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Pitbull Trader with Position Building

  • #161
  • Jan 6, 2012 10:22pm Jan 6, 2012 10:22pm
Quoting BashBrothers
This system looks very much like t101's. look at my spreadsheet
What system? Place a trade in the direction of the trend after an hour of the greatest moving currency and hope it goes or load up on the other side of it if it doesnt.... That aint a system if its based on feel...Its flying by the proverbial seat of your pants. Eventually, that martingale is going to dig you a nasty hole.. I have no doubt that a person can win with feel but I don't have that eye for it so I rely on pure certainty of trade execution. I don't look at the forex market and go...hmm. it broke 100 by 1 pip so its got the gusto to hit 125. I mean, good for the guys that can do it -- but 95% of traders fail so I seriously doubt very few people have it.
  • #162
  • Jan 6, 2012 10:53pm Jan 6, 2012 10:53pm
Quoting 4XWeezal
What system? Place a trade in the direction of the trend after an hour of the greatest moving currency and hope it goes or load up on the other side of it if it doesnt.... That aint a system if its based on feel...Its flying by the proverbial seat of your pants. Eventually, that martingale is going to dig you a nasty hole.. I have no doubt that a person can win with feel but I don't have that eye for it so I rely on pure certainty of trade execution. I don't look at the forex market and go...hmm. it broke 100 by 1 pip so its got the gusto to hit...
Here is my take on all this, all the Buy pairs are correlated and also the sell pairs. When the currencies on either the buy side or the sell side line up and are in profit why not trade the two pairs with the least profit as they are the trailers catching up to the the strong trending pairs.
I have done this with success all week. From corellation trades you always have leaders and then followers and in the Exibit A picture GBP/JPY, and EUR/JPY are leading the sells and the NZD/JPY and USD/JPY are the trailers so I place trades on the last two and wait patiently for safe profit.
Attached Image (click to enlarge)
Click to Enlarge Name: exibit a.jpg Size: 230 KB
  • #163
  • Jan 6, 2012 11:05pm Jan 6, 2012 11:05pm
Still trying to figure out why the Gold and Silver were not used in the USA side and AUD/JPY and CAD/JPY on the Jap side. Please explain if I am wrong.
  • #164
  • Jan 6, 2012 11:18pm Jan 6, 2012 11:18pm
To everyone doubting this system, I want to say, at least you guys are questioning it and don't just follow along blindly. Some of you see the dangers, but before you go too far, open a demo account and try this method for a couple of weeks yourself. It raises a lot of questions initially and it takes a couple of days to grasp it, but things will become a lot clearer.

You will soon realize that it has serious potential and you will soon feel more in control. Don't over trade this system or use too large lots! The beauty of this system or I think more of it as a concept is the fact that it's so flexible. You heard that there is no right or wrong way to trade it repeatedly, but it's so true. Practice it on demo and soon you'll find ways to control draw down. You will also understand and appreciate other posters methods to control draw down.

So please, if you haven't tried the pitbull method, don't come on here and post blindly. I don't want to sound disrespectful, but it creates confusion and frustration among others. There has been a lot of good information posted already. Read it, try it, practice and then you can share your thoughts.

For those who thinks this total crap, so be it. Don't waste any of your time here.

Peace...
  • #165
  • Jan 6, 2012 11:35pm Jan 6, 2012 11:35pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting BashBrothers
This system looks very much like t101's. look at my spreadsheet

that's were this started from, all brijon did was take a small piece of the T101 tool kit and share it in his thread along with a few of his other methods.

your excel is simply DDE fed version of the pitbull basket, but with out the risk of DD

DD which some seem to think will not and can not happen - time will show them.

now with T101 we learn to trade the full system - Brijons view was to chase the market trend with just a few pairs and exit early - - - and it works

you can use the excel to trade this method - but have the need to worry about hedging etc - pick the pairs/profit/exit - gonna take time to figure out where to Tp though.
  • #166
  • Jan 6, 2012 11:39pm Jan 6, 2012 11:39pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting mgs1f
Still trying to figure out why the Gold and Silver were not used in the USA side and AUD/JPY and CAD/JPY on the Jap side. Please explain if I am wrong.
how much reading do you like?

the pairs selected are a carefully balance selection - 2 great minds where slung together to figure most of this out T101 and SMJones

blew my mind

but the concept was developed elsewhere and orginally started as a way of trying to perfectly hedge the market to always be gaining positive swap - try getting your head around the numbers in that.

i'll try and find the link to the orignal blog - it's not a FF thread
  • #167
  • Jan 6, 2012 11:48pm Jan 6, 2012 11:48pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting mgs1f
Here is my take on all this, all the Buy pairs are correlated and also the sell pairs. When the currencies on either the buy side or the sell side line up and are in profit why not trade the two pairs with the least profit as they are the trailers catching up to the the strong trending pairs.
I have done this with success all week. From corellation trades you always have leaders and then followers and in the Exibit A picture GBP/JPY, and EUR/JPY are leading the sells and the NZD/JPY and USD/JPY are the trailers so I place trades on the last two...

