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Signals for Simplicity

  • #501
  • Oct 15, 2008 12:27pm Oct 15, 2008 12:27pm
Anyone using the Spreadsheet in the thread:-

Setting up the Basics for Trader101 style trading.

sorry the sum of the columns is off by one ... I should have the new sheet up in a few hours along with the instructions for the new DSN export script that will allow you to import the exported weekly details directly to your sheet locations without cutting and pasting each week. I just want to get the references to sheet1 completed so that any future versions wont require you to go through the process of setting up the spreadsheet to the correct import file locations each time ...

gimme a few hours....

thanks to those that pointed out this error.
  • #502
  • Oct 15, 2008 12:33pm Oct 15, 2008 12:33pm
Quoting Cdavid
Anyone using the Spreadsheet in the thread:-

Setting up the Basics for Trader101 style trading.

sorry the sum of the columns is off by one ... I should have the new sheet up in a few hours along with the instructions for the new DSN export script that will allow you to import the exported weekly details directly to your sheet locations without cutting and pasting each week. I just want to get the references to sheet1 completed so that any future versions wont require you to go through the process of setting up the spreadsheet to the correct import file locations each time ...

gimme a few hours....

thanks to those that pointed out this error.
This good for EXcel Lovers like myself.... CDavid are you starting this new thread??? The will become a new haven for Excel indicator like the Orest Indicator. I cant wait....
  • #503
  • Oct 15, 2008 3:04pm Oct 15, 2008 3:04pm
Round 2 BASKET TRADES about to begin

Happy trading
  • #504
  • Oct 15, 2008 3:12pm Oct 15, 2008 3:12pm
Quoting LaTeCoMeR
Round 2 BASKET TRADES about to begin

Happy trading
Sells still look awfully strong.
  • #505
  • Oct 15, 2008 3:16pm Oct 15, 2008 3:16pm
I entered sell basket 30min ago.....almost 1000pips
forexflash
  • #506
  • Oct 15, 2008 3:22pm Oct 15, 2008 3:22pm
Quoting FOREXflash
I entered sell basket 30min ago.....almost 1000pips
Good trade! Can you share your reasoning?
  • #507
  • Oct 15, 2008 3:43pm Oct 15, 2008 3:43pm
Hi Trader101,
It has taken me 3 days to read your all your previous thread and then this one up to date.
It seems to me that now that we have indicators and no longer need to use the IA demo account, that we could/should have a universal basket that includes all major currencies e.g. USD,EUR,JPY,GBP,CHF,CAD,AUD and NZD.

The disadvantages of the current basketa are :-
1. The IBFX basket does not include CAD at all.
If bought in ratio, going long the basket is equivalent to
GBP x 2
USD x -2
EUR x 4
CHF x -2
JPY x -6
NZD x 2
AUD x 2

2. The non-IBFX basket does not include a NZD pair at all and if bought in ratio is equivalent to
GBP x 2
EUR x 2
JPY x -6
CHF x -2
AUD x 2 so in this USD does not figure at all!

Surely there is a better baskest of currencies!

Ian
  • #508
  • Edited 4:05pm Oct 15, 2008 3:49pm | Edited 4:05pm
Quoting ianf0ster
Hi Trader101,
It has taken me 3 days to read your all your previous thread and then this one up to date.
It seems to me that now that we have indicators and no longer need to use the IA demo account, that we could/should have a universal basket that includes all major currencies e.g. USD,EUR,JPY,GBP,CHF,CAD,AUD and NZD.

The disadvantages of the current basketa are :-
1. The IBFX basket does not include CAD at all.
If bought in ratio, going long the basket is equivalent to
GBP x 2
USD x -2
EUR x 4
CHF x -2
JPY x -6
NZD x 2
AUD x 2

2. The non-IBFX basket does not include a NZD pair at all and if bought in ratio is equivalent to
GBP x 2
EUR x 2
JPY x -6
CHF x -2
AUD x 2 so in this USD does not figure at all!

Surely there is a better baskest of currencies!

Ian

It's only took you 3 days to fully understand the system also come up with new revised

When everyone else takes weeks to gain knowledge

Trader101 spent 2 yrs to developed this method

You really a Genius
LOL

Hey! Julius , Do you have any advice for this guy??????
  • #509
  • Oct 15, 2008 4:13pm Oct 15, 2008 4:13pm
Hello Ian,

I am so glad that you spend 3 days just to complete the reading of all the posting in the old thread, aren’t you glad I have it closed otherwise no one had finish reading it. LOL. Posts were coming faster than anyone can read. I am looking t your suggestion and the reason behind why drive you to make this recommendation after spending 3 days reading the old thread and Orest thread and perhaps other related thread. Is the system making you poor? Are you Canadian? Seems you like CAD very much? Honestly, I do not understand the question. Do you want to change the pairing in the IA or the Trading pairs? You can trade any pair you want even the one not listed in the pairings, you can even trade gold or any precious metal. Or do you want to change the pairing in the IA?

