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Simple Trading Method with trader101

  • #2,261
  • Jul 8, 2009 12:33am Jul 8, 2009 12:33am
Timing is everything with this method. I see that there was massive sell off last night which is still showing large short strength. I wouldn't like to get in just yet as there doesn't appear to have been a retracement yet so looks dangerous to get in.
  • #2,262
  • Jul 8, 2009 2:25am Jul 8, 2009 2:25am
Quoting Limstylz
Timing is everything with this method. I see that there was massive sell off last night which is still showing large short strength. I wouldn't like to get in just yet as there doesn't appear to have been a retracement yet so looks dangerous to get in.

I think it's retracing now.
  • #2,263
  • Jul 8, 2009 3:28am Jul 8, 2009 3:28am
Is everyone using Original Pairings ore Universal Pairings for your IA? I have a posibiliti to use Universal as my broker is offering all pairs. Is it beter to use Universal?
Sasa
  • #2,264
  • Jul 8, 2009 6:52am Jul 8, 2009 6:52am
My IA is showing a marked range between its highest spread and lowest spread between the longs and shorts. Bias is still short, but we could be looking at the bottom of the basket.

Possible reversal soon, but waiting for a clearer signal. Keeping out of the way for the time being as I definitely don't want to be on the wrong side of this particular trade.
  • #2,265
  • Jul 8, 2009 7:19am Jul 8, 2009 7:19am
Quoting Limstylz
My IA is showing a marked range between its highest spread and lowest spread between the longs and shorts. Bias is still short, but we could be looking at the bottom of the basket.

Possible reversal soon, but waiting for a clearer signal. Keeping out of the way for the time being as I definitely don't want to be on the wrong side of this particular trade.

I agree

The spread between buys and sells expanded yesterday and overall bias favored down.
Overnight not much changed
I think a consolidation is starting and possible reversal.
  • #2,266
  • Jul 8, 2009 7:25am Jul 8, 2009 7:25am
Quoting sasavisnic67
Is everyone using Original Pairings ore Universal Pairings for your IA? I have a posibiliti to use Universal as my broker is offering all pairs. Is it beter to use Universal?
Sasa

Trader 101 developed the Universal Pairings for IBFX users. The Original Pairings weren't all available.
As time went on, the Universal became the one most used,
Doesn't make a difference, really.
Just be sure to not get the 2 sets mixed-up & don't combine or mix & match.
Julius developed those sets & figured the hedge factors of each very carefully. Those sets are the heart of this whole thing.
  • #2,267
  • Jul 8, 2009 7:39am Jul 8, 2009 7:39am
I installed the script on post one on my fxpro account and it only opened 9 of the 14 pairs. Did I do something wrong?

[IMG]file:///C:/DOCUME%7E1/Owner/LOCALS%7E1/Temp/moz-screenshot.jpg[/IMG][IMG]file:///C:/DOCUME%7E1/Owner/LOCALS%7E1/Temp/moz-screenshot-1.jpg[/IMG]
  • #2,268
  • Edited 10:34am Jul 8, 2009 8:05am | Edited 10:34am
Quoting jat011
I installed the script on post one on my fxpro account and it only opened 9 of the 14 pairs. Did I do something wrong?

[IMG]file:///C:/DOCUME%7E1/Owner/LOCALS%7E1/Temp/moz-screenshot.jpg[/IMG][IMG]file:///C:/DOCUME%7E1/Owner/LOCALS%7E1/Temp/moz-screenshot-1.jpg[/IMG]
Check that FXPro has all the instruments (having had a quick look, I don't think it does.) You should download the other hedge script or edit the original with the universal pairs. You would know to do this if you had read the whole thread!

If this isn't the issue, then check your journal for errors as it could be a slippage problem. Again, you would know to do this if you had read the whole thread!

Also, as you're a newbie, this probably isnt the best strategy to start with. Check the beginner threads in FF which give some basic and much needed advice to novices about forex and the metatrader platform. Do this first, then read this whole thread before posting here again, otherwise it gets very tedious.
  • #2,269
  • Jul 8, 2009 10:46am Jul 8, 2009 10:46am
Quoting Limstylz
My IA is showing a marked range between its highest spread and lowest spread between the longs and shorts. Bias is still short, but we could be looking at the bottom of the basket.
Nope... definately not the bottom of the basket yet. Need to pay more attention methinks!

Does anyone know if there is a group/basket candle indicator? Will help determine previous lows and highs. I thought I saw one here, but obviously I was mistaken.
  • #2,270
  • Edited 4:29pm Jul 8, 2009 11:34am | Edited 4:29pm
Post deleted for continuity
  • #2,271
  • Edited 3:12pm Jul 8, 2009 1:20pm | Edited 3:12pm
Uhh...is 3600+ pips in the matter of days a record? WOW!
  • #2,272
  • Jul 8, 2009 2:25pm Jul 8, 2009 2:25pm
Quoting nebuman213
Uhh...is 3600+ pips in the matter of days a record? WOW!
Unless you are actually going to be trading with a $50k account, would you really be using a lot size of 1?

