DislikedI have but 4 minutes after it opens last Sunday
the have also a 9/14 open 1 minute after market opened. Ok ill post it the IAs tommorow (account numbers).Ignored
SIMPLE EA for a simple method needed!! 1 reply
trader101 method based trades 12 replies
Trader101 Method Back Testing Tool Q+A 16 replies
Setting up the Basics for Trader101 style trading. 28 replies
DislikedI have but 4 minutes after it opens last Sunday
the have also a 9/14 open 1 minute after market opened. Ok ill post it the IAs tommorow (account numbers).Ignored
DislikedHow do you buy7 /sell 7 at exacctly the same time, does one of these scripts we have take care of that?Ignored
DislikedAlright, I was bored today and decided to make a few video tutorials on how to install and setup the IA and Demo trading accounts for the system.
These videos are very basic so if you know how to do this already, there really is no need to watch them
Here you can find the tutorial on installing 2 copies of MT4 platform.
http://kantorfx.com/files/trader101/instaling_mt4.zip
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Here you can find the tutorial on the IA MT4 setup
http://kantorfx.com/files/trader101/ia_setup.zip
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Here you can fine the tutorial on the demo trading account setup
http://kantorfx.com/files/trader101/demo_setup.zip
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You can download all of the files I used in the tutorials here (except for the mt4setup file)
http://kantorfx.com/files/trader101/...1%20Method.zip
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Maybe these will be of use to some. Enjoy
LukeIgnored
DislikedI am new to this forum, but I am willing to stick my neck out and suggest how I think this extremely innovative approach to Forex trading works - so amazingly well. It took quite a while to reason this out, but I finally had an "ahah!" moment that other more able contributors seems to.
I describe it in the note and attach as a pdf. Please feel free to add or critique. I have a very thick skin (and some would say a thick skull).
Here Goes:
TraderSyoung’s Notes on Trader101 System
This is my Analysis of Phase 1 of this System described so able by Trader101 and with great respect to his work and to everyone who has contributed to this post. (Note: This Analysis does not address the BUY/SELL All 14 Pairs also discussed on the post.)
I now call this approach Buy Low - Sell High - (How’s that for originality? LOL)
Why does this system Work? - It lets you Buy Low – Sell High, safely.
What you are doing – is creating a “basket” of currency pairs – that all together – balance each other out completely – By “balance out” – I mean that each LONG Currency side of a pair is offset by a same and corresponding SHORT Currency side of another pair, and visa versa.
I.E., for every EURUSD (which is LONG EUR and SHORT USD) there is somewhere in the combination of pairs both:
A SHORT EUR
A LONG USD
And since each of those have to be part of a pair – the other side of those pairs have to be in balance as well!
Any fully balanced combination of pairs will do as a minimum, but
- the more pairs involved the better hedge you have against non-market forces (news!)
- you want only the “best Liquidity” – and lowest spread currencies
So you have to balance these two concepts with what is available to you from your broker.
The 14 Pairs that Trader101 has identified seem ideal, as long as your broker supports them.
If not – use my spreadsheet to help identify what pairs you can use.
This combination of pairs can now act like a “virtual” trade – all combined into one line on the chart! – and now act as a “virtual currency” – which represents the Daily Profit of the basket of pairs
The original value of this “Virtual Currency” is pegged at almost zero – at the time you create it (when you execute the TradeHedge script (actually somewhat below zero – the sum of all the bid-ask spreads).
This represents the ZERO line- on a Profit/Loss Graph. What we are looking for is not the price of the pair, but the PROFIT OF THE PAIR – AS COMPARED TO – THE PROFIT OF THE VIRTUAL CURRENCY (I now call “VC”, for short)
What you are actually doing is trading the profit of a specific currencies pairs against this profit of the VC, that is:
- When a currency pair is valued “BELOW” the VC zero line – BUY IT ( BUY LOW)
- When a currency pair is valued “ABOVE” the VC zero line – Sell it (SELL HIGH)
Now, to avoid confusion for newby’s, (back to Forex 101) remember that each currency pair is composed of two currencies, one you BUY, the other you SELL
Example EURUSD:
When you Buy the EURUSD pair - you actually Buy EUR and SELL USD
When you Sell the EURUSD pair - you actually Buy USD and SELL EUR
So don’t be confused by this double meaning of
Buy/Sell Pair – vs. Buy Low/Sell High
We can’t seem to avoid this double terminology – so we will have to live with it.
