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Basket Knights - A Basket Trading Round Table

  • #201
  • Sep 10, 2019 5:45pm Sep 10, 2019 5:45pm
Quoting TyLamai
+264 pips and counting...the H4 Buy basket is still valid (if only I didn't have the dastardly USDCHF running! Lol) Regards and Stay fluid, Ty {image} {image}
It's +371 pips on another account where I don't have too many dastardly USDCHFs running!

I'm off to bed (I think) guys. For those awake during the Asian session proper, trade safe.

Regards and Stay fluid,

Ty

NB/PS:
Wouldn't it be lovely if the scheduled Westpac Consumer Sentiment goes the way of the AUD...
Attached Image
My job: I speculate and manage risk.
  • #202
  • Sep 10, 2019 5:58pm Sep 10, 2019 5:58pm
First long basket closed and trying #2. H4 is long but seems a bit stalled atm.
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K.I.S.S.
  • #203
  • Sep 10, 2019 6:05pm Sep 10, 2019 6:05pm
Quoting fmsfx
First long basket closed and trying #2. H4 is long but seems a bit stalled atm. {image}
Yup, it needs some juice to come back alive I think...or maybe it's done - who knows?

Nice bank you got there man - well done.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #204
  • Sep 10, 2019 8:38pm Sep 10, 2019 8:38pm
Quoting TyLamai
{quote} It's +371 pips on another account where I don't have too many dastardly USDCHFs running! I'm off to bed (I think) guys. For those awake during the Asian session proper, trade safe. Regards and Stay fluid, Ty NB/PS: Wouldn't it be lovely if the scheduled Westpac Consumer Sentiment goes the way of the AUD... {image}
Terrible Westpac Consumer Sentiment numbers (yeah I woke up for that!). This has affected AUD and NZD crosses as expected.

I took my NZDUSD positions into negative territory and I won't be holding unto that so I've closed NZDUSD * 2 positions for a -31 pips loss. I will re-enter if the market presents the opportunity. I prefer this to holding onto losses (like in my USDCHF scenario above). Since I'm not going to be awake, I have placed NU Buy pending orders @ 0.64223. I'm happy to re-enter at that price if I'm not here.

When I awake (I am asleep as I type this!) I will also close my AUDUSD positions IF they have retraced too deeply. For now they are still above water.

One of my EURJPY positions hit TP at +92 pips. This brings my total bank for tonight to +61 pips net.

The Buy basket is still valid on the H4. Price is retracing on the m15 for now. I'll re-evaluate in the morning (my time).

Regards and Stay fluid,

Ty
Attached Image
My job: I speculate and manage risk.
  • #205
  • Sep 11, 2019 12:31am Sep 11, 2019 12:31am
Is it just me or can you guys ALSO see how well basketting depicts the FORCE which can be applied when NATIONS unite?

When AUD & NZD tried to go it alone what happened?

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #206
  • Sep 11, 2019 1:01am Sep 11, 2019 1:01am
Quoting TyLamai
The following individual pairs are approaching their DCZs (if you've been paying attention, you'll know what I mean by this): AUDUSD & CHFJPY Once there, I will add-on or re-enter more Buy trades if Price Action agrees (*see sample image below). Please note that this is just how I (i.e. ME!) trade. You do not have to trade this way. Regards and Stay fluid, Ty {image} {image}
22 hours ago I posted this AUDUSD gameplan...Below's an update. Notice how throughout this time it never crossed my mind to sell.

I'll say it one more time: I Trade probabilities and I trade in the direction of the coalition of forces (a.k.a. the Core basket).

Regards and Stay fluid,

Ty
Attached Image (click to enlarge)
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My job: I speculate and manage risk.
  • #207
  • Sep 11, 2019 1:02am Sep 11, 2019 1:02am
Quoting fmsfx
First long basket closed and trying #2. H4 is long but seems a bit stalled atm. {image}
You should be happy now Dave...It got that much needed juice I think (at least for now).

