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Pitbull Trader with Position Building

Chips, is it possible that you ARE Brijon? Your method and style of communicating is nearly identical to his, including the use of the thumbs up, all caps, and extremely difficult to understand.

Would you tell us if you were him?

Quoting chips
I Use Pitbull to Trade the market as a business.

control other ppls money( broker) ...Sales increases Equity

Because Pitbull gives a high and accurate hit rate..I can BE positions with depleting my base capital. I'm doing this by controlling the DD. using the techniques listed.

These positions will grow for hundreds of pips in the weekly direction.

While doing this I can take small profits ..increasing by bal and reducing DD also.

So its a versatile system.

I have no emotions attached to my BE positions as they will eventually...
I would not suggest anyone trade this way, as there is no clear, rational, intelligent statements on how to manage drawdown.

I do not consider statements such as "enter like business, manage dd, sell when down, buy when up, take when profit, stock up, sell merchandise...see very easy...god bless." to be rational, intelligent statements on how to manage drawdown.

Quoting Logs
[b][font=Arial]Hi Guys
Great to see that this system is still alive and well. Thanks and kudos to Chips for starting a new thread.
I found this system very interesting when it was first introduced to us by the Master on Nov 9th 2011, taking $5000 demo to $8500 in one week. (14 Nov - 18 Nov) I may have been lucky. (PDF orig post 605, see link below)
Now that the Holidays are nearly over I will start trading again once liquidity returns.
For those who may have missed it here is the post from 'Dreamliner', who was kind enough to condense the trading...
Quoting Dreamliner
Chips, is it possible that you ARE Brijon? Your method and style of communicating is nearly identical to his, including the use of the thumbs up, all caps, and extremely difficult to understand.

Would you tell us if you were him?
I'm not Brijon...

I am learning something new everyday..
"Chips"/brijon, what exactly are you saying here? Don't overtrade?

Quoting chips
Trading is a risky business DO NOT investment more in the market than you are willing to loose.
People tend to get greedy and increase lot size this is only increasing the work load and stress.

I KNOW I have blown the live account even and Demos, even though J16 says prove you are profitable for 3 months before invest real money in the market. I though I had under control

We cant predict these things but if it happens you can trade your way back remember you only accept a loss if close out neg positions or you did budget for and sudden...
Quoting chips
God Bless
Quoting Dreamliner
Chips, is it possible that you ARE Brijon? Your method and style of communicating is nearly identical to his, including the use of the thumbs up, all caps, and extremely difficult to understand.

Would you tell us if you were him?
I had that thought also when I read the very first post, he says God Bless a lot in videos, but seems to me chips is actually explaining things better than Brijon, IMHO
Maximize wins, minimize loss, stay in the game as long as you can
I've read the whole thread now and honestly cannot see any difference whatsoever in the communication style of brijon/chips. Both are identical.

Quoting Erebus
I had that thought also when I read the very first post, he says God Bless a lot in videos, but seems to me chips is actually explaining things better than Brijon, IMHO
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Presence
If we treat the indicator pairs as a basket, how far in profit or in loss have you experienced? In other words, my current set of indicator pairs is showing a loss of over 200 pips. Have you seen much higher?
i've seen it go double that plus, but not much more.

for it to go much further the basket needs a complete breakdown i.e shorts going long and remain basket going short - complete market inbalance - the pair are selected to give balance and thus it should not move that far.

reason for the DD should be looked at - JPY pairs moving long faster the the long basket / widening spreads due to big news event / etc etc, these create a temp inbalance

the other issue is that as you add trade positions you unbalance the open positions in your account and higlight this even more, especially if the market goes against you - - it can and it will.

this is why i run my indicator set seperatly to my trade account - you always have the correct open prices and it doesn't matter what it does or when it does it, you can wait for the right moment to trade and not worry about DD on the indi.
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Wally1953
Does anyone have a suggestion on what us U.S. traders can do as an alternative, if we can't hedge a losing trade? Just close it out?

Thanks in advance!
not sure but can the US traders run 2 accounts with same broker - split the funds between both, use 1 for long and 1 for shorts , by using same broker it's easy to flip funds to maintian account balance and the trades can be artificially hedged this way
Yes, I do this all the time with Oanda, it's very easy to do.

Quoting MPP
not sure but can the US traders run 2 accounts with same broker - split the funds between both, use 1 for long and 1 for shorts , by using same broker it's easy to flip funds to maintian account balance and the trades can be artificially hedged this way
Quoting MPP
i've seen it go double that plus, but not much more.

for it to go much further the basket needs a complete breakdown i.e shorts going long and remain basket going short - complete market inbalance - the pair are selected to give balance and thus it should not move that far.

reason for the DD should be looked at - JPY pairs moving long faster the the long basket / widening spreads due to big news event / etc etc, these create a temp inbalance

the other issue is that as you add trade positions you unbalance the open positions in your account...
If you were to keep the indicator chart and trading chart completely separate, would you still see up to 400 pip swing in one direction? And generally, does it balance itself out eventually (i.e., swing back into balance)?

