Shelley's multi-pair basket trader

[Armen]

Nevertheless, running Shelley on touch of top band during DT will minimize risk.
Therefore, we can have tight SL - slightly above WS1 in this case.

[quanttraderjoe]

Cheers Joe.

I'm not really looking at the TMA Slope to see if the pair has retraced enough. I'm looking at the TMA Outer Bands on the 1h:

EG; for a short:
when price reaches the opposite (upper) TMA band on 1h and the higher TF is showing a strong trend it's time to kick Shelley into action. It should be doing this across most of the pairs that Shelley wants to trade too.

Also I like looking at the range of the 1H TMA bands (top to bottom) to know how much to target for each currency. Ie; right now there's ~100 pips range for 1H TMA in AUDUSD so I can set my TP to the AUDUSD to ~80 pips and should be golden as I expect it to go from top of TMA to bottom of TMA.

So check this out:

Calculate the TMA range for EACH currency pair Shelley wants to trigger and add them up. Then divide that by the # of pairs she wants to trigger and it should give you the approx #pips to target for AdaptivePipsTakeProfit

Jemook,

yes that is brilliant! using TMA BAND on h1 would be a superb way of ensuring a safe entry....so is there a way to program the ea such that we enter the basket when price crosses the middle TMA band? or any other way to automate this TMA band basket trigger method?

[spotdespot]

Nevertheless, running Shelley on touch of top band during DT will minimize risk.
Therefore, we can have tight SL - slightly above WS1 in this case.

Not sure how you have a SL in a basket of trades above a specific level?

I do take your point though about this being a good concept - I already wrote earlier to that effect. Personally I think searching for tighter stop losses will cost you more in the long run. Reducing risk is a great idea - and getting the entry right does that. Not necessarily in the traditional x% at risk sense but in the "giving us a bigger edge" sense.

[cytek]

Hi Cytek. Already closed on 254 points. Was a bit nervous.
On the previous page Jemook has detailed description on when to start Shelley in time of replacement.

Phew! Well played
Thanks - will check Jemook's post now. I usually use a touch of the upper BB on H1, but will check what he says as he's mastered NB 10.2 system to the T.

[Caillou]

Nevertheless, running Shelley on touch of top band during DT will minimize risk.
Therefore, we can have tight SL - slightly above WS1 in this case.

Not sure how you have a SL in a basket of trades above a specific level?

I do take your point though about this being a good concept - I already wrote earlier to that effect. Personally I think searching for tighter stop losses will cost you more in the long run. Reducing risk is a great idea - and getting the entry right does that. Not necessarily in the traditional x% at risk sense but in the "giving us a bigger edge" sense.

Yes, another easy day after a really comfortable DD. Jemook idea is great but I think too that the SL (in case you are using one) must not be small........

[cytek]

To the people that want to enter on a retracement, try the following:

1. See which currency pairs Shelley wants to trade.
2. Switch to the 1 hr chart on those currency pairs and wait for price to move to the outer TMA before switching Shelley on.

For example: Have a look at EURUSD, AUDUSD, GBPUSD, NZDUSD right now. They are all at the top of the 1 hr TMA. Now is a good time to short, not necessarily at London open.

Attached a pic of AUDUSD 1 hr for reference.

Couldn't have said it better - I learnt this trick from you earlier in the NB thread on FF
Tx Mate.

[mackaozy]

Just closed out at 230 pips again for the day..simples...!!

Started 0800 at London open again.. same as every day this week..

[quanttraderjoe]

hello mackaozy,

can u pls share your settings for adaptive tp, adapt sl, adap breakeven? your myfxbook looks bloody good! do u set it for tokyo, london n newyork open? pls share your set file.

i set mine at adapt tp 20, adapt sl 20 n adapt be 10 but results r not too good.
thanks man!

[cytek]

Just closed out at 230 pips again for the day..simples...!!

Started 0800 at London open again.. same as every day this week..

Nice! USD kicked a** after than PMI data came out Glad everyone had a +day, notwithstanding the -DD at the beginning of the day.

[phil_trade]

Hi all

today is a good day... why only demo !

Tokyo + London = +1000 pips and 240 secured

that's nice... even if market is quit "easy"