Basket Knights - A Basket Trading Round Table | Page 23 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

AUD/JPY, EUR/USD, CHF/JPY, EUR/GBP, EUR/JPY, GBP/CHF, GBP/JPY, GBP/USD, NZD/JPY, NZD/USD, USD/CHF, AUD/USD

Similar Threads

BASKET TRADE Management: Using multiple trade management EA's on basket trades 11 replies

Trading 8 Forex Pairs - Fully Automatic - Basket Trading 7 replies

TMS basket: Dashboard for a basket of MA-Filtered RSI Signals 135 replies

Hedge,Basket, Trading Calculation How to 15 replies

Currency Basket and Carry Trading 51 replies

Attachments: Basket Knights - A Basket Trading Round Table
Exit Attachments

Basket Knights - A Basket Trading Round Table

  • #441
  • Oct 1, 2019 3:56am Oct 1, 2019 3:56am
@ Ty
Please do I pollute your thread by publishing this idea here?
I use your's 7 Symbols, but because a little different than you with strength momentum.
If yes, I stop immediatly my posts with this

Cheers friend
jf
  • #442
  • Oct 1, 2019 4:17am Oct 1, 2019 4:17am
Quoting le celte
@ Ty Please do I pollute your thread by publishing this idea here? I use your's 7 Symbols, but because a little different than you with strength momentum. If yes, I stop immediatly my posts with this Cheers friend jf
Quote
What I want is for everyone to get up and running with the offline chart of their choice, dress up their offline charts with whatever indicator they feel comfortable with (I don't care how many), and then share their trade setups with the members if they like.

Not at all jf! As you can see from my quote above (from Post#1) you are in line with what the whole point of this thread is about. Post away.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #443
  • Oct 1, 2019 4:27am Oct 1, 2019 4:27am
Quoting TyLamai
{quote} +136 banked (-45 floating) Regards and Stay fluid, Ty {image}
+52 pips banked (-208 pips floating). C12 H4 Sell basket is still valid (for now).

As you may have observed, this present Sell basket is going nowhere FAST. Not surprising though all things considered: No UNIFYING force in effect at the moment. Which is why I have Counter-Basket trades running on certain pairs simultaneously.

This is the time in Basket trading when patience is required...It will ALL realign in due course.

Meanwhile, MANAGE your equity wisely...

Regards and Stay fluid,

Ty
Attached Image
My job: I speculate and manage risk.
  • #444
  • Oct 1, 2019 4:59am Oct 1, 2019 4:59am
Fundies: Truths and Rumours.

"The RBA cut rates by 25bp taking the benchmark rate to an all-time low of 75bp as the central bank remained concerned about the downside risks in the global economy. The news helped to push Aussie to the .6700 figure where it found a modicum of support in early European trade.

The RBA stated that "While the outlook for the global economy remains reasonable, the risks are tilted to the downside. The US-China trade and technology disputes are affecting international trade flows and investment as businesses scale back spending plans because of the increased uncertainty.

The Australian economy expanded by 1.4 percent over the year to the June quarter, which was a weaker-than-expected outcome. A gentle turning point, however, appears to have been reached with economic growth a little higher over the first half of this year than over the second half of 2018."

The modestly dovish tone of the statement suggested that RBA was open to further rate cuts but only if growth slowed further. Given the emphasis on "gentle turning point" AU monetary authorities are clearly hoping to hold rates at the current level for the foreseeable future.

Aussie traded down to .6700 but that level represents a triple support area and given that the rate cut was expected it's unlikely the pair will move much lower on current news unless US-China trade tensions and general risk flows worsen.

In the UK, PM Johnson made an announcement that his government will have a fresh proposal for the EU on the Northern Ireland border. Although Mr. Johnson refused to release the details just yet, he insisted that this was a substantively new approach.
Most likely Mr. Johnson will propose some sort of "soft border" that will rely on technology rather physical barriers to enforcing customs regulations and it remains to be seen if EU will even consider such a compromise, but cable popped on the news through the 1.2300 level but stalled at that figure for the time being.

We have long argued that Brexiteers desperate for a deal will ditch the NI border issue in order to ensure that Brexit goes through and it appears that Mr. Johnson is clearly moving in that direction which should be mildly supportive of cable for now, but markets will want to see signs of progress before reacting more to the news.

