I sell 14 pair from 12 hours ago. and this is the result. But i make decision from your indi and from Manual Demo Indicator
Attached Image (click to enlarge)
Basket Knights - A Basket Trading Round Table
Hi Ty and Basket Knights,
Like Husky77 I'm also sticking my head out.
I've been following the thread closely and with you guys doing such a great job, I really didn’t have much to add, until Husky77 posted. Like Husky, I’m also a basket trader using EAX to manage my basket (GVC’s C8 Risk-On/Risk-Off basket).
Since I started trading baskets, I’ve been trying to marry the idea of Offline charts (or something similar) with EAX, and I have a simple idea that might just work (in reply to Husky77’s post), which I will share in the EAX thread not to clog Ty’s thread here.
I do however believe to always share something when I lurk around. I searched for a long time for an indicator that would give me Fib Pivots on my Offline basket charts. If someone here has such an indi, please share with all, but until then, I have experimented with one of Davit’s old Pivot indi’s and found a way to make it work on my Offline charts.
The trick is to adjust the settings to not use AutoTimeAdjustment or Broker’s Candle (both must be false), and to be very accurate with the inputs of when EXACTLY the weekly period starts and when it finishes. Since the offline charts only hold a limited amount of historical data, you have to adjust the start and finish candle times at the beginning of every week. This is a small inconvenience for having Fib Pivots available on offline charts.
Another important thing is that your offline chart must contain all the candles of the previous week from start to finish. This is not a problem for H1 and H4 charts, but, for example, when dropping down to M15 time frame, you will need at least 500 candles in your offline chart for the Pivots to display correctly. I also noted in the code that the indi is looking for the H1 candles, so whatever timeframe you use, just make sure you also have the H1 offline chart of the basket open.
Attached is the indi. I’m no coder, but I made the necessary adjustments to the indicator to include last week’s data with my broker’s time zone (GMT+1). My broker uses a Sunday candle as well which is why the start candle is last Sunday evening at 22h00. Make sure you adjust the start and finish candle for your specific broker.
Here are some screenshot of the results in various timeframes at approximately 09h10 (GMT) this morning. (I see that the price shot through the Pivot Point line since I took the screenshot, but it was good to see how it hesitated once again around the Pivot and ADR just like single pairs would do.)
Having these Fib Pivots on the offline chart, it was no surprise how the price danced between R38 and S38 the whole week and how volatile the price movement was around the Weekly Pivot Point.
(PS: ADR_Marker is set for 10 days only. It can be downloaded from Davit’s Pivot Trading thread, or with permission of Ty I can post it here if you are interested.
Cheers and green basket pips to all.
Lee
Like Husky77 I'm also sticking my head out.
I've been following the thread closely and with you guys doing such a great job, I really didn’t have much to add, until Husky77 posted. Like Husky, I’m also a basket trader using EAX to manage my basket (GVC’s C8 Risk-On/Risk-Off basket).Since I started trading baskets, I’ve been trying to marry the idea of Offline charts (or something similar) with EAX, and I have a simple idea that might just work (in reply to Husky77’s post), which I will share in the EAX thread not to clog Ty’s thread here.
I do however believe to always share something when I lurk around. I searched for a long time for an indicator that would give me Fib Pivots on my Offline basket charts. If someone here has such an indi, please share with all, but until then, I have experimented with one of Davit’s old Pivot indi’s and found a way to make it work on my Offline charts.
The trick is to adjust the settings to not use AutoTimeAdjustment or Broker’s Candle (both must be false), and to be very accurate with the inputs of when EXACTLY the weekly period starts and when it finishes. Since the offline charts only hold a limited amount of historical data, you have to adjust the start and finish candle times at the beginning of every week. This is a small inconvenience for having Fib Pivots available on offline charts.
Another important thing is that your offline chart must contain all the candles of the previous week from start to finish. This is not a problem for H1 and H4 charts, but, for example, when dropping down to M15 time frame, you will need at least 500 candles in your offline chart for the Pivots to display correctly. I also noted in the code that the indi is looking for the H1 candles, so whatever timeframe you use, just make sure you also have the H1 offline chart of the basket open.
Attached is the indi. I’m no coder, but I made the necessary adjustments to the indicator to include last week’s data with my broker’s time zone (GMT+1). My broker uses a Sunday candle as well which is why the start candle is last Sunday evening at 22h00. Make sure you adjust the start and finish candle for your specific broker.
Here are some screenshot of the results in various timeframes at approximately 09h10 (GMT) this morning. (I see that the price shot through the Pivot Point line since I took the screenshot, but it was good to see how it hesitated once again around the Pivot and ADR just like single pairs would do.)
Having these Fib Pivots on the offline chart, it was no surprise how the price danced between R38 and S38 the whole week and how volatile the price movement was around the Weekly Pivot Point.
(PS: ADR_Marker is set for 10 days only. It can be downloaded from Davit’s Pivot Trading thread, or with permission of Ty I can post it here if you are interested.
