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Simple Trading Method with trader101

  • #501
  • Edited 5:31am Sep 26, 2008 2:08am | Edited 5:31am
Hey!

I just discovered this thread a few days ago, and I'm through to page 15 (I'd be further, but I had to read those pages over and over to fully grasp what was going on).

Anyway, looks awesome and it's giving me hope for FX again!


edit:
Fixed, I am dumb.
Do you think the karate kid knows kung-fu?
  • #502
  • Edited 2:44am Sep 26, 2008 2:20am | Edited 2:44am
Ok....
After reading this thread for a few days, over and over trying to grasp whats going on, I finally broke down tonight and setup the demos.
I don't completely understand quite yet what dictates entering a position exactly, but I will get it soon I hope.
Also couldn't figure out how to get the excel file to work, so not using that.

Anyhow, since it is demo, and I am not positive on the trend indication yet, I followed the videos and it's all up and running.

The profitcalc told me trend was short, and i noticed eurusd on top of my profit list right off the bat, so said what the hell, and did the short hedge entry on all 14 pairs.

OMG! within 5 minutes I am at $250 and climbing. This is ridiculous!!

All I have to say is wow, and I will continue to study this thread until my eyes bleed to make sure I have total grasp of it.

Unbelievable!

Heartfelt thanks to Trader101 for starting this thread and sharing his knowledge, and to everyone else developing scripts and ea's etc.


Edit: this just made $497 in 28 minutes, someone pinch me?
  • #503
  • Sep 26, 2008 2:27am Sep 26, 2008 2:27am
Quoting FOURX
No luck, when i try to drop it into the script folder it just beeps?
Try dropping it into the scripts folder through "explore"

Right click on start>click "explore">click on "program files">Then your Mt4 folder>double click on Experts>double click on scripts and drop the file into there.
Now restart Mt4, Hopefully it will show up.....

Cheers.
Our IMAGINATION is the true holy grail!
  • #504
  • Sep 26, 2008 2:49am Sep 26, 2008 2:49am
Quoting madscalp
Hi stanru
This method sounds fine but I'm confused to understand perfectly.
Could you post every day your graph , why and how you operate ?
I understood the first part of the method but no the following step ie why and how you take long or short on the 14 pairs.
If everobody could make that, it would be perfect for the understanding.
Thanks a lot.
Hi madscalp
I’m base my entry on my 14pair_map. Blue line show the entry, and you can see 12 pairs (RED bars) are short. Short after opening I close only 1 pair EURGBP showing Long (Green bar).
thanks to Trader101
Attached Image (click to enlarge)
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  • #505
  • Sep 26, 2008 2:52am Sep 26, 2008 2:52am
Quoting tradersyoung
(Actually – One EA could theoretically plot and trade ALL 14 currency pairs – although Meta Trader has a limitation that any EA attached to a chart is only activated when there is a price tick – so you might want this to attach only to a very active pair - and would not be the ideal back-test process.)

Steven R. Young

TraderSYoung
TraderSYoung,

Very nice presentation. Thanks for taking the time to lay it out so clearly.

Could you PM me, I have a mq4 file that you might be able to adapt for this?

Bruce
  • #506
  • Sep 26, 2008 2:57am Sep 26, 2008 2:57am
Quoting stanru
Hi madscalp
I’m base my entry on my 14pair_map. Blue line show the entry, and you can see 12 pairs (RED bars) are short. Short after opening I close only 1 pair EURGBP showing Long (Green bar).
thanks to Trader101
Thanks.
Did you close EURGBP with profit ?
Could you post regularly to continue the explanation ?
  • #507
  • Sep 26, 2008 2:59am Sep 26, 2008 2:59am
Quoting brucech
TraderSYoung,

Very nice presentation. Thanks for taking the time to lay it out so clearly.

Could you PM me, I have a mq4 file that you might be able to adapt for this?

