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Shelley's multi-pair basket trader
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Author:  SteveHopwood [ Sat May 26, 2012 2:37 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
Version 1g is in post 1:
  • - done the point conversion thingy.
    - added adaptive breakeven and breakeven profit lock.
    - added a minute input so Shelley can be more accurate with her trade timing.
    - adopted Paul's (Baluda's) breathtaking contribution, moving the Slope code 'in-house'. We no longer need any of the 10.2 indi's on our charts - or even in our indi folder.
    - spotted a logic error that should have prevented S from closing the basket following a retrace to breakeven.
Nobody that I can recall has mentioned the Cash tp/sl stuff, so I have removed it for simplicity. I have not deleted the code, merely commented it out, so it is still there should we change our minds. For now, it is easier not to have to develop exit strategies that require two lots of coding.

:D
Author:  garyfritz [ Sat May 26, 2012 2:45 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
I used the Cash TP to exit my positions yesterday, but only because the Pips TP didn't work... :) And I think you've fixed that problem now, so no worries.
Author:  spotdespot [ Sat May 26, 2012 3:02 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
Fantastic. This EA has me more excited than I can remember being about one for a while. One of the main reasons NB 10.2 manually traded is so good, imo, is because it identifies the trend so well and this just piggybacks that beautifully. People have been saying this has worked so well because many pairs have been trending BUT if it only trades trending pairs, and it is rare that the markets are completely flat, now we have the adaptive TP etc this may be more consistent than people might expect. I hope I'm right ;)
Author:  SteveHopwood [ Sat May 26, 2012 3:03 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
garyfritz wrote:I used the Cash TP to exit my positions yesterday, but only because the Pips TP didn't work... :) And I think you've fixed that problem now, so no worries.
Just in case, here is the same version but with the comment // symbols removed, and the inputs hidden by having the extern deleted. All you do to restore the functionality is replace the extern's.

:D
Author:  garyfritz [ Sat May 26, 2012 4:35 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
Steve, hate to throw more work at you, but...

It looks like you've added adaptive BE stops, which is great. But don't we need adaptive SL to complete the set?

Also I notice PipsStopLoss checks for < 0, not > 0. So I guess the intent is that SL is expressed in negative numbers, e.g. a 100 pip basket SL would be PipsStopLoss = -100, which I didn't realize. CashStopLoss checked and negated a positive value but PipsStopLoss doesn't.
Author:  SteveHopwood [ Sat May 26, 2012 4:40 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
garyfritz wrote:Steve, hate to throw more work at you, but...

It looks like you've added adaptive BE stops, which is great. But don't we need adaptive SL to complete the set?

Also I notice PipsStopLoss checks for < 0, not > 0. So I guess the intent is that SL is expressed in negative numbers, e.g. a 100 pip basket SL would be PipsStopLoss = -100, which I didn't realize. CashStopLoss checked and negated a positive value but PipsStopLoss doesn't.
Thanks. I have made the change; it will be in the next release. I have added the EA I promised to my previous post.

I have no plans for an adaptive stop loss. Basket trading and basket stop-losses do not mix. This does not mean I definitely will not; just that I have no plans to.

:D
Author:  garyfritz [ Sat May 26, 2012 5:06 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
Hm. Why do you say they don't mix? A fixed-pip stoploss means you have a variable and unknown (in advance) SL-per-pair. Just as the adaptive TP lets you say "I want to shoot for 25 pips per pair, on average," an adaptive SL lets you say "I'll give it 20 pips per pair of breathing room."
Author:  spotdespot [ Sat May 26, 2012 5:17 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
I have to say I am a little confused too. I agree with Gary - it seems a bit odd to have a per trade TP, a per trade BE function and a static SL that effectively will give an unknown max risk/reward.
Author:  SteveHopwood [ Sat May 26, 2012 5:19 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
garyfritz wrote:Hm. Why do you say they don't mix? A fixed-pip stoploss means you have a variable and unknown (in advance) SL-per-pair. Just as the adaptive TP lets you say "I want to shoot for 25 pips per pair, on average," an adaptive SL lets you say "I'll give it 20 pips per pair of breathing room."
Because the basket starts in instant DD because of the spread. A basket stop-loss has shown to cause consistent losses in every basket trader I have coded or traded, unless it is a very distant one - so distant that traders would be closing the basket manually in any case.

I even considered not have a stop loss input at all. Its presence encourages people to use it; they set it too close; the EA is a loser.

:D
Author:  SteveHopwood [ Sat May 26, 2012 5:45 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
spotdespot wrote:I have to say I am a little confused too. I agree with Gary - it seems a bit odd to have a per trade TP, a per trade BE function and a static SL that effectively will give an unknown max risk/reward.
There are no per-trade tp or be functions. Some people are using mptm to create them, but that is their choice.

:D
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