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Still Basketting

  • #6,961
  • Jan 31, 2014 7:20am Jan 31, 2014 7:20am
Quoting IgumzFx
{quote} One must still understand Price Action to analyze the offline chart using Support/Resistance, Trendline and channel for possible rejection, reversal and continuation patterns. Am new to basket trading {image} {image} {image}
True.

Ty
My job: I speculate and manage risk.
  • #6,962
  • Jan 31, 2014 7:20am Jan 31, 2014 7:20am
Quoting TyLamai
{quote} Kos I didn't use 1500 again after the last time. I employed 1060 which as you now know has hit my C14 600pips TP & (AND!) my C5 300pips x 2 TP. So all in all I have banked 600 + 300x2 pips = 1200pips! Not bad for 1days "work" (in quotes because I was even AWAY from my laptop when ALL this occured - deftly handled by my favourite assistant: t101). If I subtract the loses of the immediate last buy basket, I still come out on top! Thank you sir. Ty
am happy for you jare!
green week again and green month of +5000 pips

kos
John 3:16 - From THIS love no power on earth can me sever.
  • #6,963
  • Jan 31, 2014 7:22am Jan 31, 2014 7:22am
Quoting shum
short in BE, traling 30%... {image}
Please shum I would like to see what happens with your 30% trailing. Please keep us posted.

Thanks.

Ty
My job: I speculate and manage risk.
  • #6,964
  • Jan 31, 2014 8:19am Jan 31, 2014 8:19am
another tp demo-600, two real acounts 600+600
so far this week 2000 pis on real
and 2583 on demo

http://i.pixs.ru/storage/5/4/2/gbpjp...8_10690542.png
  • #6,965
  • Jan 31, 2014 8:23am Jan 31, 2014 8:23am
Quoting shum
another tp demo-600, two real acounts 600+600 so far this week 2000 pis on real and 2583 on demo {image}
That's what we are saying!

Good work man - welcome to the club of pip-rakers!

Ty
My job: I speculate and manage risk.
  • #6,966
  • Jan 31, 2014 8:24am Jan 31, 2014 8:24am
Quoting Kosomolate
{quote} am happy for you jare! green week again and green month of +5000 pips kos
It's ALL you sir - na you God use o!



Regards,

Ty
My job: I speculate and manage risk.
  • #6,967
  • Jan 31, 2014 8:25am Jan 31, 2014 8:25am
Hey Travis what's up? You are too silent - am SURE you made pips too!

Ty
My job: I speculate and manage risk.
  • #6,968
  • Jan 31, 2014 9:05am Jan 31, 2014 9:05am
Quoting TyLamai
Hey Travis what's up? You are too silent - am SURE you made pips too! Ty
I just woke up. Currently up +460ish on the short. I'm down for the week, but that's okay. I know I'll get it back.
  • #6,969
  • Jan 31, 2014 9:09am Jan 31, 2014 9:09am
Quoting Kosomolate
{quote} for 1500 you should be RED now due to very late entries while 1060 may end the week BE or slightly GREEN kos
Yep, the entries for 1500 were very very late. I think I missed out on a total of 1000 pips as a result. I'm going to stick with the 1500 method for a while on demo and keep testing it. I'll go back to 1060 while I'm testing the 1500.
  • #6,970
  • Jan 31, 2014 9:26am Jan 31, 2014 9:26am
Quoting Bob_Loblaw
{quote} Yep, the entries for 1500 were very very late. I think I missed out on a total of 1000 pips as a result. I'm going to stick with the 1500 method for a while on demo and keep testing it. I'll go back to 1060 while I'm testing the 1500.
Great idea Travis - I think that IS the reason am ending this week in profit.

Ty
My job: I speculate and manage risk.
  • #6,971
  • Jan 31, 2014 9:37am Jan 31, 2014 9:37am
Quoting TyLamai
{quote} Please shum I would like to see what happens with your 30% trailing. Please keep us posted. Thanks. Ty
This is good
  • #6,972
  • Jan 31, 2014 9:44am Jan 31, 2014 9:44am
Price is at daily support and am watching the reaction
Attached Image (click to enlarge)
Click to Enlarge Name: Daily.jpg Size: 53 KB
  • #6,973
  • Jan 31, 2014 9:46am Jan 31, 2014 9:46am
Quoting TyLamai
{quote} Great idea Travis - I think that IS the reason am ending this week in profit. Ty
Okay, I just closed out that short for +609. Great to end the week with a winner.

Here are my results for this week.
1500 XO Trades - C14

6 trades - 2 BE, 2 Winners, 2 Losers
Long: -1
Short: -559
Long: 5
Short: 81
Long: -504
Short: 609
-369 pips

Weekly summary. This was a pretty crappy week which, I think, can be completely blamed on 1500 XO. Although the rest of the month's results are not like this, it makes me realize that not only does 1500 XO cost you pips just from entering trades late, but it also leaves you more vulnerable to bigger losses if the XO switches a bar later than the 1060 XO (which is what happened to me).

