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Simple Trading Method with trader101

  • #2,221
  • Jul 6, 2009 2:05pm Jul 6, 2009 2:05pm
Quoting Ure
Hi everybody,

I hope all of you are fine and making money!

I’m new to this forum and got attracted to this thread by our brother, Trader101. But unfortunately I was only able to make a little sense out of it. It may be a very simple method, but somehow I’ve got confused about it. I was reading from the beginning till few pages and got scarred off by the idea of having to go through all the 148 pages. I also didn’t see Trader101 in the last few pages.

So instead, I thought of sharing with you guys what I understand and did, so you could possibly...


Is gonna be mo easy for you, if you'll read all, cause its 2 method of work,
1) you buy and sell all 14 pairs;
2) you work only with 2-3-4 of them...
And, when you open the Hedge, its more easy to use lot 0.1, cause you need to se ethe spread total...
you can also use the Exel file or Orest, exel is better... its up to you... Good Luck
  • #2,222
  • Jul 6, 2009 2:08pm Jul 6, 2009 2:08pm
open about 2 hours ago....
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  • #2,223
  • Jul 6, 2009 2:17pm Jul 6, 2009 2:17pm
When we get movement between the buys and sells and the spread between the extremes or anchor points shrinks , the basket could be considered to be consolidating. When this happens, we could get a further swing, although at that point we do not know which way.

If the trend has occured for several hours it is no longer safe to take the trade in the direction shown by the IA. We should wait for the consolidation period before analysing the pairs for potential entry.

We should also look at the daily ranges to see if the daily range has completed before launching a trade as I believe that baskets are time sensitive.

Thoughts?
  • #2,224
  • Jul 6, 2009 4:19pm Jul 6, 2009 4:19pm
  •  Ure
  • | Joined Jul 2009 | Status: Let the trade come to you | 21 Posts
Quoting GregRom
Is gonna be mo easy for you, if you'll read all, cause its 2 method of work,
1) you buy and sell all 14 pairs;
2) you work only with 2-3-4 of them...
I just can’t go and read every thing because it already made me confused. Let’s see how the second method works. Do you think I can enter some trade by now? I’ve attached the recent screenshot down.
Quoting GregRom
And, when you open the Hedge, its more easy to use lot 0.1, cause you need to se ethe spread total...
you can also use the Exel file or Orest, exel is better... its up to you... Good Luck
Could you please explain what you mean by spread total?

Thanks,
Ure
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  • #2,225
  • Jul 6, 2009 4:25pm Jul 6, 2009 4:25pm
  •  Ure
  • | Joined Jul 2009 | Status: Let the trade come to you | 21 Posts
Oops! They should be sorted profit-wise.
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  • #2,226
  • Jul 6, 2009 5:06pm Jul 6, 2009 5:06pm
Quoting Ure
I just can’t go and read every thing because it already made me confused. Let’s see how the second method works. Do you think I can enter some trade by now? I’ve attached the recent screenshot down.

Could you please explain what you mean by spread total?-------- the negative balance wich you get when you open heidge.....

Thanks,
Ure


I'm working with al basket 14 pairs... i dont think that you can open some position for Long now... it.s too late... i just close my position, on 4.21 % from my depo about 460 $ , it was around 540$ total profit, and it close all at 460$... so the Orest is all on Sell now.


the third screen, is not the best indicator to open or close, but when you try to combine, its works....
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  • #2,227
  • Jul 6, 2009 5:09pm Jul 6, 2009 5:09pm
Quoting Limstylz
When we get movement between the buys and sells and the spread between the extremes or anchor points shrinks , the basket could be considered to be consolidating. When this happens, we could get a further swing, although at that point we do not know which way.

If the trend has occured for several hours it is no longer safe to take the trade in the direction shown by the IA. We should wait for the consolidation period before analysing the pairs for potential entry.

We should also look at the daily ranges to see if the daily range has completed...

Interesting observation. We'll have to pay particular attention to the nature of the consolidation and then what happens afterward if we're going to be able to use as a potential cue to think about getting set-up.
The cue needs to be readily recognizable & reasonably predictable...or at least plausable. Good observation, Limstylz.

Here's a question....Do you think it is at all beneficial to

a. split the pairs into individual currencies.
b. score ccy strength compared to the others in the basket
c. score the pairs based on individual ccy strength.
d. get a read on pairs strength (say an RSI 20/14/8 cross)
e. get a read on pairs price action (say a ATR 20/14 cross)

Then try to decide whether to do individual trade, or currency group trade, or whole basjket trade .

Or, is the above reading too much into this because the IA already does it for us & we're trying to learn to read it.

I already put a thing together on Excell which split the pairs & showed their price performance as each individual currency compared to how it did against all other individual currencies in the basket. When looking at pairs, the individual currency's strength was reflected in the pair's performance within the basket. But, looking after the fact....I'm not sure useful prior to. I may be onto something...or it just may be me off on one of my tangents.

