Simple Trading Method with trader101 | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

trader101 method based trades 12 replies

Trader101 Method Back Testing Tool Q+A 16 replies

Setting up the Basics for Trader101 style trading. 28 replies

Attachments: Simple Trading Method with trader101
Exit Attachments

Simple Trading Method with trader101

  • #41
  • Sep 20, 2008 9:57pm Sep 20, 2008 9:57pm
Quoting smjones
Did you mean C/J? Could it not be synthsized with a half order of usdjpy and and half order of Usdcad?
I'm refering to the trade pairs that T101 posted for the 12 group for IBFx. I don't know smj I'm not that experienced in that regards.
  • #42
  • Sep 20, 2008 9:59pm Sep 20, 2008 9:59pm
Quoting Verto
I'm refering to the trade pairs that T101 posted for the 12 groups for IBFx. I don't know smj I'm not that experienced in that regards.
Yeah I figured that out. sorry about that. I withdrew my post it would have been confusing.
  • #43
  • Sep 20, 2008 10:14pm Sep 20, 2008 10:14pm
Quoting Verto
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.
I got your point.. I still have Sunday to figure out how to insert the GJ, i know you like to have the GJ in there. I just want to let you know that normally it will be cancelled out by other currencies because of the hedging properties of the basket trade.
T101
  • #44
  • Sep 20, 2008 10:17pm Sep 20, 2008 10:17pm
Quoting trader101
I got your point.. I still have Sunday to figure out how to insert the GJ, i know you like to have the GJ in there. I just want to let you know that normally it will be cancelled out by other currencies because of the hedging properties of the basket trade.
T101
What did you think about smjones mention of "[...] Could it [cad/jpy] not be synthsized with a half order of usdjpy and and half order of Usdcad?"
  • #45
  • Sep 20, 2008 10:31pm Sep 20, 2008 10:31pm
Quoting Verto
What did you think about smjones mention of "[...] Could it [cad/jpy] not be synthsized with a half order of usdjpy and and half order of Usdcad?"
Yes it can be done.

1/cad/usd X usd/jpy = cad/jpy


however we will double the usdcad one is a sell and one is a buy.
Also it will double the usdjpy. both are buys. This contradict our criteria of only to use a pair once.
T101
  • #46
  • Sep 20, 2008 10:34pm Sep 20, 2008 10:34pm
Quoting trader101
Yes it can be done.

cad/usd X usd/jpy = cad/jpy


however we will double the usdcad one is a sell and one is a buy.
Also it will double the usdjpy. both are buys. This contradict out criteria of only to use a pair once.
T101
I guess I will just keep spamming IBFX telling them to add cad/jpy.
  • #47
  • Sep 20, 2008 11:38pm Sep 20, 2008 11:38pm
Hi Trader 101,
Thanks for sharing this system, however i need more explanation on how to determine to Long or Short.
The first time (start of the week), we have 7 buy and 7 sell, when the buy jump up over the boundaries, it must be another pair that jump down to the minus area), when it happen we will trade those two pairs, but how to decide whether LOng or Short those two pairs?

Thanks for your kindness.

Phoenix
  • #48
  • Sep 21, 2008 12:07am Sep 21, 2008 12:07am
Trader101,
Thanks for posting this system. The first read through definitely got me thinking. Thinking and understanding aren't always synonymous in my case. I'm looking forward to watching your trades this coming week.
  • #49
  • Sep 21, 2008 1:48am Sep 21, 2008 1:48am
Quoting phoenixfx
Hi Trader 101,
Thanks for sharing this system, however i need more explanation on how to determine to Long or Short.
The first time (start of the week), we have 7 buy and 7 sell, when the buy jump up over the boundaries, it must be another pair that jump down to the minus area), when it happen we will trade those two pairs, but how to decide whether LOng or Short those two pairs?

Thanks for your kindness.

Phoenix
The way i see it is that the pair which jumps from the bottom half to the top half was an initial sell then you sell the two pairs and when it was a buy then you buy the two pairs. Trader101 please correct me if i am wrong.
Never Ever Give Up!
  • #50
  • Sep 21, 2008 3:39am Sep 21, 2008 3:39am
Please correct me if im wrong, im still trying to figure out everything as well.

Ok to place long and short.

So we start the week with 7 buy and 7 sell. We let everything settle for a day or two (according to trader101: ideal conditions being all buys at the top 7 positions and all the sells at the bottom position OR all the sells at the top and the buys at the bottom.)

So when we have a jump if its a Buy jumping from a lower position to the 7th slot or higher then GO LONG.

We would also have a Sell going in the opposite direction at the same time. ie a Sell from a higher position going to the 8th slot or lower. This trade is also LONG.

so from my understanding this is also true:

So when we have a jump if its a Buy jumping from a higher position to the 8th slot or lower then GO SHORT.

