Basket Knights - A Basket Trading Round Table | Page 27 | 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

  • #521
  • Oct 8, 2019 9:11am Oct 8, 2019 9:11am
Quoting aaven
{quote} Ty, For a current signal on 4HR chart- how many levels of orders do you execute? I mean, you talked about conserving your ammunition- As per the broker- i am testing- the C5-H4 gave a sell signal on 20th September-One enters a basket of sell orders-Level 1- Market can present multiple re-entry opportunities-so another set of sell orders-Level 2- so, like that- what is the maximum number of level you would entertain? I apologize if this already been answered- as i have still some reading to do... Thanks
Hi aaven,

There is no "cast-in-stone", maximum number of re-entry levels. I generally re-enter as often as I have re-entry opportunities (higher/lower) than my initial (i.e. the first) open position. I also do so based on my account size and available resources.

One thing I do (and this can be viewed from most of the images I have attached, is I ONLY consider entering new levels after a visible DC (discount-Continuation) on m15/H1. What this does is help me avoid too many positions in one pair AND also offers the "best" possible discount price just in case of a signal change on the H4.

*NOTE: I will only re-enter as long as the H4 basket is still showing a valid signal in said direction.

I hope I answered your question.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #522
  • Oct 8, 2019 9:14am Oct 8, 2019 9:14am
Quoting TyLamai
{quote} Hi aaven, There is no "cast-in-stone", maximum number of re-entry levels. I generally re-enter as often as I have re-entry opportunities (higher/lower) than my initial (i.e. the first) open position. I also do so based on my account size and available resources. One thing I do (and this can be viewed from most of the images I have attached, is I ONLY consider entering new levels after a visible DC (discount-Continuation) on m15/H1. What this does is help me avoid too many positions in one pair AND also offers the "best" possible discount...
Oh, one more thing:

I close ALL opposite trade positions ONCE I get a different H4 basket signal.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #523
  • Oct 8, 2019 10:10am Oct 8, 2019 10:10am
Quoting TyLamai
{quote} Oh, one more thing: I close ALL opposite trade positions ONCE I get a different H4 basket signal. Regards and Stay fluid, Ty
Thanks Ty...
  • #524
  • Oct 8, 2019 10:17am Oct 8, 2019 10:17am
Quoting TyLamai
Trading Nugget: By the way, this is just to help someone out there who was once like I was. I used to be REALLY confused about this Risk On/Risk Off thingy. It NEVER seemed to make any sense to me until I changed the meaning of the word "RISK" in my mind/head. So now when I see RISK I simply replace it with the word COURAGE or CONFIDENCE. If they say Risk On = It means COURAGE/CONFIDENCE On = Which means that traders are Optimistic and BUYing against the so-called "safe-haven" currencies (i.e. Buying the AUD or EUR or GBP or NZD, etc., against the...
Good One Ty...Simplifies the concept...
  • #525
  • Oct 8, 2019 10:25am Oct 8, 2019 10:25am
Quoting TyLamai
{quote} Just in case someone's wondering, here's a breakdown of my Selective basket: {image} As you can see the DD vacillates a great deal. It's down to -473 pips from -648 pips in just about half an hour. Regards and Stay fluid, Ty
Barely 1 hour 30 mins later: DD down to just -168 pips all the way from -648 pips. My lucky day today I guess - Thanks, I'll take it!
Attached Image


Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #526
  • Oct 8, 2019 4:49pm Oct 8, 2019 4:49pm
Quoting TyLamai
{quote} C12 H4 Sell basket is still valid...+1,882 pips banked so far with -648 pips floating. {image} Regards and Stay fluid, Ty
C12 H4 Sell basket is still valid...+2,044 pips banked so far with -442 pips floating.
Attached Image


Off to bed. Decided to reduce my risk by banking a few trades in profit in case of overnight drama.
Attached Image

*A few of these guys are Pending Orders in case I'm not here and it goes the way I desire.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #527
  • Oct 8, 2019 4:54pm Oct 8, 2019 4:54pm
Fundies: Truths and Rumours.


"Dollar Rallies but No One is Betting on a China Deal Just Yet

As China's delegation arrives in the US for trade talks, the greenback extended its gains against all of the major currencies. This is the largest and broadest team that China has sent in the 13 rounds of trade negotiations since 2018. Investors saw this as a strong commitment on behalf of the Chinese to secure a deal before they return to Beijing. But don't bet on a China deal just yet because on the very same day that Chinese officials land in the US, the Trump Administration blacklisted 28 Chinese firms for human rights violations and banned visas for Chinese officials linked to the mass detention of Muslims in the Xinjiang province. According to the US Director of Trade, Peter Navarro these are unrelated issues but the timing adds to the tensions between these two nations and complicates negotiations. Currency traders expect a trade break though this week but US actions suggest that the Trump Administration is playing hard-ball.

