BDM Trading Tips, Tricks, and Development

Multi pair trading using BDM.

I am a true believer HP
Good luck with this thread I know it will be Awesome . Also thank you for sharing
Cheers

Subbed.

We've moved these below posts from the Kopratasa EA & BDM thread
and put them here to kick off and give a home to any new ideas/suggestions/discussion for the BDM development
-------------------------------------

Exits (Part 1)

I've not got much to do this weekend
so
I thought I'd compose this post and edit it over the next 24/48 to put out some ideas.

Most of these dashboards/platforms are revolving/focusing on entries.... and making amazing progress.
But... exits are a problem remaining unsolved.... and NONE are (really) 'price action' based.
Caveat: ANY exit strategy can only be based on probability... that's the 'best' we can EVER hope to do..

But at the moment, ALL are based on kind of a 'shotgun' approach rather than a 'rifle' if you know what I mean.

There's the 'basket' idea... which is definitely a shotgun approach... hoping for more 'good' then 'bad' entries.

There's the ADR approach/pair based... but which again is (hoping) for a % of range... but that greatly depends on how 'early' you set an entry.

There's the Fibo concept/pair based... allowing for/hoping for a % of retrace.... but not knowing WHICH 'key' % will/can be accomplished & is more higher tf appropriate rather than for intra day trading (ie NOT relevant to most platforms/strength metering entries & intra-day trends)

There's the S&R approach/pair based... which has merit but is looking 'backward' for insight....
either 'static' S&R's like consolidation zones/channels/murry math/camarilla, over bought/sold zones of CCI/RSIetc...
or
'dynamic' S&R's like MA's, Bollingers etc.

It's kind of a blind spot... maybe it always will be.
It's definitely the 'elephant in the room'... the 'black hole' that remains a key issue to make some progress with.

I have a suggestion/idea to play with/discuss and will come back to present/describe it.
The problem: It has never been able to be 'coded'... and I'm not sure why.
I'm speaking of an 'auto-exit'... something that almost EVERY ea bot designed desperately needs but (usually) fails to accomplish.
Can something like that be created? (see my sig )
I'll be back and do a part 2 w/ PRETTY PICTURES later.

Exits (Part 2)

HA Stretch Candles

I use this visually and have for a long time in trading.
I THINK it can be translated into 'numbers' and coded.

I call them HA Stretch Candle exits. They can and do occur on all time frames. (Primarily I look for them on the 5m and 15m)
They are OFTEN excellent reversal points.

There are some 'rules' I've developed from experience with them but here's the basics.

A 5m Chart


Here are just the HA candle bodies using an MA1 for candle high and candle low to better show ratio and distance.

A 15M Chart




So, a challenge to the coders among us:
Forget a stretch candle ea for now... there's definitely 'rules' to all this.

Let's see if a basic indicator can be coded to simply put a little dot or star over the stretch candles on a static chart.
Code/upload to here (if you don't mind HP?)
I would love to see this happen.

Cheers,
G.

Quoting Mooz
{quote} Golden, do you have any examples of the One-Click anchor chart trading view with explaination........... short......... Thx
-----------------------------------
Hi Mooz... I'm sure you'll get the hang of it this weekend.

If you're going to work on weekends it's best to download and use this.
Broker feeds shut down and things won't 'refresh'.... so
this generates a flow of ticks so that charts/ea's can respond to your changes/manipulations w/o needing live Broker feed.

Not much to tell that I haven't said already...
I use 3 terminals all linked to 1 account..
(the reason is stupid... but I like to treat them as separate applications & ALT-TAB btw them with my left hand and keep my right hand on the mouse )

1 terminal/chart is the BDM for viewing pair charts/templates.....
1 terminal/chart is devoted to Currency Strength watching for strength/weakness... (Using MADdash currently)
1 terminal/chart is for Entries/Exits/Trade Management (using Dings dashboard version)

There's variations but basically I leave MADdash/Currency Strength on the screen and watch it now and then for an anchor group to go 95% RED or 95% GREEN.
Let's say its the GBP.... and it's showing Strength
I bring up the BDM and click on the Sterling using one of my templates... and it would look like this:


If I see 1 or 2 or ALL that look good... I bring up the Trade dashboard and launch the trade...
Then...
I go back to the BDM and click the 'LIVE' button and it brings up all the trades I just entered...
from the BDM I can add SL and or TP manually or exit with my FXCM tools. If I add trades or do a 'close all' I do it from the Trade Dashboard.
That's pretty much it.
----------------
If I decide to scalp... I do it ALL from the BDM w/ the FXCM tools and don't use Ding's Trade Dashboard (too confusing to flip between when seconds count)
Have a good weekend.
G.
----------------------
Quoting Hotpotato
{quote} Which toolkit do you use ? Was planning to build those trading options into BDM.
-------------------------
It doesn't 'work' on weekend charts so I'll use some archive shots....
and
I don't know if all brokers offer the MT4 'One Click Trading' but it's a feature offered on FXCM MT4 platforms
(My guess..... they 'added' it to MT4... it always was/is a feature offered on their 'in house' trading platform, BEFORE they ever offered MT4 to their clients.)


Once activated you can click/toggle on the tiny white ► in the upper left corner of any chart to make the RED/BLUE (below) appear/disappear....


then a Red/Blue trade launch button appears for 'one click' entries




After entry, you can 'click and drag' on the entry line, and create a TP (first); and then a SL.
To close a trade, you cursor over the entry line and Rt. click to close or modify.




