Brijons advanced traders multi-currency strategies

Since EUR, JPY, USD are reserve currencies they should want to be in balance. No country wants to much exposure to one currency. When you get a cross over of the UJ and EU and they become to out of balance you can simply Sell the pair that is to high and buy the UJ when it is to low. When they cross take your profit. They should both be in profit at that time. There are many additional currencies that this works well. Just apply your whatif's and you will see many desirable trades. Remember to start small and cost average your positions until both are in profit. This is a business and you must use business mentality to balance your trades. Be sure to watch Brians multi currency videos to see how he balances his trades against the JPY and USD. Once you see what he is doing you should be able to with a little practice have all net positive trades. Thank You all for sharing as we will all benefit. Remember there is no wrong or wright way to trade it is all money management.

God Bless,

World Freedom

Hello all,

I am not a programmer. I am hoping there is someone on here who could program the overlay indicator to show the pair and current price that the color line represents. I have attached an snap shot for an example. One more item a red or green box around the pair for either red or green to match the hedge dash board. Thanks in advance. This will allow us to see what currencies within a basket to take in what direction weather we should be looking at divergence, convergence, or all in the same direction.


Thanks and God Bless

World freedom

there are a Few of these indicaters but i left them back in adelaide
hanover did a very good one showing in time frames the currencys you could modify these to your currencys very easy

i think it was on ff thread ages ago

used a lot of memory

but there are many based on the overlay chart

but used as indicaters

problem is they are using lots of memory

as you know williams indicater traks relative strengh of the currencys
so its why i wanted people to watch my whatif

basicaly the 20 80 and 50 using the usdjpy and curencys sizzor action

as i have been using this with brians index tds and dollar average very
succesfuly the excell shoWs this for me in a very clear way the whole picture far better

most relative strength indicaters above 3 or 4 currencys the lines on mt4
for me become a spiders web

look at my whatif and see its quite clear

one can do it for a group of 8 pr 2 easy on excell

just its my personal preference

im sure in mt4 there are so many like hanovers

at home i have 3 that ive used over the years

thank you for your great input

God bless from BRIAN

It is based on relative strength eg you can alter currencys in
inputs to max 8 currencys ect

so its a relative easy job for a programer to increase the number using these to increase currencys to 14

most of these are just based on relative strengths of currencys

here are the ones maybe some one can modify these to input more currencys

from brian

See attached screensnap shot its easy to do go to brians index delete one currency add in usdjpy ect from brian

Hi Everyone, thanks for all who are sharing here... it's an amazing strategy. After reading the thread 3 times I am finally starting to understand and look forward to practising on demo on Monday. But not before re-reading the thread again!

Could I ask a quick question now please. I hope someone can be kind and answer this --

When you have a balanced basket. eg. 7 buys 7 sells on, and you can add a trade in the direction of the hedge trend (eg. long) we add position(s) ideally in the strongest trending currency ... Brijon's videos are really clear about this which is great.

When would you take profit on the additional trades and return to your balanced basket?

Instictively I would say hold the trade while the Buy Volume > Sell Volume on your additional pair while also the Hedge Trend is also long.

If the Hedge Trend switches direction your unbalanced basket becomes a real liability as you're bias in the wrong direction.

Could anyone offer any insight? Thank you.

Hi

Consider a TP when your trade returns to the Bosun line or the top/bottom yellow square line, depending on whether you are in a Buy or Sell trade.

Paul

Brijon, Im having som difficulties with the OverLayChartLine (http://www.forexfactory.com/attachment.php?attachmentid=738458&d=1310256854) indicator,
I like to zoom out so I can see a more bigger view of the two currencys,
and to see where they are in relation to eachother.
the problem is, if I zoom out, it change distance to the other pair and Im getting secound thoughts because I don't know which one is correct? the zoom out one or the not zoom out one? to further explain it, if I first apply the indicator to the chart I may see there is a crossing of the two pairs, and then if I zoom out, there is no crossing? then I wonder wich one is right? do you think there is any way to fix so it stay is sync with the other pair and don't change distance to eachother if we zoom out?
or if someone with programing skills could take a look at it?
it would be very good. thanks

HI Everyone --

Today is Day 1 of trying to test our this intriguing strategy for me...

I've been trying to set up my charts and downloaded the indicators however, watching the 'How to setup offline charts' video Brian applies some templates, eg. #best -- does anyone know where I can find these template files?

http://www.youtube.com/watch?v=yrZER15cIy4&feature=player_embedded#at=72 )

I was also wondering where / how to set up the Hedge & Basket charts.

I'm attaching the indicators described in the video above to EURJPY... but then things become murky.

Thanks a million!
Ryan

Ryan

Open up EURJPY 15 min

Add from custom indicators "basket core5"
Add again basket core5 and change period multiplier to 4
Add again basket core 5 and change period multiplier to 8

You should now have 3 basket core 5 indicators in the indicator list.

Now add combo brian from custom indicators.
Now add combo brian again and change period multiplier to 4
Now add combo brian again and change period multiplier to 8

Now add from custom indicator T101_indypricehistory_v3-dnk

Now go to file, open offline and double click on basket H1 and then add best or best bosuns template. Voila.

Then do the same for basket H1 or whichever time frame your interested in then add template.

hope this helps.

