Still Basketting | Page 127 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone still trading Mouteki? 45 replies

The EUR/USD Rally-Still Dead? 23 replies

The Euro Rally Is Still Dead-coreCPI/TIC Update 3 replies

USD in Toilet but still buys Chinese Goods!!! 11 replies

Immediate market reaction on news are still the same ? 18 replies

Attachments: Still Basketting
Exit Attachments

Still Basketting

  • #2,521
  • Jan 4, 2013 10:29am Jan 4, 2013 10:29am
Quoting sheppy
So is there an EA that actually works to trade this strategy? saw one post back on page 48 or 63 of the thread
Jesus mate, you do not want to exasperate the bigwigs of this thread. They are not at all bossy but your muses might not exactly bring out the best answers. I suggest you read the thread over the weekend. (all of it)
Faith with Action
  • #2,522
  • Jan 4, 2013 11:47am Jan 4, 2013 11:47am
Not trying to ruffle any feathers , just asking a question, there is so much to sift through. a simple yes or no answer would suffice :!)
  • #2,523
  • Jan 4, 2013 1:19pm Jan 4, 2013 1:19pm
Quoting sheppy
Not trying to ruffle any feathers , just asking a question, there is so much to sift through. a simple yes or no answer would suffice :!)
Scott!

just asking a question, right?

Quote
I am lost here. I dont see the basket for 60 minutes in the offline charts am i doing something wrong? Also when we want to buy , sell or close the basket how do we do this as the chart is offline for the basket is it not? I click on it and it doesnt even allow me to trade

You have not read even the 1st 10 pages. That is why you asked this kind of question.

Then again this.
Quote
So is there an EA that actually works to trade this strategy? saw one post back on page 48 or 63 of the thread

so after the simple yes or no answer, then you will start the EA setup questions of either c5 version or the 14-2 version and
the rest of them, like its profitability...

Why not at least sift through this thing slowly during this weekend.

We are very busy here and we won't entertain or encourage any form of flimsiness, Sorry


kos
John 3:16 - From THIS love no power on earth can me sever.
  • #2,524
  • Jan 5, 2013 1:15am Jan 5, 2013 1:15am
Advice to Newbie , put a 200 EMA on the chart and never take a sell unless the signal comes with this 200 ema line above the signal and same applies for the buy signal . ignore the weak sell and weak buy , where a signal triggers with the 200 ema still below the signal for a sell and vice versa.
  • #2,525
  • Jan 5, 2013 1:42am Jan 5, 2013 1:42am
After a bout a week's reading,finnally,I finished reading through all over the thread.
A big thanks to Kos,give us a new idea on Forex trading,and also big thanks to guys who
share all kinds of tools.
And I also have a question,as Kos#14 inclued EURCHF,and now this pair nearly useless,
do you remove this pair from the Basket v6 script ,so the offline only caculate 13 pairs,and
we also trade 13 pairs ?
And ,also I want to know,when you sell basket,do I need reverse GC and Usdchf ,when
I buy a basket ,need I revert EURGBP ?
I remember,Kos has told us do so .

All best wishes to guys who contribute a lot to this thread.
  • #2,526
  • Jan 5, 2013 8:28am Jan 5, 2013 8:28am
Has anyone tried or know if it's even possible to make a monthly offline chart; I've had no luck? If it is I'll explain further on what I want to do - it's a necessary component of another really nice indicator that may be useful here.
  • #2,527
  • Edited 9:04am Jan 5, 2013 8:53am | Edited 9:04am
Quoting Telac
Has anyone tried or know if it's even possible to make a monthly offline chart; I've had no luck? If it is I'll explain further on what I want to do - it's a necessary component of another really nice indicator that may be useful here.
Long time Telac!!

Yes it is possible, same procedure with other TF, only you will reduce
the maxbar input of the basketv6 to the amount of data that is available in your history.

In my case I reduced the maxbar to 250 and it produced the monthly offline chart from 1992 till NOW. 20 full years of data

see the picture. Lets know what you are up to, as you said it may be beneficial to us.


kos
Attached Image (click to enlarge)
Click to Enlarge Name: MN for Telac.jpg Size: 55 KB
John 3:16 - From THIS love no power on earth can me sever.
  • #2,528
  • Jan 5, 2013 2:01pm Jan 5, 2013 2:01pm
Kosomolate or anyone. Do you guys know how to add the template to timeframes like the 2 hour or 8 hour or day 2? im trying to get it to go on different timeframes other than the normal ones like 15, 30 min, 1 hour. I tried to get a 12 hour chart by putting in 720 in the tf settings but it still doesnt show up in the offline chart.
  • #2,529
  • Edited 2:23pm Jan 5, 2013 2:09pm | Edited 2:23pm
Quoting Kosomolate
Long time Telac!!

