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Simplicity is the Key

  • #3,261
  • Jun 4, 2008 7:40am Jun 4, 2008 7:40am
hi
i read already so many pages and i cant find the rules of the strategy of this simple method maybe but very complicated to find the post explaining it
couls any one direct me to the post where i can find the rules
thanks
  • #3,262
  • Jun 4, 2008 7:55am Jun 4, 2008 7:55am
Imad:

Trader101 has never completely explained his method. That's why you haven't been able to find it. He has given some hints on the strategy he uses, but I doubt he will ever release it publicly. I could be wrong of course!

Reading through all the pages is useful though to give you some idea of what this thread is all about.
  • #3,263
  • Jun 4, 2008 9:45am Jun 4, 2008 9:45am
Hi All

Forgive me if I am wrong, still slowly reading through the thread...on page 102 at the moment, but just been following the last few trades and notice that the SL is easily 300 points from the original entry, for example on the below trade the entry was 1.5461 and the original SL as per the attachment was 1.5161, a difference of 300. From what I have read so far the SL was always 20 or 30 max. Has this changed or am I reading this the wrong way.

Thanks for your help really appreciate it


20) Buy EurUsd @ 1.5461 closed 1.5464 --- +3
so was the SL really 1.5161, 300 away?
  • #3,264
  • Jun 4, 2008 10:26am Jun 4, 2008 10:26am
I am observing a lot of traders being obsess with SL and TP. SL could be use in so many ways, not just to protect that specific trade you have. SL can also serve as protection to spurious spikes your brokers employ once in a while (not specifically for us small traders but for major players). Needless to say we are affected as well. The 300 SL is my protection against spikes. Not against reversal trend. My SL, most of the time is 100 per trade cumulative to how many trades I have at that particular basket of trade. My preference actually, is Zero SL trading. The EA will take care of the cumulative total SL. However, as a double protection when EA could not act quickly a 300 sl on server is a good protection against spikes. Also, I hate being stop out on a trade because of tight stoploss that the broker educate us when we were new in this game.
Nemke—your posting caught my attention..You have to highlight the +3 profit against a 300SL not the +135 over the 300 but I know it was not your intent to put malice but that highlight really made my methodology look amateurish. You really have to read more about this thread and my trading method and perhaps your questions will be answered as you slowly get this information.
  • #3,265
  • Jun 4, 2008 10:44am Jun 4, 2008 10:44am
Many have been asking about the Rules and Strategy of the system I am using. Well, I have my own strategy, you should have one for you as well. My strategy is called the “Basket Trading Strategy”.

This is how you can test my strategy..
1. Use your favorite indicator/s, use your long and short entry method. Manual or EA, its your call
2. Use your method in those 14 currency pairs I recommended to trade.
3. Trade the pairs one at a time or as they comply to your entry rule.
4. Set your tp for each pair according to your preference. My tp is 100 for jpys pairs & 60 for the rest.
5. If you reached the tp point, either you raised the stop or you collect your profit and if the condition still exist reenter again.
6. Set you SL to 300 every trade you enter, if you have a valid entry/exit strategy that you can use in 60min TF this SL will never be hit until the exit rule is attained.
7. Remember follow your rule religiously and stop looking at correlation that prevent you from trading even if your rule says so. Ex. Your rule says… Buy EurUsd also it say Buy UsdChf.. then you refrain yourself from trading the second one because it is against the correlation rule. This doesn’t happened often but it happened.
This is my “Theory of Basket Trading” BUT I COULD BE WRONG… Any more question ???
  • #3,266
  • Jun 4, 2008 3:53pm Jun 4, 2008 3:53pm
Quoting nemke
Hi,

I am new to this thread, it sounds very good. I can't find the actual strategy, for entry? Please can someone post the page number where this is explained?

Thanks!


Nemke

Trader had provided some explanation of his method on page 160 post 2390;
on page 165 post 2468 Trader provides reasons for the pairs to trade and for the general premise of the "basket theory" can be found beginning on page 195.

Other helpful posts at least for me were by ZeeJay beginning on page 163 post 2443; his other posts 2473,2474 and 2476 were also very good.

