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Shelley's multi-pair basket trader
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Author:  spotdespot [ Thu May 24, 2012 9:36 am ]
Post subject:  Re: Shelley's multi-pair basket trader
Jemook wrote:I'd also like a pips loss stopout .. So when the basket hits -x pips it closes all trades. That way if we are making 400 pips target 5 days in a row and then get a 400 pip stopout we are still up. Just some more protection in case things go south.

Shelley what made you decide to trade NB's system like this?
Isn't this already there as basket PipStopLoss?? Or am I not understanding what you are looking for?
Author:  quanttraderjoe [ Thu May 24, 2012 9:39 am ]
Post subject:  Re: Shelley's multi-pair basket trader
hello fxozgirl,

first off, i think your idea of basket trading off the 0.8 on d1 slope is brilliant! this ea would have saved me some coin when my other eas got creamed with the strong trend.
but when we introduce the weekly histogram, it appears on the charts that the entry would be taken much later in the trend rite? since almost without exception, price trends strongly when we get the 0.8 on the daily chart. not using the weekly histogram would get us in much earlier rite?

would appreciate your thoughts on this. thanks!
Author:  spotdespot [ Thu May 24, 2012 9:41 am ]
Post subject:  Re: Shelley's multi-pair basket trader
SteveHopwood wrote:
spotdespot wrote:Just an idea - wouldn't it be useful to use a basket PIP breakeven feature? Obviously couldn't be any hard stops. So for example basket makes 200 pips, basket SL set to +20 pips or whatever?

Apologies if this can already be done with MPTM but it doesn't look like it to me and it seems like it would be a pretty good idea for this strategy to avoid issues of setting the EA running then seeing a significant retrace?
This is not part of mptm.

Dead easy to add here, though. You guys thrash out what you want and I will add the code when I return.

:D
Great stuff.

If people like this idea please support it. If not then please also say so and why not.

I think it is a really good idea (well I would :lol: ) as the 25/5 BE that Shelley is using is for each individual trade, so we would still have a basket SL of 400 pips or whatever you set it to. You could go to +200 pips for the basket, then with a retracement hit BE (+5) on the pairs that made it to +25 and STILL go to the -400 pips SL. This change would avoid that situation I believe.
Author:  fxozgirl [ Thu May 24, 2012 10:15 am ]
Post subject:  Re: Shelley's multi-pair basket trader
spotdespot wrote:Just an idea - wouldn't it be useful to use a basket PIP breakeven feature? Obviously couldn't be any hard stops. So for example basket makes 200 pips, basket SL set to +20 pips or whatever?

Apologies if this can already be done with MPTM but it doesn't look like it to me and it seems like it would be a pretty good idea for this strategy to avoid issues of setting the EA running then seeing a significant retrace?

I like the idea of this as well :D
Author:  fxozgirl [ Thu May 24, 2012 10:35 am ]
Post subject:  Re: Shelley's multi-pair basket trader
Jemook wrote:
Shelley what made you decide to trade NB's system like this?

Pretty much accident to start with...
I get home from work just before London open, and was just setting everything up the first day, and wanted to test out the slope indicator, so threw a few trades on without giving it much thought (based on buying/selling under/over 0.8) ...more just to watch how price and the indicators interacted with each other.

After a few hours profit was up over 400 pips and I was trying to figure out what trades I should look to close, do I use JS etc, etc...in the end it was too hard trying to make a decision on each pair, what I should close, what I should let run and decided 400 pips was excellent for one day and decided to close all trades. Figuring it was a fluke, I tried it the next night at the same time, same trading criteria, and same thing happened, so I set up mptm with the global closure & BE 25/5, but then changed to D1 charts as the trend & signal is more established.

The rest you have seen.

I have used Global closures before when trading in baskets and have found it to be an excellent method to gain consistent profits, especially as I prefer to trade smaller lot sizes and spread the risk across multiple pairs.
I know a lot of people may say that I have left pips on the table and I agree, however I am satisfied to take 400 pips at a time ;)
Author:  Jemook [ Thu May 24, 2012 10:42 am ]
Post subject:  Re: Shelley's multi-pair basket trader
Great read, thanks. So now that you know it works for 400 pips at a time you can look to fine tune it with jumping/trailing stops etc. I'm sure there's someone that knows how to use a strategy tester with the EA to backtest using different stop types or take profit settings.

