The seemingly impossible: $25-$500

Very cool! I think this is a noble challenge. I think all new forex traders should start with this as opposed to "You need 10000 to start trading, following this system, available for $xxx for a limited time. This teachers you the true fundamentals of trading. I am currently doing a similar thing, I started last week with $200. However, I am just using it to show how you can grow small accounts quickly and huge, without focusing on the secret ingredient that is risk management. Anyway, you can check it out here http://www.forexfactory.com/showthread.php?p=8561968#post8561968

Talk is cheap.
I m wondering...

Phemmy

You are right
forex its not picnic

So, this week I was bored. C5 was going nowhere...

So I decided to skin this Fx Rat another way...I pulled out my C14 setup and check out the results of my tinkering around:



Yep, that's 2,869 pips BANKED!...let's NOT count the floating pips - no point doing that.

And the DD (for those of you DD freaks! Lol) = 0.93% only!


Regards,

Ty

This is what I like to see. Progress!

Phemmy

Do you just follow these rules as per post or do you also look at other factors ie Frankfurt, London sessions, opening times, wait for UK to subside, Major RED news, etc?

Hi Phemmy
I´ve downloaded the folders from post 1 and there is no C14 in there, there is a C5 buy and sell. There is a buy all and sell all is this the C14? Sorry for the question but just started with this thread a couple off days ago.

Hi

How important are the rules to follow exactly if you compare it to the attached screenshot in practical experience.
I know the rules, but would like to get an opinion from experience.

I know the attached is not a good signal to go Long as a whole, but I am attaching it for the individual portions to help showing what I mean.

Assume:
Month Signal = SHORT but rest (Week, Day, H4 and H1 is LONG) - Will you go Long?
See H4= Signal LONG, but only 4 C5 with Blue dot in green section. BUT the last one is close. Will you take it as a go for LONG?
See DAY=No SIGNAL, but C5 in GREEN (or very close)

Something else I'd like an opinion on.
Trader101 (I think it was him) was saying somewhere that he prefer the C14 rather than C5 as it has a higher percentage winning ratio.

I have been experimenting on the demo account with loading C14, let it run a while and then close the higher negative one's which is obviously not going where I want it to go. So mostly the profitable one's stay. So I end up with maybe 8 or so trades which are mostly profitable. the few with smal losses are fine as they can turn.

Any opinion on using this strategy?

Yes, the xxxxALL is the Core14.
If you open the script with the editor/compiler, then you see the pairs and whether they BUY or SELL.

C14
AUDJPY
AUDUSD
CHFJPY
EURCHF
EURGBP
EURJPY
EURUSD
GBPCHF
GBPJPY
GBPUSD
NZDJPY
NZDUSD
USDCHF
USDJPY

Many thanks Poc Trader. I have continued reading further on in the thread and i have just seen that it tell me to drag the C5 / C14 onto the chart to see the pairs and to adjust the lot size.
I have actually made 43 pips today my first attempt. Its a bit difficult as i have to work all day and i am not near a computer so i set small T/P of 20 pips. I figure that is better than nothing og giving it back whilst i work.
Thank to everyone who has inputted to make this a great system.

It's this a valid signal? Or all 5 BTS should point in same direction.

Hello,


A good signal tonight

To those experienced in this method on this thread (Is this strategy still working?)

I would like to get 100% clarity on this strategy and if my below explanation is correct, then maybe this will help other newcomers as well.
I have been testing a bit on a demo account, but hesitant to go and use this on my Live account yet.

Just to explain, I did read this thread numerous times and I did read some of the other related to Basket trading. I am also not new to Trend and Basket trading nor Forex Currency Strength meters.
However, as I am sure we all know, different coders code their currency strength meters differently and they all show different results based on different criteria they use.
My understanding of this Dashboard is to show TREND and STRENGTH and nothing else.

So here we go with the way I see it and some questions.
(Remember that these examples are predominantly GREEN for going LONG. The opposite would have been true if they were predominantly RED and then you would go SELL/SHORT)




As I am limited in number of images to upload as well as the size, I incorporated the little images in one bigger one and named them.
Here the larger collective images first, then the description and references below.




The DAY COLUMN is obviously the ideal signal. C5 in GREEN zone and BTS LONG.
You look at the currency pair with the BLUE diamond behind it and make sure it is in the zones (GREEN for BUY and RED for SELL):

See Image 1
So in this case the Core 5 Pairs are in the upper zone showing GREEN.

