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  • #921
  • Edited 4:19pm Nov 10, 2008 10:31am | Edited 4:19pm
I am short the universal basket
except long the UCH EurGbp and UCad.

On oanda, i am using 1% of my account as position size for each pair, as opposed to .1 lots each.
based on basket bars breaking to the low side and ana trendine being crossed to the low side extended from a m30 view of last week.
See the attachments for clarification.
The bottom left chart is based on the M1 EURJPY
The indicator below it is by FxSniper. as I understand it, he developed it to make scalping moves on the 1 min charts. I am using it in conjunction with the EurJpy to help confirm the moves
Mark

Thanks comdoc for your help i ALWAYS appreciate



EDIT as of now it has bounced between+100 and - 150


EDIT as of 11:46 approx $300 in profit i will be loss limiting at 150

EDIT 12:06 closed the trade profit went as high as $680 I pulled out at $487 I believe a reentry is at hand though.
had my profit level stayed above $500 I would have been looking to double my position on the next FXSniper cross down.
But $487 is WAY COOL for me.

FINAL EDIT: I had to take O'lady shopping. i proibably would have re-entered had I been able to be around to watch.
Turns out that position would have given BIG TIME. 2500-4000 is my guess. But I am happy with my results and education
from today's experience.
Attached Image(s) (click to enlarge)
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  • #922
  • Nov 10, 2008 12:35pm Nov 10, 2008 12:35pm
Thanks Mark for the chart and explanation.

Would you tell us where did you get Fxsniper from?

I am still trying different indi's and technics.

Thanks
Mike
Failure, is a wonderful teacher!
  • #923
  • Nov 10, 2008 12:50pm Nov 10, 2008 12:50pm
Quoting markbcool
I am short the universal basket
except long the UCH...


Hello Mark,
can u pls explain to me how u read this EA?What do i need to look out for?Thanks or PM me
  • #924
  • Edited 4:31pm Nov 10, 2008 4:06pm | Edited 4:31pm
MIKE; do a search "FxSniper" I found it as I was surfing.
I did some "non automated testing" and saw some use for it to help me pull the trigger.
Basically, iI am looking at the cross downs when the chart trend (basket bars or the t101 basket indicator) is down, and the cross ups when the trend is up.

Today's was only my 2nd live trade using this perspective.

BUT read what sniper has to say about this indicator and why he uses it.
He did not develop this in conjunction with the T101 threads. I found it and hoped it would give me an edge

AYOUR2A
I hope this helps you.

Do remember I was also using the Orest1.14, ForexFlash indicators on multiple time frames, to lead me to pulling the trigger AND was governed by longer term support and resistance derived from "basket bars" on longer time frames. (Fibs and obviously visible TLs and HLs). ALSO
i had just finished reading this AM, a short thread on using the 1-2-3 setup in a breakout.. (do a search)

It isn't clear enough to me yet to be able to give set rules but I think I may have found my way into understanding and using the T101 perspective.

I would recommend that you post your trades and your reasoning for them, as you make them, so we all might learn from your successes or grow from mistakes.

A reminder to all
I AM NO GURU but I do look forward to sharing this learning experience.
MarkBCool
  • #925
  • Nov 11, 2008 10:54am Nov 11, 2008 10:54am
http://www.forexfactory.com/showpost...&postcount=796
Failure, is a wonderful teacher!
  • #926
  • Nov 11, 2008 3:07pm Nov 11, 2008 3:07pm
Quoting markbcool
MIKE; do a search "FxSniper" I found it as I was surfing.
I did some "non automated testing" and saw some use for it to help me pull the trigger.
Basically, iI am looking at the cross downs when the chart trend (basket bars or the t101 basket indicator) is down, and the cross ups when the trend is up.

Today's was only my 2nd live trade using this perspective.

BUT read what sniper has to say about this indicator and why he uses it.
He did not develop this in conjunction with the T101 threads. I found it and hoped it would give me an edge...
Hello MarkBCool, Thanks for sharing your trade experiences. I have a few questions. When you look at Orest 1.14, what were the signals that gave you a GO (This day, 4H, 1H, ... gave a same strong signal?) ? Did you check for the Total number on any of those TFs ? What is the number?
Thank you.