Pardon me but I think you have misunderstood the concept completely. The IA in physical sense is now being replace by the indicator though not completely but almost equal, the IA is suppose to be the profit in dollar value, not pips but perhaps due to much mess calculating it they just use the pip value. This in itself is in error now. Example the EURGPB has lost its real spot. The indicator that you are using now comes from the IA whether you like it or not you need the IA maybe in another form but still an IA. You can msn me and i will discuss to you at lenght the concept which took me 2 years to before sharing it here. Some of you can also join so i can explain well the concept of the IA.
Julius
  • #510
  • Oct 15, 2008 4:28pm Oct 15, 2008 4:28pm
Im waiting for msn messaging, im in a mood to chat....anyone.. OK ill wait
Julius
  • #511
  • Edited 4:38pm Oct 15, 2008 4:34pm | Edited 4:38pm
Quoting LaTeCoMeR
It's only took you 3 days to fully understand the system also come up with new revised

When everyone else takes weeks to gain knowledge

Trader101 spent 2 yrs to developed this method

You really a Genius
LOL

Hey! Julius , Do you have any advice for this guy??????
Hi LaTeCoMeR,
I didn't claimed to fully understand the system, however it seems that unlike some people, I can both add and subtract.

It is only because I realise that there is probably more involved in the choice of pairs, that I am aksing Julius for his opinion.
And since I did read all the threads before posting (unlike most, it seems) I know that there has been some discussion betweet Julius and SMJones about comming up with a Universal basket of currencies.

Please do not insult me by calling me a genius, by doing so you just display your own lack of common courtesy.

Ian
  • #512
  • Oct 15, 2008 4:39pm Oct 15, 2008 4:39pm
Check this out...

Not too bad huh...

I wish it was my live account!

Regards,
Vip
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  • #513
  • Edited 7:54pm Oct 15, 2008 7:33pm | Edited 7:54pm
Quoting ianf0ster
Hi LaTeCoMeR,
I didn't claimed to fully understand the system, however it seems that unlike some people, I can both add and subtract.

It is only because I realise that there is probably more involved in the choice of pairs, that I am aksing Julius for his opinion.
And since I did read all the threads before posting (unlike most, it seems) I know that there has been some discussion betweet Julius and SMJones about comming up with a Universal basket of currencies.

Please do not insult me by calling me a genius, by doing so you just display your own lack of common courtesy.

Ian
I'm just kidding with you Bro, As you know we are all here to educated and exchange ideas. it's amazed me that you can finished in 3 days by read old threats already closed , if universal basket can be done it already done so
let the pro deal with that, they had that idea if they could then they do it already. we better stay on sideline and observe it.
in fact I only called you Genius not an idiot ???


Happy Trading
  • #514
  • Oct 15, 2008 7:51pm Oct 15, 2008 7:51pm
Quoting ianf0ster
Hi LaTeCoMeR,
I didn't claimed to fully understand the system, however it seems that unlike some people, I can both add and subtract.

It is only because I realise that there is probably more involved in the choice of pairs, that I am aksing Julius for his opinion.
And since I did read all the threads before posting (unlike most, it seems) I know that there has been some discussion betweet Julius and SMJones about comming up with a Universal basket of currencies.

Please do not insult me by calling me a genius, by doing so you just display your own lack of common courtesy.

Ian
Ian,
That is true that SMJ and myself have discussed the new universal pairing and we have infact check and double check the pairs and we are happy about it. It was so balance including the spread. The truth is there is an ongoing review being done by SMJ on the Universal pairs as of this writing. I could imagine the strain the Carl External monitor to be updated and the tremendous coding that Orest have to do to his Orest indic, having said that i become hesitant to change the already establish system of pairings, but it really pains me to think that we have to do conversion every time to satisfy both platform. Perhaps i will discuss both with Orest and Carl if they are keen to doing this Universal pairs that SMJ and myself would like to. Meantime, I would really not touch this topic for the moment and just make do of what we have. We touch this issue purely because of convinience nothing about the bias that you have written about which by the way is flawed.
Julius
  • #515
  • Oct 15, 2008 10:22pm Oct 15, 2008 10:22pm
For the record I don't have to do ANY changes. All pairs in Orest indicator are parameters, I might just need to change defaults, that's all - every user can do that once and save it as a template.

Frankly I salute the idea of Universal Basket as long as it doesn't affect the
main purpose the entire system. This way we would be all in the same boat and all that IBFX, non-IBFX confusion would be avoided. Please keep us informed. Great innovative idea !

