Simple Trading Method with trader101

Horizon

Hard question to answer. This thread takes a LOT of tangents. I am using basket method only. All I can suggest is to read about the first 80 pages over . . . and over . . . and over . . . copy and paste the good posts into a word processor, and read over and over.

Watch the download videos on post 360 before you download a single thing. That will give you the set-up.

Once you have the IA, watch the way it moves. You will get the hang of it.

Download your demos, and Practice practice practice

Post 1559 is a pretty clear re-cap of rules: both trading jumpers and basket.

Get on your demos and practice, practice, practice.

I like this A LOT better than any other kind of trading I have ever done. (I can claim on modest sucess, as a trader) I can't claim to be successful with this system yet, but I have made a little money on it consistently, especially for a sysem so new to me.

I think part of the problem is that there is a lot of ways to look at this system, and it is hard to wrap your mind around it all.

Best advice... slog your way through the thread.

Don't take every post as gospel, unless it comes from t101, and a few others. As you read, you will find out who to ignore and who to listen to.

Don't download every indicator or E/A that comes along. Stick with the I/A, and the E/As and scripts that T101 offers. Also a couple of other by Crodzilla, and Orest, though not all subscribers are big fans of them.

Most of all, what ever works for you. THis is a system genuinely worth learning.

Pardon me if you are a veteran trader, and I am talking to you like a newbie.

Yours, Beshakey

You nailed it Beshakey. This system is very dynamic.

"I think part of the problem is that there is a lot of ways to look at this system, and it is hard to wrap your mind around it all."

wow,just finished reading both threads,i feel as though sombody has hit me on the head with an axe,
i have started reading many threads on trading systems and stopped because they tend to be one of the same,but this looks very exciting,im waiting for my head to clear then will re read the first 50 pages again and try to tune into the core of this.thanks to all for pure brilliance.ps with regards to previous post regarding smoother trading periods i totallt agree and have found trading these times can be very productive and pridictive
look forward to getting to know every body,just hope im not to late to the party,ps t101 i see boracay is one of your chosen destinations mine to tropical paradise
william

hi

hi es trader
most of the threads ive read on this method were at there fever piont during the eco crisis,and one would reconise that this method would be 2nd to none with its overall edge,many of the threads have ended or become fairly quite in comparision,would you sugest this is because more diligence and understanding of the method is now required or this is a natural course of most threads or the markets conditions have changed considerably so as to make this methods edge more even,i must say that the 3rd sugestion seems unlikly as i feel with my limited experience on this method ther are many smooth price movements to be traded i gues i will need to study the movments and adapt acordinly,i guess im fishing a little hear as i dont want to set my rods and all up if the previous fisherman used tnt to catch every fish
mant thanks for reading
william

I too, Diceman, would like to keep this thread going. I am a little bit of a late comer to this system as well. Perhaps, with Julius' blessing, we can, at least on a small scale. It is his perogative, since he is the originator of thread and system. Perhaps with a smaller group of participants, nowadays, we make some headway towards helping ourselves learn this system and get a few pips.

I will get (or keep) the ball rolling by posting some results and a few minutes, with some observations.


Shakey

Results of my first month live trading 3485 PIPS profit.

Profit this week 834 pips
Biggest loss during this week about 400-450 pips
Drawdown hard to tell, I think about 3% of account balance
Biggest LOSS for the month in one basket trade 875.
I left a horrendous number of pips on the table.

Trading basket part of T101 's system only

Observation-- While this is a very unique way to trade, the rules of the forex still apply. You must still use good money management and pay attention to risk/reward ratios.

Must still use the same GOOD trading habits and stick to system, just like any other.
Don't risk too much in any single trade! Keep losses to 3-5% of account balance.
Just like any forex system, The higher the reward, the HIGHER THE RISK, just like any other system. You can rake the pips in by the shovel full, BUT you can lose it all and you can lose it fast.
Stick to demo until comfortable.

I have had a good month. Will know in a few more months if I am successful with this system.

How are other traders doing?

Beshakey,

I have no problem you posting on this thread as i know this will help encourage others to try it out.

My congratulations for a good pip production for the month, honestly that amount you mentioned are a year's profit for others. My self was struggling early of this week but was still able to go over the quota that we set (1000 pips a week). I know that most of the member of the group did make some good pips as well. The highest recorded for the week was about 3465 pips by one of the July Group.

As you go along with this system you will continue to discover new ways of interpreting data thus increasing your chances of a profittable trade.

Next week is an NFP week that i will caution everyone to be more conservative with their trading. I am anticipating that it will be a good trending and riding the basket to the end would be much advisable.

Cheers,

Julius

Thank you, Julius. Was I lucky? or was I smart? Only time will tell.
Thank you also for re-opening the thread a while back.

Let's guard against diverting the thread.

There seems to be some interest in keeping the thread alive. All still reading this thread should be aware that the purity of his method is of utmost importance to Julius, and rightly so.

Let's see if some interesting insights develope.

May your road to Costco be blessed with clear traffic and green lights.

Shakey

hi Shakey

Can I pm you?

Regards
rain

Hi Beshakey,

You use a EA for trading this method ?

You set a stop loss to 5% of account balance ?

Nice job.
Later++

Surfer. Only using E/A's and Scripts that are provided on this thread and seem to be endorsed by T101.

The E/A's are actually just tools that work on the Expert platforms.

