Simple Trading Method with trader101

Dear Trader101, and dear all,

As a new member here I just want to say hi ! I had noticed your method for some time, Trader101, and now I have decided to take to it seriously, first have opened the 14 pairs on demo.

There are some things I still don't understand, but I am reading the thread from beginning to end. Several thousands posts vow ! Right now I am searching why you replaced the CAD pairs with NZD pairs. But as said I am now rebuked about reading all, I don't want to bombard you with questions as soon I have come in ! This message was rather to say hello from a newcomer.

And also to thank you for sharing your method with us all.

My next message(s) will be to add constructive comments and/or findings if I have some to share.

Sorry, it was "I am NOT rebuked" ; as a newcomer I can't edit my previous post.

Spipou,

You obviously weren't reading very well... However, as I am back from my exile, I will answer this question. Certain brokers don't carry all the pairs, thus T101 assembled NZD pairs for those who don't. This is in the first 10 pages of this thread.

Please ensure that you read it again carefully or risk being banned by T101.

For everyone else, please forgive my sustained abstinence and lack of communication... I was banned for participating in an unapproved 'commercial' thread. I have been trading well since my banning however. Twee has kindly revoked my banning.

Beshakey, looks like you have been making some massive headway. I am pleased that you seem to be grasping this. My only concern would be your use of the Orest indicator. IMO this gives too many false signals, but each to their own.

T101, Hi!

hi limstylz,
although i seem to be doing ok with this so far,i still dont feel in total control of my reasoning also using orest and my original ia and my freshly loaded weekly one,what would be your suggestions on this ,ive read and the excell i feel would be more suited to me but for love nor money can i get my head around loading it all,the other indies im using are great.
regards william

I had issues with the excel sheet as I'm no expert. My DDE server is running in metatrader, I think it has something to do with the date colums in Excel, but as I'm no expert I don't know what specifically needs changing.

I ended up creating a simple spreadsheet and manually writing in the prices. I do this once per hour for the time that I trade from to the time that I stop. Not ideal but works pretty well. Gives me an idea of the spreads between the buys and sells anyway. I believe you need to examine the spread rather than the position of the pairs in the basket as that would be lagging.

Great to see you back, Limstylz, and look forward to your lively reparte and feed back. Great to keep the thread going.

Thank you for the kind words, as I, like many others, are benefiting by this thread and this great system.

I partially agree with your false signals analysis. I have gotten good and fairly relible entries with the " This WEEK" column of the Orest, but I usually get out prematurely. THis has often caused me to cut out of trades prematurely, and scalp out 200 or so pips rather than going for the long ball trades of up towards 1000. I , like you keep a steely eye on the spread as well.

Your work with the spreadsheets seems to me approaches the market in a very stable and logical way.

Shakey

Ok, I sold the resistance point last night on G/J and made 741 Pips. I turned it around this morning and bought the basket and I am up over 400 at the minute. Waiting for a 4 hr candle here at Noon, EST.

Jim

Its looking like I am way more productive resetting the IA at quiet time or even right before we hit Long term Support or Resistance. I am more comfy when with the trend which is down right now so I will watch the buys like a hawk and pull profit to stay safe. I will then wait for the trending signal. The charts below show my S & R with Fib levels removed.

Jim

I have now read up to this page !

Don't worry, Limstylz, I don't intend to be a nuisance here by asking already answered questions !

I am both reading the posts one after the other (until I reach the # 2000 and some), and watching my 14 pairs. What I am trying to do is to grasp the logic behind the method. When I test a trading system, be it EA or manual, I like to "feel" it enough to steer it as if it was my own car or bike. For that matter I am a disciplined learner.

And thank you for your answer.

Hi everyone. Let me first start by saying thank you to Trader101 and everyone else who has contributed to developing this strategy. I am looking forward to mastering its use. Although the title is ''simple trading method'', i am not yet sure i have understood completely. Attached is my screenshot so hopefully if i have done something wrong someone may be able to mention it. Also, as far as opening positions is concerned, i am wondering if you could clarify. Whilst reading through the thread i saw it described many times in many ways but i still dont understand(forgive me i have adhd and find it hard learning certain things occasionally). I am using the original pairs.


1. GBPUSD
2. EURGBP
3. GBPCHF
4. CHFJPY
5. AUDJPY
6. EURJPY
7. USDCHF

8. CADJPY
9. AUDUSD
10. USDJPY
11. EURUSD
12. EURCHF
13. GBPJPY
14 USDCAD


So lets say for example, all the buy orders settle at the bottom and the sell orders settle at the top, i then wait for one of the buy orders to to move into the top of the list above the sell orders(for this example i will use GPBJPY). So once GJ has jumped up the list, i buy it? And if USDCHF was to drop down the list, that would also be a buy? Am i understanding this correctly? And vice versa if the buys settle at the bottom, and the sells settle at the top? Thank you in advance...

That looks about right a-game

Re-read the first 10 pages about 3 times. It will be clearer.

Thanks Jey. Yeh im re-reading the thread from start to finish again and forexflash quickguide is a big help as well. Some have described trading one pair and others have said trade all 14 in one direction? Then some posts state that certain pairs cannot be traded in the same direction? Its quite confusing. Also how often does this system produce signals?

hi ,
well its been a dificult week,not as profitable as last week but still managed some basket gains in this tight range market,buying at the lower end of range and selling towards the top,mainly using basket indies and lower time frames on orest to get in quick due to limited movment still it has empasized the importance of understanding market conditions and adapting accordingly i,m starting to really enjoy this method
regards william

Ok so i finished the thread for the second time now.....12 hours later haha.....My basket appears to have settled now however its 4.30am here so ill save my first trade for Monday. Looking forward to trading this system. And Julius, i added you on skype chatroom i hope you dont mind. Have a good weekend guys!

