Still Basketting | Page 370 | 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

  • #7,381
  • Feb 14, 2014 11:20pm Feb 14, 2014 11:20pm
<p>
Quoting TyLamai
{quote} Blindly&quot; following the IXO crosses at this point will only result in losses (small and large). Price is in the process of EITHER breaking through the 224-226 STRONG resistance area OR falling like MAD down. Whichever way it decides, we will be ready (and VERY willing) to rake in the pips! Regards, Ty
Even if we trade it blindly, we ll still make profit in the long run.
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #7,382
  • Edited 1:58am Feb 15, 2014 1:33am | Edited 1:58am
PRICE ACTION ANALYSIS USING PURE PRICE ACTION
------------------------------------------------------------------
I am critically looking at the offline chart from weekly to 15 mins time frame based on Pure Price Action without using any custom indicators but Support, Resistance, Trendline and Channels as price hit it to produce a candle reversal and continuation patterns; Pinbar, Railway Tracks, Outside Bar, Inside bar and Doji(Spinning Top).
I observed that it is turn of huge profit when analyses neatly and it will save one from losing so much during ranging moves. The beauty of the offline chart is that it saves you time to look at so many pairs(14) individually) before placing trade positions.
Look at the chart below(Daily Offline Chart)

Now from the chart you could see clearly how price hit the daily support reacted to for a bullish reversal pattern the date is also stated. If one should triggers a buy basket at that point it will be a huge profit.
I did not end there but when further to see how the individual pairs will react from the date to make a better basket. The pairs are as follows
1.GBPUSD
2.GBPCHF
3.CHFJPY
4.AUDJPY
5.EURJPY
6.NZDJPY
7.AUDUSD
8.USDJPY
9.EURUSD
10.CADJPY
11.GBPJPY
12.NZDUSD
13.EURGBP
14.USDCHF
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2014-02-15_0819.png Size: 71 KB
Click to Enlarge Name: 2014-02-15_0841.png Size: 53 KB
Click to Enlarge Name: 2014-02-15_0843.png Size: 41 KB
Click to Enlarge Name: 2014-02-15_0845.png Size: 37 KB
Click to Enlarge Name: 2014-02-15_0847.png Size: 38 KB
Click to Enlarge Name: 2014-02-15_0848.png Size: 42 KB
Click to Enlarge Name: 2014-02-15_0850.png Size: 41 KB
Click to Enlarge Name: 2014-02-15_0852.png Size: 41 KB
Click to Enlarge Name: 2014-02-15_0853.png Size: 40 KB
Click to Enlarge Name: 2014-02-15_0855.png Size: 39 KB
  • #7,383
  • Feb 15, 2014 2:03am Feb 15, 2014 2:03am
Quoting IgumzFx
PRICE ACTION ANALYSIS USING PURE PRICE ACTION ------------------------------------------------------------------ I am critically looking at the offline chart from weekly to 15 mins time frame based on Pure Price Action without using any custom indicators but Support, Resistance, Trendline and Channels as price hit it to produce a candle reversal and continuation patterns; Pinbar, Railway Tracks, Outside Bar, Inside bar and Doji(Spinning Top). I observed that it is turn of huge profit when analyses neatly and it will save one from losing so much...
Sir, WITH ALL DUE RESPECT why not leave all the complications out of this thread and start your thread of PRICE ACTION ANALYSIS USING PURE PRICE ACTION and let we that are contented with using the simple custom indicators given in this thread be using them with our simple price analysis
  • #7,384
  • Feb 15, 2014 2:06am Feb 15, 2014 2:06am
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-02-15_0856.png Size: 39 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-02-15_0900.png Size: 39 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-02-15_0902.png Size: 39 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-02-15_0904.png Size: 41 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-02-15_0905.png Size: 40 KB
  • #7,385
  • Feb 15, 2014 2:10am Feb 15, 2014 2:10am
Quoting Godwin Igili
{quote} Sir, WITH ALL DUE RESPECT why not leave all the complications out of this thread and start your thread of PRICE ACTION ANALYSIS USING PURE PRICE ACTION and let we that are contented with using the simple custom indicators given in this thread be using them with our simple price analysis
Hello Gowin,
It is just an observations.
I guess we are all here to make profit and also welcome new ideas that can be tested on demo accounts
sorry if i make you angry
  • #7,386
  • Feb 15, 2014 2:13am Feb 15, 2014 2:13am
Quoting Milanoss
Just testing I_XO_A_H_MI indicator in EA for all pairs in H4 timeframe. EA is not optimalized. Red bars=sell, green bars buy, year 2013 till now. But results are interesting. Now I have some data for XoPanel. Now I need to test it for basket charts. It will not be easy, but I have idea https://docs.google.com/spreadsheet/...UE&usp=sharing Mil
very promising.
thanks & regards
hukam
  • #7,387
  • Feb 15, 2014 2:24am Feb 15, 2014 2:24am
Quoting IgumzFx
{quote} Hello Gowin, It is just an observations. I guess we are all here to make profit and also welcome new ideas that can be tested on demo accounts sorry if i make you angry
Perhaps ask Kos if it is ok to introduce new to his thread.....
  • #7,388
  • Feb 15, 2014 3:03am Feb 15, 2014 3:03am
Quoting Blaiserboy
{quote} Perhaps ask Kos if it is ok to introduce new to his thread.....
No problem
  • #7,389
  • Feb 15, 2014 3:04am Feb 15, 2014 3:04am
Quoting Opemipo
{quote} It ll be nice if u can share ur indicators and template so dt we can speak the same language.Thanks!
Two emas 20 and 50, two ccis 84 and 174.
It is possible to make large sums trading, small losses, large wins
  • #7,390
  • Feb 15, 2014 3:19am Feb 15, 2014 3:19am
Quoting Opemipo
<p>{quote} Even if we trade it blindly, we ll still make profit in the long run.
I disagree. A prolonged ranging market would not be funny.
It is possible to make large sums trading, small losses, large wins
  • #7,391
  • Feb 15, 2014 5:05am Feb 15, 2014 5:05am
Quoting IgumzFx
{image}{image}{image}{image}{image}
Very impressive analysis,but price action is subject to individual interpretation. Indicators help form strict entry and exit rules. And dnt make the mistake of trying to catch reversals,its easier to trade the swings and best to confirm a trend before taking entries.
It is possible to make large sums trading, small losses, large wins
  • #7,392
  • Feb 15, 2014 5:10am Feb 15, 2014 5:10am
Quoting omadivi
{quote} I disagree. A prolonged ranging market would not be funny.
Yes sir! And THAT'S where Price Action (PA) comes in.

