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Simple Trading Method with trader101

  • #581
  • Sep 26, 2008 2:43pm Sep 26, 2008 2:43pm
Quoting trader101
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).
That would be pretty awesome just have a demo I/A for ibfx/fxpro or w/e and then just let people log in with investor password. I'm sure the reason why so many people are confused about when to enter is because a vast majority all started at different times.
  • #582
  • Sep 26, 2008 2:47pm Sep 26, 2008 2:47pm
How do you buy7 /sell 7 at exacctly the same time, does one of these scripts we have take care of that?
  • #583
  • Sep 26, 2008 2:56pm Sep 26, 2008 2:56pm
Quoting FOURX
How do you buy7 /sell 7 at exacctly the same time, does one of these scripts we have take care of that?
Hndymn (I hope I spelled that right) put together 3 videos and has all the files in one post you need to get started...The videos take you ALL the way Soup to nuts....I had trouble finding it the second time 9I think around Page23? (we should really put a sticky on that post or move the files to page 1)

Hope this helps

Jim
  • #584
  • Sep 26, 2008 2:59pm Sep 26, 2008 2:59pm
Quoting hndymann
Alright, I was bored today and decided to make a few video tutorials on how to install and setup the IA and Demo trading accounts for the system.

These videos are very basic so if you know how to do this already, there really is no need to watch them

Here you can find the tutorial on installing 2 copies of MT4 platform.
http://kantorfx.com/files/trader101/instaling_mt4.zip
-------------------
Here you can find the tutorial on the IA MT4 setup
http://kantorfx.com/files/trader101/ia_setup.zip
-------------------
Here you can fine the tutorial on the demo trading account setup
http://kantorfx.com/files/trader101/demo_setup.zip
-------------------
You can download all of the files I used in the tutorials here (except for the mt4setup file)
http://kantorfx.com/files/trader101/...1%20Method.zip
-------------------

Maybe these will be of use to some. Enjoy

Luke
Here ya go
  • #585
  • Sep 26, 2008 3:01pm Sep 26, 2008 3:01pm
Newbies Start Here for Setup
  • #586
  • Sep 26, 2008 3:03pm Sep 26, 2008 3:03pm
Quoting Jimbop
Here ya go
thanks jim. i have all that, but what are the final pairs that have been settled on.

i'm computer illiterate

the pairs on t101 screnshots are not as post 1,
  • #587
  • Sep 26, 2008 3:08pm Sep 26, 2008 3:08pm
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




This is my Analysis of Phase 1 of this System described so able by Trader101 and with great respect to his work and to everyone who has contributed to this post. (Note: This Analysis does not address the BUY/SELL All 14 Pairs also discussed on the post.)

I now call this approach Buy Low - Sell High - (How’s that for originality? LOL)

Why does this system Work? - It lets you Buy Low – Sell High, safely.

What you are doing – is creating a “basket” of currency pairs – that all together – balance each other out completely – By “balance out” – I mean that each LONG Currency side of a pair is offset by a same and corresponding SHORT Currency side of another pair, and visa versa.

I.E., for every EURUSD (which is LONG EUR and SHORT USD) there is somewhere in the combination of pairs both:
A SHORT EUR
A LONG USD
And since each of those have to be part of a pair – the other side of those pairs have to be in balance as well!

Any fully balanced combination of pairs will do as a minimum, but

  1. the more pairs involved the better hedge you have against non-market forces (news!)
  2. you want only the “best Liquidity” – and lowest spread currencies

So you have to balance these two concepts with what is available to you from your broker.

The 14 Pairs that Trader101 has identified seem ideal, as long as your broker supports them.
If not – use my spreadsheet to help identify what pairs you can use.

This combination of pairs can now act like a “virtual” trade – all combined into one line on the chart! – and now act as a “virtual currency” – which represents the Daily Profit of the basket of pairs

The original value of this “Virtual Currency” is pegged at almost zero – at the time you create it (when you execute the TradeHedge script (actually somewhat below zero – the sum of all the bid-ask spreads).

