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Basket Knights - A Basket Trading Round Table

  • #121
  • Sep 5, 2019 6:42am Sep 5, 2019 6:42am
So far nothing for me but I'm using the old school settings which have always been a bit slow. I can wait. H4/M15 side-by-side

Dave
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K.I.S.S.
  • #122
  • Sep 5, 2019 8:11am Sep 5, 2019 8:11am
Buy basket = +217 pips Banked so far with +528 pips still floating.

As much as possible I would like to be out of this basket before tomorrow's Reds and also before the weekend - if possible.

Regards and Stay fluid,

Ty
Attached Image
My job: I speculate and manage risk.
  • #123
  • Sep 5, 2019 8:28am Sep 5, 2019 8:28am
Buy basket = +415 pips Banked so far with +355 pips still floating.

I have drastically REDUCED my USD exposure - I only have 2 USDCHF positions running now with the rest being non-USD pairs.

Regards and Stay fluid,

Ty
Attached Image
My job: I speculate and manage risk.
  • #124
  • Sep 5, 2019 8:37am Sep 5, 2019 8:37am
Quoting TyLamai
Buy basket = +415 pips Banked so far with +355 pips still floating. I have drastically REDUCED my USD exposure - I only have 2 USDCHF positions running now with the rest being non-USD pairs. Regards and Stay fluid, Ty {image}
You don't go all the way with H4 signal?

The H4 signal stability is matchless. I will definitely hold it out. There is a lot of room to the upside.

Instead, I will edge with H1 and M15 reversals if I see one. Overall, there is still a lot of momentum behind this.

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  • #125
  • Sep 5, 2019 8:38am Sep 5, 2019 8:38am
Hi.

Finally I catched an active Basket Trading thread.
I would like to join the chat group. Attached is my screenshot
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  • #126
  • Sep 5, 2019 8:41am Sep 5, 2019 8:41am
May I know what is this indicator you guys are using to show current profit?
Attached Image
  • #127
  • Sep 5, 2019 8:58am Sep 5, 2019 8:58am
Quoting bishopdotun
{quote} You don't go all the way with H4 signal? The H4 signal stability is matchless. I will definitely hold it out. Instead, I will edge with H1 and M15 reversals.
Yes BD you are VERY correct about the H4 signal being matchless - that is why I trade off of the H4.

But No, I hardly ever do that. From (my own) experience once I have a basket going, zooming into the individual pairs to re-enter/add-on/exit at key points within that pair's chart has proven to be the most BALANCED way to trade the basket.

Yes, it is more work but what I gain by way of lower DD and more efficiency on a pair-by-pair basis is worth it. For example, I am now at peace where the USD news is concerned: If it helps the Buy basket, I would find a place to re-enter a few more trades and if it doesn't then I would have banked some very good pips and potentially have BETTER prices to re-enter more Buys - ALL as long as the H4 retains the Buy basket signal of course.

In the earlier days of basket trading, we simply aimed for 1000 pips and called it a day. The reasoning for this was that many times it was discovered that a lot of pips were being left on the table and, in comparison, there were not too many of those CRAZY 3,000+ pip runs. So all-in-all I do the above for efficiency and peace of mind. Plus, the pips do add up.

Also: For some reason I just don't trust this Buy basket so much - Lol!

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #128
  • Sep 5, 2019 9:12am Sep 5, 2019 9:12am
Buy basket = +758 pips Banked so far with +45 pips still floating.

Only 2 USDCHF positions and 2 CHFJPY positions are left running now. Everything else is banked for now.

Regards and Stay fluid,

Ty
Attached Image
My job: I speculate and manage risk.
  • #129
  • Sep 5, 2019 9:12am Sep 5, 2019 9:12am
Quoting TyLamai
{quote} Yes BD you are VERY correct about the H4 signal being matchless - that is why I trade off of the H4. But No, I hardly ever do that. From (my own) experience once I have a basket going, zooming into the individual pairs to re-enter/add-on/exit at key points within that pair's chart has proven to be the most BALANCED way to trade the basket. Yes, it is more work but what I gain by way of lower DD and more efficiency on a pair-by-pair basis is worth it. For example, I am now at peace where the USD news is concerned: If it helps the Buy basket,...
I had a different perspective. I followed KOS approach for a while. I kept trading Baskets until the Basket indicator stopped working last year.

I trade H4, H1 and M15 all independently and we would have arrived at nearly the same result. Where one isn't doing well, the other would make up and you can balance the books.

See you on the other side of H4. The risk of no-deal brexit has greatly reduced. Any positive news in the market now makes the basket look really good.

I will hedge by positions on M15/H1 if any red news drives the basket down.

Cheers.
  • #130
  • Sep 5, 2019 9:19am Sep 5, 2019 9:19am
Quoting bishopdotun
{quote} I had a different perspective. I followed KOS approach for a while. I kept trading Baskets until the Basket indicator stopped working last year. I trade H4, H1 and M15 all independently and we would have arrived at nearly the same result. Where one isn't doing well, the other would make up and you can balance the books. See you on the other side of H4. The risk of no-deal brexit has greatly reduced. Any positive news in the market now makes the basket look really good. I will hedge by positions on M15/H1 if any red news drives the basket...
This is EXACTLY what I've been hoping that basket knights would GET from the BEGINNING of this thread!