In North America, the docket contains US ISM Manufacturing data with the market looking for a return to expansion." - Boris Schlossberg


Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #445
  • Oct 1, 2019 5:52am Oct 1, 2019 5:52am
Quoting TyLamai
{quote} +52 pips banked (-208 pips floating). C12 H4 Sell basket is still valid (for now). As you may have observed, this present Sell basket is going nowhere FAST. Not surprising though all things considered: No UNIFYING force in effect at the moment. Which is why I have Counter-Basket trades running on certain pairs simultaneously. This is the time in Basket trading when patience is required...It will ALL realign in due course. Meanwhile, MANAGE your equity wisely... Regards and Stay fluid, Ty {image}
High level talks b/w China and US on October 8 is calming the market. GBP seems soft brexit is possible yet uncertain so mixed, so I am ignoring it for now. AUD is showing signs of trouble so I am trading this once pulled back. EUR is approaching recession with Germany leading the way, i am riding this with good R/R so far. NZD is definitly a short because of its current troubles. I am riding this too with good R/R. JPY showed some hints of easing but strongest so i ride JPY pairs.
  • #446
  • Oct 1, 2019 6:36am Oct 1, 2019 6:36am
And finaly 7 EUR above resistance (horizontal purple)
Take it à Blue vertical line
Running and > 35 pips so EA Manager is BE protect now


EDIT : Ok EA Manager close 7 EU at BE
So 2 x 70 pips and 2 at BE = 140 pips nets
Not so bad for an half day on TF 15 ?!
Attached Image (click to enlarge)
Click to Enlarge Name: Ty TF 15 EUR.JPG Size: 114 KB
  • #447
  • Oct 1, 2019 8:48am Oct 1, 2019 8:48am
The H1 support gave way finally..... -120 pips loss. I flipped the trades and recovered it.

H1
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2019-10-01 at 15.43.59.png Size: 924 KB


H4
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2019-10-01 at 15.44.17.png Size: 873 KB
  • #448
  • Oct 1, 2019 9:07am Oct 1, 2019 9:07am
Bad news on the US PMI, Manufacturing and construction. USD pairs are reversing. I pulled out my USD trades.
Attached Image
  • #449
  • Oct 1, 2019 9:14am Oct 1, 2019 9:14am
Quoting volumeprice
Bad news on the US PMI, Manufacturing and construction. USD pairs are reversing. I pulled out my USD trades. {image}
At this point, traders have no where to go except JPY. Which I think explains why JPY pairs are suddenly exploding.
  • #450
  • Oct 1, 2019 9:23am Oct 1, 2019 9:23am
Quoting TyLamai
{quote}This is the time in Basket trading when patience is required...It will ALL realign in due course.
Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #451
  • Oct 1, 2019 9:28am Oct 1, 2019 9:28am
Quoting volumeprice
Bad news on the US PMI, Manufacturing and construction. USD pairs are reversing. I pulled out my USD trades. {image}
Reversing OR DC-ing? "Knowing" which (sometimes) can help you maximize a Basket move. One (1) "bad" News event usually cannot move/reverse the basket.

Nevertheless, profit is profit.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #452
  • Oct 1, 2019 9:38am Oct 1, 2019 9:38am
Quoting TyLamai
{quote} Reversing OR DC-ing? "Knowing" which (sometimes) can help you maximize a Basket move. One (1) "bad" News event usually cannot move/reverse the basket. Nevertheless, profit is profit. Regards and Stay fluid, Ty
I always trade with the basket. But I pick only those with good fundamentals. I dont do DC currently too, I play breakout of the consolidation that is inline with the basket and with good fundamentals.
  • #453
  • Oct 1, 2019 9:46am Oct 1, 2019 9:46am
Quoting volumeprice
{quote} I always trade with the basket. But I pick only those with good fundamentals. I dont do DC currently too, I play breakout of the consolidation that is inline with the basket and with good fundamentals.
Okay VP, good but please remember that "fundies" ALSO consist of RUMOURS...many times they are used to get traders to behave in a certain (predictable) manner. Which is is the whole reason WHY Basket trading was created in the first place.

Anyway, I drilled deeper into the individual pairs which make up the C12 basket and I can see that ONLY EU currently qualifies to be termed a DC trade (in line with how I (i.e. me) trade). But like I always say: No right or wrong way. Does it get you Money in the Bank? If yes, then it is good.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #454
  • Oct 1, 2019 12:38pm Oct 1, 2019 12:38pm
Quoting le celte
And finaly 7 EUR above resistance (horizontal purple) Take it à Blue vertical line Running and > 35 pips so EA Manager is BE protect now EDIT : Ok EA Manager close 7 EU at BE So 2 x 70 pips and 2 at BE = 140 pips nets Not so bad for an half day on TF 15 ?! {image}
hi le celte,
can you share your script or EA for 7 pairs EUR?
and what pair you use as your base chart for creating offline chart? currently i use GJ in 14 pairs.
  • #455
  • Oct 1, 2019 3:43pm Oct 1, 2019 3:43pm
Quoting howard
{quote} Thanks, I did change the 5 pairs in the script adding the suffix but the message is still the same "this script opened 0 trades"
Hi Howard, did you ever find a solution to this error message?

