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Simple Trading Method with trader101

  • #1,361
  • Oct 1, 2008 9:14am Oct 1, 2008 9:14am
in agreement with both crodzilla and mixman here.....

sometimes excessive popularity can be our own undoing..... such is the case with "the simple trading method with trader101".....

//-----------------
hey mixman..... create arrays in the manner you mentioned to better see the flow of money..... then you can apply standard indicators to those arrays to have signals .... such as moving averages, stoch, macd and so on..... moving averages example seen below..... and it seems wiser to trade in the direction of the money but only those pairs that are associated with it..... ie, don't buy the eurcad just because your usd pairs say to go long......

keeping an eye on the higher timeframes might be benifical but once you have "indicatored" arrays you will then have true easy to see easy to grasp signals..... takes on a couple minutes to turn those signals into ea's...........

you can also separate your pairs in the platform by using comments as seen below.......

just's some thoughts, nothing more......h
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pairs.gif Size: 25 KB
Click to Enlarge Name: usd.jpg Size: 199 KB
to trade and code, keep both simple... no call to impress....h
  • #1,362
  • Oct 1, 2008 9:16am Oct 1, 2008 9:16am
Quoting trendchaser
i just woke up, the ea finally took a trade, i think the 350 pips filter is to high
you should also set counter trade to false

i gotta go to work, il read up and try to fix any problems this evening
I agree the 350 pip filter is to high, I adjust mine back down to 75 and I'm currently up 400 pips from the short signal earlier this morning.




Great EA TC!!
  • #1,363
  • Oct 1, 2008 9:26am Oct 1, 2008 9:26am
nice short setup today up 500pips
  • #1,364
  • Oct 1, 2008 9:31am Oct 1, 2008 9:31am
Avatarx51

Could you be a bit more specific on how and why you took a short - i.e. what indicator/signal you used

Many thanks
  • #1,365
  • Oct 1, 2008 9:36am Oct 1, 2008 9:36am
Quoting hayseed
hey mixman..... create arrays in the manner you mentioned to better see the flow of money..... then you can apply standard indicators to those arrays to have signals .... such as moving averages, stoch, macd and so on ..... moving averages example seen below..... and it seems wiser to trade in the direction of the money...
Sorry, but I think you are missing the point. If we start adding MAs Stocks ect we will deviate from what this method it's all about (the correlation between tha pairs that T101 have break down into the basket). That way we are turning the threat away from it's purpose (SIMPLE trading method) to ANOTHER MACD-EMA-STOCH-LAGUERRE-RSI-crossing- changing color- trading method.
KISS, remember?
3rd World Trading
  • #1,366
  • Oct 1, 2008 9:39am Oct 1, 2008 9:39am
Quoting Orest
Some answers:
Orest
Hi Orest, I think that your indicator is great it gives a nice view of all the baskets (Long term and Short term).
I think the most relevant signal is when the 1d-4h-1h trend change in the direction of the weekly.
When 4h-1h are changing in direction of the 1d is also nice to trade but more risky.
And for you, which are the most relevant signals?
It would be great to have some alerts (mail) when a trend is changing.
Manu
  • #1,367
  • Oct 1, 2008 9:40am Oct 1, 2008 9:40am
Quoting lesaurus
Avatarx51

Could you be a bit more specific on how and why you took a short - i.e. what indicator/signal you used

Many thanks

all sells were up, all the buys were down
  • #1,368
  • Oct 1, 2008 9:44am Oct 1, 2008 9:44am
Avatarx51 what indicator did you get your signal from if you dont mind me asking- what was the condition before you got the 'signal'

Was it the last two pairs finally moving to their desired positions i.e. all green/ all red.