The sell-off in stocks and Treasury yields is a sign that equity and bond traders are not convinced that a deal (partial or whole) can be done. The size of China's delegation reflects their seriousness and commitment. While Trump previously said they are close to an agreement, the unpredictability of the US President leaves the dollar subjected to headline risk. Right now, we're waiting on Trump to confirm that a deal is very close which extend the dollar's gains but actions speak louder than words so the longer he waits, the greater the risk for the dollar.

The talk of purchasing Treasury bills is also negative for the US dollar. According to Federal Reserve Chairman Powell, the central bank is contemplating the possibility of taking these steps to grow the balance sheet for reserve management. While he said this is not QE, it is hard to interpret otherwise because the goal is to support the economy. His comments in general were more pessimistic than last week as he acknowledged that job growth is slowing and global developments pose a risk to the US' outlook. Tomorrow's FOMC minutes shouldn't hurt the dollar but stayed tuned for possible Chinese retaliation.

The Australian and New Zealand dollars remain under pressure as traders try to make sense of these conflicting headlines. Chinese data was better than expected with the Caixin manufacturing index rising. In Australia, business confidence fell but business conditions improved. USD/CAD held onto its gains despite stronger housing data.

Euro and sterling fell hard. German industrial production numbers were better than expected but with each passing day, the risk of a no deal Brexit increases. Apparently talks between UK PM Boris Johnson and German Chancellor Merkel hit a dead end. A deal based on the UK's latest proposals is highly unlikely and "nearly impossible" according to sources." Tensions are high with European Council President Donald Tusk accusing the UK of playing a blame game and putting the future of Europe and UK at stake on twitter. This public antagonism is a sign that negotiations are not going well. Unless Johnson proceeds with a request to delay Brexit, the next stop for GBP/USD could be 1.20." - Kathy Lien, BK Asset Management


Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #528
  • Oct 8, 2019 11:24pm Oct 8, 2019 11:24pm
Hello,

Here is my offline C5H4 chart. Please send me the link / invite to Skype channel. Thanks!

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 193 KB
  • #529
  • Oct 9, 2019 3:13am Oct 9, 2019 3:13am
Quoting forex4you27
Hello, Here is my offline C5H4 chart. Please send me the link / invite to Skype channel. Thanks! {image}
Hello forex4you27,

I tried to send you a PM but got this error message: "forex4you27's membership status restricts the use of Private Messages".

I suggest you give it some time.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #530
  • Oct 9, 2019 4:22am Oct 9, 2019 4:22am
Quoting TyLamai
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
Ty,

The concept of discount is intuitive, as in for a sell, it makes sense to re-enter at higher price and in cases where the signal flips- the loss would also be minimal.

When it comes to discount zone- How is it defined? Is it some criteria like a minimum percentage of price move{retrace} or Signal lines from higher time frame being used in lower time frame etc...

When you get time, could you please share some insights...

Thanks
  • #531
  • Oct 9, 2019 4:52am Oct 9, 2019 4:52am
Quoting aaven
{quote}When it comes to discount zone- How is it defined? Is it some criteria like a minimum percentage of price move{retrace} or Signal lines from higher time frame being used in lower time frame etc...
Hi aaven,

My DCs are not defined based on retracement percentages. I simply wait until I see a CONTRARY Tidane Trend signal on a lower timeframe.

Example: A Sell basket on the H4.
A valid DC for me would be a Buy signal on the m15/H1 depending on what I perceive is ongoing in the market. Once I get a Buy signal, I BEGIN to look for reasons (on the m15/H1) to re-enter a Sell trade in the direction of the prevailing Sell basket (on the H4). I hope this is not confusing.

What informs my entering a Sell position?

1. Fundamentals: Like today - we are currently having a DC on both the m15 and H1. I ask myself: "Is there a REASON why I should anticipate a BUY basket? What is ongoing in the market at the moment to SUPPORT the FLIPPING of current H4 Sell basket and turn it into a Buy basket?". If I find no obvious reasons then I ASSUME that this is simply a DISCOUNTING of Price in support of the current Sell basket (think Stop hunts, bait and switches, etc.). I also look ahead for any MAIN high impact news (I call them "Reds"). Today we have the Powell speaking and FOMC upfront...I ask myself: "How would this change the dynamics in the market for good (Sell basket continues) or bad (Buy basket triggered)?"
Attached Image (click to enlarge)
Click to Enlarge Name: 00w8c2a_USDreds.png Size: 18 KB

2. Candlestick patterns: I like them to be present as much as possible when I re-enter positions in the direction of the H4 basket after DCs.

3. Other systems/methods depending on my current mood/risk appetite: Pivots, Harmonics, TMAs, (add your own favourite method here), etc., etc.

I hope this helped.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #532
  • Oct 9, 2019 5:33am Oct 9, 2019 5:33am
Quoting TyLamai
{quote} Hi aaven, My DCs are not defined based on retracement percentages. I simply wait until I see a CONTRARY Tidane Trend signal on a lower timeframe. Example: A Sell basket on the H4. A valid DC for me would be a Buy signal on the m15/H1 depending on what I perceive is ongoing in the market. Once I get a Buy signal, I BEGIN to look for reasons (on the m15/H1) to re-enter a Sell trade in the direction of the prevailing Sell basket (on the H4). I hope this is not confusing. What informs my entering a Sell position? 1. Fundamentals: Like today...
Thanks Ty-It makes sense- with practice from my end it should more clearer...