Orest

Quoting trader101
Ian,
That is true that SMJ and myself have discussed the new universal pairing and we have infact check and double check the pairs and we are happy about it. It was so balance including the spread. The truth is there is an ongoing review being done by SMJ on the Universal pairs as of this writing. I could imagine the strain the Carl External monitor to be updated and the tremendous coding that Orest have to do to his Orest indic, having said that i become hesitant to change the already establish system of pairings, but it really pains me to think that we have to do conversion every time to satisfy both platform. Perhaps i will discuss both with Orest and Carl if they are keen to doing this Universal pairs that SMJ and myself would like to. Meantime, I would really not touch this topic for the moment and just make do of what we have. We touch this issue purely because of convinience nothing about the bias that you have written about which by the way is flawed.
Julius
  • #516
  • Edited 12:51am Oct 16, 2008 12:34am | Edited 12:51am
Hi everyone, i spent around one weeks(8 hours per day) but still cant finish the old thread, now i am read till page 75/140... huh still a long journey to go..

btw, after i read half the thread, i can really understanding the trading system by trader101, the rest of the replies i think are FAQ and some development of
indicator or some chart. but i will still read through all the thread so i didnt miss something...

Quoting ianf0ster
Hi Trader101,
It has taken me 3 days to read your all your previous thread and then this ...

Ian
dear Ian, i think if u can read all those post in three days, i really respect your speed of reading and understanding, no offensive here, i used 5 days to fully understand the system and all the IA movement..


Quoting trader101
My method is to enter only when there is a retracement from the trend. I am observing the figure given by the ProfitCalcR3 if it is going up or down when it is going against the trend direction given, for the last 15 min. I will wait for the 30 min candle about to end. Say 1:29, 1:59 or around the time, beginning of the candle is also good. Then I jump on the trade in the direction of the trend. I put on the Profit protect EA immediately. I couldn’t say more about...
Julius
hi julius, i am totally agree with you, the entry timing is the most important, i do entry my short position and no go on about 2000+ pips...

really thank for your method. now i still have some problem with the excel spreadsheet, i will look forward the rest of the old thread to solve it at my own..

one more i still impressive with your optimize method (some short and some long) , i try to read the old post if cant get there then i will ask you..

thanks again


nklin


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  • #517
  • Edited 4:31am Oct 16, 2008 4:27am | Edited 4:31am
Quoting trader101
Hello Ian,
..........

Pardon me but I think you have misunderstood the concept completely. The IA in physical sense is now being replace by the indicator though not completely but almost equal, the IA is suppose to be the profit in dollar value, not pips but perhaps due to much mess calculating it they just use the pip value. This in itself is in error now. Example the EURGPB has lost its real spot. The indicator that you are using now comes from the IA whether you like it or not you need the IA maybe in another form but still an IA. You can msn me and i will discuss to you at lenght the concept which took me 2 years to before sharing it here. Some of you can also join so i can explain well the concept of the IA.
Julius
Julius,
Thank you for your reply.
I don't think that there is any great problem in having the indicator do its clculations based upon the USD value, if this is so important. I suspect that the reason it has not already been done, is due to needing to be able to support both the IBFX and non-IBFX pairs. If there was just a single universal basket, then the required calculations could just be hardcoded into the indicator - rather than parameterized..

I am not a development programmer ( worked 30 yrs in IT Software support), but I will take a look at the code required to calculate in USD rather than in pips. Since I am slow at development, I just don't want to waste my time looking at something that is not required.

Ian

Ian
  • #518
  • Edited 6:00am Oct 16, 2008 5:37am | Edited 6:00am
not sure whether someones already talk about this:
I screen capture every 10 minutes and then use the 1-hr and 4-hr Buy and Sell numbers to plot the graphs as shown below. For this case, since the higher timeframe showing SHORT STRONG, we only wait to trade SHORT.

Is it a good and reliable entry signal?

http://www.tickjob.com/T101-2/t101-1hr-4hr.gif
  • #519
  • Edited 11:56am Oct 16, 2008 6:16am | Edited 11:56am
Hi Julius,
I just did some checking and it seems that there are only 4 basic formulae required to convert pips to USD (please correct me if I am wrong):

In the following, Iam assuming a standard lot size of 100,000 in base currency and 2 decimal place quotes for /JPY pairs, 4 decimal place quotes for non-/JPY pairs

1. For and pairs with USD as the Quote currency the pip value is $10.

2. All /JPY pairs, the pip value is $1000/USDJPY [ask].

3. For EURGBP (and others where the USD cross for the quoted currency is aaa/USD) , the pip value is $10 x aaa/USD [bid].

4. For all other pairs, the pip value is $10 / (USD/aaa) [ask].

*Edit - Ooops, I'm not sure about CADJPY,CHFJPY- need to double check!
Edit - yes, it appears that for CADJPY and CHFJPY the pip value is $1000/USDJPY.

Assuming the above is correct, I will go ahead and test a modified T101 indicator to see if it makes much difference.

Ian
  • #520
  • Oct 16, 2008 7:49am Oct 16, 2008 7:49am
Julius,

To modify my external monitor for a universal pairing group would be alright. Logistically it would be better, because I wouldn't have to update 2 different programs.

But, in my opinion, the impact of changing something that you have been doing for a couple of years should not come lightly. Don't change the way you have doing things just because it would be easier. Do it because it works.

"If it ain't broke, don't fix it."

I'll survive.

Carl
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