TO live with it – Remember these simple rules:
- A BUY currency Pair (i.e. BUY EURUSD) has Value when POSITIVE – so you follow the simple rules BUY LOW (value)– SELL HIGH (value)
1.When a BUY currency Pair is BELOW the zero line (of the “VC”) –it has negative value – BUY IT
2.When a BUY currency Pair is ABOVE the zero line (of the “VC”) – it has positive value -SELL IT
- A SELL currency Pair (i.e. SELL EURGBP) has VALUE when NEGATIVE (that is – you have to reverse the sign of the “Profit” column for these pairs to make sense of this) – so you follow the simple rules BUY LOW (value)– SELL HIGH (value)
- When a SELL currency Pair is ABOVE the zero Line (of the “VC”) – has negative value - BUY IT
- When a SELL Currency Pair is BELOW the zero Line (of the “VC”) – has positive value - SELL IT
Obviously you will be better off the further away from the zero line the pair you choose to trade is when you take the trade or close it out.
THAT’S IT!
Since currency pairs fluctuate in value with respect to the world-wide basket of currencies – even Virtual Currencies! - remember to protect yourself before anything else!
NEWS AND SUDDEN MARKET SHOCKS EFFECT EVERY CURRENCY – IN AN UNPREDICTABLE FASHION – all you can do is:
Not Trade!
Be Preapared to GET OUT FAST!
I would strongly recommend setting up EA (on any active pair) as described on the post for
2ProtectAccount
Close-Trade_After_Account_Lose_Too_Much
Close-Trade_After_Account_Profit_Realized
As very well described in Luke’s Video on the thread.
EA MONEY MACHINE
It should be fairly straight-forward to write the following in MetaTrader. (I am an experience programmer – but new to the MetaTrader platform – so I can do it – but not quickly)
Indicator showing:
- showing the NET BAR PROFIT of all Pairs in your Virtual Currency – This will be the “zero Line” in every time frame and every bar.
(Hint: Allow user to enter/save the currency pairs they are using.)
- Then Plotting the NET BAR PROFIT of the Current Pair Above/Below that zero line – for every time frame and every bar (and taking into account if it is a BUY or SELL pair).
- This will indicate if it is time to BUY or SELL that currency Pair.
EA that will automatically:
Compute the values in the indicate above and then execute the trade (no need for a demo platform vs. a live platform)
1.Buy - when Currency is a given amount below/above zero line (or a percent of the total Virtual Currency high/low)
2.With some kind of built in profit/loss protection as given in the EA’s above
AN EA of this kind should be able to be back-tested – as long as you have the price history for all the pairs on your workstation.
(Actually – One EA could theoretically plot and trade ALL 14 currency pairs – although Meta Trader has a limitation that any EA attached to a chart is only activated when there is a price tick – so you might want this to attach only to a very active pair - and would not be the ideal back-test process.)
Steven R. Young
TraderSYoungIgnored
Dislikedthanks jim. i have all that, but what are the final pairs that have been settled on.
i'm computer illiterate
the pairs on t101 screnshots are not as post 1,Ignored
----- Original Message -----
From:
To:
Sent: Saturday, September 27, 2008 6:13 AM
Subject: Your New Setup
Hi Brian,
My name is Bryon
I was reading the threads at FF and stumbled across your website. I registered a little while ago
I see you're starting to teach your new method next week and I'm really excited about it. Especially if it's
being combined in a sense with trader101's setup. I really would like to be one of the first ones to help test,
practice, etc. I have the time and patience. I know you're teaching for free but I don't mind paying to learn so
I will be at least definetely donating.
