Indicators development for T101's not very simple method

But is it true that a basket chart behaves identically to a single pair
What I'm asking is have a basket chart true support and resistance levels?

yes the chart is made to look like one pair so yes you could draw all those lines if you need to look at those things. a candle is a candle no matter what type of chart it is. just depends on what market you're looking at. the moves dont look big but they are big

I now that the moves are big that's way the RR can be really big, have someone tried to find support or resistance levels on those charts and then compare them with the indicators and EA that you all are testing.
I ask because I find this interesting.
And thanks for replies

i am pretty sure they have but it will be your own personal study because not everyone uses them. If they do they do not use them the same but you will see things that most traders will not see at all. i guess just learn a regular method of entry and apply it to basket charts.

ok thanks
I gonna try to study this and exactly if i can see a developing of a level because I now the pairs that are building this basket chart,prehaps I gonna need an indicator (I'm not a programer) for default pairs because 14 pairs is lot to chek,the easiest way is to start with 2 pairs and then add more,
Sorry for my bad english

On my BuysVsSells indicator, you'll see most weeks will either have one or two big "run ups" where SellAll or BuyAll line will "run up" over 1000 pips, and back down to 0. Now the week start 0 line is support/resistance built in. And then there are one or more support resistance "way above" the 0 line. Of course if it was always a certain amount, then we would always know what areas to avoid trading in, and we could always grab the "middle" of the "run up" between support/resistance(s).

Last week, Buys went above 0 showing trend was LONG STRONG, did a small run up of $447 (at approx. $1/pip), then went back down to 0 (so another 447 pips down against trend too if someone knew how to take it). At that time, Sells crossed 0 and showed trend was SHORT STRONG. SellAll did a run up of $2657 (approx. 2657 pips at $1/pip). Then came back down to $683 (so could have went against trend and bought when SellAll coming back down towards 0 and 2657-683=1974 more pips, then went up to 1291, so 1291-683=608 more pips, then down to 0, so 1291 more pips, and there price ranged around the 0 support/resistance.

So if just trading with trend, there was 447 + 2657 = 3104 pips approx. last week. This is what my EA is aiming to get, but if ranging doesn't kill it, then profit-locking and then getting in at end of that run up for another trade, and then having 560 pips stoploss gives it back at end of week. If that doesn't do it, then something mysterious happens so that the EA or MetaTrader or VPS shuts down, and when it came back up this last week, it lost TradeNumber, LastBuysHigh, and LastSellsHigh, so that these variables started over again when MT4s started again in middle of week, and new trades were taken that would not have been taken had the EA kept the LastBuyAllHigh and LastSellAllHigh values, because no new highs were being made, and so of course these trades lost.

OR you can try to not be so simplistic as I am, and try to ride from major swing to major swing, which would be up from 0 and back down to 0, but no trades in between. In this scenario, you'd get double the pips as when going just with trend, so that would be about 447 + 447 + 2657 + 2657 = 6208 pips approx. that could have been had with this scenario.

ONE LAST scenario is you could try and ride the ups and downs and not just ride top to bottom. In this case you could have had 447 + 447 + 2657 + 1974 + 608 + 1291 = 7424 pips approx., just about 1216 more pips catching every top and bottom on H1 chart vs just going with trend just picking major tops and bottoms, or trading both trend and counter-trend just picking major tops and bottoms.

So there's 3 scenarios using my one BuysVsSells indicator that I can see from last week. Now of course no one could actually have gotten all those pips, even if they had gotten in/out at those times because spread has to be paid. But other than that, that's just going by the numbers of last week, which one could see by using my BuysVsSells indi from February and using StartWeeksBack set to 1 (since we're talking about last week). I'm just trying to code the simplist scenario in my EA, using only price action/breakouts, to get consistent gains, and haven't gotten there yet. If I ever do, then it will slowly build my account since 1. I have a really small real account, and 2. Lots will be small for awhile since we're trading so many pairs we must split overall risk between them. After awhile though, this EA would be all I needed in my trading arsenal.

Bottom line is Buys went up and then back down to 0. Then Sells went up and back down to 0, although ranging a little between the high and 0 line and also ranging around the low of 0 line.

Now this happens week in and week out, and if we could pick tops and bottoms and not get whipsawed or get in at end of trend, then this is what was available.

