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Simple Trading Method with trader101

  • #621
  • Sep 27, 2008 11:00am Sep 27, 2008 11:00am
Quoting j84
T101, is it possible to identify the best 8 to trade instead on trading all of them ? I understand that by trading all is safer becoz you will sure get hit on those winning currency. But if there is a method to find out the most profitable 8 pairs to trade, wouldn't it be great for the system ?

At least by trading best 8, we could significantly reduce the draw down if it happens
Of course it's a logical approach.
I don't understand why we need all pairs in the same direction while some pairs will be losing.
  • #622
  • Sep 27, 2008 11:02am Sep 27, 2008 11:02am
Quoting madscalp
Of course it's a logical approach.
I don't understand why we need all pairs in the same direction while some pairs will be losing.
Because we dont which one to lose and which one to win. What we know is that we will have more winner than losers
  • #623
  • Sep 27, 2008 11:03am Sep 27, 2008 11:03am
Quoting djmanu
It's true, T101 said you'll have to open a new IA every week (on sundays).
Yes to have the feel of the current week.
  • #624
  • Sep 27, 2008 11:06am Sep 27, 2008 11:06am
Quoting FOREXflash
soyabean that post has nothing to do with my question!
I know what are the anchor points!
The thing that bothers me is this........
-----------------------------------------------------------------------
quote from trader101 post:
Ok the second phase of our trading will be to optimized our trading. Trading all LONGS on 14 pairs is profitable already when there is strong trend. But with 14 pairs traded Long your winning pairs normally is 8 pairs and you loss the 6 pairs. Upsetting one of the pair in the group will increase you winning pairs. You will get the top 4 and the lower 4 and either 2 or 3 of the middle which will make your winning around 10 pairs or 11 pairs. The technique is to trade the UsdChf short when you are trading long or Long when you are trading short.
if Trading LONG;
short UsdChf
short UsdCad
if Trading SHORT
Long UsdChf
Long UsdCad
----------------------------------------------------------------------

All the scripts are optimized to do this, and Im wondering is that correct?
Is the above rule always correct, or that pairs must be current anchors???
If yes, than all the scripts are wrong!!!
Please answer me on this one.
Hi thre, sorry! Didnt read your question fully before I answered, this is just an advance method proposed by trader to optimise the trade by upsetting one of the pairs. I don't see how the scripts are wrong??

I realised I don't quite get what you are asking, trader please advise! haha.
  • #625
  • Sep 27, 2008 11:08am Sep 27, 2008 11:08am
Quoting trader101
Because we dont which one to lose and which one to win. What we know is that we will have more winner than losers
and to add on, statistically wise you are diversifying by reducing the std. deviation of ur expected returns. theoretically you should trade more pairs! the more pairs you can afford to hedge and establish the bias, the closer the standard deviation would be from the expected bias.
  • #626
  • Sep 27, 2008 11:10am Sep 27, 2008 11:10am
Quoting matrixebiz
To keep the currencies accurate on current market trends, we need to find the right Open and Close time for the 7X7 and 14 pairs, DAILY.

Step 1) Open the 7X7 just before a certain market open (to be determined)
Step 2) Let them and the market do their thing and settle as much as they are going to
Step 3) Examine what they are telling us at another certain time (to be determined)
Step 4) Open the 14 pair in some direction based on examining Step 3, just before another certain market open time
Step 5) Now we can close our 7X7 indicator trades and now wait to get profit from our 14 pair trade direction then start all over Step 1

Sequence keeps repeating within a 24 hour period. Just my thoughts.
I recommend to you a settling period of at least a day since you are all starting, you need a longer time to analyze the moves abd to realy give you an idea if the pairs are goinr downward or upward. However my practice is this:
When i put a trade on Sunday, the spread is say 77 pips or about $75.00 for .1 lot. my settling period is when it reaches 0 or -150. If it hits 0 then i more to trend Long if it hits -150.00 then it more likely to trend short. Usually this kind of situation is reached at about 4 to 6 hours. And becaseu i soem longer IA it becomes easier to analyse the direction.
  • #627
  • Sep 27, 2008 11:15am Sep 27, 2008 11:15am
Quoting trader101
Because we dont which one to lose and which one to win. What we know is that we will have more winner than losers
There must be a reason why 8 win 6 lose or 9 win 5 lose or 7 win 7 lose. If we know why it behave this way when we trade in 1 direction, we are closer to a better system ?

The current system is great, but will a filter to filter out the probable losing currency, we will get better result ?
  • #628
  • Sep 27, 2008 11:15am Sep 27, 2008 11:15am
Quoting j84
Is this true ? I though anchors suppose to trend the strongest and yet we counter trade them ?
True, its trend started when it crosses the boundary and reachng the top spot or lower spot. Again the respond , we dont knoe what is going to lose and going to win what we know is that we will get more winners than losers.
  • #629
  • Sep 27, 2008 11:16am Sep 27, 2008 11:16am
Yesterday you said: What is good is slot jump and changing of profit sign ( neg to pos or pos to neg) coupled with ProfitCalc on the latest IA that is pips in your pocket.
Please could you explain more ?
  • #630
  • Sep 27, 2008 11:18am Sep 27, 2008 11:18am
Quoting madscalp
There is stil a lot of confusion about this system.
If a guy understood perfectly the method, he could post regularly the IA and explain how he trades and what pairs.
So we could discuss about the process.
It would be certainly the better to understand this method.
In any case, the IA is the same for everybody.
It's only the way of trading which is confuse.
Ill do that next week , post the IA so all can see.

