Still Basketting

Jeez, has there ever been a gap down (or up) like that?!?!? I went from +320 with +80 locked to stopped out at -1172!?! I feel like I should close out before the end of the week to avoid that business!!

Wow, I kind of feel lucky then that my TS was hit of friday. A jump this big is rare. If you want to play it safe, then yeah, you close on friday, but most times you'll just end up re-opening on monday and paying spread. I think an 1000+ pip loss like this is equal to about 10 times reopening a trade in spread. Depends how you want to play it. Personaly I always close my trades on friday.

Another topic:I remember Kos saying that 40pip SL/pair, so with 5 pairs it would mean a 200 pip SL, but that is for M15. How does this differ in a H1 chart?

The other thing that interests me is how soon do you break even? I know Kos prefers and earlier BE (so do I), 150 pips on a M15 14 pair chart, if I remember correctly. How tight do you guys set your BEs on 5 pair H1 charts?

Just curious to see what settings other people are comfortable with.

Regards,
Peter

Many traders do close out at the end of the week, a key thing to watch though is the friday direction and movements, it had already dropped some before the close of the week.

this has happened before - it's very rare though and the profits of the baskets far out way the odd freak trade.

treat it like any other trade and review your charts and trade accordingly. expect some whipsaw though monday until the markets have decided how to handle the weekend downgrades.

Hi, attached is the Heiken ashi smoothed i use with arrow alerts.

Put both indicators in your indicators folder but only attach the second one to the chart

Hi Kos,

Firstly I have analyze this thread starting from the original T101 simple trading system of basket. From there, they have slowly evolve and also change their methods from 4 pairs to 14 pairs to some building EA in 8 pairs and core5 began thanks to GVC. I am really impressed of the Losses where the risk is max 10% while the Profit is limitless due to the trail profiting concept.

I was really impressed by this template because you manage to combine multiple pairs and trades as though it is a single chart. This is really a great thread to actually understand strength of currencies as well as to understand how strength is correlated to each other. I have began testing this method out the past 3 months and the results was great. It is such a shame that it had to be transferred to commercial content as I would believe your methods are more of an extension branch from T101 methods.

Then this month proves my knowledge is still shallow as I caught losses. 3 times in a row in fact. I was trying to understand how your style trades and tries to complement it with the original T101 style of trading.

This brings me to a question Kos if you dont mind answering. Most of the traders following this thread has been following H4 HAS and entry begin in M15. I am wondering do you still use T101 original basket IA where you enter 14 trades in the beginning of the week and wait for the 7 buy 7 sell to go to its slots. (I'm sure those who read the original thread would understand). I ask this because your template shows the movement of the trend which is true but in 4 hours. Would u use it to look at the IA for long term?

Another question is confidence level, this is because I face this problem where when ranging happens. How do we capture the beginning of the trend? because ranging doesnt end till a breakout. Could you share how you would define end of ranging period based on your template? There are times where I found too that the movement of the basket could easily moved 400 -600 pips yesterday then today is the ranging period? Based from what I have read you have seldom uses any breakout systems and mainly rely on the indicators. Could you share your opinion on this?

Thanks in advance.

im floating +830 points in live.

http://i45.tinypic.com/vwuyw0.jpg

1h chart-

http://i46.tinypic.com/2vxrbpt.jpg

Hi Tnavi,

Did you enter on friday or monday? If monday, wasn't it a bit risky? PA has quite far from HAS.

Regards,
Peter

im short since friday...was a high risky short....

kos, how are u working this entry??

http://i50.tinypic.com/1538qox.jpg

crazy monday!

Hi!

http://i50.tinypic.com/fvz393.jpg

I've gone from 800 points to be +20 points ...

kos, as you solve these situations?

I'm sure Kos will answer.

but there are a number of options on this

1 - 1h chart only - with a trade any setup process (EA style) - Trade would enter and you would be stopped out
2 - 1h chart only - with discretion - HAS is short, but there's a big gap in the market, gaps are typically closed before direction confirmed, wait for gap to close, monitor all TF's and look for a better entry (except that we may miss some trades)
3 - 1h/4h - no trade as 4h is still long - watch for either cross long on the 1h or 4h to turn short and trade accordingly - possibly use re-entry method

with regards your high risk entry - great entry - this time, but you should consider using much tighter control over the trade when taking bigger risks, possibly even considered closing out when the markets opened with such a big gap, then look for the next trade - we know it's coming...

Yeah, it seems that most of the time gaps like to close themselves up before making the move. I actually went long on demo yesterday after the gap down. I didn't get it until late on the first h1 bar so I got stopped out before it flew up, but it did fill in the gap. I'm still sticking to the original rules with a new rule added: Close out any open trades on Friday and look for reentry the following week. That way I can avoid the -1000 gaps even though they are rare.

my HAS (2,25,2,25) is in red yet....

I've gone from +10% of account to -1% in few hours ;(

greetings to Cypriot gobernment

Hi Basketers

An interesting observation!

I just applied the basket indicator on EURUSD as well GBPJPY. The picture shows that both the charts are similar. This implies that irrespective of the pair used for basketing data from all the 14 pairs are drawn into make the basket chart. Mr.Ko or some other senior basket traders can through some light on this aspect of basket trading.

Another interesting application/observation!

