Indicators development for T101's not very simple method

This is a great example of a very nice ride. Fortunately these seem to happen in long enough runs to pay off - however the fly in the ointment is how to know when the change is coming. If the run peters out slowly it's no problem - you don't lose many pips before HAS changes color - however if the run changes more abruptly you can give up a lot of pips waiting for the color change to happen. I think this is why you still need a bit of intuition as well as some advice from some of the lower time frame charts.... any thoughts on a more conclusive system?

You need a lot of reading on several threads in this forum (forex factory) to understand the concept of Basket. Kos method was introduced on page 249 to time in trades and capture specific market flactuations like bounce and reversal using HAS. You may trade 14 pairs/or 8 pairs whichever you prefer. You may find the lists of pairs in a basket by highlighting the T101 indy, right click modify and will prompt you to the editor. Scroll down, when you reach case1, there is one pair associated with it. This is the one you will be trading if you indicate basket 1 in the input when you drug the indi to your chart. Scroll down further for the 8 pairs and 14 pairs should you choice to trade other pairs.

And if you want to go deeper on related basket trading, you may start at the beginning of this thread. Hope this help.

Edd

Hi Edd, Thanks for your help. Cheers ...

Hello, maybe this advisor (percentage trawl) will be useful in the subject.

Any one will go long with me ?

Yup.....looks right to me

That little news spike just kicked us a bit but also gave another buying opp.... added a few positions on that.....see where it goes

I closed long and entered short as the HAS says

Ya, hit my stop also.... news is a killer at times!

I hope you entered short one with me too

Is this good opportunity to enter long on 15/240 chart now ?

LONG

closed long basket and opened short

when the Has is getting skinny wait, I see you got burned a few times by it
I do too
plus check the 15 min tf for overall trend

thanks for ur advise

I remember what my forex mentor once taught me the question about "The Trader and the Broker". His question was about how the two view the market.

As he relayed, the trader have all the tools in his arsenal, the indicators, the EA, all type of math. He even digest every fundamental and economic reports as part of his homework on the weekly basis. Then the trader also has the first call on the trade. If the trader says "Im trading LONG or SHORT" the broker will just humbly take the opposite. Of course this is based on the Traders analysis and his reading of fundamentals. We never heard the brokers saying "No I am declining your trade because that is the best choice of market price movement".

But at the end of the day, the broker wins, the trader loses at the ratio of 95-5. Is there something that the broker is doing right and the trader doing wrong?

Precisely, there is a lot!!! Here are some of the broker's good trading qualities:

1) The broker always trade long-term he never closes his trade against you, its always the trader that closes his trades.

2) The broker doesn't have any trading emotions, but trader has.

3) The broker has a lot of capital for him trade long term, the trader doesn't have especially if he is over-trading.

These qualities above could also be adapted by a trader in order for him to be successful.

Long Term trading, yes we can do that. Not if you are trading over a 1 min chart and using basket of 14-pairs. Basket trading was designed for Long term trading and by definition you should be using at least a 4hr chart for this. Remember a basket needs 50+ pips initially. Unless you are extremely lucky or just simply pretending by writing only your winning moments in this thread and omitting those losing moment. But the reality your equity is getting smaller and you know that.

Emotions, yes this is the enemy. it creeps into you when you are losing as well as when you are winning. Especially if you are winning, that is why a lot of traders cannot finish the trade. Using the Account protect is one of the culprit why a trade cannot be finish. Of course you can always justify that you want to protect your account. Really?

Lots of Capital, we can do that too by pretending that we have a lot. All you have to do is avoid over-trading. If you have only 1,000 in your equity then trade only 1cent per pip and I'm sure you can sleep well at night.

Overall my take on this one is to train yourself to trade on a longer time frame, have your account in order, calculate well your trade lot size and most of all do your homework over the weekend and plan your trading in the coming week.