1500 XO cost me 1000 pips just from late entries, 1 one which was 850 pips lost because of late entry.
  • #6,974
  • Jan 31, 2014 9:47am Jan 31, 2014 9:47am
I'll share my January results with 1500 XO in about an hour too.
  • #6,975
  • Jan 31, 2014 10:06am Jan 31, 2014 10:06am
Hi there,

It's a pitty but I miss today's set up. I was busy this morning... It would have been 450 pips more. My third win trade of the week.

Ok, I end the week with two wins and two BE. At the moment this strategy it's great and streessless.


Thanks KOS, thanks Travis


toni
  • #6,976
  • Jan 31, 2014 12:12pm Jan 31, 2014 12:12pm
Okay, Here are my results for the month of January (starting on Jan 9th, because of personal stuff)

1500 XO Trades - C14

12 trades - 3 BE, 7 Winners, 2 Losers
Short: 814 *This one reached 814 because I forgot to set my TP
Long: 9 *BE
Short: 611
Long: 280
Long: 161 *Reentry off of the 1060 XO
Short: 600
Long: -1 *BE
Short: -559
Long: 5 *BE
Short: 81
Long: -504
Short: 609
2106 pips

Monthly summary. I'm not complaining about 2000 pips in a month, but because of the 1500 XO method I left a lot of pips on the table, which I'm fine with as long I'm hitting my take profits, but the delay in exits, and then as a result, the delay in entries with the 1500 XO, in my opinion, isn't worth using it.

So now, going to back to Kos' 1060 XO method, I think I'll have to scrap using the TP, because a 600 TP after 2 or 3 200-300 pip losses wouldn't justify my risk.

The reason I went for the 600 tp and then waiting for the next XO change is because I really hate trying to re-enter using the H1 or M15. I find that I could talk myself into staying out or getting back in and being wrong often.

I'll now try to find a more mechanical way to reenter if my BE gets hit. Have a great weekend guys!!

-Travis
  • #6,977
  • Jan 31, 2014 1:16pm Jan 31, 2014 1:16pm
Quoting forexdaist
Hi there, It's a pitty but I miss today's set up...
Why didn't you leave t101 to manage it in your absence?

Ty
My job: I speculate and manage risk.
  • #6,978
  • Jan 31, 2014 1:39pm Jan 31, 2014 1:39pm
Quoting Bob_Loblaw
Okay, Here are my results for the month of January (starting on Jan 9th, because of personal stuff) 1500 XO Trades - C14 12 trades - 3 BE, 7 Winners, 2 Losers Short: 814 *This one reached 814 because I forgot to set my TP Long: 9 *BE Short: 611 Long: 280 Long: 161 *Reentry off of the 1060 XO Short: 600 Long: -1 *BE Short: -559 Long: 5 *BE Short: 81 Long: -504 Short: 609 2106 pips Monthly summary. I'm not complaining about 2000 pips in a month, but because of the 1500 XO method I left a lot of pips on the table, which I'm fine with as long I'm hitting...
Great analysis and PERFORMANCE Travis! 2106 pips NOT shabby in the slightest.

Then again, THIS is what testing is all about. Now you know what you need to change to improve your result.

While 1060 may be quick, adding PA to it greatly increases the odds in our favour.

As for re-entries, I look to the lower TFs - UNFORTUNATELY, this requires being around to monitor the trades once your initial position is taken out via BE.

(Just thinking ALOUD) But this is the LOGIC which immediately comes to mind towards achieving this (i.e. "finding a more mechanical way to reenter if my BE gets hit"):

1. t101(a) enters a trade (Buy or Sell) based off of the XO1060 signal.

2. We would normally check EVERY four hours to see how things are going.

3. IF in the last four hours our position has been "taken out", we THEN "go down" to the M15 offline and ACTIVATE t101(b) by placing ANOTHER EA on the M15 offline chart: this particular EA will ONLY take trades which are CONTRARY to the particular H4 XO's direction. I.E. IF we were in a H4 SELL and our BE was hit, we zoom into M15...which we expect to presently be in a buy. We INSTRUCT t101(b) to ONLY take SELL trades (since we are HOPING for a trend continuation).

4. IF after another four hours XO on the H4 flips from SELL to BUY, then a proper reversal has occurred. At this POINT we simply allow t101(a) to open a NEW BUY basket as usual. Note that t101(b) WON'T (SHOULDN'T) open any buy trades since we ONLY instructed it to open Sells (hopefully).

5. In THEORY it works but in REALITY XO can flip sides a million times in 4 hours! Booooom to your account in your absence!

Anyways, I wouldn't mind if people out there who are brighter develop a BETTER way to MECHANICALLY work out re-entries while we are away from our PCs / Tabs / Phones / Laptops / Etc.

Thanks for reading.

Regards,

Ty
My job: I speculate and manage risk.
  • #6,979
  • Jan 31, 2014 2:11pm Jan 31, 2014 2:11pm
Quoting Kosomolate
{quote} am happy for you jare! green week again and green month of +5000 pips kos

Omo Iya, I dey feel you oooooo.
You are too much.
Thanks for your strategy.
  • #6,980
  • Jan 31, 2014 2:19pm Jan 31, 2014 2:19pm
As for me, I discovered this strategy last week of this Month ( Jan'14)
And my result just for one week is +1,180 pips.
I am very happy with it.
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