Basket Trading System (T101 system) - page 10
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But the problem is I don't know how much the profit every +1 pips for each pairs if we trade 1 Lot..
Can you or anybody give me the list or show me where I can get them?
There are various sites which give these values, FXStreet has a calculator (although god only knows if the prices are correct, they do seam a little out of date LOL).
http://www.fxstreet.com/forex-tools/pip-value-calculator/
The following link gives a good explanation of how you can work these out for yourself, along with some examples.
An Example of a Forex Trade - Pip - Profit & Loss - Lot - Long & Short FOREX
I'm not 100% convinced you need to do this to follow this method. If you think its necessary to adjust for pip value, then you'll probably want to adjust for volatility too, then adjust for variations in long v short term correlation, and a million and one other things, and at the end of it, you'll just have a bunch of currencies in a list changing position as the market moves, which is exactly what you already have !
I must admit, when I first saw Julius's post on this method my initial reaction was to think about how to normalise the list, but on reflection I'm not entirely sure its possible, or even necessary. Its like measuring in inches, or millimetres, or some other bizarre unit of length you wish to invent, they all do the same thing if applied consistantly.
T101 Dashboard
Can someone publish T101_Dashboard, pls?
Here you go.
http://www.forexfactory.com/attachment.php?attachmentid=157522&d=1224006249
I don't know if zznbrm updated it since then, and I can't ask him because I don't have an account over there (sure, I could open one, but so could you, couldn't you?
).
I've just finish reading the 2048 posts on the other forum, taking notes, sorting out infos, and classifying all the indies, EAs and everything. Now it will take some time to digest it, but so far it looks promising.
FYI the thread to indicator's development actually is there:
Indicators development for T101's not very simple method.
Sir julius! If you don't mind, can you explain more about bias on anchor and basket please. Because i think its must be watched too. i guess. or its not necessary to looking at them
4051,
the Bias is the summation of the values of Buys and the Sells. If the bias is negative meaning the bottom pairs are stronger than the top pairs if it is positive then the top pairs are stronger than the bottom pairs. For positive bias you are likely to trade the direction of the top pairs, and negative bias the direction of the bottom pairs. Bias is being watch closely to avoid jumping to trade because one currency is rallying. Remember we always look them as a team of RED and BLUE. and we always bet on the stronger team. We dont bet on a certain star player of the team.
Julius
Profit calculation in MQL
Yeah But not all Pairs $10 per 1 pip.. for example EURGBP, GBPJPY, etc... That's the problem... profit per 1 pip for All Pairs you mentioned for your basket method..
You can calculate profit in pips or in deposit money inside your EA.
Buy_Profit_in_Pips = (Bid - OrderOpenPrice())/Point;
Buy_Profit_in_$ = (Bid - OrderOpenPrice())*OrderLots()*TickValue/TickSize;
Sell_Profit_in_Pips = (OrderOpenPrice()-Ask)/Point;
Sell_Profit_in_$ = (OrderOpenPrice()-Ask)*OrderLots()*TickValue/TickSize;
And as you work for multi currencies, you should use the MarketInfo() function to get the proper value for each pair.
You should have a look at the mql documentation to grasp the whole thing:
MarketInfo - MQL4 Documentation
Hope this help.
Correct me if I'm wrong...
Hi guys,
Couldn't we apply the following article by FerruFX here?
https://www.mql5.com/en/forum/177085
Hi guys,
Couldn't we apply the following article by FerruFX here?
https://www.mql5.com/en/forum/177085Sorry,
I dont think so.
Thanks PipScorer
Methodolgy is quite similar to each other, which led to my conclusions about using !xmeter. Also when comparing trades using your method and FerruFx's they are almost the same.
I'll re-read both threads again... I've obviously missed something.
If you use Orest Indic its ok, but for me being old fashioned i still maintain the hard way of putting my IA week after week. But it is all entirely to the trader.
Pipscorer,
it looks like if you start IA at different times you will get different orders in the list and then different trades. For instance I tried with the dashboard, and when I restarted the platform 15 min after closing it the order was completely different even for the past values.
I understand that you restart every week. Is it so that basically you will restart during the weekend, making then the assumption that there is an equilibrium point at the weekend.
Pair Correlation
Hi Julius, I'd like to understand how to trade these correlated pairs when they are close together. I understand EU & UCHF and made money on it.
GU & GJ = if at the top of basket, SELL GU and BUY GJ.
AJ & AU = if at the top of basket, SELL AJ and BUY AU.
is this correct?
what about UCAD & CADJ?
thanks man.
Hi Julius, I'd like to understand how to trade these correlated pairs when they are close together. I understand EU & UCHF and made money on it.
GU & GJ = if at the top of basket, SELL GU and BUY GJ.
AJ & AU = if at the top of basket, SELL AJ and BUY AU.
is this correct?
what about UCAD & CADJ?
thanks man.First i have to understand which platform is this? IBFX or Fxpro. At the present time we have unify the pairs thus making the IBFX as the universal pairing, however your question have the UCAD and CADJ which we now dont have in the new pairings. Only then i couls answer your question.