As i can see you have the best trading system here introduced by Trader 101, that is the edge you have that your brokers doesn't have.

Joven

Joven,

Do you trade BTS or just single pairs?

Since I have known BTS a few years back, I never look back to trading single pair. I feel that trading BTs is more safer than trading single pairs, maybe its just me but that comes from years of trading BTS.

However, I would like to inform you that BTs is not always trading 14 pairs. There are a lot to trading BTS, there is the Full basket (14pairs), the MiniBasket(11pairs), the Optimized Basket, there are also group tradings according to currencies and many more.

Also there are equivalent pairs for the basket mentioned. Like 5 pairs that will be the exact equivalent of the 14 pairs, or the 10 pairs equivalent.

Every week it was being monitored using an excel spreadsheets which of this groupings delivered the most pips then trading is focused to these groups.

Basket trading has gone a long way since the introduction in 2008. But it was decided a long time ago that trading it in a lower time frame was never profitable. Believe me we have years of accumulated data to support this claim.

Still i will leave it to you to decide for yourself if a 1 min time frame is your preference for trading baskets by all means do it. Trading is all about traders personality.

Friendly regards,

Joven

Yes I feel its safer than single pairs too.


Yeah there are a lot of forms and ways to take advantage of that opportunity that Julius opened up and which was developed in various ways by many other people. Which is not limited to IA and Excel monitoring groups and those who in other ways believe with the offline chart it can be done.

long way yes, but that it cannot be profitable if done in lower TF, NO, I disagree completely with you on that. It depends on what tools you apply. and your disposition as a trader. And that it was not done by the group does not mean it cannot be done by someone else.

I was there too from beginning and I know that kind of drawdown we face monitoring those IA in 4hrs and daily TF for weeks, and those were eliminated when I moved to lower TF its like intra-day form of BTS. When you place 1min on 15min believe me you are trading 15min trend.

If you do 15min-4hrs TF you are trading 4hrs TF which is more like intra-week BTS. even on 15-4hr I have seen BTS trades that span across 4 days, check your recent charts to see.


Pls give offline chart a try on 15-240 TF and you will only use your IA and excel to see overall move of the market.


kos

Thanks for the reply Joven.

As for me, sadly to say, after trading BTS stubbornly for quite some time (way shorter than yours), I humbly went back to trading single pairs.

Honestly, my heart still belongs to BTS and I yearn to trade BTS successfully. However, I met with continuous disappointment trading the BTS that I just sort of gave up.

My reason is simple.

I have my good share of profitable trades. However, one thing I realize is that, I could have say a streak of 5 winners just to lose it all in one HUGE loser.

BUT, I blame not the BTS but myself for the failure.

Perhaps because I can't monitor my trades constantly on screen.

Perhaps I'm using the wrong trade management settings (my profit will always be lock $10 away from current profit).

Maybe, its also partly due to the weird behaviour of the market recently with all the whipsaws.

I'm still an avid user of Kos system, and am using it now on single pairs together with basic fibs. Thank you Kos again for sharing.

Personally speaking, I feel that trading BTS does not give that much extra edge over single pairs, for me to take that extra risk.

I feel much comfortable trading single pairs probably because I feel that I'm more in control of that particular pair. By trading single pairs, I can partly rely on impact news in my decision making.

Also, there are strong communities in FF dedicated to single pairs analysis, further lowering the risk of making the wrong decision as I can derive useful information from the experienced traders.

As for the time frame, I agree with Kos that it really depends on the trader which TF suits the most. I tried 1-15, 15-240, had lots of fun but the TF is still too fast for me and does not suit my time. Not to mention the pressure of having to monitor trades constantly.


So, I've decided to move on to a larger TF 4 hours on single pairs. I would still use Kos but on 240-1440 (need Kos to confirm its viability haha).

I like what Dkny said "The Trader and the Broker"

And I admire you Kos, for always able to trade BTS successfully using your own way, something I've been trying hard to do!