Very viable trading method - you now have 2 tools in the tool box

#3 Why not trade all 10?

but now we are moving away from Chips thread
  • #168
  • Jan 6, 2012 11:57pm Jan 6, 2012 11:57pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Bluemele/4XWeezal/Bashbrothers

between you you made 1 great post

1 - don't hedge - unless you really know how too
2 - Don't add to something you don't understand completely
3 - move the basket data to either an excell or demo account

by doing this we don't need to hedge and can control our trades much easier.

But it's not what Chips is sharing here, so now people have 2 options A - as above or B - use a demo for everything and learn the system

both ways will save a great deal of pain and frustration.
  • #169
  • Edited 12:21am Jan 7, 2012 12:02am | Edited 12:21am
Quoting 4XWeezal
The actual methodology doesnt hold water in this thread.

-"Your indi basket if left untouch will give profit" : Really if that was true all I would have to do is let an equity ea run and collect my profit when volitility picks up. Not sure about that. I can find those ea's all over the place. No problem. However, There is always a difference of some pretty significant spread in the basket unless your on some tight spreads so that line is bull crap.
-Also, profit or loss of a currency is a trend indicator. That is, A price now or a price 15...
Business principle is the main tool here guys..I now you haven't even open the basket for a week. Do that before commenting here.
  • #170
  • Jan 7, 2012 12:03am Jan 7, 2012 12:03am
Quoting 4XWeezal
What system? Place a trade in the direction of the trend after an hour of the greatest moving currency and hope it goes or load up on the other side of it if it doesnt.... That aint a system if its based on feel...Its flying by the proverbial seat of your pants. Eventually, that martingale is going to dig you a nasty hole.. I have no doubt that a person can win with feel but I don't have that eye for it so I rely on pure certainty of trade execution. I don't look at the forex market and go...hmm. it broke 100 by 1 pip so its got the gusto to hit...
Demo the before commenting
  • #171
  • Jan 7, 2012 12:10am Jan 7, 2012 12:10am
Quoting mgs1f
Here is my take on all this, all the Buy pairs are correlated and also the sell pairs. When the currencies on either the buy side or the sell side line up and are in profit why not trade the two pairs with the least profit as they are the trailers catching up to the the strong trending pairs.
I have done this with success all week. From corellation trades you always have leaders and then followers and in the Exibit A picture GBP/JPY, and EUR/JPY are leading the sells and the NZD/JPY and USD/JPY are the trailers so I place trades on the last two...
Good there are lots of ways to trade this system ..
  • #172
  • Edited 1:03am Jan 7, 2012 12:20am | Edited 1:03am
You are free to read .....but DEMO before commenting

Sorry for the long post...just want to clear up stuff from the NON-DEMOERS

I simple ask that you Demo and post your findings, not to conceptualize or theorize your previous trading BIAS then summarize and finalize your "honest" practical experience. Even though i'm thankful because now I know where you stand next-time you post.

you have to demo..

So I said profit is easy..it easy to take profit because we are following the trend...NOW..current moving prices. quick profit

But you have to know the DD management techniques..most ppl
dont like to be bothered with hedging, or Buy currencies for the Tripple SWAP interest...etc. But these are good trading techniques

Why did they ban the practice in the US. because Brokers are not making enough

Most traders like to be right and they are fixated on it...and if wrong they find a scapegoat....like Oh...my timing was off.

DEMO before commenting...

Try TRADE for the SWAP...I did it its here in the thread...thats free cash.all the banks do it ...why not you.

That's one way of controlling other ppls money...

PPl question about a runaway trade... and loops and loops

How about NOT focussing on 1 trade but the profit column on the Pitbull screen...we are not trading 1 currency...we are managing a business operation that deals with different types of goods...more sales ....increase profit...more sales cancels runaway trade too...

STOP Trading when the limit is near...wait for the Loss Profit Loss cycle...thats the nature of the market..

Wait for the DD to reduce then Reduce exposure...this reduces DD and maintain the Buy-Sell ratio...keeps the basket balance..

DEMO and free your mind for now....give your mind a chance to explore before boxing in yourself and not giving yourself the options the explore

You method is yours, mine is mine...Theres is no wrong or right way to Trade the market...

Trading is creating LOW risk ideas...and ACT on it...So DEMO..and be free

The funniest thing about this system is that it is fun and you dont have to stress about TL, Doji, pinBar, BUOB..etc.. its like a game...you know when to shoot and when not...

