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Indicators development for T101's not very simple method

  • #1,381
  • Apr 1, 2010 8:40am Apr 1, 2010 8:40am
Don, you sound very frustrated, don't be. Everyone is doing this when time allows. So it is with Orest.

I am the first few on FF who found Trader101's method, and I read all the way through, and two years flew. and I pick it up again now.

I also read through 2009 till now on this thread, i have an impression, don't be offended: you guys might have made it over-complicated

Trader101 earns tons of pips from the 1st day he posted his demo account IA set-up. back then, that's the only tool.

I quit this method back in 2008, because i have no time to wait by the PC. However, this method still seem valid to me. Now Orest's EA and T101_dashboard_zz inicator are sufficient for a user to do it more flexbily, no need to wait by the PC all the time. I also want to say that your backtest indicator, very advanced, could be very valuable to advanced users.

How to then?
my feeling is when across board you see Long(Strong),or Short(strong), you just do it, and it is not easy to StopOut. of course, this is not the original strategy. ultimately, this tool is a trend-identification system. i remember a fundamentally sound way to trade it:
Every week, set up the dashboard, wait till Monday U.S session, you then have a feeling about the market (the dashboard should tell by then).
then you trade the direction the dashboard suggests. if stopout, you wait for tuesday or reenter if the trend reversal is fierce.

As to Orest EA, he has tried to explain how to use it since Feb 01/2010. Search his posts since then. you'll see his instructions on how to here and there.


Quoting disbellj
No reason to continue to waste my time and even give input on improvements that could be made if nothing is gonna be changed and questions are not even gonna be answered.

Regards,

Don
  • #1,382
  • Apr 1, 2010 9:16am Apr 1, 2010 9:16am
to new reader , if you dont have time to read BTS from the beginning, just pay 199usd for this indicator , many pips will come !

indicator for lazy trader , currency meter v5 , just trade the currency jump out of the box,

http://i285.photobucket.com/albums/l...ket1april2.jpg
  • #1,383
  • Apr 1, 2010 9:48am Apr 1, 2010 9:48am
few minutes later

http://i285.photobucket.com/albums/l...t1april656.jpg
  • #1,384
  • Apr 1, 2010 10:02am Apr 1, 2010 10:02am
c'mon, banana, let's come back. Can you please teach us how you trade BTS?

if that currency meter is so magic, it will not be 199$. just these two days trendy......

Quoting banana9009
to new reader , if you dont have time to read BTS from the beginning, just pay 199usd for this indicator , many pips will come !

indicator for lazy trader , currency meter v5 , just trade the currency jump out of the box,
  • #1,385
  • Apr 1, 2010 10:03am Apr 1, 2010 10:03am
This forum isn't for promoting paid tools stop posting about that indicator.
  • #1,386
  • Apr 1, 2010 10:16am Apr 1, 2010 10:16am
Quote
This forum isn't for promoting paid tools stop posting about that indicator.

many newbie here lazy to read, and ready to burn their account when they try to test this EA (Orest 1.18) .

when i found a new - easy to use - easy gain pips - why can't i introduce to them to reduce their losing money ?

if dont have money to buy, pm me, i will send the indicators through your email.
  • #1,387
  • Apr 1, 2010 10:28am Apr 1, 2010 10:28am
Quote
c'mon, banana, let's come back. Can you please teach us how you trade BTS?

this is how i enter BUY - basket
[dont ask me where to find the indicators, and how to use them, just read from page to page at least 5 times, you will find the indicator, and some explaination around ]

http://i285.photobucket.com/albums/l...t1aprilhow.jpg
  • #1,388
  • Apr 1, 2010 10:29am Apr 1, 2010 10:29am
Quoting IamTHAT
Look at the swap in your account..That much is deducted from profit I think.
IamTHAT,

Thanks for pointing it out.
Wonder how I missed it.
And, of course, there's commission which I missed too.

