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Basket Knights - A Basket Trading Round Table

  • #721
  • Nov 2, 2019 3:02am Nov 2, 2019 3:02am
Quoting Simontw
@R4m Many thanks for that addition. Another good guide. {image}
I can see that your desire/quest for world domination is slowly coming to fruition! Lol...

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #722
  • Nov 2, 2019 3:18am Nov 2, 2019 3:18am
Amazing how we start to play with new ideas. I've been fiddling with this setup for a few days based off an indi from the great SwingMan
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  • #723
  • Nov 2, 2019 3:31am Nov 2, 2019 3:31am
Quoting Telac
Amazing how we start to play with new ideas. I've been fiddling with this setup for a few days based off an indi from the great SwingMan {image}
Good Telac, but you might need to explain what we're looking at?

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #724
  • Nov 2, 2019 4:05am Nov 2, 2019 4:05am
Quoting TyLamai
{quote} Good Telac, but you might need to explain what we're looking at? Regards and Stay fluid, Ty
I'm just using SwingMans LazyTMASignals Indi, a daily open indi and an SR indi on a C5 H4 chart build with your tools. Below are the indis and template. Always like to see the daily open lines - gives a better sense of where price is going in the bigger picture and is often a point of support or resistance once crossed. Also like to see support and resistance areas - not so much when you've caught the wave but as a guide for entry, exit and add points; SwingMans indi also gives other possible entry points. For more info on SwingMans indi you can have a look here: https://www.forexfactory.com/showthread.php?t=922947
Attached File(s)
File Type: ex4 daily_open_line.ex4   10 KB | 503 downloads
File Type: ex4 fxr_sr_zones_3.25.ex4   80 KB | 500 downloads
File Type: ex4 smLazyTMA Signals_v2.1.ex4   28 KB | 480 downloads
File Type: tpl SM_C5.tpl   6 KB | 491 downloads
  • #725
  • Nov 2, 2019 4:14am Nov 2, 2019 4:14am
Quoting Telac
{quote} I'm just using SwingMans LazyTMASignals Indi, a daily open indi and an SR indi on a C5 H4 chart build with your tools. Below are the indis and template. Always like to see the daily open lines - gives a better sense of where price is going in the bigger picture and is often a point of support or resistance once crossed. Also like to see support and resistance areas - not so much when you've caught the wave but as a guide for entry, exit and add points; SwingMans indi also gives other possible entry points. For more info on SwingMans indi...
Thanks for sharing Telac.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #726
  • Nov 2, 2019 5:08am Nov 2, 2019 5:08am
Quoting thisara1
{quote} hellow robots4me can you update this indicator hidden text information and middle band... {image}
Quote
can you update this indicator hidden text information and middle band
@thisara1 -- that's not the indicator I just uploaded.
  • #727
  • Nov 2, 2019 6:06am Nov 2, 2019 6:06am
Quoting robots4me
{quote} {quote} @thisara1 -- that's not the indicator I just uploaded.
who is owner that indicator?
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  • #728
  • Nov 2, 2019 8:01am Nov 2, 2019 8:01am
Quoting thisara1
{quote} who is owner that indicator? {image}
Thisara1,

Steve/Robots4me created that indicator. Also note, he created many versions of it-adding/removing features-eliminating bugs.

Here you will find many of its previous versions as well as the latest stable release:

https://www.forexfactory.com/showthread.php?t=920925

Thanks
  • #729
  • Nov 2, 2019 8:15am Nov 2, 2019 8:15am
Fundies: Truths and Rumours.


"Dollar - No Relief Rally as ISM not NFPs tells Real Story

October was a challenging month for the US dollar. The vulnerabilities of the US economy became more apparent, forcing the Federal Reserve to take further action to insure against a deeper slide in growth. The greenback lost value against all of the major currencies and started the month of November under pressure. Today's ISM manufacturing report tells the real story of the US economy. Even though non-farm payrolls beat expectations, triggering a relief rally for the dollar, the move was short lived after investors saw manufacturing activity contract for the third month in a row. While ISM ticked up from the previous month, it missed expectations and remains near a decade low. More importantly, production fell to its lowest level since April 2009 while imports dropped to its weakest level since May 2009. Not only do these numbers validate the central bank's decision to ease earlier this week, but they also confirm that no rates hikes are in sight.

