Basket Trading EA | Page 247 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

BASKET TRADE Management: Using multiple trade management EA's on basket trades 11 replies

Basket Knights - A Basket Trading Round Table 1,313 replies

Trading 8 Forex Pairs - Fully Automatic - Basket Trading 7 replies

TMS basket: Dashboard for a basket of MA-Filtered RSI Signals 135 replies

Currency Basket and Carry Trading 51 replies

Attachments: Basket Trading EA
Exit Attachments

Basket Trading EA

  • #4,921
  • Edited 9:45am Aug 9, 2014 9:13am | Edited 9:45am
Quoting Aromos
Hi smkyc, what TF do you use when determining the pair to split? Regards
What TF has to do with picking or splitting pairs? If the price moved 10 pips on daily chart same pips reflect on lower TF. Understand the core pairs then move onto crosses.

Pull up AUDUSD - USDCAD side by side and study start from weekly.
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 237 KB
Trading is Methodical - Markets are Emotional
  • #4,922
  • Aug 9, 2014 10:05am Aug 9, 2014 10:05am
What these pairs have in common?
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 233 KB
Trading is Methodical - Markets are Emotional
  • #4,923
  • Aug 9, 2014 10:14am Aug 9, 2014 10:14am
Quoting Pipotron
Hi Seller, I've been building baskets and studying their PA. One question, do I need multiple MT4s or multiple blank charts in order to keep the the various baskets up to date? Example, I built a AUD and JPY basket. Do I need to build them separately on 2 MT4s? Or can I just use 1 blank chart with 1 indi running and both baskets will auto update? Thank you.
Here is what I do.

This is all on the same MT4 platform

1) Open a M15 chart of an active pair that gets plenty of ticks
2) Open the properties of this chart and set all colors to none to get a blank chart
3) Attach Basket Writer to this chart
4) Create basket #1
5) Clear the buttons
6) Create more baskets if needed
7) When done, you can either just stop the robot or remove it for now to save on the cpu. If you remove it you can just add it back to this chart when you want to create another basket.

When done on this blank chart look at the indicators list and you should have the same number of basket creator indies as baskets you created.

Do not close this chart or delete any of these indies, it must stay up and running for the off line charts to get up dated.

Once you have all the offline charts open go back to the blank chart and open each of the basket create indies and click ok for each one, this will insure the charts have been created properly and are being updated. If for some reason you see an offline chart that is not being updated, go back to the its indy on the blank page and open the indy and click OK, this should get it running again.

Now go back and put your template or EA on each of the offline charts.

Remember, your basket name is set in the Basket Writer properties, so each time you create a new basket with a new name, stop the BW EA and change the name and then click OK.

The BW will add the number of pairs in the basket to the name.

The final name in BW must not be longer than 9 characters, this includes the ## signs.

No longer than 9 characters #1234567# total.

After creating a lot of baskets and offline charts and you are done and want to clean up your HD

1) Open the files folder and delete all basket names you are not presently using, there will be 2 files for each basket, one is used by the basket creator and the other by the basket EA to load the correct symbols for the basket.
3) Open the history folder and delete the history of the offline charts you are no longer using.
4) Also, if you have screen capture turned on in the basket EA, you may want to delete the image files that it has created in the files folder also.
  • #4,924
  • Aug 9, 2014 10:34am Aug 9, 2014 10:34am
Quoting seller9
{quote} Here is what I do. This is all on the same MT4 platform 1) Open a M15 chart of an active pair that gets plenty of ticks 2) Open the properties of this chart and set all colors to none to get a blank chart 3) Attach Basket Writer to this chart 4) Create basket #1 5) Clear the buttons 6) Create more baskets if needed 7) When done, you can either just stop the robot or remove it for now to save on the cpu. If you remove it you can just add it back to this chart when you want to create another basket. When done on this blank chart look at the...
Dear seller
Thank you for everything

My deepest respects

Dan
  • #4,925
  • Aug 9, 2014 10:37am Aug 9, 2014 10:37am
?
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 174 KB
Trading is Methodical - Markets are Emotional
  • #4,926
  • Aug 9, 2014 10:41am Aug 9, 2014 10:41am
Quoting Smknyc
What these pairs have in common? {image}
USD is strong vs rest of the pairs?
  • #4,927
  • Aug 9, 2014 10:44am Aug 9, 2014 10:44am
Quoting Pipotron
{quote} USD is strong vs rest of the pairs?
Nope - wrong answer
http://en.m.wikipedia.org/wiki/Commodity_currency
Trading is Methodical - Markets are Emotional
  • #4,928
  • Aug 9, 2014 10:54am Aug 9, 2014 10:54am
Quoting seller9
{quote} Here is what I do. This is all on the same MT4 platform 1) Open a M15 chart of an active pair that gets plenty of ticks 2) Open the properties of this chart and set all colors to none to get a blank chart 3) Attach Basket Writer to this chart 4) Create basket #1 5) Clear the buttons 6) Create more baskets if needed 7) When done, you can either just stop the robot or remove it for now to save on the cpu. If you remove it you can just add it back to this chart when you want to create another basket. When done on this blank chart look at the...
Hi Seller,

