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Simple Trading Method with trader101

  • #21
  • Sep 19, 2008 6:16am Sep 19, 2008 6:16am
Quoting trader101
If you are using the "mini" of IBFX, you have to add the m at every Symbol in that code like......"USDCHF" must be "USDCHFm" , then it will work.

Malaysia Boleh
Well, thanks trader101... seems you've learn about our motto .
Let me check the Symbol and see. Any queries, I would post here.

Thanks again.
Banker please return my pipins.
  • #22
  • Sep 19, 2008 7:07am Sep 19, 2008 7:07am
Quoting trader1234
Just have a question for you. Are there specific times during the day that you check or monitor when the pairs will switch slots?

And when do you usually take your trades? (EST time)

Thanks Again
Hello trader (like mine only different number)
I normally check at the begining of every sessions(Asian, UK and US) however there are times that closely monitor it during the NY times when there are a lot of fundamentals being released. Those are the times when switching happend most of the time. Like yesterday, the switching started right before the Asian Times, thats the previous chart i had posted, I was stopped out at $410 profit while i was sleeping. Then it reentered again after one hour and that is the trade I have right now annd this will continue until before the close of this week. Right now it is struggling but positive also there now 5 jumpers and is dominated by the Long trades. I am hoping that it will reached the ideal position of 7 buys at the top and 7 sells at the bottom, when that happend then we shift our trade to all sells because that is the signal that it has reached the apex. Also the Total profit tells you a lot. It indicates the change in trend. Right now it is struggling to move to the positive profit after battling the negative spread, you could say it is now crossing the line and trying to move to the other side.
Thanks
T101
  • #23
  • Sep 19, 2008 7:09am Sep 19, 2008 7:09am
Quoting Babyboy
Well, thanks trader101... seems you've learn about our motto .
Let me check the Symbol and see. Any queries, I would post here.

Thanks again.
I used to work for a long time in your oil offshore platform when i was with Petronas Carigali. Be my guest.
T101
  • #24
  • Sep 19, 2008 7:30am Sep 19, 2008 7:30am
My Oanda demo trades. I try to used my own judgement and trade 3 pairs shorts the rest are Longs. It should be all Longs but behind my mind it says it wont happend but see what happends.
Attached Image (click to enlarge)
Click to Enlarge Name: 5trade.GIF Size: 144 KB
  • #25
  • Sep 19, 2008 9:45am Sep 19, 2008 9:45am
Quoting trader101
Tonight my indicator account look like this:
Notice that the 4 buys are taking over the top position from the sells, consequently the sells are taking over the bottom postition it started at about in the afternoon. This is a signal that the buys will rules perhaps until tonight.
HELLO TRADER 101. THANKS FOR YOUR POST. PLS I HAVE A FEW QUESTIONS FOR YOU. 1. YOU SAID WHEN THEY SWITCH SLOT, YOU GO X DIRECTION. PLS CAN YOU KINDLY SHED MORE LIGHT ON THIS? I WILL LIKE TO UNDERSTAND WHY YOU WENT LONG ON BOTH CURRENCIES (GU AND UC) 2. HOW DO YOU DETERMINE THE CURRENT TREND SINCE IF ONE CCY JUMPS ANOTHER CCY WILL FOLLOW SUITE?
  • #26
  • Edited 12:23pm Sep 19, 2008 10:50am | Edited 12:23pm
Quoting hefhem911
HELLO TRADER 101. THANKS FOR YOUR POST. PLS I HAVE A FEW QUESTIONS FOR YOU. 1. YOU SAID WHEN THEY SWITCH SLOT, YOU GO X DIRECTION. PLS CAN YOU KINDLY SHED MORE LIGHT ON THIS? I WILL LIKE TO UNDERSTAND WHY YOU WENT LONG ON BOTH CURRENCIES (GU AND UC) 2. HOW DO YOU DETERMINE THE CURRENT TREND SINCE IF ONE CCY JUMPS ANOTHER CCY WILL FOLLOW SUITE?
Thanks for your interest in this method..
Actually this method is very simple. I have attached again my Indicator (demo account) from FXpro and this trade was entered since the start of trading this week. Initially all the SELLS occupies the top 7 positions when we started. The bottom 7 is of course by the BUYS. As trading goes on, the SELLS and BUYS start switching places. I choose the GU and UC since both of them jumps out of their boundaries and they appear to be making a strong trend as confirm by my other indicators. You will be accustom to this after observing this pairs for a long period of time. If you look again the attached chart, the SELLS now occupying the bottom slots and the BUYs are struggling to position themselves at the top which is completely the opposite of last mondays positioning. Also I am attaching here an EA that will recommend a trade direction, you can attached this even in one chart,say use the EU or the UJ since they are the most volatile of the pairs. When the EA sau trade LONG that means trade all the 14 pairs LONG or vice versa.
Feel free to ask if you have more questions.
T101
Attached Image (click to enlarge)
Click to Enlarge Name: 5indi.GIF Size: 128 KB
Attached File(s)
File Type: mq4 ProfitCalc.mq4   2 KB | 5,997 downloads
  • #27
  • Sep 19, 2008 11:28am Sep 19, 2008 11:28am
Just to give you an idea how this simple yet powerful method can generate profit for you. I attached the statement for todays trading only (19 Sept)
Total Profit = 1228 pips
In Dollars = $1066.03.
If you were familiar of my trading journal (Simplicity is the Key), this is a part of the Basket Trading Theory that i was working on and a lot has been asking me this question what really is my system, well folks this is it. I hope that you learn from this and may this brings you profits as it did to me.
T101

