Basket Knights - A Basket Trading Round Table | Page 46 | 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

  • #901
  • Nov 21, 2019 9:43am Nov 21, 2019 9:43am
Quoting aaven
{quote} Thanks Bishop... Just for clarification on "Trend" and"opposite Trend" Buy Tidane Signal on RB7 means, one executes the below orders? Buy [CADJPY,AUDJPY,NZDJPY,EURJPY,AUDUSD,USDJPY,NZDUSD,EURUSD,AUDCAD,NZDCAD] + Sell[AUDNZD,EURNZD,EURAUD,EURCAD,USDCAD]
Correct.
  • #902
  • Nov 21, 2019 12:42pm Nov 21, 2019 12:42pm
Really????!

I was just re-reading Steve's and Bishops posts about the new RB7 basket and see the posts are disliked.

Here are the Basketers who are working and experimenting and sharing their work-when they could have easily kept the work to themselves. Do you know the amount of selflessness and character to do what they are doing?

Irked to me no end as to why someone would have a problem and i see zero reason for any criticism.

To the person disliking the post-In case you weren't taught: It doesn't behove a man to wear a skirt and neither does being a coward.
  • #903
  • Nov 21, 2019 1:10pm Nov 21, 2019 1:10pm
Quoting aaven
Really????! I was just re-reading Steve's and Bishops posts about the new RB7 basket and see the posts are disliked. Here are the Basketers who are working and experimenting and sharing their work-when they could have easily kept the work to themselves. Do you know the amount of selflessness and character to do what they are doing? Irked to me no end as to why someone would have a problem and i see zero reason for any criticism. To the person disliking the post-In case you weren't taught: It doesn't behove a man to wear a skirt and neither does...
@aaven -- thank you -- and it's okay. I know who it is and I don't mind -- it let's me know they are still interested and appreciate my work. Even a 'dislike' is an acknowledgement.

I don't want to bring any drama to Ty's thread -- so, I won't say anything more about my old FF baggage here...
  • #904
  • Nov 21, 2019 1:13pm Nov 21, 2019 1:13pm
Quoting robots4me
{quote} @aaven -- thank you -- and it's okay. I know who it is and I don't mind -- it let's me know they are still interested and appreciate my work. Even a 'dislike' is an acknowledgement. I don't want to bring any drama to Ty's thread -- so, I won't say anything more about my old FF baggage here...
I didn't realize that was the case, Steve...

Thank you once again for all the tremendous work you have shared with the community...
  • #905
  • Nov 21, 2019 2:07pm Nov 21, 2019 2:07pm
Quoting robots4me
{quote} @aaven -- thank you -- and it's okay. I know who it is and I don't mind -- it let's me know they are still interested and appreciate my work. Even a 'dislike' is an acknowledgement. I don't want to bring any drama to Ty's thread -- so, I won't say anything more about my old FF baggage here...
@robots4me, I am the "owner" of this thread and I APPRECIATE your input here. I've said it before and I will continue to do so PERIOD! If no one else acknowledges your good work in Forex Factory, suffice it to say that my SINGULAR appreciation is enough to generate exponential positive Karma for you going forward.

That being said, I am NOT drama-averse. Point me to the person who is disliking these posts and I'll place them on my ignore list no questions asked.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #906
  • Nov 21, 2019 2:15pm Nov 21, 2019 2:15pm
I took advantage of Fundamentals and Price extremes to pull-off a Counter-Trend trade on the CAD. Here're the steps I took:

#1. The News/Calendar events for the week showed a chance (forecast) that CAD might appreciate.
Attached Image (click to enlarge)
Click to Enlarge Name: 00w14d2a_CADreds.png Size: 28 KB

#2. CAD crosses were at "extremes" and were simply BEGGING to be traded Counter Trend.

#3. I selected 4 CAD crosses to use as a potential basket: EURCAD, GBPCAD, NZDCAD, USDCAD.

#4. Just before the News release, I placed some Pending Orders (POs) on my selected pairs. This I did just in case Price "runs away" at News release and doesn't offer me a DC.

#5. As forecasted, CAD news came out positive for the currency.
Attached Image (click to enlarge)
Click to Enlarge Name: 00w14d2b_CADreds_After.png Size: 29 KB

#6. Also as expected, MMs stretched the price in the OPPOSITE direction to try and shake off CAD bulls. Since I anticipated this move, I simply left my Level1 trades open and reserved my ammunition for the DC.

#7. I placed more POs under Price and after shaking off the early CAD bulls, Price DC-ed and headed in the right direction taking my POs with it.

#8. Current Results:
Attached Image (click to enlarge)
Click to Enlarge Name: 00w14d2c1_EURCADH4.png Size: 50 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 00w14d2c2_GBPCADH4.png Size: 50 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 00w14d2c3_NZDCADH4.png Size: 53 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 00w14d2c4_USDCADH4.png Size: 51 KB

Attached Image


#9. Who knows what's in store for EUR crosses tomorrow...?