In order to create second basket, which we have not named, should we remove the EA and reattach it to the blank chart? Else we'll not be able to name the new basket. Example after creating a USD basket, is there any way we can name a JPY basket without removing the EA and reattaching?
  • #4,929
  • Aug 9, 2014 11:04am Aug 9, 2014 11:04am
Quoting Pipotron
{quote} Hi Seller, In order to create second basket, which we have not named, should we remove the EA and reattach it to the blank chart? Else we'll not be able to name the new basket. Example after creating a USD basket, is there any way we can name a JPY basket without removing the EA and reattaching?
Dear Pipotron
Stop the BW,go to properties , replace USD name with JPY name , click OK.
After that ,the new basket will be USD
I think this will help you
Respects
Dan
  • #4,930
  • Aug 9, 2014 11:18am Aug 9, 2014 11:18am
Thank you, Sir!
  • #4,931
  • Aug 9, 2014 12:30pm Aug 9, 2014 12:30pm
Quoting hukam
{quote} try not to make wrong decisions, but incase it happen it might not cause total loss but less pips. so no worries try this.. we have Two stop loss in our EA 1. Profit lock.. and 2. SL line (SL Button) .... once you/we are in average profit (eg. Average profit 5pairs x 15 pips is average = 150pips approx, you might apply booth PSL (Profit Lock) & SL line (Line stop loss) 75/2.2 (SL Line) = 34pips.. and 34/2.1 (P.SL) = 16pips.. but group pairs are little aggressive you might modify it as per your need.

Hi Hukam...my buddy,

thank you for your advise and tips to protect profit gain and secure from losses.

my understandings towards your calculations can be set BE as Profit Lock and supported by SL settings and trailing stop loss to observe further winning pips or in case of pullback or reversal? Very wise of you sir.

Thank you for your kind concern.

Regards.
Kopra
You do good, Good will come to you. Self deception never succeed.
  • #4,932
  • Aug 9, 2014 12:53pm Aug 9, 2014 12:53pm
Quoting Smknyc
{quote} What do you mean by not so good results?

Hi sifu sam,

it is my personal judgement after I exit all entry.
after closing I refer back to every single pair chart to evaluate the outcome I've trade from basket trading.
I can see my poor judgement on selecting valid pairs that can be group into customized basket.
It can be 2 or 3 times winning pips if I can select better.

I like green dollar sign sir but my concern is how many pips I can produces from every trade entry.
This shows me that I'm not competence enough and need to learn and practice more.

PO setup also one of the issue....how far should I set the distance from current price. For now I set PO at nearest HILO and it seems a little bit far...60 to 90pips either buy stop or sell stop limit. IF I use BO, meaning that the entry will trigger more further....

I'm lucky enough to have you to guide me.

Happy weekend sir.

Kopra.
You do good, Good will come to you. Self deception never succeed.
  • #4,933
  • Aug 9, 2014 1:04pm Aug 9, 2014 1:04pm
Quoting Smknyc
{quote} Nope - wrong answer http://en.m.wikipedia.org/wiki/Commodity_currency

OMG....it's commodity currencies in a group list.

what will be the outcome when most are commodity currencies in a basket sir?

Kopra.
You do good, Good will come to you. Self deception never succeed.
  • #4,934
  • Aug 9, 2014 1:11pm Aug 9, 2014 1:11pm
Quoting seller9
My last basket trade, it hit my TP. Entry: {image} Exit: {image}
Hi Seller,

