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Simple Trading Method with trader101

  • #561
  • Sep 26, 2008 9:54am Sep 26, 2008 9:54am
Quoting adesalambrar
Hello to all.
I want to thank T101 and all the guys that are making this a great thread, keep up the good work!!

I just finished reading the whole thread (no free lunches ).
Also, I want to start testing this method, should I open the basket now or should I wait for sunday open?

Also I want to suggest two links that might help someone.
The first is a table that shows you some data for the Currencys Correlations, from Oanda:
http://fxtradeinfocenter.oanda.com/c...elations.shtml

The second is the Market Hours (maybe will help some newbie like me )
http://www.forexmarkethours.com/

No more wasting your time, only thanking you for your great efforts, and all the people that is working so hard. Let me know if I can help in some way, I have no skills, but the gift of time



Agustin
The problem is how do you know the correct Market Hours since so many websites have different Open and Close time
World Financial Markets -- Current Open/Closed Status, Opening and Closing Times, and Holiday Schedule, Expressed in Terms of Your Local Time Zone
Forex Market Hours
Forex Market Hours - Forex Market Time Converter
Forex Market Hours | OANDA FXTrade InfoCenter
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #562
  • Sep 26, 2008 10:16am Sep 26, 2008 10:16am
thanks for the great idea! because my lame english, still need translator for reading & understand. have a nice weekend everyone.
  • #563
  • Edited 10:24am Sep 26, 2008 10:19am | Edited 10:24am
[quote=matrixebiz;2244473]The problem is how do you know the correct Market Hours since so many websites have different Open and Close time

I think as a general rule the markets are open from 8 am local time to 5 pm local time (with some exceptions).

This is relevant to the thread as I believe that is important to find out the better time to trade.

I've been looking to the charts a lot for the past few months, and I find that the most active hours are the ones that 2 markets overlap themselves (noooo kiding, are you shure? ), being London and London/USA the best time.
So I think one way of looking up for trades are if you have all in place, watch for action after market open, if the anchor pair starts to jump, that is your "Aggressive Signal". A more conservative approach might be waiting for more pairs to "agree" with the anchor....

Anyway just clarifying WHY the market hours where important to this method, in my humble opinion.

Sorry if that take too much space.
If you read this and got you confused, please ignore it all

Agustin
3rd World Trading
  • #564
  • Sep 26, 2008 10:24am Sep 26, 2008 10:24am
Quoting matrixebiz
Sorry if this was answered already, but what are the anchor pairs for IBFX that I watch for?
Hi there, I believe the concept of the anchor pairs could be best explained by Trader himself, please refer to post #289 on pg20 of this thread.
  • #565
  • Sep 26, 2008 10:33am Sep 26, 2008 10:33am
Quoting ES Trader
Woh! Up 230 Pips. Cant Be This Easy, Can It?
Kris
Thats Great News I went Long at about 0750 AM EST....Cant wait to get home from work and find out what happened!!!!


101 Light Beer is fine with me (I usually pound like 40 of em anyway LOL)
  • #566
  • Sep 26, 2008 10:50am Sep 26, 2008 10:50am
Quoting Jimbop
Thats Great News I went Long at about 0750 AM EST....Cant wait to get home from work and find out what happened!!!!


101 Light Beer is fine with me (I usually pound like 40 of em anyway LOL)
I went short about the same time. I might have messed up, a Buy was up in the Sell section and a Sell was down in the Buy section but ProfitCalc said go SHORT so I went SHORT. We'll see what happens.
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #567
  • Sep 26, 2008 10:50am Sep 26, 2008 10:50am
Hello, I left something in the room so i came back. It is difficult to get in. So many peolple are in the room. Everybody left for the weekends already, you guys (and gals perhaps) are still here. Lets go home and enjoy our winnings. My net total take for this week is almost 3,000 pips. Everyone have a nice weekends and ill see you Sunday at the market open.
Julius
Trader101
  • #568
  • Sep 26, 2008 10:53am Sep 26, 2008 10:53am
Quoting trader101
Hello, I left something in the room so i came back. It is difficult to get in. So many peolple are in the room. Everybody left for the weekends already, you guys (and gals perhaps) are still here. Lets go home and enjoy our winnings. My net total take for this week is almost 3,000 pips. Everyone have a nice weekends and ill see you Sunday at the market open.
Julius
Trader101
Woooooh 3 000 pips ....really ?
  • #569
  • Sep 26, 2008 10:59am Sep 26, 2008 10:59am
Quoting FOREXflash
Ok guys..Im sharing my IA account -FXpro broker

Login : 212253
Investor : ufit5xr

Hey thanks for sharing this forexflash... was this opened at market open this week?
  • #570
  • Sep 26, 2008 11:01am Sep 26, 2008 11:01am
Quoting matrixebiz
I went short about the same time. I might have messed up, a Buy was up in the Sell section and a Sell was down in the Buy section but ProfitCalc said go SHORT so I went SHORT. We'll see what happens.
I am having the same issue...I originally went short but was getting clobbered within minutes so I got out and went long...

