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Still Basketting

  • #5,481
  • Sep 7, 2013 7:18am Sep 7, 2013 7:18am
Quoting GKarl
Hi Forex_insane, As I can see you haven't been here four years. What about trading? Are you still trading? Have you used any additional indicators as a traders group of Julius? Would be nice to see founder of this method. I like Julius idea: "It like putting to rest the dirty bottled water and it will start to settle down after a certain period and all the dirt to the bottom and the clearer water at the top." Regards, Karl
Hi Karl. Julius had provided with several indicators including Basket candles,news indi and others. Later on, few of the smarter traders from our group went on to develop an EA which didn't work at least for me.
And yes, its been a long time. I wasn't a full time trader even that time and later i stopped trading forex. Then i found binary options more interesting and less time consuming than spot fx.

And yes, we used to have an excel spreadsheet too which was given by Julius. I was one of the traders who had stopped using charts and relied completely on this sheet.
  • #5,482
  • Sep 7, 2013 7:36am Sep 7, 2013 7:36am
Quoting nisha4x
Just for Info sake...it pays to trade in the direction of the larger trend..setting modified for 4920 changed to 3280 . Was doing testing with both 4920 and 3280. Below is the 3280 chart if only traded in the larger trend. opened and closed at the change in color. 7100 pips in 45 days is damn good if only trading one basket..if u take out the slippages and even take a conservative figure of 5000 pips , its more then what people make in a year. In my case, i have taken the 925 and 1230 trades too. Comments welcome... {image}
The only thing I would say is that I don't tend to like all these continuous changing of settings. If the 4920 setting has worked fine for you so far, why change it now? That was one of my reservations with KOS's method initially; the HAS settings kept being changed.
  • #5,483
  • Sep 7, 2013 7:41am Sep 7, 2013 7:41am
Hi Dan

I hear what you are saying.......

What I have noticed is that todays settings do not work tomorrow.
That is why you will not find a consistently profitable EA.

You have to evolve with the market as it changes.....

Regards
  • #5,484
  • Sep 7, 2013 7:47am Sep 7, 2013 7:47am
Quoting Gvc
Hi Dan I hear what you are saying....... What I have noticed is that todays settings do not work tomorrow. That is why you will not find a consistently profitable EA. You have to evolve with the market as it changes..... Regards
Ok thanks. Have to listen to the more experienced guys.
  • #5,485
  • Sep 7, 2013 7:59am Sep 7, 2013 7:59am
I optimize most of the tools that I use at least monthly.

Look back on this thread for the XOProfitSingle v3 indicator by Manualfx I think it was.

It optimizes the IXOAH indicator for each time frame that you put it on.

You will notice that the optimal settings change as time goes on.....

EDIT: And especially don't take what the so called experienced traders have to say as final...lol
You must find what works for you and develop that.....
  • #5,486
  • Sep 7, 2013 8:09am Sep 7, 2013 8:09am
Dan, we have to do testing on alternate scenarios and after a period of time, which one works better you stick with it. Both 4920 and 3280 also work. if 3280 is giving me better entry and keeping me in the same trend as 4920, i would rather keep 3280 .

Quoting danjuma
{quote} The only thing I would say is that I don't tend to like all these continuous changing of settings. If the 4920 setting has worked fine for you so far, why change it now? That was one of my reservations with KOS's method initially; the HAS settings kept being changed.
Trend is your friend...
  • #5,487
  • Sep 7, 2013 8:11am Sep 7, 2013 8:11am
I agree with you, George, there is not a single EA which can last the whole nine yard, market conditions change, individual traders have their own temprament and even if you give them a 100% mechanical system, not many can still succeed.

For me, entry is important, after that its my personal discretion to quit at 500 or 1000 pips.

Quoting Gvc
Hi Dan I hear what you are saying....... What I have noticed is that todays settings do not work tomorrow. That is why you will not find a consistently profitable EA. You have to evolve with the market as it changes..... Regards
Trend is your friend...
  • #5,488
  • Sep 7, 2013 8:46am Sep 7, 2013 8:46am
Quoting Gvc
I optimize most of the tools that I use at least monthly. Look back on this thread for the XOProfitSingle v3 indicator by Manualfx I think it was. It optimizes the IXOAH indicator for each time frame that you put it on. You will notice that the optimal settings change as time goes on..... EDIT: And especially don't take what the so called experienced traders have to say as final...lol You must find what works for you and develop that.....
Many thanks George. Have found the indi and will try out.

Will you be having a look at the EA for nisha4x system you made that appears to fail to take trades soon?
  • #5,489
  • Edited 9:32am Sep 7, 2013 9:10am | Edited 9:32am
I will look at it tomorrow and post the fixed version.
  • #5,490
  • Sep 7, 2013 9:38am Sep 7, 2013 9:38am
Quoting Gvc
I will look at it tomorrow and post the fixed version.
Thanks.
  • #5,491
  • Sep 7, 2013 9:44am Sep 7, 2013 9:44am
After kos, i think that george deserves to win all the vouches that u can give.

He do a very big job.
MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #5,492
  • Sep 7, 2013 10:41am Sep 7, 2013 10:41am
Quoting tnavi
After kos, i think that george deserves to win all the vouches that u can give. He do a very big job.
Ideed Tnavi,

I agree with you as with out those nice EA's it would have been more of a challenge trading BTS but with the EA's by George, we are all raking in the PIPS in buckets and drums and some are even looking for big tanks for thier pips.

Thanks Geoege and Kos too for all your efforts in BTS and still supporting it's course as people ask you to do this and do that and you still do all to satisfy every one. That is a big big support and I hope some way we can send your some pips money to charity of your choice if you have any your support.

