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  • #2,321
  • Edited 8:37am Jul 20, 2009 8:32am | Edited 8:37am
just to confirm, we are waiting for the USD/CHF on the weekly to anchor on the bottom before we go long on all 14.

By using orest we don't have to open 7 short trades and 7 long trades?

What about using profitcalc?
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  • #2,322
  • Jul 20, 2009 11:50am Jul 20, 2009 11:50am
Quoting jahual89
just to confirm, we are waiting for the USD/CHF on the weekly to anchor on the bottom before we go long on all 14.

By using orest we don't have to open 7 short trades and 7 long trades?

What about using profitcalc?
jahual89,

You should already have been long. Now I suggest waiting for a bit for direction as I am showing widening of spreads to a possible downside.

If you are using the Orest indi on this thread, just be aware of some minor errors in the code that may show erroneous updating of all TF's. You should really look for the latest version of the indicator on Orest's thread (still some bugs IMO) or consider using just the IA.

Read the first pages again as you obviously haven't taken it all in if you need to ask about profitcalc.
  • #2,323
  • Jul 20, 2009 11:52am Jul 20, 2009 11:52am
Quoting d0MiN077
regarding IA. is it still a good indicator when you always have it on
with all the news?
The IA is ALWAYS on! Read post 1 again for clarification of what the IA does.
  • #2,324
  • Jul 20, 2009 12:16pm Jul 20, 2009 12:16pm
yes, i know that but that is not my question. my question is can IA really be so good if you have it ALWAYS on. let say if it comes 3 big news on one pair. can that not be wrong in the long run?
  • #2,325
  • Jul 20, 2009 12:30pm Jul 20, 2009 12:30pm
Quoting Limstylz
jahual89,

You should already have been long. Now I suggest waiting for a bit for direction as I am showing widening of spreads to a possible downside.

If you are using the Orest indi on this thread, just be aware of some minor errors in the code that may show erroneous updating of all TF's. You should really look for the latest version of the indicator on Orest's thread (still some bugs IMO) or consider using just the IA.

Read the first pages again as you obviously haven't taken it all in if you need to ask about profitcalc.

So when did you go long (uk time)?
  • #2,326
  • Jul 20, 2009 2:10pm Jul 20, 2009 2:10pm
Quoting jahual89
So when did you go long (uk time)?
...But this instance of IA has been running for about 3 weeks.
  • #2,327
  • Edited 2:30pm Jul 20, 2009 2:13pm | Edited 2:30pm
Quoting d0MiN077
yes, i know that but that is not my question. my question is can IA really be so good if you have it ALWAYS on. let say if it comes 3 big news on one pair. can that not be wrong in the long run?
The purpose of the IA shows the group sentiment. It doesn't matter about a particular pairs poor release, because the whole point of the IA is to smooth the news and spikes and give you the sentiment of the basket.
  • #2,328
  • Edited 2:28pm Jul 20, 2009 2:17pm | Edited 2:28pm
basket spread narrowed and is widening to go long now. Earlier stall looks to have been a minor retrace.

EDIT: Actually, upon further examination, the collective spreads look to be where they were at about 13:00 UK time, showing caution with long entries. Asian markets should show true direction.
  • #2,329
  • Jul 20, 2009 3:22pm Jul 20, 2009 3:22pm
do you go in the direction of the first signal of the week?


so for example as soon as the first pair of the week crossed the boundary, you went in that direction?
  • #2,330
  • Jul 20, 2009 3:38pm Jul 20, 2009 3:38pm
Quoting jahual89
do you go in the direction of the first signal of the week?


so for example as soon as the first pair of the week crossed the boundary, you went in that direction?
Pay attention to the distance between the buys and sells. That is the most crucial thing you can do.

BTW, next time you chose to address me, please ensure that you have my moniker spelt correctly... I wouldn't mind ordinarily, but its another instance of paying attention!
  • #2,331
  • Jul 20, 2009 3:59pm Jul 20, 2009 3:59pm
Notice to all:

I have allowed that this thread reopen for discussion as petero, limstylz and others have some new ideas and hence they have invited discussions from traders that have really experiences in this system. Discussions not questions....

The result of that call was very discouraging as newbies comes here and bother the discussion by asking questions which are already responded in the old posts.

Let me serve this last warning for those asking questions about this system. READ ALL THE POSTS BEFORE ASKING QUESTIONS. I will implement the disallowing of those that post repetitive questions that obviously reveals that they have not read the older posts. No shortcuts.. read it if you want to be here.

Also this method is not for those new in trading. This system is more sophisticated than you think. This system will blow your account faster than you think if you dont know.

