2pip Cross-Quote Derivatives

Nicholishen · #1 (**permalink**) 11-21-2006, 04:48 AM

Hello TSDers!

It's been a while since I've put anything new here. I want to introduce you to a new EA that essentially allows you to trade currency cross quotes @ 2 pip spreads. I have been testing this with Crown Forex (1pip on ALL USD pairs) and it seems to be working great so far.

The EA places trades on the chart of the desired trade symbol. It calculates positions to go Long on Base quote pair and short the floating pair, while heding out the USD. So if you want to place a LONG trade on the EURJPY you would:

1) Place EA on the EURJPY chart
2) Designate a total aggregate lot size
3) Change the extern boolean TradeBUY to true
4) Set SL/TP or leave at 0 for no SL/TP

The EA will automatically calculate position sizes to hedge out the USD and move similar to the symbol on the chart. The TP and SL is set to the price of the CROSS CHART bid/ask, and is set to close trades if and when the price on the CROSS chart has hit the SL or TP.

I welcome any questions.

Please pay special note to the copyright notice. I have to respectfully ask that if anyone would like to use any portion of the source code or to post this on any other forum except www.forex-tsd.com, please get express written permission by emailing me at nickATbarkerDOTnet

I am looking forward to your

Crown Forex MT4 DEMO

Quote:

Copyright Notice and License Agreements
Nicholas Barker - Copyright © 2006 Apex Group Investments, LLC.

AGI software [both binary and source (if released)] (hereafter, Software) is intellectual property owned by AGI and
is copyright of AGI in all countries in the world, and ownership remains with AGI.

You (hereafter, Licensee) may download the AGI software and install it for a testing and evaluation.

Licensee is not allowed to distribute the binary and source code (if released) to third parties. Licensee is not
allowed to reverse engineer, disassemble or decompile code, or make any modifications of the binary or source code,
remove or alter any trademark, logo, copyright or other proprietary notices, legends, symbols, or labels in the
Software.

Licensee is not allowed to sub-license the Software or any derivative work based on or derived from the Software.

The Licensee acknowledges and agrees that the software is delivered 'as is' without warranty and without any support
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implied, as to the software and its derivatives.

It is understood by Licensee that AGI shall not be liable for any loss or damage that may arise,
including any indirect special or consequential loss or damage in connection with or arising from the performance
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By using or copying this Software, Licensee agrees to abide by the copyright law and all other applicable laws of
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}

Nicholishen · #2 (**permalink**) 11-21-2006, 05:08 AM

To know whether or not the the USD is properly hedged out of the derivative, you can use the following to double check:

If the USD is the base currency the the USD position the the number of lots.
If the USD is NOT the base currency the postion is the product of the number of lots by the order open price.
When the two are close to the same (would be same if lot sizes were mico and beyond) the USD is effectively hedged out.

Nicholishen · #3 (**permalink**) 11-21-2006, 07:28 AM

Here is a screen shot

adria · #4 (**permalink**) 11-21-2006, 11:38 AM

Can this EA work at 3 or 5 spread?

Nicholishen · #5 (**permalink**) 11-21-2006, 04:07 PM

Quote:

Originally Posted by adria

Can this EA work at 3 or 5 spread?

Yes, this can work at any spread, but of coarse the idea is to pay as little as possible on the spread and scalp the Cross pairs which seem to have a more predictable behavior.

adria · #6 (**permalink**) 11-21-2006, 07:49 PM

Is the time frame important?

Nicholishen · #7 (**permalink**) 11-21-2006, 08:30 PM

Quote:

Originally Posted by adria

Is the time frame important?

No, there aren't any indicators so it will work on any timeframe. Do you have any ideas on a good ranging system to apply this to? Keep in mind that as of now the entry and exits are purely manual.

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