Also... what were your reasons for getting into the trade and staying in, considering that we have had several retracements since Monday, that might have been taken as reversals?

Well done in any case.
  • #2,273
  • Edited 4:14pm Jul 8, 2009 3:08pm | Edited 4:14pm
Thanks guys,

Julius
  • #2,274
  • Jul 8, 2009 3:09pm Jul 8, 2009 3:09pm
I am back from 2 day trip to Wiena and see we are in full sell mode (end of US trading). This is the first time for me to see my IA in work (I have it from this Monday).
In any case thenks petero and Limstylz for your help and explanations.
Sasa
  • #2,275
  • Jul 8, 2009 3:17pm Jul 8, 2009 3:17pm
Quoting Limstylz
Unless you are actually going to be trading with a $50k account, would you really be using a lot size of 1?

Also... what were your reasons for getting into the trade and staying in, considering that we have had several retracements since Monday, that might have been taken as reversals?

Well done in any case.
A lot size of 1 is the same as a lot size of 0.1, you just have to divide the results by 10. ;-)

If its a real account of course I wouldn't be using a lot size of 1...atleast not yet =)

If you look at the daily charts, there have been no real retracements. If you look at a 4 hr chart, you could spot some retracements. If you look at a 1 hour chart, there are many retracements noticeable. If you look at a 15 min. chart...well you get the picture.

I trade based on Daily charts and sometimes 4hr charts. Once I am in profit by a certain amount, I move my S/L to B/E and let it ride for as many pips as I can until I see some sort of candlestick price action on charts to get out.

I don't place my Basket trades using 100% of T101's methods, but combine it with some of my methods...it has been extremely profitable thus far....3 months and counting!
  • #2,276
  • Jul 8, 2009 3:18pm Jul 8, 2009 3:18pm
Quoting trader101
I notice that there are 2 posts that i have objections:

Limstyzl: So did ask me if i object the attachement. Yes i object to the attachement of that indicator. Please remove it before another indicator will be pasted.

Nebuman: Please remove your wide chart attachment, you did screw up the order of the whole page. If you dont know how to make it smaller then i suggest you removed it.

Lets keep some order in this thread.

Thank you,

Julius
Sorry T101...didn't realize the chart would turn out enormously large!!
  • #2,277
  • Jul 8, 2009 3:20pm Jul 8, 2009 3:20pm
Quoting Limstylz
Unless you are actually going to be trading with a $50k account, would you really be using a lot size of 1?

Also... what were your reasons for getting into the trade and staying in, considering that we have had several retracements since Monday, that might have been taken as reversals?

Well done in any case.
Sorry forgot to answer one of your questions. The reason I got in was after I opened my IA on Sunday, the Sells immediately started grouping at the top and Buys at the bottom. Since the IA was fresh, they still wandered here and there, but they would always ultimately end up Sells on top and Buys on bottom.

From there, I knew where the market was wanting to go and I put in my trade.
  • #2,278
  • Jul 8, 2009 4:24pm Jul 8, 2009 4:24pm
Quoting nebuman213
A lot size of 1 is the same as a lot size of 0.1, you just have to divide the results by 10. ;-)
Was just interested to know whether or not you actually planned on putting in $50k to your live trading fund, otherwise it seems like a wasted exercise in using an inflated lot size and start-up fund when in actuality, you would find a better 'live' comparison by setting your actual startup capital into the demo and using a relevant lot size.

Having seen the losses potentially accrued here, even on a lot size of 0.1, I would be concerned to use such a large lot with anything less than $50k.

Thanks for your responses. I have a clearer idea of what you are doing now.
  • #2,279
  • Jul 8, 2009 6:42pm Jul 8, 2009 6:42pm
Quoting Limstylz
Check that FXPro has all the instruments (having had a quick look, I don't think it does.) You should download the other hedge script or edit the original with the universal pairs. You would know to do this if you had read the whole thread!

If this isn't the issue, then check your journal for errors as it could be a slippage problem. Again, you would know to do this if you had read the whole thread!

Also, as you're a newbie, this probably isnt the best strategy to start with. Check the beginner threads in FF which give some basic and much needed...
Thank you, I will check out the beginners thread but I do think this is the strategy for me. From what I have read this looks like the best strategy in FF. Why settle for less?
  • #2,280
  • Jul 9, 2009 12:13am Jul 9, 2009 12:13am
Greetings All,
I have not made any posts to FF as I have had no need. Please do not treat me like an idiot just because I have not been posting. I am 52 yrs old and was writing market analysis code on Unix machines in the late eighties. This is the method that I believe could work for me and I am trying my best to learn. I do not know if the ProtectAccount EA should be added to each chart or just one. A simple response will suffice.
I will research this method as much as I can once I have some more understanding. Based on the assumption that we cannot take these correlations for granted ad infinitum I intend to do some do some backtesting of dynamic correlation based and entry strategies. I have over ten years of five minute data that may be a useful base for tests.
Well done Julius and I wish you success.
Cheers All
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