Indicators development for T101's not very simple method

@ trade4fun

When You have looked on the USDJPY charts you have seen that the price was on a support level and for mee this was the reason why USDJPY has made this move up the news not always tell the truth but the charts can't lie.
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My 2 cent

Hello all,

I want to open an old/new discusion about the basket's computing.

We have seen 2 points of views:

a) Computing a basket by PIPS (Juilus f.e.),
b) Computing a basket by USD (Samir).

What kind of way is the best?

well, julius always computes by dollars. that's why his trail stop is in dollars. different pairs have different dollar values. therefore making pips not as important. you can count them if it makes you feel better though! R:R is the bottom line

as far as the usd/jpy. well, the BOJ saw that the JPY was getting too powerful, so they interviened by buying up a lot of stock in bigger companies like toyota....etc. gotta keep those intrest rates low and not to overinflate them.

and speaking of toyota, the just got fined 65000.00 for alleged bribery from 49 car sells..... lemme see here..... 49 sells X 25000 average a sale, that's a LOT more than 65000.00... man i need to be a coporation LOL

Hazel,

you mention what i am sayin all along.


you see NEWS. news is what moves currencies and indexes. i agree with you that if USD index goes up USD currency goes down for example.

but ultimate all is moved by news. that is only what i meant.

nothing more, nothing less.

Thanks don
like this correct?

double totalifbuyingall=iCustom(NULL,0,"T101_BuysVsSells",Lots,StopLoss,UseIBFXPairs,Pair_suffix,UsePipCurrencyValue,ShowComments,StartWeeksBack,ReverseSells,ShowBuyAllLine,ShowSellAllLine,3,shift);
double totalifbuyingalla=iCustom(NULL,0,"T101_BuysVsSells",Lots,StopLoss,UseIBFXPairs,Pair_suffix,UsePipCurrencyValue,ShowComments,StartWeeksBack,ReverseSells,ShowBuyAllLine,ShowSellAllLine,3,shift+1);
double totalifsellingall=iCustom(NULL,0,"T101_BuysVsSells",Lots,StopLoss,UseIBFXPairs,Pair_suffix,UsePipCurrencyValue,ShowComments,StartWeeksBack,ReverseSells,ShowBuyAllLine,ShowSellAllLine,4,shift);
double totalifsellingalla=iCustom(NULL,0,"T101_BuysVsSells",Lots,StopLoss,UseIBFXPairs,Pair_suffix,UsePipCurrencyValue,ShowComments,StartWeeksBack,ReverseSells,ShowBuyAllLine,ShowSellAllLine,4,shift+1);

mas toro as well as everyone else,

That looks correct except I see spaces in the name of the custom indicator. to be exact, copy the name of the indicator in windows explorer and then paste the name.

Also, you would only use "shift" (or i or some other variable) when not talking about a specific bar. The way you have it is good for "looking through" an array of elements, like this:
for(shift=100;shift>=0;shift--) {

... the above for loop searches starting at the 100th bar back, keeps going until bar 0, subtracting one bar each loop to search if conditions are met. Like when I made an indicator to draw trendlines (long lost so don't ask for it), I searched through the last 100 bars for the nearest top and bottom Semafor 3's. Then I got the time of those Semafors when they stopped on the bar they stopped. By this for not only Semafor 3's but also Semafor 1 and 2's, I could tell the trend easier. Now I can see price movement, so it's easier to trade. higher highs, higher lows. both concerning bars and also "swings". I say trading is 99% emotional and 1% technical. I am working on the emotional part which keeps me from doing at times what I know to be right when trading.

What you want though is not shift if you are wanting to set an alert. for buy and sell conditions, alerts, etc., you must define a specific bar, such as 0 (this bar) or 1 (last bar).

Also, this week my EA on demo has lost 29% because of not being able to get to profit-locking even when getting in as soon as buys or sells crosses 0 (as soon as the trend becomes strong according to Julius). So please everyone, I am not giving my EA away. If you want to lose at T101, find another way.

For multiple reasons, I am going to concentrate on single-pair EAs. So the only thing I can leave with you all is that I never made a T101 EA by Julius' rules. If someone who makes money with T101, and ONLY someone who makes money consistently, wants to contact me, I might be willing when I have time to code an EA. Otherwise, I do not consider Julius really wanting people to know what the hell he was talking about. If he did, he would respond and give me his rules plain and clear if they still work. Everything else that's been done is others like myself using technical analysis to try and trade 14 pairs. As with one pair so the same goes for 14 pairs. Range vs trend and how to decipher between them, and how to trade either or both. Maybe try bollinger bands on an offline chart to spot a breakout and trend, and stay away from ranges unless you have a way to trade it.

Regards,

Don

Here is a pic of a manual trade I made on the verticle red line.

I waited until the bar had closed above the trend line...

Here is a pic of what happened...

I bought another basket when the price came down and bounced off the trendline

here is my results...

Hi Don, My EA (a basket of 14 pairs) made profit of 12% - this week (not trading on friday).

The main rulles are of Juilues.

Good luck

crossy,

That's great!

Mind telling us the rules you implemented, in your own words?

That might help me understand better.