Sorry there is a couple of entries omitted at the top of the statement. T101
Attached Image (click to enlarge)
Click to Enlarge Name: stment1.GIF Size: 69 KB
  • #28
  • Sep 19, 2008 2:14pm Sep 19, 2008 2:14pm
since u said that its good to start at the beginning of the week...i think ill have a go starting next week...i still dont completely understand the method yet though.....but thanks for sharing
  • #29
  • Edited Sep 20, 2008 4:35am Sep 19, 2008 3:36pm | Edited Sep 20, 2008 4:35am
This looks like a great and simple system.

I'm still learning trying to let my small mind grasp the system. I'm sure I will have some idea by sunday after I've read it 200 times!

Thanks trader!

Edit: I just thought up a question, trader, do we wait a day or two after opening up the trades for the week to allow a trend to establish? So that we probarly wouldn't trade sunday, monday for me on the west coast.
  • #30
  • Sep 20, 2008 11:38am Sep 20, 2008 11:38am
Simply Brilliant

Msia really boleh lol
  • #31
  • Sep 20, 2008 11:42am Sep 20, 2008 11:42am
Quoting trader101
Thanks for your interest in this method..
Actually this method is very simple. I have attached again my Indicator (demo account) from FXpro and this trade was entered since the start of trading this week. Initially all the SELLS occupies the top 7 positions when we started. The bottom 7 is of course by the BUYS. As trading goes on, the SELLS and BUYS start switching places. I choose the GU and UC since both of them jumps out of their boundaries and they appear to be making a strong trend as confirm by my other indicators. You will be accustom to this after observing this pairs for a long period of time. If you look again the attached chart, the SELLS now occupying the bottom slots and the BUYs are struggling to position themselves at the top which is completely the opposite of last mondays positioning. Also I am attaching here an EA that will recommend a trade direction, you can attached this even in one chart,say use the EU or the UJ since they are the most volatile of the pairs. When the EA sau trade LONG that means trade all the 14 pairs LONG or vice versa.
Feel free to ask if you have more questions.
T101
Trader101,

We appreicate what you have shared so far.
There are serveral questions that I have.

It seems now with this last posting that you have two versions.
One version where you only trade up to four pairs
and this second one which you trade all 14 pairs in the same direction.

You mentioned that you have been doing this with good results for 3 months.
Do you mean the first version or both versions?
How long have you been doing the second version?
Do you have set times of day that you check to see if you should enter or not? and if holding positions, if you should exit and reenter?

THe EA that you posted, is that attached to a chart in the Metatrader platform that acts as an indicator for you?

Friday's results were unbelievable... can results like this be expected often? everyday? Have you seen this over the past three months?

Thanks for the insight that you have provide.

Bruce

1. Do you have a set time you trade?
  • #32
  • Sep 20, 2008 1:17pm Sep 20, 2008 1:17pm
Thanks for showing interest this method.
Quoting brucech
Trader101,

We appreicate what you have shared so far.
There are serveral questions that I have.
Your most welcome.

It seems now with this last posting that you have two versions.
One version where you only trade up to four pairs
and this second one which you trade all 14 pairs in the same direction.
As i have mentioned, study this and innovate i have shown the minimum pairs to trade as well as the maximum pairs to trade, rest is up to you.

You mentioned that you have been doing this with good results for 3 months.
Do you mean the first version or both versions?
Both

How long have you been doing the second version?
The same time as the first one.

Do you have set times of day that you check to see if you should enter or not? and if holding positions, if you should exit and reenter?
I have no set time to check or trade. It is up to the trader when he wants to trade. If i have to give everything then that is handouts. Study, apply, develop and innovate. With this you can develop your own system.

THe EA that you posted, is that attached to a chart in the Metatrader platform that acts as an indicator for you?
Yes

Friday's results were unbelievable... can results like this be expected often? everyday? Have you seen this over the past three months?
Nothing is guaranteed in Forex. Nobody knows where the market is going. Friday result was presented as an example that there is postential in this method. Yes, lots of time.

