Before you run the EAs, read my FAQ: http://www.forexfactory.com/showthread.php?t=252690
Read http://www.forexfactory.com/showthread.php?t=251869
to get an idea of what this kind of strategy is all about.
This strategy intentionally trims the biggest loser and opens an opposite-direction trade on the same pair whenever at least three losing pairs have breached their 24-hour high/low.
The way this is done is quite restrained, such that overtrimming is avoided. We want to do just enough trimming that we allow the same market action that triggered the trimming to take us to profit.
So do not be alarmed when the first actions taken by the EA make your balance shrink. If you are patient, a rise in equity will occur and all trades will be closed for profit.
There are old-school elements to this strategy, such as diversification (14 pairs), cut your losses early (cut the BIGGEST loser when market action makes it a logical decision), and let your winners run (until you come into profit).
Basket_14 was developed before Confirm_14. Basket_14 uses less specific criteria in looking for confirmation. It looks for a total of 3 currency pairs among the 14 to be breaching their 24-hour highs/lows before trimming and reversing a biggest loser.
Attach to only one chart, any symbol, any timeframe. Don't worry about opening other charts. You only need to open ONE.
Version 02 does not have the MinMiniEquity and MinStdEquity settings.
Version 03 uses two seven-pair relative vigor index (RVI) indicators to try to increase the frequency with which we get to profit without trimming and reversing.
Version 04 looks for five samples of RVI main to be above/below zero, cleanly separated across the two groups of seven pairs, to decide which group to buy/sell.
Version 05 has buy/sell logic based on RVI main/signal crosses above/below zero
Settings for Various Leverage Levels
Leave the settings as-is for a 200:1 leverage account.
Set MaxMarginToUse to 2.0 for a 100:1 leverage account and leave ProfitPct at 1.0.
Set MaxMarginToUse to 3.0 and ProfitPct to 0.3 for a 10:1 leverage account. This may seem risky but most of us will want to push risk if we get restricted to 10:1 accounts. Even with this risk level, you shouldn't see Lowest Margin drop much below 200%.
For my 50:1 demo, I am using MaxMarginToUse at 3.0 and ProfitPct at 0.75. So far it's working fine.
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Read http://www.forexfactory.com/showthread.php?t=251869
to get an idea of what this kind of strategy is all about.
This strategy intentionally trims the biggest loser and opens an opposite-direction trade on the same pair whenever at least three losing pairs have breached their 24-hour high/low.
The way this is done is quite restrained, such that overtrimming is avoided. We want to do just enough trimming that we allow the same market action that triggered the trimming to take us to profit.
So do not be alarmed when the first actions taken by the EA make your balance shrink. If you are patient, a rise in equity will occur and all trades will be closed for profit.
There are old-school elements to this strategy, such as diversification (14 pairs), cut your losses early (cut the BIGGEST loser when market action makes it a logical decision), and let your winners run (until you come into profit).
Basket_14 was developed before Confirm_14. Basket_14 uses less specific criteria in looking for confirmation. It looks for a total of 3 currency pairs among the 14 to be breaching their 24-hour highs/lows before trimming and reversing a biggest loser.
Attach to only one chart, any symbol, any timeframe. Don't worry about opening other charts. You only need to open ONE.
Version 02 does not have the MinMiniEquity and MinStdEquity settings.
Version 03 uses two seven-pair relative vigor index (RVI) indicators to try to increase the frequency with which we get to profit without trimming and reversing.
Version 04 looks for five samples of RVI main to be above/below zero, cleanly separated across the two groups of seven pairs, to decide which group to buy/sell.
Version 05 has buy/sell logic based on RVI main/signal crosses above/below zero
Settings for Various Leverage Levels
Leave the settings as-is for a 200:1 leverage account.
Set MaxMarginToUse to 2.0 for a 100:1 leverage account and leave ProfitPct at 1.0.
Set MaxMarginToUse to 3.0 and ProfitPct to 0.3 for a 10:1 leverage account. This may seem risky but most of us will want to push risk if we get restricted to 10:1 accounts. Even with this risk level, you shouldn't see Lowest Margin drop much below 200%.
For my 50:1 demo, I am using MaxMarginToUse at 3.0 and ProfitPct at 0.75. So far it's working fine.
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Attached File(s)
Basket14_01.mq4
35 KB
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2,544 downloads
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Uploaded Aug 26, 2010 12:50pm
Basket14_02.mq4
35 KB
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1,716 downloads
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Uploaded Aug 26, 2010 12:50pm
Basket14_03.mq4
41 KB
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1,795 downloads
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Uploaded Aug 27, 2010 5:04pm
Basket14_04.mq4
47 KB
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1,680 downloads
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Uploaded Sep 8, 2010 6:33pm
Basket14_05.mq4
44 KB
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2,736 downloads
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Uploaded Sep 9, 2010 4:58pm
Basket14_Add_01.mq4
37 KB
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1,988 downloads
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Uploaded Sep 9, 2010 7:50pm
Oneway14_02.mq4
44 KB
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2,171 downloads
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Uploaded Sep 13, 2010 11:50am
Open to new approaches.