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Basket Knights - A Basket Trading Round Table

  • #101
  • Sep 3, 2019 10:50am Sep 3, 2019 10:50am
Drilling down further into each of the pairs which make up the C12 basket, on an individual pair-by-pair basis, only AJ, AU, EGbuy, GU, NU, and UF have currently entered into their individual DZs...

Once I get a coalition of forces (I refer to that coalition as AGEAN => Aud, Eur, Gbp, and, Nzd) and a signal indicating that those forces are ready to attack in a particular direction, I will begin to release my ammunition. So far, the H4 Sell basket is still in place.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #102
  • Sep 3, 2019 4:27pm Sep 3, 2019 4:27pm
I like the current Discount Zone where the C5 sell basket is at right now.

So I'll release the first salvo of sell trades once m15 re-aligns with H4 (*I'll reserve the rest just in case more discounts are offered).

The point is that at this level even if I enter sell trades and H4 signals a Buy basket, my losses would me minimal. This is WHY I INSIST on getting discounts before considering re-entry trades. Trading in this way will test your patience EVERY time - but it's more that worth the wait every time it works out. Let's see if this is one of those times.

Regards and Stay fluid,

Ty
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My job: I speculate and manage risk.
  • #103
  • Sep 4, 2019 3:43am Sep 4, 2019 3:43am
Remember when I mentioned that great PATIENCE was required to trade the basket? Well...maybe now you have a tiny glimpse of it.

We are in the area where I consider to be no man's land: The area between Discounting and Shifting sentiment. On the C5 H4, price has entered the DZ. So the question now is are we going to get a Sell continuation? Or are we going to get a H4 Tidane change signaling a Buy basket? TIME will certainly tell.

Notice how the C5 m15 kept heading up like an arrow without retracing.
Then the C5 H1 took over and continued all the way up to the C5 H4's DZ.
A counter-trend trader's DREAM!

Consider also the slated fundies for the week which might also help with the retrace or shift I mention above. The next 3 days are frought with High impact news events. Why do I care? I am in the no man's land. The signal to continue with the sell basket or begin a fresh buy basket (both based on my C5 H4) may occur before, during, or after news - it doesn't matter eitherhow.

Regards and Stay fluid,

Ty
Attached Image(s) (click to enlarge)
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My job: I speculate and manage risk.
  • #104
  • Sep 4, 2019 4:51am Sep 4, 2019 4:51am
Patiently waiting for the turn
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New trend or reversal? Could just be noise.
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  • #105
  • Sep 4, 2019 5:14am Sep 4, 2019 5:14am
Quoting bishopdotun
Patiently waiting for the turn {image} New trend or reversal? Could just be noise. {image}
Yes patience is the watchword now. On the C12 H4 Tidane is already flashing green - BUT this present H4 candle will not close for another 3 hours so there's no rush. A lot can happen in 3 hours.

This can be:
- A wicked trap from MMs
OR
- We ask ourselves WHAT is shifting the sentiment to Risk On? What is the reason for AUD+EUR+GBP+NZD strength OR USD+JPY weakness?

Nevertheless I'll follow the H4 as usual - good or bad. That's what it means to be fluid.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #106
  • Sep 4, 2019 5:23am Sep 4, 2019 5:23am
Quoting TyLamai
We ask ourselves WHAT is shifting the sentiment to Risk On? What is the reason for AUD+EUR+GBP+NZD strength OR USD+JPY weakness?
Here are some WHATs:

"A series of positive events across the globe sparked some risk on flows in FX with European equities rising by more than 1% on improved market sentiment while yen pairs all rallied.

Perhaps the most important geopolitical action in overnight trade was the announcement by Hong Kong Chief Executive Carie Lam that she is formally withdrawing the extradition bill from HK Parliament. The move was a major win for the protesters and more importantly, will likely cool the tensions that have gripped the city for the past two months sparking fears of Chinese intervention.

Meanwhile, in the UK the prospect of a no-deal Brexit has been greatly reduced after Parliament took control of the agenda effectively stopping PM Johnson from unilaterally leaving the EU. The next 24 hours will bring in a lot of jockeying as opposition MPs make sure that this legislation is confirmed into law before allowing any vote on a snap election to take place.

If Mr. Johnson does get his way with an early election its far from clear if he will, in fact, win it. Mr. Johnson's bet is that the current 9% lead that he holds will allow him to achieve the electoral mandate with his Brexit plans, but with the UK economy quickly heading into recession, the electorate may have second thoughts about proceeding with no-deal Brexit plans.

Assuming the no-confidence vote goes through the focus in pound trading will be driven by polls most specifically by the performance of Liberal Democrats which are shaping up as the main anti-Brexit opposition vote and could end up with the role of kingmaker should they perform well. For now, however, the relief over the thwarting of no-deal Brexit has put the bid into cable which looks like it could make a run to 1.2200 as the day progresses" - Boris Schlossberg.

*But keep it in mind: Truth and Rumours...Take all of this with a grain of salt.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #107
  • Sep 4, 2019 7:16am Sep 4, 2019 7:16am
Right back to my MN low area. If this turns Long it will take alot and it will be slow starting as this is H4. Just IMO.

