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Trading Dashboard For Currency Basket Trader (EA) 33 replies

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Dashboard Trading

  • #17,821
  • Mar 11, 2016 11:31am Mar 11, 2016 11:31am
Quoting knok
I have an idea... In basket trading, you generally close everything when you reach a target. So while you bank a fixed amount of cash, you also close trades that could run much longer. The dashboards here have basket management that allow you to lock gains at fixed amounts. This is good, but does not address the current losing trades. What about a setting where, when specific total profit is reached, you cull losers by pairing off and close out same $ amount of winners? Hopefully you then let your remaining winners run. There are different ways...
I don't know, it doesn't sound too well for me.
If you break even with the losers by closing some of the winners and let the other winners run, you also run the risk, that the open winners will eventually turn to losers making the basket worthless more or less.

And with my luck it's bound to happen that those winners will turn to losers fairly quickly lol
  • #17,822
  • Mar 11, 2016 12:14pm Mar 11, 2016 12:14pm
Quoting Hotpotato
{quote} Yea well, that is basket trading. 1) No. First off all your broker has to allow partial close and second you are a kind of hedging and you are better of with real full hedging (if you have the funds). 2) Again No. That is not basket trading, that is individual trading. Let's turn it around and you start to see a dashboard as a individual "trade viewer/manager" where every trade has it's own take profit and stopploss.
OK, can we be flexible and forget using the term "basket" and just discuss strategies...

It was my understanding that as long as you are trading more than the minimum lot size, partial close is acceptable. I did not realize that some brokers do not allow. Actually, I just confirmed for my broker, 1 click trading has to be disabled in order to specify partial close. The other caveat is that US brokers have FIFO and other rules which muck things up. Lets forget partial close....


Back to getting rid of losers....Say you have 15 positions open and your total profit is currently $20. You have 4 trades that currently equal $40 in losses. If you close those $40 in losses and approximately $40 in gains, you still have about $20 in profitable trades open. You also clear pairs to allow new trades to be opened once allowed by your predefined parameters.

Of course you run the risk that the profitable trades you are left with will turn red on you, but remember, these trades are also being managed either by the EA or an external manager like DashTZ.

The whole individual "trade viewer/manager" where every trade has it's own take profit and stoploss is the typical way of thinking about things. Closing losers with similar amount of winners at the same time will cancel out trades that had poor entries and smooth out swings in your P&L. Assuming you start with a decent strategy and can get to preset profit level, it should help prevent a death spiral since you are not hedging, not hanging onto losers, not averaging down, etc. This is essentially putting a stoploss on every losing trade. Obviously you can get to the point where you never see green and that is where your predefined money management comes into play.

How about a setting(s) where at every $x profit, cull losers against winners?

I'm just trying to inject some fresh ideas here after observing how the dashes trade. With a 24/5 strategy, I see how losses can creep up to eventually overtake profits. A lot of these losses build up when trades are not trending and stuck in a range without much movement when the SL doesn't get hit....then add on more of these trades and soon your dash is overcome with red.

I'll see if I can try this manually during a slow period.
  • #17,823
  • Mar 11, 2016 2:01pm Mar 11, 2016 2:01pm
So you prefer to close x trades at $0 and keep the floating profit open for... ?
Remember floating is NO profit.

Quote
Back to getting rid of losers....Say you have 15 positions open and your total profit is currently $20. You have 4 trades that currently equal $40 in losses. If you close those $40 in losses and approximately $40 in gains, you still have about $20 in profitable trades open. You also clear pairs to allow new trades to be opened once allowed by your predefined parameters.

$20 profit and close $40 loss and have $20 left ?
Your math is wrong but beside that.

Lets say you do that and you free up the pairs for new trades i can happen that they will also go sour and you have to write of the rest of you floating profit just to get back to break even. And what if i the mean time your floating profit has reduced.......

What you are trying to do is avoid losses but guess what, that's forex trading.
Leveling out losses will only lead to more loss.

You are way better off banking profits take a beer and continue trading or write off your losses take a whiskey and continue trading.

And again hedging is only for the ones with deep pockets.
info@metacharttools,com
  • #17,824
  • Mar 11, 2016 2:39pm Mar 11, 2016 2:39pm
Good old times.

On another not yet extinct but sadly abandoned forum (remember GVC ? )we sometimes had a contest who was the fasted to post a selfie of a doubled live account.
Once i posted this one.