As far as trades right now on my EA, I still haven't done any changes since I'm still sick and having a hard time. But the demo is 2.95% + -8.51% + 5.96% + 6.93% on 4 brokers I'm testing it on. So as can be seen, still not consistently profitable on all brokers, and by end of week, if I don't catch the weekly gains by market close, the indicator I have telling me these percentages resets itself, so by Sunday it's too late for me to check last week's gains.

Regards,

Don

thanks disbellj
I have uploaded your indi and I seeing this
first picture is from 1H



And the second one is from 15 min



I only want to now if I'm seeing this corect.
I do not want to attack anyone.

I'm still wondering what is the real difference between the basket and any other single pair, I mean why should we trade this "artificial pair" with other tools than any other pair?

I'm using basket offline charts, and the 14 basket pairs behave like any pair. OK, so why shouldn't we simply apply the same trading rules as with classical pairs?

Correct me if I'm wrong, the BuysVsSells indicator is nothing else than an indication of the evolution of the 14 basket pairs as a whole, so it's nearly the same as a 0 SMA.

Same is true with Samir indicator, which does not show us anything else than the evolution of the basket since the start of the day (or the week), which is basically a totally useless information... We never use such information when trading one single pair, because the fact that a pair is higher than Monday can in no way mean that it will continue to rise. Or this would mean that if EURUSD is rising, we should buy it, and if it's falling, we should sell it... as simple as that!

So I agree that the main advantage of the basket is that the moves of this "pair" are less erratic than those of one single pair, so it may be easier to trade, but why should this "pair" be traded with other methods?

Please note my question is IN NO WAY meant to discredit the method itself nor any tools that have been created to trade it, it's just meant to try to understand why should apply different methods for that particular pair, since I've been trading it for a few weeks now and I'm still trying to find a difference...

well, i like the basket chart. i think that the different stock market are related to the currency market. maybe someone more experienced can comment on this. but when the NIKKEI 225 openes today in the asian market, it opened down. guess what, the basket moved down 500 pips. then for the euro session there's the DAX and the FSTE 100. then of course for the U.S there's the s&p 500 and DJIA for the U.S session. that's all you really need to pay attention to. a while back gold was mentioned here as well. if it says any different, then just exit. takes a little getting used to but it does work well. you do need to use a way to enter. it is just everything you do is multiplied by 14

why you ask. when money flows into the stock markets then guess what? it's being taken out of the curency markets.

Do you mean you only enter based on stock market charts?

This is a totally new approach... could you please elaborate about your entries?

Thanks

the GBPJPY is not always a mover.

i found that out yesterday.

closed my baskettrade at +1783 pips.

then opened up a buybasket. although the GBPJPY was going into profit for me. the other pairs were still going down.

it didnt matter to much. closed the trade -50 pips. reverse to sellpairs after.

closed the baskettrade beginning this morning with +20 pips.

opened up a new basket trade again and now at this very moment i am +120 pips.

i use a different trading system though This is my own system. although without the kowledge of Don, Kos and a few others i would have never gotten that far.

the basic of my system is that i always stay in the market trusting my strategy.

can this strategy fail? yes ofcourse. by huge news events which causes these huge spikes, like last friday for example. truth to be told. firday it worked fo rme. but the week after it would have worked against me. so why take the risk?

however i am prepared for those now. i make sure i check www.forexfactory.com to see what news events are coming up.

do i see something red i check how much i am in the +. if it aint to much. i simple close the trade and wait out. if i am a lot into the + then i check what forecast in and check if i stay in the trade yes or no.

Mr JL,

I think that you do not understand what stands behind that basket method or any other basket method (like currency ring, mention above).

This is the special way of thinking. This method is a best indicator in the world, and what you have to do is ride on the trend. It is a very fast indicator, and if you ride on the trend as you protect your position, then at the bottom line you earn a lot of money.

Good luck!!

I understand very well the logic behind the T101 method, and I have read through various threads about it.

My question was not about the basket trading method itself, but about why we should use other entry and exit methods than with a classical pair. When I look at basket charts, I don't see any difference with a normal pair. OK, it has its own behavior, based on the fact that this special currency contains 14 different pairs, but in the end it can be handled like any other pair.

This is why I'm still trying to find any added value in the special tools created for this strategy. For example the Samir indicator is nothing else than the evolution of the basket since the beginning of the day or the week... which is not very meaningful in my opinion. I could have the same kind of indicator with a normal pair... but I would not see what I could do with it.

