd
audcad
audchf
eurjpy
gbpjpy
chfjpy
eurusd
gbpusd
cadjpy
eurnzd
gbpnzd
nzdjpy
eurcad
gbpcad
nzdusd
usdjpy
eurchf
gbpchf
eurgbp
Trading is Methodical - Markets are Emotional
  • #4,873
  • Edited 6:39pm Aug 7, 2014 5:06pm | Edited 6:39pm
Asia Open lineup. Noticed how the basket are shaping up? We have two major news events on the way in the next 1 1/2. Happy PiPS everyone.

Line up 1
EURUSD
AUDUSD
GBPUSD
NZDUSD
EURCAD
AUDCAD
AUDNZD
EURCHF
EURNZD
EURGBP

Line up 2

USDJPY
CADJPY
GBPJPY
NZDJPY
USDCHF
USDCAD
CHFJPY
GBPAUD
EURJPY
AUDJPY
GBPCHF
GBPNZD
NZDCHF
Trading is Methodical - Markets are Emotional
  • #4,874
  • Aug 7, 2014 5:22pm Aug 7, 2014 5:22pm
Quoting Leomeister
{quote} Hello Paul, I've been testing ways to setup custom baskets and wondered if you could answer some questions about your method? I've been using the currency strength bar from Seller9's expert to create custom baskets at the end of the NY market. An hour after NY closes I've noted the weakest and strongest currency and based on that select about 6-7 pairs. A trade was either setup as a new basket on one chart, or on 6-7 individual charts with pending trades around support and resistance levels. Sometimes this method to select the 'hot'pairs...
Leomiester I'll let SMK answer this for you.

Paul
Trading is Methodical - Markets are Emotional
  • #4,875
  • Aug 7, 2014 6:06pm Aug 7, 2014 6:06pm
Hello all,

I've taken a look at the EA and it seems only Pair 1 and 2 can be reversed. Is there anyway we can reverse more than 2 pairs?

I've opened my first basket on a demo account, can you guys comment on this baskets strength and weaknesses?

Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: aud6.JPG Size: 135 KB
  • #4,876
  • Aug 7, 2014 6:15pm Aug 7, 2014 6:15pm
Quoting Leomeister
{quote} So pairs like AUDUSD were sold, and those like EURAUD were bought. {image}
Hi Leo,

Is there a reason why EURAUD should be sold? Or should we sell AUD against all strong cur and buy AUD against all weak ones in order to have some form of a hedge?

From yesterday's PA, USD, JPY is strong while AUD and NZD is weak.

So a small basket might look like this?

Short - AUDUSD, AUDJPY, NZDUSD, NZDJPY

Long - AUDNZD

All comments are greatly appreciated.
  • #4,877
  • Edited 8:25pm Aug 7, 2014 6:37pm | Edited 8:25pm
In my previous post we talked about how basket lineup was shaping up, news hit the wire and here is the out come. PLAN your trades - TRADE your plan.

Thank you seller - http://ow.ly/3o3hDd this and the next 9 trades all profits will be donated to one of my fav charity.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: CCapture.PNG Size: 43 KB
Click to Enlarge Name: CCCapture.PNG Size: 59 KB
Trading is Methodical - Markets are Emotional
  • #4,878
  • Edited 7:35pm Aug 7, 2014 7:24pm | Edited 7:35pm
Quoting Pipotron
{quote} Hi Leo, Is there a reason why EURAUD should be sold? Or should we sell AUD against all strong cur and buy AUD against all weak ones in order to have some form of a hedge? From yesterday's PA, USD, JPY is strong while AUD and NZD is weak. So a small basket might look like this? Short - AUDUSD, AUDJPY, NZDUSD, NZDJPY Long - AUDNZD All comments are greatly appreciated.
Understand the core 6 before you jump head first trading crosses.

  1. https://charts.mql5.com/5/401/eurusd...ari-uk-ltd.png << Core 1
  2. https://charts.mql5.com/5/401/usdchf...ari-uk-ltd.png << Core 2
  3. https://charts.mql5.com/5/401/gbpusd...ari-uk-ltd.png << Core 3
  4. https://charts.mql5.com/5/401/usdjpy...ari-uk-ltd.png << Core 4
  5. ====================================================
  6. https://charts.mql5.com/5/401/audusd...ari-uk-ltd.png << Core 5
  7. https://charts.mql5.com/5/401/usdcad...ari-uk-ltd.png << Core 6
  8. ====================================================
  9. https://charts.mql5.com/5/401/gbpaud...ari-uk-ltd.png << Cross
  10. https://charts.mql5.com/5/401/euraud...ari-uk-ltd.png << Cross

Trading is Methodical - Markets are Emotional
  • #4,879
  • Aug 7, 2014 8:55pm Aug 7, 2014 8:55pm
My last basket trade, it hit my TP.

Entry:
Attached Image (click to enlarge)
Click to Enlarge Name: Sell Trade Opened 8-7---21-17.gif Size: 56 KB


Exit:
Attached Image (click to enlarge)
Click to Enlarge Name: Trade Closed-8-7---23-52.gif Size: 56 KB
  • #4,880
  • Aug 7, 2014 9:12pm Aug 7, 2014 9:12pm
Hi all,

I'm thinking of getting the new Microsoft surface and was wondering which specs I should get in order to run multiple MT4s for basket trading. My current tablet kinda passed away so i thought its a good chance to get a tablet while running Windows 8.1.

The Surface specs ranges from a i3 64GB to a i7 256 GB. There's a few i5s in the middle of the range. I'm not sure how taxing these basket EAs are so maybe someone can enlighten me as to the whether to get the top specs or bottom specs will do the trick.

Thank you all in advance.
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