It is Friday, he already took his profit or loss for this week and closed shop.....
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info@metacharttools,com
  • #17,825
  • Mar 11, 2016 3:11pm Mar 11, 2016 3:11pm
Quoting Hotpotato
Good old times. On another not yet extinct but sadly abandoned forum (remember GVC ? )we sometimes had a contest who was the fasted to post a selfie of a doubled live account. Once i posted this one. It is Friday, he already took his profit or loss for this week and closed shop..... {image}

Mate ... Relaxare in style
Attached Image
By failing to prepare, you are preparing to fail.
  • #17,826
  • Mar 11, 2016 3:19pm Mar 11, 2016 3:19pm
I CALL IT GOLD DING DONG MACHINE
God bless you
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  • #17,827
  • Mar 11, 2016 3:56pm Mar 11, 2016 3:56pm
Quoting osnatw
I CALL IT GOLD DING DONG MACHINE God bless you {image}
It is an amazing dashboard we all need to try and come up with the best possible settings for it. I will be trying many different settings next week and compare results.
  • #17,828
  • Mar 11, 2016 5:49pm Mar 11, 2016 5:49pm
Quoting osnatw
I CALL IT GOLD DING DONG MACHINE God bless you {image}
Is this With the shared set file? My results don't look like these at all, much more red
  • #17,829
  • Mar 11, 2016 5:52pm Mar 11, 2016 5:52pm
Quoting bazze
{quote} Is this With the shared set file? My results don't look like these at all, much more red
Same here haha.....nothing even close to the results he is getting using his posted set file and I tried on three different brokers.....
  • #17,830
  • Mar 11, 2016 5:59pm Mar 11, 2016 5:59pm
his setfile has 24/5 session trading, but maybe he is being more selective in what session's he's trading?

i have amended his set file to trade london open and ny/lon crossover session

lets see what monday brings...


Quoting forexaz
{quote} Same here haha.....nothing even close to the results he is getting using his posted set file and I tried on three different brokers.....
  • #17,831
  • Mar 11, 2016 6:12pm Mar 11, 2016 6:12pm
Quoting blamshakk
his setfile has 24/5 session trading, but maybe he is being more selective in what session's he's trading? i have amended his set file to trade london open and ny/lon crossover session lets see what monday brings... {quote}
I believe it was mentioned on one of the posts that session times are being ignored and will need a fix...so even if he did set different times to trade it would trade 24/5.
  • #17,832
  • Mar 11, 2016 6:17pm Mar 11, 2016 6:17pm
I suppose the best thing we could ask for is a set file closest to the way Ding Dong manually trades, ahhamidz , or JibalaPasan now that would be some very fun testing we would have.
  • #17,833
  • Mar 11, 2016 6:26pm Mar 11, 2016 6:26pm
oh really? if thats the case a fix would be good soon, I think session times are vital to trading these dashboards



Quoting forexaz
{quote} I believe it was mentioned on one of the posts that session times are being ignored and will need a fix...so even if he did set different times to trade it would trade 24/5.
  • #17,834
  • Mar 11, 2016 6:56pm Mar 11, 2016 6:56pm
Quoting osnatw
I CALL IT GOLD DING DONG MACHINE God bless you {image}
I used your set file, but the results were different. Why?
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  • #17,835
  • Mar 11, 2016 8:03pm Mar 11, 2016 8:03pm
Quoting forexaz
{quote} Same here haha.....nothing even close to the results he is getting using his posted set file and I tried on three different brokers.....
Same here. Maybe he changed his settings?
  • #17,836
  • Mar 11, 2016 8:08pm Mar 11, 2016 8:08pm
maybe the session/s was different?

Quoting AcerPhoon
{quote} Same here. Maybe he changed his settings?
  • #17,837
  • Mar 11, 2016 8:09pm Mar 11, 2016 8:09pm
its not quite abandoned yet you are right...if you go to the testing lab on that site you will see a nice development...

Quoting Hotpotato
Good old times. On another not yet extinct but sadly abandoned forum (remember GVC ? )we sometimes had a contest who was the fasted to post a selfie of a doubled live account. Once i posted this one. It is Friday, he already took his profit or loss for this week and closed shop..... {image}
  • #17,838
  • Mar 11, 2016 8:25pm Mar 11, 2016 8:25pm
Quoting kamiu363
{quote} I used your set file, but the results were different. Why? {image}
Try to open the dashboard 1 Hour before london open or 30min after london open , timing is important , sometimes it will go for a large DD and it will slowly show the profit . we just need to figure the best setting and timing to run the EA and " Understand the market behaviour " I think
1 simple mistake makes you become 1000x better.
  • #17,839
  • Mar 11, 2016 8:56pm Mar 11, 2016 8:56pm
Quoting kamiu363
{quote} I used your set file, but the results were different. Why? {image}
u may check the previous screenshot got 2 lost and only 1 won but only posted the green pips but not dd

u needs to test ur own to have the best settings as oswell saying
  • #17,840
  • Mar 11, 2016 9:41pm Mar 11, 2016 9:41pm
Quoting Hotpotato
Good old times. On another not yet extinct but sadly abandoned forum (remember GVC ? )we sometimes had a contest who was the fasted to post a selfie of a doubled live account. Once i posted this one. It is Friday, he already took his profit or loss for this week and closed shop..... {image}
This cat is just too cool.
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