Now they are pretty much within a few cents which can be explained by a possible variance in refresh timing.

Cheers.
  • #1,389
  • Apr 1, 2010 10:30am Apr 1, 2010 10:30am
charvo,

Thank you very much. That is basically what I do. If my Buys is above Sells profit in my BuysVsSells indicator, and above 0, I buyall. opposite for sellall. Simple. Waiting until Monday or Tuesday may keep you out of some unprofitable trades, but even with the "unprofitable" "small" trades, we still get profit at end of week. So I do have a method that I have automated, but yet not tweaked to make it work just like it should/I want it to. Problem is, with this entry method, you get to test it only a few times a week maybe, because that's the only times you enter (crossing 0 line).

But if Orest can tell Trend in his EA (Long Strong - which is what we basically described above, or Short Strong, which would be the opposite), then why make it a user input? Why not just say if Trend is Long Strong, only Buy. If Short Strong, only Sell.

Wouldn't that be less confusing than to specify a buy pair to watch in slot 8, when only allowed to sell? Maybe if you are trading tandem you may want to watch slot 8, but not the basket automatically trading all 14 pairs for you (that is, unless you do it at the start of the week, are an agressive trader, which will have Orest's EA and both of us get in at the same time (and to the person that says it doesn't, yes it does automatically place trades).

I guess I'll just concentrate on my own EA development instead of testing Orest's EA. But as far as getting over-complicated, the only thing I have went all-out on is the MM, and have given recommendations that would help Orest's EA. As far as the other rules used, I pretty much understand tandem, groups (although I look at groups differently than trader101 I think, from his picture posted concerning groups at another forum), and the basket trade rules. And I could use code from my indicators: the backtest indicator, BuysVsSells, BuyAll, or another one of the indicators I've updated for personal use, and make an EA for each set of rules. At this point, I don't feel like doing it, since the simplicity stated at the beginning of this post makes me not want to go that far in my coding of the EA. But basically I have all the code I need, just need to find time and inclination to want to put it together in multiple EAs.

Thanks again.

Regards,

Don

P.S. to other readers, we are at the beginning of a long-term uptrend is my belief. If this is so, just like my testing of Orest EA using banana's settings made nothing but a big loss for me this week, I advise against using banana's settings he posted unless the trend is strong short, not strong long like this week has been (and last week ended in long strong buy also). I guess I'm just saying be aware of the settings, and if anybody tests this on a real account without knowing what's going on with it, then if they lose money they shouldn't be surprised. I, for one, haven't lost any real money on testing Orest's EA - only demo money.

Quoting charvo
Don, you sound very frustrated, don't be....
  • #1,390
  • Apr 1, 2010 10:30am Apr 1, 2010 10:30am
Quoting banana9009
many newbie here lazy to read, and ready to burn their account when they try to test this EA (Orest 1.18) .

when i found a new - easy to use - easy gain pips - why can't i introduce to them to reduce their losing money ?

if dont have money to buy, pm me, i will send the indicators through your email.
This method is far from easy or simple... stop insulting everyone in this thread and the others who have been working to understand it. And no I don't want your indicators I want to understand the system fully not watch some @#$@# indicator mindlessly like some drone.
  • #1,391
  • Apr 1, 2010 10:34am Apr 1, 2010 10:34am
Can someone show me how to adj the columns apart
I have looked at the code for the x and y , but thier are so many of them
not sure which ones to move.
Attached Image (click to enlarge)
Click to Enlarge Name: t101 v1.18.gif Size: 68 KB
  • #1,392
  • Apr 1, 2010 11:14am Apr 1, 2010 11:14am
Quoting Deusomega
This method is far from easy or simple... stop insulting everyone in this thread and the others who have been working to understand it. And no I don't want your indicators I want to understand the system fully not watch some @#$@# indicator mindlessly like some drone.
And yeah followup on what I said... I'm not trying to be an @SS but really that indicator won't help newbies at all. Indicators are only worthwhile when you understand wtf they are indicating . I posted a while back but got busy with school and didn't follow through. I have some time now so I am going to take a serious look at this method.

