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Basket Knights - A Basket Trading Round Table

  • #1,241
  • Mar 16, 2021 7:04am Mar 16, 2021 7:04am
Quoting TyLamai
... Basket trading is not as "sexy" as other forms/strategies/methods/systems of trading...
Oooh Brother,

I have to disagree.

Basket Trading can be very sexy...

Attached Image (click to enlarge)
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Fix your thoughts on what is true, and honorable, and right, and pure...
  • #1,242
  • Mar 16, 2021 8:00am Mar 16, 2021 8:00am
Quoting LifeHunt3r
{quote} Oooh Brother, I have to disagree. Basket Trading can be very sexy... {image}
You misunderstand my point LifeHunt3r - I do not disagree that Basketting can be made sexy, I'm simply saying that in its default look, it isn't sexy enough for most "bells and whistles" traders to find interesting enough...and I think your post actually proves my point if you think about it.

Anyway, suffice it so say that Basketting has always been, and will always be, uber-profitable however way you cut it on the condition that the user knows how to wield the immense power it offers.

No argument here.

Trade safe.

Regards,

Ty
My job: I speculate and manage risk.
  • #1,243
  • Mar 16, 2021 8:16am Mar 16, 2021 8:16am
Quoting TyLamai
{quote} You misunderstand my point LifeHunt3r - I do not disagree that Basketting can be made sexy, I'm simply saying that in its default look, it isn't sexy enough for most "bells and whistles" traders to find interesting enough...
Ty,

The disagreeing was purely poking fun at you. I fully understand and want to add that I think basket trading is just too much work for some traders and therefor something to be avoided.

I love it and will always be a basket surfer.
Fix your thoughts on what is true, and honorable, and right, and pure...
  • #1,244
  • Mar 16, 2021 8:48am Mar 16, 2021 8:48am
Quoting LifeHunt3r
{quote} Ty, The disagreeing was purely poking fun at you. I fully understand and want to add that I think basket trading is just too much work for some traders and therefor something to be avoided. I love it and will always be a basket surfer.
Thanks LifeHunt3r, keep 'em coming. I sure can use all the fun I can get in this business.

I also understand that Basketting may be too much fun for some but sincerely one of the reasons this thread was started was in the hopes of getting serious Basketters (hence the name Basket Knights and not Basket Babies - lol) to congregate together and create, maybe, the next evolution of Basket trading.

Anyway, as long as we, as traders, are able to find a consistent way to make money from forex trading, all is good!

Thanks for stopping by LifeHunt3r.

Regards,
Ty
My job: I speculate and manage risk.
  • #1,245
  • Mar 16, 2021 2:56pm Mar 16, 2021 2:56pm
I see. So it's an indicator on the Basket, just to give the trader directional guidance. Very nice. I will keep experimenting with these tools and watching the market. I have been using an active spreadsheet with the DDE link to trade the basket for years, but it just gives me a bunch of numbers (that the basket ... 14 and/or core 5 ... are up or down based on a fixed starting point. These indies are a huge improvement over my current method because they give me history and a trend perspective. Thanks for sharing.
  • #1,246
  • Mar 16, 2021 4:30pm Mar 16, 2021 4:30pm
I import 1 month of 5, 15 and 30 data. I look for good spread. I consider the correlation, time of day, volume, moving average and of course, watch the behavior of the basket for all timeframes. Also, look at extreme Ranges, high and low. (Each pair has its own high and low) average them, consider extreme to look at risk.

I am using the brokers Own Rest API, then I copy the trades real time using memory mapping to MT4. As Coinex doesnt have an API.

Thats the general idea.
  • #1,247
  • May 11, 2021 4:34am May 11, 2021 4:34am
Good thread, just started reading. I hope to contribute some ideas, although the thread has become quiet.

Best,

Dave
  • #1,248
  • May 11, 2021 5:19am May 11, 2021 5:19am
i dont think the idea of basket of pairs trading works these days,all pairs are independent ,i dont find much correlations
  • #1,249
  • May 12, 2021 12:04pm May 12, 2021 12:04pm
Quoting davelansing
Good thread, just started reading. I hope to contribute some ideas, although the thread has become quiet. Best, Dave
Welcome davelansing and thanks for the kind words. I would like to think that the thread is quiet because basketters are busy basketting...