The reason I ask is because chips made it sound the indicators will swing back and forth (loss profit loss and etc). I just want to be sure I completely understand what he meant.
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Dreamliner
I would not suggest anyone trade this way, as there is no clear, rational, intelligent statements on how to manage drawdown.

I do not consider statements such as "enter like business, manage dd, sell when down, buy when up, take when profit, stock up, sell merchandise...see very easy...god bless." to be rational, intelligent statements on how to manage drawdown.
I'd have to agree with you DL about the info being provided, this is not an easy to understand system. at what point do we decide there is enough profit to close out the indi set? - then we open it again at a random point in time and wait for it to settle again.

there is really no definative answer to most of these questions - you must demo it and get to understand how it works and find the answers yourself, there are so many ways to trade this and this thread only covers 1 of them.

how far in profit/loss should a pair be in when at either end to be considered stable and tradable?
how far in profit/loss should the longs or shorts be to consider that a trend in the market?
Which pairs move first - does Ej move before Gj - can we therefore trade Gj to catch Ej?
which pairs commonly sit in slots 1 and 10 at the extreme ends, if Gu is in slot 1 long - how far has it gone to reach slot 10 ( did we miss the short or take a big loss)?
Why not trade all 10 pairs in the market direction?
A short pairs runs into the longs - the pack is split - whats happening?

and the list goes on

Only time and practice will show the way for people to trade this,

YOU CAN ENTER THE MARKET AT ANY POINT, WITHOUT ANY THOUGHT - NOT KNOWING WHEN TO LEAVE WILL COST YOU MONEY

  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Presence
If you were to keep the indicator chart and trading chart completely separate, would you still see up to 400 pip swing in one direction? And generally, does it balance itself out eventually (i.e., swing back into balance)?

The reason I ask is because chips made it sound the indicators will swing back and forth (loss profit loss and etc). I just want to be sure I completely understand what he meant.

When you open the indi set you are already down approx 50pips (spread) so we always start of negative.

yes the indi set will run in circles from + to - and so on (more vsiable when you first open the indi, but less as the trend developes), but may not always return to profit, imagine that the market is long but Jpy pairs are leading the way all 5 shorts are in negative positions - if this trend remains and the USD pairs don't move as quickly our indi set will maintain a neg balance

Gu and Gj will generally follow the same direction (not always if GBP is not in the news etc) but Gj can and will move 3 times that of Gu - eventually the indi set will follow the market, but it may never catch up and thus we maintain the loss. to get over this Chips uses a hedge position that is bigger than the indi position in loss to play catch up.

to avoid the loss you can use demo accounts, indicators and excell type docs - there are plenty of options in the basket trading threads by T101 (trader101) these options provide a free (no cost to business) way of reading the indi set. and then you can use smaller more managable lot sizes for your trades (don't over expose your account)

that said one of brijons ideas was to open the indi set and get out almost as soon as it went into profit - little and often.
Quoting Dreamliner
"Chips"/brijon, what exactly are you saying here? Don't overtrade?
Man thats exactly what i'm saying. Everyone expresses themselves differently.

This system is not for the new traders. it's hard to understand.

I shouldn't have spell everything out into a A- B-C format.

Should I tell everyone not to overtrade every systeem.

Every system is as good as the person trading it.

even if the system has +ve expectancy ...each person will trade it defferently

And acheive different profits
Quoting MPP
When you open the indi set you are already down approx 50pips (spread) so we always start of negative.

yes the indi set will run in circles from + to - and so on (more vsiable when you first open the indi, but less as the trend developes), but may not always return to profit, imagine that the market is long but Jpy pairs are leading the way all 5 shorts are in negative positions - if this trend remains and the USD pairs don't move as quickly our indi set will maintain a neg balance

Gu and Gj will generally follow the same direction (not always...
Thanks for the clarification. I misinterpreted what chips said to mean that the indi set will eventually go back to even or profit.
Quoting MPP
I'd have to agree with you DL about the info being provided, this is not an easy to understand system. at what point do we decide there is enough profit to close out the indi set? - then we open it again at a random point in time and wait for it to settle again.

there is really no definative answer to most of these questions - you must demo it and get to understand how it works and find the answers yourself, there are so many ways to trade this and this thread only covers 1 of them.

how far in profit/loss should a pair be in when at either end...
1. you do trade all pairs in the market direction on the Trend BIAS basis. The indicator tells you when to add more sells than buys

2. Best time to start the indi is at the start of the week or start of the day..0000GMT

3. DD control techiques are

a. hedge notice the pairs...us broker dont allow same pair hedge

b. Trend bias ratio of buys to sells

c. Tripple SWAP runup on Wed. for AUDUSD - Long and EURAUD Short

d. Trade the extreme pairs.. greatest loss and grestest profit

e. Jumping pairs...Moving from center into extreme positions

Buy if the Current price is above the daily open and Sell if the current price is below

The basket can be used in a flexible way...because of the polarity or the nature of how the currecies moves on a daily basis.

