Jem's Uber Basket Trading Thread

[kelisa]

People wonder why I share my ideas instead of keeping them to myself. This is the reason why. Guys take ideas and add to them and suddenly I have to begin studying my own system to keep up them. Fantastic, now I will have to study to see if I can wrap my head around my own system and all the different ways it can be used. Excellent job and I appreciate all your contributions. I am going to have to get to some of these other threads. I just cant keep up with it all. Going to take a vacation in about 10 days and trying to get everything for my school open in the fall ready so I dont have it waiting for me when I get back.

Bob, you are the root to all these spin offs. Or someone might address you as the God father,

[Jemook]

I'll be trying to keep this thread as clean as possible which means deleting off topic posts. No hard feelings!! It just makes it easier when newbies come in and don't have a bazillion pages to catch up on (remember Al's TMA Extreme thread, that was nuts). Feel free to PM me though!

[Jemook]

Thanks a lot, Jemook!

My attempt to analyse the market....

I only checked out a few of your setups but it seems you have the right idea. Good luck!

[garyfritz]

NZDUSD daily slope 0,91, no basket trading pair because daily P below weekly P

Thanks for mentioning that. I don't remember seeing anywhere that the daily pivot had to be above the weekly for a long entry, but it makes sense.

[nanningbob]

NZDUSD daily slope 0,91, no basket trading pair because daily P below weekly P

Thanks for mentioning that. I don't remember seeing anywhere that the daily pivot had to be above the weekly for a long entry, but it makes sense.

In my thread section I put up for testing 10.2A by adding the daily pivot and removing the 3 MA lines. Still trying to decided which I like better. The issue that needs to be resolved was my daily pivot will include sunday night moves where other brokers dont have a sunday candle.

[Jemook]

NZDUSD daily slope 0,91, no basket trading pair because daily P below weekly P

Thanks for mentioning that. I don't remember seeing anywhere that the daily pivot had to be above the weekly for a long entry, but it makes sense.

From memory I mentioned this in the extra notes. Definitely a good idea to be careful if they aren't in the correct order (monthly, weekly, daily). Remember basket trading is still all about looking at the setups and knowing what they are doing as per 10.2/a rules.

In my thread section I put up for testing 10.2A by adding the daily pivot and removing the 3 MA lines. Still trying to decided which I like better.

Sometimes the 5 MA gets you in a bit sooner than the DP. I think a DP cross is a stronger signal though. Once it's cleared the daily pivot it should move enough to grab some pips.

[Jemook]

I have open trades from Friday but here's some notes on todays setup looks like if you are keen on jumping in.

2012-06-25 03.55.21 pm.png

1. First off a lot of our pairs have dropped between .7 to .8 instead of greater than .8 - I still classify these as good to trade. I think when it drops between .6 to .7 it might be better to leave it alone. There's always better ones to take.

2. NZDCHF has crossed above daily/weekly pivot. AUDCHF looks like it will follow.

3. AUDCAD, AUDJPY, AUDUSD, NZDUSD have retraced quite a bit. Look for daily pivot crosses but be careful because they aren't in the correct pivot order atm.

4. GBPAUD, GBPNZD monthly support held so far.

5. Seems like we could go either way today so might be better to sit on your hands and wait for the trend confirmation before taking the next setup. You'll know this will happen when the pivots go in the correct order and price goes above / below the daily pivots.

[nanningbob]

I posted some fundamentals on aud and nzd at FF. I expect them to continue to drop after this last rally and will go lower than before.

[Jemook]

Still in drawdown. I've put a stop in for the worst performing trades but still giving them some room to breathe in case they reverse. Hopefully a good way to reduce a bit of risk.

2012-06-25 05.56.26 pm.png

[hansnl]

Do not know about other traders here but I'm not a fan of Monday morning pivots.

I just picked some short euro pairs this morning and have a ShelleyJem look at the market at London close to set up some thing for Asian open to night .

regards,
Hans..