Thanks you Julius for giving us a chance in this game.
Happy pippin' to everyone
  • #927
  • Edited 10:58pm Nov 11, 2008 10:45pm | Edited 10:58pm
Still kicking myself for not staying in. Woulda been 10K

I relied more heavily on the relationship between the major trends As presented by Orest 4h 1d this week, and the short term trend that is visually discerned from looking at the 1 minute chart, by using Baset bars or the basket indicator .

Also paying heed to historical fibs and fibs on the most recent major move on the 1 minute chart and from last weeks hi-lo etc.

I am looking to add an optimized basket when sniper crosses with the trend. So if the trend is up on the chart and sniper crosses up, especially if it is below the 200 line.

I am also on the loookout for divergance between the Sniper and the basket bars. ESPECIALLY if the trend is headed for support or resistance.

Right now I am using the universal basket plus Usdcad. I will go the opposite direction with UsdChf and UsdCad. I will go the opposite with EUR GBP OR not include it at all.

A word about optimizing. it gives you a better run if you are right or hurts you more if your wrong..


TODAYs PHILOSOPHY Question

Some may prefer the safety of not optimizing, thus .the UC and UCHF become buffers if you are wrong or if the move goes against you initially.
I truly don't know which is better. Certainly if you are correct the majority of the time the optimization is the way to go.
Anyone having a philosophy on this is welcome to share their point of view with me.

A REMINDER
I AM NO GURU.
i am going through a learning process. When i happen to be right it is a great thrill for me.
But in no way should you base your desicions on anything but your own skills and intelligence.
  • #928
  • Nov 12, 2008 5:05am Nov 12, 2008 5:05am
Quoting markbcool
Still kicking myself for not staying in. Woulda been 10K

I relied more heavily on the relationship between the major trends As presented by Orest 4h 1d this week, and the short term trend that is visually discerned from looking at the 1 minute chart, by using Baset bars or the basket indicator .
...................
A REMINDER
I AM NO GURU.
i am going through a learning process. When i happen to be right it is a great thrill for me.
But in no way should you base your desicions on anything but your own skills and intelligence.
Thanks MarkBCool, keep up the good work.
Happy pippin' to everyone
  • #929
  • Nov 12, 2008 8:35am Nov 12, 2008 8:35am
A little off topic to take the monotony of trading, i found this somewhere.

If anyone have difficulty understanding the current world financial situation, the following should help....

Once upon a time in a village in India(no offense), a man announced to the villagers that he would buy monkeys for $10. The villagers seeing there were many monkeys around, went out to the forest and started catching them.

The man bought thousands at $10, but, as the supply started to diminish, the villagers stopped their efforts. The man further announced that he would now buy at $20. This renewed the efforts of the villagers and they started catching monkeys again.

Soon the supply diminished even further and people started going back to their farms. The offer rate increased to $25 and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!

The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business, his assistant would now act as buyer, on his behalf.

In the absence of the man, the assistant told the villagers: 'Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35 and when he returns from the city, you can sell them back to him for $50.'

The villagers squeezed together their savings and bought all the monkeys.
Then they never saw the man or his assistant again, only monkeys everywhere!

Welcome to WALL STREET

Julius
  • #930
  • Nov 12, 2008 8:49am Nov 12, 2008 8:49am
LOL.
well put julius
  • #931
  • Nov 12, 2008 9:12am Nov 12, 2008 9:12am
Quoting trader101
A little off topic to take the monotony of trading, i found this somewhere.

If anyone have difficulty understanding the current world financial situation, the following should help....

Once upon a time in a village in India(no offense), a man announced to the villagers that he would buy monkeys for $10. The villagers seeing there were many monkeys around, went out to the forest and started catching them.

The man bought thousands at $10, but, as the supply started to diminish, the villagers stopped their efforts. The man further announced...


