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Basket Knights - A Basket Trading Round Table

  • #801
  • Nov 14, 2019 3:54am Nov 14, 2019 3:54am
Quoting TyLamai
{quote} {image} So far, so good. The Red news releases so far today support the Sell basket: A "weak" AUD, GBP, and NZD works well for me. Regards and Stay fluid, Ty
Remember though...the fact that all the Red news goes the way of your basket does not mean that Price will move in that direction or that it will move in that direction immediately. We trade a HIGHLY manipulated market therefore your money management is KEY!

What it means when fundamentals/red news events goes your way is that it gives you more "assurances" (i.e. lends credence) that your trade bias might remain intact/in place for the moment. This allows you hold, fold, split/add-on, etc.

Trade safe.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #802
  • Nov 14, 2019 5:52am Nov 14, 2019 5:52am
First Post..

Thanks for all the tools and tips!






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  • #803
  • Nov 14, 2019 6:00am Nov 14, 2019 6:00am
Quoting Blaiserboy
First Post.. Thanks for all the tools and tips! {image}
You are welcome Blaiserboy.

Great to have you here!

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #804
  • Nov 14, 2019 6:05am Nov 14, 2019 6:05am
I think I saw that you purge some pairs and add others as time passes.

Did I get that right?

Thanks
  • #805
  • Nov 14, 2019 6:30am Nov 14, 2019 6:30am
Quoting Blaiserboy
I think I saw that you purge some pairs and add others as time passes. Did I get that right? Thanks
Yes, I've been known to tinker with the basket a lot. I've described various instances when that occurs in the course of this thread.

For example, I am EURGBP BUY heavy at the moment (EURGBP being a "flip pair" within my C12 basket). Although I'm currently trading the C5 Sell basket, I saw Discounts on EG which I felt were too good to pass up so I added those to my C5 basket. Added to this, the recent news releases supports an EG buy (IMHO).

So yes, I've been known to "Stagger/Select-Basket" as the occasion warrants - I just ensure that the pairs in question as basket pairs (C5,C10,C12,C14)...I try to avoid USDJPY as much as possible though...I can never seem to determine when USD is stronger than JPY or vice versa...PLUS: the commissions are atrocious!

I hope I've not made it all worse.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #806
  • Nov 14, 2019 6:35am Nov 14, 2019 6:35am
Although I did trade baskets a few years ago, I did not think to weed out the bad guys and add some good guys....

And as I read through the thread I saw that you made adjustments.

I will attempt to devise a method that I can follow for that purpose

Thanks for reply
  • #807
  • Nov 14, 2019 6:40am Nov 14, 2019 6:40am
Quoting Blaiserboy
Although I did trade baskets a few years ago, I did not think to weed out the bad guys and add some good guys.... And as I read through the thread I saw that you made adjustments. I will attempt to devise a method that I can follow for that purpose Thanks for reply
You are welcome.

The idea to interfere with the basket came to me after many years of leaving too much money on the table (i.e. giving back a lot of my winnings). It works for some and not for others. I believe there is no right or wrong way.

Please remember this is a Round Table; we would appreciate it if you would share your findings.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #808
  • Nov 14, 2019 6:44am Nov 14, 2019 6:44am
Fundies: Truths and Rumours.


"Aussie Drops - Is Risk About to be Clobbered?

The Australian dollar was the biggest mover in FX market overnight after labor data from Down Under missed badly suggesting that RBA will have to cut rates further in order to stabilize the economy.

Australian jobs contracted by -19K versus a forecast if 16K gain for the first time in more than a year as the global slowdown and continuing tensions between US and China are finally taking their toll on demand.

Boosted by services and tourism the Australian economy has been able to remain relatively robust up to now despite the fall-off in industrial demand from China, but today data clearly shows that the weakness is finally permeating the system suggesting that RBA will need to resume monetary stimulus to keep the economy stable.