Bruce
Good job, TraderSYoung.
  • #508
  • Sep 26, 2008 3:06am Sep 26, 2008 3:06am
Quoting tazmaan
Ok....
After reading this thread for a few days, over and over trying to grasp whats going on, I finally broke down tonight and setup the demos.
I don't completely understand quite yet what dictates entering a position exactly, but I will get it soon I hope.
Also couldn't figure out how to get the excel file to work, so not using that.

Anyhow, since it is demo, and I am not positive on the trend indication yet, I followed the videos and it's all up and running.

The profitcalc told me trend was short, and i noticed eurusd on top of my profit list right off the bat, so said what the hell, and did the short hedge entry on all 14 pairs.

OMG! within 5 minutes I am at $250 and climbing. This is ridiculous!!

All I have to say is wow, and I will continue to study this thread until my eyes bleed to make sure I have total grasp of it.

Unbelievable!

Heartfelt thanks to Trader101 for starting this thread and sharing his knowledge, and to everyone else developing scripts and ea's etc.


Edit: this just made $497 in 28 minutes, someone pinch me?
Tazmaan,
Once again we feel like that trading is easy...huh... if you dont complicate matter. You will be making more once you fully understand the concept. You will be able to avoid bad trades. Im just a little worried that this thread will move in a different direction. Because of enthusiasm and the desire to share of all, a lot has been offered. My only request to all, PLEASE DO NOT COMPLICATE AND KEEP IT SIMPLE. I appreciate all the sharing but dont pull the thread too much that it might lose it original perspective.
Taz- Just wake up for London open and just made 428 pips on 2 short sets or about $428 in less than i think 28 minutes, I could have let it run some more I forget I Have the ProtectProfit EA on. So it closes when it retrace and it happend 2 times. What else to complain. I can go back to sleep well now. I will respond to the posting tommorrow.
101
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  • #509
  • Edited 3:47am Sep 26, 2008 3:27am | Edited 3:47am
Quoting trader101
Tazmaan,
Once again we feel like that trading is easy...huh... if you dont complicate matter. You will be making more once you fully understand the concept. You will be able to avoid bad trades. Im just a little worried that this thread will move in a different direction. Because of enthusiasm and the desire to share of all, a lot has been offered. My only request to all, PLEASE DO NOT COMPLICATE AND KEEP IT SIMPLE. I appreciate all the sharing but dont pull the thread too much that it might lose it original perspective.
Taz- Just wake up for London open and just made 428 pips on 2 short sets or about $428 in less than i think 28 minutes, I could have let it run some more I forget I Have the ProtectProfit EA on. So it closes when it retrace and it happend 2 times. What else to complain. I can go back to sleep well now. I will respond to the posting tommorrow.
101
What is your critical to choose which set to trade if all currency isnt in line with the perfect set up ? In the case where the profit cal says short but they are not arrange top 7 btm 7, maybe top 6 btm 8, how do we know which set to short ? Since I can't trade all, it's better that I could learn to pick the correct set to short. I think your number of currency in 1 set is 14, anyway I hope you understand what I am trying to ask

It would benefit everyone if you could spent sometime explain why you took the trade and the snap short of your indicator around the time you took the trade. With some recent example from you will surely help everyone reading understand the system better.

Thnx
  • #510
  • Sep 26, 2008 3:59am Sep 26, 2008 3:59am
Hi,

Hope I don't get flamed as this is my first post. I've been following the system since the start and understand (in a way ) how it works. I'm just after a Script to close all all orders.

I have had a good luck on the forum and installed the scripts below

http://www.forexfactory.com/showthread.php?t=9502

However each time I use the scripts (metatrader4) i get the following error

Order failed to closed Error :4109

Sorry for the question as im sure this is an easy one, bur after 2 days i'm unable to get it working

Thanks for Help & I love this thread
  • #511
  • Sep 26, 2008 4:01am Sep 26, 2008 4:01am
Quoting Leigh
Try dropping it into the scripts folder through "explore"

Right click on start>click "explore">click on "program files">Then your Mt4 folder>double click on Experts>double click on scripts and drop the file into there.
Now restart Mt4, Hopefully it will show up.....