Hello Diceman,

Look for a better week coming up as the price has danced on the Daily UTL all last week. On the first chart you can see the Rising Wedge with all those tell tale bottom wicks. If we dont break this Daily UTL we will head back up to 163.00 area. This is my choice and I will be buying the group as soon as my IA tells me to go. The recent downtrend is about through but you never know. When we switch to the second chart, (4hR), Ironically we see a falling wedge which is the result of those bottom wicks on the Daily. Also one can make a case for the triple bottom there on the 4 Hr also. The top yellow line is the trigger to the 163.00 level. When this breaks, I will buy the basket and let her roll. Until then I will trade the basket as this wedge dictates. As for last week, I made over 3000 pips and if that is a bad week then I cant wait for a good one.

Jim

Yeah, Dice, I was playing catchup all week. After being up 750 by tuesday morning, ended up with 250 for the weekl. Mostly due to my own lack of discipline and arrogance.
(I relapse into bad habits, sometimes)


Got my mind right for next week though.

Shakey

Hey Shake, sorry I couldn't respond Thursday while I was driving to Louisville. Be here this week though.

Jim

uote=Beshakey;2979311]Yeah, Dice, I was playing catchup all week. After being up 750 by tuesday morning, ended up with 250 for the weekl. Mostly due to my own lack of discipline and arrogance.
(I relapse into bad habits, sometimes)


Got my mind right for next week though.

Shakey[/quote]

Hello Guys,

I think i should comments on some of the posts i read. First let me remind you that you are trading baskets and there are 14 pairs in that basket. Using a single chart be it GJ or EJ to represent these 14 pairs is not right. You may be luckly sometimes that the EJ moves like the basket at a certain time but it is not true MOST of the time that is the same when using GJ or any pair in particular.

Another reason why i tried to make my own basket indicators is because i am trying to avoid using any broker's approved indicators. In this thread I am avoiding using those indicators as much as possible. I read that some of you are still using those indicators in your basket analysis. Please avoid mentioning this in your post as they might give others the impression that I am promoting the use of this indicators in my system. I hate to say this but I AM NOT.

How you analyze your trade is up to you but i dont want it to mix in the basket trading. Sorry but i have to maintain the purity of this system and dont want any mixture of those conventional indicators and basket trading.

I hope you understand my protectiveness of this system and this thread as well.

Lastly, i would like to ask everyone to think before posting..Think if what you are going to post would contribute positively to the system. If you are only repeating what has already been said...STOP. This is already a very long thread and many are intimidated by its length already. You can help by not posting redundant and irrelevant opinion even advices, that is my role. If i found your post falling into this category I will request a clean up and your post maybe eliminated. Thanks

Julius

Hi guy,

as Julius mention, no additional/modification/alteration on T101 technique (Basket Trading System)

Please read & FULLY understand from page 1 until 142, as my study on this method, we make small group activity. Each one from our team try to figure out how this technique work. Please "FORMAT/ERASE your Mind" otherwise you may confuse with other technique.

No Candle, No Indicator & No EA (100% Naked) Please Follow the News.
Please remember that, we trade currency not a pairs!
This 14 pairs actually hedge each other.
You should know how this pair "Tight" each others!

At early stage we make slightly mistake, those pairs that reverse from the major trend we inverse it. In other words, let say 12 pairs show uptrend but another 2 pairs show downtrend.
what we did, we Buy those 12 pairs & Sell the 2 pairs. In Short term we may maximize the profit but in terms on long term, we "Open the brake"
Get any idea?

If you know the "theory of hedge" you may visual it clearly.

Another mistake that we make, by adding more pairs on this Basket technique, we are able to make 18pairs (base & quote balance) , but its just having fun to see the wave up & down.
After discuss with Julius then we know that it is TOTALLY wrong!

One of my team member said, we need to put Fibo & Trend Line etc....
just for the purpose of reversal signal detection, look guys you are deal with 14 major currency there not just instantly the Trend will change.
We need to make IA every early of the week. For the purpose of reference
as for me i copy & paste every hour or more to study the pattern of price change. It is so important that you should know which currency are dominant/not dominant on that particular time.


"Please understand the concept of hedge".
You may find the "secret of success" if you read this Forum from page 1 to 142.

I have one Indicator Account (IA) from 31st May 09 until now, >32,000 pips collected in one basket if you select Buy position. You may find which pair become Resistance, Support & Pivot as well.


Those trader want to grasp this technique, you must read this FF clearily & carefully. ( No Short Cut! )



To Julius, Sorry if my explanation not that good.

Malaysia Boleh!

Hi Guys,

Thanks to my group member Saifulsyn that post this matter before...This is my first post after all this time just stay outside observe and looking this thread... just few word I want to say about some of those guys out there... There is no Shortcut here and you have to learn the Basic to have better understanding on Price Action itself.

Julius have give us a lot`s of hints along this thread which is we are trades Currencies not Pair so all the indicator that provided by broker are Invalid here.

We have to do it all manually including setting the IA making orders etc.
So please dont go off track from this Simple Trading Method.

Memang Boleh!!!!!