Basket Trading EA

Ladies and Gentlemen,

This message is for those who use an accessory indicator Visual Orders I modified and shared earlier on this thread.

I realized that this indicator was originally designed only for 4-digit brokers and would not display projected P/L calculations correctly on 5-digit brokers. I have added an automatic broker digit discovery and the problem seems to have been solved.

Attached is the updated version of this indicator. Again, default settings are fine - no need to change anything.

Thanks TJ, great work!

Hi there dear friends.

I have a seemingly smart IDEA

What If there was an extra HM table (or indicator) in Casino which will decide if a trade should be terminated ?

So like SELLER9 said And I did confirm by testing the HM 5 minutes setting of 8 is awesome. I think there is a lot more potential in the HM settings than we use sofar.

What if there was and other HM setting in casino that for instance can be set to 60 minutes (5 for instance) and when lower than a set amount (5) will terminate the trade opend by the hm 5 min 8 setting. (or terminate the trade when the hm setting changes collor?


I think this is great for the break out moments when price rises or lowers quickly.

Thanks for reading this and let me know what you guys think of this.

Greetings From Amsterdam.

Trnd Break Strategy been working very well since October. Picking your currencies based on (risk on/risk off) indices, commodities, fundamentals and short/mid/long sentiment and looking over currency indexes is the key. Generally spend about an hour working out my plan of attack based on these principles. I have been getting a return of 15% per week on average for over 2 months. So far using a small real money account but will increase capital after the slow Christmas and January period.

No easy pips out there people you will all need to do your homework to pass this exam.

All the best and happy trading.

Hi Mr. Seller and all people
In my opinion, could be a good idea that HM dont trigger trades when its on the same side or color (red- red or green- green) because mostly of the time that trades fail.
Thanks and regards
crebcreb

Hi Alftrade,

Your post sounds like very interesting to me, would you mind to share some of your idea on how to prepare the homework base on TrndBrk strategy. Also I see you have 2 plugins, wondering what would be the 2nd one and how it works to you.

thanks bud

how do you deal with corelation pairs?

Hi fallenleaf

It is a bit too long of a description of how I go about picking the pairing for my currencies to post it all on here, happy to PM you if you would like more info.

This is just one part of the research I do before trading.

Indicies
1st I would look at how the asian indicies have been travelling. This gives a good indication if it is a risk on/risk off market. If all the major asian indicies have fallen by over 1% you are in a risk off scenario and the money is moving out of shares and risky investments and into safe haven currencies. You will see the JPY, CHF rising. The USD and EUR are also considered safe haven currencies but are more driven by fundamentals and can be reversely correlated so be careful having them in the same basket in the same direction. The Asian indicies are filled with big mining and commodity based companies so if the indicies are dropping then you may also see the commodity based currencies like AUD/NZD/CAD dropping with them. The reverse is true if the indicies have had a rise of 1%, this is a risk on situation.

Be aware that this may only happen once or twice a week if you are lucky, if these indices are mixed then skip this first step. If you do find yourself in a risk on/off scenario then it is relatively easy pips.

Commodities
To be explained if people are interested

Fundamentals
To be explained if people are interested

Sentiment
To be explained if people are interested

Index
To be explained if people are interested

I use the RSI indie, if any of the currency pairs that I have chosen are OS/OB on the 1 hour, 4 hour or 1 day then I wont trade these or I will wait for the pull back before trading.

I use the TRND BRK and H&G indies to execute my trades. I use the JSL with 8 pip buffer and TP of 20 pips. All on the 1 hour chart. Casino has a 50 pip TP.

Very happy for input, its all learning and working to that goal of financial freedom.

Hi
Thanks for sharing ...
I, for one, am always interested in learning about other people successful strategies.
Look forward to your advice
Cheers

Well, well, well - the week started excellently.
I was told by far more knowledgable people than me to watch everything more closely and dont just let it run ... and they were right.
The last couple of days using this strategy, that initially worked well, came badly unstuck.
Still finished the week in a very positive note with many, many pips but could have been much much better had I managed better.
Thats life, as long as I learn from my experiences.
Thanks to all who contribute.
Cheers

Casino_Basket_Trnd_Brk_v3

Here is the latest version 3.

I forgot to mention one thing in the video.

When using the separate timers for each pair be sure to set the auto for that pair to false.

Hi Alftrade,

Many thanks for your explanation and sharing here, its very helpful !

guess not myself but everyone here would like to expect to see more of your shares if you don't mind, such as Fundamentals and Sentiment. i'd assume these 2 might be the key factors related to forex market and trading. So can you please Sir?

thanks again

Thank you Seller9 for the new update !

Hi Seller9

Another very informative video.
Thanks for the additional detail - certainly helps me and hopefully others ...

Cheers

Hi Seller,


Very informative video! I do have a suggestion though. I would like to have a trading window to be set in the indicator. Only during this trading window the indicator should sent the up/down signals to CASINO. I'm suggesting this because this way you easily link the trading time window to the pairs in the basket.