Anyhow, please feel free to share your thoughts and finding here are you like.

Regards,

Ty
My job: I speculate and manage risk.
  • #1,250
  • May 12, 2021 12:14pm May 12, 2021 12:14pm
Quoting T4Trade
i dont think the idea of basket of pairs trading works these days,all pairs are independent ,i dont find much correlations
T4Trade,

Ya think!?

I say you are dead wrong if you know what you are doing (Hint: Fundamentals, Discount Zones (DCs), Basketting...)

Below is just from today trading basically EURUSD, GBPUSD, AUDUSD, AUDJPY, and a bonus pair (USDCAD).

Attached Image

Do you still think there isn't "much correlations these days..."?

Regards,

Ty
My job: I speculate and manage risk.
  • #1,251
  • May 12, 2021 12:19pm May 12, 2021 12:19pm
A word of advice guys:

NEVER trade ANYTHING blindly. It's NEVER about the color changes...nor is it about the "current" sentiment. Granted, they all matter but NEVER in isolation. It's ALL interconnected.

Basket Pairs/Strength
Discount Zones (DCs)
FUNDAMENTALS!

Pay attention guys...

Regards,

Ty
My job: I speculate and manage risk.
  • #1,252
  • May 13, 2021 12:51am May 13, 2021 12:51am
Quoting TyLamai
{quote} T4Trade, Ya think!? I say you are dead wrong if you know what you are doing (Hint: Fundamentals, Discount Zones (DCs), Basketting...) Below is just from today trading basically EURUSD, GBPUSD, AUDUSD, AUDJPY, and a bonus pair (USDCAD). {image} Do you still think there isn't "much correlations these days..."? Regards, Ty
I apologize for my ignorance,whenver i have tried correaltion and basketting,i found it not working,may be i was doing soemthing wrong,let me try again,thanks for the insight!
  • #1,253
  • Edited 1:02pm Jun 3, 2021 11:46am | Edited 1:02pm
So the market takes a turn and confirms H4 short. Let see how far this short will travel.

Trading Core5 pairs only. Got in from pretty much the main signal hoping to hold this one out for a good haulage.

Hats off to the core writers of the thread. Much to be learnt.
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Pip Student
  • #1,254
  • Jun 4, 2021 2:39am Jun 4, 2021 2:39am
Possible short discount points?
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Pip Student
  • #1,255
  • Edited 1:28pm Jun 4, 2021 1:11pm | Edited 1:28pm
Well we deff went for a discount after chart.
Green line was the stopping point for this discount cycle. Looking back I can see why, red lines where i thought it could of gone. Would anyone of picked the green line the first time round?

If so what would of drawn you to the point it did stop today?

Always fascinated me when people know exactly where it will turn / stop
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Pip Student
  • #1,256
  • Jun 9, 2021 12:27pm Jun 9, 2021 12:27pm
Some pips taken today seems the sells continue

Will look for some m15 retrace to get in another sell
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Pip Student
  • #1,257
  • Jun 17, 2021 5:04am Jun 17, 2021 5:04am
Recently been taking m15 trades around London open - new your for 100 pips a go. Seems pretty sound if you get in when m15 realigns too the h4 direction.
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Pip Student
  • #1,258
  • Oct 16, 2021 12:37pm Oct 16, 2021 12:37pm
Hi guys,

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If this gets enough interests (by way of Likes), then I might give an update on combining Basketting with Order Blocks...

Regards,

Ty
My job: I speculate and manage risk.
  • #1,259
  • Oct 16, 2021 12:41pm Oct 16, 2021 12:41pm
Quoting TyLamai
If this gets enough interests...
Yess Ty,
Thanks a lot
jean-françois
  • #1,260
  • Oct 16, 2021 6:35pm Oct 16, 2021 6:35pm
I am Interested TY.
Greetings from New Zealand
Patrick
U won't really understand GRACE untill you fully realise you've been GRACED
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