Aussie tumbled below the .6800 figure in overnight trade and remains heavy as North American session is about to start and could see even further weakness if US equities turn south.

In North American today the data calendar is light with only US PPI on the docket and the second-day testimony of Chairman Powell and direction in FX will likely be driven by equity flows which remain near record highs but are starting to show signs of exhaustion. If the profit-taking in stocks begins in earnest, risk FX is sure to follow." - Boris Schlossberg, BK Asset Management


Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #809
  • Nov 14, 2019 6:53am Nov 14, 2019 6:53am
My first idea is to plot RSI 4 for each of the pairs (I am using 14 at the moment)

I have to make 2 charts of that or I will be unable to read the names of the pairs

I can see that several of them are about to go up so I will see what positions I have and make adjustments.

There may be other oscillators that do a better job, I will have to experiment


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  • #810
  • Nov 14, 2019 7:13am Nov 14, 2019 7:13am
I should have mentioned, the two charts in my last post are 4 hour charts, perhaps the chart should be daily.........?

This chart is ADX10 on a daily chart, I made the post larger so people can see the names as some of them are messed up in the chart

From the chart we can see that USDCAD is trending well, as is EURUSD, I would probably try to get rid of the bottom two or three

If this is worthwhile to people, I can do a little better job and post them daily, it is easy enough to do.

How does that approach sound to people, does it seem to be workable?

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  • #811
  • Nov 14, 2019 7:45am Nov 14, 2019 7:45am
Quoting TyLamai
{quote} {image} So far, so good. The Red news releases so far today support the Sell basket: A "weak" AUD, GBP, and NZD works well for me. Regards and Stay fluid, Ty
And the great numbers continue...
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Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #812
  • Edited 8:06am Nov 14, 2019 7:52am | Edited 8:06am
Quoting Blaiserboy
I should have mentioned, the two charts in my last post are 4 hour charts, perhaps the chart should be daily.........? This chart is ADX10 on a daily chart, I made the post larger so people can see the names as some of them are messed up in the chart From the chart we can see that USDCAD is trending well, as is EURUSD, I would probably try to get rid of the bottom two or three If this is worthwhile to people, I can do a little better job and post them daily, it is easy enough to do. How does that approach sound to people, does it seem to be workable?...
Do you trade USDCAD as part of your C14 basket?

I ask because I don't have CAD as a pair in any of mine.

ALSO: I would suggest you keep posting and tying your ADX+RSI method to the current basket, that way we'll be able to see how that affects (for good or not) the basket as it flows in real time. Once basketters begin to see its effectiveness, you would certainly get those who'll indicate interest in applying the method to their basket trading.

Just my two cents though.

Thank you for sharing.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #813
  • Nov 14, 2019 8:11am Nov 14, 2019 8:11am
Dropping hot like potatoes...

Holding 4 re-entries for the long run....

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  • #814
  • Nov 14, 2019 11:47am Nov 14, 2019 11:47am
The first pic is my normal trading of the B10 all pairs same time. The second pic is trading B10 pairs adding at retracement levels based off of my original H4 direction which is short of course. This is very hard for me to do because you have to be in front of the computer a lot of the time but then again no wrong or right way to trade the basket. But overall adding pairs seems to be a bonus pip maker and with more experience I should be able to fine-tune the adding part. I'm nowhere near mastering the adding part yet.

PS adding off of the M15 chart
Attached Images
K.I.S.S.
  • #815
  • Nov 14, 2019 1:06pm Nov 14, 2019 1:06pm
Quoting fmsfx
The first pic is my normal trading of the B10 all pairs same time. The second pic is trading B10 pairs adding at retracement levels based off of my original H4 direction which is short of course. This is very hard for me to do because you have to be in front of the computer a lot of the time but then again no wrong or right way to trade the basket. But overall adding pairs seems to be a bonus pip maker and with more experience I should be able to fine-tune the adding part. I'm nowhere near mastering the adding part yet. PS adding off of the M15...
Thanks for this. I have only a wee bit of experience with basket trading and seeing how a couple pairs can disrupt a basket makes me quite interested in learning how to adjust the mix as the trades develop.