Or at least tell me if my rules I list here are correct?

You said you made 12% this week on 14 pair basket.

Rules for buy entry:
1. First, basket must "settle" where all sells are at top, and all buys are at bottom.
2. Second, buy pair must reach slot 1 AND/OR sell pair must reach slot 8. Please specify if this is AND or OR (do both need met, or just one?)
Rules for buy exit:
When basket "settles" with all buy pairs at top and all sell pairs at bottom? I've seen him say this, but it seems that buys may still be profiting and I wonder if this is correct?

Rules for sell entry:
1. First, basket must "settle" where all buys are at top, and all sells are at bottom.
2. Second, sell pair must reach slot 1 AND/OR buy pair must reach slot 8. Please specify if this is AND or OR (do both need met, or just one?)
Rules for sell exit:
When basket "settles" with all sell pairs at top and all buy pairs at bottom? I've seen him say this, but it seems that sells may still be profiting and I wonder if this is correct?

Thank you for clarifying the rules for me.

Regards,

Don

Hey all,

I've been trading the BTS method for a while now and I am up 10% on my account.

I have been using Kosmo's entry strategy but have been struggling with my exits.

As my stoploss so far I have bee using the standard 2% risk with every trade, I think I can accept a little more risk, what do you all think about 10%? I know that Julius accepted about 560 or so but he had a much larger account than me.

Since profit lock (Profit Protect) is no longer available I was wondering what you all do for exiting.

Also, do any of you still stream quotes to excel? I would love to do it to grasp the fundamentals but as of now only have tallmans model and have had trouble implementing it.

Thank you for any responses, any input is truly appreciated. I have been studying this method for over a year now and have had 3 years of successful trading experience (around 15% year on year) so I believe I'm ready to get it going!

From my readings of Kosomolate's posts...

The exit is when the yellow line crosses back into the MACD histogram.

Kosomo' mentioned that he had only lost on two trades using his method.

That's my understanding...but of course I've only been in this thread a few days...and do stand to be corrected.

hi Tex.

I notice you use GBPJPY so I'd like to add that sometimes GBPJPY won't match basket bar.

Dear Don,

As I said before you should look at that startegy (14 pairs list) from the mathematical view, without any other indicator.

You know this basket - the universal basket - is the best indicator for: EURJPY, GBPJPY, AUDJPY.

Then you will decrease your risk very much, and your enteries signals will be very clear and simple.

And do not forget - MM, of course.

Good luck.

you can purchase the profit protect from julius,s website ,i think its 5 or 10 dollars.but personally i prefer to let the trades breath more.if you were trading a single pair you wouldnt have your stops so close.i know julius would renter ,but i dont see the point ,if you are confident to go straight back in ,then i would have stayed in without repaying the spread.
having said that its very important to get your stops to break even,then i would use the profit protect when the basket reaches 800 pips plus.

regarding the excell quotes ,i use excell on a 52 week version to see long term change.and entered 2 long baskets from this 6 weeks ago on a demo account which had a max drawdown of 4 thousand pips,sounds alot but considering this is along term based trade with a potential of 20,000 pips + its reasonable, i wanted to post the trades but the account has been disabled ,i think alpari give 3 months on demos but not sure,maybe sombody can clarify that.
i believe they would be showing a profit of aprox 4 or 5000 now,but thats not really the piont its just one of the studies im working on with this method,i didnt have the offline charts then ,if i did my entries along with the excell indicating a move,one could have got a far better entrie.
im trying to trade this as i would a single pair or should i say manage my trades that way.
the long move yesterday was identical to last week,the gu broke its resistence the eurodoller was flying ,both then stalled a little almost on hold waiting for the yen to sell off.that happened asian session Thursday overnight uk time.so london open i sold the yen on all pairs except doller cross,also longed gu,eu,didnt buy the whole basket as i was trading my other account which is live and not set up to trade baskets.by midday i decided to close all for an overall profit ,but i closed as the move didnt look like happening with it being friday ect,ect.how wrong i was.an hour later of they went,but at least the theory was there.at this moment im still prefer to trade the ranges as bizar as that sounds.i think if you can manage the drawdowns the longer term prospective holds some wieght.

regards
william

Yes, I've been meaning to create the offline basket chart set up.

To be sure, we cant just rely on GJ leading this parade all the time.

...and for sure, eventually the Big Money will find ways to get basket traders who rely on GJ, to end up on the wrong side of a trade...

Hi TopPot

I only use Basket trading on Forex and use Steve Hopwoods Basket Profit Protect EA to look after my positions.

I am also attaching my version of T101 xls. You will have to change the name in the macro to your Broker and do a few other mods

Regards
George

Thank you all for your responses.

Any more insight on exit strategies?

For my SELL basket I use; UJ, EU, GU, AU, EG, EJ, GJ, EChf, ChfJ, AJ and NZU...and I buy; UChf and GChf

For my BUY basket I use; UJ, GU, UChf, AU, EJ, GJ, EChf, ChfJ, GChf, AJ and NZU...and I sell; EU and EG

That`s only 13 currency pair baskets.
Not sure if they are the best sets...


What is the main consensus on BUY/SELL basket compositions??