This represents the ZERO line- on a Profit/Loss Graph. What we are looking for is not the price of the pair, but the PROFIT OF THE PAIR – AS COMPARED TO – THE PROFIT OF THE VIRTUAL CURRENCY (I now call “VC”, for short)

What you are actually doing is trading the profit of a specific currencies pairs against this profit of the VC, that is:

  1. When a currency pair is valued “BELOW” the VC zero line – BUY IT ( BUY LOW)
  2. When a currency pair is valued “ABOVE” the VC zero line – Sell it (SELL HIGH)

Now, to avoid confusion for newby’s, (back to Forex 101) remember that each currency pair is composed of two currencies, one you BUY, the other you SELL

Example EURUSD:
When you Buy the EURUSD pair - you actually Buy EUR and SELL USD
When you Sell the EURUSD pair - you actually Buy USD and SELL EUR

So don’t be confused by this double meaning of
Buy/Sell Pair – vs. Buy Low/Sell High
We can’t seem to avoid this double terminology – so we will have to live with it.

TO live with it – Remember these simple rules:

  1. A BUY currency Pair (i.e. BUY EURUSD) has Value when POSITIVE – so you follow the simple rules BUY LOW (value)– SELL HIGH (value)

1.When a BUY currency Pair is BELOW the zero line (of the “VC”) –it has negative value – BUY IT
2.When a BUY currency Pair is ABOVE the zero line (of the “VC”) – it has positive value -SELL IT

 

  1. A SELL currency Pair (i.e. SELL EURGBP) has VALUE when NEGATIVE (that is – you have to reverse the sign of the “Profit” column for these pairs to make sense of this) – so you follow the simple rules BUY LOW (value)– SELL HIGH (value)

    1. When a SELL currency Pair is ABOVE the zero Line (of the “VC”) – has negative value - BUY IT
    2. When a SELL Currency Pair is BELOW the zero Line (of the “VC”) – has positive value - SELL IT

Obviously you will be better off the further away from the zero line the pair you choose to trade is when you take the trade or close it out.

THAT’S IT!

Since currency pairs fluctuate in value with respect to the world-wide basket of currencies – even Virtual Currencies! - remember to protect yourself before anything else!
NEWS AND SUDDEN MARKET SHOCKS EFFECT EVERY CURRENCY – IN AN UNPREDICTABLE FASHION – all you can do is:
Not Trade!
Be Preapared to GET OUT FAST!
I would strongly recommend setting up EA (on any active pair) as described on the post for
2ProtectAccount
Close-Trade_After_Account_Lose_Too_Much
Close-Trade_After_Account_Profit_Realized
As very well described in Luke’s Video on the thread.



EA MONEY MACHINE




It should be fairly straight-forward to write the following in MetaTrader. (I am an experience programmer – but new to the MetaTrader platform – so I can do it – but not quickly)

Indicator showing:

  1. showing the NET BAR PROFIT of all Pairs in your Virtual Currency – This will be the “zero Line” in every time frame and every bar.

(Hint: Allow user to enter/save the currency pairs they are using.)

  1. Then Plotting the NET BAR PROFIT of the Current Pair Above/Below that zero line – for every time frame and every bar (and taking into account if it is a BUY or SELL pair).
  2. This will indicate if it is time to BUY or SELL that currency Pair.

EA that will automatically:
Compute the values in the indicate above and then execute the trade (no need for a demo platform vs. a live platform)
1.Buy - when Currency is a given amount below/above zero line (or a percent of the total Virtual Currency high/low)
2.With some kind of built in profit/loss protection as given in the EA’s above

AN EA of this kind should be able to be back-tested – as long as you have the price history for all the pairs on your workstation.

(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



STEVE i think your insight is a perfect indicter of 101s great process

i believe it can be simplified and i think i found the way but its to simple

the anchor currency difference between the hh and ll can be expressed on a chart, so individualy they can be compared to the anchor currency and the strength and direction of both the anchore and the opposiTe currency and future direction of both in a single chart

the advantage of this is you dont have to wait for the currency to change directions on the list

you can see admediatly the hedge strength and direction

this is the secret to 100% hit rate using this method, but its a manual process

now this method takes out the watching and waiting and alows you more time to plan, ok its up to you how much time you want to sit and watch

but i think and know using 101s method can be simplified to take
advantage of the above trends and movement of currencys to the anchore currency

its only my opinion but i think 101 also reconizes that the hedging between each curency the counter hedge may not always be as perfect as he wants

a small point but i think that assment can be streamlined to take out the
glitches in a novel approach

next weeki hope to open a live trading room for our members, to toss around ideas between themselves and to teach them 100% hit rates

then to move on to this approach of 101 and discuss in depth how to simplify
and utalize 101s great work

this method does use 101 basic idea but identifies in a precise manner
the anchor , strength of the anchor to the counter currency

so that it can help take out the uncertainty of the trade of multi currencys
limiting the downside and individual losses

in other words precise selling at the hh and buying at the lowest low

wow one hell of a mouth full,

it will be a lot easier on a live trading room i will anounce the time and pw to our members

great work 101 and guys

from BRIAN
  • #588
  • Sep 26, 2008 3:19pm Sep 26, 2008 3:19pm
Quoting FOURX
thanks jim. i have all that, but what are the final pairs that have been settled on.