How do you plan on releasing this? I saw you mentioning something about sharing with a few close friends
and associates first. But since I'm new to your group, how do you plan on rolling out the method to new
members?
Once you setup up the new room I'd like the password.
Anyways, enjoy your weekend and I look forward to learning from you and becoming a regular member of
your group.
warm regards,
Dislikedplease do not mentioned our website i dont want to loose the privlidge of posting here here is an email i recieved and my reply
i have yet to dicuss this with luke and jth i will first train as many members as i can the first part tomake 100% hit rate, then after my small test group and there results, we will start training all our ---- members, on a live trading room i just started on thursday on my combined strategy of 101 and mine
simlplified to give anytrader the best of the best ive only started the process is unbelievable , although i dont exactly use 101s layout for trading the basic idea is the same
alowing you to trade in your time and make great 100% hit rates with great profits for a minimun of hassle
thats all for now
ps you guys will also be able to talk anytime on any forex subject with all members when its set up so of course 101s method its use and refirnments ,
what an opertunity to talkwith fellow traders in your time zone re set ups trades in the making sharing opinion ect for free
so i think if nothing else this will really help traders
best regards from Brian
----- Original Message -----
From:
To:
Sent: Saturday, September 27, 2008 6:13 AM
Subject: Your New Setup
Hi Brian,
My name is Bryon
I was reading the threads at FF and stumbled across your website. I registered a little while ago
I see you're starting to teach your new method next week and I'm really excited about it. Especially if it's
being combined in a sense with trader101's setup. I really would like to be one of the first ones to help test,
practice, etc. I have the time and patience. I know you're teaching for free but I don't mind paying to learn so
I will be at least definetely donating.
How do you plan on releasing this? I saw you mentioning something about sharing with a few close friends
and associates first. But since I'm new to your group, how do you plan on rolling out the method to new
members?
Once you setup up the new room I'd like the password.
Anyways, enjoy your weekend and I look forward to learning from you and becoming a regular member of
your group.
warm regards,
Ignored
DislikedTO ALL..
Ive been quiet for sometime about this but with all DUE RESPECT TO ALL. If you want any classes or lecturing or anything else you are free to go. Only thing please do not use this thread an a conduit for such. I hate to see people came here and start preaching he knows the system and make this forum as a jump start to herd people to his website. I started this thread in good faith to teach the method that i have. If you guys come here to teach your own method by my guest open another thread. It is free. I DO NOT WANT ANY MORE TALKING OF OTHER WEBSITE OR ANY METHOD AS LONG AS YOU ARE IN THIS THREAD. or i will be force to report this to the Admin. Respect the originator of this thread, do not ride on the popularity. 100% hit rate that is total BULL... so stop talking about it. Holy grail thats a bigger BULL... I hope we understand each other other here.
Julius
T101Ignored
DislikedTO ALL..
Ive been quiet for sometime about this but with all DUE RESPECT TO ALL. If you want any classes or lecturing or anything else you are free to go. Only thing please do not use this thread an a conduit for such. I hate to see people came here and start preaching he knows the system and make this forum as a jump start to herd people to his website. I started this thread in good faith to teach the method that i have. If you guys come here to teach your own method by my guest open another thread. It is free. I DO NOT WANT ANY MORE TALKING OF OTHER WEBSITE OR ANY METHOD AS LONG AS YOU ARE IN THIS THREAD. or i will be force to report this to the Admin. Respect the originator of this thread, do not ride on the popularity. 100% hit rate that is total BULL... so stop talking about it. Holy grail thats a bigger BULL... I hope we understand each other other here.
Julius
T101Ignored
DislikedI agree with Trader101. I was maybe too hasty in saying that the trading room was a good idea. While I don't think anything bad was meant by the suggestion, it should have been run by Trader101 privately first.
This is a wonderful system that you're showing in this thread. I've been following your calls for almost a year when you were posting in the Simplicity Is The Key journal, and it's great that you have decided to reveal the system to everyone - for free no less!
Hope for a good week ahead!Ignored