YOu can chart if you want...TL, doji etc..BUT here we are playing the PRICE NOW..

As Brijon said simple things are hard to see with adult eyes..because of the things Van Tharp mention about BIASES.

There are lots of BIAS affecting adults as we grow and develop...social, cultural, financial...a child has simple free mind....

IT can be seen on the conflicts all around the world....BUT kids will resolve if we just give them the chance

I notice sometimes i made mistakes on the Pitubll, then I realize I was too concious or too BIAS about the market flow.

I made better decisions when my mind is free
  • #173
  • Jan 7, 2012 12:39am Jan 7, 2012 12:39am
Quoting MPP
Very viable trading method - you now have 2 tools in the tool box

#3 Why not trade all 10?

but now we are moving away from Chips thread
Not my problem ..you can move on and Trade on

There is no wrong or right way to trade...

Trading is creating low risk ideas and act on it.. by Van Tharp
  • #174
  • Jan 7, 2012 12:42am Jan 7, 2012 12:42am
Quoting MPP
how much reading do you like?

the pairs selected are a carefully balance selection - 2 great minds where slung together to figure most of this out T101 and SMJones

blew my mind

but the concept was developed elsewhere and orginally started as a way of trying to perfectly hedge the market to always be gaining positive swap - try getting your head around the numbers in that.

i'll try and find the link to the orignal blog - it's not a FF thread
God bless T101 and Brijon but we are the new breed...the old breed laid the foundation we are just innovators...

The market does not sit and wait your system to exploit it...we have to adapt and learn new ideas..to trade to market..

I'm learning everyday...
  • #175
  • Jan 7, 2012 1:34am Jan 7, 2012 1:34am
Have you ever build a position on any pair, that you let run for 300 pips or more and then BE. But some how the market comes back and eat the position.

Think about it the market always comes back to cycle your position. But how many pips can you take while this is happening.

But further you have a basket loaded with currencies that moves at there own rate.

And a screen that tells you the moment they shift positions and to the extent the move against each other

So if your account bal can handle the position size and you are not greedy, you can eat pips to the point where your 1 X 300 pips position is nothing when its netted or balance out.


You will never get this method if you dont think interms of the Business management concept. Where you use your business financing @ 4% on a 10 year term to operate your convenience store , you will have to make sales..sales ..sales...not blowout sales or below cost, and you will not over stock slow moving products and every month you have to bal your account and the net is your profit...Now

Do you have to profit every month to be profitable for the year...?

Think about it...now this is not Trading ..this is fun...I've always dream of starting a business that i can operate from anyway in the world
  • #176
  • Jan 7, 2012 5:10am Jan 7, 2012 5:10am
I know there is a script for opening the 10 positions (5 x long and 5 x short) however... Is there somebody amoungst us that would be kind enough to create 2 new scripts ie ALL LONG (x10) + ALL SHORT(x10)? I would like to open the whole basket in one direction and this would make life so much easier.

Thanking you in anticipation
  • #177
  • Jan 7, 2012 6:42am Jan 7, 2012 6:42am
Quoting MPP
how much reading do you like?

the pairs selected are a carefully balance selection - 2 great minds where slung together to figure most of this out T101 and SMJones

blew my mind

but the concept was developed elsewhere and orginally started as a way of trying to perfectly hedge the market to always be gaining positive swap - try getting your head around the numbers in that.

i'll try and find the link to the orignal blog - it's not a FF thread
Thanks I await the link.
  • #178
  • Jan 7, 2012 6:48am Jan 7, 2012 6:48am
Quoting MPP
Very viable trading method - you now have 2 tools in the tool box

#3 Why not trade all 10?

but now we are moving away from Chips thread
I have a seperate Demo and a real account and this week I loaded the script in the Demo and everytime I made money without doing a thing. This happened because of the Day job but there was over $300 profit for the week, rebalancing at 0:00 GMT every day.
  • #179
  • Jan 7, 2012 7:01am Jan 7, 2012 7:01am
I am here to testify that this system works after you grasp it. I still use a master chart with daily support and resistance this makes me go with the trend at all times because I only thake the breakout trade of the leading pairs and safely enter the trailing pairs that are playing catch up. Thanks Chip for help on what has dumbfounded for a few years. Trading looks easier than it is and the market a beast at all times.
  • #180
  • Jan 7, 2012 8:09am Jan 7, 2012 8:09am
Quoting mgs1f
I am here to testify that this system works after you grasp it. I still use a master chart with daily support and resistance this makes me go with the trend at all times because I only thake the breakout trade of the leading pairs and safely enter the trailing pairs that are playing catch up. Thanks Chip for help on what has dumbfounded for a few years. Trading looks easier than it is and the market a beast at all times.
Can you elaborate on the trailing pairs? Maybe with an example?
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