Basket Knights - A Basket Trading Round Table | Page 59 | 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

  • #1,161
  • Edited Jan 20, 2020 12:31am Jan 19, 2020 6:31pm | Edited Jan 20, 2020 12:31am
C14 H4 (TD20,3) is signaling a Valid Buy basket.

Wait for DCs and trade accordingly.

If in doubt, the following are currently in PRIME DC locations/zones...(again!)...(of course this is in my humble opinion):
*b=Buys | s=Sells

AUDUSDb
EURCHFb (if you trade that)
EURGBPs (remember this is a FLIP pair. Also remember the End of Month Brexit thingy)
EURUSDb
GBPCHFb (*See Brexit caution above)
GBPUSDb (*See Brexit caution above)
NZDUSDb

*NOTE: All the above are valid UNTIL C14 H4 signals a Sell basket.

Regards and Stay fluid,

Ty
Attached Image (click to enlarge)
Click to Enlarge Name: 00w23a1b_TyC514H4.png Size: 52 KB
My job: I speculate and manage risk.
  • #1,162
  • Jan 19, 2020 6:33pm Jan 19, 2020 6:33pm
Quoting TyLamai
{quote} Nope. No "action" in the Skype group either. Incidentally, I decided to shut that down late last year - needless to say, it did not achieve its desired purpose...I think "serious basket trading" and Skype grouping do not go together it would seem. Anyway, I'm shutting that down at the end of this month. I apologize for any inconvenience caused. Regards and Stay fluid, Ty
Well thanks for introducing us all to this method again.

Your news updates definately read and useful

Maybe 2020 more will get on board in the thread we had it going for a while there.
Simon

PS I have been experimenting with Ichimoku on these basket charts....well worth looking at. With entrance after Kijen Sen cross.
EX BBMA trader focusing on REE code.
  • #1,163
  • Jan 19, 2020 6:41pm Jan 19, 2020 6:41pm
Fundies: Truths and Rumours.
*Don't forget this...

"Great Week for Dollar, Euro Recovery Ahead?

The US dollar wraps up another good week with gains against most of the major currencies. The only exceptions were the Swiss Franc which climbed to its strongest level in 3 months and the Canadian dollar, which held onto its recent gains. Investors brushed off softer US inflation data in favor of stronger retail sales, manufacturing activity and pickup in housing starts. However stabilization in US yields and the record breaking moves in US stocks are the primary reasons why investors are piling into US dollars. In the week ahead, there's very little to deter the greenback's positive outlook as there are no major market moving economic reports on the calendar and US markets are closed for Martin Luther King Jr. Day on Monday. If there are any unexpected political or geopolitical headlines, USD/JPY will be negatively affected but the greenback should extend its gains against other currencies.

UK and Chinese data were the bigger stories. Consumer spending in the UK contracted for the second month in a row in what is normally the most critical shopping month. Even Prime Minister Johnson's smooth election victory failed to bolster demand. Between the softer industrial production, trade, inflation and now retail sales numbers, the odds for a first quarter rate cut from the Bank of England is extremely high. At minimum when they meet again, more than 2 members of the monetary policy committee could vote in favor of easing. Interestingly, sterling is just beginning to lose momentum. With further losses expected in the week ahead, UK labor and PMI reports could exacerbate the slide. GBP/USD ends the week near 1.30 but could slip below 1.29 if data is weak.

China on the other hand reported stronger trade, industrial production and retail sales numbers this week. Unfortunately AUD and NZD failed to benefit from these reports as investors worry about domestic pressures. For Australia, its only a matter of time before data reflects the negative damage caused by the wildfires and for New Zealand, manufacturing activity contracted in December. So while China's economy may have stabilized at the end of the year, New Zealand's is losing momentum. AUD and NZD are in focus next week with Australian labor market and New Zealand inflation numbers scheduled for release.