I have not formulated a plan to manage the basket as of yet, I will certainly try to use those oscillator comparisons and also open a chart for each of the 14 pairs, perhaps a couple for quick reference. The rest, I am lost hahahaha

Thanks for that post!
  • #816
  • Nov 14, 2019 1:48pm Nov 14, 2019 1:48pm
These two pics are using CCI 6 for the oscillator when CCI 6 gets to oversold and then reverses this is a sign of trend reversal

So these may be helpful. especially the 4 hour chart.

Comments, please While I think these charts are wonderful, I do not wish to clutter the thread.

These are for the 5 pair basket, I am not sure that these are the pairs that people are using now.



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  • #817
  • Nov 14, 2019 3:52pm Nov 14, 2019 3:52pm
Quoting bishopdotun
Dropping hot like potatoes... Holding 4 re-entries for the long run.... {image}
@Bishopdotun, @R4M - your chart looks like an efficient way of what I am trying to make.

I got the R4M AllPairs EA set to sell short OR long (not both) to follow the trend on a C5 basket (the blue/purpel dots).

and get in on the extremes of the R4M AllPairs Dots. To bad the EA is not working on anything else then standaard forex pairs or on offline charts.
I only trade C5 basket.
On the 5 single charts I have the R4M-BDX-ADR indicator to visualise the extremes as well.

My chart :

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This is not the end, its the end of the beginning. W.C 1942
  • #818
  • Edited 8:42pm Nov 14, 2019 7:34pm | Edited 8:42pm
Quoting Valuejager
{quote} @Bishopdotun, @R4M - your chart looks like an efficient way of what I am trying to make. I got the R4M AllPairs EA set to sell short OR long (not both) to follow the trend on a C5 basket (the blue/purpel dots). and get in on the extremes of the R4M AllPairs Dots. To bad the EA is not working on anything else then standaard forex pairs or on offline charts. I only trade C5 basket. On the 5 single charts I have the R4M-BDX-ADR indicator to visualise the extremes as well. My chart : {image}
Quoting Valuejager
{quote} @Bishopdotun, @R4M - your chart looks like an efficient way of what I am trying to make. I got the R4M AllPairs EA set to sell short OR long (not both) to follow the trend on a C5 basket (the blue/purpel dots). and get in on the extremes of the R4M AllPairs Dots. To bad the EA is not working on anything else then standaard forex pairs or on offline charts. I only trade C5 basket. On the 5 single charts I have the R4M-BDX-ADR indicator to visualise the extremes as well. My chart : {image}
@Valuejager -- I've experimented a bit with the BDX indicator on basket charts and I'm not sure it is suitable for basket trading. Looking at your chart it appears you are using the Tidane indicator to trade away from price extremes. But if you look closely you'll see it is really delayed -- the actual bars for those Tidane transitions are quite far away from where the red and green circles appear on the chart. I don't think that trading away from extreme prices works particularly well in the case of basket trading.

Another thing -- basket trading is inherently IMPRECISE -- and that's okay. In fact, it may even be required. On the other hand, reversal trading does need to be precise because you only have a small window within to trade away.

I can't help myself from continuously testing and experimenting. But I keep coming back to the same conclusion -- I like BDX for reversal trading, and Tidane for super trend-following (e.g. basket) trading.
  • #819
  • Nov 15, 2019 2:50am Nov 15, 2019 2:50am
Quoting bishopdotun
Dropping hot like potatoes... Holding 4 re-entries for the long run.... {image}
Another re-entry...
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  • #820
  • Nov 15, 2019 3:44am Nov 15, 2019 3:44am
Quoting bishopdotun
{quote} Another re-entry... {image}
Nice pink or blue dot reentrys.
EX BBMA trader focusing on REE code.
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