-Popko-

Hey Guys

Thanks for the good feedback. Continuing on to the next step in the selection of my pairing.

Commodities
This is a bit of an obvious section but still very important. The main commodities that I would be looking over would be Oil, Cooper, Iron Ore and Gold. It would also be a good idea to look at powdered milk prices for reference to NZD. Oil prices are directly related to the CAD, so if you have had a large drop in oil prices then the CAD will be dropping as well. This is because CAD is one of the biggest exporters of oil and oil has a large impact of their economy. You need up to date prices either from the futures markets or stock markets that are open and trading oil, there is no point seeing what oil has closed for during the NY session as it has moved to much before the LD open. Cooper and Iron Ore are related to AUD and if these commodities are dropping then the currencies that are related to them might be as well. Gold is related to the USD but it is reversely correlated so if gold goes down the USD could be rising. USD is still moved more from its fundamentals and sentiment than from gold so this is more just something to watch but not really to give you a direction to trade.

I more use Bloomberg for this information at the moment.

Fundamentals

I have been following financial news for over two years and trade these news releases in different ways. It is hard to give a short description on this as it is so varied. If there is large news releases coming up during the LD session I wont trade that currency or the currencies that are closely correlated to the currency. If there has been a large news release during the asian session and the deviation was large enough then you can use this as direction for the LD session. I would also be looking at positive or negative forecasted figures as the market will tend to start pricing in these forecasts before the release so this can generally give direction. The bigger the news and the bigger the deviation and the earlier the markets will start pricing it in.

I am more of a fundamental trader than a technical trader so following fundamentals is what I do, I always have one eye on the releases, I write out a trading plan on Monday morning based on these fundamentals. Even though this is the most important aspect of correctly executing this strategy, it is also the most time consuming and will be what can break or make a trader. These fundamentals are also what ends up adding to the currencies Short/Mid/Long term sentiment.

When I get a bit more time I can go through Sentiment and the Indexes and how I use the TRD BRK and H&G, if people are still keen. A big thanks again to seller9 for his tireless work on this project.

All the best for this coming week

Thanks for sharing. One keen dude here.

Greetings from Amsterdam

Thanks for the info ... appreciated and look forward to more.

I will PM you on how I day trade Fe60, in particular FMG on the AU market.

Cheers

Hi all,

I am new to this thread, and first I want to thank seller9 to put such good system in place, respect! I have been using paid EA's which promised a lot of money but got dissappointed every time. To put so much effort in this EA at no cost is really an admirable attitude

I have some experience with MT4 and have been reading for a week now and installed casino v43. I do not want to hold you guys back in the discussions finding new strategies so for now I am exploring the capabilities of the system and starting with the basics. I have been trading one week with it and had a 40% profit only with 8 ball, which was actually shocking me with those other paid EA's which brought me 15% of losses this week!

I already understand the most part of the EA and I try to find as much as possible info myself, saw all the basic videos and trading looks normal in my MT4, I do have some "leftover" questions which I would like to share. Maybe they can be useful for other traders too.

1. I am using currently only 8ball on 1H on all pairs, trading times 24/24hrs. I saw that in the EA configuration that trading sessions and pairs per timeframe can be selected. I am trading at a broker with paid commission (7$ per lot), and the spreadcheck is alreading filtering out the non-active pairs, do you guys recommend to use the timeframes per pair for basic setup or is my approach ok ? Is it maybe recommended to decrease the spreadcheck for commissioned account (spreads are lower anyway)?

2. What is the difference between 8ball and the manually filters above? Is it better to use both at the same time (or is 8ball the automatic version of all the filters activated, just trying to understand), and which filters are until now the best to use for basic setup for automatic trade (not talking about any plugin yet). What experiences you have?

3. About StopLosses. I saw that casino is able to put virtual stoplosses and also uses them (good). An extra security can be built in in the expert settings, which I prefer to have enabled at all times so the stoploss is enabled at the brokers side. Which value is recommended to fill in at the stoploss bases to cover the most of the pairs in a safe way? I use for now only H1 strategy and virtual stoploss is at 1.0 at the main screen (so actually the default settings)

4. I was going trough some videos (also the plugins), and saw that it was not necessary anymore to put the 28 pairs in separate charts because casino captured all the info itself. Was that for a certain plugin, or is it aplicable also for the basic setup?

Thanks already for your time, and if my questions were already were answered before I want to apologize, but its hard to read the 650+ pages in a few days (I will try to do the following weeks) ;-) All answers appreciated !

Happy trading,
bunne

Thank you for the new one, seller9...I'm gonna try it on a EUR basket tomorrow at 12:00 (GMT+1)...The red news are starting at 12:00, so in the ea's properties I set it to start at 11:59, but what endtime shall I set? How long will the news impact last? I have set the autotrade for the EUR pairs to false...(A noob question?)...