Jem's Uber Basket Trading Thread

[wingate]

Firstly a special BIG thank you to NB for bringing this method to all of our attention. Secondly again a BIG thank you to Baluda and Neotrader for your excellent indicators! Last but not least to everybody for contributing with their own twists on this excellent system for trading baskets.

I would like to throw a different idea into the mix which I thought of on thursday evening. For some time now I have been a BIG fan of offline charts, infact I use them all the time with regards to basket trading, I find them invaluable. My Idea is simply this, instead of monitoring individual charts of the qualifying 'watchlist' of pairs waiting for individual trigers then why not make up 2 offline charts (one for the 'qualifying' buys and one for the sells). You then only have to monitor 2 charts and launch the basket/s ie 'buys' and 'sells' if and when you get the trigger?

To try this out I set up an offline chart of the qualifying 'sell pairs x8' on thursday evening (please see below). I immediatly lanched the basket and by close of trading yesterday I had 7 out of 8 winning trades . The red vertical line shows where the PA was had you have set up the chart at London open on monday last week. I plan to experiment further with this idea next week and will report my findings if they prove to be successful.

One other idea which I will also be playing with in conjunction with the above is this. When I have made up my 2 offline charts of the 'qualifying watchlist pairs' on monday morning I will immediatly 'buy' or 'sell' the pairs in the 2 demo accounts. That way I have a 'visual' take on the 'profit' or 'loss' of the basket as well as the charts to guage my entry point.

I hope the above makes sense, if not just shout if interested. Good luck to everyone next week!

Kevin.

[philcs65]

Interesting idea. How does one setup such off-line charts?

[SWG123]

I was wondering the same. Don't you just hate it when someone comes along and adds to the body of things you don't know? Actually, I know there are things I don't know, but until now this was something I didn't know I don't know. Which is even worse.

[The_Snowman]

I hope the above makes sense, if not just shout if interested. Good luck to everyone next week!

Kevin.

No, no sense at all, I have used "offline" charts extensively also. However, the aim was to Time Shift a Daily chart so the closing bar matched New York time on a daily basis - this was only ever done on a pair by pair basis, chart by chart.

Seeing the very high number in the price axis, it seems that you have rolled all sell pairs price into 1 chart - this is where you have lost us; pleas explain, pictures may be required.

[dentiok]

wingate, is it a kind of average of "sell basket" in one offline chart and "buy basket" in another offline chart?

[RockyJ]

I'm with Snowman here, a little more explanation of what it is we are looking at here. Are the candles some kind of composite made up of multiple pair?

And if so how would this be constructed...

oops,, I see you are already replying, ok, how is this done in the offline charts.

[wingate]

Hi,

Sorry should have attached the offline indi doh... Put it into the indicators folder then open it up in the editor. scroll down the code and you will see a list of case numbers ie 'case 2'. Choose anyone it doesn't matter then simply insert your desired pairs. Make a note of the 'case number' that you changed and then recompile.

Open up a chart (I use the eurusd but does not matter) and download history by holding down the home button or page up keys. Drag the recompiled indi onto the chart and open properties. Change the case number (14 default) to the case nuber you wrote down earlier then click ok. If you have done everything right so far then you will have a label at the bottom right of your chart which says ##T101##RUNNING, with me so far Savvy?

Final step coming up, Go to file/open offline (top left of screen) and from the list select the 'offline chart' you have just made. It will read ##T101## and be at the top of the list so you cannot miss it Congratulations you have now made an offline chart of all the pairs on 1 chart

If you just made an offline chart for the 4HR timeframe, in order to view the pivots and slope values on the DWM then you will first have to repeat the above making individual offline charts for the other timeframes first and then select and open them.

Hope that made sense, if not sing out.

Kevin

[wingate]

Just posted and realised a few of you have started asking questions. Now before you all get technical on me, let me say I am not a coder, programmer or technical boffin All I can say is I have been using it for ages and I find it most useful and accurate enough for me! Perhaps someone with a little more mouse could delve into the indi's inner workings to find out more if it was thought to be beneficial? In simplistic terms you should be looking at an averaged chart based on the pairs imput, well at least that is the way I view it.

[RockyJ]

Interesting, thank you very much.. I had planned to spend the morning working to come up with a method to simplify recognizing the pullback movement of the multiple pairs, and here you are with this interesting approach.. will give it a look see. Your method seems like a reasonable approach to the subject imo.

[wingate]

Thanks Rocky,

Just trying to give back in some small way One other thing you need to be aware of is you can only make up one 'set' of offline charts per platform hence the need for 2 demos if the 'watching pairs' contain both 'buys' and 'sells', not sure if I made that clear in my previous posts.

Anyways sing out if you have any problems.

Kevin.