Shelley's multi-pair basket trader

[fxozgirl]

I'm reposting this from Steve, who re-posted it from Bob's thread at FF

Shelley, I don't know if this helps, but I found this in one of Bob's posts and copied it to the end of the auto-trader as a comment so I would not lose it - in case I decide to use it further down the line.

"This little gem saved from http://www.forexfactory.com/showthread. ... ost5661628

I found this out. The best time to TP was 2-3 hours into the jpy session. 1-2 hours before the usd session,
3-4 hours into the usd session and then if there is anything left a couple of hours before the jpy session.
These seem to be the peak times for price movement and then afterwards a holding pattern or retracement."

It might be worth keeping this in mind

[SWG123]

I'm reposting this from Steve, who re-posted it from Bob's thread at FF

Shelley, I don't know if this helps, but I found this in one of Bob's posts and copied it to the end of the auto-trader as a comment so I would not lose it - in case I decide to use it further down the line.

"This little gem saved from http://www.forexfactory.com/showthread. ... ost5661628

I found this out. The best time to TP was 2-3 hours into the jpy session. 1-2 hours before the usd session,
3-4 hours into the usd session and then if there is anything left a couple of hours before the jpy session.
These seem to be the peak times for price movement and then afterwards a holding pattern or retracement."

It might be worth keeping this in mind

No argument there, Shelley, as I stated earlier just stress testing, looking at what might happen in a worst-case scenario. No way I would advocate entering at that time but curious to see (in the absence of back-testing) how or whether recovery develops. My point is that observing behaviour under unfavourable conditions is essential so that we can defend ourselves against them.

[fxozgirl]

Turned it loose at 11am = 1pm NY time, and it worked like a charm. That may not be an optimal time to run the bot though, since 30 mins later ALL FOURTEEN POSITIONS were losing.

I'll see where it goes today, and set it up for London open tomorrow.

Also, I use mptm BE 25 +3 which helps protect as well

[fxozgirl]

I'm reposting this from Steve, who re-posted it from Bob's thread at FF

Shelley, I don't know if this helps, but I found this in one of Bob's posts and copied it to the end of the auto-trader as a comment so I would not lose it - in case I decide to use it further down the line.

"This little gem saved from http://www.forexfactory.com/showthread. ... ost5661628

I found this out. The best time to TP was 2-3 hours into the jpy session. 1-2 hours before the usd session,
3-4 hours into the usd session and then if there is anything left a couple of hours before the jpy session.
These seem to be the peak times for price movement and then afterwards a holding pattern or retracement."

It might be worth keeping this in mind

No argument there, Shelley, as I stated earlier just stress testing, looking at what might happen in a worst-case scenario. No way I would advocate entering at that time but curious to see (in the absence of back-testing) how or whether recovery develops. My point is that observing behaviour under unfavourable conditions is essential so that we can defend ourselves against them.

No problem, stress testing is important...
I just don't want others to start using this live without stress testing and getting burnt.

Let's face it, Ive been trading in this manner for 2 weeks (on demo) in a strong trending market, I have no idea how it will respond when things start to change.

Please keep testing and reporting your results , thanks

Cheers

[SWG123]

OK, after a another day of strong moves we've had something of a bounce, which now looks like to be losing momentum as liquidity slows. It will be fascinating to see if the trend resumes tomorrow in line with the TMA slope.

P.S. Much more open speculation about Greece Euro exit today ...

[SteveHopwood]

Turned it loose at 11am = 1pm NY time, and it worked like a charm. That may not be an optimal time to run the bot though, since 30 mins later ALL FOURTEEN POSITIONS were losing.

I'll see where it goes today, and set it up for London open tomorrow.

Also, I use mptm BE 25 +3 which helps protect as well

Shelley, the reason I coded this EA is that you appeared to be saying that you traded the D1 Slope at 0.8/-0.8 at x start time, and closed the basket at 400/ish pips profit and you appeared to like the idea of my coding this when I suggested it.

Since then, I recall reading a post somewhere where you talk about using WOH as part of the trading decision.

Now you talk about using mptm 25/3.

It is a tad difficult to code an EA when the foundations that underpin it are moving. Cancel that. Coding the EA is easy.Making it useful is impossible.

So, does WOH and mptm 25/3 need adding to Shelley the EA? Or are these random whims that I can ignore?

Yes or no, please. Not, "Sometimes I do, sometimes I don't." Code cannot cope with ambivalence.

[fxozgirl]

Shelley, the reason I coded this EA is that you appeared to be saying that you traded the D1 Slope at 0.8/-0.8 at x start time, and closed the basket at 400/ish pips profit and you appeared to like the idea of my coding this when I suggested it.

Since then, I recall reading a post somewhere where you talk about using WOH as part of the trading decision.

Now you talk about using mptm 25/3.

It is a tad difficult to code an EA when the foundations that underpin it are moving. Cancel that. Coding the EA is easy.Making it useful is impossible.

So, does WOH and mptm 25/3 need adding to Shelley the EA? Or are these random whims that I can ignore?

Yes or no, please. Not, "Sometimes I do, sometimes I don't." Code cannot cope with ambivalence.

Steve, please accept my apologies for not being clear
I have mentioned these things in various posts across the forum, but probably not in 1 post in 1 definitive manner and for that I apologise, especially when you offered to code the EA.

Just to be clear, so we are all on the same page, there is no sometimes involved. This is what I check for every time I take a trade:

1. Must be on a Daily chart
2. Is the slope reading +/- 0.8?
3. If yes to #2, check to see if WOH (on daily chart) is indicating the same direction
4. If yes to #3, I enter the trade in the direction of the trend

To manage exits, I attach mptm which I have set for a Global Closure of 400 pips and also set BE at 25/5 (sorry the 25/3 I posted previously was a typo).

That's it.

The BE provides some level of protection against a reversal as I am taking trades that are strongly trending and most trades do reach breakeven. The odd trade that doesn't reach BE has so far been sufficiently covered by the global closure.

I sort of thought the direction of the WOH and the slope went hand in hand, so apologies for not being clear on that.

Thanks again for your time and patience

[Jemook]

Ok took my first batch just now. All positions are in profit 10 minutes after it placed the trades. This is very interesting!

[SteveHopwood]

Shelley, the reason I coded this EA is that you appeared to be saying that you traded the D1 Slope at 0.8/-0.8 at x start time, and closed the basket at 400/ish pips profit and you appeared to like the idea of my coding this when I suggested it.

Since then, I recall reading a post somewhere where you talk about using WOH as part of the trading decision.

Now you talk about using mptm 25/3.

It is a tad difficult to code an EA when the foundations that underpin it are moving. Cancel that. Coding the EA is easy.Making it useful is impossible.

So, does WOH and mptm 25/3 need adding to Shelley the EA? Or are these random whims that I can ignore?

Yes or no, please. Not, "Sometimes I do, sometimes I don't." Code cannot cope with ambivalence.

3. If yes to #2, check to see if WOH (on daily chart) is indicating the same direction

Is this the direction-since-week-open WOH that appears on all charts, or the trend-direction WOH that appears on all the other timeframes?

[Jemook]

Ok took my first batch just now. All positions are in profit 10 minutes after it placed the trades. This is very interesting!

Absolutely crazy. Is there a way to find out how many pips up I am on Empty4?