Hope that helps, it's a great little feature... quick & user friendly....
on the other hand, you KNOW the problems I had with FXCM MT4
ignoring auto EA attempts at placing SL/TP's
w/ either AIMS or your ADR SL/TP setting on GVC's Ultimate dash...
so
If you're creating a MANUAL (only) BDM...
then I can recommend their system to mimic/code. It works very well.
-----------------------------

What/Which Trade Management Dashboard to use?

If you are monitoring Currency Strength of the 28 pairs against one another
then you are testing/trying the various CS meters or HP's Kopratasa or GVC's HeatMaps or Honestknave's MADdash

You'll find yourself at some point having to choose:
Whether to enter on a single pair, a few pairs...
or an entire anchor family.
The BDM allows you to view/sort/group/tile these anchor charts!

At this point in time only 2 trade dashboards offer/allow you to buy/sell an entire anchor family all at once w/ a single click:

DingDong created the first/only dash to offer anchor 'family' buy/sell feature on her dashfibo version... (search paperclip for various versions here)
which was awesome and unique.
until
exiao adapted a version of GVC's Ultimate with the added feature.

Now you can choose either and have that same ability.

Testing auto-trade EA's

The BDM: It's the best tool in the whole wide world!!!!!!!
Why?
Let's say you want to 'test' an auto-trading ea.
Just load it onto one of you templates and save.
Now open all 28 pairs.
You are now beta testing the bot against all 28... or just EUR or just COR 7...

Make a News Template
Here's one using the Core 7



**I've not had success (yet) generating the news feature on the BDM

Of course i am here to.
Will look into this.

Here is prototype, but i doubt that it can work. You can't exit on high/low until price is back to fit condition (open - close < high/low - open/close)

Thank you 4 a first effort
I will try it and give some feedback
and
you highlight/grasp 1 of the issues... (in 'live' action) the HA 'body' grows and shrinks as candle 'develops'.... (and ONLY from 1 end)
but
there IS a 'moment' in time when the 'ratio' requirement is 'met or exceeded'...
that
is what we're ultimately after.

Starting w/ a static chart is only a first step...
again THANKS for getting the party started.
-----------------------
Update:
@ rrrem
Believe it or not.... that is EXCELLENT! Congrats!
for 'testing' purposes let's only use the 15M chart for now.

►the next step:
Eliminate all the 'HA Doji Type' candles AND any HA Candle w/ an opposing tail showing.

update:

@rrrem
Thanks 4 quick v.2

I checked it with/without both true/false parameters...
of the 2 parameters:
the 'no opposite wick' seemed to cull almost 99% which is fine but eliminated some good ones too.
no 'doji' parameter did not eliminate the dojis.. cut out very little.

stretchcandlefinderV.2
got 3 correct
2 wrong
and missed 7-8+ on this screenshot.


but.... here was stretchcandlefinderV.1


so... making progress
but I can be of no help coding...
there are other rules/allowances to this (like a 'little' tail on LARGER candles is fine.)

Define "LARGER".
It's open source, anyone may contribute. Try it now, maybe for better doji detection we should compare 4/2 digits (on 5/3 digits) but it should work now.

Thanks... got back just now to see your update... in a bit of a squeeze atm...
I will test and edit this post in a little bit.
and yes... thanks for making it open source for collaboration... great idea.
I will talk about 'larger' in the next phase.
------------------------------------
UPDATE:
ALLRIGHT!!!!
Now THAT is impressive!!! Congrats!!!!
no errors and got 90-95% w/ the parameters I gave you.

Taking a break.... will talk more later!!


Got to get some R&R for now... London opens @ midnite for me in about 7 hrs.....
zzzzzzzzzzzzzzzzzzzzzzz.......

►Keep something very IMPORTANT in mind as you look at rrrem's latest effort:

These 'dots' are NOT 'look-back' computed... (other than basic HA math)
These dot's are computed within a single candle's data and within THAT data... there exists a 'moment'.

What we are shooting for (live):
In that 'moment' the little 'dot' will appear (meaning the 'ratio' has been met)
Visually, the little dot will NOT go away AND it's NOT waiting for a candle close.
The dot can be an auto trigger for a close OR close & reverse.
This is what makes them unique little dots. It's very exciting.

They're:
not like generating fractals by using a set of 5 candles... 2 in front/2 in back...
not like zig-zag's or a host of other indicators that seem to pick tops and bottoms.... but in reality are all 'hindsight'/period computed.

These little dots don't HAVE to be in 'perfect' places to be useful...
but very often.... they are.

It is not error, it is about tolerance. (3x little wick)

You are getting me too EXCITED!!!! LOL....
Keeps looking better.... (just keep STAYING within single-candle data ONLY....
and this WILL be very promising.)
Thx again rrrem.



ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ
ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ
MUST
GO
TO
SLEEPPPPPP!!!

(rrrem is pointing out the each of the 'missed' stretch candles had a 'little tiny tail wick' and were excluded)

OK...
then...

Let's set up an adjustable 'tolerance' variable for a 'tail'
and 'allow'. (a teensy/tiny 'bit')

It will come in very handy later for testing/tweaking.

Wake up G,

Your last action was 4 and a half hours ago, enough sleep.


Do not agree with you here.
I have traded more than enough baskets where all the pairs in the basket were winners.

If you basket selection is solid and you set good entry and exit points 90% of the baskets good be profitable.
You do not have to monitor all individual pairs (of course much easier now with BDM) and you do not have to exit the pairs in the basket that reverse immediately because the reversal is hopefully compensated by the other pairs.

Of course you should not trade a basket composed of 7 EUR and 1 AUD pair, that's risky.