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Basket Trading the European Open

  • #41
  • Aug 24, 2017 6:56am Aug 24, 2017 6:56am
Quoting bala5855
Here today made 70 pips in GBP pairs....Pure PA method .... {image}
Hi,

What is your PA entry rule because I you dont use the moving averages like Tellyboy, you somehow are using another technique to catch those moments.

Thanks
  • #42
  • Aug 24, 2017 7:33am Aug 24, 2017 7:33am
Quoting goodways100
Tellboy are your charts web charts based on Java. If so where can I find them, specially the ones that say NZD or Aud for that matter before other curr. Such as Nzdgbp, Nzdeur etc. Thanks and Regards
I use the broker IG Index and their software is pro real time. And yes, it is a Java based system.
Tellboy
  • #43
  • Aug 25, 2017 8:41am Aug 25, 2017 8:41am
I follow the PA method of Engulfing candles....
It is the best way to predict the market reversals...
And also I watch the Active markets and Idle markets...then wait for either buy or sell according to the trend...
just i watch the idle currencies and the active currencies which is strong and which one is weak....
thats all....See Aussie markets and NZD markets close at the time of London open and More or less Jpy markets also...
So i just go thro the open markets Euro and GBP which is active and research whether it is Strong or weak...
  • #44
  • Sep 5, 2017 8:30am Sep 5, 2017 8:30am
Tuesday 5th Sept. Sorry it has been a while since I last posted - been occupied with other things. However, I thought it was time to post a reminder with an example of how this strategy works.

Aussie pairs showed at the top of the strength board this morning and the 7 am candle on the 15 minute time frame indicated a continuation of the move to the upside where it crosses the daily pivot. This is where trust and patience have their perfect day. On the close of the 7 am bull candle take position on all pairs with a 20 pip stop loss and a 50 pip target and then walk away. Don't use trailing stops or you are likely to get stopped out on the pullbacks. Check your profit after 2 pm (UK time) when the bankers get back from lunch. Today all 50 pip targets where met by this time.

Look for the signs at 7 am for future good days like this. Follow the strategic rules and make some real profits. Happy trading to all.

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-09-05_16-20-25.jpg Size: 900 KB
Tellboy
  • #45
  • Sep 6, 2017 2:54am Sep 6, 2017 2:54am
Sept 5
sold eurcad 7:14 am London 1.4747 exit 4:31 pm London 1.4713 34 pips. You mention strength board. May I ask what strength board you use. Thanks and
Regards
  • #46
  • Sep 6, 2017 2:57am Sep 6, 2017 2:57am
Sept 6
Buy eurnzd 7:04 am
Sold nzdusd 6:28 am
both trds are o.k
  • #47
  • Sep 6, 2017 3:09am Sep 6, 2017 3:09am
Check my explorer.
  • #48
  • Sep 6, 2017 3:20am Sep 6, 2017 3:20am
Quoting goodways100
Sept 5 sold eurcad 7:14 am London 1.4747 exit 4:31 pm London 1.4713 34 pips. You mention strength board. May I ask what strength board you use. Thanks and Regards
Go back through the thread and you will see examples of the strength board. It is part of the software platform I use with the broker IG Index. The platform is called Pro Real Time.
Tellboy
  • #49
  • Sep 6, 2017 5:46am Sep 6, 2017 5:46am
Got it. Will try to use it tomorrow. Thanks and
Regards
  • #50
  • Sep 6, 2017 6:25am Sep 6, 2017 6:25am
I have a question.
You chose buy audusd
I chose buy eurcad. exit all trds at 9 am London.
Audusd also exit 9 am
strategy tester:
Eurcad buy: expected pay off 69.97. Maximal drawdown 29.69%
Audusd buy: Expected payoff 13.86, Maximal drawdown 6.27%
Which trade is better, where Eurcad made more money. Thanks and
Regards
  • #51
  • Sep 6, 2017 11:08am Sep 6, 2017 11:08am
Quoting goodways100
I have a question. You chose buy audusd I chose buy eurcad. exit all trds at 9 am London. Audusd also exit 9 am strategy tester: Eurcad buy: expected pay off 69.97. Maximal drawdown 29.69% Audusd buy: Expected payoff 13.86, Maximal drawdown 6.27% Which trade is better, where Eurcad made more money. Thanks and Regards
I chose to buy EUR/USD, EUR/CAD, EUR/AUD and EUR/NZD and I set a target of 25 pips. I choose to exit at just past 8 am even if the target is not reached, just in case of a pullback and not wait for 9 am London. Application of patience could realize the target on all pairs or go into reverse. The most important factor is to follow the strategic rules set out at the top of this thread for trade entry. The rest is all a matter of personal preference. Best regards.
Tellboy
  • #52
  • Sep 12, 2017 2:10am Sep 12, 2017 2:10am
My today selection London open nzdjpy, nzdusd. check out my explorer. Thanks and
Regards
  • #53
  • Sep 13, 2017 2:51am Sep 13, 2017 2:51am
No trade. Thanks and
Regards
  • #54
  • Sep 13, 2017 9:46am Sep 13, 2017 9:46am
Quoting goodways100
No trade. Thanks and Regards
Hello Goodways,

can you please explain why you didnīt take any trade?

I hope to learn more from this thread.


Thank you
  • #55
  • Sep 13, 2017 12:54pm Sep 13, 2017 12:54pm
Quoting henrofi
{quote} Hello Goodways, can you please explain why you didnīt take any trade? I hope to learn more from this thread. Thank you
Because none of the criteria in the system strategy were met. There must be synchronicity in all pairs and the 7 am candle on the 15 min time frame must be pointing in the same direction as the trend on all pairs. If none of these criteria are met it is best to stay out of the market. Go to the first page of this thread and see the rules there.
Tellboy
  • #56
  • Sep 13, 2017 2:47pm Sep 13, 2017 2:47pm
Quoting tellboy
{quote} Because none of the criteria in the system strategy were met. There must be synchronicity in all pairs and the 7 am candle on the 15 min time frame must be pointing in the same direction as the trend on all pairs. If none of these criteria are met it is best to stay out of the market. Go to the first page of this thread and see the rules there.
Thank you. I will read it again and practice.
  • #57
  • Sep 15, 2017 1:59am Sep 15, 2017 1:59am
Today selection nzdjpy, gbpjpy, nzdjpy closed at small profit. checkout my explorer. Thanks and
Regards
  • #58
  • Sep 15, 2017 2:02am Sep 15, 2017 2:02am
Quoting goodways100
Today selection nzdjpy, gbpjpy, nzdjpy closed at small profit. checkout my explorer. Thanks and Regards
A strong NZD and weak JPY offered basket trades on all associated pairs. I will post the charts later today.
Tellboy
  • #59
  • Sep 15, 2017 2:26am Sep 15, 2017 2:26am
Tellboy have you ever figured out a technique for a 4h chart. Would you mind sharing it. Thanks and
Regards
  • #60
  • Sep 15, 2017 5:37am Sep 15, 2017 5:37am
Quoting goodways100
Tellboy have you ever figured out a technique for a 4h chart. Would you mind sharing it. Thanks and Regards
No. Quite simply I don't have the patience. That's why I like to take scalps and walk away with the profit, rather than trade larger time frames.

Below are this morning's scalp results.
Tellboy
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