One question- You marked "Yet Aud is rising"- Do you mean to look at AUDJPY that is part of the basket{C5 for example} or AUD currency in general?
  • #533
  • Oct 9, 2019 5:51am Oct 9, 2019 5:51am
Quoting aaven
{quote} Thanks Ty-It makes sense- with practice from my end it should more clearer... One question- You marked "Yet Aud is rising"- Do you mean to look at AUDJPY that is part of the basket{C5 for example} or AUD currency in general?
Only as a part of the C5/C14 basket (AUDJPY and AUDUSD).

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #534
  • Oct 9, 2019 8:37am Oct 9, 2019 8:37am
Quoting TyLamai
{quote} Only as a part of the C5/C14 basket (AUDJPY and AUDUSD). Regards and Stay fluid, Ty
Thanks Ty...
  • #535
  • Oct 9, 2019 9:02am Oct 9, 2019 9:02am
Quoting aaven
{quote} Thanks Ty...
Bù yòng xiè aaven (No need for thanks aaven).

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #536
  • Oct 9, 2019 11:30am Oct 9, 2019 11:30am
Fundies: Truths and Rumours.

"Risk Rebounds on Limited Trade Deal News- But Will the Rally Last?
Its been a seesaw night of trade in the currency market with contradictory geopolitical headlines driving price action back and forth as markets tried to asses the state of play amidst confusion and lack of any meaningful data on the eco calendar.

USDJPY and yen crosses saw a rally as risk recovered on headlines that China was still committed to a limited trade deal focusing primarily on agriculture. Although the move appears to be a concession on the part of China it is actually full of self-interest. Swine flu has wiped out more than 50% of the Chinese pig population and the country is facing much higher prices as a result wreaking havoc amongst the common population where pork is major staple food.

Therefore, China is more than willing to engage in argi-trade while still maintaining a barrier to technology and intellectual property issues.

The latest furor over the China-NBA relationship should keep investors clearly cognizant that the country respects contract law only when it suits its purposes. So despite the near term uptick in risk flows, it remains to be seen whether the US and China could come to terms that both sides would accept and USDJPY remains capped below the 107.50 for now as markets try to ascertain the true state of negotiations.

In the UK meanwhile, another jolt in the Brexit drama as pound first shot up on news that the EU would be willing to make a major concession on NI border only to tumble just as quickly when those rumors were denied. The DUP meanwhile chimed in that even in case of a compromise they would vote down the deal, therefore, dampening sentiment regarding any last-minute solution.

It appears that the EU at this point may be steeling itself for a no-deal outcome - hoping that the Benn act would force PM Johnson to ask for an extension and thus avoid an instant crash out of the customs union. Cable continues to hold the 1.2200 figure on prospects of a deal or delay but the asymmetric risk is skewed to the downside now as both sides remain entrenched in their positions." - Boris Schlossberg, BK Asset Management


Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #537
  • Oct 9, 2019 11:47am Oct 9, 2019 11:47am
Hi TyLamai,

Great to see you have started a Basket trading thread again. I was around back during Kos and Seller9's time but stopped awhile after that. Very interested to start basket trading again. Would be great to see what's going on around the Skype group.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 95 KB
  • #538
  • Oct 9, 2019 1:15pm Oct 9, 2019 1:15pm
Quoting TyLamai
{quote} Hello forex4you27, I tried to send you a PM but got this error message: "forex4you27's membership status restricts the use of Private Messages". I suggest you give it some time. Regards and Stay fluid, Ty
Thanks - guess I'm too new to the forum to send/receive PMs. That is a first for me... but maybe its good to prevent people from getting spammed? Sounds good. Anyway looks like the C5 basket is still in sell. Will you usually post here when it flips?
  • #539
  • Oct 9, 2019 2:37pm Oct 9, 2019 2:37pm
Quoting forex4you27
{quote} Thanks - guess I'm too new to the forum to send/receive PMs. That is a first for me... but maybe its good to prevent people from getting spammed? Sounds good. Anyway looks like the C5 basket is still in sell. Will you usually post here when it flips?
Either I or others do.

By the way, the current Sell basket isn't our first in this thread. Why not read the thread to see what happened during the other basket flips?

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #540
  • Oct 9, 2019 4:16pm Oct 9, 2019 4:16pm
Quoting ckyon1
Hi TyLamai, Great to see you have started a Basket trading thread again. I was around back during Kos and Seller9's time but stopped awhile after that. Very interested to start basket trading again. Would be great to see what's going on around the Skype group. {image}
Hi ckyon1,

Welcome to the Basket Knights' thread.

PM sent.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
0 traders viewing now