stevehopwoodforex.com • Shelley's multi-pair basket trader

Author:

vivaldi [ Wed May 30, 2012 9:36 pm ]

Post subject:

Re: Shelley's multi-pair basket trader

I am working on an indicator that shows the combined supercurrency, as the sum of a number of other currencies. Once we have a chart, it will be much easier to find bottoms and tops for entrance or exit.
The problem is however, that you cannot just add prices. Instead, you must calculate pip differences (between the current price and the openprice) per pair and then add these differences. This gives an impression how the basket runs.

I have a rudimentary version at the moment and it has been tested for 2 currencies, but must be able to serve 24 currencies.. What it does basically is : It calculates per candle : (the sum of all pips won and lost) and shows this in a separate window as a new chart.
Anybody interested to test it ? people must be able to edit and compile the indicator.

It works as follows : Suppose you have started Shelley and now you have a number of open positions.
You then check which currencies that are and for each currency , you have to edit a boolean array in "Disp_SuperCur". Every valid currency gets a '1' in place. You must then recompile the indi and re-attach it to a chart.
Subsequently , the indicator searches the open orders list and compares the current price with the openingsprice of the currency. it then calculates the difference as stated above and makes the chart.

Vivaldi

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Author:	garyfritz [ Wed May 30, 2012 6:39 pm ]
Post subject:	Re: Shelley's multi-pair basket trader
Is that how you should stack? I thought Bob stacked when you pull back across the blue line, or something like that, so you buy at a lower-risk entry. Gotta read the booklets again...

Author:	getting [ Wed May 30, 2012 6:54 pm ]
Post subject:	Re: Shelley's multi-pair basket trader
adaptiveTP is 4 http://tinyurl.com/799lfst http://i49.tinypic.com/246wdug.png http://i45.tinypic.com/svj2qe.png It would be awesome if someone could hook up Shelley to FFCal; to BasketSend during medium and high impact news releases, x minutes(0 meaning no delay) delay from release time before sending basket might also be useful. Option to Only BasketSend if there are no active opened position also useful. Basically this method would override BasketSendHour & BasketSendMinute, and rely only on news release from FFCal.

Author:	cytek [ Wed May 30, 2012 8:03 pm ]
Post subject:	Re: Shelley's multi-pair basket trader
Caillou wrote: If Selley EA is closing baskets in profit no matter when you put it on the chart with the same pairs and the same order types (Sell EUR and GBP, Buy USD)..........sure the market is trending. I reckon tomorrow will be really interesting after a 160+ pip drop on the big pairs. I reckon the chance of large retracements increase, and as SWG mentioned, one could get caught out on the wrong side of the trend if TMA slope doesnt react fast enough. I reckon this is where I agree with Verb to enter only on retraces or swing-highs, rather than fixed entry at market open times, but its difficult to prove the former in this strong market. Ranging times ahead of us will tell...

Author:	John [ Wed May 30, 2012 8:25 pm ]
Post subject:	Re: Shelley's multi-pair basket trader
How would that work? The EA only takes trades when all criteria is met anyway, according to the indicators... Not sure how you would incorporate news trading, the FFCalc, etc., into this bot at all, without creating a totally new EA... getting wrote:adaptiveTP is 4 http://tinyurl.com/799lfst http://i49.tinypic.com/246wdug.png http://i45.tinypic.com/svj2qe.png It would be awesome if someone could hook up Shelley to FFCal; to BasketSend during medium and high impact news releases, x minutes(0 meaning no delay) delay before sending basket might also be useful. Option to Only BasketSend if there are no active opened position also useful.

Author:	SWG123 [ Wed May 30, 2012 8:39 pm ]
Post subject:	Re: Shelley's multi-pair basket trader
cytek wrote: Caillou wrote: If Selley EA is closing baskets in profit no matter when you put it on the chart with the same pairs and the same order types (Sell EUR and GBP, Buy USD)..........sure the market is trending. I reckon tomorrow will be really interesting after a 160+ pip drop on the big pairs. I reckon the chance of large retracements increase, and as SWG mentioned, one could get caught out on the wrong side of the trend if TMA slope doesnt react fast enough. I reckon this is where I agree with Verb to enter only on retraces or swing-highs, rather than fixed entry at market open times, but its difficult to prove the former in this strong market. Ranging times ahead of us will tell... Also NFP on Friday. As SteveH has said a few times, the impact nowadays isn't as great as previously but with general nervousness (is that a word?) across all markets we might see some slowing of activity until the figure is released. Or not. As for real trading, I'm done for the week.