I am experiencing same obstacle.

Regards
MS
  • #456
  • Oct 1, 2019 5:12pm Oct 1, 2019 5:12pm
Quoting TyLamai
{quote} +52 pips banked (-208 pips floating). C12 H4 Sell basket is still valid (for now)... Regards and Stay fluid, Ty {image}
+399 pips Banked (with no open trades).

Total tally for this present Sell basket (which is still valid by the way) = +652 pips (from last week) +399 pips = 1,051 pips banked (with A LOT of headache!).

I'll wait for a valid DC to open more trades. I'm hoping for MUCH smoother trading ahead - this present chaos is too much stress.

Regards and Stay fluid,

Ty
Attached Image
My job: I speculate and manage risk.
  • #457
  • Oct 1, 2019 8:45pm Oct 1, 2019 8:45pm
Quoting MSuccess
{quote} Hi Howard, did you ever find a solution to this error message? I am experiencing same obstacle. Regards MS
try change the magic number, it won't open a new trade if other trade exist with same magic number.
  • #458
  • Oct 2, 2019 4:16am Oct 2, 2019 4:16am
Quoting TyLamai
{quote}...I'll wait for a valid DC to open more trades. I'm hoping for MUCH smoother trading ahead - this present chaos is too much stress. Regards and Stay fluid, Ty {image}
+98 pips Banked...(+424 pips floating). H4 Sell basket still valid.

Regards and Stay fluid,

Ty
Attached Image
My job: I speculate and manage risk.
  • #459
  • Oct 2, 2019 4:30am Oct 2, 2019 4:30am
Fundies: Truths and Rumours.

"Dollar Demand Vanishes on Ugly Data
With the exception of euro and sterling, all of the major currencies traded lower today against the greenback with the Australian dollar lead the slide. The Reserve Bank of Australia cut interest rates for the third time this year to a record low of 0.75% but the big story is the near term top in greenback.

The US dollar started the NY session firm against all major currencies and at multi-year highs versus the euro but it u-turned after ISM. According to the latest report, factory activity hit its weakest level in 10 years. Manufacturing activity contracted for the second month in row with the index slipping to 47.8 from 49.1. This deterioration raises concerns about how weaker global growth is affecting the US economy and by extension the labor market.

Although manufacturing employment is a separate line item in Friday's jobs report, the fact that the employment index dropped to its lowest level since 2016 is a red flag for the economy and jobs. We'll know more when the service sector report is released on Thursday but for now today's report changed the course for the dollar by setting expectations for a soft release. Aside from the pullback in the dollar, Treasury yields turned negative and the Dow tumbled more than 300 points.

If Wednesday's ADP report misses expectations, we could see a more significant sell-off that could drive USD/JPY below 107.50. " - Kathy Lien


Just thought I should give an example for WHY I refer to Fundies as "Truths and Rumours"...

So, yesterday we "heard" that: "Dollar Demand Vanished due to Ugly Data"...Now, look at your charts (particularly USD crosses) and tell me if that is the case as at this morning...?

So what happened? Did traders just SUDDENLY decided that the "Data released yesterday isn't UGLY any longer?"

Like I usually advice, use these so-called News releases to take advantage of the market.

*Remember: ADP Non-Farm Employment Change News event up ahead.


Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #460
  • Oct 2, 2019 4:34am Oct 2, 2019 4:34am
Quoting TyLamai
Fundies: Truths and Rumours. "Dollar Demand Vanishes on Ugly Data With the exception of euro and sterling, all of the major currencies traded lower today against the greenback with the Australian dollar lead the slide. The Reserve Bank of Australia cut interest rates for the third time this year to a record low of 0.75% but the big story is the near term top in greenback. The US dollar started the NY session firm against all major currencies and at multi-year highs versus the euro but it u-turned after ISM. According to the latest report, factory...
Thanks Ty. Lesson learned.

I only gained 1.5% today as my Tokyo morning trade got stopped out. I entered too early before the run. Recovered everything plus more though.
0 traders viewing now