I think folks shouldn't see PA as mutually exclusive with using indicators - Instead we can see using indicators as "visually confirming" PA.

In a protracted ranging market (God forbid!)...only knowledge about PA will save one from the ensuing choppiness which an Indie will be depicting.

Like I mentioned, and like it's CLEAR for all students of PA, Price has simply been - so far - unable to break through the 224-226 resistance area...

Knowing this FACT, it will ONLY be risking your money for you to open a BUY basket just because IXO says to do so.

The most PRUDENT thing to do will be to WAIT for PA to DICTATE the SAFEST time/area to get in - Long or Short.

IMHO I think this is ALSO what IgumzFx is trying to SHOW above - so while his methods MAY not go down well with some, let's TRY to understand what he is trying to achieve. I ALSO get where Godwin is coming from BUT with a thread of this size, DIVERSE opinions and MOs - Modus Operandis - Method of Operations should be expected...and I guess respected OR at least Ignored IF they do NOT suit our style of trading.

At the end of the day, KOS the Boss will be the final word on the matter. But let us remember that this won't be the 1st time DIVERGENT views/methods will appear here...I doubt it will be the last sef.

I know am ranting as usual so I'll get off here with a FINAL advice for pip-rakers who CARE: Learn a little PA - you will be GLAD you did.

Regards,

Ty
My job: I speculate and manage risk.
  • #7,393
  • Feb 15, 2014 5:31am Feb 15, 2014 5:31am
Quoting TyLamai
{quote} Yes sir! And THAT'S where Price Action (PA) comes in. I think folks shouldn't see PA as mutually exclusive with using indicators - Instead we can see using indicators as "visually confirming" PA. In a protracted ranging market (God forbid!)...only knowledge about PA will save one from the ensuing choppiness which an Indie will be depicting. Like I mentioned, and like it's CLEAR for all students of PA, Price has simply been - so far - unable to break through the 224-226 resistance area... Knowing this FACT, it will ONLY be risking your money...
Dear TyLamai,
What I posted was not to disagree with the owner of the trend but to make my little contributions.
Well thank you for your understand
  • #7,394
  • Feb 15, 2014 5:35am Feb 15, 2014 5:35am
Quoting omadivi
{quote} Very impressive analysis,but price action is subject to individual interpretation. Indicators help form strict entry and exit rules. And dnt make the mistake of trying to catch reversals,its easier to trade the swings and best to confirm a trend before taking entries.
Dear Omadivi, yes price action is good with individual pairs but when I did it on the offline chart it was in order with the 14 pairs.
I came up with this idea to avoid losses during ranging market.
  • #7,395
  • Feb 15, 2014 4:09pm Feb 15, 2014 4:09pm
Quoting IgumzFx
PRICE ACTION ANALYSIS USING PURE PRICE ACTION ------------------------------------------------------------------ I am critically looking at the offline chart from weekly to 15 mins time frame based on Pure Price Action without using any custom indicators but Support, Resistance, Trendline and Channels as price hit it to produce a candle reversal and continuation patterns; Pinbar, Railway Tracks, Outside Bar, Inside bar and Doji(Spinning Top). I observed that it is turn of huge profit when analyses neatly and it will save one from losing so much...
Did you choosed these pairs on your own?

