I was thinking 20% draw down for 30% profit I think it would be workable
I have swapped audusd for eurjpy
I figured eurgbp as wildcard since other pairs are closely correlated.
Also, when you say 30%, what is the lot size that you are trading? Obviously, 30% of $5k is different than $1k.. what is the lot size that you are trading when you target 30%? I am trying to find the money management for this system. Hard to balance the basket.
Last edited by 4x4me; 09-03-2010 at 15:58. Reason: typo
There is no way I would go for 30% each trade. If we're just talking lot sizes here, we could crank it up to 11 on any EA and go for 30% but we'd be wiped out before the month was out.
So the total for this week stands at 1 4H trade for 4%. I think James got none. How did everyone else do?
How about those who were on 1H?
I think next week Im going to run 1H for 1%. I'll keep the original pairs because I think madscalp has thought hard about the suitablility of these and he seems to understand this EA very well.
Now, another system that i am trading, (it's basket like this one), but I choose my direction by "Multi pair Dashboard" indicator on 1 hr. i've made very good profit. I have been trading this 'basket' on/off for several years and was not able to get a good indicator for entry settings. After I've found Multi pair Dashboard, I thought it could be a good tool to use with Basket trading. Since Appaloosa system has its own indicator to find the direction, I couldn't use Appaloosa system to test this, so I've used other EA that I had and results are day and night. If anyone would like to test, I am attaching the indicator here, so that you guys can test it out. Note: If your broker uses post fix (i.e. EURUSDpro), you'll need to change it in the code.
Funyoo, is it possible to incorporate this indicator to find its direction for Appaloosa EA please?
Last edited by 4x4me; 09-03-2010 at 22:04.
Thanks for sharing 4x4. I know someone will probably ask for a new thread etc for an EA based on this indicator, but it would be interesting to have it as an option for use with Appaloosa. Do you mind saying which EA you incorporated it into to get much better results?
Unfortunately one of my live EAs thought it was a good idea to sell this Friday afternoon as well when I wasn't looking. Sneaky. I hate waiting until the weekend is over to see how much money I get to lose....
On this basket trading, i have an EA (not the EA that we are using here) that I entered manually (I mean, manually set your direction for each pairs) and I did it that way by this indicator. i target 2% per trade cycle and total netting over 20+% today. I am not looking to make 20% daily, but if market give me a chance, it sure is nice. Because, I know for some days, it will be much less and sometime, we'll be sitting on drawdown, I am sure.
Market is closed, so some of you may not be able to see what multi-dash looks like, so I upload indicator image.
Last edited by 4x4me; 09-03-2010 at 22:44.
Suddenly have a thought.. Does the correlated pairs actually help the system or actually slows down the system to take profit. Notice pass trades it's the opposite pairs that actually slows the profit taking time?
Last edited by jamestan1978; 09-04-2010 at 09:57.