Shelley's multi-pair basket trader

[garyfritz]

The indicator "NB 10.2 TMA Slope Display v0.3" updates on every tick ,but that does not mean that Shelley's EA uses that also.

As far as I can see, the EA doesn't use that indi at all. There's an iCustom call to "10.2 TMA slope v.1.4B 4.30 for EA" and several to "10.2 WeeklyOpenHistogram 2x1 4.29" but none to "NB 10.2 TMA Slope Display v0.3". It has a string var that contains "NB 10.2 TMA Slope Display v0.3" because "all objects drawn by this indicator are prefixed with this" but it's never used.

So I don't think "NB 10.2 TMA Slope Display v0.3" is required at all. I didn't have it on my system when I set up the previous version of Shelley, and it worked fine. I don't think the current version needs it either.

[garyfritz]

What can be considered a reasonable risk level for Shelley's EA ?
$100 per 0.01 contractsize is somewhat little for the basket as it ran easily between -200 and +200 pips today.
$1000 per 0.01 contractsize seems very relaxed.

That depends on what percentage risk you're comfortable with.

The very first time I ran it, it went 500 pips negative. If you ran without a basket SL, you'd have to size your position accordingly -- say 0.01 per $1000 if you were comfortable with a $50 loss. But that's a 5% risk and that's pretty aggressive given how little we know about this thing's behavior.

If you set a basket SL, scale appropriately. E.g. a 100 pip basket SL will produce a $10 loss with a 0.01 position size -- 1% risk for 0.01-per-$1000, 2% risk for 0.01-per-$500, etc.

Given that it seems quite positive so far, but that it may work very differently when the market isn't so trendy, a 1% risk is probably safe. 2-5% might be OK for "mad money" but it's not conservative.

[Armen]

Totally agree with you Garyfritz. It's classic. But then another issues comes in line.
If you set your SL = 100 pips for instance, and the EA trades 10 pair, you have on average about 10 pips left for each currency to go against you. Pretty narrow corridor for maneuvering. In this case one may consider cutting down the number of pairs EA trades.
So, would it be possible to add a function to set number of simultaneously traded pairs in EA?
....

[SWG123]

So I don't think "NB 10.2 TMA Slope Display v0.3" is required at all. I didn't have it on my system when I set up the previous version of Shelley, and it worked fine. I don't think the current version needs it either.

Correct

[garyfritz]

If you set your SL = 100 pips for instance, and the EA trades 10 pair, you have on average about 10 pips left for each currency to go against you. Pretty narrow corridor for maneuvering. ... So, would it be possible to add a function to set number of simultaneously traded pairs in EA?

But remember that's an *average* of 10 pips per pair. So you could have one pair go 30 pips against you if two others went 15 pips positive. You're looking at the basket results overall.

You could limit the # of pairs, but I think using an "average pips per pair" SL is better. That's what Steve added for the TP just before he left: AdaptivePipsTakeProfit says "exit with a TP when I have this many pips profit per pair, average." He hasn't added the equivalent for SL but I'm sure it's not hard. I think you'd just have to declare the AdaptivePipsStopLoss extern and add

Code: Select all

if (AdaptivePipsStopLoss > 0) PipsStopLoss = AdaptivePipsStopLoss * OpenTrades;

to the end of CountOpenTrades().

[vivaldi]

The indicator "NB 10.2 TMA Slope Display v0.3" updates on every tick ,but that does not mean that Shelley's EA uses that also.

As far as I can see, the EA doesn't use that indi at all. There's an iCustom call to "10.2 TMA slope v.1.4B 4.30 for EA" and several to "10.2 WeeklyOpenHistogram 2x1 4.29" but none to "NB 10.2 TMA Slope Display v0.3". It has a string var that contains "NB 10.2 TMA Slope Display v0.3" because "all objects drawn by this indicator are prefixed with this" but it's never used.

So I don't think "NB 10.2 TMA Slope Display v0.3" is required at all. I didn't have it on my system when I set up the previous version of Shelley, and it worked fine. I don't think the current version needs it either.

You are right. The slope display is a separate indicator, apart from the Shelley's EA. It is used to show at once all currencies with their strengths per timeframe.

In the program of this indicator you can set the external variable 'Everytickmode = false/true'
true = every tick updates the slope display.
false = updates the slope display once per candle.

Vivaldi

[vivaldi]

Totally agree with you Garyfritz. It's classic. But then another issues comes in line.
If you set your SL = 100 pips for instance, and the EA trades 10 pair, you have on average about 10 pips left for each currency to go against you. Pretty narrow corridor for maneuvering. In this case one may consider cutting down the number of pairs EA trades.
So, would it be possible to add a function to set number of simultaneously traded pairs in EA?
....

You can edit already the currencies you want to use in the external variable 'PairsToTrade'.

Vivaldi

[Armen]

But remember that's an *average* of 10 pips per pair. So you could have one pair go 30 pips against you if two others went 15 pips positive. You're looking at the basket results overall.

You could limit the # of pairs, but I think using an "average pips per pair" SL is better. That's what Steve added for the TP just before he left: AdaptivePipsTakeProfit says "exit with a TP when I have this many pips profit per pair, average." He hasn't added the equivalent for SL but I'm sure it's not hard. I think you'd just have to declare the AdaptivePipsStopLoss extern and add

Code: Select all

if (AdaptivePipsStopLoss > 0) PipsStopLoss = AdaptivePipsStopLoss * OpenTrades;

to the end of CountOpenTrades().

Thanks mate. Now i got the point.

[Armen]

Totally agree with you Garyfritz. It's classic. But then another issues comes in line.
If you set your SL = 100 pips for instance, and the EA trades 10 pair, you have on average about 10 pips left for each currency to go against you. Pretty narrow corridor for maneuvering. In this case one may consider cutting down the number of pairs EA trades.
So, would it be possible to add a function to set number of simultaneously traded pairs in EA?
....

You can edit already the currencies you want to use in the external variable 'PairsToTrade'.

Vivaldi

Exactly. I forgot about it. That is the best solution. Thanks.

[Armen]

OK guys. It was wonderful day. I've learned a lot.
It's late evening in my timezone. Have a nice weekend. See you on Monday.
Cheers