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  • #321
  • Jan 12, 2012 12:23am Jan 12, 2012 12:23am
Quoting chips
Still holding positions on the AUD...

Its..a GIVEN inthe FOREX MARKET BIG MONEY GOES FOR THE HIGHER INTEREST.

DONT RISK MORE THAT YOU ARE WILLING TO LOOSE..

If this thing turns..then I know my DD limit...at the time of the Trade...

I'm just showing that I use this Technique to BAL the basket... after wild entries .. runaway entries..whatever...you call it and still printing money from trades


ITS A GIVEN in the market..

Most ppl DONT WANT OTHERs to KNOW..How to trade it.

[b]Some ppl with BIG MONEY just TRADE THIS WAY...DUMP IN THE...
Chips
Thanks for the adivice in your reply.
Really nice use of Swap run up you have here. It makes perfect sense.
Now I see it in action, next week I will use it.
This system is proving itself everyday (for me).

But, until you demo it and use it consistenlty it seems weird.
I don't think you can "get it" buy just thinking about it and applying mathmatical equations etc (my thoughts anyway) you have to go to work with it, you have to "experience it".
I'm more than happy with my results and I really enjoy trading this way without those time based charts.
Thanks and enjoy your travel.
Look forward to your return.
  • #322
  • Edited Jan 13, 2012 1:18am Jan 12, 2012 11:53am | Edited Jan 13, 2012 1:18am
Ok round up

Trading from 3 Jan untill today

Start equity $5166
Todays balance $ 7800
Net profit $2634
50.9% increse in equity.
Not one chart looked at.
All trades closed.
No overtrading, no lot size larger than .50. let the trend cycle.
Love this system thanks BJ and Chips.
  • #323
  • Jan 12, 2012 12:00pm Jan 12, 2012 12:00pm
this is my result, so far so good. Started on 04.Jan.2012

lots to learn and experience, very interesting way of trading.

No chart, no indi.

thanks BJ, Chips and courtneywild.
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  • #324
  • Jan 12, 2012 1:22pm Jan 12, 2012 1:22pm
Quoting Pipsninja
I am glad that chips has started this Thread. I have traded this method on demo for the last few months and all of my directional trades as a whole have been closed in profit which I think has a lot to do with the thin market as of late and I only had to activate DD control twice.

For example, I open the basket with 0.01 lot and wait for a few hours and then sort the basket based on profit and loss amounts. Then I long the pair with the biggest profit if it is a long position in the basket with 0.4 lots and also long the pair with biggest loss...
Thanks for this post PipsNinja... Cleared up a lot of questions I had. And I didn't even consider opening the basket in a demo account. PERFECT
  • #325
  • Jan 12, 2012 3:54pm Jan 12, 2012 3:54pm
Hey guys, just picked up this thread about two days ago, and I have to say I'm already impressed.

I've never seen a system that requires this little input and learning to begin working.

So far so good, I've traded two days (most of which I was gone, just checking in on it from time to time) And I'm already up $280.

What's really screwing my bottom line is the spread. I'm with IBFX (i only use MT4 demo for charting, I use Currenex for live scalping).
What is the best broker as far as spreads and the what not go?

I'm gonna keep it going and see how this works. Thanks to everyone and thanks to Chips especially!
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  • #326
  • Jan 12, 2012 4:46pm Jan 12, 2012 4:46pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting PipJaeger
What's really screwing my bottom line is the spread. I'm with IBFX (i only use MT4 demo for charting, I use Currenex for live scalping).
What is the best broker as far as spreads and the what not go?
MyFxbook provide a live broker spread page

http://www.myfxbook.com/forex-broker-spreads

Spreads are much the same across the brokers, it's not until you get passed set points based on lot turn arounds or account balances that the brokers start to take notice of you, if i remember correctly FXCM will provide raw data feeds to accounts over $50k, with this type of account the spreads drop about 50%
  • #327
  • Jan 12, 2012 5:20pm Jan 12, 2012 5:20pm
its my first post here in ff, i am mostly a reader, but today i want to write something

first of all i dont speak english, so sorry for my mistakes

second, i am a trader since 2004, and 8 years later i am here looking for good trading systems? why?

because because for me was hard to understand, that Forex its like a casino, sorry if you dont agree with mi is just my humble opinion, all depends on your hit rate and your capacity to trade with cold mind.

this system like many others in this forum will work or not, all depends on you, people start using a system and that month the make xxxxxxx pips and think teh have found the holly grail, and what happen next?, they lose a couple of hundreds and then came here again and talk that this system o that system doesent work, talk with many technicals words and make people doubt about all forex....