Also to the rest please avoid responding to those repetitive questions this way we dont encourage them to ask another repeat one. Thanks


Julius
  • #2,332
  • Jul 21, 2009 3:41am Jul 21, 2009 3:41am
T101,

Your efforts to keep this thread on the right lines do not go unappreciated. Thank you for your words of encouragement.
  • #2,333
  • Jul 21, 2009 5:05am Jul 21, 2009 5:05am
can someone confirm whan we go ling?
  • #2,334
  • Jul 21, 2009 11:47am Jul 21, 2009 11:47am
Quoting trader101
I am preparing an E-book of this, so just be patient and evnetually it will be done, i sympathize with everyone about the frustration they feel. I dont feel well as well because as the originator of this thread i want to effectively convey this to you, or i will be a failure myself. This is he best system I have encountered and i dont want it to go to waste by not conveying it to you properly. The measure of a good teacher is not how good he teach but how good the student learn.
I was told about this thread about 2 weeks ago by a trader that I network with. I created a FF account this weekend specifically so that I could communicate and contribute (eventually) on this particular system.

I am writing to you from the past. Specifically, I am writing to you from Page 42, Post #824. So, this means that if you are reading this (and you did not skip reading the thread), that I am approximately 10 months behind you since #824 was written ~10 months ago. I am looking forward to getting to the ebook that Trader101 mentions above, because I can tell you that I read from post #1 to post #500, and upon reading post #500 I was so confused/frustrated that I decided that I needed to start over from the beginning. So I read all the way from #1 to #500 again, and now I have made it all the way up to #824. I feel like I need to start over again, but I can't...I am a slow reader and it would take me days just to get back to where I am right now...so I am going to keep moving forward. I am still totally confused, but I am hopeful that by the time I reach to where you are now (somewhere around page 117 post 2300+), that I will fully understand the system and be able to start demoing it. I am also hopeful that I will be able to contribute in some meaningful way.

Trader101, thank you for sharing this with us....regardless of whether or not I eventually "get it" or not, I do feel like I am learning a lot by just reading through the thread. I should be caught up with the group over the next 1 or 2 weeks, and I will check in at that time and see how I might best contribute (I am keeping a chronological spreadsheet of the most important post and also all attachments, so that might be of use to someone I imagine).

Thanks again,
McPip
Trading Foreign Exchange....But Only By The Grace of God!
  • #2,335
  • Jul 21, 2009 10:48pm Jul 21, 2009 10:48pm
Quoting trader101
Notice to all:
.....
The result of that call was very discouraging as newbies comes here and bother the discussion by asking questions which are already responded in the old posts.
Let me serve this last warning for those asking questions about this system. READ ALL THE POSTS BEFORE ASKING QUESTIONS. I will implement the disallowing of those that post repetitive questions that obviously reveals that they have not read the older posts. No shortcuts.. read it if you want to be here....
Also to the rest please avoid...
I think this is fair enough for all. very understandable.

my (settings which is) default posts per page is 40 posts, so this thread comes to around 59 pages total (current). easily re-readable/reviewable imho.
there are other threads that are great as this one but not "luckily small" in terms of size ---- the james16 thread comes to mind. in that thread we still advice the same: reading all the way from post #1. using my current settings, the j16 thread is 958 pages long!!!

Having said that, it's just fitting to pay courtesy to the thread starter's plea/last warning.
  • #2,336
  • Jul 22, 2009 4:14am Jul 22, 2009 4:14am
  •  Ure
  • | Joined Jul 2009 | Status: Let the trade come to you | 21 Posts
Hi Julius,

I appreciate you have opened this thread to share such a great idea with us, and I understand how discouraging it is to have repetitive questions lengthening the thread without adding value to it. And I see there is a little issue with the original post where it was not very clear in what it meant.

Let’s have a look at this
Quoting trader101
You will trade the two pairs that jump out. If the pair that jump up is Long then trade the two breakaway pairs LONG or vice versa.
This is the original post which explains the method, and I guess everyone has read it and the issue here that maybe few of them only understood it, which creates frustration in those who read 10s of posts but still could not get what this original method says.

Obviously, as a pair jumps up to one of the upper 7 slots, it is counter-balanced by another pair which jumps down to one of the lower 7 slots. So if one of those pairs is long and the other is short as in the IA, which pair would be considered in going long or short in the read account?

I think if we would have clarity over confusion, we could maintain the thread in the quality manner that it deserves.

Have a nice day,
Ure
  • #2,337
  • Jul 22, 2009 6:45am Jul 22, 2009 6:45am
Quoting Ure
Hi Julius,

I appreciate you have opened this thread to share such a great idea with us, and I understand how discouraging it is to have repetitive questions lengthening the thread without adding value to it. And I see there is a little issue with the original post where it was not very clear in what it meant.