Very Funny but something to think about.
  • #932
  • Nov 12, 2008 9:40am Nov 12, 2008 9:40am
Thousands of pips are being accumulated right now, dont tell me you are not getting all of this SHORT rally..
Julius
  • #933
  • Nov 12, 2008 9:59am Nov 12, 2008 9:59am
Quoting trader101
Thousands of pips are being accumulated right now, dont tell me you are not getting all of this SHORT rally..
Julius
I am in an its a beautiful thing. Hope you made some headway with that broker thing.

Gary
Gary Success is a journey not a destination
  • #934
  • Nov 12, 2008 10:00am Nov 12, 2008 10:00am
Hello T101, thanks for a funny story but deep on education.
I catched the trend a bit late. I got in around 09:35EST. It fought back and for. I scared of reversal so i got out for +350p @10:30EST. It then started skydiving..... But i am happy
Thanks so much for this method.
gFX
  • #935
  • Nov 12, 2008 10:28am Nov 12, 2008 10:28am
Quoting trader101
A little off topic to take the monotony of trading, i found this somewhere.

If anyone have difficulty understanding the current world financial situation, the following should help....

Once upon a time in a village in India(no offense), a man announced to the villagers that he would buy monkeys for $10. The villagers seeing there were many monkeys around, went out to the forest and started catching them.

The man bought thousands at $10, but, as the supply started to diminish, the villagers stopped their efforts. The man further announced that he would now buy at $20. This renewed the efforts of the villagers and they started catching monkeys again.

Soon the supply diminished even further...

Thank you Julius.You are great.
  • #936
  • Nov 12, 2008 10:42am Nov 12, 2008 10:42am
That SHORT rally a while ago generated me a little over 3,000 pips. Lesson learn, this is how Forex is being done, WAit for opportunity like that then you can rest for the whole week, with 3000 pips. You dont have to bust your behind trying to beat the market everytime you trade all the time.

With basket this is possible. If you are trading pairs with TP 50 and SL 25 etc. you will be an old man before reaching 3000 pips.

We call that wasted opportunity, some reaches 50 on their TP you are 3000 pips scalping and both of you reaches your target. Let me remind you the bigger the gain the bigger the risk always.
  • #937
  • Nov 12, 2008 10:59am Nov 12, 2008 10:59am
I am using Oanda demo account for my Long Term Trading. At the beginning of the day candle, i check the profitchart for the position of the two line. One of the line must be pointing up and the other is pointing down. Very simple the line that points up is my trade direction.

I opened this Oanda demo 4 weeks ago and been trading this not regular, usually starting at Tuesday night(Asian) and let the trade goes the whole day. With that set up I am now tripling the account.

To those that have regular work this is the most ideal setup for you guys. You have to learn to trade this way. It is profittable believe me.
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  • #938
  • Nov 12, 2008 11:06am Nov 12, 2008 11:06am
hi julius
what u mean 2 lines ?? is this thread having something new ? i just found it . or it is just a continuation of the old one ?
thanks
  • #939
  • Nov 12, 2008 11:07am Nov 12, 2008 11:07am
im still folowing your profitcalc and orest indi , anyway i will read this one if there is anything new
thanks
  • #940
  • Nov 12, 2008 12:22pm Nov 12, 2008 12:22pm
Quoting trader101
I am using Oanda demo account for my Long Term Trading. At the beginning of the day candle, i check the profitchart for the position of the two line. One of the line must be pointing up and the other is pointing down. Very simple the line that points up is my trade direction.

I opened this Oanda demo 4 weeks ago and been trading this not regular, usually starting at Tuesday night(Asian) and let the trade goes the whole day. With that set up I am now tripling the account.

To those that have regular work this is the most ideal setup for you...

Thanks for this Tip. I'm trading all 14 pairs long term on Oanda, but I close my trades daily, can't sleep without no SL or TP. All I look at daily is my weekly and daily IAs and the Basket indicator, then take my trade in the direction of the indicator and daily IA - Like the short rally early this morning - I got in around 5AM ET, then re-entered again around 9:30AM ET. Men, my Basket is filled up with PIPs. Thank T101 -I CAN'T forget you. Now I look like I know what i'm doing in Forex.
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