Author:	Caillou [ Wed May 30, 2012 8:41 pm ]
Post subject:	Re: Shelley's multi-pair basket trader
cytek wrote: Caillou wrote: If Selley EA is closing baskets in profit no matter when you put it on the chart with the same pairs and the same order types (Sell EUR and GBP, Buy USD)..........sure the market is trending. I reckon tomorrow will be really interesting after a 160+ pip drop on the big pairs. I reckon the chance of large retracements increase, and as SWG mentioned, one could get caught out on the wrong side of the trend if TMA slope doesnt react fast enough. I reckon this is where I agree with Verb to enter only on retraces or swing-highs, rather than fixed entry at market open times, but its difficult to prove the former in this strong market. Ranging times ahead of us will tell... Yes, I think we have 3 options: 1.- Try to avoid the reverse: we need a new entry filter. 2.- Try to exit in the reverse: SL at x pips or exit at the end of a session. 3.- Try to recover with the reverse: we need to add positions. Cheers

Author:	SWG123 [ Wed May 30, 2012 9:03 pm ]
Post subject:	Re: Shelley's multi-pair basket trader
cytek wrote:I reckon tomorrow will be really interesting after a 160+ pip drop on the big pairs. I reckon the chance of large retracements increase, and as SWG mentioned, one could get caught out on the wrong side of the trend if TMA slope doesnt react fast enough. I reckon this is where I agree with Verb to enter only on retraces or swing-highs, rather than fixed entry at market open times, but its difficult to prove the former in this strong market. Ranging times ahead of us will tell... Is forex market liquidity on the upturn at last? Too soon to tell I guess, but it has been a long steady downturn and I don't see much risk appetite the way things are. Either way, we can only react to what's in front of us and 10.2 is one of the most effective aids I've seen so far.

Author:	fxozgirl [ Wed May 30, 2012 9:16 pm ]
Post subject:	Re: Shelley's multi-pair basket trader
fxozgirl wrote:I've been a bit busy this week, so haven't had much time to post, but my manual trades finally closed out at 317 pips profit (they were open 3 days, but with minimal drawdown), with a total of 3819 pips since I started trading this system on 8th May. After some messing about with the Shelley EA I finally have it working correctly with 282 pips profit since yesterday. I think there was 4 trades taken yesterday and 6 today. I am using AdaptiveTakeProfitPips = 25 Tonight I have now added the EA to 3 charts and set it up to open just prior to London, New York & Tokyo sessions just for gigs I am also having good success with the regular NB 10.2 EA with 586 pips so far this week. Thanks again to Steve and all the other contributors we are so fortunate to have here. And to Bob....10.2 ROCKS Shelley EA - New York session, all trades closed with 250 pips profit. Total pips London/New York = 431 I have the EA set up for the Tokyo session, but I'm not as confident with this session as the market has to retrace and breathe sometime. I think I will change the AdaptiveTakeProfitPips to 15 for Tokyo session and see what happens. It's all demo anyway NB 10.2 EA has now clocked up 842 pips this week and positive trades open

Author:	SWG123 [ Wed May 30, 2012 9:53 pm ]
Post subject:	Re: Shelley's multi-pair basket trader
vivaldi wrote:I am working on an indicator that shows the combined supercurrency, as the sum of a number of other currencies. Once we have a chart, it will be much easier to find bottoms and tops for entrance or exit. The problem is however, that you cannot just add prices. Instead, you must calculate pip differences per pair and hen add these differences. This gives an impression how the basket runs. I have a rudimentary version at the moment and it has been tested for 2 currencies, but must be able to serve 24 currencies.. What it does basically is : It calculates per candle : (the sum of all pips won and lost) and shows this in a separate window as a new chart. Anybody interested to test it ? people must be able to edit and compile the indicator. Vivaldi Sure, count me in.

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