Not only is there no right or wrong way to trade the baskets, BUT in rubbing minds together and sparing with our swords, we would SHARPEN each other to our collective benefit.

Like I said BD - it's a pleasure having you here - I've ALREADY learnt something new.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #131
  • Sep 5, 2019 9:57am Sep 5, 2019 9:57am
m15 offline chart (from the H4 Buy basket): The story so far...

Below's what I'd like to see - can't say I will though but come on, a guy can hope no?

Regards and Stay fluid,

Ty
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My job: I speculate and manage risk.
  • #132
  • Sep 5, 2019 11:09am Sep 5, 2019 11:09am
Quoting volumeprice
May I know what is this indicator you guys are using to show current profit? {image}
Hello volumeprice,

I apologize for the late reply but I honestly did not see your posts at all until just now. Strange.

Anyway, welcome to the Basket Knights' round table. The answer to your question can be found by visiting the link below.

https://www.forexfactory.com/showthr...4#post12474524

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #133
  • Sep 5, 2019 11:16am Sep 5, 2019 11:16am
Quoting volumeprice
Hi. Finally I catched an active Basket Trading thread. I would like to join the chat group. Attached is my screenshot {image}
Tried to send you a PM but couldn't. Maybe your settings?

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #134
  • Sep 5, 2019 4:00pm Sep 5, 2019 4:00pm
Calling it a night.

-57pips floating with SLs squarely in place.

Regards and Stay fluid,

Ty
Attached Image
My job: I speculate and manage risk.
  • #135
  • Sep 5, 2019 6:54pm Sep 5, 2019 6:54pm
M15 Longs still in place

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  • #136
  • Sep 6, 2019 3:23am Sep 6, 2019 3:23am
Fundies: Truths and Rumours.

"Based on the rally in the US dollar today, investors are betting on a strong jobs report.

Yet there are 5 good reasons why the jobs report could disappoint...

USD/JPY ended the NY session not far from 107. If payrolls rise by 150K or less, the pair could sink back down to 106 as traders position for easing by the Fed later this month. Alternatively, if payrolls rise by 180K or more, USD/JPY should extend its gains above 107.50. Average hourly earnings and the unemployment rate are just as important as non-farm payrolls - for a sustainable move in the greenback, we need to see stronger job growth supported by steady earnings or weaker job growth exacerbated by lower wages. With the ECB expected to ease next month, EUR/USD would probably be hurt the most by a good US jobs report. On the other hand, if the data is weak AUD/USD could also be an attractive long.

Arguments in Favor of Stronger Payrolls
1. Challenger reports 39% increase in layoffs compared to 43.2% the previous month
2. ADP rises to 195K vs. 142K the previous month
3. Continuing Claims drops to 1.66M from 1.72M

Arguments in Favor of Weaker Payrolls
1. Employment component of services ISM weakest since March 2017
2. Employment component of manufacturing ISM weakest since March 2016
3. 4 Week Moving Average rises to 216K from 212K
4. University of Michigan Consumer Sentiment index falls most since 2012
5. Conference Board index slips slightly to 135.1 from 135.8
"
- Kathy Lien

Expect more of these back and forths until close to the High impacts and NYO. The result for now is a comatose basket as envisioned on the m15.

Regards and Stay fluid,

Ty
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My job: I speculate and manage risk.
  • #137
  • Sep 6, 2019 3:59am Sep 6, 2019 3:59am
Sentiment is still bullish.....

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but slowing down gradually. We may get some reversal though. I will hedge my positions if M15 turns bearish.

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Trade responsibly...
  • #138
  • Sep 6, 2019 4:05am Sep 6, 2019 4:05am
Quoting bishopdotun
Sentiment is still bullish..... {image} {image} but slowing down gradually. We may get some reversal though. I will hedge my positions if M15 turns bearish. {image} Trade responsibly...
Yes the H4 Buy is still in place. I am actually hoping for a retrace to have the opportunity to reenter some longs. We'll see how it plays out.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #139
  • Sep 6, 2019 8:05am Sep 6, 2019 8:05am
Quoting TyLamai
{quote} Yes the H4 Buy is still in place. I am actually hoping for a retrace to have the opportunity to reenter some longs. We'll see how it plays out. Regards and Stay fluid, Ty
Selective basketing mode. The listed pairs got decent discounts:
CHFJPY, EURGBP, EURUSD, USDCHF

Regards and Stay fluid,

Ty
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My job: I speculate and manage risk.
  • #140
  • Sep 6, 2019 8:11am Sep 6, 2019 8:11am
Quoting TyLamai
{quote} Selective basketing mode. The listed pairs got decent discounts: CHFJPY, EURGBP, EURUSD, USDCHF Regards and Stay fluid, Ty {image}
I am waiting for the green arrow in M15 before entering at GJ 15M
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