Your indi basket if left untouch will give profit.

Loss Profit Loss...this how market moves in circle ..now you will need patience for it the return sometimes is quick

We dont know which pairs will move first, or which pair will jump or be in grtr profit or loss. Frankly we dont care..we are trading where the money is flowing at any given time.

WHERE is THE MONEY FLOWING , CHECK THE BOTTOM LINE..after all this is the platfom that you count on to keep track of your trades and handle your stops, calculate the EMA, Candle shapes , etc.
..why not trust it to tell you automatically which is the best pair to trade.

Stable is if the bottom pair sits in the bottom slot, and its not jumping around...onces its settles it means that the money has decided on the direction.

I hope this helps.. and ppl will take sometime clear their minds and just think like a child.

I not trying to corrupt or mislead anyone...what works for me, may not work for you...or my son..

But if you really like something..or someone you will try your best to understand and make it work
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting chips
1. you do trade all pairs in the market direction on the Trend BIAS basis. The indicator tells you when to add more sells than buys

2. Best time to start the indi is at the start of the week or start of the day..0000GMT

3. DD control techiques are

a. hedge notice the pairs...us broker dont allow same pair hedge

b. Trend bias ratio of buys to sells

c. Tripple SWAP runup on Wed. for AUDUSD - Long and EURAUD Short

d. Trade the extreme pairs.. greatest loss and grestest profit

e. Jumping pairs...Moving from center into extreme positions...
if you still can - i think you should add this post to the info on page 1 and 3 at the begining of the thread - it's good info to have from the start.
Quoting MPP
When you open the indi set you are already down approx 50pips (spread) so we always start of negative.

yes the indi set will run in circles from + to - and so on (more vsiable when you first open the indi, but less as the trend developes), but may not always return to profit, imagine that the market is long but Jpy pairs are leading the way all 5 shorts are in negative positions - if this trend remains and the USD pairs don't move as quickly our indi set will maintain a neg balance

Gu and Gj will generally follow the same direction (not always...
There actually no loss if you dont close the indi set in loss..that not running a business just taking losses on the products means that you going out of business more line closing shop, blowout sale

you actually use the brokers spread and make sales..increases in sales , increases equity...but using the techiques to control the brokers spread.

if you did $1000 of sales and have a $600 DD if you close out you are $400 profit...at no cost to you..

thats pure profit on you initial investments...
That is why 123 system don't work for the masses.

Trading is creating and innovating loss risk ideas and ACT on it. DEMO if you like to preserve..your capital and use the Business Tool Brijon left us with to trade like a business.

J16 says trading is a Business go check it out..they are good , I go there from time to time...heck I was even a member...

I learn a lot of stuff...

I like the method too...but I'm trading according to my beliefs system..

I didn't open this thread for it to become a trading system..It simply got moved here.

I wanted it in the journal section...for ppl to ask and comment
on the method..

Previous post i gave some techiques I acquire from Brijon, there are more I need to get..you dont need a million ways to trade to strongest pair..just dont trade more that you are willing to loose..

Tripple SWAP almost aways make money..because banks choose the Higher interest currency.. I didn't realize that the maket is keyed to a certain aspect...Think about it


Peace and Love
brijon, we understand, but you really should insist this method be placed in the journal section then.

Quoting chips
That is why 123 system don't work for the masses.

Trading is creating and innovating loss risk ideas and ACT on it. DEMO if you like to preserve..your capital and use the Business Tool Brijon left us with to trade like a business.

J16 says trading is a Business go check it out..they are good , I go there from time to time...heck I was even a member...

I learn a lot of stuff...

I like the method too...but I'm trading according to my beliefs system..

I didn't open this thread for it to become a trading system..It simply...
Quoting chips
1. you do trade all pairs in the market direction on the Trend BIAS basis. The indicator tells you when to add more sells than buys

2. Best time to start the indi is at the start of the week or start of the day..0000GMT

3. DD control techiques are

a. hedge notice the pairs...us broker dont allow same pair hedge

b. Trend bias ratio of buys to sells

c. Tripple SWAP runup on Wed. for AUDUSD - Long and EURAUD Short

d. Trade the extreme pairs.. greatest loss and grestest profit

e. Jumping pairs...Moving from center into extreme...
Please explain how you trade the extreme pairs. For example if the extremes are as follows:
GBPUSD - 200 and USDJPY is + 250
I understand in the direction of the strongest? Do you take the opposite direction of the largest loser?
Thanks
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