Thanks for the insight that you have provide.
Your welcome

Bruce

1. Do you have a set time you trade?
Answered already
  • #33
  • Sep 20, 2008 1:30pm Sep 20, 2008 1:30pm
I would like to caution user of this method that the ccy pairs presented here are only applicable to the broker that have all 14 of them. If your broker does not have the complete 14 find another broker or wait for the future posting for possible pairs to trade accordingly. It is also wise to have your Demo(indicator account) and your Trading account with the same broker. As an example, IBFX do not have CADJPY, the method will not work with them unless we use the pairs available to them, The selection of pairs to trade have a certain hedge criteria. FXDD is ok. Those are the ones i have check so far. Please post the broker you are using that do not have the complete 14 pairs and i will study thier offered ccy pairs.
Thanks
T101
  • #34
  • Sep 20, 2008 3:21pm Sep 20, 2008 3:21pm
Quoting trader101
I would like to caution user of this method that the ccy pairs presented here are only applicable to the broker that have all 14 of them. If your broker does not have the complete 14 find another broker or wait for the future posting for possible pairs to trade accordingly. It is also wise to have your Demo(indicator account) and your Trading account with the same broker. As an example, IBFX do not have CADJPY, the method will not work with them unless we use the pairs available to them, The selection of pairs to trade have a certain hedge criteria. FXDD is ok. Those are the ones i have check so far. Please post the broker you are using that do not have the complete 14 pairs and i will study thier offered ccy pairs.
Thanks
T101
I am using IBFX.
  • #35
  • Sep 20, 2008 8:43pm Sep 20, 2008 8:43pm
Quoting Verto
I am using IBFX.
Hello Verto,
i will study the IBFx offered CCY Pairs. I know that they dont have CadJpy which unfortunately CadJpy happend to be the middle pair in our set and removing it will upset the balance of trades. I dont know if we can make do a 14 pairs in IBFx. The selection criteria for the pairs are:
a) The pairs selected should be hedging each other (forming a complete circle and no double entry.
b) the number of sells should be equal to the buys.
c) The spreads of buys should be ideally equal to the spread of the sells.
d) Use the maximum number of ccy pairs available in the platform, in order to use the value of all currencies involve.
thanks
T101
  • #36
  • Sep 20, 2008 8:53pm Sep 20, 2008 8:53pm
Quoting trader101
Hello Verto,
i will study the IBFx offered CCY Pairs. I know that they dont have CadJpy which unfortunately CadJpy happend to be the middle pair in our set and removing it will upset the balance of trades. I dont know if we can make do a 14 pairs in IBFx. The selection criteria for the pairs are:
a) The pairs selected should be hedging each other (forming a complete circle and no double entry.
b) the number of sells should be equal to the buys.
c) The spreads of buys should be ideally equal to the spread of the sells.
d) Use the maximum number of ccy pairs available in the platform, in order to use the value of all currencies involve.
thanks
T101
I'll start looking for other currencies to use then, if we had to even it out to be 12 pairs instead of 14 using IBFX then what would be the other pair to counteract CADJPY?
  • #37
  • Sep 20, 2008 9:04pm Sep 20, 2008 9:04pm
I can only make 12 pairs for those using the IBFX:
Set1
1) EURUSD
2) USDCHF
3) GBPUSD
4) AUDJPY
5) EURJPY
6) USDCAD
Set2
7) GBPCHF
8) AUDUSD
9) CHFJPY
10) EURCHF
11) USDJPY
12) EURCAD
1 set for buy and the other is sell or you can reverse it. For purpose of Uniformity let say Set 1 for BUYS and Set 2 for SELLS. If anybody can still insert more pairs please do so as per criteria that mentioned in the previous post.
T101
  • #38
  • Edited Sep 21, 2008 4:12pm Sep 20, 2008 9:21pm | Edited Sep 21, 2008 4:12pm
Quoting trader101
I can only make 12 pairs for those using the IBFX:
Set1
1) EURUSD
2) USDCHF
3) GBPUSD
4) AUDJPY
5) EURJPY
6) USDCAD
Set2
7) GBPCHF
8) AUDUSD
9) CHFJPY
10) EURCHF
11) USDJPY
12) EURCAD
1 set for buy and the other is sell or you can reverse it. For purpose of Uniformity let say Set 1 for BUYS and Set 2 for SELLS. If anybody can still insert more pairs please do so as per criteria that mentioned in the previous post.
T101
With these 12 pairs in place for IBFX mini users I have edited the code of the Tradehedge script to open the sells/longs for the week, it is attached.
  • #39
  • Sep 20, 2008 9:44pm Sep 20, 2008 9:44pm
Quoting Verto
With these 12 pairs in place for IBFX mini users I have edited the code of the Tradehedge script to open the sells/longs for the week, it is attached.
yes it is good. Rock and Roll. Start it this Sunday, Ill do the same for mine so we can make a join analysis as the trade go on. Good Luck
T101
  • #40
  • Sep 20, 2008 9:54pm Sep 20, 2008 9:54pm
Quoting trader101
yes it is good. Rock and Roll. Start it this Sunday, Ill do the same for mine so we can make a join analysis as the trade go on. Good Luck
T101
Yup, even though already now I can tell you that since the IBFX trade group doesn't have G/J there is the chance of a large amount of pips not getting caught. Hehe, it looks good though we will see how it goes. I'm running a IBFX version and a ODL one with the standard settings.
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