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Basket Knights - A Basket Trading Round Table

  • #161
  • Sep 8, 2019 7:53pm Sep 8, 2019 7:53pm
Quoting fmsfx
{quote} Refreshing to see like-minded Basket Trader Dave
Feel free to join us in our Skype channel.
  • #162
  • Sep 9, 2019 12:33am Sep 9, 2019 12:33am
Nothing has changed from last Friday.

M15 short still in play & H1 is looking like a breakout soon. H4 long remains active.

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Have a successful trading week.
  • #163
  • Sep 9, 2019 1:01am Sep 9, 2019 1:01am
Closed 7 wayward positions from my Buy basket for -185 pips (CHFJPY*3, USDCHF*2 and EURGBP*2). On their individual charts they are way past their healthy DC. I'm happy to re-enter if the m15 DC materializes.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #164
  • Sep 9, 2019 1:28am Sep 9, 2019 1:28am
Quoting TyLamai
Closed 7 wayward positions from my Buy basket for -185 pips (CHFJPY*3, USDCHF*2 and EURGBP*2). On their individual charts they are way past their healthy DC. I'm happy to re-enter if the m15 DC materializes. Regards and Stay fluid, Ty
It’s too much headache for me to deal individual pairs. I have gone past that now.

The index chart is already a summary of all of them. The pairs will take care of themselves.

I removed UsdChf from my trading and replaced with EurChf. UsdChf is often out of sync with the rest.

Trading the TFs independently with the 28/3 settings gives me the freedom to ignore the behavior of individual pairs. Whenever I get the runners, the harvest will compensate for the small losses in between. And I have CC for progressive add-ons.

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  • #165
  • Sep 9, 2019 4:16am Sep 9, 2019 4:16am
DC update.

Regards and Stay fluid,

Ty
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My job: I speculate and manage risk.
  • #166
  • Sep 9, 2019 4:45am Sep 9, 2019 4:45am
Fundies: Truths and Rumours.

"It was another rollercoaster ride for pound as the week started off more Brexit drama.
Over the weekend sources close to the PM suggested that he would ignore the current Parliament law that mandated Mr. Johnson to ask for an extension if no deal was done by the deadline. One possible scenario that was floated was to provide EU two letters - one asking for an extension and one to ignore it. However, such a ploy was immediately termed illegal by UK experts and would likely face challenges right away. Indeed some opposition leaders have called for an impeachment of the PM should he ignore the will of the Parliament something that has never occurred UK politics.
The latest maneuverings sent cable lower at the start of UK trade with pair dropping to 1.2233 at the start of London dealing only to see it rebound almost to the 1,2300 figure on news of opposition pushback to PM's machinations. Still, the trade in the pound remains highly volatile and headline-driven even as UK data continue to show weakness.
-----
Elsewhere the easing of RRR rate by the Bank of China provided a modicum of support for risk in late Asia trade with Aussie reversing earlier losses as it hit fresh multi-week highs at .6862. If there are further positive headlines on US-China trade talks then the pair could take a run at the .6900 figure as the day proceeds."
- Boris Schlossberg


Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #167
  • Sep 9, 2019 5:02am Sep 9, 2019 5:02am
I flipped the M15 trades and took some losses. The new long trades are in good profit already.
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I held on to my H4 trades
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H1 broke to the upside
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  • #168
  • Sep 9, 2019 5:21am Sep 9, 2019 5:21am
Quoting bishopdotun
I flipped the M15 trades and took some losses. The new long trades are in good profit already. {image} I held on to my H4 trades {image} H1 broke to the upside {image}
Fantastic!

One thing I love about basketting is that whatever losses occur are basically negligible in the grand scheme of things. The potential profits, when banked, completely eclipses any incurred losses.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #169
  • Sep 9, 2019 10:40am Sep 9, 2019 10:40am
Quoting TyLamai
{quote} Fantastic! One thing I love about basketting is that whatever losses occur are basically negligible in the grand scheme of things. The potential profits, when banked, completely eclipses any incurred losses. Regards and Stay fluid, Ty
I started basket trading with 6 pairs on 4htf.i wish to learn from you.i trade inverse correlated pairs,all majors and no croses at the moment.if the loss is above 10usd ,I start adding small lots like martingale until it is positive and 4htf is very promising.please suggest me ,thanks
  • #170
  • Sep 9, 2019 11:06am Sep 9, 2019 11:06am
Quoting T4Trade
{quote} I started basket trading with 6 pairs on 4htf.i wish to learn from you.i trade inverse correlated pairs,all majors and no croses at the moment.if the loss is above 10usd ,I start adding small lots like martingale until it is positive and 4htf is very promising.please suggest me ,thanks
Hi T4Trade,

Welcome to Basket Knights! Good to have you here. I'll send a reply to your PM shortly.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #171
  • Sep 9, 2019 11:08am Sep 9, 2019 11:08am
+166 pips and counting...the H4 Buy basket is still valid.