Thanks once more the likes of Kos, Geroge, Tnavi to mentione but a few. Well done indeed and more pips to you all.
Born to rule my Economic World and Make a Difference!
  • #5,493
  • Sep 7, 2013 10:47am Sep 7, 2013 10:47am
Quoting MPP
Stop Stop stop - thinking about the individual pairs. why is GPBUSD not in profit, why is AUDJPY not in profit like all the rest. A few new members have found there way to us, but apparently have not read anything on Basket trading - not an issue - just follow the rules of HAS and stop worrying about the rest. We are no longer trading single pairs - thats why it's a basket (also known in the finacial world as an index). compare it to the Dow Jones or FTS 100 - who cares which companies are doing what or even in the list - it's all about the averages....

Exactly now i know a lot of people like to look at indvidual stuff 1 can shoose to open a futures acount and look at the yen itself or the usd futures. And then lets say usd index going up go net long usd pairs and when yen also go long yen so short eurjpy gbpjpy and the rest but this makes it all more complicated etc. I trade next to the basket discretionary with macro fundametals and some tech levels but both seperate acounts. But in general this basket method kos itsway is solid or like tnavi with simple trendlines the more you start adding you will break it. Why fix something if it isnt broken
  • #5,494
  • Sep 7, 2013 1:00pm Sep 7, 2013 1:00pm
Quoting ingmarforex
{quote} Exactly now i know a lot of people like to look at indvidual stuff 1 can shoose to open a futures acount and look at the yen itself or the usd futures. And then lets say usd index going up go net long usd pairs and when yen also go long yen so short eurjpy gbpjpy and the rest but this makes it all more complicated etc. I trade next to the basket discretionary with macro fundametals and some tech levels but both seperate acounts. But in general this basket method kos itsway is solid or like tnavi with simple trendlines the more you start...
True talk ingmarforex.
  • #5,495
  • Sep 7, 2013 10:50pm Sep 7, 2013 10:50pm
Anyone here like to share some info about where market might be going tomorrow, bull/bear?
Slow and Steady!
  • #5,496
  • Sep 8, 2013 1:30am Sep 8, 2013 1:30am
Hello basketeers

Happy to see traders still using the basket trading system (BTS) which i started some years ago. However, i notice that some of these newbies to basket are still confuse the logic behind BTS. MPP mentioned about forgetting the single pair but concentrate on the average/index, YES that is the idea, similar to DJIA thats an index.

Serious BTS started with the formation of 14 pairs trading in one direction. Then I notice that two pairs (UC and EG) are always having a negative pull on the basket. So I started getting statistical data about the opposite trades of these two pairs and voila a 30% increase in the profit. The 14 straight pairs then was replaced by the Optimized basket where these two pairs are traded opposite of the 12.

Further study due to the cumbersom ness of the 14 pairs further simplification of the Optimized Basket comes to the formation of 10 pairs basket whose pip output is the same as the Optimized 14. So the 10 pair basket was adapted.

Still cumbersome... So i further simplified it and the results is now the Core 5 trading, which i called the essence of the basket. However, you must remember that the Core 5 pairs will only produce 50% of the 14 pairs basket. No problem, all you got to do is double the lot size when trading the Core 5.

Again remember the Core 5 was a direct results of the simplification of the Optimized basket not the 14 straight basket.

Now on the question of indicators, those brokers supplied indicators are good if you know how and when to use them. Some indicators are good for trending market some are not. Remember also these indicators are lagging indicators, meaning they are history so we only rely that history will repeat itself. Select no more than 3 indicators you like most, indicator that work for flat market, indicator that work on trending market then combined them. good example for these are MACD which is pretty steady, the Stochastic, perhaps the OBV then combine them, making a composite signal for these 3 indicators.

You must also be aware of your fundamentals, like the proposed strike on Syria, what is the implication of this to the currency. The proposed tapering of QE by the Feds and others.

I also notice that a lot of you are trading demo till now. People you need to draw blood in order to feel the real war. Playing war on video game is not going to war. Start with something small but real money and lets see if you still can make those thousand of pips you are recording...heheheh... I know you can coz most of you are now matured basketeer.

God luck for next week, i might drop by again next week. Kudos to Kos for loving basket trading, GVC is the bomb, MPP keep those advice coming - newbies need it, the rest (too many to mention) Keep it up, where is my boy? DKNY? Love you all guys!

Julius
  • #5,497
  • Sep 8, 2013 1:48am Sep 8, 2013 1:48am
Many thanks Mr. Julius for ur words
MY telegram channel: https://t.me/https://t.me/tnavieurusd
  • #5,498
  • Sep 8, 2013 2:37am Sep 8, 2013 2:37am
gr8 to see you here, what pairs are out in the 10 pair basket.

Quoting trader101
Hello basketeers Happy to see traders still using the basket trading system (BTS) which i started some years ago. However, i notice that some of these newbies to basket are still confuse the logic behind BTS. MPP mentioned about forgetting the single pair but concentrate on the average/index, YES that is the idea, similar to DJIA thats an index. Serious BTS started with the formation of 14 pairs trading in one direction. Then I notice that two pairs (UC and EG) are always having a negative pull on the basket. So I started getting statistical...
Trend is your friend...
  • #5,499
  • Sep 8, 2013 3:00am Sep 8, 2013 3:00am
The great T101 drops by! Your post above is a gem! Many thanks sir!
  • #5,500
  • Sep 8, 2013 3:12am Sep 8, 2013 3:12am
Summer is over. Big guys is coming back! Hope to learn more from you Trader101. It was the first thread by Trader101 when I began to learn about refinements of forex. I have read from A to Z. Big Booyah and Thank You for Your efforts to help others.

Regards,
Karl
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