i'm computer illiterate

the pairs on t101 screnshots are not as post 1,
Now I'm confused the pairs are opened automatically with the Scripts...all you should have to do is make sure you have 14....7 buy and 7 sell for the IA and 14 all buy or sell in the Demo (or live)
  • #589
  • Sep 26, 2008 4:12pm Sep 26, 2008 4:12pm
as im currently looking into opening a newlive trading room ,im cureently investigating a few sites anual cost approx$1000 as thewww trading rooms site is closing today, (?for good)

maybe some one has a ready paid up site they are willing for members to use
with desktop screen share facilities,

if not later when ive opened mine, it may be a far easier way to handle questions and help those who have trouble, and of course share ideas and see live trading in action using this screen sharing desk top it will decrease the pages of queries and alow fast answers to questions ect

its a sujestion only, maybe some will like the idea

ive started impletmenting using our web for info access and cross referal sothat members in the future can refer back through ff and our site , so with this method you will be able to go live share desktops and have on the spot access to live trading


ithink many will love this ,this is a great way of inproving our knowledge in my opinion

from Brian
  • #590
  • Sep 26, 2008 4:45pm Sep 26, 2008 4:45pm
That's a great idea, Brian.

I'm surprised that the cost of the rooms is so high, even though it's for a whole year.
  • #591
  • Sep 26, 2008 4:54pm Sep 26, 2008 4:54pm
please do not mentioned our website i dont want to loose the privlidge of posting here here is an email i recieved and my reply

i have yet to dicuss this with luke and jth i will first train as many members as i can the first part tomake 100% hit rate, then after my small test group and there results, we will start training all our ---- members, on a live trading room i just started on thursday on my combined strategy of 101 and mine

simlplified to give anytrader the best of the best ive only started the process is unbelievable , although i dont exactly use 101s layout for trading the basic idea is the same

alowing you to trade in your time and make great 100% hit rates with great profits for a minimun of hassle

thats all for now

ps you guys will also be able to talk anytime on any forex subject with all members when its set up so of course 101s method its use and refirnments ,

what an opertunity to talkwith fellow traders in your time zone re set ups trades in the making sharing opinion ect for free

so i think if nothing else this will really help traders

best regards from Brian


----- Original Message -----
From:
To:
Sent: Saturday, September 27, 2008 6:13 AM
Subject: Your New Setup


Hi Brian,


My name is Bryon

I was reading the threads at FF and stumbled across your website. I registered a little while ago

I see you're starting to teach your new method next week and I'm really excited about it. Especially if it's
being combined in a sense with trader101's setup. I really would like to be one of the first ones to help test,
practice, etc. I have the time and patience. I know you're teaching for free but I don't mind paying to learn so
I will be at least definetely donating.

How do you plan on releasing this? I saw you mentioning something about sharing with a few close friends
and associates first. But since I'm new to your group, how do you plan on rolling out the method to new
members?

Once you setup up the new room I'd like the password.

Anyways, enjoy your weekend and I look forward to learning from you and becoming a regular member of
your group.

warm regards,



  • #592
  • Sep 26, 2008 5:11pm Sep 26, 2008 5:11pm
Im also very interested in learning ur methods ^_^


Quoting brijon
please do not mentioned our website i dont want to loose the privlidge of posting here here is an email i recieved and my reply

i have yet to dicuss this with luke and jth i will first train as many members as i can the first part tomake 100% hit rate, then after my small test group and there results, we will start training all our ---- members, on a live trading room i just started on thursday on my combined strategy of 101 and mine

simlplified to give anytrader the best of the best ive only started the process is unbelievable , although i dont exactly use 101s layout for trading the basic idea is the same

alowing you to trade in your time and make great 100% hit rates with great profits for a minimun of hassle

thats all for now

ps you guys will also be able to talk anytime on any forex subject with all members when its set up so of course 101s method its use and refirnments ,

what an opertunity to talkwith fellow traders in your time zone re set ups trades in the making sharing opinion ect for free

so i think if nothing else this will really help traders

best regards from Brian

----- Original Message -----
From:
To:
Sent: Saturday, September 27, 2008 6:13 AM
Subject: Your New Setup


