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Simple Trading Method with trader101

  • #2,241
  • Jul 6, 2009 7:01pm Jul 6, 2009 7:01pm
My sells seem like they're losing steam. I did notice my positive anchor got bumped but then regained it's place. I wonder if a reversal is comming?
  • #2,242
  • Jul 6, 2009 7:24pm Jul 6, 2009 7:24pm
Quoting Limstylz
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...

Well put. Thanks for your response,
I agree. Everything that we need is right there in the IA.

Key is the relationship between Long/Short +/- and the Total +/-, where the pairs situated, and where are they apt to go.
  • #2,243
  • Jul 6, 2009 7:27pm Jul 6, 2009 7:27pm
Quoting reysol
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...

Reysol, the system is not hard, but only the way which can help you, is to read all and all again... cause i use this method for a couple of months, but when i have some dificulties, im try to find the answer in this 150 already pages.... Belive me if you'll read all 2-3-4 times, is gonna help you only... Good Luck
  • #2,244
  • Jul 6, 2009 7:34pm Jul 6, 2009 7:34pm
Quoting trader101
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.

[font=Verdana]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...

Good to see you, Julius.
You've said it like no one else could.
Here's the system, or method....start screwing around with it, it won't work.

Everyone who hasn't must read through the thread, Particularly the first several pages. It won't kill you. You may learn something. But everyone following along needs to get a clue as to what's going on here.
Nobody is going to answer out-of-the blue questions. Get a little background, then welcome to the discussion on learning how to trade this gem. We're all trying to help each other out by sharing. Everyone can help in the sharing by learning what in the world it is that we're talking about.
It's mere courtesey.
  • #2,245
  • Jul 6, 2009 9:25pm Jul 6, 2009 9:25pm
The basket has contracted back to exactly where it was last night. It expanded, with a nice short overnight, and a profitable long today, which I'm calling a rebound.
I think the trend will pick-up where it left off & continue to the short.

So, all 14 sell, for me.

I've had on a 14 sell all day, which I didn't close.
I will keep the position on/
I expect the short bias through the next day or two. Don't see much in the buys. Those sells keep drifting north.
The basket Total has been neg. since the begining.
  • #2,246
  • Jul 6, 2009 11:39pm Jul 6, 2009 11:39pm
Hi GregRom,
I agree on reading a posts again when I am confused.
I sometimes ask just to confirm my understanding is corect.
As for signals, do you strictlly follow the procedure as described (when anchor place is taken by oposite side pair)?
I would think that other price actions indications (as suggested by Trader 101 today) like weekly pivots would help to avoide fals or early enteries.
Best regards.
Sasa

Quoting GregRom
Reysol, the system is not hard, but only the way which can help you, is to read all and all again... cause i use this method for a couple of months, but when i have some dificulties, im try to find the answer in this 150 already pages.... Belive me if you'll read all 2-3-4 times, is gonna help you only... Good Luck
  • #2,247
  • Jul 6, 2009 11:48pm Jul 6, 2009 11:48pm
Hi traders,
Maybe I miss the post somewhere, but can someone indicate what is the standars profit max P/L on a basket?
I guess that finding out what are the piks on the P/L spreads could help to anticipate pull backs and change in direction?
This could also be an indicatore to for TP!
Is there a good site for download of forax historicap prices so I can take a basket calculation of max P/L spread.
Best regards
Sasa
  • #2,248
  • Jul 7, 2009 3:45am Jul 7, 2009 3:45am
  •  Ure
  • | Joined Jul 2009 | Status: Let the trade come to you | 21 Posts
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
I agree with you that one needs to understand the method they wanna trade. Absolutely. And I will go back later on and read again the first post by Trader101 and let you know where it got me confused. I just could not get what he was saying and thought of doing what I understood and ask you guys for what I need to do next, so I will understand the method by practicing it in my demo accounts.
Quoting GregRom
[IMG]file:///C:/DOCUME%7E1/Trainer/LOCALS%7E1/Temp/msohtmlclip1/01/clip_image001.gif[/IMG] 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
Thank you for explanation! I’ve got the same pairs. I’d just reviewed them and made sure.
What I’d like to know now whether you look for a trade when the spreads pull apart or when they tighten. And what would you do when you get the situation as in the screenshot below? Let me ask you what in my head, so I can build up my understanding with clarity.

Thank you very much for understanding!
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 34 KB
  • #2,249
  • Jul 7, 2009 6:16am Jul 7, 2009 6:16am
Quoting petero
I expect the short bias through the next day or two.
Expectation is the mother of all fxxx-ups. My IA is showing massive buy since about 10 GMT this morning. Might go short again, but immediate trend is long for the basket.

