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Shelley's multi-pair basket trader
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Author:  Jemook [ Thu May 31, 2012 9:57 am ]
Post subject:  Re: Shelley's multi-pair basket trader
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.
Author:  Zypip [ Thu May 31, 2012 10:02 am ]
Post subject:  Re: Shelley's multi-pair basket trader
Armen wrote:NBob system itself is fantastic. But as Steve mentioned couple of posts ago no EA can have the excellence of the system. I believe our goal in this stage is to explore and test the EA so we can get closer and familiar look to it. Knowing pros and cons of Shelley will allow us apply it properly.
Respectfully disagree Armen. We know the weakness of this very sound system. That is retracement within a "slope >0.8 + woh >0" (for longs) period or "slope < -0.8 + woh <0" (for shorts) period.

There are probably some ways to overcome this issue but they haven't been explored yet because original Shelley's EA has worked like a charm so far.

Just my humble take ;) . Anyway, nice dashboard Armen. Thanks for that :D
Author:  Zypip [ Thu May 31, 2012 10:06 am ]
Post subject:  Re: Shelley's multi-pair basket trader
Jemook wrote: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.
That is interesting. May I ask why you selected the 1H TF and not the 4H? :) If one addition to the EA should be made I think that it should be something down that line.
Author:  Jemook [ Thu May 31, 2012 10:14 am ]
Post subject:  Re: Shelley's multi-pair basket trader
Zypip wrote:
Jemook wrote: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.
That is interesting. May I ask why you selected the 1H TF and not the 4H? :) If one addition to the EA should be made I think that it should be something down that line.
NB system doesn't show the TMA for 4h. Also we are looking for intraday profits with Shelley not longer term like NB 10.2 which uses 4h+Daily. As you mentioned this EA works great until there is a retracement. So maybe have a look at entering trades off the outer TMA in the direction of trend.
Author:  SWG123 [ Thu May 31, 2012 10:18 am ]
Post subject:  Re: Shelley's multi-pair basket trader
Armen wrote:Don't expect much for today so I will let Shelley run till NFP release tomorrow taking into account today's ADP employment change (expecting surprise on this)
How can you expect a surprise? :D
Author:  Jemook [ Thu May 31, 2012 10:20 am ]
Post subject:  Re: Shelley's multi-pair basket trader
SWG123 wrote:
Armen wrote:Don't expect much for today so I will let Shelley run till NFP release tomorrow taking into account today's ADP employment change (expecting surprise on this)
How can you expect a surprise? :D
LOL ;)
Author:  Caillou [ Thu May 31, 2012 10:23 am ]
Post subject:  Re: Shelley's multi-pair basket trader
Jemook wrote:
Zypip wrote:
Jemook wrote: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.
That is interesting. May I ask why you selected the 1H TF and not the 4H? :) If one addition to the EA should be made I think that it should be something down that line.
NB system doesn't show the TMA for 4h. Also we are looking for intraday profits with Shelley not longer term like NB 10.2 which uses 4h+Daily. As you mentioned this EA works great until there is a retracement. So maybe have a look at entering trades off the outer TMA in the direction of trend.
Absolutely agree but if there is no retracement, you will miss a lot of runs. So we wait for a retracement as you said before taking a trade or we manage this retracement as a DD..........
Author:  Jemook [ Thu May 31, 2012 10:31 am ]
Post subject:  Re: Shelley's multi-pair basket trader
At the same time, It can also be better to wait like a silent hunter for the perfect shot. My stop of 400 pips almost got hit tonight entering at London open. If i had waited til now to enter I'd be up ~150 pips.

For sure you might miss some big moves but I'm going to keep an eye out on the 1hr TMA to see if there's a correlation between over-extended price and better entries with Shelley. I have a feeling it will prove to be worthwhile
Author:  SteveHopwood [ Thu May 31, 2012 10:48 am ]
Post subject:  Re: Shelley's multi-pair basket trader
Jemook wrote:At the same time, It can also be better to wait like a silent hunter for the perfect shot. My stop of 400 pips almost got hit tonight entering at London open. If i had waited til now to enter I'd be up ~150 pips.

For sure you might miss some big moves but I'm going to keep an eye out on the 1hr TMA to see if there's a correlation between over-extended price and better entries with Shelley. I have a feeling it will prove to be worthwhile
If you come to firm conclusions, then I can add the filter. Take your time; I do not see interest in this waning any time soon.

V 1n is in post 1, adopting David's excellent idea of a 'keep alive' time. KeepAliveHours closes a trade if it is still open. Set this to zero to disable the function. This function is also governed by OnlyCloseProfitableBasket.
Author:  spotdespot [ Thu May 31, 2012 11:01 am ]
Post subject:  Re: Shelley's multi-pair basket trader
Jemook wrote:At the same time, It can also be better to wait like a silent hunter for the perfect shot. My stop of 400 pips almost got hit tonight entering at London open. If i had waited til now to enter I'd be up ~150 pips.

For sure you might miss some big moves but I'm going to keep an eye out on the 1hr TMA to see if there's a correlation between over-extended price and better entries with Shelley. I have a feeling it will prove to be worthwhile
I think this and your previous post re. H1 TMA boundaries being hit before firing are excellent contributions - thank you Jemook. I will be keeping an eye out and trying this too.

Cheers,
Dave.
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