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #907
  • Nov 21, 2019 2:27pm Nov 21, 2019 2:27pm
Quoting TyLamai
CAD crosses were at "extremes" and were simply BEGGING to be traded Counter Trend. #3. I selected 4 CAD crosses to use as a potential basket: EURCAD, GBPCAD, NZDCAD, USDCAD. #8. Current Results: #9. Who knows what's in store for EUR crosses tomorrow...?
Very well done! . Thnx for the detailed explanation together with the fundamentals.

Lee
Fix your thoughts on what is true, and honorable, and right, and pure...
  • #908
  • Nov 21, 2019 4:29pm Nov 21, 2019 4:29pm
Quoting LifeHunt3r
{quote} Very well done! . Thnx for the detailed explanation together with the fundamentals. Lee
You're welcome and thanks for your input too!

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #909
  • Nov 21, 2019 5:03pm Nov 21, 2019 5:03pm
Same CAD taken

Attached Image (click to enlarge)
Click to Enlarge Name: JdalK03.png Size: 92 KB
  • #910
  • Edited Nov 22, 2019 3:44am Nov 21, 2019 5:15pm | Edited Nov 22, 2019 3:44am
To check for correlation I go to -


Attached Image (click to enlarge)
Click to Enlarge Name: cKO2Efk.png Size: 119 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 2OJfIFq.png Size: 75 KB
  • #911
  • Nov 21, 2019 8:03pm Nov 21, 2019 8:03pm
Quoting TyLamai
{quote} NOTE: THIS IS GOING TO BE A LONG POST (but a very important one (IMHO))! Re: The fundies, you are most welcome LifeHunt3r, happy to be of service. Please permit me to use your post as a point of reference to dig further into the matter below. Thanks. Meanwhile your setup above is looking really fly and snazzy! Cool. I might look into creating a TyC8 and TyCX to mirror yours... I once tried trading the NZD7 basket as is and the market INJURED me really good! What happened? Well as @robots4me says, the offline basket chart is a VIRTUAL index...
@TyLamai -- I revisited your post about creating an NZD-centric Index that includes flipped" NZD pairs and decided to give it a try. I think it looks promising. I have not yet traded it but I like the idea of focusing on NZD -- especially since I like NZDUSD for trend-following since it is much "smoother" than other pairs.

I'm attaching (see below) the basket creator indicator that @bishopdotun and I use for creating the RB7 index. It also includes options to create other indexes:
RB7, RB15, C5, C14, NZ7

To use this basket creator one *** MUST *** attach it to a GBPJPY / M1 chart. Again, it must be GBPJPY / M1. Also, this indicator uses OnTimer, rather than OnTick -- the default timer setting is 60 seconds. That means it updates the OHLC data once every 60 seconds. This makes the indicator much less CPU-intensive. Please -- if someone plans to use this indicator just stick with the default values. Please don't set the interval to 1 second and then complain the indicator is too CPU-intensive.

Also, this basket creator does normalize the OHLC data -- so the resulting C5, C14 Indexes may look slightly different than the basket creator you are currently using.

And, finally, I want to again make the distinction between an Index and a Basket. You do not trade an Index. An Index is the bar chart. The combination of the Index with the Tidane indicator creates signals. So -- the Index is ONLY used to create signals. What you do with the signals is up to you.

The basket includes the pairs that you will be trading. It may be the same as the pairs used to construct the Index or it may be different -- that's up to you. I divide the basket into two groups -- Group A includes pairs that I will trade in the same direction as the Index's trend, and Group B are the pairs that I will trade in the opposite direction. If the Tidane indicator displays a BULLISH trend then I will BUY Group A and SELL Group B. Or if the Tidane indicator displays a BEARISH trend then I will SELL Group A and BUY Group B. In the case of the new NZ7 Index, Group A would include NZDCAD, NZDCHF, NZDJPY, NZDUSD, and Group B would include AUDNZD, EURNZD, GBPNZD.