Cheers.
Thanks leigh, i just tried that route,but still the same beep . (it is copy then paste when i get to the folder?)
  • #512
  • Edited 5:39am Sep 26, 2008 4:50am | Edited 5:39am
2protectaccount closed my trades from yesterday at about 453pips..making the last 3 days average about 350pips per day...i just woke up but if anyone else was short from yesterday prolly made some money...

current IA
Attached Image (click to enlarge)
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  • #513
  • Sep 26, 2008 4:58am Sep 26, 2008 4:58am
Hi Julius,

Thanks for this forum. I finally understood after several days of reading and reviewing.

PRICE ACTION. The market price is always spot on; we just need to understand and follow it. In my early forex days, I wrote several handouts: one on price action movement, support and resistance. The most profitable trades are to buy in oversold territory price valley, and sell back in overbought area--and to sell in overbought extreme price peak, and buy back in oversold extreme. BUY LOW, SELL HIGH!

Each tick (market transaction) on a currency chart carries a 'weight' or power. The entire timeframe chart is like a precise section of a currency 'river' composed of single water drops (ticks). Those collective ticks make up the individual candlesticks of each time period--from 1minute to 1month. The minute current is weaker than the month; the bigger waves and trends move the smaller waves and trends.

The more ticks in a price movement time interval, the greater the power of the current price movement ('market momentum'). The closer to present time of a fractal or local price high or low, the more relative power it carries. So we look for greater tick volume (bigger candlesticks) in more recent times to rate all currency pairs price action and profit potential. Buy on an uptick, sell on a downtick.

A currency heatmap is a rank of relative current power; the pair with the greatest momentum shows the most buy profit until now (top anchor position). If the 7 sells are on top, the top anchor pair is oversold--hence due for bulls to buy, reversing to an uptrend. With the buys on the bottom, the bottom anchor position currency pair is most overbought--and due for bears to sell, reversing to a downtrend. Unless there's a (less likely) breakout.

This trading system simply accumulates past relative price action movements over a given timeframe in the demo platform account history profit or loss. Certain high volatility pairs like the EU or GJ tend to have greater profit or loss within a given timeframe. How much the price moved can be ranked in a heatmap array table such as Stanru has posted.

Trader101's genius was to notice which pairs tend to move in same or opposite directions, and log past relative profit and loss for all 14 pairs, right up to the present moment. We want the 'best liquidity and lowest spread' for maximum account net profits. SIMPLE! *LOL*

I'm currently involved in creating an EA robot that uses these principles.

Best regards,

George
  • #514
  • Sep 26, 2008 5:26am Sep 26, 2008 5:26am
Quoting Jimbop
Ok as I decided before I punted and started from scratch with FXDD

Luke you are a Saint!!! nice job on the instructions so easy an I could do it (just kidding I'm actually an IT consultant) but the break down was definately good enough for anyone to get it right.

I followed your instructions to the letter even pausing the video at each step to stay pace with you....

My one issue is on both the IA and the demo...It is opening these 11 pairs
GBP/JPY
USD?Cad
Aud/Usd
EUR/JPY
Gbp/USD
EUR/GBP
GBP/CHF
US/CHF
USD/JPY
EU/USD
EUR/CHF

These are in no particular order I just scribled them down and verified they were the same on both accounts....101 is it possible to eliminate one of these pairs so I could be balanced, I could edit the file myself if I knew which pair to eliminate.....

Yes I have read the entire thread and I know there was alot of discussion about IBFX having issues and making the adjustments but if I recall that was 12 pairs... Any advice always appreciated....

Thank you all again for your Talent and Hard Work!

PS 101 where are you in NY I'm in Albany....


