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Indicators development for T101's not very simple method

  • #2,881
  • Aug 18, 2010 4:46am Aug 18, 2010 4:46am
hi hazel,i see you are trading the original pairs,i also prefer these pairs as i have always traded these pairs and find the movements of usd;cad,and usd chf ,help in confirming reversals.
i would like to add the samir original pairs to my set up,can the universal pairs indi be easily edited to original pairs or can you post yours

many thanks
william
  • #2,882
  • Aug 18, 2010 12:39pm Aug 18, 2010 12:39pm
Quoting diceman555
hi hazel,i see you are trading the original pairs,i also prefer these pairs as i have always traded these pairs and find the movements of usd;cad,and usd chf ,help in confirming reversals.
i would like to add the samir original pairs to my set up,can the universal pairs indi be easily edited to original pairs or can you post yours

many thanks
william

I just went to julius' thread and I edited it very easily. i don't even know how to code but it took about 5 minutes to do.

the original pairs were set up in a way that it has imperfect hedge. notice that the CAD is all on one side. it was done purposely and when you trade the USDXXX and XXXGBP opposite of the GBPXXX, XXXUSD and XXXJPY, the basket does make reversals look better. makes the picture make more sense. if it isnt moving like that, then you know it's a sideways market like this week has been. you may have gotten 500 pips at the most...maybe if you used the PL EA
  • #2,883
  • Aug 18, 2010 2:51pm Aug 18, 2010 2:51pm
Thanks ill try to edit accordingly ,

i managed 2 trades today somewhat scalping,the buy this morning followed by a sell,very risky but experimenting now that i have offline basket charts working this has opened a new door for me,ive been following this method for about 12 months,but these offline charts are invaluable.

the pips gained to day aprox 300 but not really the issue at present ,but as you said in an earlier post the offline charts show us the complete move although that may be in a range of 300 or so pips,im adapting what i do on my scalping method for gbp usd,with the offline basket .
i will let you know how and if i find somthing

regards
william
  • #2,884
  • Aug 18, 2010 5:31pm Aug 18, 2010 5:31pm
Quoting hazelj80
I just went to julius' thread and I edited it very easily. i don't even know how to code but it took about 5 minutes to do.

the original pairs were set up in a way that it has imperfect hedge. notice that the CAD is all on one side. it was done purposely and when you trade the USDXXX and XXXGBP opposite of the GBPXXX, XXXUSD and XXXJPY, the basket does make reversals look better. makes the picture make more sense. if it isnt moving like that, then you know it's a sideways market like this week has been. you may have gotten 500 pips at the most...maybe...
Thats a great observation. I was going to say I haven't seen really any setups this week at all thus far as everything is pretty well mixed. But then I pull up GY (one of the leading pairs as indicated by Kos in this thread) and its just a consolidated mess and if thats the case then everything else is probably a mess as well and then the P/L IA is working as it should, signaling indecision.

If anyone does get a signal this week i'd much appreciate them taking a screenshot and posting it so I can see what (if anything) i'm missing.

Cheers!
  • #2,885
  • Aug 19, 2010 4:38am Aug 19, 2010 4:38am
Quoting diceman555
hi hazel,i see you are trading the original pairs,i also prefer these pairs as i have always traded these pairs and find the movements of usd;cad,and usd chf ,help in confirming reversals.
i would like to add the samir original pairs to my set up,can the universal pairs indi be easily edited to original pairs or can you post yours

many thanks
william
Mathematically, it is better to trade woth the original pairs, without any connection with your remark!
  • #2,886
  • Aug 19, 2010 4:59am Aug 19, 2010 4:59am
hi,not sure on the mathematics,its just ive been watching original pairs along time and understand them better.
what im trying to do is find a way to trade the periods when the market is constipated and irregular,when it behaving, kos and many others have great methods which i trade with.
today i managed 200 pips there abouts from a scalp ,im looking for some consistency with this .
im looking at the basket as a single currency and am not bothered were the movements come from within the basket whilst its in a chaotic state.
i may be very wrong but at the moment im pleased with the movements and how it behaves
regards
william
  • #2,887
  • Edited 5:43am Aug 19, 2010 5:16am | Edited 5:43am
Quoting diceman555
today i managed 200 pips there abouts from a scalp
Hi,

I'm watching the basket closely these days, and I wonder which entry points (method) you have used today, because using Kos method, I have lost a lot of pips today, due to the good news for GBP this morning (I'm GMT+2).

Could you please share your entry points and method for this morning?