If a pair is coloured GREEN, it is a strong pair which can be traded LONG/BUY.
If a pair is coloured RED, it is a strong pair which can be traded SHORT/SELL.
HOWEVER, the very last column with the UP/DOWN coloured arrows show the direction of the pair strength. If the pair is in the GREEN as per GBPUSD shown here, but the arrow is RED and down, then it means that the pair is currently strong for a buy, but it is turning and becoming weaker. Not weak yet, but going down in strength.

See Image 2


HOWEVER, Phemmy mentioned somewhere in response to a question that BTS LONG or BTS SHORT signal is not important. I suppose that signal indicator is based on the WHOLE range of pairs in the list? So the fact that it says BTS SHORT, BTS LONG or NO SIGNAL is NOT important for this threads strategy?

See Image 3
Phemmy also mentioned that the following calculations are NOT important. He doesnt use it.


See Image 4


Now some questions:
How important is the strength DIRECTION indicator in this strategy?


Looking at the next pair. It is in the GREEN zone with the 5 others.
However, the arrow show it is loosing strength. Do you feel it is important in this strategy?
Will you look at say how strong it is although it is weakening?
In other words, if it is fairly high up the list, it is still strong and worth trading, but if it is low in the green zone and weakening, do you then treat it as a NO-GO?
In this sample, GBPUSD is 2nd from the top and still tradeable for a while?

See image 5
The same with the next example: NZDUSD is in the RED zone and therefore not a good signal for a BUY trade, BUT, the currency strength indicator shows it is getting stronger.


See Image 6

In this case it is 3rd highest in the RED zone and therefore bound to get into the GREEN soon.
Would you treat it as in GREEN Zone and place your trades?

See Image 7


Question all together in one place:
We are looking at the CORE 5 in this case.
1. WHEN do you know when to load the ALL script for CORE 14? Do you manually looking at the list and look at their individual strengths and decide to go for it? See that there is no Blue diamond or similar for the 14?
2. Lets say you see the CORE 5 have 4 strong pairs in the GREEN zone and one just below in RED. What would you do?
a. Still trade ALL 5 as a BUY. Because the one in RED shows it is getting stronger.
b. Just trade the 4 which are strong and in the GREEN zone so in other words trade CORE4 instead of CORE 5. Load them manually one by one in this case AUDJPY, EURJPY, GBPUSD, GBPJPY
c. No Trade at all and wait for ALL 5 to be in GREEN zone.
3. How important is the strength DIRECTION indicator in this strategy?
4. Do you just follow these rules as per post or do you also look at other factors ie Frankfurt, London sessions, opening times, wait for UK to subside, Major RED news, etc? I like to stop trading 1 Hour before RED news till 30 minutes after RED news. But is this a good strategy during session open times or should you rather wait for and hour or two after open times when the rush is over?
5. I have been experimenting on the demo account with loading C14, let it run a while and then close the higher negative one's which is obviously not going where I want it to go. So mostly the profitable one's stay. So I end up with maybe 8 or so trades which are mostly profitable. the few with small losses are fine as they can turn.
6. Would you ignore C5 and maybe pick the 5 strongest pairs in the dashboard and trade them? Look at my Dashboard screen capture. AUDNZD and AUDUSD is not CORE 5, BUT very strong and strong in ALL Time Frames from Month to H1. Maybe just trade those two in this example? AUDNZD is not even in the CORE 14. I know this is defeating the objective of basket trading and you may not want to only trade the 2 so you would obviously look for a few more or maybe CORE 5 if the Signal was positive and then ADD the above mentioned 2 so you have 7 trades running? I think that is what Phemmy meant by saying he added additional pairs based on other criteria to his C5/C14.


It is a bit of a long post. Thank you for your time.

Thank you Phemmy for what seems like a good and easy strategy.

To those who are asking questions, I ve answered ur questions over and over again.

Just read carefully through the thread.

U ll find answers to your questions.

Phemmy

I am glad to tell u that u ve a good grasp of the system. Great post. Keep it up!

Phemmy

When do you change the time frame, which number to choose to change it to Daily TF ?

Do you want to change the timeframe of the chart on which you have the dashboard running?
If so, why? I don't see a need for it?

This script you are using is to change the TF for all the current open charts of all pairs, etc.
That value you are showing is minutes.
ie. change to 1 Minute chart = 1
4 hour chart is 4*60=240
Day therefore will be 1440.

C5 buy signal...
Phemmy

Was a fake signal because of BOE dep gov speech ?