Hello guys

Even though it only set up with 11 pairs I ran a SELL Last night before I went to sleep....+200 are you friggin kidding me? LOL

Any help out there for my 11 pairs issue?

Thanks again!
  • #515
  • Sep 26, 2008 5:35am Sep 26, 2008 5:35am
Just started another sell as we appear to still be insell momentum...after 90 seconds my spread is half covered.....incredible!!! Please any comments on 11 pairs open with FXDD?
  • #516
  • Sep 26, 2008 6:09am Sep 26, 2008 6:09am
Quoting Jimbop
Ok as I decided before I punted and started from scratch with FXDD

Luke you are a Saint!!! nice job on the instructions so easy an I could do it (just kidding I'm actually an IT consultant) but the break down was definately good enough for anyone to get it right.

I followed your instructions to the letter even pausing the video at each step to stay pace with you....

My one issue is on both the IA and the demo...It is opening these 11 pairs
GBP/JPY
USD?Cad
Aud/Usd
EUR/JPY
Gbp/USD
EUR/GBP
GBP/CHF
US/CHF
USD/JPY
EU/USD
EUR/CHF

These are in no particular order I just scribled them down and verified they were the same on both accounts....101 is it possible to eliminate one of these pairs so I could be balanced, I could edit the file myself if I knew which pair to eliminate.....

Yes I have read the entire thread and I know there was alot of discussion about IBFX having issues and making the adjustments but if I recall that was 12 pairs... Any advice always appreciated....

Thank you all again for your Talent and Hard Work!

PS 101 where are you in NY I'm in Albany....
Hello, Jim
I am from NYC.
If you are with FXDD you should have no problem with the original 14 pairs mentioned as they readily available in their platform.
However the 11 pairs that you traded is not a problem. What we are concern is the creation of the IA, that is the critical part of this system. It is this IA that will give you the bias or market pull. Then the trading is up to you whether to trade all the 14 or the 10 or even 2 or 4. But again you have to remember that inspite we may be right in choosing the bias but not all the 14 pairs will be prrofittable. Some (minority) will be unprofittable. That is the danger of not trading them all. But if it realy unavoidable due to your account balance then remember the Anchor pair is the most logical choice of you are for highest probability to reverse or the top of the bottom pairs that jump and its partner to be the most probable to continue the move. Below I outline the pairs if you just want to trade 1o pairs:

Set 1
GBPUSD
EURGBP
GBPCHF
AUDJPY
EURJPY

Set 2
EURCHF
GBPJPY
AUDUSD
USDJPY
EURUSD

Cheers
T101
  • #517
  • Sep 26, 2008 6:14am Sep 26, 2008 6:14am
hi T101, what's the max draw down you had seen before with this system ? How do you deal with them ?
  • #518
  • Sep 26, 2008 6:22am Sep 26, 2008 6:22am
Quoting j84
hi T101, what's the max draw down you had seen before with this system ? How do you deal with them ?
It is depended on the profit SL which is roughly 40 pips x 14 pairs x $1 or about $560 for 0.1 lot trading. I think it is incorporated in the latest ProfitProtect EA that you guys have already. I never let my trade go over my SL, not a guideline , its just me.
t101
  • #519
  • Sep 26, 2008 6:25am Sep 26, 2008 6:25am
Quoting FOURX
No luck, when i try to drop it into the script folder it just beeps?
I cant really help you much on this probe 4X...
Perhaps some of those guys really familiar the platform can help you.
  • #520
  • Edited 6:41am Sep 26, 2008 6:29am | Edited 6:41am
Quoting trader101
It is depended on the profit SL which is roughly 40 pips x 14 pairs x $1 or about $560 for 0.1 lot trading. I think it is incorporated in the latest ProfitProtect EA that you guys have already. I never let my trade go over my SL, not a guideline , its just me.
t101
My broker can't use EA, i guess just have to do mental SL. I hope you can provide use some snap shot of your IA for some possible trades you going to take with some explanation so that we can learn.
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