Perhaps most importantly they point in a direction or assist (to remain simple in our trading outlook) and want us to develop our own sense and value of the market.

I hope this helps.

Let the adventure continue!
  • #3,267
  • Jun 5, 2008 12:57am Jun 5, 2008 12:57am
trader 101 & Holn1dream,

Thank you both for the replies. I am still reading the thread to try and understand as much as I can about this strategy. I love this thread and the support given by trader101 and other members and do realise I have to spend some time reading and paper trading before I dive in and go live.

I'll go back to page 102 where I was prior to my posts and try to catch up with the rest of you...wish I had been here from the start.

Thanks again!
  • #3,268
  • Jun 5, 2008 5:12am Jun 5, 2008 5:12am
3rd Basket Trade Summary:
3-1 ) Sell NzdUsd @ 0.7684 closed 0.7675--- +9 pips
3-2 ) Sell AudUsd @ 0.9565 closed 0.9565--- +0
3-3 ) Sell GbpUsd @ 1.9832 closed 1.9504--- +28
3-4 ) Sell EurUsd @ 1.5429 closed 1.5446-- -17
3-5 ) Buy GbpJpy @ 205.90 closed 206.61-- +71
3-6 ) Buy UsdJpy @ 105.41 closed 105.97-- +56
3-7 ) Buy EurJpy @ 162.61 closed 163.47-- +86
3-8 ) Buy UsdChf @ 1.0430 closed 1.0464-- +34
3-9 ) Buy UsdCad @ 1.0160 closed 1.0153--- -7
3-10) Sell EurGbp @ 0.7887 closed 0.7913 -- -26
3-11) Buy GbpChf @ 2.0400 closed 2.0406-- +6
3-12) Sell UsdCad @ 1.0156 closed 1.0183-- -27
3-13) Buy EurUsd @ 1.5445 closed 1.5428-- -17
-------------------------------------------------------
Net Profit ===================+ 196 pips
-------------------------------------------------------
Total for the Week ============ + 1,000 pips
-------------------------------------------------------
See attached screenshots for trade details:
Attached Image (click to enlarge)
Click to Enlarge Name: g62.GIF Size: 37 KB
  • #3,269
  • Jun 7, 2008 1:53pm Jun 7, 2008 1:53pm
Hi trader101,
Congratulation for the very impressiv week. Wish that every week would be like this.

I tried to follow all the trades but missed some because of the entry time (for me it is in the middle of the night ).

Because I hate to get up too early I thought I have to check whether your entry timing is very critical. If not I could open the trades at a more convenient time .

Thats how the attached Analysis was done, with good news for all traders in the European time zone.

To all a great weekend!

Antomi
Attached File(s)
File Type: pdf Best entry-times for trader101 trading calls.pdf   129 KB | 1,408 downloads
  • #3,270
  • Jun 7, 2008 3:42pm Jun 7, 2008 3:42pm
very nice work antomi. I am a fan.


Quoting antomi
Hi trader101,
Congratulation for the very impressiv week. Wish that every week would be like this.

I tried to follow all the trades but missed some because of the entry time (for me it is in the middle of the night ).

Because I hate to get up too early I thought I have to check whether your entry timing is very critical. If not I could open the trades at a more convenient time .

Thats how the attached Analysis was done, with good news for all traders in the European time zone.

To all a great weekend!

Antomi
Inflation in things we need, Deflation in things we want.
  • #3,271
  • Jun 7, 2008 5:35pm Jun 7, 2008 5:35pm
Quoting antomi
Hi trader101,
Congratulation for the very impressiv week. Wish that every week would be like this.

I tried to follow all the trades but missed some because of the entry time (for me it is in the middle of the night ).

Because I hate to get up too early I thought I have to check whether your entry timing is very critical. If not I could open the trades at a more convenient time .

Thats how the attached Analysis was done, with good news for all traders in the European time zone.

To all a great weekend!

Antomi
Thank you Antomi.