But at 400 pips a session, do you really need to?! :D
Author:  fxozgirl [ Thu May 24, 2012 11:21 am ]
Post subject:  Re: Shelley's multi-pair basket trader
Jemook wrote:Great read, thanks. So now that you know it works for 400 pips at a time you can look to fine tune it with jumping/trailing stops etc. I'm sure there's someone that knows how to use a strategy tester with the EA to backtest using different stop types or take profit settings.

But at 400 pips a session, do you really need to?! :D
That's right...now it's time to start learning & watching closely.
I think taking trades at London open is a key learning coming out of this,

also as markets start to range and the slope starts to change, and less trades taken, that may also affect what level I set the global closure.
Author:  SteveHopwood [ Thu May 24, 2012 11:52 am ]
Post subject:  Re: Shelley's multi-pair basket trader
A small plumbing emergency has delayed my trip, so V 1d is in post 1.

I have added a basket pips breakeven and breakeven profit, defautling to 200/20. The inputs are in the Take profit and stop loss section. For now, the breakeven achieved status is removed following a platform restart, but I can solve that with a Global Variable later.

Using mptm 25/10 on this morning's basket has seen the trades gradually closing at be, so there is no chance of a decent global pips profit. It looks as though an adaptive basket tp is the way to go; x pips per trade open, so the tp can expand and shrink accordingly.

:D
Author:  spotdespot [ Thu May 24, 2012 12:11 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
SteveHopwood wrote:A small plumbing emergency has delayed my trip, so V 1d is in post 1.

I have added a basket pips breakeven and breakeven profit, defautling to 200/20. The inputs are in the Take profit and stop loss section. For now, the breakeven achieved status is removed following a platform restart, but I can solve that with a Global Variable later.

Using mptm 25/10 on this morning's basket has seen the trades gradually closing at be, so there is no chance of a decent global pips profit. It looks as though an adaptive basket tp is the way to go; x pips per trade open, so the tp can expand and shrink accordingly.

:D
Sorry for your delay.....well actually..... :twisted: :twisted:

Great addition - thanks.

The adaptive basket tp makes sense - perhaps everyone can monitor the average number of pairs that are >0.8 <-0.8 (traded pairs) where 400pip TP is hit? We can then start with that?
Author:  SteveHopwood [ Thu May 24, 2012 12:24 pm ]
Post subject:  Re: Shelley's multi-pair basket trader
spotdespot wrote:
SteveHopwood wrote:A small plumbing emergency has delayed my trip, so V 1d is in post 1.

I have added a basket pips breakeven and breakeven profit, defautling to 200/20. The inputs are in the Take profit and stop loss section. For now, the breakeven achieved status is removed following a platform restart, but I can solve that with a Global Variable later.

Using mptm 25/10 on this morning's basket has seen the trades gradually closing at be, so there is no chance of a decent global pips profit. It looks as though an adaptive basket tp is the way to go; x pips per trade open, so the tp can expand and shrink accordingly.

:D
Sorry for your delay.....well actually..... :twisted: :twisted:

Great addition - thanks.

The adaptive basket tp makes sense - perhaps everyone can monitor the average number of pairs that are >0.8 <-0.8 (traded pairs) where 400pip TP is hit? We can then start with that?
Waaaaaayyyyyy ahead of you.

Still awaiting the plumber, so V 1e is in post 1.

AdaptivePipsTakeProfit is multiplied by the number of open trades to arrive at a pips tp for the entire basket. Eventually, I will extend this to the cash take profit.

Plumber arrived half-way through me typing that last para, so he is off to get a new intake valve for the loo, to stop it overflowing and flooding out through the overflow. Pity in a way; it is red-hot here today and the birds were loving it. :lol: The P is just off to get the relevant bit and will be back soon, which means I can go soon.

Thinking about it, I have a few hours yet. For those of you who know UK geography, my journey down to Somerset takes me around the Birmingham box. If I leave here at about 2/00 pm, I will hit the box just as it gridlocks for the evening rush. I may as well leave later, as I will not arrive any later. This means I have a few hours to add a few more bells and whistles here.

So, if you want to hang on for a while, the next update is coming soon.

:D
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