My suggestion to everyone else if they are still struggling is to go through the simplicity thread[s] both the first one and signals. Before going through them pick up smjones document explaining the system. Then after reading this a few times for an overview go through the threads and filter the posts by searching only for trader101 posts and smjones posts. Personally already smjones has helped me make a lot of sense of this system.

I don't really get smjones basketbars though... they don't seem that super predictive like he seems to imply.

My next suggestion is to forget all these indicators and just stick with the spreadsheet(what I'm going to do-faster updates etc) or stick with IA. But ignore the rest for at least a while until you truly understand the basic system and what the reasoning is behind the pairs chosen and later why they "settle" and then ponder on what the spreadsheet is telling you about each pair when they move up or down. Then ask yourself what the spreadsheet is telling you about the base currency and quote currency when they move up or down. Then think about the overall picture of each individual currency related to each other. Then think again about what trades are suggested and why these trades are suggested.
  • #1,393
  • Apr 1, 2010 11:16am Apr 1, 2010 11:16am
geez, what a ugly chart.

you first dump your edited version, re-download latest 1.18.

then edit it in MetaEditor, search for "font", then change font size to bigger or smaller to your like.

turn all "show buy/sell directions" to false (it turns off those arrows and ADX values), so that you have some spaces between columns.

Quoting toddanderson
Can someone show me how to adj the columns apart
I have looked at the code for the x and y , but thier are so many of them
not sure which ones to move.
  • #1,394
  • Apr 1, 2010 11:18am Apr 1, 2010 11:18am
This is very COOL. Thanks, I appreciate it! I guess you are only entering during Europe or U.S. active hours? it feels like tossing a coin, if i entered during Asian session.

Quoting banana9009
this is how i enter BUY - basket
[dont ask me where to find the indicators, and how to use them, just read from page to page at least 5 times, you will find the indicator, and some explaination around ]
  • #1,395
  • Apr 1, 2010 11:23am Apr 1, 2010 11:23am
very well said, let's go side by side,

be gentle to Banana too, his posts are in fact very enlightening, if you compare his setup/trades with your understanding of this system. we really need his successful experiences.

Quoting Deusomega
My next suggestion is to forget all these indicators and just stick with the spreadsheet(what I'm going to do-faster updates etc) or stick with IA. ......Then think about the overall picture of each individual currency related to each other. Then think again about what trades are suggested and why these trades are suggested.
  • #1,396
  • Apr 1, 2010 11:40am Apr 1, 2010 11:40am
Thanks banana. That really simplifies it! Will test ride this the coming week. Btw, any of the EA Warlords in this forum writing an EA on this ? Seems programmable...

Quoting banana9009
this is how i enter BUY - basket
[dont ask me where to find the indicators, and how to use them, just read from page to page at least 5 times, you will find the indicator, and some explaination around ]

http://i285.photobucket.com/albums/l...t1aprilhow.jpg
  • #1,397
  • Apr 1, 2010 12:52pm Apr 1, 2010 12:52pm
Hi all wrt my complaints about orest ea earlier. i got to get it to run faster on my vps by turning "show buy/sell diection" off before attaching. I also followed some advice here by using 2 chats each for buy and sell respectively. I am trading micro lots so 2potect by 101 will not work buti dont know if the inbuilt account protection will wok.
Also i got it wrong when i said u have to move the "move me" tab for the auto trading to work.
I know a lot of pple have the same problem i had and culdnt speak up.
  • #1,398
  • Apr 1, 2010 1:03pm Apr 1, 2010 1:03pm
Quoting Deusomega
And yeah followup on what I said... I'm not trying to be an @SS but really that indicator won't help newbies at all. Indicators are only worthwhile when you understand wtf they are indicating . I posted a while back but got busy with school and didn't follow through. I have some time now so I am going to take a serious look at this method.

