Single Currency Basket Trading
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Thread: Single Currency Basket Trading

  1. #1
    Journal to test my Single Currency Basket System.

    Goal - To boost my account (demo) from 50k to 60k (20 percent ) in one month (start 1st September- end 30th September)

    How does my system work?

    I trade USD, EUR, GBP, JPY, CAD, AUD and NZD as a currency basket.

    For instance, if I wished to buy NZD as a basket, I would put the following transactions -

    Buy NZDUSD (1 lot)
    Sell EURNZD (1 lot)
    Sell GBPNZD (1 lot)
    Buy NZDJPY (1 lot)
    Buy NZDCAD (1 lot)
    Sell AUDNZD (1 lot)

    System Rules

    1) In New York near (17:00 EST) assess daily currency asset indior to find out whether conditions are appropriate to put a trade.

    2) Put one currency basket (6 currency pairs @ 1 Lot each) about 1 hour following New York shut (wait for those spreads to narrow)

    3) Stop Loss- Set EA to shut all transactions @ -$2500 (5% of initial deposit)

    4) Take Profit - Set EA to shut all trades @ $5000 (10% of initial deposit)

    5) If neither SL or TP are struck, then manually shut all transactions an hour or two before New York close.
    (When profit is $2500 until London session starts then shut all transactions and take profit)

    6) Do not put a trade on Fridays

    What is the advantage of using this program?

    Requires only 10 minutes or so daily (no watching computer screens or charts for hours on end)
    Entirely mechanical trading choices - maybe not a lot of analysis required
    Possible to profit from big intraday moves if they occur (and reduce losses when transactions go against you)

    Trade Explorer attached- I do not trade everyday, just when the setup is suitable.

    Hopefully I can achieve my goal - your opinions are welcome

  2. #2
    Currency Basket #2

    Sell JPY

    Manually closed all trades before London opening

    Beginning Balance $52,678

    Profit $2747

    Closing worth $55,425

  3. #3
    Interesting....what do you use to ascertain currency potency, and EA do you use to control trades?

  4. #4
    Quote Originally Posted by ;
    Interesting....what would you use to ascertain currency strength, and EA would you use to control trades?
    Hello Kraven. Thanks for your interest.

    I have my own currency strength indior which I produced in excel (I don't understand how to code- wish I did!) . However, Excel appears to do everything I need it to do for now. It took me some time to work out, however I figured out how to get live price information into excel from MT4 and gradually built the indior out there, testing out lots of thoughts. After I had access to Daily Close prices and live price information I was off - booted all kinds of thoughts and then forward back and testing testing to determine if I could get a better handle on the market. My indior produces two readings. I tried to work out with back testing and forwards testing how these two readings related to each other, and was there a predictable pattern that I could make the most of. It ends up that currencies have their own idiosyncrasies, and I have discovered what two readings work best with every currency. Of course it's not 100% accurate since the market is never predictable, which is the reason why I would always use a SL. However, it does seem to be approximately 70% accurate. If I get 7 great basket trades and 3 bad basket trades which struck my stop- hopefully I will still earn a descent profit.

    The EA I use is a free download that I discovered by searching the internet for quite some time. I am able to set a SL or TP for all places in my account according to a financial figure instead of amount of pips.

  5. #5
    Currency Basket #3

    Sell EUR

    Manually closed all trades around 3 hours after London open

    Starting Balance $55,425

    Profit $2559

    Closing Balance $57,984

  6. #6
    Currency Basket #4

    Sell AUD

    EA closed all Transactions @ -$2500

    Beginning worth $57,984

    Reduction $2553

    Closing worth $55,431

  7. #7
    Currency Basket #1

    Sell CAD

    Manually closed all Transactions Prior to London opening

    Beginning Balance $50,000

    Profit $2678

    Closing worth $52,678

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