Hi Brian,


My name is Bryon

I was reading the threads at FF and stumbled across your website. I registered a little while ago

I see you're starting to teach your new method next week and I'm really excited about it. Especially if it's
being combined in a sense with trader101's setup. I really would like to be one of the first ones to help test,
practice, etc. I have the time and patience. I know you're teaching for free but I don't mind paying to learn so
I will be at least definetely donating.

How do you plan on releasing this? I saw you mentioning something about sharing with a few close friends
and associates first. But since I'm new to your group, how do you plan on rolling out the method to new
members?

Once you setup up the new room I'd like the password.

Anyways, enjoy your weekend and I look forward to learning from you and becoming a regular member of
your group.

warm regards,



  • #593
  • Sep 26, 2008 5:15pm Sep 26, 2008 5:15pm
i want to say first my idea is not to make money on our site personaly i
believe in giving first and keep giving,

, im not attempting to ram my methods or anything but exchange ideas and build on others knowlege and expertise ,

the trading room is really for exchange of all trading ideas , its for your ideas ,

you to learn and help others we are all learning. i think101s ideas are fantastic. our members will dicuss them and all methods,we all can learn take on the good and discard what we dont like

ok i love making 100% hit rates every trade, there are hedging trade systems that profit on the differences of the minus plus ratio and make great profits 101s method has taken this to a new level

i use a variation , it suits my life style my comfort zone ,we say horses for courses. i want only to share and learn from each other im retired trading now is a hobby , that i make pocket money from

so i want to give to our members the facilitys to share greattrading ideas
and if someone likes to trade my way and inproveon it great

if not i love learning from people a lot smarter than me

so there you are im sure 101 would find this a great help in sharing his ideas

BY GIVING WE RECIEVE 1000X MORE I KNOW I HAVE

god bless you from BRIAN
  • #594
  • Sep 26, 2008 5:32pm Sep 26, 2008 5:32pm
TO ALL..
Ive been quiet for sometime about this but with all DUE RESPECT TO ALL. If you want any classes or lecturing or anything else you are free to go. Only thing please do not use this thread an a conduit for such. I hate to see people came here and start preaching he knows the system and make this forum as a jump start to herd people to his website. I started this thread in good faith to teach the method that i have. If you guys come here to teach your own method by my guest open another thread. It is free. I DO NOT WANT ANY MORE TALKING OF OTHER WEBSITE OR ANY METHOD AS LONG AS YOU ARE IN THIS THREAD. or i will be force to report this to the Admin. Respect the originator of this thread, do not ride on the popularity. 100% hit rate that is total BULL... so stop talking about it. Holy grail thats a bigger BULL... I hope we understand each other other here.
Julius
T101
  • #595
  • Sep 26, 2008 5:58pm Sep 26, 2008 5:58pm
Quoting trader101
TO ALL..
Ive been quiet for sometime about this but with all DUE RESPECT TO ALL. If you want any classes or lecturing or anything else you are free to go. Only thing please do not use this thread an a conduit for such. I hate to see people came here and start preaching he knows the system and make this forum as a jump start to herd people to his website. I started this thread in good faith to teach the method that i have. If you guys come here to teach your own method by my guest open another thread. It is free. I DO NOT WANT ANY MORE TALKING OF OTHER WEBSITE OR ANY METHOD AS LONG AS YOU ARE IN THIS THREAD. or i will be force to report this to the Admin. Respect the originator of this thread, do not ride on the popularity. 100% hit rate that is total BULL... so stop talking about it. Holy grail thats a bigger BULL... I hope we understand each other other here.
Julius
T101


Julius,
I couldn't agree more. I know I speak for many when I say we are in complete support of you. You have been a blessing to me and countless other traders who are grateful for this post and your sharing of a great trading strategy that may well be destined to be the greatest thread in Forex Factory history. Gushing? Yep, folks, it's that good!

I have a disdain for those who attempt to "steal" away the thread to further their own purposes. Go somewhere else to seek your agenda! I, for one, will stick with the originator, T101.