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #208
  • Sep 11, 2019 1:06am Sep 11, 2019 1:06am
Stay sharp. A lot can change in a few hours. All of this happened within the timespan of just four hours.

Regards and Stay fluid,

Ty
Attached Image
My job: I speculate and manage risk.
  • #209
  • Sep 11, 2019 5:12am Sep 11, 2019 5:12am
Quoting TyLamai
Stay sharp. A lot can change in a few hours. All of this happened within the timespan of just four hours. Regards and Stay fluid, Ty {image}
Yep. And a lot has.

I have closed a few trades which were in negative territory: (EURUSD*2, and 2 more USDCHF dastardly trades). This added up to a total of (-200 pips loss (approx.)). Adding the +61 pips banked above to this, results in a net loss of -139 pips.

Like I said, I don't enjoy unnecessary floating losses if I can manage it.

Floating profit = +445 and counting...

The day is still young - we'll see.

Regards and Stay fluid,

Ty
Attached Images
My job: I speculate and manage risk.
  • #210
  • Sep 11, 2019 5:16am Sep 11, 2019 5:16am
Fundies: Truths and Rumours.

"The euro was starting to wobble in early European dealing today as the pair once again drifted towards the key 1,1000 level ahead of the very important ECB rate decision tomorrow.

In an otherwise quiet session with little news flow, the EURUSD was markedly weaker trading near the lows of the session as markets anticipated that the central bank would offer a new package of monetary stimulus that would include a rate cut and perhaps the resumption of QE.

Many market players are skeptical that any form of monetary stimulus would be of benefit to the region as the Eurozone does not suffer from the availability of credit or liquidity but rather demand. In fact, some the analysts have pointed out the paradox of easing could actually exacerbate the slowdown in growth as it would make EU rates even lower and thus make saving much more difficult,

In the EZ, unlike in US savers traditionally allocate the vast majority of their funds to fixed income instruments rather than equities. With rates already negative across the region, saving becomes even more difficult, requiring more and more capital thus dampening demand. More QE, therefore, creates a vicious rather a virtuous cycle with respect to growth and not only becomes ineffective but rather counterproductive.

Unfortunately, Mr. Draghi and the ECB council are constrained by the rules of the region which do not allow coordination between fiscal and monetary authorities. Over the past several months EU policymakers have become keenly aware of this problem and there may be some activity behind the scenes to create a much more united response to the problem. Any real action, however, will have to wait for Mr. Draghi's successor Ms. Legarde who is well skilled at building consensus across a wide swath of political institutions. For now, the markets may simply want to see if Mr. Draghi delivers a temporary shot of adrenaline to the financial system by reviving QE and repairing the balance sheets of the region's banking sector."
- Boris Schlossberg

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #211
  • Sep 11, 2019 8:31am Sep 11, 2019 8:31am
The bias is still long....

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  • #212
  • Sep 11, 2019 9:14am Sep 11, 2019 9:14am
I can see that in c14 all cad pairs are removed,is there any reason for it?

I am just asking questions to know this system very well,so I can pursue this strategy

has someone thought about using the dashboard? there are so many dashboards available to make trading decision.
  • #213
  • Sep 11, 2019 9:52am Sep 11, 2019 9:52am
Quoting T4Trade
I can see that in c14 all cad pairs are removed,is there any reason for it? I am just asking questions to know this system very well,so I can pursue this strategy has someone thought about using the dashboard? there are so many dashboards available to make trading decision.
Hello T4Trade,

Your first question about CAD pairs is beyond the scope of this thread. To understand why, you would have to go on an adventure to the DEEP past - the very beginning of Basket trading. I'll send you links that will help you on that journey.

For your second question about Dashboards, MANY basketters must have thought about it - I have no idea. BUT, like I said at the beginning, you can trade these baskets however way YOU choose. I don't use Dashboards but that doesn't mean that you or someone else can't. And IF you discover something while experimenting with Dashboards which you'll like to share, then please do as long as it has its foundation/basis on basket trading.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #214
  • Edited 1:07pm Sep 11, 2019 10:48am | Edited 1:07pm
Here is an indicator, I coded based on RSI strength of the C5 basket.

