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Shelley's multi-pair basket trader
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=583		 Page 48 of 87
Author:  Armen [ Thu May 31, 2012 1:14 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
Nevertheless, running Shelley on touch of top band during DT will minimize risk.
Therefore, we can have tight SL - slightly above WS1 in this case.
Author:  quanttraderjoe [ Thu May 31, 2012 1:21 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
Jemook wrote:Cheers Joe.

I'm not really looking at the TMA Slope to see if the pair has retraced enough. I'm looking at the TMA Outer Bands on the 1h:

EG; for a short:
when price reaches the opposite (upper) TMA band on 1h and the higher TF is showing a strong trend it's time to kick Shelley into action. It should be doing this across most of the pairs that Shelley wants to trade too.

Also I like looking at the range of the 1H TMA bands (top to bottom) to know how much to target for each currency. Ie; right now there's ~100 pips range for 1H TMA in AUDUSD so I can set my TP to the AUDUSD to ~80 pips and should be golden as I expect it to go from top of TMA to bottom of TMA.

So check this out:

Calculate the TMA range for EACH currency pair Shelley wants to trigger and add them up. Then divide that by the # of pairs she wants to trigger and it should give you the approx #pips to target for AdaptivePipsTakeProfit :D
Jemook,

yes that is brilliant! using TMA BAND on h1 would be a superb way of ensuring a safe entry....so is there a way to program the ea such that we enter the basket when price crosses the middle TMA band? or any other way to automate this TMA band basket trigger method?
Author:  spotdespot [ Thu May 31, 2012 1:23 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
Armen wrote:Nevertheless, running Shelley on touch of top band during DT will minimize risk.
Therefore, we can have tight SL - slightly above WS1 in this case.
Not sure how you have a SL in a basket of trades above a specific level?

I do take your point though about this being a good concept - I already wrote earlier to that effect. Personally I think searching for tighter stop losses will cost you more in the long run. Reducing risk is a great idea - and getting the entry right does that. Not necessarily in the traditional x% at risk sense but in the "giving us a bigger edge" sense.
Author:  cytek [ Thu May 31, 2012 1:24 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
Armen wrote:
Hi Cytek. Already closed on 254 points. Was a bit nervous.
On the previous page Jemook has detailed description on when to start Shelley in time of replacement.
Phew! Well played :)
Thanks - will check Jemook's post now. I usually use a touch of the upper BB on H1, but will check what he says as he's mastered NB 10.2 system to the T.
Author:  Caillou [ Thu May 31, 2012 1:27 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
spotdespot wrote:
Armen wrote:Nevertheless, running Shelley on touch of top band during DT will minimize risk.
Therefore, we can have tight SL - slightly above WS1 in this case.
Not sure how you have a SL in a basket of trades above a specific level?

I do take your point though about this being a good concept - I already wrote earlier to that effect. Personally I think searching for tighter stop losses will cost you more in the long run. Reducing risk is a great idea - and getting the entry right does that. Not necessarily in the traditional x% at risk sense but in the "giving us a bigger edge" sense.
Yes, another easy day after a really comfortable DD. Jemook idea is great but I think too that the SL (in case you are using one) must not be small........
Author:  cytek [ Thu May 31, 2012 1:28 pm ]
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.
Couldn't have said it better - I learnt this trick from you earlier in the NB thread on FF :)
Tx Mate.
Author:  mackaozy [ Thu May 31, 2012 1:58 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
Just closed out at 230 pips again for the day..simples...!! :D :D :D

Started 0800 at London open again.. same as every day this week.. :D :D :D
Author:  quanttraderjoe [ Thu May 31, 2012 2:07 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
hello mackaozy,

can u pls share your settings for adaptive tp, adapt sl, adap breakeven? your myfxbook looks bloody good! do u set it for tokyo, london n newyork open? pls share your set file.

i set mine at adapt tp 20, adapt sl 20 n adapt be 10 but results r not too good.
thanks man!
Author:  cytek [ Thu May 31, 2012 2:08 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
mackaozy wrote:Just closed out at 230 pips again for the day..simples...!! :D :D :D

Started 0800 at London open again.. same as every day this week.. :D :D :D
Nice! :D USD kicked a** after than PMI data came out :) Glad everyone had a +day, notwithstanding the -DD at the beginning of the day.
Author:  phil_trade [ Thu May 31, 2012 2:11 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
Hi all

today is a good day... why only demo ! :lol:

Tokyo + London = +1000 pips and 240 secured

that's nice... even if market is quit "easy"
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