Cheers and green basket pips to all.
Lee
Fix your thoughts on what is true, and honorable, and right, and pure...
- #765
- Nov 7, 2019 6:07am Nov 7, 2019 6:07am
- Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts
My job: I speculate and manage risk.
- #766
- Nov 7, 2019 6:15am Nov 7, 2019 6:15am
- Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts
My job: I speculate and manage risk.
- #767
- Nov 7, 2019 6:18am Nov 7, 2019 6:18am
- Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts
Hi Ty and Basket Knights, Like Husky77 I'm also sticking my head out.
Hi LifeHunt3r - PLEASE try to stick out your head more often!
What an explosive post - I will certainly study this post more closely. Thank you for contributing to the discussion.
Regards and Stay fluid,
Ty
My job: I speculate and manage risk.
- #769
- Nov 7, 2019 6:25am Nov 7, 2019 6:25am
- Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts
My job: I speculate and manage risk.
- #770
- Nov 7, 2019 9:06pm Nov 7, 2019 9:06pm
- Joined Dec 2017 | Status: Trader | 4,378 Posts
{quote} Exactly BD. This is what I mean by "ranging". Imaging getting into and out of baskets willy-nilly. Regards and Stay fluid, Ty
One of my favorite features of your basket trading strategy is that it is a "super" trend-follower -- and by "super" I mean long-term. I like that you rarely need to trade -- e.g. the current bullish trend has been progressing for nearly a month. If someone is really bored they could take profits along the way and / or add to their position via re-entries (or DCs).
An important "feature" of true basket trading is its inherent "imprecision". It sounds odd to say that but I think it's really true. Basket trading -- as practiced here -- is imprecise. The offline index is composed of pairs that may be only remotely correlated -- that is, some times they trade in the same direction and sometimes not. Basket trading does not require that pairs be highly correlated -- yet it works. I think this is because currency prices do not exist in a vacuum. There is some complex inter-dependency that affects the exchange pricing. Maybe there's some manipulation -- I don't know and I don't care. What I like about your basket trading strategy is that I do not need to drill-down to analyze individual pairs or study individual setups. The index serves as a virtual currency and that's what we trade. And if we trade signal-to-signal we have a very high probability of coming out ahead.
Let me give a bad analogy -- suppose you flip a coin 10 times. What is the probability you'll get 5 heads and 5 tails? The answer -- which may surprise you -- is less than 50%. However, suppose you flip a coin one million times -- what is the probability 50% will be heads? The answer is very, very high. Flipping a coin is imprecise -- if you focus on individual flips you'll miss the bigger picture. Basket trading is like trading from 30000 feet. It works because you don't need to deal with the low-level, complex interdependencies that we don't understand. We don't need to worry about precision. But when you trade at ground-level and focus on individual pairs and time frames then you've really got your work cut out for you and you do need to worry about precision.
So -- the point of all us? I would tend to avoid trading "willy-nilly". Also, I don't consider dashboard trading truly basket trading -- just because you have a bunch of orders open doesn't mean you are trading a basket. To my mind, trading a basket means you trade an abstraction -- i.e. a virtual currency. If you break the basket down to its individual pairs and trade them separately or at different times or time frames, then this isn't much different than manual trading. I think the magic sauce here is the offline chart index and the basket of pairs that are traded as one virtual currency.
- #771
- Nov 7, 2019 11:01pm Nov 7, 2019 11:01pm
{quote} @TyLamai -- it's been awhile since I've heard the term "willy-nilly"...
- #773
- Nov 8, 2019 6:40am Nov 8, 2019 6:40am
- Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts
{quote} @TyLamai -- it's been awhile since I've heard the term "willy-nilly"...
Regards and Stay fluid,
Ty
My job: I speculate and manage risk.
- #774
- Nov 8, 2019 6:42am Nov 8, 2019 6:42am
- Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts
My job: I speculate and manage risk.
- #775
- Nov 8, 2019 6:53am Nov 8, 2019 6:53am
- Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts
My job: I speculate and manage risk.
- #776
- Nov 8, 2019 6:57am Nov 8, 2019 6:57am
- Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts
My job: I speculate and manage risk.
- #777
- Nov 8, 2019 7:04am Nov 8, 2019 7:04am
- Joined Jul 2015 | Status: Trader | 2,299 Posts
{quote} Hey aaven, Just thought I'd drop a line (or two) to let you know that your contributions to this thread haven't gone unnoticed and are really appreciated by me. (Line#3.) Thank you! (Line #4.) Regards and Stay fluid, (Line #5.) Ty
- #778
- Nov 8, 2019 7:12am Nov 8, 2019 7:12am
- Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts
C5 H4 Sell basket is still valid...
Regards and Stay fluid,
Ty
Regards and Stay fluid,
Ty
My job: I speculate and manage risk.
{quote} Thanks Telac, Curious, what made you shift away from basket trading at that time?