Shelley's multi-pair basket trader

[SteveHopwood]

Here is a little toy to put a fresh smile on your faces. The script counts the pips of the trades in your history tab and returns the result in pips (not points).

I shall put it in the manual trade post 1 later. In the meantime, it makes counting a lot easier.

Bear in mind that it is a blunt instrument in that it counts trades twice if some part of the original was closed at BE time.

[quanttraderjoe]

Shelley Plus Gary idea.

I think the latest addition to Shelley - the SlopeConfirmationTimeframe - could be the key to Shelley + Gary. Basically instead of being concerned with yesterday's D1 slope all we do is trigger a trade in the direction of the main slope when the lower TF SlopeConfirmationTimeframe becomes >=0.8 <=-0.8 (keeping the original Shelley qualification criteria obviously).

This could also be triggered when the TMA True band criteria are met too but I haven't used this yet.

For me Shelley Plus Gary doesn't work with basket trading as well as original Shelley as the trades will be less frequent and not in groups to make baskets of but that is probably a different discussion.

Hello spotdespot,

yeah i see your point, that appears to be a sure-win strategy if we use a tight stoploss and a even tighter breakeven..maybe stoploss 20 tp 30 and breakeven 10 ? what would your recommended mptm settings be for trades of such a nature?

[garyfritz]

I'm finishing to translate in Delphi for ForexTester to backest multi-pair with good historical data. Will post infos asap.

That's great, Philippe! I can do single-symbol testing in TS but this beastie really needs to test all symbols together. I'll be eager to hear your results!

[SteveHopwood]

New toy guys: http://www.stevehopwoodforex.com/phpBB3 ... 906#p14906

Coders, I cannot test the trade exit function because I have no open trades on the demo. Can you pass your eye over the code and see if you can spot anything obvious.

[SteveHopwood]

Version 1t in post 1. This fixes a number of issues that have arisen recently. The jumping stop loss thingy is a biggy and makes this an essential re-download if you want to use this feature.

I have never looked forward to a trading week as much as this one.

[SteveHopwood]

I meant to add: quanttraderjoe and monkeh, I have read your pm's and like both your ideas. I shall implement them this week.

[forexripper]

One quick suggestion here. Shouldn't the TP for the basket be based on some % of ADR for each pair less the % already covered so this will be a dynamic TP.

[maudur]

...
Apologies Maudur, ...
To answer your question:

No, I do not use SL!
I trade small enough sizes that even if there is a massive move against me in the market I will not even come close to blowing my account. This was something I learnt some time ago from Bob and in doing so I can still grow my account anywhere from 5 - 10% per month. I regularly have trades open overnight and sleep quite comfortably.

...

Thank you very much Shelley.

When do you will close your negative trades? At some negative percent of account? Or do you use recovery?

Thanks

Losing trades are dealt with in the basket, so the AdaptiveTakeProfitPips is a collective Take Profit from all open trades which takes into account negative & positive trades. So profitable trades need to make enough profit to cover any losing trades and all trades are closed when the basket profit is reached.

I hope this makes sense!

Shelley, Thank you very much.

I understand the functioning of AdaptativeTakeProfitPips but I want to know is whether at some point you decide to close the orders, such as when the basket is losing many pips or when the DD reaches a certain percentage.

Thank you and sorry by my English.

[fxozgirl]

Shelley, Thank you very much.

I understand the functioning of AdaptativeTakeProfitPips but I want to know is whether at some point you decide to close the orders, such as when the basket is losing many pips or when the DD reaches a certain percentage.

Thank you and sorry by my English.

Drawdown has not been an issue for me to date (I trade small lots sizes so can handle periods of large drawdown anyway), so I have not considered what a critical point may be yet where I would need to take a loss...also I am on demo so still watching & learning how the EA is trading.

[SteveHopwood]

I have Shelley loaded onto two demos.

At 23.00 local time, both fired up their Asian baskets.

One demo is running as expected.

The second demo opened multiple trades and closed them instantly. Didn't cost too much, as only(?) three trades were opened per pair.

No idea why this happened. Just be aware that it did, those of you who have the bot on a live account.

I will add a Sunday candle filter in time for next week.