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Pitbull Trader with Position Building

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.
Thanks
Quoting Presence
Can you elaborate on the trailing pairs? Maybe with an example?
Pairs that are in slot 2 and 3 from the bottom..can be considered

pairs in the middle shows the center line..or zero line..pairs that move from -ve to +ve are jumping pairs..

there are lots of information on the center or zero line that can be used to control DD

I am learning new stuff everyday...
Quoting kamilko
You do not trade basket but only USD / JPY...

Hello all,

I don't mind things not working for reasons I understand, but I hate it when things appear to work for reasons I don't understand. That can be very dangerous, especially in Forex trading. Here, we have a system that seems to be working very well for courtney and others but I don't know why!

Hence, the most important and insightful post on this thread has gone unnoticed and unanswered.

Those who know me, know that I have been "indicator free" for many years and have never regretted kicking the evil habit. I focus a lot of time on those (very few) threads here that are indy-free and so I have been following T101's and derivative ideas right from the start.

The whole basket idea has excellent potential (see my own thread on the subject). But you need to follow the rules carefully if you are to make it work consistently for you.

T101 made it quite clear in his original description that you must choose your pairs so as to have a complete "circular" hedge, that is, every pair must "cancel" with another pair.

For example, the following 8-basket cancels out:

Buy: G/U, E/J, A/U, N/J

Sell: E/U, G/J, N/U, A/J.

Try it! Just write them as "fractions" all multiplied together with the buys the right way up and the sells upside-down. All the symbols will cancel.

This is NOT the case with the 10-basket described here. If you do the cancelling, you end up with:

Buy: E/G (x 1 lot)
Sell: U/J (x 5 lots)

So our young colleague kamilko is absolutely right - you are essentially trading U/J. I have put these pairs into a standard basket indicator and confirmed this is the case, just as his chart shows.

So.... What are we doing here. Have I maybe missed something critical in the argument....

I know that the pairs have been "carefully selected" etc - and I certainly put a lot of faith in the work of smjones, who knows exactly what he is doing....

So please can some kind soul point out if I am wrong here and exactly why this system works as well as it appears to for the good folk who are trading it with such success.

Many thanks and kind regards,

Old Dog

.
Quoting Old_Dog
Hello all,

I don't mind things not working for reasons I understand, but I hate it when things appear to work for reasons I don't understand. That can be very dangerous, especially in Forex trading. Here, we have a system that seems to be working very well for courtney and others but I don't know why!

Hence, the most important and insightful post on this thread has gone unnoticed and unanswered.

Those who know me, know that I have been "indicator free" for many years and have never regretted kicking the evil habit. I...
I think you are essentially correct. The market basket are a measure of the relative strength of the Dollar and the Yen.

But so what..at any given point the the pairs are moving at different polarity. but the buys and the sells maintains a reasonable level of DD, other ppls money. But the real concept is that by utilizing the initial buys and sells a Automatic Market Syncing indicator is formed that gives us the movement of money flow during the course of the market transactions.

What is so difficult here?

We are using the initial buys and sells to capitalize on relative strength of each currency at any given time, balancing the DD, making trades, hedging, collecting SWAP, position averaging using other indicators, waiting for the Loss Profit Loss cycle,Position reduction, Bal the ratio of BUYS to Sells with the Trend, maintaining a sales to DD ratio, growing the equity, and not loosing our initial capital because of stop losses and ignoring our EGO of wanting to be RIGHT about our decisions on pre-determined entry rules..Just follow and take Profit when its due.

Using Business Management as the market flows.

Today market open we have two main category of goods ( BUYS and SELLS) for our basket or display items now customer are going for the SELLS type of products after a few hours of opening shop..in the SELL Catergory we have XXX/JPYs products.. they like those goods so we order them and we take profit as long as the demand is there or BE if you confirm that the demand will continue for sometime.


The Pitbull indi is just our guide to reveal the instant the market decide to change from Trend to Range and shows where the money is moving.

whats difficult in that..

Now use any method you want, use candles, fractals whatever you want to confirm you trades. but making sales increase bal and controlling DD increases equity. STOP LOSSES reduces your bal and equity GET IT.

The market returns to LOSS PROFIT LOSS. so why accept your loss when there are techniques to use control those losses while accepting growth in other products, and those losses will eventually return to growth once the market switches direction.

We know money moves in the Aud/USD for Tripple SWAP..use it the take the losses out of the basket..Every Wednesday...


Now Brijon gave us these pairs..from his exposure to T101 14s and he innovated and shared his experience

I sure more work need to be done.. but there is no wrong or right way to trade..these pairs...

With me I'm just pointing out the few things that works for me by learning from his videos and DEMO.DEMO...hours of but on screen and off screen...