Thanks!
  • #2,888
  • Edited 9:15am Aug 19, 2010 9:09am | Edited 9:15am
I'm watching the basket closely these days, and I wonder which entry points (method) you have used today, because using Kos method, I have lost a lot of pips today, due to the good news for GBP this morning (I'm GMT+2).

hi,jl83,as i said in my earlier post i use kos method when market is all in sync,but when it becomes constipated,or ranging what ever word we choose to use,the pairs act differently,so during these periods we need to change our approach or as many do sit out and wait.
i suspect you was buying the basket this morning ,and although you may have got all the signs to do so the market is not in sync if you look at an offline chart on the hour and 4 hour you can see its been trading between its current range,i think since last wends or there a bouts,so unless it breaks through i would not trade short.i bought the basket long at its lower point in range yesterday and today for a total of around 500 pips.
im experimenting with trading the basket during these chaotic ranges .im trading the basket as i would trade my gbp usd scalp method during range.i believe that there are some great opportunities during these periods as my win ratio on gbp is averaging 70 to 80 %,but this is early days to try on basket,there is also the mm side to evaluate the losses to win regards r to reward,
[IMG]file:///C:/Users/Sony/Pictures/OLYMPUS%20Master%202/tt101%202.gif[/IMG]
  • #2,889
  • Aug 19, 2010 9:12am Aug 19, 2010 9:12am
sorry i was trying to post a snap shot but not very good with pcs
regards
william
  • #2,890
  • Aug 19, 2010 1:28pm Aug 19, 2010 1:28pm
Thanks diceman555.

Yes I confirm I have bought the basket when the H1 candle closed above the TrendMagic. And few minutes later, it went down and my SL was hit (560 pips).

I understand what you say, but if you consider the market is ranging, at a given time the breakout will happen... but you will not have a warning until it's there, so you will probably not enter, or you will enter too late, no ? For example, this morning could have been the breakout you were waiting for, and by not entering you would have lost a good opportunity, no ?

Also, could you please tell me how you qualify a range (in connection with this method of course). In other words, what level (up or down) would mean a breakout for you ?

(I also use the offline charts with the basket)

Thanks
  • #2,891
  • Edited 3:27pm Aug 19, 2010 3:26pm | Edited 3:27pm
I understand what you say, but if you consider the market is ranging, at a given time the breakout will happen... but you will not have a warning until it's there, so you will probably not enter, or you will enter too late, no ? For example, this morning could have been the breakout you were waiting for, and by not entering you would have lost a good opportunity, no ?

hi j,firstly let me point out i am experimenting here,i traded long at 9.45 when the bskt was at the bottom of its present range,exited at the congestion area ,as this is the point it can come straight back at you,considering we are trading against the trend.this gave 200 pips, if you were shorting from the top of the range you would then trade straight into the break point and thats fine if it goes great, if not you exit with profit,my point is i would not enter short at the bottom of its range with the signals being used as these are the bskts that take your profits.
as you can see it did break today.and not clearly on the gbp,jpy but clearly visible on the bskt charts.so yes i miss some breaks but generally the price lets you in when momentum stalls and gathers pace again.
in a ideal world you would be in the trade from the top of the range and riding straight into the break.as i say im more interested in the congestion and range areas as these areas take your profits. and if we can get that area to work we would have cracked it.many people here have mastered entry for a flowing trendy market, and i thank those for all the work and help.
regards
william
  • #2,892
  • Aug 19, 2010 4:40pm Aug 19, 2010 4:40pm
hi jl83,this is what i was trying to explain to you.if you look at my charts you can see what i mean regards to the opportunities im trying to work with.
regards
william
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  • #2,893
  • Aug 20, 2010 3:26am Aug 20, 2010 3:26am
Thanks diceman!

What do you mean with "congestion area"? Is it the top of the range, or the middle of the range ? (at which level did you take your profit when you entered at9:45?)

Other question, did you enter the breakout yesterday, and if so at which level (which was the signal you used to say OK, this is the right moment) ?

And finally, the indicator you use (with all those red and green colors) seem to indicate the range periods isn't it? Would you mind sharing this one?

Thanks a lot!

JL
  • #2,894
  • Edited 4:59am Aug 20, 2010 4:57am | Edited 4:59am
What do you mean with "congestion area"? Is it the top of the range, or the middle of the range ? (at which level did you take your profit when you entered at9:45?)

the congestion area for me was around 1530 area,if you look at the 5 min chart you can see the what i mean,i actually entered this late but the price didn't hesitate at the 1530 level as you see it went straight to top of range. so that was were i took my profits.

