Disliked{quote} How are you deciding which pairs are RSI correlated for the basket?Ignored
1
- #2,202
- Oct 15, 2018 6:51pm Oct 15, 2018 6:51pm
- | Commercial User | Joined Jul 2009 | 5,727 Posts
OK, here are the RED RSI picks for a H1 4 pair basket, lets see what happens.
After looking at the chart, which I should have done and didn't, I decided to put a TP and SL on this bugger as it seems we may be in an up trend with a minor pull back that is forming a flag. So I will just grab a couple of pips and save my powder for the next one.
After looking at the chart, which I should have done and didn't, I decided to put a TP and SL on this bugger as it seems we may be in an up trend with a minor pull back that is forming a flag. So I will just grab a couple of pips and save my powder for the next one.
- #2,212
- Oct 16, 2018 10:37pm Oct 16, 2018 10:37pm
- | Commercial User | Joined Jul 2009 | 5,727 Posts
Here are a couple of cute posters I found on the Net that some will agree with and others not, the choice is yours. LOL
- #2,216
- Edited 3:45pm Oct 17, 2018 2:06pm | Edited 3:45pm
{quote} Looks good. I have been giving some thought to bringing back the Davit idea as a TS but maybe I could just put a button on the DB that would show you Davit suggestions and then you could build a basket with them, similar to the HAS button and the RSI button that will be in the next version. I am this week doing some testing of ideas with using the RSI to pick baskets and it looks good so far, still looking at ways to exit. The entries for the offline basket are right on and look very good, the hardest part is finding an exit that will keep...
When you showed your RSI tests previously. I thought that might be similar to what i am looking for. The TDI used in Davit idea has some RSI on it.
The offline baskets were also good with the Davit idea because it will tell me if a certain currency is on the move.
{quote} If you can could you post some screen shots of how you use Davit to make your picks, it needs to be a logical step by step without fuzzy logic. Have a nice day
1. Price arrived at S61 pivot level (only buys on this level). You can also see that the turn on that pivot level was on point.
2. TDI-RT is on the bottom level and showed signs it will head up. The cross of the 2 RSIs is a very good confirmation of the price's change of direction move.
3. I used 1.0 TP on this basket and that was completed. And as you can see, TDI-RT is not done on its move up.
EURJPY:
1. That is a rejection of the weekly pivot (WP).
2. TDI came from the top and had already crossed. This is a very good short setup.
I placed one order at Asia session. I added another short trade prior to London (before i went to bed).
I saw the profit this morning and actually added another short trade. I want to see what the 1.0 TP will do.
At first, i thought the TP is for every individual trade, so now i know its for the whole pair, meaning, regardless how many trades i add on the pair, it will close based on the TP amount showed on the DB.
And of course, with the setup on USDCAD, i looked for same direction entries on the other CAD pairs. Ditto for the other YEN pairs, when i saw the setup on EURJPY.
I am proud to say, this (basket trading) is what i learned from all those years hanging out on your thread LOLOL
When the internal struggle ends, everything becomes easy - Mr. Douglas
- #2,217
- Edited Oct 18, 2018 7:38am Oct 17, 2018 5:35pm | Edited Oct 18, 2018 7:38am
NZDJPY
I am now managing this trade.
Price rejected the R100 pivot. TDI-RT at the top. Very good signal for short trades.
I entered a short trade with the other YEN pairs yesterday.
So this morning, when I saw that the TDI-RT on H4 has good potential for more downward move, i decided not to close. Instead, added another short trade.
Calendar for this week has YEN on RED too, so movement on these pairs is a possibility.
It did not move this morning but tonight or tomorrow maybe.
I just added another short trade.
We'll see.
With Davit method, not 100% correct but at least you have a better idea where price is heading depending on the location of the price at the time you get a signal (price touches or near a pivot).
Just an idea.
If you can come up with something, i will be happy to test it.
Manual trading with Toolbox as trade manager, until then
UPDATE:
The price went up and i got stopped out by the 0.5 SL i placed. In hindsight, the best trade on this one is when price reached R100 and target should be R61.
Moving on to the next trade.
I am now managing this trade.
Price rejected the R100 pivot. TDI-RT at the top. Very good signal for short trades.
I entered a short trade with the other YEN pairs yesterday.
So this morning, when I saw that the TDI-RT on H4 has good potential for more downward move, i decided not to close. Instead, added another short trade.
Calendar for this week has YEN on RED too, so movement on these pairs is a possibility.
It did not move this morning but tonight or tomorrow maybe.
I just added another short trade.
We'll see.
With Davit method, not 100% correct but at least you have a better idea where price is heading depending on the location of the price at the time you get a signal (price touches or near a pivot).
Just an idea.
If you can come up with something, i will be happy to test it.
Manual trading with Toolbox as trade manager, until then
UPDATE:
The price went up and i got stopped out by the 0.5 SL i placed. In hindsight, the best trade on this one is when price reached R100 and target should be R61.
Moving on to the next trade.
When the internal struggle ends, everything becomes easy - Mr. Douglas
- #2,218
- Oct 17, 2018 6:11pm Oct 17, 2018 6:11pm
- | Commercial User | Joined Jul 2009 | 5,727 Posts
NZDJPY {image} I am now managing this trade. Price rejected the R100 pivot. TDI-RT at the top. Very good signal for short trades. I entered a short trade with the other YEN pairs yesterday. So this morning, when I saw that the TDI-RT on H4 has good potential for more downward move, i decided not to close. Instead, added another short trade. Calendar for this week has YEN on RED too, so movement on these pairs is a possibility. It did not move this morning but tonight or tomorrow maybe. I just added another short trade. We'll see. With Davit method,...
It may be a while yet as I am working on the RSI baskets, which look like they have promise, and since I have a one track mind I can only do one thing at a time.
Here is what I had done years ago and I see the pivots match up with yours, so thats a good start.
Thank You for your contributions.
- #2,220
- Oct 17, 2018 6:19pm Oct 17, 2018 6:19pm
{quote} Here is what I had done years ago and I see the pivots match up with yours, so thats a good start. {image}
Very good start!!!
When the internal struggle ends, everything becomes easy - Mr. Douglas