Comdoc-- just change the lot size of the file to suit the microlot. That is the reason why i made it .mq4 files for you to change.
  • #631
  • Sep 27, 2008 11:23am Sep 27, 2008 11:23am
Quoting trader101
Ill do that next week , post the IA so all can see.
Thanks a lot.
You're a gentleman.
  • #632
  • Sep 27, 2008 11:24am Sep 27, 2008 11:24am
Quoting j84
There must be a reason why 8 win 6 lose or 9 win 5 lose or 7 win 7 lose. If we know why it behave this way when we trade in 1 direction, we are closer to a better system ?

The current system is great, but will a filter to filter out the probable losing currency, we will get better result ?
If you can recommend one filter i would like to know but for now we keep it that way. It would be a disaster if the pair we counter trade and its correlated pair turn against us. We lost both of them than just losing one and winning the other. Always remember nobody not even the best trader or indicator knows where the market going. If someone tells you otherwise, curse him.
  • #633
  • Sep 27, 2008 11:27am Sep 27, 2008 11:27am
Quoting trader101
If you can recommend one filter i would like to know but for now we keep it that way. It would be a disaster if the pair we counter trade and its correlated pair turn against us. We lost both of them than just losing one and winning the other. Always remember nobody not even the best trader or indicator knows where the market going. If someone tells you otherwise, curse him.
You're right, T101.
I understand now why we have to trade all pairs even if the profit is less.
It's a safe way.
  • #634
  • Sep 27, 2008 11:29am Sep 27, 2008 11:29am
Quoting madscalp
Yesterday you said: What is good is slot jump and changing of profit sign ( neg to pos or pos to neg) coupled with ProfitCalc on the latest IA that is pips in your pocket.
Please could you explain more ?
Some pair jump location/slot but the profit is still negative(or same sign) its jump but not a good jump. But if it jumps by position at the same time the profit also chages. then that a good jump. Did i explain it well?? LOL I hope
  • #635
  • Sep 27, 2008 11:30am Sep 27, 2008 11:30am
Quoting madscalp
You're right, T101.
I understand now why we have to trade all pairs even if the profit is less.
It's a safe way.
Thank you .. Alleluiia my French buddy understand..no pun intended just having fun..LOL
  • #636
  • Sep 27, 2008 11:45am Sep 27, 2008 11:45am
I sympathize with all that the drawdown is big becaseu of the 14 pairs and all the are crying to trade only 4 pair i understand you plight people, if only 1 pair that is profittable.ill got for it. I have test the 2, 4 ,6 and 8 pair tandem the hit rate is hard to reached. The pairs i think is not really such a representatives of the world currencies. This basket trading is a very strong method. The currenccy moves in tandem all the time, If one pair moves unprecentedly a corresponding pair will counter such move, yoour basket will have more or less the same value all the time. Our other basket is the one that is making the money for us because of the indication given by the other basket as an analogy. Once i could find a method to reduce the number of pairs without sacrificing the winning ratio. I will test it here.
  • #637
  • Sep 27, 2008 11:48am Sep 27, 2008 11:48am
Ok guys, read through the thread and analyse it, i am willing to respond to all your questions if i can. By now I am running to Costco for some provision for the family, I ll catch you all later tonight.
Julius
  • #638
  • Sep 27, 2008 11:50am Sep 27, 2008 11:50am
Hi Trader101,

should your Protect Account EA be run on each graph of the open trades or can it be run standalone?

Will it protect the account in that case?
  • #639
  • Sep 27, 2008 12:34pm Sep 27, 2008 12:34pm
Quoting trader101
Some pair jump location/slot but the profit is still negative(or same sign) its jump but not a good jump. But if it jumps by position at the same time the profit also chages. then that a good jump. Did i explain it well?? LOL I hope

That helps, thanks a lot. Maybe the amount or percent by which it changed could be relevant too? Or monitoring the total of + or - on the buys and sells over a period as an indication of trend change or strength of trend change. Will check it out. Pls forgive if this doesn't make sense - I'm starting my IA on Sunday.

Pardy
  • #640
  • Sep 27, 2008 12:42pm Sep 27, 2008 12:42pm
Quoting FOREXflash
I guess that I was right when I said that the scripts posted here
are wrong becouse they are inverted for the current t101 anchor pairs.

Every week when you start IA, anchor pairs will be different,
and accordingly to this scripts must be edited for that scenario.
So use them with caution!!!

if Trading basket LONG;
short anchors

if Trading basket SHORT
Long anchors
I don't know where you came to this conclusion but... the USDCHF and USDCAD are shorted because T101 has found these pairs to be a little out of sync with the others. Maybe I am misunderstanding something here but and anchor pair has the greatest potential for movement... why would you want to go against it?
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