i have lose money in forex and a have win money in forex, but was more than a year ago when i started looking at the market in a diferent way when i make 11k usd (real money) with 3K, in a month, and was with a system like this the T101 system, i am still making money, but that system is a little bit dangerous when you take bad desitions, so i am thinking of a new system like t101, but little less risky.....

this system is a VERY GOOD system, but its risky, and like CHIPS said Managing drowdown! some people here laugh with the term, but the drowdown managment its not for this system, is for every system you have and you will try in the future....

with all respect, maybe you think people giving a try to this system are dumbs, ( i am a dumb too) but, you have a very good chance to make good money here....

maybe your system have many indicators, osc, EMA´s. volumen etc, and you still have losses dont you?, i can flip a coin to make a trading desition and i have 50% prob of win! no matter if it a ranging market or trendy!

so guys, think a little bit more, and instead of make fun of all of us trying to find new ways to make our living, think a little bit more, amd make a contribution, dont be like a sheep following the herd...

BTW, i started this week with my demo account, and make a steady 4% dayli

BEST REGARDS TO YOU ALL
  • #328
  • Jan 12, 2012 6:33pm Jan 12, 2012 6:33pm
Quoting ancoranoi
its my first post here in ff, i am mostly a reader, but today i want to write something

first of all i dont speak english, so sorry for my mistakes

second, i am a trader since 2004, and 8 years later i am here looking for good trading systems? why?

because because for me was hard to understand, that Forex its like a casino, sorry if you dont agree with mi is just my humble opinion, all depends on your hit rate and your capacity to trade with cold mind.

this system like many others in this forum will work or not, all depends on you, people start...

There are hundreds of systems to wade through trying to find one that works.
You'd be well advised to not waste time on one proposed by a fool.

Go back and read any one of brijon's posts. You'll see what I mean.
  • #329
  • Jan 13, 2012 12:23am Jan 13, 2012 12:23am
Quoting ancoranoi
its my first post here in ff, i am mostly a reader, but today i want to write something

first of all i dont speak english, so sorry for my mistakes

second, i am a trader since 2004, and 8 years later i am here looking for good trading systems? why?

because because for me was hard to understand, that Forex its like a casino, sorry if you dont agree with mi is just my humble opinion, all depends on your hit rate and your capacity to trade with cold mind.

this system like many others in this forum will work or not, all depends on you, people start...
ancoranoi nice post. Sums it up about right. try before you buy or detract.
  • #330
  • Jan 13, 2012 2:17am Jan 13, 2012 2:17am
Quoting billbss
There are hundreds of systems to wade through trying to find one that works.
You'd be well advised to not waste time on one proposed by a fool.

Go back and read any one of brijon's posts. You'll see what I mean.


Yep, there are 100's of threads out there to waste time on.

Most of course only attract half a dozen posts before drying up, im sure you have come across that.

Dreddings, CICR which im sure your familiar with and of course Pitbull, all of which work in the right hands.

Chips and courtney are having reasonable success running pitbull so perhaps "the fool" who bought pitbull to FF from an old take on trading might actually have come up with a fresh approach to trading on MT4.

What I do find interesting is the fact that Pitbull, CICR and Dreddings newbie thread have been all been reopened back on the trading systems thread having been removed previously.

There have been several detractors to this thread and amazingly they have all accumulated here, another one of your threads that went nowhere.

http://www.forexfactory.com/showthread.php?t=325669
  • #331
  • Jan 13, 2012 2:41am Jan 13, 2012 2:41am
Quoting moodybot
Yep, there are 100's of threads out there to waste time on.

Most of course only attract half a dozen posts before drying up, im sure you have come across that.

Dreddings, CICR which im sure your familiar with and of course Pitbull, all of which work in the right hands.

Chips and courtney are having reasonable success running pitbull so perhaps "the fool" who bought pitbull to FF from an old take on trading might actually have come up with a fresh approach to trading on MT4.

What I do find interesting is the fact that Pitbull, CICR and Dreddings...
so what is more likely....

that a few people are capable of seeing garbage from a mile away while most have no clue and think everything is the next holy grail or close substitute?

or,

that a few detractors are so stupid and have no idea what they are talking about, despite showing simple flaws that have yet to be properly refuted by the majority, while the majority are so much more clever than these few detractors?

seems to me that when most fail at trading then whatever the majority are flocking to is more likely than not to be an absolute waste of time and foolish at best. so are you, the majority, just that much more clever than the few of us who think you guys are nothing but children playing with a bunch of broken toys? is that what you think?

so basically you guys are the clever ones and us few detractors have sub-average IQ, right? we few are at the LOW end of the IQ bell curve, and it's certainly not that you guys have the average IQ and we few are sitting up on the high end of the bell curve, right?

yeah, good luck with that.
Congratulations ScalaFX for coming out of the closet!
  • #332
  • Jan 13, 2012 3:29am Jan 13, 2012 3:29am
Quoting nubcake
so what is more likely....

that a few people are capable of seeing garbage from a mile away while most have no clue and think everything is the next holy grail or close substitute?

or,

that a few detractors are so stupid and have no idea what they are talking about, despite showing simple flaws that have yet to be properly refuted by the majority, while the majority are so much more clever than these few detractors?

seems to me that when most fail at trading then whatever the majority are flocking to is more likely than not to be an absolute...
Lol.

