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Basket Trading the European Open

  • #81
  • Sep 27, 2017 3:46am Sep 27, 2017 3:46am
Quoting stevedua
Can you post some screens to illustrate your trading examples ?
Hi Steve, there are many examples in this thread already. Have a look at past posts.
Tellboy
  • #82
  • Sep 27, 2017 4:13am Sep 27, 2017 4:13am
Hope tellboy does not mind, If it would help someone. Check the screenshot. Thanks and
Regards
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 33 KB
  • #83
  • Sep 27, 2017 5:02am Sep 27, 2017 5:02am
Quoting tellboy
{quote} Hi Steve, there are many examples in this thread already. Have a look at past posts.
Hi, your posts are very clear to me. I somehow thought he'd be using it differently to bring it to 1000pips if I am
not mistaken
  • #84
  • Sep 27, 2017 5:31am Sep 27, 2017 5:31am
on the short term note, gbpusd bias is toward downside based on current indications. it is expected to move between 1.3370 and 1.360. Thanks and
Regards
  • #85
  • Sep 28, 2017 12:40am Sep 28, 2017 12:40am
Okay, I assume AUD is what you're watching today? Thanks.
  • #86
  • Sep 28, 2017 1:05am Sep 28, 2017 1:05am
Okay, I went short the AUD pairs, all good so far.
  • #87
  • Sep 28, 2017 1:27am Sep 28, 2017 1:27am
Today a new time to euro news; at 7 am London. That is no usual time for Euro news. euro not set. so we call it the day. Only improve. Thanks and
Regards.
  • #88
  • Sep 28, 2017 1:56am Sep 28, 2017 1:56am
Wonder if tellboy considers today 7 am London good time as any other day 7 am to trade with euro news at a new time. Thanks and
Regards
  • #89
  • Oct 2, 2017 2:51am Oct 2, 2017 2:51am
Monday 2nd October and good morning fellow basket traders.

Today shows us an example of a perfect pattern with the USD pairs grouped nicely at the top of the pairs strength table. I was actually looking at the EUR pairs and noticed the bear move down against the USD. Flipping over to USD pairs gives us four pairs to trade. See the charts below for a an example of synchronicity and the strategy working to perfection. Happy trading to all.

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-10-02_10-43-37.jpg Size: 1,020 KB
Tellboy
  • #90
  • Oct 2, 2017 3:00am Oct 2, 2017 3:00am
I also saw the USD move up. took Usdchf buy. 143 pips and all closed. O.K Thanks and
Regards
  • #91
  • Oct 2, 2017 3:02am Oct 2, 2017 3:02am
In the charts above, what do "orders 0", and latent gains mean. Thanks and
Regards
  • #92
  • Oct 2, 2017 3:02am Oct 2, 2017 3:02am
Quoting goodways100
I also saw the USD move up. took Usdchf buy. 143 pips and all closed. O.K Thanks and Regards
It's a great strategy isn't it?
Tellboy
  • #93
  • Oct 4, 2017 3:13am Oct 4, 2017 3:13am
After 2 days if experimenting with trade closers, whopping number of trades in 2 days 467 and made only 28 pips, today dumped the trade closers, and back to my norm again, 397 pips. my selection cadchf and gbpchf. All closed. Does any one have a decent trade closer that wont close trades that are at a loss, and also close by macd or ma crossing.
Thanks and
Regards
  • #94
  • Oct 4, 2017 5:08am Oct 4, 2017 5:08am
Quoting goodways100
After 2 days if experimenting with trade closers, whopping number of trades in 2 days 467 and made only 28 pips, today dumped the trade closers, and back to my norm again, 397 pips. my selection cadchf and gbpchf. All closed. Does any one have a decent trade closer that wont close trades that are at a loss, and also close by macd or ma crossing. Thanks and Regards
Hi there Goodways. You seem to using language (terminology) that doesn't quite fit with the strategy as defined in the first post to this thread.

Today, none of the criteria for good basket trading with any of the major currencies were present. There was much retracement from the main trends on 15 m and 30 m time frames, so this was a good day to be an observer and stay out of the market. Below is an example of when not to trade because there is no synchronicity in the direction of the trend line (yellow 100 ma) and the 7 am candles are not synchronized . I made a few pips by being in touch with the 8 am sentiment , but that's another ploy . I try to stick to the rules and exit trades when the momentum drops off, and that is a matter of personal preference. There is only one trade closer that I am familiar with and that is me . Best wishes to all .

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-10-04_12-56-23.jpg Size: 906 KB
Tellboy
  • #95
  • Oct 4, 2017 7:13am Oct 4, 2017 7:13am
Today I made just 15 pips at GBP pair totally 51 pips. Anyhow Tellboy your strategy nice but price action much supports to trade profitably....
I have been trading the same method for past 2 months out of 26 entries only 3 stoploss triggered..............
Attached Image (click to enlarge)
Click to Enlarge Name: GBP.jpg Size: 476 KB
  • #96
  • Oct 4, 2017 12:05pm Oct 4, 2017 12:05pm
That is exactly what I did, 8 am London time, that is when the 1st GBP signal came from the strategy Gbpchf, one hour late. It you check my explorer my 1st entry is at 7:58 am London. You are right. 7 am was a no trade day. Thanks and
Regards.
  • #97
  • Oct 4, 2017 8:17pm Oct 4, 2017 8:17pm
Bala5855 can you share what is your stop loss. Thanks and Regards.
  • #98
  • Oct 4, 2017 10:00pm Oct 4, 2017 10:00pm
Funny, but I've been fooling around with Forex for years and just found this forum. Incredibly interesting and I must admit this basket trading is near the top.

However, I must be doing something wrong. It seems when I see the "money bar", I will enter the trade when it confirms the direction of the Currency Strength meter, but it seems like more often than not, it reverses on me. I was doing the 25 pip target 20 pip SL but the market seems to like my SL better than my TP. Imagine that!

Last night, I made money in the EURJPY because after getting stopped out after going short after a big 15 min. bar down, I reversed the position at my SL. But it seems to me, that more often than not, the market does not go in the direction of the Money Bar, (beginning of the Frankfurt Session). It goes the opposite direction.

Goodways100, I could really use some suggestions. You seem to have molded your own way of doing things. Any tips?

And thanks to all you guys, Bala5855, Tellboy and goodways. Thanks so much for sharing. I think I have info. overload. Cheers 4pipsake
  • #99
  • Oct 5, 2017 12:40am Oct 5, 2017 12:40am
Quoting goodways100
Bala5855 can you share what is your stop loss. Thanks and Regards.
My stop loss is set at 20 pips, but I hardly ever allow it to reach that point. If price reverses after my entry I usually pull out at about 10.
Tellboy
  • #100
  • Oct 5, 2017 12:43am Oct 5, 2017 12:43am
Quoting 4pipsake
Funny, but I've been fooling around with Forex for years and just found this forum. Incredibly interesting and I must admit this basket trading is near the top. However, I must be doing something wrong. It seems when I see the "money bar", I will enter the trade when it confirms the direction of the Currency Strength meter, but it seems like more often than not, it reverses on me. I was doing the 25 pip target 20 pip SL but the market seems to like my SL better than my TP. Imagine that! Last night, I made money in the EURJPY because after getting...
Hi there 4pipsake. May I suggest you go back to the top of the thread and revisit the strategic rules. You will find the answers you are looking for there. If you follow these strategic steps then you will get better results. Best to all.
Tellboy
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