Thanks Paul
  • #1,369
  • Oct 1, 2008 9:44am Oct 1, 2008 9:44am
its a good ideah to have charts open to look at, i definatly wouldnt be taking any longs right now
Attached Image (click to enlarge)
Click to Enlarge Name: now.gif Size: 131 KB
  • #1,370
  • Oct 1, 2008 9:45am Oct 1, 2008 9:45am
i DO agree that we need as much as possible keep the method authentic and go with it. it - either you work with basket, 101 method - or you go back to old, HARD EMA's, fibo's, trendlines, pivots and all that... horrable stuff - but hey - it's the basics that every trader needs to know.

hayseed - thanks for the advise. actually to be honest - i could try to modify the indicator and do it myslef - but i'm afraid i'll screw it up...

:trendchaser :
thinking to try your EA - - could you post last version please - does it follow basic guidelines or T101 method?
  • #1,371
  • Oct 1, 2008 9:48am Oct 1, 2008 9:48am
until we understand the system clearly
the safest thing i see to do, is open the 14 trades in the ai during a ranging period

once you see the trend power, id glance at the charts for confirmation, if you see 90% of the pairs heading south, id say jump on in

i fairly understand the system, but far as pairs jumping, and detecting reentry and reversal, thats advanced, thats gonna take forward real life experience to grasp
  • #1,372
  • Oct 1, 2008 9:48am Oct 1, 2008 9:48am
Quoting SteveHopwood
That is because most of us were hoping for enlightenment from Julius. I am just blundering around in the dark like most people.

The basic concept behind trading the basket or an individual pair, is easy to grasp. How Julius arrived at it and how he worked out the correlated pairs is a mystery to me.

Any enlightenment will add to my store of knowledge. My pitifully small store of knowledge.

I think the basic concept is to see the moves of the currencies on your broker, that hopefully reflects the market movement.
That way, if you make a basket of 14 currencies, that it's almost a perfect hedge, as you watch the movement, you will get familiar with it and -in time- you can "predict" those movements.

Below (in my next post) I'll quote (first page, by the way):
3rd World Trading
  • #1,373
  • Oct 1, 2008 9:50am Oct 1, 2008 9:50am
Quoting trader101
No preference on the tp. your descretion but i normally close trade if the pair retreat 1 or 2 slots. Keep the demo running, it will become your indicator already and monitor it for the movement of the pairs. That is the reason why we have 14 pairs there. That way we can see more or less the moves of the entire currencies on that particular broker. Much better that those indicators, lines and candles but you have to observe it very closely. Eventually it will become like a road map to you and you can make your prediction where this certain pairs will go.
Cheers
T101
And below that: (see post #1375)
3rd World Trading
  • #1,374
  • Edited 10:28am Oct 1, 2008 9:51am | Edited 10:28am
Ok apparantly that was just making matters worse. doh.
  • #1,375
  • Oct 1, 2008 9:51am Oct 1, 2008 9:51am
Quoting trader101
I forget to mention your demo account is hedge (not a perfect)...

Cheers
T101
Have a good day

TIP: find the Excel Sheet by tradersyoug, maybe you'll get some ideas from it...
3rd World Trading
  • #1,376
  • Oct 1, 2008 9:51am Oct 1, 2008 9:51am
heres a version im testing, on ibfx mini, theres no settings to change, il reset the ea when were ranging
or at ny close
i realy think its a matter of going forward, and finding the best pips setting to avoid false signals, and optimal equity trailing



Quoting The_Mixman
i DO agree that we need as much as possible keep the method authentic and go with it. it - either you work with basket, 101 method - or you go back to old, HARD EMA's, fibo's, trendlines, pivots and all that... horrable stuff - but hey - it's the basics that every trader needs to know.

hayseed - thanks for the advise. actually to be honest - i could try to modify the indicator and do it myslef - but i'm afraid i'll screw it up...