The US non-farm payrolls report was suppose to be the more market moving release but it didn't reveal anything new. Job growth slowed but not as much as economists anticipated (128K vs. 85K), the unemployment rate ticked up to 3.6% from 3.5% while average hourly earnings growth accelerated to 0.2% instead of the 0.3% forecast. These numbers confirm that the economy is slowing but also indicates that the labor market is not the greatest concern. Looking ahead, we expect the dollar to consolidate its losses. There are no major US economic reports next week and with the Fed not expected to ease again this year, big moves are limited. USD/JPY should extend its slide and will most likely break through 107.50.

EUR/USD should also make a run to 1.12 but the rally should be slow. Like the US, market moving reports are limited but the German data that is on the calendar including factory orders, industrial production and trade will most likely reinforce the central bank's concerns about the region's largest economy.

Instead, the commodity currencies and sterling will be the main focus. The Bank of England and the Reserve Bank of Australia have monetary policy announcements. No changes are expected from either central bank but the BoE could be encouraged that a no deal Brexit is no longer a serious risk. The RBA will remain dovish but like the Fed the likelihood of another cut this year is slim. As such, Australia's retail sales, PSI and trade balance reports could be more market moving than RBA. AUD ends the week strong and is one of our favorite currencies going into the new trading week.

Canadian dollar traders on the other hand will be watching incoming reports to validate the Bank of Canada's more cautious outlook. Fundamentally the Canadian dollar should be trading lower but USD/CAD's rally has been constrained by US dollar weakness. Canada's trade, IVEY PMI and employment reports are scheduled for the release and the majority of these reports are expected to be softer. Labor market numbers are also due from New Zealand and given the rarity of this report, its impact on NZD could be significant. In addition to data, US-China trade headlines could also have a major impact on currency trade next week." - Kathy Lien, BK Asset Management


Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #730
  • Nov 2, 2019 7:41pm Nov 2, 2019 7:41pm
Quoting aaven
{quote} Thisara1, Steve/Robots4me created that indicator. Also note, he created many versions of it-adding/removing features-eliminating bugs. Here you will find many of its previous versions as well as the latest stable release: https://www.forexfactory.com/showthread.php?t=920925 Thanks
thank you aaven here my view 5M trading https://www.forexfactory.com/showthr...3#post12596263
  • #731
  • Nov 3, 2019 2:44am Nov 3, 2019 2:44am
Quoting thisara1
{quote} thank you aaven here my view 5M trading https://www.forexfactory.com/showthr...3#post12596263
Thank you Thisara1...

One thing though: Steve did his best to minimize the recalculating, but the BDX does recalculate- So what you see in the past may not have occurred as the bands adpat to fit the boundaries. The best way would be watch it real time...

If you get a chance, do include the volume profile indicator and perhaps let us know how to define just the extremities. One can map BDX with the extremities and look to enter individual pairs for re-entries...

Example: Sell on C5-Basket

AUDJPY- Both on upper boundary of BDX and Extremity on Volume Profile
  • #732
  • Nov 3, 2019 3:08am Nov 3, 2019 3:08am
Quoting aaven
{quote} Thank you Thisara1... One thing though: Steve did his best to minimize the recalculating, but the BDX does recalculate- So what you see in the past may not have occurred as the bands adpat to fit the boundaries. The best way would be watch it real time... If you get a chance, do include the volume profile indicator and perhaps let us know how to define just the extremities. One can map BDX with the extremities and look to enter individual pairs for re-entries... Example: Sell on C5-Basket AUDJPY- Both on upper boundary of BDX and Extremity...
audjpy 4h demand zone reversal start inside bar and bullish engulfing demand zone print before
audjpy shorting very risk on friday my view trade h4 PA D1 PA direction
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  • #733
  • Nov 3, 2019 3:10am Nov 3, 2019 3:10am
look at this period that is marked.
gbpusd should have risen would be.
so that's the problem with this metric.
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  • #734
  • Edited 6:20pm Nov 3, 2019 4:31pm | Edited 6:20pm
Hey guys, hope y'all had a great weekend.