However the main currencies to watch are euro and loonie because the European Central Bank and Bank of Canada will hold monetary policy meetings. The ECB is currently undergoing policy review and could change their inflation goal for the first time in 17 years. This change and its explanation could have a dramatic impact on the euro. January PMIs which give us a first look at how the Eurozone economy is doing at the start of the year is also a marketing moving event for euro. Meanwhile no changes are expected from the Bank of Canada but given the unevenness of recent data, investors will be eager to see if the chance of easing increased. While euro lost value this week, data continues to improve giving us confidence that the pair could head back up to 1.12 in the next few weeks. USD/CAD on the other hand consolidated in a tight range and is prime for a breakout." - Kathy Lien, BK Asset Management


*NOTE: From the highlights above, it should be clear to see that the way to go would be to WAIT for Discount Zones to be reached because the market is still in disarray...it needs to settle before we can expect "clean and smooth" Basket trends (IMHO).

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #1,164
  • Jan 19, 2020 6:44pm Jan 19, 2020 6:44pm
Quoting Simontw
{quote} Well thanks for introducing us all to this method again. Your news updates definately read and useful Maybe 2020 more will get on board in the thread we had it going for a while there. Simon PS I have been experimenting with Ichimoku on these basket charts....well worth looking at. With entrance after Kijen Sen cross.
Hi Simontw,

Great to see you are still here and kicking. Hope you had a great break.

Share your findings with Ichy when you are ready.

Maybe someday traders would get it: The more we share the sharper our edge (potentially).

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #1,165
  • Jan 19, 2020 6:57pm Jan 19, 2020 6:57pm
Quoting Szomihu
{quote} Hello, Fist of all! I would like to say BIG Thanks to TyLamai and LifeHunter for basket trade teaching. I use C8 basket and made a little scalp on this morning before London session. My low balance now only let the scalp strategy. My brain cant accept bigger DD so if I can catch 10 - 20 pips in same time on 8 pairs it is the best for me now. Im just testing it first. But looks very good. Next to TDI I use Stoch cross signs 10 - 3 - 4 (redorange/blue) 50 - 30 - 2 (white) 50 - 2 - 30 (pink/green) It just help me to show where were the...
You are welcome Szomihu.

Please note that there is no pressure whatsoever to trade in any particular way. No right or wrong way.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #1,166
  • Jan 19, 2020 6:58pm Jan 19, 2020 6:58pm
[quote=Szomihu;12666263]
Quoting Szomihu
{quote} That is why need test first. As I said I prefer small DDs now. So after the post I made SL basket +0.5$ (function as PL) It reached in a minute and after go to south. I need to read TyLamai's basket SL post again and make my strategy to basket trades. Cheers. Bence
I hope you were able to find something useful.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #1,167
  • Jan 19, 2020 7:00pm Jan 19, 2020 7:00pm
Quoting KonstantinSt
subscribe and start testing. so far so got Can you make basket whit AUD and NZD pairs (audusd, audeur, audjpy, audgbp and same for nzd) I think that there will be excellent results
Welcome KonstantinSt.

Yes you can make a boatload of different Basket/Index types and combinations. BUT...MORE IMPORTANTLY...first try to understand how all of these work together to better maximize this way of trading before delving into the creating of various Indexes.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #1,168
  • Jan 19, 2020 7:03pm Jan 19, 2020 7:03pm
Quoting Elsaloon
Happy new year to everybody and thank you to those who share theire work Chris
You are welcome Elsaloon and Happy New Year to you too.

Hope you had a great vacation.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #1,169
  • Jan 19, 2020 7:04pm Jan 19, 2020 7:04pm
Quoting grenell
{quote} Have just come across your thread...the above just answered one of my questions. All good now...everything loaded and now working. I will try using a Script called Easy Order (in the FF threads) to place orders. 0.01 lots as my default, (optional Lot or Risk based calculation)...sets P-Order lines with SL and TP that you can move to your desired SL$ value (and TP). Seems to work well for your recommended Risk $40 etc-easy to use/move the lines without having to calculate anything, all the work done for you. I will start it up next week....
Welcome grenell.

Have you "caught up" yet? Any questions? Or are you all good...?

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #1,170
  • Jan 19, 2020 7:07pm Jan 19, 2020 7:07pm
Quoting bishopdotun
{quote} Happy New Year to y’all. Still long.... {image}
Happy New Year to you and yours BD.

No doubt you've ERADICATED any temporary "losses" from last year's trading with all these lengthy and protracted TD28,3 trends.

Here's to a MORE profitable Basketting Year in 2020!