Mr. JL,

Samir indicator is just a visual way to decide when to open trades..., that's all. Thankes to Samir!!

But the method is NOT to OPEN 14 pairs but just 3-4 pairs (do the mathematical analisies). so your SL becomes just 120-160 pips and your margin is lower!!. Thankes to Julious!!

Good luck.

OK, but in this case I guess you're not talking about the same thing as this thread does, because as far as I know, all tools and EA's that have been developed here in this thread are for buying or sellnig the whole basket.

Anyway I agree with you about spread, it's one of the drawbacks of basket trading, as well as the time necessary to enter/exit (can take as long as 15 seconds!).

Hazel,

it is pretty easy to follow really.

all currency is news related.

check the CAD for example at this moment. it skyrocket towards anything else. and i am now in the +600 pips.

you need to understand news.

let me give you an example. at forexfactory.com you see forecast of the news. it shows also if if the news will be currency related.

to which currencies is CAD strongly related?

Canada is very strong related to England. the same way as Australia is to england.

JPY has ofcourse a very strong relationchip with USD.

now aint it logical that by positive news from canada, that when the cad is pounding all currencies. it will at least make sure that GBP will be stronger then yen for that period of time?

for me it does.

and since forecast was good. not to mention a well explained info by this guy
http://www.forexfactory.com/news.php?do=news&id=255018

i let my trade open. and it worked greatly so far.

in 4 minutes there is new info about Ivey PMI. forecast again good for currency.

however there is also GBP news. which could reverse it. intresting.

Hi guys, Im new on board for this GREAT trading method. Wanna say "Thank you" to anyone who share and develop this trading system, although I know people have different ways to trade t101. Im using kos' method for entry, and trailing stop for exit. 1000+pips last week and I only traded 4 pairs at that time. Now opening position last night and winning 850+pips so far......i'd like to close positions now coz its near afternoon(US) and usually JPY dosen't have a good move in the afternoon (please correct me if im wrong).

See the green circles in the pic for my entry....i usually didn't trade usdchf coz its confused me sometimes. At first it against the main trend, but sometimes it cooperates, like today.

Btw, I always add CADJPY in the basket to boost the profit, and today CADJPY is the biggest winner that even bringing bigger profit than GBPJPY. Didn't check any news before trading, just follow the price action.

Happy pips~

yes ive heard all of what youre saying from my friend. i will copy and paste what he researched from our skype conversation:

Our research in the ongoing development of VantagePoint since its introduction in 1991 indicates
that, if you want to analyze the value of the euro versus the U.S. dollar (EUR/USD), for instance,
you not only have to look at euro data but also at the data for these other related markets to find
hidden patterns and relationships that influence the EUR/USD relationship (see Figure 1):
• Australian dollar/U.S. dollar (AUD/USD)
• Australian dollar/Japanese yen (AUD/JPY)
• British pound
• Euro/Canadian dollar (EUR/CAD)
• Gold
• Nasdaq 100 Index
• British pound/Japanese yen (GBP/JPY)
• British pound/U.S. dollar (GBP/USD)
• Japanese yen
Figure

http://www.kathylien.com/site/forex-...jpy-and-stocks

http://ezinearticles.com/?The-Amazin...tes&id=2208292

My chart looks like Kos, but i took away the MACD and the SAMIR indicators and replaced them for a more reactive indicator and put it on basketcharts on the M30. it's the MTF version of semafors. i look at 3 different tf's so if all the Tf's don't print a number, it still has room to move . and it all goes on 1 chart. so i can take swing trades instead of hopping in and out and see a little better and put my stop at the last semafor. I loose. i get out. if i enter, then i just watch the different stock markets as they open and watch their direction just in case something crazy happens

Gollum,

Looks like you got the latest BuysVsSells I uploaded, which gives me the same values as the latest one I use that I have not uploaded (both will give same values now, although the one I uploaded shows correct on Sunday nights where the one I uploaded doesn't show correctly until Monday).

You must realize that although in your pic where you show Buys above 0, so trend is still Long Strong, that the Buys line starts heading down, so per Julius trend may be Long Strong, but reality is that shorts were taking over as you can see (buys going down and sells going up).

Regards,

Don


http://www.forexfactory.com/showpost.php?p=3789452