The old addage is true... Trade what you see. This is easier to do with just numbers in my opionion, as the charts can sometimes look deceptive, especially on lower time frames.
  • #2,250
  • Jul 7, 2009 7:00am Jul 7, 2009 7:00am
As they are a PA do you use them. Yesterday we have nice bounce off weekly R1 and daily R2 and today from daily R1 level for EU.
Good trading.
Sasa
  • #2,251
  • Jul 7, 2009 7:07am Jul 7, 2009 7:07am
Hi guys, dot be so hard on us new here.
Remember "repetitio est mater studiorum"
So the more you teach us better you will be your self.
As I understand the main criteria is to see buys starting go up and geting to ancor position for buy of a basket and oposite is the sell for a basket (when the sells starts to go up and ocupy the anchor). Your buys and sells in IA have to be in P/L order.
I also whant to know if somebody has some experiences with P/L max levels at a turning points.
Sasa

[quote=Ure;2854947]I agree with you that one needs to understand the method they wanna trade. Absolutely. And I will go back later on and read again the first post by Trader101 and let you know where it got me confused. I just could not get what he was saying and thought of doing what I understood and ask you guys for what I need to do next, so I will understand the method by practicing it in my demo accounts.
  • #2,252
  • Jul 7, 2009 9:15am Jul 7, 2009 9:15am
The Basket is nearing the same spread distance between buys and sells as this morning. It will be interesting to see if it is able to break its low, or if it bounces again.

Well done if you were able to catch the retracement long from this morning and congratulations if you caught the current short from about 14:30 GMT.

Current basket momentum looks like it might reach its current bottom within the next hour. I'll be watching to see what happens around todays highest spread.
  • #2,253
  • Jul 7, 2009 1:30pm Jul 7, 2009 1:30pm
Does Trader101 or anyone else here for that matter have any recommendations as to the minimum account balance to start trading this method?
  • #2,254
  • Jul 7, 2009 3:10pm Jul 7, 2009 3:10pm
Just made 1100+ pips on a Basket short... =)
  • #2,255
  • Jul 7, 2009 3:41pm Jul 7, 2009 3:41pm
My 14 pair short from last night is down to - $50.00, from a low of -$-$1600. 00 from this AM.

Whoever went short this afternoon had a great day. Whoever went long this morning did well, too. Retrace - Whipsaw

I wonder if this short bias is going to continue. I'll have a look at 0:00GMT. The pairs are just rattling around like billiard balls right now.

Several news reports on JPY at 8:30EST (0:30GMT).
AUD Home Loans report at 01:30GMT as well.

I'll wait.
  • #2,256
  • Jul 7, 2009 9:31pm Jul 7, 2009 9:31pm
Quoting petero
My 14 pair short from last night is down to - $50.00, from a low of -$-$1600. 00 from this AM.

Whoever went short this afternoon had a great day. Whoever went long this morning did well, too. Retrace - Whipsaw

I wonder if this short bias is going to continue. I'll have a look at 0:00GMT. The pairs are just rattling around like billiard balls right now.

Several news reports on JPY at 8:30EST (0:30GMT).
AUD Home Loans report at 01:30GMT as well.

I'll wait.
Did you get a signal to get in (anchor bump)? Are you trading live?
  • #2,257
  • Jul 7, 2009 10:30pm Jul 7, 2009 10:30pm
Quoting sasavisnic67
Hi GregRom,
I agree on reading a posts again when I am confused.
I sometimes ask just to confirm my understanding is corect.
As for signals, do you strictlly follow the procedure as described (when anchor place is taken by oposite side pair)?
I would think that other price actions indications (as suggested by Trader 101 today) like weekly pivots would help to avoide fals or early enteries.
Best regards.
Sasa


Hi, sorry for late response... About you quastion..., No, i didnt wait permanent for the anchor signal, to open some positions... One of my best point is market analisys, i'm trying to see whats going on in USA,JPY,EUR and GBP, and also im using some indicators... if im not sure about something, i didnt open any position....
  • #2,258
  • Jul 7, 2009 10:38pm Jul 7, 2009 10:38pm
Quoting Ure
I agree with you that one needs to understand the method they wanna trade. Absolutely. And I will go back later on and read again the first post by Trader101 and let you know where it got me confused. I just could not get what he was saying and thought of doing what I understood and ask you guys for what I need to do next, so I will understand the method by practicing it in my demo accounts.

Thank you for explanation! I’ve got the same pairs. I’d just reviewed them and made sure.
What I’d like to know now whether you look for a trade when the...


in the same situations, just stay and wait, if you dont have any other confirmations from another indicators, its better to wait... thats how im working... my opinion, but if somebody have another explanations, i'll be glad to see... Thanks...
  • #2,259
  • Edited Jul 8, 2009 1:55am Jul 7, 2009 10:58pm | Edited Jul 8, 2009 1:55am
Hi GregRom
Which indicatores do you use to get confirmation and do you trade the whol basket or also single pairs?
Thanks
Sasa
  • #2,260
  • Jul 7, 2009 11:18pm Jul 7, 2009 11:18pm
Quoting bartstop
Did you get a signal to get in (anchor bump)? Are you trading live?

No. I'm still on demo. Lots to learn before I go live.

I was just watching the pairs move around & particularly watching the eb & flow of the Basket Total interact with the longs totals vs the shorts totals.

My overnight trade was absolutely wrong, especially during the earlier part of today. As the afternoon wore on, I'd made all of it back plus about $300.00 profit.

Had I been live...no way.
If I was using the Profitcalc EA, I'd have been stopped out at $-560.
Bad trade. Bad read of the IA. I got to figure what I didn't see.
Make my mistakes with funny money. Learn & get better & more confident with this thing.

This is an extraordinary method. You've got a very well thought out indicator (the IA), and all the rest is up to the trader.
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