My suggestion to everyone else if they are still struggling is to go through the simplicity thread[s] both the first one and signals. Before going through them pick up smjones document explaining the system....
Deus,

I for one could not figure out how to use the spreadsheet or Orest's indicator. Maybe I'm just stupid or lazy. I'll try filtering for smjones and trader101, but I didn't find trader101's comments to be terribly enlightening - he knows how to trade this way but isn't good at sounding out the words for the rest of us.

What this system needs is for someone to do what Nanningbob did - highlight the important parts in a single post and keep it updated with links so newbies can get up to speed quickly and ask intelligent questions.

Reading 100s of pages of drivel in order to get a few nuggets is like digging through the kitty litter box looking for tootsie rolls. Sure you can find some, but it's hard to tell the good stuff from the crap when you don't know what to look for.

Plus, there are a number of good threads here - THV, Scoobydo EAs, Nanningbob, J16, DIBS - can we really expect someone to read every single one of these threads completely, take notes, and then pick the one that works best for them? It's daunting, and frankly it's why I haven't spent much time on most of them except to read the new posts and see if a system really works or was just an aberration.

I've taken the time to reply because I think trader101 really works since I can't figure out the entry conditions I've just taken random baskets with a 40 pip stoploss and have seen it work. I think it's worth spending some time reading and trying to figure it out, so hopefully folks like you who have some experience can put together a guide for this far flung system instead of requiring new people to read four huge threads and pick out which indicators to use.
  • #1,399
  • Apr 1, 2010 3:37pm Apr 1, 2010 3:37pm
Don, Orest's EA is coming from a long way. None had expected its nice form today. Back then, we didn't have tough programmer like you. One idea took months before being realised by coding. The point is, many information displayed doesn't really match the EA functions 100%.

say, one column shows Long(strong), if you think it this way: for THAT timeframe, it is up, Or, for the basket that entered for THAT column (either today/to-week/to-hour), it is up. However, when you know only one timeframe, you don't really just jump in trading. right? that's why all columns are useful.

Banana's set is problematic. The set one can only be directional, that is:
open_long = true;
open_short = false;

or
open_long = false;
open_short = true;

this implies that you have to observe the on-going trend first, and set up your trading direction accordingly.

these 2 or 3 days have been bullish, therefore, do this:
during U.S eastern time's night, you'll see green and red pairs are getting mixed on 5min/15min/1h/4h on T101_dashboard, then:
you either buy when all green on top AGAIN or sell when all green collapsing from top to bottom(red gathering on top). these observations may be easily made by watching T101_dashboard and Orest EA.

Finally, whose tool doesn't really matter. i know you are a terrific programmer, but my recommendation is spend the active market hours watching those existing indicators and EAs. This importance outweights programming a convenient tool, just my 2 cents, hoping you not wasting much time of yours.

Quoting disbellj
charvo,
But if Orest can tell Trend in his EA (Long Strong - which is what we basically described above, or Short Strong, which would be the opposite), then why make it a user input? Why not just say if Trend is Long Strong, only Buy. If Short Strong, only Sell.
  • #1,400
  • Apr 1, 2010 7:10pm Apr 1, 2010 7:10pm
Well, my whole take on this that it's not that anybody understands this method. most of us posting right now have read this and some other threads on this at least twice. the part that trips people up is TIMING. we don't know how to TIME the entries. Julius mentioned this multiple times and i realized that is the common problem with anything and everything related to this. smjones seems to me to have the best setup with his basketbars, an IA (or spreadsheet or dashboard. whatever you like they all do they exact same thing) and the basketindicator. if you use it like that and watch it, you see what i mean. you'll just have to go and read what he said but banana9009 seems to have found one way to time entries.

do that and you'll have some great success!
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