Again -- I haven't yet used the NZ7 Index and can't confirm or guarantee anything, but I think it is correct. Below is a screenshot comparing the NZ7 Index created by the R4M-BasketCreator.ex4 indicator and the same "pseudo" index created by a modified version of the BasketChart2 indicator shared by @LifeHunt3r. When you compare the patterns of the Smoothed HAs, then the two indexes look very similar, so I think I've got it right.
Attached Image (click to enlarge)
Click to Enlarge Name: NZD7-Flipped-Index.png Size: 75 KB


And here's a link to the R4M-BasketCreator indicator:
Attached File(s)
File Type: ex4 R4M-BasketCreator.ex4   54 KB | 398 downloads
  • #912
  • Edited 3:41am Nov 22, 2019 12:31am | Edited 3:41am
Hey,
Mataf's developer here. Glad you use my correlation tool.
I'm currently working on this section of my website, if you have any suggestion to improve it, I'm here to help.
Arnaud

edit: removed the link
  • #913
  • Edited 3:34am Nov 22, 2019 3:18am | Edited 3:34am
Quoting mixedbags
To check for correlation I go to {image} {image}
Quoting Mataf
{quote} Hey, Mataf's developer here. Glad you use my correlation tool. I'm currently working on this section of my website, if you have any suggestion to improve it, I'm here to help. Arnaud
Mixedbags & Arnaud,

Very valuable input, however, please be extremely careful to post any link in here referring to any commercial sites/services, even if a part of that site is for free and another part is commercial. This could lead to this thread being moved to commercial as quick as you can type the word Twee. Please either remove posts or clearly state that all material referenced is free. Please, please, please...

And please, I do not mean any offence! Neither to you two, nor to Ty for me barging in here with this message, but it is very important for all of us to have a non-commercial basket-trading space in which we can all participate.

In humility,

Lee
Fix your thoughts on what is true, and honorable, and right, and pure...
  • #914
  • Nov 22, 2019 3:52am Nov 22, 2019 3:52am
Sure, I removed the link on my post. All is free and has been free for the past 16 years.
I don't know mixedbags, it was not an undercover marketing operation I'm just looking for new ideas
  • #915
  • Nov 22, 2019 3:59am Nov 22, 2019 3:59am
Quoting robots4me
{quote} @TyLamai -- I revisited your post about creating an NZD-centric Index that includes flipped" NZD pairs and decided to give it a try. I think it looks promising. I have not yet traded it but I like the idea of focusing on NZD -- especially since I like NZDUSD for trend-following since it is much "smoother" than other pairs. I'm attaching (see below) the basket creator indicator that @bishopdotun and I use for creating the RB7 index. It also includes options to create other indexes: RB7, RB15, C5, C14, NZ7 To use this basket creator one ***...
Kudos Steve... Tremendous Contribution- both-Trading Insights and the Basket Creator Indicator...
  • #916
  • Nov 22, 2019 4:02am Nov 22, 2019 4:02am
Quoting robots4me
{quote} @TyLamai -- I revisited your post about creating an NZD-centric Index that includes flipped" NZD pairs and decided to give it a try. I think it looks promising. I have not yet traded it but I like the idea of focusing on NZD -- especially since I like NZDUSD for trend-following since it is much "smoother" than other pairs. I'm attaching (see below) the basket creator indicator that @bishopdotun and I use for creating the RB7 index. It also includes options to create other indexes: RB7, RB15, C5, C14, NZ7 To use this basket creator one ***...
Looking good @robots4me!

Thanks for the addition. I've always thought that this was what the BasketCreator indie SHOULD look like (i.e. drop downs and all). Well done man.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #917
  • Nov 22, 2019 4:05am Nov 22, 2019 4:05am
Quoting Mataf
Hey, Mataf's developer here. Glad you use my correlation tool. I'm currently working on this section of my website, if you have any suggestion to improve it, I'm here to help. Arnaud edit: removed the link
Wow...very humble of you. PLUS 1 in my book.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #918
  • Nov 22, 2019 4:06am Nov 22, 2019 4:06am
Quoting Mataf
Sure, I removed the link on my post. All is free and has been free for the past 16 years. I don't know mixedbags, it was not an undercover marketing operation I'm just looking for new ideas
You are welcome here anytime. Thanks for stopping by.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #919
  • Nov 22, 2019 4:11am Nov 22, 2019 4:11am
Quoting LifeHunt3r
{quote} {quote} Mixedbags & Arnaud, Very valuable input, however, please be extremely careful to post any link in here referring to any commercial sites/services, even if a part of that site is for free and another part is commercial. This could lead to this thread being moved to commercial as quick as you can type the word Twee. Please either remove posts or clearly state that all material referenced is free. Please, please, please... And please, I do not mean any offence! Neither to you two, nor to Ty for me barging...
Notice how I knew from DAY 1 that your brain was screwed on RIGHT!? Lol.

Thanks for noticing - I sure didn't. I appreciate that. And PLEASE never feel you are "barging in here" whenever you are trying to set anything right in this place (and this goes for all other contributors too). It's all our "duty/responsibility" to keep this Round Table uncluttered and in the right room. As I mention in the first post, nothing is for sale here.

Thank you LifeHunt3r.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #920
  • Nov 22, 2019 4:15am Nov 22, 2019 4:15am
Quoting TyLamai
{quote} Wow...very humble of you. PLUS 1 in my book. Regards and Stay fluid, Ty
Thanks, much appreciated
0 traders viewing now