I am using Orest v1.14, mini profit protect, and the buy and sell optimized scripts. I also keep the IA running and refer to it frequently. If you can comprehend it, it probably can be best indicator of the actual long term trend. Some of these tools have to be used with certain brokers. I use IBFX. other than that, I don't know which tool really fits which broker.

Yeah 3-5 is what I have been using. Basically, I have been figuring out what 5% of my account balance is, and dividing that by the number of pips I am interested in risking. That gives me my lot size. Pretty straight forward stuff, which I am sure you are used to.

You can lose BIG with this system. A risk of 3-5% will not damage your account, and you can afford successive losses.

Like any other system, volitility can take you out. If market is real bumpy, re-calc for larger number of pips, or stand aside.


The E/A tools that T101 provides have a default for 560 pips. I believe he is staying in for much longer term for bigger pip totals.

I tend to get out earlier (i am very jealous of profits, once i get them) and thus I have been having good results with setting S/L at 300-400, but then again, I haven't been staying in as long a term.

S/L can be adusted manually during trade to lock in profits. The account protect has an automatic locking feature. This is pre-set. I have preferred to do this manually. Requires a little screen time though.

This is just the way I do it, I am sure some others have more refined methods.

Hope that helps

Shakey

Below are Orest and IA from about 0400 GMT

Looks like going into what could be retracement or very early trend change. The long term columns on the Orest are very strong long with the Gy and EY leading the way.

On hourly time frame (orest) the anchors have pulled back. If you could see the chart live, you would see that there is quite a bit of volitility (pairs bouncing around all over the place, and a lot of jumping). Looks like the Yen is trying to make a bit of a come back.

Question is... is this retracement? or will the direction change begin to overtake the larger time frames. Let's see what happens? Since this is about mid-asia, and pre Europe session, the question may be answered at or near the European open.

If you are interested in longer term trade, the anchors seem firmly in place and nothing seems ready to jump.

Let's see where the Charts go from here.

Sunday night I had loss of about 150 pips on foolish attempt to trade retracement. recovered 150 pips on trade that I accidentally closed prematurely (live trading). Then got back in later and had ballpark 400 pips profit trade. Up about 450 pips so far. Added about 3-4% to my acct balance.

Sunday/monday was a VERY good day to be long.

Shakey

Thx for your feedback Shakey.
Regards.
Ludo.

Here is the ORest and IA a little later, about 0800 GMT.

THe retracement has deepened and translated back as far as the hourly time frame. Also note that the Anchors of the time frame have moved off, and have crossed the boarders. The longer terms are still pretty strong biased to the long. I think it may be significant that the anchors of the daily, 4 hr and hourly are the correct color. Does this indicate that it is a pretty strong change in direction?

I IA is looking to a little weaker now with the spread range narrowing. Still looks fairly strong long.

I think this is the time that discipline is the key. Wait for clear indication of trend change or end of retracement. Trend changes are account killers. Sometimes the best trade you can make is not to trade at all.

Does anyone else have any input? We are all interested in your insights!

THIS IS NOT TRADING ADVICE! I am just trying to share what I THINK I have learned, and share my recent good luck. I am new to this system too! I am sure there are many really good traders out there with really great opinions.

Let's rake in a few PIPS!

Shakey

hi Shakey

I was trying to PM you and it seems there is some problem with my account. I just wanna ask you a question.

when you put the profit protect EA in your trade, is it at the beginning of the trade or when the profit reached like 300 pips something.

I always put the EA at the beginning of the trade, it seems i can only get 75 pips. But the SL will be 40$ for each, like 560$. So i always earn only 75$ but lost much more.

I hope you can get my point. Sorry for my english, it's not my mother language.

Regards
Rain

Rain,

IF you have the 2protect account, I don't think it is adjustable.

If you have the mini protect account, you will find the input tab on the window when you first attach. Double click on the -56 change it to any amount you want. It is -56 for instead of -560 because it is made for mini account which is 10th the size of standard account.

I wonder. Are you using it on a standard demo? It might not work on that. OR the presets profit lock would probably be too small. That might explain the 76. It might be in the coding. I don't know

If that doesn't work, you might want to try the close if account loss too much and close if account profit reached. They seem to work pretty well. You will have to attach these to two different charts

Be sure which ever you use, you put a minus (-) sign on your stop loss when you attach it. If you don't, it will immediately close your trade after you open. When your trade moves to profit, and you want to preserve profit, simply reopen by double clicking the smiley face and scroll to expert properties. Change it from negative to positive however many dollars you want to preserve.

I usually attach them and set them after I start the trade. If they are already attached, active, and set from the last trade, something might be tripped as all the trades are opened. Thus re-closing the trade before it starts. I take them off after trade is closed.

I myself am looking for something less cumbersome to use. Let me know if you find something.

PS your english is fine.

Hope this helps.

Market has been ranging for last day or so. I stood aside, even though probably could have traded a couple of deep retracements.

All the Orest time frames are now falling back into a long signal. except for daily. Could probably go long based on the longer time frames, but might as well wait on the daily to come around too.

I am waiting for another green to jump on the daily. This will probably happen closer to the US open. I think there are some US fundies coming in. That might break it out of range. If it does, maybe the long will be sustained until NFP in friday.

Any input?

Shakey

US ADP came in. Kicked basket a little short rather than long. could be big players are pulling head fake, and kicking out some stops for a bigger move later. IA Spread is still tight in a small ranging market. Should be under a lot of pressure for a big breakout.

It costs nothing to stand aside and see. Maybe US market open will be the decider.

Shakey