Maybe somebody knows broker with all 28 pairs?
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DislikedReason for opening trades on all pairs is that you simply won't know in advance what pairs will have the strongest movement.
Sure, USD is the most liquid pair but last week for instance the biggest profit came from AUD/CHF, this week the biggest winner seems te be GBP/CHF.
The edge at the start of the week is that we know what strength of each pair was at that time relative to other pairs. If it works out to be the same the following week that is great, we would have all winners, if it doesn't work out exactly like that there still is a good...Ignored
DislikedHello everybody,
I think the idea of this thread is really very interesting and promising.
I have not tested nor backtested the system but here are some ideas that came to my mind while reading:
1. This system is built on the assumption that strong currencies become stronger during the new week and weaker become weaker. To my mind it is safer to compare the current strength of every currency with its strength one week ago and to trade accordingly. Then we trade to the direction of strength change, which sounds more logical.
2. Trading so many...Ignored
DislikedHi Indrek,
Glad to see you here. Referring to point 4, my intention is to continue using FB´s calculator from ForexPeaceArmy website but, if after a while, this system is still profitable and one day you wake up and ForexPeaceArmy is no longer available, then....what ? Stop trading?
I´m just trying to find an indicator completely independent to always be available.....Ignored
DislikedHi,
I have put the indicator on a Weekly chart with these settings:
- TimeFrame: 0
- StrenghtBase: 60 (60 weeks)
- RecentCHBase: 10 (10 weeks)
RecentCHBase shows me a similar list to "ForexPeaceArmy" Calculator but yesterday, StrenghtBase histogram had for me the better results.......
Early days.....Ignored
Dislikedhey FB, on your screenshots on first page I noticed that your pairs were stacked with losers on top and winners on bottom. how do you get them arranged like that. or maybe someone else could answer that for me. I've tried to do it but cant seem to figure it out. it makes it so much easier to see which ones to cut back on when thier stacked like that. thanks,
JamesIgnored
DislikedYou can't have trading stratgey without MM IMO. As far as I know most of the great traders are trend traders, this is a trend trading stratgey. It looks good. I would like to know how you know when to take profit and where or how many pips away your stoploss point is.
Many thanksIgnored
DislikedI wonder what the effect would be of using the 10 week values for the analysis but only taking trades if the 1 week confirms
Will try this out in demo next week, I will report my results
The only problem with multi-currency basket strategies is that it is almost impossible to back testIgnored
DislikedHi,
For now, my demo is going like this. Account up 31.85% (since Tuesday), max DD... I don´t remember, I think only initial spread, 26 trades, 11 in loss (2 closed), 15 in profit.
These results are with ForexPeaceArmy Calculator, using StrenghMeter indicator, I would have:
- Using 10 weeks: 26 trades, 9 in loss, 17 in profit.
- Using 60 weeks: 26 trades, 4 in loss, 22 in profit (yes, only 4 in loss).
Early days, but amazing results.Ignored
DislikedI discovered this thread late last night.
I like your idea. After all 10 weeks is quite a lagging indicator.
Also what if the chf crosses that have been giving lots of pips were not trending. I think that needs to be checked as to how the rest of the basket was doing. Although one pair can influence others.
Some concern about no SL but will keep an open mind.
And yes... what if Forex Army decides to stop using their calculator. There should be some way to reverse engineer it. Otherwise this is trading using a Black Box.Ignored
DislikedHello!Can you give me the settings of StrenghMeter indicator???
And how you will use it?Ignored