Yes it is possible, same procedure with other TF, only you will reduce
the maxbar input of the basketv6 to the amount of data that is available in your history.

In my case I reduced the maxbar to 250 and it produced the monthly offline chart from 1992 till NOW. 20 full years of data

see the picture. Lets know what you are up to, as you said it may be beneficial to us.


kos
Thanks for that Kos. I have 260 bars of data on all pairs so that's how I had it set. The monthly TF has 40,320 minutes - correct or did I miss something there? For me, I'm just not getting the monthly offline chart. I am using a bit different offline chart indi which I modified to do C5. It works on all other TF's so not sure what the problem is. I switched to this indi many months ago as it seemed to be more accurate and didn't produce those long tails that the original one did though that's likely sorted out with the basket indi you referred to.

As far as what I'm up to; I just wanted to apply Nanningbobs 10.2A indicators and template to my H4 Basket Chart to give us another take on things. I've attached a screen shot of the setup minus the Monthly pivot line (since I have no monthly offline chart available). It still gives good info even without it but ultimately it needs that monthly offline chart to be complete. I have attached a zip of all the components and template for 10.2A for anyone who is interested.

One thing for certain that occurs to me is that this would be a good tool to incorporate into the EA to give the "market read". This indi will give us 1 of 3 reads: Ranging, Buy only and Sell only. I think it also may help us in manual trading not only for Buy/Sell but also to help keep us out in the ranging situations that can eat pips. You'll notice the current read shows "Ranging".

Attached Image (click to enlarge)
Click to Enlarge Name: NB_10.2A_screen.jpg Size: 115 KB
Attached File(s)
File Type: mq4 T101_v3.01_basket_C5.mq4   12 KB | 565 downloads
File Type: zip nb-10.2.zip   14 KB | 577 downloads
  • #2,530
  • Jan 5, 2013 4:34pm Jan 5, 2013 4:34pm
Quoting Telac
Thanks for that Kos. I have 260 bars of data on all pairs so that's how I had it set. The monthly TF has 40,320 minutes - correct or did I miss something there? For me, I'm just not getting the monthly offline chart. I am using a bit different offline chart indi which I modified to do C5. It works on all other TF's so not sure what the problem is. I switched to this indi many months ago as it seemed to be more accurate and didn't produce those long tails that the original one did though that's likely sorted out with the basket indi you referred...

Don't want to discourage you with the TMAslope, if you are comfortable with it,
but I have tried all that, in fact that was what I introduced to Don's mail group then,
but I later discovered that if there is a trend, its better to be in it and sit tight than
in-out-in-out cos that is what tmaslope will do, with its very late entries and reentries.

The posted picture is the same period you posted on 4HR TF. from the big arrow Nov. 15th till now
just one entry and you hold till now +6300 pips in 7wks. I love clean charts.

just my thought anyway, wish you good luck.


kos
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.jpg Size: 55 KB
John 3:16 - From THIS love no power on earth can me sever.
  • #2,531
  • Jan 5, 2013 4:40pm Jan 5, 2013 4:40pm
that reminds me, there was this guy among us here who was doing 4HR TF
I think his name is Daemon Deluxe. Are you still holding this position up till now
or you bailed during the long holidays?

if yes then you are so lucky

kos
John 3:16 - From THIS love no power on earth can me sever.
  • #2,532
  • Jan 5, 2013 8:29pm Jan 5, 2013 8:29pm
I'm confused... why are you guys trading a basket of 14 pairs that is correlated to gbp/jpy instead of just trading gbp/jpy? It's way more profitible and cheaper especially if you pay commissions.... for example the leg up starting at 12/31 and ending at 1/02 at noon is about 280 pips on gbp/jpy but only 1300 pips on the 14 pair basket. Assuming you take the same risk on both trades, you would make way less with this basket thing.
  • #2,533
  • Jan 6, 2013 12:37am Jan 6, 2013 12:37am
Hi Kos,
I love basket trading and have been doing it for some time now. I'm currently catching up reading through the thread and should be with your stuff in a day or two. Thanks for opening this, I love it.

TJ
Charts never lie! (everyone else does) ... now where's that FF Adult lounge
  • #2,534
  • Jan 6, 2013 2:05pm Jan 6, 2013 2:05pm
Quoting saussiche
I'm confused... why are you guys trading a basket of 14 pairs that is correlated to gbp/jpy instead of just trading gbp/jpy? It's way more profitible and cheaper especially if you pay commissions.... for example the leg up starting at 12/31 and ending at 1/02 at noon is about 280 pips on gbp/jpy but only 1300 pips on the 14 pair basket. Assuming you take the same risk on both trades, you would make way less with this basket thing.
This argument comes up time and time again, but I will try to break it down for you here.