If I ever get that together and it might prove useful, I'll certainly share.
  • #2,228
  • Jul 6, 2009 5:17pm Jul 6, 2009 5:17pm
Quoting Ure
I just can?t go and read every thing because it already made me confused.
Stop! how can you hope to start trading a method you don't understand, even on demo? Read post 1 again, thoroughly before blazing away with trades. Understand what it is the IA does, before anything else.
Think first... then ask questions
  • #2,229
  • Jul 6, 2009 5:21pm Jul 6, 2009 5:21pm
Quoting Limstylz
Stop! how can you hope to start trading a method you don't understand, even on demo? Read post 1 again, thoroughly before blazing away with trades. Understand what it is the IA does, before anything else.
Think first... then ask questions


Respect ! ! !
  • #2,230
  • Jul 6, 2009 5:27pm Jul 6, 2009 5:27pm
Hi, im new here and I want to know if I get this correct.

You open buys and sells order on sunday, when the market opens. Then you wait 1 or 2 days and see wich one gets to the porfit site and in a real account you trade that pair?

If its like this why GregRom has a lot of buys open and only 2 sells?

Thanks
  • #2,231
  • Jul 6, 2009 5:33pm Jul 6, 2009 5:33pm
Quoting reysol
Hi, im new here and I want to know if I get this correct.

You open buys and sells order on sunday, when the market opens. Then you wait 1 or 2 days and see wich one gets to the porfit site and in a real account you trade that pair?

If its like this why GregRom has a lot of buys open and only 2 sells?

Thanks


yes, you're right... i have opened 7 sell and 7 buys on sunday... now i'm trade all 14 pair !!!!!!!!!!!! is gonna be 12 buy and 2 sell, or vice versa, 12 sell and 2 buy !!!!!!
But 7 buys and 7 sell is like a monitor ! ! ! and its helping to work with anchors pairs.......
  • #2,232
  • Jul 6, 2009 5:38pm Jul 6, 2009 5:38pm
Quoting GregRom
yes, you're right... i have opened 7 sell and 7 buys on sunday... now i'm trade all 14 pair !!!!!!!!!!!! is gonna be 12 buy and 2 sell, or vice versa, 12 sell and 2 buy !!!!!!
But 7 buys and 7 sell is like a monitor ! ! ! and its helping to work with anchors pairs.......
Is there a way I can contact you so you can explain me more, because if you open 7 buys and 7 sells how could you have 12 buys and 2 sells?

I have msn or skype, I can put them here if you want to you you can add me

Thanks
  • #2,233
  • Jul 6, 2009 5:39pm Jul 6, 2009 5:39pm
Quoting Ure
Could you please explain what you mean by spread total?

Thanks,
Ure


http://www.forexfactory.com/images/icons/icon1.gif IBFX 14 pairs
I work this out since i woke up and here it is:
Set 1(The Buys)
1) GBPUSD
2) EURGBP
3) GBPJPY
4) USDCHF
5) NZDUSD
6) AUDJPY
7) EURJPY
Set 2 (The Sells)
8) EURUSD
9) USDJPY
10) AUDUSD
11) NZDJPY
12) GBPCHF
13) CHFJPY
14) EURCHF
Total spread for Buys = 37
Total spread for Sells = 40
Looks good almost the same spread. You can easily make your own script on this one.
T101
  • #2,234
  • Jul 6, 2009 5:48pm Jul 6, 2009 5:48pm
Quoting reysol
Is there a way I can contact you so you can explain me more, because if you open 7 buys and 7 sells how could you have 12 buys and 2 sells?

I have msn or skype, I can put them here if you want to you you can add me

Thanks
screen 615 -------- 12 buy and 2 sell
screen 619 -------- my MONITOR 7 sell and 7 Buy ! ! !


The Monitor is helping to work with some groups of pairs, which you decide... Anchor pairs....
On screen 615, in my case, i open all 14 pairs for Long, which is 12 buy and 2 Sell...
The best way for you, is to read all... because you confuse and youll never understand the system....
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  • #2,235
  • Jul 6, 2009 5:53pm Jul 6, 2009 5:53pm
Quoting GregRom
screen 615 -------- 12 buy and 2 sell
screen 619 -------- my MONITOR 7 sell and 7 Buy ! ! !


The Monitor is helping to work with some groups of pairs, which you decide... Anchor pairs....
On screen 615, in my case, i open all 14 pairs for Long, which is 12 buy and 2 Sell...
The best way for you, is to read all... because you confuse and youll never understand the system....
You pay for 101 system? Since when are you using it and how much are you making with it per month in %?