Other question, did you enter the breakout yesterday, and if so at which level (which was the signal you used to say OK, this is the right moment) ?


i was not in front of the screen ,but the opportunity was there as you see 1530 was held then it closed below trendmagic around that area so to trade short with the trend was there ,but easy to say in hindsight .we had no idea it would break on that move.a safer trade would have been from top of 15 min range because you would have accumulated the + pips to test that break area. and exit in profit if it held.on a single currency pair this is much easier to follow, but we have 14 pairs here ,thats why this is very experimental and probably the wrong thread to be discussing it.u can pm me,the indi is for visual only so i can see these areas and on my other method i trade price only,but not poss with bskt or at least thats what i think ,but i will continue to study the patterns
regards william ps, the indi i picked up on another thread somtime ago ,i have no idea on policies regarding posting other peoples indis
  • #2,895
  • Aug 20, 2010 5:31am Aug 20, 2010 5:31am
Thanks diceman, just tried to PM you but didn't have an option to do so, so I used the email option.

Regarding BTS, I'm still wondering what difference there can be between trading the basket and trading one single pair, as we use the same types of indicators and methods. Now that we can use offline charts, the similarity of the 2 approaches is even higher!

For example, if we consider that the basket behaves almost the same as the GBPJPY pair (which is true), and some (including Kos) even use indicators on this pair instead of using them on the offline basket charts, what is the difference then, with simply trading GBPJPY ???

We would save a lot of pips spread, and also buying or selling would happen much more quickly (buying/selling the whole basket requires at least 10 seconds). Not to mention that the basket always contains some pairs which do not behave as we would like them to, so the profit would be even higher with GBPJPY... And finally we could use smaller lots, thus smaller S/L too.

Am I right... or did I miss something... ?

JL
  • #2,896
  • Aug 20, 2010 6:49am Aug 20, 2010 6:49am

Hai daedalus can u post this indicator

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Peace And Quite Is Utterly Malapropos Of My Departure . . .
  • #2,897
  • Aug 20, 2010 6:51am Aug 20, 2010 6:51am
hi jl83,

my take on this is ,excuse my simplistic analogy,if you had million pounds spare ,and and decided to buy properties so as to live of your rentals would you bye 2 half a million pound houses or would you buy 10 small houses,bearing in mind that should one of the half a million pound homes remain empty for a few months your income has halved,and your prospective tenants are limited.were 10 houses on lower rentals with a bigger no of tenants available.you could have 3 empty and still have a greater income.as they say i guess we are trying to spread the risk,
im also in the camp that doesn't agree on the gbp,gpy always being the leader,but will agree it is more often than not
regards
william
  • #2,898
  • Aug 20, 2010 7:58am Aug 20, 2010 7:58am
Agree with you... but... before offline charts became available (BTW thanks zznbrm), Kos has been trading by watching exclusively the indicators on GBPJPY. Maybe he's still doing so, and he seems to have great success doing so.

So I agree with the principle, but there are also some disadvantages trading the basket (those I have just indicated). If I were to trade only GBPJPY, I think I would trade nearly the same way... but with much less spread, and also much less risk (let's say 0.5 or 1 lot, but the S/L would not be 560 pips !!!)

BTW, do you consider the current evolution of the basket (in the last few minutes) as a breakout ? (at least on lower TFs) Or not ?

Thanks
  • #2,899
  • Aug 20, 2010 8:37am Aug 20, 2010 8:37am
hi j,yes i do for those who traded from kos method,should be 2000 pips positive,many opportunities for re entry,once that level was broke it was the continuation of the short trend
the rewards are huge and many here have mastered there entries,i think patience is the essence.

im interested in the flat periods (ranges)because this is were many give there gains back.

regards
william
  • #2,900
  • Aug 21, 2010 12:48pm Aug 21, 2010 12:48pm
Quoting diceman555
hi,not sure on the mathematics,its just ive been watching original pairs along time and understand them better.
what im trying to do is find a way to trade the periods when the market is constipated and irregular,when it behaving, kos and many others have great methods which i trade with.
today i managed 200 pips there abouts from a scalp ,im looking for some consistency with this .
im looking at the basket as a single currency and am not bothered were the movements come from within the basket whilst its in a chaotic state.
i may be very wrong but...
I think you correct. The table of the moving prices within the basket is the quickest indecator.

The only way to trade is by a good EA - not spending time in the front of the screen...
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