This is to avoid trades while wipsaw price action is on. Trading becomes easy for me with ichi in 4H trend. I have shown in the picture the price action of the basket in an Ichi cloud. For the sake of simplicity keep only the cloud of Ichi. Make rest all color None. Just avoid placing basket orders or switch off the EA when ever the basket price action is in the midst of Ichi clouds. You can hold your trades even if HAS colour changes until the prices action clear away from the cloud. By this we can avoid the false signals.

I am not deviating from the trading system. It is just to add value to avoid the wrong signals. Those who are interested learn more on ICHI please look into http://http://www.kumotrader.com/ich...itle=Main_Page . Perhaps it may add value to your trading.

Happy Trading
$ampath

Here is what I get for the EURUSD, GBPJPY and then a 14 Pair chart, all offline 60 minute.

Hi Mr.Seller9

I have applied the 14pair basket indicator on EURUSD & GBPJPY and the charts are found to be similar. If I am wrong please correct me why I am getting similar chart.

Thanks.
$ampath

What indicator are you using?

Hi Mr.Seller9

Ko's "Basketv6".

$ampath

Yes, youre right...applying the basket v6 indicator to any chart will generate an offline 14 pair chart of the time frame you specified.

I don't know if there is a later version than the one I have, but in the version I have if you set "NumOfPairs = 1" it will always generate an off-line chart for GBPJPY.
Here are the choices, the case number is the "NumberOfPairs" you have selected, in the version I have you can not change the pairs from what is listed below.

case 1: Pair[0] = "GBPJPY" + Pair_suffix;
Factor=0.0;
break;
case 2: Pair[0] = "GBPUSD" + Pair_suffix;
Pair[1] = "EURUSD" + Pair_suffix;
Factor=200.0;
break;
case 4: Pair[0] = "GBPUSD" + Pair_suffix;
Pair[1] = "EURJPY" + Pair_suffix;
Pair[2] = "EURUSD" + Pair_suffix;
Pair[3] = "GBPJPY" + Pair_suffix;
Factor=400.0;
break;

case 5: Pair[0] = "AUDJPY" + Pair_suffix;
Pair[1] = "NZDUSD" + Pair_suffix;
Pair[2] = "EURJPY" + Pair_suffix;
Pair[3] = "GBPJPY" + Pair_suffix;
Pair[4] = "GBPUSD" + Pair_suffix;
Factor=500.0;
break;

case 6: Pair[0] = "GBPUSD" + Pair_suffix;
Pair[1] = "EURJPY" + Pair_suffix;
Pair[2] = "AUDUSD" + Pair_suffix;
Pair[3] = "EURUSD" + Pair_suffix;
Pair[4] = "GBPJPY" + Pair_suffix;
Pair[5] = "NZDUSD" + Pair_suffix;
Factor=600.0;
break;
case 8: Pair[0] = "GBPUSD" + Pair_suffix;
Pair[1] = "EURJPY" + Pair_suffix;
Pair[2] = "AUDUSD" + Pair_suffix;
Pair[3] = "NZDJPY" + Pair_suffix;
Pair[4] = "EURUSD" + Pair_suffix;
Pair[5] = "GBPJPY" + Pair_suffix;
Pair[6] = "NZDUSD" + Pair_suffix;
Pair[7] = "AUDJPY" + Pair_suffix;
Factor=800.0;
break;
case 10: Pair[0] = "GBPUSD" + Pair_suffix;
Pair[1] = "EURGBP" + Pair_suffix;
Pair[2] = "GBPJPY" + Pair_suffix;
Pair[3] = "CADJPY" + Pair_suffix;
Pair[4] = "NZDUSD" + Pair_suffix;
Pair[5] = "EURUSD" + Pair_suffix;
Pair[6] = "USDJPY" + Pair_suffix;
Pair[7] = "AUDUSD" + Pair_suffix;
Pair[8] = "NZDJPY" + Pair_suffix;
Pair[9] = "GBPCHF" + Pair_suffix;
Factor=1000.0;
break;
case 12: Pair[0] = "GBPUSD" + Pair_suffix;
Pair[1] = "EURGBP" + Pair_suffix;
Pair[2] = "GBPJPY" + Pair_suffix;
Pair[3] = "CADJPY" + Pair_suffix;
Pair[4] = "NZDUSD" + Pair_suffix;
Pair[5] = "AUDJPY" + Pair_suffix;
Pair[6] = "EURUSD" + Pair_suffix;
Pair[7] = "USDJPY" + Pair_suffix;
Pair[8] = "AUDUSD" + Pair_suffix;
Pair[9] = "NZDJPY" + Pair_suffix;
Pair[10] = "GBPCHF" + Pair_suffix;
Pair[11] = "CHFJPY" + Pair_suffix;
Factor=1200.0;
break;
case 14: Pair[0] = "GBPUSD" + Pair_suffix;
Pair[1] = "EURGBP" + Pair_suffix;
Pair[2] = "GBPJPY" + Pair_suffix;
Pair[3] = "USDCHF" + Pair_suffix;
Pair[4] = "NZDUSD" + Pair_suffix;
Pair[5] = "AUDJPY" + Pair_suffix;
Pair[6] = "EURJPY" + Pair_suffix;
Pair[7] = "EURUSD" + Pair_suffix;
Pair[8] = "USDJPY" + Pair_suffix;
Pair[9] = "AUDUSD" + Pair_suffix;
Pair[10] = "NZDJPY" + Pair_suffix;
Pair[11] = "GBPCHF" + Pair_suffix;
Pair[12] = "CHFJPY" + Pair_suffix;
Pair[13] = "EURCHF" + Pair_suffix;
Factor=1400.0;
break;