There is something wrong with your pairings if you are referring to the very first BTS thread. You have actually jumbled the pairings.

If these are new concepts then I go with the others suggesting you to start your own thread. Sorry bro just highlighting the obvious.

Joven
  • #7,396
  • Feb 15, 2014 4:57pm Feb 15, 2014 4:57pm
Quoting Dkny
{quote} Did you choosed these pairs on your own? There is something wrong with your pairings if you are referring to the very first BTS thread. You have actually jumbled the pairings. If these are new concepts then I go with the others suggesting you to start your own thread. Sorry bro just highlighting the obvious. Joven
Greetings Joven,

I checked his pairs and i thought the only pair missing is EURCHF, it was replaced with CADJPY...i can be wrong.

allan
When the internal struggle ends, everything becomes easy - Mr. Douglas
  • #7,397
  • Feb 15, 2014 5:32pm Feb 15, 2014 5:32pm
Quoting lananpips
{quote} Greetings Joven, I checked his pairs and i thought the only pair missing is EURCHF, it was replaced with CADJPY...i can be wrong. allan
Hello Alan, cadj was in the original pairs which is being coupled by usdcad but on the universal pairs cadj was eliminated thus usdcad was likewise eliminated. If his broker doesnt have the EC then a new permutation should be conducted if you really like to add cadj or just simply change broker.

You either choose the original pairs or the universal pairs that way your Basket Index is hedged. Do not mix and match.

Remember guys we are like trading the Index like Dow Index as to stocks, if Dow is bullish it doesnt mean that twitter or facebook stock will be bullish. Why? because twitter or facebook is not a part of the DOW Index. Like wise just because your Baskets is bullish doesnt necessarily mean that your CADJ will be bullish as well because it is not a part of either basket indices. I hope this explanation is understandable.

Greatly suggested is to go with the C5 as this is the real essence of the basket. Also it is unidirectional pairs. Unlike the original or the universal you always have to consider that some of those pairs should be traded opposite. Hence not unidirectional. Another reason is that the C5 output is higher by 15-20% compare to the 14 pairs because of the 2 pairs dragging it.

Last piece of advice and pls take this with a grain of salt, Youll never learned this method by heart if you conttinually trading demo. Most in this group are demo testing all the time. If it doesnt work then... tweak. When are we going to stop tweaking and actually start trading? There is no perfect system and so far this is the best of the imperfect systems currently.

Just my 2 cents...

Friendly reminder,

Joven
  • #7,398
  • Edited Feb 16, 2014 12:02am Feb 15, 2014 6:37pm | Edited Feb 16, 2014 12:02am
Quoting Dkny
{quote} Hello Alan, cadj was in the original pairs which is being coupled by usdcad but on the universal pairs cadj was eliminated thus usdcad was likewise eliminated. If his broker doesnt have the EC then a new permutation should be conducted if you really like to add cadj or just simply change broker. You either choose the original pairs or the universal pairs that way your Basket Index is hedged. Do not mix and match. Remember guys we are like trading the Index like Dow Index as to stocks, if Dow is bullish it doesnt mean that twitter or facebook...
make sense, thanks for your explanation

i want to add, when i saw IgumzFx post about PA, i thought he was trying to share a possible solution for a ranging market.
he was trying to show a different (better) entry on times like these.

as traders, we are all reminded that the market will not be trending all the time.
even Kos the boss once said we need to be patient at times.
for students (of BTS) like me, its a consolation to know that IgumzFx study also confirmed that the offline charts really work.
so i'm keeping an open mind because we are trading a dynamic market.

stay thirsty my friends...

allan
When the internal struggle ends, everything becomes easy - Mr. Douglas
  • #7,399
  • Feb 16, 2014 2:59pm Feb 16, 2014 2:59pm
Why it is so hard to do something in new MQL, I am crying, build 604 of metatrader. First finding: unbelievable, fantastic. Two days of work: what? Unbelievable again, it is full of bugs! It is OK for easy things but with their "Classes for Creation of Control Panels and Dialogs" uaaaaaa!!! I am programmer for ten years but new build 604... unbelievable ...
  • #7,400
  • Feb 16, 2014 3:08pm Feb 16, 2014 3:08pm
has the problem with build 600 with the t101 constantly reloading the !TLE in an infinite loop been solved? myself and a few others mentioned it but so far there have been no replies on this. it is the same with the bts ea in seller 9's thread. in both cases if you look in the indicators tab and open either t101 (with a !TLE specified) or seller 9's bts ea they will go into an infinite loop of reloading the !TLE

can someone verify this in build 600 who is using !TLE?
4 traders viewing now