Let’s have a look at this


This is the original post which explains the method, and I guess everyone has read it and the issue here that maybe few of them only understood it, which creates frustration in those who read 10s of posts...
This post a good example of repeat question and do not tell me that you read the previous post because easily this repeat question was answered by post #52 on page 4.

Also i have already told you that this thread is sophisticated for you. There are approriate forums for you unfortunately this is not.

Ure, this will be your last post in this thread...

Julius
  • #2,338
  • Jul 23, 2009 5:45am Jul 23, 2009 5:45am
If you are monitoring spreads and choose to post your findings here, please remember to include the date when you opened your IA and subsequent indication trades. You can't really do this with the orest indicator.

I neglected to mention this in my previous posts. My latest IA was opened 2009.08.06 00:04 and as of yesterday had a significant wide spread in a short direction

At around 01:00(DST) today, the spreads started to narrow fairly rapidly by about 35% in the space of about an hour. This coincided with the Japanese market opening. This signalled a strong move long and looks to be a continuation of the original and less safe move from about 15:30 DST yesterday, after the market had retraced to about the middle of its full range.

Sentiment of the basket is showing a retrace and possible reversal. If you are looking to get in and go long wait for a bit for the sentiment to show its true direction. Better to stay out of it for the time being, otherwise you will get killed by sharp spread narrowing/widening when US opens.
  • #2,339
  • Jul 24, 2009 1:51am Jul 24, 2009 1:51am
i have read the method and a few random posts in this long thread. the unclear explanation and tangents make me ask for a summary of how this system is traded. is there a simpler explanation of how this system is traded?
  • #2,340
  • Edited 2:21am Jul 26, 2009 2:09am | Edited 2:21am
Quoting Limstylz

I neglected to mention this in my previous posts. My latest IA was opened 2009.08.06 00:04

..... Sentiment of the basket is showing a retrace and possible reversal. If you are looking to get in and go long wait for a bit for the sentiment to show its true direction. Better to stay out of it for the time being, otherwise you will get killed by sharp spread narrowing/widening when US opens.
Limstylz,
That is a good observation about how the baskets are affected during markets opening

I am interested in your thought of my observations concerning the best time of day to look for consistent ENTRIES:

Have been trading the basket system live for 3 weeks with small (.01, thru .10)lot sizes on mini. 1st week, 1750 pips, 2nd week approx 825, 3rd week only 77 pips (made a really bad mistake monday and spent rest of week recouping 856 pip loss, this was STUPID mistake that happens when you don't follow trading rules!)

So far it seems to me that: and remember this is from only my VISUAL OBSERVATIONS, on a few weeks trading live:

NEWBIES TO THIS THREAD ... PLEASE DON'T TAKE THIS AS GOSPEL, THIS IS ONLY SPECULATION! THIS IS NEW TO ME TOO . . .

1. If you start watching your IA at around 0300 to 0400 GMT. This is about the middle of the asia session, and a few Euro bankers are starting to wake up and fire up their PCs. You will often catch a trend somewhere around this time. It seems trendy here for about the next 4- 6 hours, until about 1000 GMT. This covers the approx 2nd half of the Asia session, and the first few hours of the Euro Session. Also seems to be a pretty smooth ride on these trends. I might also note, that I have had no problems with the EURO Fundimentals messing me up. Perhaps I am just lucky so far.

2. I no longer even THINK about entering any trades between 1000 GMT and 1400 GMT. THis is when the US traders are starting to awaken and look at THIER PCs. THis is where the vast majority of my losses have occured. Things seem Whip Sawish during this time and watching your I/A will make you crazy. Anchor pairs moving and re-anchoriing etc. giving false signals Finally you make a trade and then bail because you simply don't know where the IA is going to go.

3. Start looking at your IA for another trade around 1300- 1400 GMT. Often can catch a trend there, but a wilder ride than during the Asia/Euro session. Can be a real money maker though. You can rake in the PIPs in chunks. The US and Can Fundies, are done, and the US market is open. Seems to be a bit of retracement/indecision during the New York lunch hour (in the 1700 GMT to 1800 area) might be a good time to exit for the day.

4. 1900 GMT to 0200 GMT I don't even bother looking. The market seems to have no real direction, and I can't seem to find a decernable retracement to hop on to the extablished trend (if there is one).

I am interested in whether you see any merit to these observations, can add any imput, or see any fault in my observations. Remember, this is after only a few weeks trading demo, and a few more weeks trading live.

I would really appreciate any input for Limstylz or any one else.

PS thank you T101 for your great system.

Beshakey
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