Jem's Uber Basket Trading Thread

[feucht]

I was playing about AdaptivePipsTP at 75 (though could go higher), AdPipsSL at 50, AdBreakeven at 20, AdBreakevenLock at 10 and a AdJumpingSL of 5. In an ideal world I would like to start the JSL at something higher and squeeze it down as we approached the TP.

I think the big advantage with your approach Jem is that if we have already waited for a retracement to near a limit, then our SL can be smaller, as if we are seeing DPs being strongly crossed in a lot of basket pairs then we assume we are having a bad day, get out cheaply, and wait for reentry on a recross of the DPs.

[NeoTrader]

hi jemook,

I'd love to hear some ideas on breakeven + jumping stops used with this system.

First of all I want also applause to your wonderful explanatory description of your strategy and also all the time you put in here to describe the setups and how you trade...very appreciated.

Regarding your question about SL and TP...I am using most of the times latest swing high/low points for SL and the difference in pips between my entry and the SL as start for my jumpingTP (1:1 RR).
If jumpingTP is hit the first time I put my SL to Brakeven (No more Risk in Trade).
Then I move the jumpingTP 10 pips further. If it is hit move the SL 10 Pips and also the TP again.
I do this till the tma shows weakness (goes below 0.8 or 0.4 Level) or the diff changes direction and also if I am near a major pivot point.
I then switch to 5 Pips with the jumpingTP and jumpingSL 10 pips behind (close the gap and save the pips already in the pocket).
I also use the TMA True 2.1 Indicator ... if the directional movement crosses the outer bands back in the direction to the center band it is time to think about exiting...
I can reenter anytime if the strength is increasing again...preferably after a nice retrace...

hope you can use something of it...and i hope that it is understandable..

happy trading,

NeoTrader,

-

[kelisa]

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.

Just wanted to requote myself here. I can't stress enough how important it is to not be afraid to close basket that shows signs of weakness. You need to be able to judge the market and be a smart 10.2 trader for this!! Everything works in tandem and you will see sure-fire signs that a basket is turning to shit on all the pairs. Here are some example warnings.

Sign #1: Almost all of our basket pairs have weakened the .8 threshold. Everything moves in tandem. I'm not 100% sure yet but when everything goes off the .8 threshold this might indicate a reversal of currency strength.

Sign #2: Monday open on the wrong side of the daily pivot and didn't really break above on most pairs.

Sign #3: H1 Currency Slope Strength were showing diverging lines and strength in the wrong places.

Sign #4: Pairs such as the AUDUSD bounced off the Monthly Resistance 1.

I had plenty of opportunities to shut my basket today for a small loss but I didn't and now it's looking like a full stopout on this one. I still need to work out the best money mangement policy for this strategy. Should I TP when I see some? Or should I wait for a full TP/full SL? For now the only answer I have is the charts tell a story and you need to be able to read it. If you want to know how to read it study 10.2 & 10.2a!

Jemook - As on Friday's basket trades, I also followed your decision on those pairs, and I set my AdaptiveTP to 20, AdaptiveSL no change and increase lot size, and therefore my basket was closed within the 2-3hours mark.

I think the objective of firing ShellyNow is:

1. Align all tradable pairs BUY/SELL
2. Wait for the retracement back into the 5.1MA
3. Catch the volatility during market openings.
4. Close the basket.

[SteveHopwood]

Jem, your 'info' template confuses the heck out of me. For whatever reason, there are labels for the monthly pivot and associated sr levels, but bugger-all else. I am left having to use mouse-hover to work out what any of the umpteen other lines are about.

Anyone happen to have indi's that:

• - simply draw the daily/weekly/monthly pivots.
  - label them.
  - whose pivot calculations bear a passing resemblance to those used in 10.2

[spyderman]

Hey all,

First off, thanks to everyone who's putting in such hard work on the 10.2 and especially Jemook now with the basket strategy.

I'm U.S. CST time zone so, like Gary, don't know if I can implement this strategy until an ea is born.

In any case I'm trying to set up my charts and at least getting them looking right.

Here's my attempt at matching your chart setup Jemook. It seems right but I notice the numbers for the slope are quite a bit different than yours. Don't know if they could move that much in a few hours or not as I'm not yet that familiar with the indi.

Quick question on the setup. Am I right in assuming we look at the TMA D1 slope on one of the standard (i.e. 10.2a) templates and then switch over to your Basket info templates for the retrace,trigger?

Look forward to following along.

[fxozgirl]

Jem, your 'info' template confuses the heck out of me. For whatever reason, there are labels for the monthly pivot and associated sr levels, but bugger-all else. I am left having to use mouse-hover to work out what any of the umpteen other lines are about.

Anyone happen to have indi's that:

• - simply draw the daily/weekly/monthly pivots.
  - label them.
  - whose pivot calculations bear a passing resemblance to those used in 10.2

Steve, I found the same, so chose to simplify the template somewhat, (also found the lines were a bit light for my old eyes) by using NB's 10.2a template and added the 5.1 MA to the template

[fxozgirl]

Jemook - As on Friday's basket trades, I also followed your decision on those pairs, and I set my AdaptiveTP to 20, AdaptiveSL no change and increase lot size, and therefore my basket was closed within the 2-3hours mark.

Jemook I agree with Kelisa, when trading Shelley EA I set my adaptive TP to 25 and the baskets were closing regularly & consistently.
I think ideally, let's get in & get out...we can always get back in again if the trend is continuing and the entry criteria remains valid.

[SteveHopwood]

Jem, your 'info' template confuses the heck out of me. For whatever reason, there are labels for the monthly pivot and associated sr levels, but bugger-all else. I am left having to use mouse-hover to work out what any of the umpteen other lines are about.

Anyone happen to have indi's that:

• - simply draw the daily/weekly/monthly pivots.
  - label them.
  - whose pivot calculations bear a passing resemblance to those used in 10.2

Steve, I found the same, so chose to simplify the template somewhat, (also found the lines were a bit light for my old eyes) by using NB's 10.2a template and added the 5.1 MA to the template

Hehe. Shelley, I have no idea anymore whom NB is, never mind what the 10.2a template is or where to find it.

Do a tired, daft old duffer a favour please and post a usable, meaningful template that means something to someone not actially inhabiting Bob and Jem's innermost thoughts. I am finding it impossible to draw together all the individual threads here and am losing the will to live.

[spyderman]

Do a tired, daft old duffer a favour please and post a usable, meaningful template that means something to someone not actially inhabiting Bob and Jem's innermost thoughts. I am finding it impossible to draw together all the individual threads here and am losing the will to live.

Steve,

Think this is what fxoz is referring to.

[fxozgirl]

Do a tired, daft old duffer a favour please and post a usable, meaningful template that means something to someone not actially inhabiting Bob and Jem's innermost thoughts. I am finding it impossible to draw together all the individual threads here and am losing the will to live.

Steve,

Think this is what fxoz is referring to.

Cheers Spydie...that's what I'm using