I must admit his videos are really hard to understand..i started out with his thread initially ..I left for over 1 year and came back to it.but I took my time and open my mind thinking business concept then apply it to the basket of currency..and then trading the basket not the individual. See the bal in the profit column thats what we are interested in.


cheers and enjoy..the concept

Its hard to accept..the simple things if you are seasoned in you own ..BIAS...

I had open mind learning free...lessons from J16, Brijon, PIPEASY and others..

But I'm still learining
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Old_Dog
Hello all,

So please can some kind soul point out if I am wrong here and exactly why this system works as well as it appears to for the good folk who are trading it with such success.

Many thanks and kind regards,

Old Dog

.
Your not wrong - the 10 pairs here are missing the 4 Chf pairs that bring balance to the basket (we also need to flip some of the pairs about for a blend).

the reason it's working here in my view is that we are primarily in a short trend and the Jpy pair generally move more than the Usd pairs and thus the basket moves into profit more often. the issues will start when we move into a long term up trend and the jpy shorts spend most of there time in DD - then people will need to tread very carefully to make it work

for now we remain short - so hopefully poeple will have suffcient time to understand the system and make it work on the long side too - just requires a little more work

this is also the reason why T101 system uses a demo or excel for the basket and not real money (many more years experience to look back on).

Mpp
Quoting chips
I think you are essentially correct. The market basket are a measure of the relative strength of the Dollar and the Yen.

But so what..at any given point the the pairs are moving at different polarity. but the buys and the sells maintains a reasonable level of DD, other ppls money. But the real concept is that by utilizing the initial buys and sells a Automatic Market Syncing indicator is formed that gives us the movement of money flow during the course of the market transactions.

What is so difficult here?

We are using the initial buys and...
Chip my experience is my worst enemy at times. A good example is with my Brother and I, He does not read any forums and I showed him how to use S&R to trade the trend and it works for Him and it shows when you compare our both accounts.
Quoting mgs1f
Chip my experience is my worst enemy at times. A good example is with my Brother and I, He does not read any forums and I showed him how to use S&R to trade the trend and it works for Him and it shows when you compare our both accounts.
We all have BIASES that have to be reviewed,, there's nothing wrong with them as long as we are aware of how to use or not to use them to help us make decisions to achieve the objective.

But once we remain fixated..and boxed-in we inhibit our mind from creating options....or being receptive of change or new ways of doing stuff.
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting mgs1f
Thanks I await the link.
http://kreslik.com/forums/viewtopic....&highlight=fpi

this should get you started
Quoting MPP
http://kreslik.com/forums/viewtopic....&highlight=fpi

this should get you started
This is exactly what we are doing...it was stated years ago in T101..
its the maket inefficiency this methiod uses...Creating the Pitbull indi from the selected hedge pairs..
the indi itself will not be a perfect bal becuase of the market inefficiency so it will move in the Loss Profit Loss circle, but still maintaining a resonable DD level.

But by using the info from the location if pairs in the Pitbull screen when sorted by profit...were are taking pips out., Brijon shows us how to do it practically...by controlling the DD using techniques..so our bal and equity increases along the way.


Notice our Loss Profit Loss..cycle.. this cycle will go on and you will never loose you investment unless you accept Loss in the circle.

Thanks for posting...the link it should give ppl a good read
Hi there, i've spent the week end reading the whole thread.. with on pit bull, very interesting concept indeed... The link opened my eyes as well about the forex market..( i have been trading it for over 8 years now).. but never looked at it that way.. Thanks. JEAN
Like some others this concept frustrates me as I _almost_ understand it, but when I trade it demo I've yet to master it.

One thing that I don't understand someone could hopefully answer for me.. long AUDUSD 1 lot.. I understand the rollover is nice to help with DD but what if that massive trade (compared with the rest of your basket) moves against you? Aren't you massively overexposed and isn't that going to wipe out any profits?

One other thing, do you need to use a swop trade with this system, or can you trade the basket alone?

Thanks
Quoting r2997790
Like some others this concept frustrates me as I _almost_ understand it, but when I trade it demo I've yet to master it.

One thing that I don't understand someone could hopefully answer for me.. long AUDUSD 1 lot.. I understand the rollover is nice to help with DD but what if that massive trade (compared with the rest of your basket) moves against you? Aren't you massively overexposed and isn't that going to wipe out any profits?

One other thing, do you need to use a swop trade with this system, or can you trade the basket alone?

Thanks
Do not invest more than you are willing to loodr..got it...trade position relative to your account size.

you dont have to trade swap...its just one way of controlling your dd.

for you confidence just notice over 1 month what happens to AUDUSD close to the SWAP interest payments...

