Disliked{quote} The only options you need are enter and exit on colour change set to true and all others to false.Ignored
- #2,562
- Nov 15, 2018 9:56am Nov 15, 2018 9:56am
- | Joined Sep 2015 | Status: Trader | 1,863 Posts
{quote} Hi fairtraderuk, I started off setting an SL of 40 pips per pair in the basket eg if 5 pairs then 200 pips. Given that we cannot stipulate a pip SL you then need to work out the pip value for the pairs in your basket. For me, trading the Core5, it works out to 0.13 cents per pip per 0.01 lot so if trading each pair at 0.10 lots that equates to 1.30 per pip x 200 pips = $260 AUD That seems to get hit more often than not so now I prefer to not set a SL in the DB. I set a EL of 27.50 / 2.50 per 0.01 lot and I do NOT trail. This is to offset...
1) AUDUSD HAS, quick in and out early on Asian start:
2) GBP Manual BO lines set to catch any major swings, if I want to capture more of these swings, I will need to widen my EL settings:
3) HM60+1440HM quick in and out, avoiding the BRexit stuff.
4) Both my CORE5 HAS setups one 60min and one 30min, were caught the wrong way and bombed before the HAS colour changed stopped them out:
- #2,564
- Nov 15, 2018 10:35am Nov 15, 2018 10:35am
- | Commercial User | Joined Jul 2009 | 5,727 Posts
Missed this one.
- #2,567
- Nov 15, 2018 3:31pm Nov 15, 2018 3:31pm
- | Commercial User | Joined Jul 2009 | 5,727 Posts
{quote} Yes that was the technical structure, I did not want to get to close to the action, in case it gave a false move first, so flatten out the Trend Lines well away from the jumping around. With all the pairs in the GBP Basket having highest ATR rates, it can move big and fast. Two of HAS setups got caught with an early false move going the wrong way...
I have started to stay away from MAs and things like the HAS on H1 charts as they can lag or whip saw you, they are OK on longer time frames like daily but I don't like to wait that long so I have a tendency to play with H1 basket charts and watch for patterns and PA.
Here are some shots of that GBP basket where just for fun I thought I would do some testing with a new possible TS and see if it would retrace or pull back some some from its earlier BO that I missed. Normally I would not take any trades this close to the new day cross over but need to see if the TS is working the way I want it to. The one image shows that it looks like a pullback after the engulfing candle and BO was made, but so far it did reach a max pip move of 80.35 pips with a DD of -41.61 roughly so far. I will just let it run through the day change over and if nothing else looks good just let it run and see what happens.
On the offline basket charts I have a tendency to ignore the wicks and just do a line chart for placing my BO lines, that is why the yellow lines that show the BO I missed are lined up with a line graph that match up with closing prices. Sometimes it is much easier to see patterns and support and resistance when you look at a line chart, then I will switch to a candle chart and look for candle patterns, like in this case there is the engulfing one when the Long BO like was broken. In this case just for testing purposes I have placed a TP and trailing SL line and an EL in the DB.
- #2,571
- Nov 16, 2018 2:09am Nov 16, 2018 2:09am
[quote=seller9;11702566]
Ok thanks for clearing that up 
{quote} If your using the S9 Trend BO Basket TS just move them to where you want them and turn off the Auto draw BO Lines in the TS settings. In the S9 HAS Basket TS they are based on the fractals so can't be moved.
{quote} I tend to look more at price patterns and place BO lines where I think the price will go and if it breaks I then place a SL or a TP , I also may place an EL in the DB. I have started to stay away from MAs and things like the HAS on H1 charts as they can lag or whip saw you, they are OK on longer time frames like daily but I don't like to wait that long so I have a tendency to play with H1 basket charts and watch for patterns and PA. Here are some shots of that GBP basket where just for fun I thought I would do some testing with a new possible...
As usual you are hard at work I see, you're a champ. I keep checking back to see if you are looking at automating Davits weekly pivot trading system. I seen you were looking at a old TS using this a while back, did it pan out or have you given up on it?
Cheers
- #2,573
- Nov 16, 2018 10:10am Nov 16, 2018 10:10am
- | Commercial User | Joined Jul 2009 | 5,727 Posts
{quote} Hello Seller9 As usual you are hard at work I see, you're a champ. I keep checking back to see if you are looking at automating Davits weekly pivot trading system. I seen you were looking at a old TS using this a while back, did it pan out or have you given up on it? Cheers
Hopefully I will get to Davit one of these days.
- #2,576
- Nov 16, 2018 10:32am Nov 16, 2018 10:32am
- | Commercial User | Joined Jul 2009 | 5,727 Posts
[quote=fairtraderuk;11706263]
Just the short video and I believe there are some traders in this forum who are using it that may be able to shed some light on what they are doing.
I am working on a new TS that will be a very simple to use TS that will be geared towards BO lines used to trade baskets or single pairs.
This is what I am presently using and it works very well for me.
It will be a while before I release it, but in the time being you could use the trend BO TS.
{quote} Hi Gene I have not used S9 Trend BO Basket TS v3 to date but noticed the parameters are few and seemingly simple; are there any further resources on how to use this TS or a good starting point? Thanks
I am working on a new TS that will be a very simple to use TS that will be geared towards BO lines used to trade baskets or single pairs.
This is what I am presently using and it works very well for me.
It will be a while before I release it, but in the time being you could use the trend BO TS.
