Basket Trading EA
Another crazy system : Basket Trading EA (semi automated trading) designed by Seller9 inspired by T101 Basket Trading System.
It creates an offline chart with selected pairs. It can be pairs linked by correlation, by a currency, by strenght, by strenght/weak currencies, by trend direction, etc... there is an infinite way to trade it.
One of the member is making a killing in live, making thousands of pips per week, it is Smknyc. Unfortunately he doesn't want to share clearly his way to trade, he just gives some pieces of the puzzle to let you decrypt it, that's all.
It seems that almost nobody has yet been able to understand exactly how he selects the pairs.
What I have found :
1. Core / Cross split.
At close of New York Session.
We have Core pairs :
Major pairs : EURUSD, GBPUSD, USDCHF, USDJPY.
Commodity pairs : AUDUSD (gold), NZDUSD (oil & AUD) USDCAD (oil)
We have Cross pairs :
AUD : GBPAUD, AUDCHF, AUDJPY, EURAUD, AUDNZD, AUDCAD
CAD : GBPCAD, CADCHF, CADJPY, AUDCAD, NZDCAD, EURCAD
CHF : GBPCHF, EURCHF, CHFJPY, AUDCHF, NZDCHF, CADCHF
EUR : EURGBP, EURCHF, EURJPY, EURAUD, EURNZD, EURCAD
GBP : EURGBP, GBPCHF, GBPJPY, GBPAUD, GBPNZD, GBPCAD
JPY : GBPJPY, CHFJPY, EURJPY, AUDJPY, NZDJPY, CADJPY
NZD : GBPNZD, NZDCHF, NZDJPY, AUDNZD, EURNZD, NZDCAD
We do a Core / Cross split, getting two baskets.
Here is the main interrogation, how to split the pairs [Core pairs, then Cross pairs] ?
It would be by inverse correlation. But it doesn't match with his selection when we do it.
We compare two core pairs by watching the result pair, for example EURUSD and USDCAD > EURCAD. If EURCAD goes in the same direction than USDCAD, we put EURUSD and USDCAD on different basket ? and we put EURCAD with USDCAD ?
Do we take into consideration trendlines on H1 ? it doesn't seem.
Do we take into consideration trend direction depending on higher timeframes (W1, D1, H4) ? it doesn't seem.
Do we sort them by accumulation/distribution, range/trending ?
2. Tweak 1.
We tweak the basket during Asia session, depending on news to come, fundamentals, technicals.
3. Tweak 2.
We tweak the basket again, 60 minute before the open of London session. Because same pairs can change direction or go into a range during Asia session.
4. Cherry pick.
We select few pairs among the basket pairs, depending on their weight, their liquidity, their spreads.
With the cherry pick of the first basket, we create a first offline chart. With the cherry pick of the second basket, we create a second offline chart.
5. Offline chart.
- open UY M1, apply the #black template.
- attach the expert "Basket_Writer_v7", set the basket name.
- select the wanted pairs on the right table.
- click on "write basket file".
- open UY M1,
- attach "Basket_Create_v3_670et", set "BasketNameToCreate" and the correct "Import_Pair_List_Name".
- file > open offline > select the correct chart.
- attach BT_14_v27, set MagicNumber, set TradeComment.
6. Entry.
We set pending orders before open of London session, marking high and low of New York close.
We can also scale the entry, by incrementing the orders.
7. Exit.
All trades closed at the end of the London session or before. When daily target in dollars or pips reached.
Depending also on point of interest, targets based on price action (last swing top/bottom, support and resistance), as the stops.
We can also scale the exit, by partially close the trades, use a breakeven for the rest of the orders and let the profits run.
Other informations :
If we trade currency basket, we look first the respective core pair.
Forex session GMT :
Tokyo : 0 AM - 9 AM
London : 8 AM - 5 PM
New York : 1 PM - 10 PM
If you find how, let us know.
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