:trendchaser :
thinking to try your EA - - could you post last version please - does it follow basic guidelines or T101 method?
Attached File(s)
File Type: mq4 T101 v2.3 ea.mq4   37 KB | 1,105 downloads
  • #1,377
  • Oct 1, 2008 9:56am Oct 1, 2008 9:56am
thanks for that post, that clarifies what i was thinking, to reset the ea in a range, is bout the same as starting the ai before the session you want to trade

Quoting deepblue27
Ok i'll chime in now. I was one of the people trendchaser further clarified some of his method to after he left this thread which he expressly asked me to pass on (it's quoted further down). Firstly however...my thoughts

This method relies on common sense as much as anything. There is fundemental theory on where the markets would be moving relative to current affairs to take into consideration whilst using these tools as a guide. As much as I'd like to see this become a defecto simple Red/Green light system that works. We know for the best part they just don't.


Surely any IA started on sunday has no data regarding any trend pattern the market was previously exhibiting. Also, from my reasoning an profitcalc that encounters a very strong trend (a short as we've had recently) will be biased to that trend and to get back to zero must encounter a trend equal and opposite in value.

Now I understand why the changing positions initiate a buy or sell. I'm just confused on the relative effect from when the IA was initiated and what it has encountered in the market since then. At first Trader101 stated we needed a continous (older the better) IA, now it seems some people are moving the IA start position around so as it give the result they want to see . Oh look, our sunday IA isn't giving any signs to buy yet, oh lets change the goal posts to 4 hours ago, ooh great, its working now, i've just made $400. Hmmmmmm. However if this is done with REASON (well then we might be onto something - see traders101 comments below)

One of the most important recent trader101 posts was this!




Now after I spoke with trader101 yesterday. He told me this to share with you guys.

TRADER101 AFTER LEAVING COMMENTS!!


So this clarifys when to use IA's and for the purpose of trading particular markets if there is a trend showing.

Back to my general ramblings (feel free to ignore)

It really is a shame that when methods are created, they aren't written like programming code. In my humble opinion. If at all possible, any strat should (before any method is reveled state in simple bullet points)

Goals : Overall trend trading based on a hedge indicator accross multiple currency pairs
Risks: High spread cost to make up on 14 pair trade
Money management: 10% SL of equity on initial trade etc, custom Profit-lock system
Target profit over period: variable
Trades per day: Dependant on IA and markets traded. Eg. 2 x 14 pair batches for NY and London trading hours. (also optional short term scalping)
Entry: IA of at least 4 hours of market open, profitcalc_v3 showing positive trend in either direction. (consider overall market fundamentals - very significant)
Exit: Automatic on set trailing profit-lock.


It's ironic for what is labled trader101 "Simple Method" has become so damn confusing.

I still have concerns regarding making up the spread on trading all 14 pairs at the same time and that the market has enough trending momentum to do so. I also have questions over volatility. Is trading 14 pairs over a markets open and close diversifying your risk to daily volitility or compounding it? If its diversifying (in relation to the average true range indicator for example) do we have - (ATR sumation of 14 pairs) / 14. Maybe someone with more experience could answer that for me.

Ok im done
  • #1,378
  • Oct 1, 2008 10:03am Oct 1, 2008 10:03am
Quoting trendchaser
heres a version im testing, on ibfx mini, theres no settings to change, il reset the ea when were ranging
or at ny close
i realy think its a matter of going forward, and finding the best pips setting to avoid false signals, and optimal equity trailing
quick question - if i'm using NON-ibfx - i basically remove m after the symbol in the setting of you EA?

DEEPBLUE
thank you for the post. it did clarify couple of things as well.
  • #1,379
  • Oct 1, 2008 10:06am Oct 1, 2008 10:06am
youd need to edit symbols according to your broker, im getting pm's about problems with other brokers, il check this later

i did find a problem in the money management

Quoting The_Mixman
quick question - if i'm using NON-ibfx - i basically remove m after the symbol in the setting of you EA?
Attached File(s)
File Type: mq4 T101 v2.4 ea.mq4   38 KB | 1,535 downloads
  • #1,380
  • Oct 1, 2008 10:38am Oct 1, 2008 10:38am
im getting pm's regarding the scripts in my picks, here they are, i gotta go to work now
Attached File(s)
File Type: zip scripts.zip   5 KB | 1,921 downloads
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