If you are tradeing live then I hope you are the one who was right (I'm just farting around with a demo). I won't even be really tracking progress till next week.

Good Luck to you
  • #571
  • Sep 26, 2008 11:02am Sep 26, 2008 11:02am
Just a quick question here - for those of you who have taken trades, did you take them as soon as the anchor pairs moved? If so, has it always been profitable?

Reason I'm asking is that Trader101 said to let the IA run for at least several days before everything settles properly.

Also, I realize the best time to trade is during the London session. Unfortunately, I'm on the west coast of North America which means that I would have to stay up all night to get the best trades. I expect the US and Japan trading sessions work as well, although I would likely not make as many pips since these times aren't usually as volatile.
  • #572
  • Sep 26, 2008 11:03am Sep 26, 2008 11:03am
Hi guys anyone tell me how to close all the trades in MT4...i've used some scripts but none work. So i've been closing all 14 down manually and its driving me nuts

Thanks
  • #573
  • Sep 26, 2008 11:13am Sep 26, 2008 11:13am
Quoting hndymann
Hey thanks for sharing this forexflash... was this opened at market open this week?
Ok I am answering my own question.. and the answer is no. Does anyone out there have a demo IA that they have started from minute 1 of market open?
If no one does maybe we can get someone to voulenteer to open a demo account IA this coming sunday for all to use as a reference. It would be best if we had two accounts one on IBFX and one on FxPro.

Luke
  • #574
  • Sep 26, 2008 11:16am Sep 26, 2008 11:16am
Quoting madscalp
Woooooh 3 000 pips ....really ?
OK i exaggerate a little... actually a lot. It was only 2,114 pips net total.
Sorry, really i am going...
  • #575
  • Sep 26, 2008 11:16am Sep 26, 2008 11:16am
Quoting tradersyoung
I am new to this forum, but I am willing to stick my neck out and suggest how I think this extremely innovative approach to Forex trading works - so amazingly well. It took quite a while to reason this out, but I finally had an "ahah!" moment that other more able contributors seems to.
I describe it in the note and attach as a pdf. Please feel free to add or critique. I have a very thick skin (and some would say a thick skull).

Here Goes:



TraderSyoung’s Notes on Trader101 System
<skipped>

Very nice TraderSyoung! It looks like you are another beautiful mind in this thread. I have a few questions though. Total profit of mine 14 open pairs (that's what you were referring as VC, right?) has been dancing around -150-200 pips (negative). It's perfectly understandable. Those pairs is a hedge and it maintaines itself at some constant level. Some people went short/long several times since I started last week, but that hedge profit almost never changed. Now, I would ask you to eleborate a liitle more if you could how you define that VC level below which we are supposed to buy and above which we are supposed to sell.
  • #576
  • Sep 26, 2008 11:19am Sep 26, 2008 11:19am
Quoting hndymann
Ok I am answering my own question.. and the answer is no. Does anyone out there have a demo IA that they have started from minute 1 of market open?
If no one does maybe we can get someone to voulenteer to open a demo account IA this coming sunday for all to use as a reference. It would be best if we had two accounts one on IBFX and one on FxPro.

Luke
I have but 4 minutes after it opens last Sunday
the have also a 9/14 open 1 minute after market opened. Ok ill post it the IAs tommorow (account numbers).
  • #577
  • Sep 26, 2008 11:42am Sep 26, 2008 11:42am
Quoting trader101
OK i exaggerate a little... actually a lot. It was only 2,114 pips net total.
Sorry, really i am going...
It's nice.
Week-end in Nassau Bahamas , luxurious resort, champagne , deep sea fishing , casino with your wife or your girlfriend .....
  • #578
  • Edited 1:05pm Sep 26, 2008 12:53pm | Edited 1:05pm
i agree with sharing an account that was opened right at the beginning of trading. My IA is is delayed afew mins. i think it helps if everyone is looking at the same thing...
im going another week with the demo account and if all goes well im planing on using this with my live account..wish me luck hehe
  • #579
  • Sep 26, 2008 1:07pm Sep 26, 2008 1:07pm
please could someone advise ,i cannot drop the scripts into my platform, it just beeps

thanks
  • #580
  • Sep 26, 2008 1:08pm Sep 26, 2008 1:08pm
Hi,

I followed your journal last year, and was hoping you would share your knowledge with us. You kept referring to sharing it, but went only so far as to say you were using a basket of currencies, and sharing tidbits of information along the line. I am so glad to find you have ultimately decided to do so in one thread.

And what an ingenious system!!

I stayed awake most of last night reading the entire thread ( sad, some might think, I know). I'm going to read it again, before I ask any questions.
I need to firm up on my understanding of this so logical system!!

Many thanks Trader 101.
Warm regards
Pardy
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