The big money goes there...Runup in price...and a dip shortly after.

There are some ppl tha make money just buy collecting the interest..but they trade big lots..

Most ppl dont want the rest ..to know about ...it....especially how to trade it...
I may have a solution for those concerned about the BOJ intervention. I have been doing the opposite of what the initial post said. I have been selling all the buys and buying all the sells. It seems to have the same cycle of loss, profit, loss and if the BOJ interferes I will be a very happy man.
Quoting tb62
I may have a solution for those concerned about the BOJ intervention. I have been doing the opposite of what the initial post said. I have been selling all the buys and buying all the sells. It seems to have the same cycle of loss, profit, loss and if the BOJ interferes I will be a very happy man.
gee, surprise surprise.... randomly trading is equivalent to this 'system'. who woulda thunk it???

i'll give you guys a month or two to let the implications of that statement make some sense to you. here's a hint for the slower of you : if a system can be traded in the absolute opposite manner to described, and can be traded randomly one way or another, what does this suggest about the system versus random trading? is this really a system?

have fun with that thought.
Congratulations ScalaFX for coming out of the closet!
Quoting nubcake
gee, surprise surprise.... randomly trading is equivalent to this 'system'. who woulda thunk it???

i'll give you guys a month or two to let the implications of that statement make some sense to you. here's a hint for the slower of you : if a system can be traded in the absolute opposite manner to described, and can be traded randomly one way or another, what does this suggest about the system versus random trading? is this really a system?

have fun with that thought.
Its not randomly trading the system booo...think about it..

the only reason the original BUYS should be BUYS is because..of the higher SWAP collected on the AUDUSD pair...

you will be paying if you left if running after the swap...
Not do you risk analysis and figure out how often the BOJ intervene with huge sipkes ..and what implications tha could have on you DD...

PPL talk all types of crap all the time even though they have no...knowledge and they are not willing to DEMO...just too scared..
So I'm continuing the demo...notice by DD. the history of trades and the amount of sales...

If I should close all the postion I would still profit...but why should I..I using the brokers spread to make money..

I made mistakes and some trades ran away..but The market always goes back...but i COLLECTING PIPS...

I'm still not using OPM efficiently.. like a rubber band... my set limit is 15% of my balance..so I will stop trading when I'm at 10%...5% below my max..

Then I will rebalance.

but I'm trading whenever I can...

I doing lots or errands around the house...and stuff...kids and family...

cheers
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Quoting chips
Its not randomly trading the system booo...think about it..

the only reason the original BUYS should be BUYS is because..of the higher SWAP collected on the AUDUSD pair...

you will be paying if you left if running after the swap...
Not do you risk analysis and figure out how often the BOJ intervene with huge sipkes ..and what implications tha could have on you DD...

PPL talk all types of crap all the time even though they have no...knowledge and they are not willing to DEMO...just too scared..
terrible attempt at..... phrasing. words~! together into coherent, sentences_ that make sense.

you are right about people being scared though. scared of wasting time on junk. this then leads them to using a little bit of critical thinking and coming to solid conclusions about what is, and what is not, total junk. this doesn't require them to waste months of their life playing games on demo accounts just to prove how stupid the whole premise was.

just because you use words like 'business' and 'loss profit loss cycle' doesn't mean you are actually speaking coherently. they are just meaningless words when used by someone who doesn't understand what it is they are saying.

reversion to mean is a funny little game. it works, until it doesn't.
Congratulations ScalaFX for coming out of the closet!
Quoting nubcake
terrible attempt at..... phrasing. words~! together into coherent, sentences_ that make sense.

you are right about people being scared though. scared of wasting time on junk. this then leads them to using a little bit of critical thinking and coming to solid conclusions about what is, and what is not, total junk. this doesn't require them to waste months of their life playing games on demo accounts just to prove how stupid the whole premise was.

just because you use words like 'business' and 'loss profit loss cycle' doesn't mean you are actually...
Don't focus on the words...I'm not trying to sound intelligent and stuff, I merely just conveying my state of mind..when trading the system.

Why are you offended by what I'm doing anyways ?..last time I check

There IS NO WRONG or RIGHT way to TRADE.

We'll let the record speak for itself..

cheers
Hi Chips

Im trading live your way, today my account is in negative what should i do let it run or close all positions and take a loss been in since start of the asian session i normally liquidate all my positions around singapore lunch time

cheers
cash forex
Quoting cashforex
Hi Chips

Im trading live your way, today my account is in negative what should i do let it run or close all positions and take a loss been in since start of the asian session i normally liquidate all my positions around singapore lunch time

cheers
cash forex
You are trading live, and you are asking some stranger on an internet forum what you should do with YOUR money?

All I can say is...Im speechless.
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