Right on cue.

Lets have a look here.

Billbss says the Pitbull method is crap,, same as you right?

Three threads here which are quiet popular.

Pitbull is out,, that leaves CICR and Dreddings newbie thread.

Let me quote billbs regarding the CICR thread

"That is where I learned about them. I couldn't keep up with his method because the rules seemed to change every day, but it introduced me to the indexes"

No one else seems to have trouble with it, in fact bilbss started a new thread

http://www.forexfactory.com/showthread.php?t=321735

that went nowhere.

Lets take a look at dredding thread, why not use this?

But we cant, why?

And I quote from this thread

http://www.forexfactory.com/showthread.php?t=329415

"I've noticed a large influx of systems on FF featuring repainting indicators.

It seems like the more it repaints, the more followers the system has.


I have a theory as to why this is.

The worse the economy and the harder it is to find a job, the more people look for a way to make a living without a job, starting with $200.


This sets up a wave of newbies into forex. These beginners are naturally attracted to repainting indicators because looking back on a chart, it looks like they achieve a 100% win rate. It's the old "weekend millionaire" effect.

I predict we'll see more of these systems along with martingale and money management schemes supposed to generate profits with a coin toss."

3lzz, repaints, yep, but great indicator if understood.

And finally your quote

"so basically you guys are the clever ones and us few detractors have sub-average IQ, right? we few are at the LOW end of the IQ bell curve, and it's certainly not that you guys have the average IQ and we few are sitting up on the high end of the bell curve, right?"

Seems to me that the average guy can make these ideas work and plenty of people do, why cant you guys, perhaps you are right,, maybe you are at the low end of the IQ bell curve, or more likely the bell end.
  • #333
  • Jan 13, 2012 8:01am Jan 13, 2012 8:01am
Hello all

My thanks to MPP and others who tried to answer my previous questions.

I have looked quite carefully at the behaviour of the Pitbull basket and I believe there are some nice opportunities here, if handled properly.

For those who want to know the technical details of how baskets actually work, please take a read thru my previous thread:

http://www.forexfactory.com/showthread.php?t=265350

I have run the Pitbull basket thru my arbitrage engine and the Daily and Hourly charts are attached below.

The results are not too bad. The basket oscillates quite nicely on both a daily and hourly basis.

While it is nowhere near as nice as a basket designed for optimum swing (see the thread link above), there is no reason why this should not be a tradable proposition.

It is just a matter of keeping an eye on the basket swings and taking long/short positions as appropriate.

Of course, you don't actually need a basket indicator like mine. With some skill and experience, you can judge the swings from the 0.01 lot pairs themselves.

The results being obtained by folk like Courtney clearly shows what can be done with skill and experience, combined with a cautious approach.

Best wishes

OD

.
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  • #334
  • Jan 13, 2012 8:11am Jan 13, 2012 8:11am
Quoting moodybot
Lol.

Right on cue.

Lets have a look here.

Billbss says the Pitbull method is crap,, same as you right?

Three threads here which are quiet popular.

Pitbull is out,, that leaves CICR and Dreddings newbie thread.

Let me quote billbs regarding the CICR thread

"That is where I learned about them. I couldn't keep up with his method because the rules seemed to change every day, but it introduced me to the indexes"

No one else seems to have trouble with it, in fact bilbss started a new thread

http://www.forexfactory.com/showthread.php?t=321735

that...
yes. we are the bell end. good one. just as a tip you only use one "," and not two. the word is also "quite" not "quiet", as in, you guys are quite silly and should go back to your corner and be quiet.

truly you guys are too smart for us silly detractors. we dumb. we thread bashers. hurrr. i love it. you guys are so cute.

and for what it's worth i have no idea what you were quoting and really don't care as it has nothing to do with me. whatever point you were trying to prove is lost on me, but i'm dumb right. you smart little critters. oh how i wish i could learn from you all
Congratulations ScalaFX for coming out of the closet!
  • #335
  • Jan 13, 2012 8:38am Jan 13, 2012 8:38am
My first (and possibly last) post here. I generally use FF for news and a bit of light hearted reading when things are slow, but a few posters have wound me up enough to post this.

First off, I find this trading method an interesting approach. It's really just another hedging strategy and I'm not sure if it's for me, but I've been interested by some of the preliminary results. I've watched a few of Brijon's video's but find him hard to listen to. He has what seems to be a reasonable business approach and idea, but the presentations are not the greatest...so it is good to see other traders thoughts and results.