We would also have a Sell going in the opposite direction at the same time. ie a Sell from a lower position going to the 7th slot or higher. This trade is also Short.


to sum up

If the Buy is moving upwards Long, Buy moving downwards Short

If Sell is going up Short, Sell going down Long

Reminder: Must be arranged from ascending profit.
  • #51
  • Sep 21, 2008 6:31am Sep 21, 2008 6:31am
I work this out since i woke up and here it is:
Set 1(The Buys)
1) GBPUSD
2) EURGBP
3) GBPJPY
4) USDCHF
5) NZDUSD
6) AUDJPY
7) EURJPY
Set 2 (The Sells)
8) EURUSD
9) USDJPY
10) AUDUSD
11) NZDJPY
12) GBPCHF
13) CHFJPY
14) EURCHF
Total spread for Buys = 37
Total spread for Sells = 40
Looks good almost the same spread. You can easily make your own script on this one.
T101
  • #52
  • Sep 21, 2008 6:38am Sep 21, 2008 6:38am
Im sorry for the confusion that was created by an unclear guidelines. Anyways here is the rule:
Your profit will be arange in a descending order (Positive above, negative below)

1) BUYS that jumps up === BUY
2) SELLS that jumps down=== BUY
3) BUYS that jumps down === SELL
4) SELLS that jumps up === SELL

Use the profitCalc EA it will give the trading direction. I used that to trade 14 pairs in one direction. I hope this clarifies.
T101
  • #53
  • Sep 21, 2008 8:07am Sep 21, 2008 8:07am
Hi T101, so there are two methods here, correct?
Either I trade 4 pairs and set two Shorts and two Longs OR trade 14 pairs all sane direction?
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #54
  • Sep 21, 2008 10:03am Sep 21, 2008 10:03am
Thanks to Cobra & ShadowPrince for your explanation. I got it now.
I will try tomorrow morning.

Phoenix
  • #55
  • Sep 21, 2008 10:25am Sep 21, 2008 10:25am
Pardon if i'm wrong, I think T101 doesnt hard fix 1 or 2 method, but rather trade according to 'overall movement' thus gain average positive pips. To either trade 1 or 2 or all pairs are judgement based on how the 14-pair indicator is performing. If only certain pair shows promising signal, only trade that pair, if almost all shows signal - trade all, as on average the wins will be more than loses.

T101, just wonder if there's any negative performance for past few mths that you've traded? Or any situation that should be avoided?

Great work, keep it up and Thanks.
  • #56
  • Sep 21, 2008 10:41am Sep 21, 2008 10:41am
Quoting trader101
So i traded like this: And quickly i made a good profit. Give it a try.
Youll like it.
Cheers
T101
hello


I install script ....then what? I click on market watch where are pairs but nothing happened...Where is profit column? Should I trade already all those pairs before I apply script? can you expalin how to install it in more details or screen shots please....? I would like to try it but...

thank you
The Market pays you to be disciplined
  • #57
  • Sep 21, 2008 10:45am Sep 21, 2008 10:45am
Hi

Anyone here willing to make the script for IBFX's 14 pairs?

Thx in advance.
Cobra
Never Ever Give Up!
  • #58
  • Edited 10:50pm Sep 21, 2008 11:06am | Edited 10:50pm
Cobra, here you go. You'll need to edit them by adding 'm' if you're using mini lot. E.g. 'EURUSDm'

Mima, to use the script file, place the file into your MT4 folder\Experts\Scripts, then restart MT4. The new script file should appear under scripts in the Navigator window. Double click to execute it.

Credits to T101.

*Updated script. It doesnt matter to buy or sell the sets as long they're opposite. Updated anyway to unify things. Cheers.
*Script removed as requested.
  • #59
  • Edited 9:23pm Sep 21, 2008 11:18am | Edited 9:23pm
Quoting fluke
Cobra, here you go. You'll need to edit them by adding 'm' if you're using mini lot. E.g. 'EURUSDm'

Mima, to use the script file, place the file into your MT4 folder\Experts\Scripts, then restart MT4. The new script file should appear under scripts in the Navigator window. Double click to execute it.

Credits to T101.
You've got the Buy and Sell in the wrong currencies
Here is a IBFX mini script
I can make it an EA if you let me know what time GMT is best to open the trades?

EDIT - Yes, fluke your right, I re-read the thread, as long as 7 buy and the other 7 sell
EDIT - Removed mq4 as per TC101 requested, files further ahead
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #60
  • Sep 21, 2008 11:31am Sep 21, 2008 11:31am
Thx. much appreciated!
Never Ever Give Up!
4 traders viewing now