That was very helpful. I have just the opposite problem. I'm often asleep when Trader101 closes trades, usually sometime during the London trading session. If trades go majorly against me, by the time I get up in the morning, all my gains could be wiped out, or even worse, my account could be 100's of pips in the red. This usually doesn't happen, but it is possible.
  • #3,272
  • Jun 8, 2008 4:04pm Jun 8, 2008 4:04pm
Hello folks,
This week again we will be trading manual and my goal for the week of June 8-13 will be 1,100 pips. That is a 100 pips higher than last week. Heads up everyone, i know that some are already in bed like our friends in the European side. However as i have mentioned market signals are not of my own making, its the market folks. Antomi --you never ceased to amazed me. With such analysis that is presented in a very scholarly manner. I could have given you an A+ have i been your professor. Such a report should be appreaciated especially for those trying to succeed in this game. Again, my apologies for being rude and calling the trades while most of you guys, are sleeping. I have made an EA that will record all the trades we do tick by tick, in this manner we can determine the optimum entry and exit if its trade that we do and further analyze it if we could defer the trade entry into our convenience. I will made this record available especially to Antomi for his anlysis. Thanks
T101
  • #3,273
  • Jun 8, 2008 5:02pm Jun 8, 2008 5:02pm
Hello trader101 and all, I will be coming along this week and hopefully I will be able to contribute in a small way.I really appreciate the constructive attitude present here on this thread , and the best to everyone as we trade together.

banks77
  • #3,274
  • Jun 9, 2008 12:26am Jun 9, 2008 12:26am
Hi trader 101
(and Zeejay, imbiber and other pro basket traders)

I have put together my first basket according to what I saw on each individual currency chart.

can you comment on it ?
Attached Image (click to enlarge)
Click to Enlarge Name: 1st basket.GIF Size: 74 KB
Inflation in things we need, Deflation in things we want.
  • #3,275
  • Jun 9, 2008 8:09am Jun 9, 2008 8:09am
My basket is closed with 50 pips profit.
it reached a high of +250 pips and a low of -130 pips.



Quoting Thijs
Hi trader 101
(and Zeejay, imbiber and other pro basket traders)

I have put together my first basket according to what I saw on each individual currency chart.

can you comment on it ?
Inflation in things we need, Deflation in things we want.
  • #3,276
  • Jun 9, 2008 3:12pm Jun 9, 2008 3:12pm
hi to all ,
does MR trader101 online?
  • #3,277
  • Jun 9, 2008 3:24pm Jun 9, 2008 3:24pm
One question,
may kindly any discription for this qustion please,
what is the origin of difference: EURUSD=1.5643 , USDCHF=1.0271 ,
if EURCHF = EURUSD * USDCHF = 1.6067 , But the real value of EURCHF is 1.6071
diff = 4 PIP , all prices are BID , broker is MIG

in other Cpairs the same differences is viewed
  • #3,278
  • Jun 9, 2008 3:30pm Jun 9, 2008 3:30pm
another question,

haw can I attach a file for this thread?
  • #3,279
  • Jun 9, 2008 3:34pm Jun 9, 2008 3:34pm
Quoting OnTheRoad
One question,
may kindly any discription for this qustion please,
what is the origin of difference: EURUSD=1.5643 , USDCHF=1.0271 ,
if EURCHF = EURUSD * USDCHF = 1.6067 , But the real value of EURCHF is 1.6071
diff = 4 PIP , all prices are BID , broker is MIG

in other Cpairs the same differences is viewed
It is called the FPI (Fractional Product Inefficiency) this discreapancy is being taken advantage by some trader who are very very familiar with this. If you notice such discreapancy however temporary, you know that the price will eventually level out so they they take a position such that they take the 4 pips.
  • #3,280
  • Jun 9, 2008 3:40pm Jun 9, 2008 3:40pm
Quoting OnTheRoad
another question,

haw can I attach a file for this thread?
If you post a reply at the bottom there is this window which says manage attachement.. That one clik that and then look for your file to attached. Check the file to attached if it is allowed. Also i dont know if you are already allowed to attached.. is there a specified no. of postings before you can attached??? Somebody please help this dude..Thanks
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