Some detractors of this method need to be a bit more mature (and professional) if they are going to criticise this method. They should explain clearly, and prove, their reasoning rather than just purport that everyone that uses this method is doomed to failure. If done correctly, with proper money management, there is no valid reason someone should lose all of their money with this method. Whether people can make a living out of it... well, I am awaiting to see more results. This method, however, has as much chance of success as any other.

An in-depth study was done back in 2004 which back tested, and live tested, fibonacci sequences, moving averages, support and resistance and most other technical methods of trading and found that they had no more chance of success than not using them. I'm sorry to burst some people's bubbles, but there you go. Technical trading is the same as either picking your own numbers or having a lucky dip on the Lotto. In fact, during this study, they had a competition between real, experienced, professional traders and a horse. Guess who won...the horse. Personally, I still prefer to have a technique as I don't want to believe I'm simply gambling, and I really do believe it gives me the winning edge. Plus horse shoes don't fit me ;-)

To all those disparaging traders that are knocking this system, or any other, please don't be so foolish, or egotistical, to believe that your system is any better. If your system works for you, then great, but what works for you won't work for many others. Any decent trader will tell you, it is not the system that works or fails, it is the trader. We all have our own personalities, and must find the correct style and method that suits us, individually. If this system doesn't suit you...let it go.

Mine is S&R, candlesticks and chart patterns (no indicators) and I have them worked out pretty well but I am ALWAYS looking for additional ideas and keep an open mind. Anything that gives an additional 1 percent success rate is nothing to be sniffed at.

My thoughts on this trading method are generally supportive. The idea of using someone else's money and wearing the cost to run your business is normal business practice. For example, if you had taken a buy trade and hedged with a sell trade on the EUR/USD a year ago at 1 lot of $10,000 each ( $20,000 all up), you would have paid $200 interest for the year (with my broker). That's 1% interest per year. Any business would take that any day.

What concerns me about this method is the (almost) complete randomness. A good business would not buy bad stock, or goods which it couldn't sell, or knew nothing about. So why buy currency that you don't know much about? The idea of using a basket to determine a trend can also be done visually using charts, with the added advantage of using other techniques. I thought one of Brijon's videos hinted at charts at some point but I may have misheard and couldn't be bothered trying to find the right video again. Perhaps someone can let me know if he does, at some point, occasionally use them with his method. It is another tool to use that may be advantageous, but perhaps it undermines the whole philosophy of the method.

Keep the thread going and forget the naysayers. Money speaks louder than words so keep posting your results. A special mention to Courtneywild for his mature and informative posts.
  • #336
  • Jan 13, 2012 8:55am Jan 13, 2012 8:55am
It's working for me. Small gains I just open what ever the bottom pair is in the correct direction .04 lot and check back . . if the pair is at the bottom I close it out

Rinse and repeat. I also have MPTM ea running if basket reaches 50 pips close out. I also have a -150 loss your shirt SL

If I see a possitive basket I'll close it.

This is a set it and forget it method. If you think too much you will goof it up. I just take a look at it a couple times a day
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  • #337
  • Jan 13, 2012 9:09am Jan 13, 2012 9:09am
Quoting nubcake
yes. we are the bell end. good one. just as a tip you only use one "," and not two. the word is also "quite" not "quiet", as in, you guys are quite silly and should go back to your corner and be quiet.

truly you guys are too smart for us silly detractors. we dumb. we thread bashers. hurrr. i love it. you guys are so cute.

and for what it's worth i have no idea what you were quoting and really don't care as it has nothing to do with me. whatever point you were trying to prove is lost on me, but i'm dumb right. you smart little...
Yes you are quite right.



Good to see dryclean and old dog posting their findings, hopefully a few more will start to see the benefit of trading the Pitbull method.
  • #338
  • Jan 13, 2012 10:02am Jan 13, 2012 10:02am
Today close for another +4.59%

read chips and courtneywild's posts then demo to learn...

thanks again BJ, chips & courtneywild.
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  • #339
  • Jan 13, 2012 10:15am Jan 13, 2012 10:15am
if a pair settle on the botton line we trade it, but i think we also need to have any rule for entry, reversals can make you go on the wrong way, any ideas?
  • #340
  • Jan 13, 2012 11:29am Jan 13, 2012 11:29am
I have each pair loaded with pivots and S/R lines
Like right now EJ is at the bottom of the 10 pairs but if you look at the chart it is bouncing around S1 (plus after London Close and Friday)

I might stay away from it till it makes up its mind

I also have a currency strength meter that helps Like now Eur is low and Jpy is very high in strength which would produce a nice sell situation
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