Green is: EUR, GBP, NZD, AUD and Red is USD, JPY.

ONLY FOR C5 BASKET.

Asw
Attached File(s)
File Type: ex4 ###C5_Strength_v1.00.ex4   22 KB | 423 downloads
  • #215
  • Sep 11, 2019 5:59pm Sep 11, 2019 5:59pm
Fundies: Truths and Rumours.

"The European Central Bank has many options including a rate cut, stronger forward guidance, a new program of asset purchases and compensation for banks to relieve the negative effects of negative interest rates. They prefer a combination of measures because they feel that a package is "more effective than a sequence of selective actions." The market expects a minimum of a 10bp rate cut. If the central bank combines this with rate tiering or a new Quantitative Easing program, EUR/USD will sell off aggressively but if all they do is cut rates and strengthen their low rate pledge, euro will soar in disappointment.

With the euro so weak, less aggressive measures could trigger a sharp short squeeze in the currency. Unfortunately, there's resistance to a package that includes QE - one of the strongest forms of easing. Bank of France Governor Villeroy is skeptical of the immediate need for QE while German and Dutchpolicy makers also believe its too early for the move. Given the market's lofty expectations, EUR/USD traders could be setting themselves up for disappointment. Draghi could also opt for a stimulus package that does not include the most aggressive measures to leave his successor Christine Lagarde with ammo to fight a deeper slowdown."
- Kathy Lien

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #216
  • Sep 11, 2019 6:30pm Sep 11, 2019 6:30pm
DC on m15

Regards and Stay fluid,

Ty
Attached Image (click to enlarge)
Click to Enlarge Name: w004c6. #TyC5#05M15.png Size: 53 KB
My job: I speculate and manage risk.
  • #217
  • Sep 11, 2019 7:17pm Sep 11, 2019 7:17pm
+566 pips and counting...the H4 Buy basket is still valid.

*Note that the total tally of this current Buy basket will only be known at the end of the bullish run.

Regards and Stay fluid,

Ty
Attached Image
My job: I speculate and manage risk.
  • #218
  • Sep 12, 2019 12:47am Sep 12, 2019 12:47am
Quoting TyLamai
Fundies: Truths and Rumours. "The European Central Bank has many options including a rate cut, stronger forward guidance, a new program of asset purchases and compensation for banks to relieve the negative effects of negative interest rates. They prefer a combination of measures because they feel that a package is "more effective than a sequence of selective actions." The market expects a minimum of a 10bp rate cut. If the central bank combines this with rate tiering or a new Quantitative Easing program, EUR/USD will sell off aggressively but if...
Today (my time) is the ECB Monetary Policy Statement and other EUR High Impact News releases and we've heard from the talking heads that the ECB "Could Disappoint".

I woke up to a basket filled with pips which I would NOT be happy to give back to the market. So I've decided to eliminate my RISK where ECB-related pairs are concerned. This includes EUR and GBP crosses.

While any decision made by the ECB could go the way of the Buy basket, I am more than CONTENT to sit this one out and re-enter at a better price like I did last week when I banked +758.

Regards and Stay fluid,

Ty
Attached Image (click to enlarge)
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My job: I speculate and manage risk.
  • #219
  • Sep 12, 2019 12:59am Sep 12, 2019 12:59am
+902 TOTAL pips Banked and +82 pips counting...the H4 Buy basket is still valid.

[Pip-Breakdown for the Current BUY Basket => +758 -185 +61 -200 -12 -49 -25 +554 = +902 pips banked]

The images below show the Before & After of today's pip-haul.

Regards and Stay fluid,

Ty
Attached Images
My job: I speculate and manage risk.
  • #220
  • Sep 12, 2019 2:58am Sep 12, 2019 2:58am
Hi Tylamai, starting basket trading today, but there is interruption on my M15 and H1 charts!
What could be the reason? It seems that there are some candles missing. but on normal charts every thing is ok .

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