M.

Ryan

Templates that might help you.

M.

Wow... Thank you Moody. You are an amazing help... (sorry to clutter the thread with questions) ... almost done. For some reason I cant apply to .tpl file... I have build 402 of MT4 with IBFX....

Any idea why it wouldnt accept the template? Also I couldnt track down the T101_indypricehistory_v3-dnk indicator you mentioned on any of the threads.

Sorry to be so high maintainance!

Ryan


Check that you are putting the templates in the template file not the template file thats in the experts folder.

M

Thanks MoodyBot... yes, wrong folder

Now I just have to figure out what all of these chart indicators mean ... the fun part. Thanks for helping me get it set up.

R

I really like this idea, this would make it easyer to pinpoint entry and exit,
are ther any plans to develop a standalone indicator anyone? good work brian!

hi brian and friends,
i'm testing bosun's lines on a demo account and they seem very accurate.
i use a 20 pips fixed take profit on every pair and i open trades only on the positive direction of the roll over (i don't care if a bosun line is triggered if the roll over in that direction is negative).
i dont like adr lines very much since they are calculated from past daily ranges so that adr lines could became very narrow and too much close to the current price levels.
Remember that Bosun tested those levels on USDJPY, which is correct since bank of japan has a currency policy that avoids huge daily difference (1% max per day). He doesnt care about past daily ranges. Not all days are equal. Some has more information than others.

I have a question for you guys:
do you open several trades on the same pair during a single week according to bosun lines or you keep open trades only if the previous are not closed yet?

I try to explain myself better:
on monday on eurjpy i set 3 buy limit order on the 3 bosun support levels (S1,S2,S3) and i wait for the trades to be triggered my current market price. I only open 3 (not 6) trades since the positive rollover is on the BUY.
if trade on S1 is open and closed on profit, do you wait also for S2 and S3 to be triggered or you cancel them?

Obviusly if S1 trade is still open, i trade also S2 line for position averaging (es: 3 lots).

I guess, it's better not to be greedy and take only the first profitable trade on S1 line for the current week and cancel the pending ones. Am i correct?

Thank you guys, you re doing a great work.

Hi Profit_erol

I think if we took a poll of 100 people I dont think there would be two people trading brians methods exactly the same way.

For my part im still on demo with an account ($5000) thats been running since june 1st. I played around with several of brians methods, or at least my interpretation of them for several months before settling down on my current interpretation.

Initially without putting on a hedge or basket i placed several market orders based on the 3mw. Some of those went into profit, others are still on there with a large drawdown. I then left the account for a couple of weeks when playing with other accounts and ideas.

Aound 3 weeks ago I started placing limit orders and i prefer placing these on the square and take profit at bosuns line with position averaging on the support/ resistance lines. Once a trade has been placed and profit taken if i get a chance( if i remember!!) i then remove the pending trades for that currency pair.

Using limit orders has been working extremely well.

On monday this week I had the opportunity to scalp as per game mode, I had considerable success with this and also yesterday. With the yen so strong over the last couple of days i looked at the basket 1hr and hedge 1hr for the current trend then looked at each individual
pair placing orders and watching the loss profit loss cycle and taking quick profits, after a profit was taken immediately placing a new order.

Over the last couple of days I have placed well over a hundred orders, every one of those I closed in profit. Balance increased from $9000 to $12000 in the two days without increasing the drawdown.

Initial mistakes that I made when first using the account left me with a very large drawdown, from watching the account I know that by wednesday evening this will have reduced considerably and i will liquidate then.

So as it stands, $5000 demo balance at the mo is $12600, equity varying between $7000 and $8200, I will liquidate at $8500 and then continue with the demo another couple of months but this time keeping the drawdown low.

So in a nutshell limit orders are my prefered method, and scalping when conditions suit.

Any one else like to offer their experience so far.

M.

How do you determine the direction to take your trades? I am struggling to understand this from the videos.

When you hit the 0 point (and the wonderful dashboard EA triggers an alert)

a) Do you take your basket of pairs in the direction of the Dashboard indicator (green pairs:buy, red pairs:sell) OR the arrows?
b) open all pairs in one direction? (the direction of the hedge chart trend?)
c) weight your pairs towards the interest-bearing direction? (2 / 1)

I've been looking gaming this on demo for the last couple of days (thanks Moodybot for your chart tips!) but I think I may have confused the entry rules

Thanks a million! Sorry I am late the party.. but I'd like to join the fun.

I appreciate your help
R

Moodybot, have a question about square and bosunus line. What size of Square you're using, I presume it's 4 bars sq? and on what timeframe (h1 or h4). Bosunus Kines MTF, right?

Thank you in advance.

Hi, thank you for your answer.

I think also timing is important.

bosun relies on price retracement on previous prices, since max deviation from opening price cannot be too much large (eg. 1% max for usdjpy on daily basis).
I noticed that on friday the pair goes to the direction of the zero point line if during the week the range has been large.
I think that large traders closes profitable position opened in the beginning of the week.

Thats why i thing its safer to consider also timing in order to limit the drawdown (eg: a trade on S1 line opened on monday may have large drawdown during the week. a trade on S1 line opened in wednesday should have less drawdown)

thank you, great work guys