I'm curious as to why you sold this basket @ NY close. NZD was the strongest currency @ that moment.
  • #4,935
  • Aug 9, 2014 2:35pm Aug 9, 2014 2:35pm
seller9,thank you for all that you have done with this EA...But,I have a question...Is there a possibility to create timesettings into the EA? So we can input a spesific time we want the EA to start trading...
(Maybe this have been talked about before,if so,I must apologize that I haven't read all the 247 pages,yet.)
  • #4,936
  • Aug 9, 2014 2:57pm Aug 9, 2014 2:57pm
I just want to give you a penny for my thoughts, and if you put your two cents in... I will be in profit! This is my thoughts on correlation and currency strength as it relates to basket trading. Currency strength is how strong a particular currency is over the rest. Solely based on head to head strength or weakness. So, the USD might be stronger than the GBP, EUR and CHF, but weaker against JPY and the CAD. Where as correlation is directional, or as my mind sees it, the direction of march. Some currencies march together and some go in the opposite direction. Strength comes into play with correlation as to at what pace the currencies are marching together or in the opposite direction. A quick story to help illustrate positive correlation (marching in same direction) and where strength plays. I was a Company Commander in the Navy for three years (That is the same as a Army or Marine Crops drill instructor). One of the toughest things to do was to take 84 people of all different sizes, tall short and medium recruits and teach them to march in formation. Now with different size people there comes different size legs, different strides or size of step, and different strengths. The goal is to get them all to march in the same direction and at the same step. If you put all the tall people in front of the formation and going back to the smallest, the tall people will run away from the rest. But if you put the short people in front, going from short to tall, the short will set a pace that all have the ability to maintain. So the correlation with currency pairs that go into a basket, you want the pairs that are all marching in the same direction and at the same tune. I a nut shell, correlation is most important in basket trading because the goal is to have a bunch all going in the same direction. If not you will have those taking away from what others are making for you. Remember, Strength as it pertains to basket trading is nothing more than how fast/strong a currency goes... whether in the same direction or opposite. Strength relates to Correlation and visa versa. You have a basket of 7 pairs, that are all positively correlated, it does not matter so much as to the strength as long as they are all going in the same direction. If strength changes in one currency over another, then that will effect the correlation of the basket, because as on pair continues to weaken to the point where it will change direction of march. And that will take away from your positive correlation. In closing, formulating a good correlated basket will be more challenging as more pairs are added. Think about it, its easy to pick a few currencies that are correlated, but as you want to add to the basket, it becomes harder to maintain the positive correlation, because they all need to be cross correlated to each other. It's far better to have a basket of three pairs 90% correlated, than a six pair basket that is only 60%. The lower the correlation percentage the weaker the basket and the less money made. The higher percentage of correlation the higher the reward. The follow link is a great correlation table that is updated hourly. http://fxtrade.oanda.com/analysis/currency-correlation Correlation and Strength are dynamic and a basket must be checked often, so they my be update, thus maintaining the strongest possible basket to trade. And that's my thought!!! Cheers
  • #4,937
  • Aug 9, 2014 3:02pm Aug 9, 2014 3:02pm
Quoting KopraTasa
{quote} OMG....it's commodity currencies in a group list. what will be the outcome when most are commodity currencies in a basket sir? Kopra.
I think they all depend on oil so most likely to behave same way
  • #4,938
  • Aug 9, 2014 4:58pm Aug 9, 2014 4:58pm
Quoting KopraTasa
{quote} OMG....it's commodity currencies in a group list. what will be the outcome when most are commodity currencies in a basket sir? Kopra.
You still missing the big picture look at the charts again.
Trading is Methodical - Markets are Emotional
  • #4,939
  • Aug 9, 2014 5:20pm Aug 9, 2014 5:20pm
Quoting Roger7777
I just want to give you a penny for my thoughts, and if you put your two cents in... I will be in profit! This is my thoughts on correlation and currency strength as it relates to basket trading. Currency strength is how strong a particular currency is over the rest. Solely based on head to head strength or weakness. So, the USD might be stronger than the GBP, EUR and CHF, but weaker against JPY and the CAD. Where as correlation is directional, or as my mind sees it, the direction of march. Some currencies march together and some go in the opposite...


Hi Roger7777,

wow....great write up sir. the marching example enlighten my thoughts and the way I should see and think.

Thank you sir.

Kopra.
You do good, Good will come to you. Self deception never succeed.
  • #4,940
  • Aug 9, 2014 6:32pm Aug 9, 2014 6:32pm
Quoting Pipotron
{quote} Hi Seller, In order to create second basket, which we have not named, should we remove the EA and reattach it to the blank chart? Else we'll not be able to name the new basket. Example after creating a USD basket, is there any way we can name a JPY basket without removing the EA and reattaching?
All you have to do is stop the robot,(with the Button) then change the name in the EA settings and click OK, the robot will restart with the new name without having to remove it, just stop it, that is all that is needed.
6 traders viewing now