Jem's Uber Basket Trading Thread

[theforexedge]

Jemook

One thing I always watch is the DAX & Dow to look for direction - Risk On or Risk Off (London Open / US Open). I trade another system that maybe someone Steve could code based on Envelopes, 14 day Average Range & the direction of the stocks. Anyway great work putting together the Uber Basket System...

[MurphyMan]

Jem, thanks so much for your detailed post and explanations. It's Sunday and I'm getting things set up to try 'er out.

Could you answer a Dummies question? I loaded 10.2 x JemBasket - Main, but my screen looks different than yours. I am not getting the SlopeStrength - v1.0.2, nor is the dashboard showing (but the markets are not yet open).

Any suggestions?

BTW - I have a 27" monitor on the way. My wife is aghast.

Thanks!

Sam

[Kenboi]

Murphyman, you need the SlopeStrength indicator where you can download from Baluda thread I believe and try to change your chart TF to H4 so your chart would be clearer. Looks like i need a 27" or bigger monitor. I am jealous now.

[FreddyFX]

REALLY interesting setup.
Have seen a lot over the years, but this one triggered my interest and will give it a try.

YES, YES, I still prefer scalping the M1, but a man needs to be able to trade with different tools.

[The_Snowman]

Murphyman, you need the SlopeStrength indicator where you can download from Baluda thread I believe and try to change your chart TF to H4 so your chart would be clearer. Looks like i need a 27" or bigger monitor. I am jealous now.

This is correct, that indicator is required, and a slight oversight by Jemook to provide the chart template calling for it but not provided the Indicator in the ZIP file Post 1.

Excellent thread here by Jemook, trying to comprehend it all myself

[Jemook]

Thanks for letting me know snowman. I updated the archive in the first post – here is the correct indicator if you don't want to re-download.

[f451]

Jemook

One thing I always watch is the DAX & Dow to look for direction - Risk On or Risk Off (London Open / US Open). I trade another system that maybe someone Steve could code based on Envelopes, 14 day Average Range & the direction of the stocks. Anyway great work putting together the Uber Basket System...

Care to send me a PM and explain how you identify risk-on and risk-off and what the currency implications are? I've noticed these patterns for a while, but never had anyone able to explain in enough detail to make it tradable...

Also how do you pick which currency is the flight to safety currency of the moment - it keeps switching around, USD, JPY, CHF...

[Jemook]

Update on the basket I opened on Friday:

At Fridays close the basket was +250 pips and is now -100 pips. I'm going to let this run as I'd like to get a feel for letting a basket run to complete TP or complete stop. However if this was on a live account I'd shut it here and take a small hit so I don't risk a full stop out.

If you see a basket moving against you then you should re-assess if it's a good one to keep open. If your long pairs are breaking down under the daily pivot this is a good sign to get out and look for a re-entry again later. Opposite for short pairs. Today all my open pairs opened on the wrong side of the daily pivot which means watch out!

It's very important to cut your losses quick smart.

[SteveHopwood]

It will be fascinating to see if The Gap closes up and the trades resume their merry way.

[xrismak]

Steve,
I have just read this thread AGAIN.... you are a STAR and Jemook is a SAINT.... You Guys just ROCK...