First off, if you want to make a blanket statement like "14 pairs that [are] correlated to gbp/jpy instead of just trading gbp/jpy" you must quantify that statement. First of all, in my (and I am guessing others here) research has shown that at least two pairs (usd/chf and gbp/chf) are rather inversely correlated to the gbp/jpy and other pairs are not correlated at all.

However, even with that aside what the basket does is create a synthetic pair with built in hedges to "insulate" you from isolated event risk.

I do not trade Kos method because it is not mathematically sound (whether people make pips or not I do not argue, I am just not comfortable with it) however I do have 3 baskets that are specifically designed to capture the big moving pairs (gbp/jpy, eur/jpy, etc) while offsetting some risk that a politician will shit news and blow my oversized position.

Anyway, remember you can trade any way you want

Casey
  • #2,535
  • Jan 6, 2013 3:21pm Jan 6, 2013 3:21pm
Quoting caseyjw
This argument comes up time and time again, but I will try to break it down for you here.

First off, if you want to make a blanket statement like "14 pairs that [are] correlated to gbp/jpy instead of just trading gbp/jpy" you must quantify that statement. First of all, in my (and I am guessing others here) research has shown that at least two pairs (usd/chf and gbp/chf) are rather inversely correlated to the gbp/jpy and other pairs are not correlated at all.

However, even with that aside what the basket does is create a synthetic pair...
That's not what I meant. I meant the value of the entire basket, not any particular pair.
  • #2,536
  • Edited 3:52pm Jan 6, 2013 3:41pm | Edited 3:52pm
Quoting saussiche
That's not what I meant. I meant the value of the entire basket, not any particular pair.
yes I know what you mean. This arguement has been on since and its a matter of choice.

Apart from the insulation from the fundamental events that may affect your single trade, for example if you place an order on GJ
and there is an event on USD you will feel it shouldn't affect you, but your GJ trade is entangled in UJ. But within the basket
as one is been affected another one is mitigating the effect. That is that on that.

The cost at entry is not the same. If I place 0.10 on the 14 pairs that is total of 1.40 lot size, and the total spread for the 14 pairs is -47 USD
but if I place 1.40 lot size for GJ with its spread of 6 on alpariUK that is 6x1.40. that means the order would come in with -84 USD

So the cost of 1.40 on basket and GJ is not the same so the profit too should not be. All in all I like basket because its not as erratic as THE BEAST.

its your call anyway


kos
John 3:16 - From THIS love no power on earth can me sever.
  • #2,537
  • Jan 6, 2013 3:47pm Jan 6, 2013 3:47pm
Quoting dj083
Kosomolate or anyone. Do you guys know how to add the template to timeframes like the 2 hour or 8 hour or day 2? im trying to get it to go on different timeframes other than the normal ones like 15, 30 min, 1 hour. I tried to get a 12 hour chart by putting in 720 in the tf settings but it still doesnt show up in the offline chart.
dj083

You will need to get someone to mod the basketv6 to do that for you, or better still download codersguru's mq4 manual and learn MQL so you can do it yourself.


kos
John 3:16 - From THIS love no power on earth can me sever.
  • #2,538
  • Jan 6, 2013 3:50pm Jan 6, 2013 3:50pm
Quoting TraderJoe
Hi Kos,
I love basket trading and have been doing it for some time now. I'm currently catching up reading through the thread and should be with your stuff in a day or two. Thanks for opening this, I love it.

TJ
its great you love it. I must confess that you are the oldest member of FF I have seen, member since 2004?
we would like you to share your trading experience here especially on basket trading

thanks

kos
John 3:16 - From THIS love no power on earth can me sever.
  • #2,539
  • Jan 6, 2013 3:58pm Jan 6, 2013 3:58pm
Quoting caseyjw
I do not trade Kos method because it is not mathematically sound (whether people make pips or not I do not argue, I am just not comfortable with it) however I do have 3 baskets that are specifically designed to capture the big moving pairs (gbp/jpy, eur/jpy, etc) while offsetting some risk that a politician will shit news and blow my oversized position.
casey

If 14 pairs is not sound, pick the C-5 pairs [NU, GU, AJ, GJ, EJ] and do them its very good and risk is low and controllable. The C-5 they are truly the core of BTS especially when your account is small.

kos
John 3:16 - From THIS love no power on earth can me sever.
  • #2,540
  • Jan 6, 2013 4:03pm Jan 6, 2013 4:03pm
The baskets in my opinion give less noise.....this way they are easier to work with......
7 traders viewing now