Glenn,
i'm also not doing too well with 240.
I'm watching how Balls is dealing with the difference that Joe picked up at the moment.
I kept the g running before Joes's change and then with Steves latest version on seperate charts, different magic numbers and they both doing exactly what they're supposed to be doing. buying against each other.
I'm curious to see if they'll move enough to hit BE on both positions. Just an experiment and we'll see how it go's.
so far, this is looking like gambling and that scares me. like flipping a coin and deciding what direction the market will trend for the day.
Balls on the other hand, had a method, and based on sound priciples that i'm sure Steve in-corporated from his FX experience. I'm definately leaning more and more towards a basket way of trading Balls and Wolfie.
BOTH will require a totally different way of using MBTM.
The markets dont often trend that far to hit TP on a daily basis. Its rare nowadays. A year or so ago we had far higher movements with-in the day 100/200 pip movemnets and then back again. Too much ranging these days.
If you follow all the other EA's, you'll see the trend is in that direction. E.G look at BAluda and his slope trader. He has a brilliant version of MPTM for basket trading MPBM, thats far better than my concoction of Steve's MPTM, thats where i'm laying my toys for the next few days/weeks. Going to compare JTH's pair selection and see what kind of correlation will make best sense to minimise risk.
By correlation i mean to address what JBOY has noticed with JTH's basket trading and that you need a good start to keep going otherwise it can be scary. To address this, typical EURUSD as opposed to USDCHF. they tend to move against each other and if you have too many pairs that rely on a buy, or a move in the same direction, thats no good, got to level the field to protect the account. Also taking volatility and spread, into account. I cant comment on JTH's selection, but will get there.
The other issue is getting used to the fact that you WILL have losers, but understanding that you'll have winners on the other side of the pairs and hopefully not setting a target tooo high that the basket cant reach. I'm interested to see how JTH's new 15% target works. Its all trial and error and revision when markets change as they clearly have over the last year. This is where i believe Steve gets his message that he always posts ontop of any EA he introduces. That you can never leave an EA alone and expect it to print the benjamins for you. It needs TLC and correct inputs for whats happening in the marketplace. Understanding Slope and how the EA works as a coder is vital to getting this right.
Will update when i'm more sure what to do and try to make a practical approach, similar to what JTH did with his basket trades, but in a different way, then we can try both out.
sorry again for the long post but have to put this down to remind myself too.
good luck all, and have a great week end.
cuzgeorge