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #1,171
  • Jan 19, 2020 7:09pm Jan 19, 2020 7:09pm
Quoting Valuejager
Happy new year and best wishes to TyLamai and everyone ! @bishopdotun, interesting you moved to 20/3. did you do it for a bit earlier exits ?
Happy New Year to you too Valuejager.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #1,172
  • Jan 19, 2020 7:13pm Jan 19, 2020 7:13pm
Quoting grenell
Hi Ty & others, Just finished reading the whole thread...taking notes/screen shots etc. Now to go over my notes (and reduce the size from 46 pages to a concise summary) and get a fresher understanding. Great seeing the many examples from all traders-many who are skilled at their work. I have included a screen shot of my chart set up with some of my early notes/understanding of the system. I'm sure after re reading my notes some aspects/understanding will change. I havent tackled the individual charts as yet and how they could play out in deciding...
Hi Rod,

Looking good.

Hoping to see more contributions from you. Needless to say, experience plays a role ALSO with Basketting.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #1,173
  • Jan 19, 2020 7:15pm Jan 19, 2020 7:15pm
Quoting Elsaloon
{quote} We are alone Hello Ty where are tou ?
Here am I Elsaloon.

What wouldest thou have me do for thee?

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #1,174
  • Jan 19, 2020 7:17pm Jan 19, 2020 7:17pm
If you've posted and for some crazy reason I missed your post or your question remains unanswered, please do not hesitate to re-post or draw my attention to it.

Thanks.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #1,175
  • Jan 19, 2020 8:45pm Jan 19, 2020 8:45pm
Quoting TyLamai
{quote} Welcome grenell. Have you "caught up" yet? Any questions? Or are you all good...? Regards and Stay fluid, Ty
Hi Ty
Have had a break over the Christmas/new year period...still trading the DAX LO for 2 hours. I like the idea of basket trading. My Charts all set up, my understanding is better now. I have been looking only at the C5 setups H4/60/15 and associated FX pairs/charts....getting my head around the DS and better understand when to apply it and to what.
I guess the only question is what determines a DS...the C5 then the C60/15? Do you drop the script and change the magic for ALL the pairs....or do you use the FX pairs charts to determine individual entry points if there is one?- IE. selective trades or bulk trades?
Regards
Rod
  • #1,176
  • Edited 2:46am Jan 20, 2020 2:15am | Edited 2:46am
Hi Ty
as I understand it....My C5 H4 is starting to paint a change of direction. Need to wait until 4hr closes to confirm. I can enter at the close of the 4hr candle by dropping on the SELL scripts....or I can wait and see if there is pullback and wait for DC... Question, on what chart time frame is best?, both the C5-1hr and C5-15M/....or look at the individual charts to time my entry.
Attached Image (click to enlarge)
Click to Enlarge Name: C5.png Size: 119 KB
  • #1,177
  • Jan 20, 2020 7:26am Jan 20, 2020 7:26am
Quoting TyLamai
{quote} Welcome grenell. Have you "caught up" yet? Any questions? Or are you all good...? Regards and Stay fluid, Ty
Good to see you back home
I’ ll try to participate more and find new ideas to help
Cheers
Chris
  • #1,178
  • Edited Jan 21, 2020 1:21am Jan 20, 2020 10:43pm | Edited Jan 21, 2020 1:21am
This is an indi you see everywhere. It is MTF so I set it to H4 and put it on a H1 chart.
I think this is how I will baskets this year. Works better for me than the Tidane.
EDIT: to add indi.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 69 KB
Attached File(s)
File Type: ex4 HalfTrend 2.ex4   29 KB | 385 downloads
EX BBMA trader focusing on REE code.
  • #1,179
  • Jan 21, 2020 12:22am Jan 21, 2020 12:22am
Quoting Simontw
This is an indi you see everywhere. It is MTF so I set it to H4 and put it on a H1 chart. I think this is how I will baskets this year. Works better for me than the Tidane. {image}
Hi
What is the indicator measuring? Is it MA/STO/RSI or something more exotic.
Cheers
Rod
  • #1,180
  • Jan 21, 2020 1:22am Jan 21, 2020 1:22am
Quoting grenell
{quote} Hi What is the indicator measuring? Is it MA/STO/RSI or something more exotic. Cheers Rod
Just added the indi.
EX BBMA trader focusing on REE code.
2 traders viewing now