Thanks for your reply
  • #2,236
  • Jul 6, 2009 6:01pm Jul 6, 2009 6:01pm
Quoting petero
Here's a question....Do you think it is at all beneficial to:

a. split the pairs into individual currencies.
b. score ccy strength compared to the others in the basket
c. score the pairs based on individual ccy strength.
d. get a read on pairs strength (say an RSI 20/14/8 cross)
e. get a read on pairs price action (say a ATR 20/14 cross)
In answer to your questions from my observations into this and other basket strategies here on FF:

a) Not really, unless we are just trying to disseminate the strength of a particular currency against another currency to trade that individually... The IA then becomes an additional tool to check that we are getting in with strength (momentum) for that particular cross pair in collaboration with our other signals. There are better tools for that such as the currency heat map which GregRom appears to have on his chart.

There are 2 main purposes to basket strategies: Spread the risk and maximise on profit. If we analyse singular currencies within the IA, we provide better accuracy for a particular pair, but at the expense of the basket as a whole.

b, c, d, e) Again, if we want to trade individual pairs, then this might be the way forward. However, if we look past the individual ccy's and pairs and instead look at the IA as market sentiment, it becomes a whole lot more useful IMO.

It would be useful to analyse the spread between the buys and sells however, as this would give us an indication of consolidation. Closer spreads between buys and sells as a whole would indicate a consolidation between the currencies and a wider spread (over x amount of time) would indicate a move, one way or the other. Once we know the basket is consolidating for sure, direction of the basket would be relatively straight forward, as the basket as a whole would move in one direction or the other, after the consolidation period has finished.

All responses welcome...
  • #2,237
  • Jul 6, 2009 6:01pm Jul 6, 2009 6:01pm
Quoting reysol
You pay for 101 system? Since when are you using it and how much are you making with it per month in %?

Thanks for your reply


if you see here all system, why you asking me if i paid? its not my system, the owner is Trader 101 ! ! !
i didnt paid ....
  • #2,238
  • Jul 6, 2009 6:14pm Jul 6, 2009 6:14pm
Quoting reysol
T101 is selling a system, it costs 300 USD.

But if you say you didnt buy it its ok. Since when are you using this system? You always win?


if you cant understant system from here, you can ask T101 to buy....
If im working with this metod, its mean that im in profit... why you try to ask me about my profits ? maybe you want my bank account number ? )))))
This system is one of the best at the moment, for me...

Dont kill me with you quastions, just go ahead and read all, you'll see everything..... Good Luck
  • #2,239
  • Jul 6, 2009 6:21pm Jul 6, 2009 6:21pm
Quoting GregRom
if you cant understant system from here, you can ask T101 to buy....
If im working with this metod, its mean that im in profit... why you try to ask me about my profits ? maybe you want my account number ? )))))
This system is one of the best at the moment, for me...
No way, I dont want your account

I just wanted to know if it was porfitable and since when you are using it

I really want to learn it, I understand the basic concept, but I dont know how you chose to buy or sell more pairs than the 7 that are in the monitor.

Its possible than on sunday you buy and sell the pairs like in post 1 and once you woke up you see if the sells or buys are in porfit and you go that way?

I really think that the system is not hard, the thing is that theres a lot of post that doesnt say anything, and it will be nice that someone like you, that use this particular way of the system (I mean particular because in post 1 T101 doesnt explian this) can explain us more about it
  • #2,240
  • Jul 6, 2009 6:22pm Jul 6, 2009 6:22pm
Normally I visit this thread around night time. Today I make my visit and was glad for the renewed interest in this system. Guys you have raised this system to a different level. However, let me remind you that there are things that we should avoid doing.

1) The thread is already long enough and I know some of you are already complaining because it becomes confusing and hard to read. Let me remind all those that are monitoring this thread that this system requires a higher trading comprehension. If you are new to trading (newbie) I want you to read everything including the garbage. That includes the other accompanying threads. If you have not done this reading, please DO NOT POST ANY QUESTIONS HERE like someone has an obligation to answer you. If you do that, I will make sure that that will be your last post in this thread.

Questions that enhanced the system are welcome not questions that lengthens the thread. Be pretty sure that your questions are not written anywhere in any thread before posting here. Let me remind you that these rules were specified in the first page.

2) This Basket Trading System is a complete system, hence it was posted in the Trading system forum not in the Trading Discussion. It has its method of indication, it has its entry procedure, and it manages its trade and then takes the profit as well. Compare to other systems, this is way out of their league. This is a tested profitable system. Hence, I do not expect anyone to dilute the purity of this system by inserting any traditional brokers-approved-indicators that doesn’t work. I am hoping that the last experience with this system will not be repeated and force me to close this thread again.

Innovate with in the realm of price action indicators that is acceptable.

3) You have to use the Universal pairs since the indicators that you are using was calculated based on that pairing.

Thank you and enjoy your trading.

Julius
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