BTW, I made 80 pips on my initial trade. Thanks, T101!
  • #596
  • Edited 7:21pm Sep 26, 2008 7:21pm | Edited 7:21pm
Quoting trader101
TO ALL..
Ive been quiet for sometime about this but with all DUE RESPECT TO ALL. If you want any classes or lecturing or anything else you are free to go. Only thing please do not use this thread an a conduit for such. I hate to see people came here and start preaching he knows the system and make this forum as a jump start to herd people to his website. I started this thread in good faith to teach the method that i have. If you guys come here to teach your own method by my guest open another thread. It is free. I DO NOT WANT ANY MORE TALKING OF OTHER WEBSITE OR ANY METHOD AS LONG AS YOU ARE IN THIS THREAD. or i will be force to report this to the Admin. Respect the originator of this thread, do not ride on the popularity. 100% hit rate that is total BULL... so stop talking about it. Holy grail thats a bigger BULL... I hope we understand each other other here.
Julius
T101
I agree with Trader101. I was maybe too hasty in saying that the trading room was a good idea. While I don't think anything bad was meant by the suggestion, it should have been run by Trader101 privately first.

This is a wonderful system that you're showing in this thread. I've been following your calls for almost a year when you were posting in the Simplicity Is The Key journal, and it's great that you have decided to reveal the system to everyone - for free no less!

Hope for a good week ahead!
  • #597
  • Sep 26, 2008 7:25pm Sep 26, 2008 7:25pm
Hi Trader101,

Just want to say thanks for sharing your method! It's funny you posted your method just over a week ago and you already have people trying to add indicators, combine it with other methods of trading etc., without even taking the time to fully understand what you have put forth.

There have been a lot of threads that have come and gone here on FF, but some have stand the test of time. Threads such as "James16th Chart thread", "The Daily Fozzy Method" and "keys to the Mint" just to mention a few. These threads focus on teaching the basics and as such are and will remain apart of my trading tools on my way to financial freedom.

You see "James16" said it best, study, study and study some more, once you get familiar with a system make it your own. Unfortunately some individuals try to make a system their own before even studying the mechanics of the system they are trying to modify. It's like someone new to mechanics trying to supercharge a Honda Accord before even knowing what type of oil to put in the engine.

I spent the last week just studying the flow of your system, I didn't put on any trades demo or otherwise. This was the perfect time to see how your system reacts in times consolidation and to make notes on how the currencies reacted to one another. Yes, i could have put on a bunch of demo/live trades and made/lost real or fake money, but this would have either discourage me, if I had losses or encourage me to modified the system to eek out more gains.

I almost to the point in my trading career where I can take this full-time and with the addition of your new tool, I could be closer than I think, but time will only tell.

Thanks Again.
  • #598
  • Sep 26, 2008 11:32pm Sep 26, 2008 11:32pm
Quoting hansel
I agree with Trader101. I was maybe too hasty in saying that the trading room was a good idea. While I don't think anything bad was meant by the suggestion, it should have been run by Trader101 privately first.

This is a wonderful system that you're showing in this thread. I've been following your calls for almost a year when you were posting in the Simplicity Is The Key journal, and it's great that you have decided to reveal the system to everyone - for free no less!

Hope for a good week ahead!
I agree with you 100%. We need more insights from Trader101 in this thread. We do not need any confusion caused by changing or improvement to the system unless advised by Trader101. This will be too much for ordinary traders like me.
"Put all your efforts in becoming effortless"
  • #599
  • Sep 26, 2008 11:34pm Sep 26, 2008 11:34pm
i understand how you feel i would think the same please forgive me

your method rocks its great , in fact the live trading room would have been especially for your system,

im using just a minor variation it may not be as good as yours .

offered this as an idea for you to use, but in refection my intention as you quite righfully pointed out was posted badly and in refection i would have felt the same forgive me.

you deserve better than that, i will support you from a distance as i believe in your great work

im sure your idea will one day also be used live on a trading room as a way of further conveying your great work,

if at any time i would be willing to help as a silent contributer, finacially also as im sure many people would love to use this medium for learning your system

once again im sorry

from BRIAN
  • #600
  • Sep 27, 2008 12:09am Sep 27, 2008 12:09am
T101, how do you determine the re-entry of current trend ?

Eg. top 6 was sell and it has been the same since Asian open and London open, when and how can we do a sell ? Or we have to wait for trend reverse in order to make a trade (top most becomes buy) ?
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