Regards and Stay fluid,

Ty
Attached Image
My job: I speculate and manage risk.
  • #172
  • Sep 9, 2019 11:11am Sep 9, 2019 11:11am
Quoting TyLamai
{quote} Hi T4Trade, Welcome to Basket Knights! Good to have you here. I'll send a reply to your PM shortly. Regards and Stay fluid, Ty
thank you sir,stay green!
  • #173
  • Sep 9, 2019 2:57pm Sep 9, 2019 2:57pm
please check if this is ok?thanks
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  • #174
  • Sep 9, 2019 3:09pm Sep 9, 2019 3:09pm
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  • #175
  • Sep 9, 2019 4:56pm Sep 9, 2019 4:56pm
Quoting T4Trade
please check if this is ok?thanks {image}
You are good to go T4Trade.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #176
  • Sep 9, 2019 5:00pm Sep 9, 2019 5:00pm
Quoting T4Trade
{image}
You see - just like I told you - a natural.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #177
  • Sep 9, 2019 7:29pm Sep 9, 2019 7:29pm
Fundies: Truths and Rumours.

RE: USD, AUD, and NZD
"On Friday, White House economic advisor Larry Kudlow said a phone call earlier in the week with China on trade "went very well" which could explain some of the optimism but until the tariffs are reduced or canceled, we are reluctant to believe any "talk" of progress. With that said, we are more than a week away from the Fed meeting, so unless there are negative trade headlines before then, USD/JPY losses could be limited while the Australian and New Zealand dollars could extend their gains."

RE: EUR
"This week is all about the euro. The European Central Bank meets on Thursday and for the most part, we expect the single currency to remain under pressure.
There are reports that Germany could create a "shadow budget" to increase public investments. This persistent hint of fiscal stimulus suggests that the Germans are pretty serious about avoiding a deep prolonged recession."

RE: GBP
"Sterling also traded higher after British lawmakers officially ruled out a no-deal Brexit. Britain will now be forced to return to the European Union to ask for a delay if there is no withdrawal agreement by October 19th.
UK labor market numbers are scheduled for release tomorrow and while we have every reason to believe that the data will be weak according to the PMIs, Brexit remains the main focus."
- Kathy Lien

Read and digest fundies - try to figure out how it might affect your basket chart (by way of dicounts, continuations, etc). Don't guess, don't try to predict the future. Position yourself to take advantage of Price action.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #178
  • Sep 9, 2019 7:51pm Sep 9, 2019 7:51pm
Quoting TyLamai
Fundies: Truths and Rumours. RE: USD, AUD, and NZD "On Friday, White House economic advisor Larry Kudlow said a phone call earlier in the week with China on trade "went very well" which could explain some of the optimism but until the tariffs are reduced or canceled, we are reluctant to believe any "talk" of progress. With that said, we are more than a week away from the Fed meeting, so unless there are negative trade headlines before then, USD/JPY losses could be limited while the Australian and New Zealand dollars could extend their gains." RE:...
May I know what news site are you using?
  • #179
  • Sep 9, 2019 11:41pm Sep 9, 2019 11:41pm
Quoting volumeprice
{quote} May I know what news site are you using?
Just google: Kathy Lien BK Asset Management

I am subscribed to their free mailing list.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #180
  • Sep 10, 2019 12:51am Sep 10, 2019 12:51am
Quoting TyLamai
Fundies: Truths and Rumours. RE: USD, AUD, and NZD "On Friday, White House economic advisor Larry Kudlow said a phone call earlier in the week with China on trade "went very well" which could explain some of the optimism but until the tariffs are reduced or canceled, we are reluctant to believe any "talk" of progress. With that said, we are more than a week away from the Fed meeting, so unless there are negative trade headlines before then, USD/JPY losses could be limited while the Australian and New Zealand dollars could extend their gains." RE:...
Learning a lot from you sir. This will stick what you said position yourself to take advantage of price action. Thanks for sharing
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