As a refresher...The C5 H4 Buy basket is still valid...
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*with Tidane 20,3 and Tidane 12,3.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #735
  • Edited 6:36pm Nov 3, 2019 6:13pm | Edited 6:36pm
I'm new to basket trading, but I've spent a fair amount of time experimenting, testing, coding the past few weeks and this afternoon I came to a conclusion -- the strategy presented here by @TyLamai using the Tidane indicator works perfectly fine -- as is. Regardless of the setting you use for Length (28, 20, 12, ...), on a H4 chart when you trade from signal-to-signal then you will profit.

I'll admit I have coded an EA plus additional indicators. And I have done backtesting using Strategy Tester. But in the end everything still points in the same direction -- trading Tidane from signal-to-signal on H4 works!! Plus, it is simple.

Another thing I realized is that since this is a "super" (i.e. long-term) trend-following strategy where transitions occur days apart, then it doesn't really need an EA. In contrast, reversal trading does require automation unless you are content staring at a monitor for hours on end. But with Ty's basket trading system you so rarely open / close baskets or need to take action that an EA doesn't really gain you much compared to manually trading.

When I think about a strategy or trading system I can't help but ponder "what's the magic sauce?". And here it is clear to me. The magic sauce is the index (i.e. chart data) and the basket (traded pairs). I don't need to spend any more time experimenting with different indicators or rules -- they will have minimal impact and only introduce unnecessary complexity. Basket trading with Tidane-H4 (trading from signal-to-signal) is my new favorite.

Thank you @TyLamai!!
  • #736
  • Nov 3, 2019 6:37pm Nov 3, 2019 6:37pm
Quoting robots4me
I'm new to basket trading, but I've spent a fair amount of time experimenting, testing, coding the past few weeks and this afternoon I came to a conclusion -- the strategy presented here by @TyLamai using the Tidane indicator works perfectly fine -- as is. Regardless of the setting you use for Length (28, 20, 12, ...), on a H4 chart when you trade from signal-to-signal then you will profit. I'll admit I have coded an EA plus additional indicators. And I have done backtesting using Strategy Tester. But in the end everything still points in the same...
Awwwww R4M now look what you've gone and done...
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*Image source: Google

I'm happy to have been of some measure of service.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #737
  • Nov 4, 2019 4:00am Nov 4, 2019 4:00am
Quoting robots4me
I'm new to basket trading, but I've spent a fair amount of time experimenting, testing, coding the past few weeks and this afternoon I came to a conclusion -- the strategy presented here by @TyLamai using the Tidane indicator works perfectly fine -- as is. Regardless of the setting you use for Length (28, 20, 12, ...), on a H4 chart when you trade from signal-to-signal then you will profit. I'll admit I have coded an EA plus additional indicators. And I have done backtesting using Strategy Tester. But in the end everything still points in the same...
Steve,

I have to disagree with you on this one. First of it's kind...

I have attached two charts: They are nearly indistinguishable-

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Attached Image (click to enlarge)
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The above are C5-4 HR and GBPJPY-4HR... C5 is equating to GBPJPY

While indexing/creation of synthetic price chart might contribute to profitability, in my opinion the true magic sauce is "Discount-Continuation/Re-Entries".

The below are attached charts using Bishops Settings:

C5-4HR

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Tidane changed to Green on 2019.10.10[16:00] indicated by Green Line

C5-15 Min

The same green Line-

Attached Image (click to enlarge)
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The Yellow Arrows are points where price touched the Green Tirane-Potential Areas for add-on/re-entries


To put it bluntly, Ty/Bishop seem to be milking the price movement left and right via profit taking at regular intervals and re-entries and add-ons. This process is being continuously repeated from one Trend Signal Chang/Tidane Trend Color to other.

Riding the price from tidane change could be profitable, but it will never be in vicinity of the profitability followed by above process.