Dave
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K.I.S.S.
  • #108
  • Sep 4, 2019 7:47am Sep 4, 2019 7:47am
Quoting fmsfx
Right back to my MN low area. If this turns Long it will take alot and it will be slow starting as this is H4. Just IMO. Dave {image}
I lean more towards the same sentiment.

I've mentioned it severally above that I kinda favour a Sell basket based solely on the prevailing sentiment at the moment in the markets - which is bleak across board.

So even if I get a signal on the H4 to buy I might wait for a retracement before opening a Buy basket.

Thank you for your contribution Dave.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #109
  • Sep 4, 2019 8:12am Sep 4, 2019 8:12am
H4 Candle close and the C5 Sell basket is still in place. Like I said: "A lot can happen in 3 hours."

The reason I am doing all this posting is so that I can share with you guys how I trade real-time - what I am thinking and considering as the market moves. This is not some "after the fact" sharing where I'll come and show you a nice, juicy, entry point in retrospect (although that works too for some people I guess - No right or wrong).

Regards and Stay fluid,

Ty
Attached Image (click to enlarge)
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My job: I speculate and manage risk.
  • #110
  • Sep 4, 2019 10:10am Sep 4, 2019 10:10am
Quoting TyLamai
H4 Candle close and the C5 Sell basket is still in place. Like I said: "A lot can happen in 3 hours." The reason I am doing all this posting is so that I can share with you guys how I trade real-time - what I am thinking and considering as the market moves. This is not some "after the fact" sharing where I'll come and show you a nice, juicy, entry point in retrospect (although that works too for some people I guess - No right or wrong). Regards and Stay fluid, Ty {image}
Still waiting...
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  • #111
  • Sep 4, 2019 12:03pm Sep 4, 2019 12:03pm
My C5 H4 basket Tidane has just signaled a Buy basket.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #112
  • Sep 4, 2019 12:34pm Sep 4, 2019 12:34pm
Quoting TyLamai
My C5 H4 basket Tidane has just signaled a Buy basket. Regards and Stay fluid, Ty
See below image for my game plan.

*Note: Usually I would deploy my first level Buys once the C5 H4 signals a Buy basket but based on all I've written about above, I'm waiting for retracements to take any Buy trades.

Regards and Stay fluid,

Ty
Attached Image (click to enlarge)
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My job: I speculate and manage risk.
  • #113
  • Sep 4, 2019 3:00pm Sep 4, 2019 3:00pm
Very good job ! Hope to do same performance one day.
  • #114
  • Sep 4, 2019 3:02pm Sep 4, 2019 3:02pm
Quoting TyLamai
My C5 H4 basket Tidane has just signaled a Buy basket. Regards and Stay fluid, Ty
Still waiting.....
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Ideally, we should get a retrace (sell) on M15 and then another buy signal at which time H4 should have signalled long.
....but you never know. So wait.
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  • #115
  • Sep 4, 2019 3:26pm Sep 4, 2019 3:26pm
Quoting bishopdotun
{quote} Still waiting..... {image} Ideally, we should get a retrace (sell) on M15 and then another buy signal at which time H4 should have signalled long. ....but you never know. So wait. {image}
Hmmmm...

Maybe your Tidane setting is different from mine? Or maybe it's a Broker-Candle issue?

Anyway, below are my own C5/C12/C14 H4 charts - They ALL have already signaled a Buy basket.

Regards and Stay fluid,

Ty
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My job: I speculate and manage risk.
  • #116
  • Sep 4, 2019 5:37pm Sep 4, 2019 5:37pm
Quoting TyLamai
{quote} Hmmmm... Maybe your Tidane setting is different from mine? Or maybe it's a Broker-Candle issue? Anyway, below are my own C5/C12/C14 H4 charts - They ALL have already signaled a Buy basket. Regards and Stay fluid, Ty {image} {image} {image}
Hi Ty Lamai I am having the same probleme that Asw had when trying to extract the files i tried everything please help i will love to try your system out
  • #117
  • Sep 4, 2019 6:14pm Sep 4, 2019 6:14pm
Quoting totustuus
{quote} Hi Ty Lamai I am having the same probleme that Asw had when trying to extract the files i tried everything please help i will love to try your system out
Did you try the solution which worked and was posted here here?

https://www.forexfactory.com/showthr...4#post12476214

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #118
  • Sep 5, 2019 4:23am Sep 5, 2019 4:23am
Go..Go...Go...

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  • #119
  • Sep 5, 2019 4:44am Sep 5, 2019 4:44am
Buy basket = +455 pips...and counting. (*See images below).

Regards and Stay fluid,

Ty
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Attached Image
My job: I speculate and manage risk.
  • #120
  • Sep 5, 2019 6:28am Sep 5, 2019 6:28am
Buy basket = +156 pips Banked so far with +523 pips still floating.

When we decided to open this basketting thread we had hoped for more interaction from basket traders...so far this has not been the case. It would seem that not a lot of traders are interested in basket trading - or maybe basket traders are simply no longer in the game.

A curious thing indeed - having a profitable system which yeilds lots of pips and yet...

Regards and Stay fluid,

Ty
Attached Image
My job: I speculate and manage risk.
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