Add-ons and partial profit taking-re-entries are in fact lend themselves to automation and will make a difference between just being profitable vs insanely profitable...

Thanks
  • #738
  • Nov 4, 2019 4:03am Nov 4, 2019 4:03am
Quoting robots4me
I'm new to basket trading, but I've spent a fair amount of time experimenting, testing, coding the past few weeks and this afternoon I came to a conclusion -- the strategy presented here by @TyLamai using the Tidane indicator works perfectly fine -- as is. Regardless of the setting you use for Length (28, 20, 12, ...), on a H4 chart when you trade from signal-to-signal then you will profit. I'll admit I have coded an EA plus additional indicators. And I have done backtesting using Strategy Tester. But in the end everything still points in the same...
Steve,

Please don't misconstrue as my post as to pushing you to create an EA. Knowing you- if you choose to be generous, it pours and also i doubt there is anyone that can force your hand...

Just wanted to share my thoughts...

Thanks
  • #739
  • Edited 5:55am Nov 4, 2019 5:39am | Edited 5:55am
Quoting aaven
{quote} Steve, I have to disagree with you on this one. First of it's kind... I have attached two charts: They are nearly indistinguishable- {image} {image} The above are C5-4 HR and GBPJPY-4HR... C5 is equating to GBPJPY While indexing/creation of synthetic price chart might contribute to profitability, in my opinion the true magic sauce is "Discount-Continuation/Re-Entries". The below are attached charts using Bishops Settings: C5-4HR {image} Tidane changed to Green on 2019.10.10[16:00] indicated by Green Line C5-15 Min The same green...
Hello @aaven!! You should have warned me to sit down before reading your post that disagrees with mine...

@aaven -- your comments are great. I had noticed that @TyLamai and @bishopdotun use retracements to add to their positions. I guess I wasn't taking those into account when commenting about the "magic sauce". Since this is a "super" (i.e. long-term) trading strategy then one could close one's eyes and randomly add to one's position along the way and it probably wouldn't be much different than Ty's DC points or @bishipdotun's retracements. So -- though adding to one's position will increase profit, I wasn't thinking of it as one of the rules. It's just pushing the BUY or SELL button a few more times along the way.

If one trades from signal-to-signal on H4 there will be a nice haul of pips regardless whether one adds more along the way. And since there are many indicators you could choose from to mark DC points (or maybe you just eye-ball it) then I don't see much "magic" there. What's really clever about this strategy is creating an offline index and treating it as if it were a virtual currency. And then when a transition signal occurs you open a basket on a bunch of pairs -- some in the direction of the trend and some in the opposite direction. And then you're done -- that is, you can ride it out for days or weeks and not have to worry about baby-sitting it or staring at a screen for 20,000 hours. And if you want to add to your positions -- sure, go ahead, as long as you have the available margin.

And I accept your disagreement in the spirit it was offered -- good points. I'm still formulating my thoughts and impressions about basket trading and nothing I post or comment on is carved in stone. You know me -- I like to throw things out there to generate some controversy and more discussion...

EDIT: Another point... Though I've traded trends before, the uncomfortable part was always being on alert for extreme price spikes. But with this basket trading strategy I no longer worry about spikes. The combination of offline index chart plus trading a basket of pairs goes a long way toward mitigating those spikes. Applying the same strategy on single pairs (even with additional re-entries) wouldn't work for me -- I mean, wouldn't suit my style. But the combination of index and basket trades is something special.
  • #740
  • Nov 4, 2019 6:58am Nov 4, 2019 6:58am
Quoting robots4me
I'm new to basket trading, but I've spent a fair amount of time experimenting, testing, coding the past few weeks and this afternoon I came to a conclusion -- the strategy presented here by @TyLamai using the Tidane indicator works perfectly fine -- as is. Regardless of the setting you use for Length (28, 20, 12, ...), on a H4 chart when you trade from signal-to-signal then you will profit. I'll admit I have coded an EA plus additional indicators. And I have done backtesting using Strategy Tester. But in the end everything still points in the same...
Excellent post Steve! Couldn't have said it any better.

Dave
K.I.S.S.
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