Jem's Uber Basket Trading Thread

[kelisa]

My thoughts are on this too Will. Getting the trade direction right, I believe many of us are able to do now, with such great tools. The only concern is when to close em. I guess we can add orders daily on minor retracements and only decide to close when price retraces deep into 5.1 on D1.

I am sure Jem has this well thought out already, its his other trick up his sleeve, not reveal yet.

[Armen]

Exit points are may be more important now. We have learned where to enter with this system. The entry points sometime are so accurate that right after getting in the market it goes your direction.
As to me closing on deep retrace to 5.1 on D1 is a best approach for now. But, deep retrace to 5.1 usually means 70 or more pips which is in the basket case will total to a lot more.
Well, again we need some combination of indis or techniques (like Elliott wave analysis) or construction of supply and demand zone to more precisely (if it is possible) spot the consolidation or reversal.
...
Just a thought

[nonlinear]

I ended waiting for the "majority bounce" off the large retraces and eventually opened two baskets manually that are now all green. To my surprise, all but one of the CSS H1 for each pair in my baskets have crossed and are diverging nicely. I am going to see what happens if I hold theses until the majority of pairs cross on CSS H1. Jem, you rock.

[dentiok]

Exit points are may be more important now. We have learned where to enter with this system. The entry points sometime are so accurate that right after getting in the market it goes your direction.
As to me closing on deep retrace to 5.1 on D1 is a best approach for now. But, deep retrace to 5.1 usually means 70 or more pips which is in the basket case will total to a lot more.
Well, again we need some combination of indis or techniques (like Elliott wave analysis) or construction of supply and demand zone to more precisely (if it is possible) spot the consolidation or reversal.
...
Just a thought

May be this supply and demand zones by Stevefx could help a lot in target.
I mean, mix Bob10.2a/Jem + SteveFx Happs
I've been studying them for six months and I find very precise and reliable areas.
A defect may be the visual saturation of the charts, but who cares if it helps the analysis of exits/targets and perhaps to strengthen the desicion of entry areas.
When you have the opportunity to make an analysis of this "mixture" charts, please note the strong relationship of the 10.2a pivots with these S/R areas.

you can find here: http://www.forexfactory.com/showthread.php?t=259419

[forexripper]

I have said it before and will repeat myself here.
Exits could be at cyclical turns which show S&R. Also, noticed that histogram of WOH 2x1 is also a good indicator of price retracing and one should exit. I am watching both for my exits instead of taking a basket TP / SL approach.

Hope this helps.

[SWG123]

I ended waiting for the "majority bounce" off the large retraces and eventually opened two baskets manually that are now all green. To my surprise, all but one of the CSS H1 for each pair in my baskets have crossed and are diverging nicely. I am going to see what happens if I hold theses until the majority of pairs cross on CSS H1. Jem, you rock.

Happens all the time.

[nonlinear]

On exits, without trying to complicate the system, I see the following options that have all been discussed on this forum or FF: (1) exit based on risk/reward and reenter on the next retrace; (2) exit based on average market moves and reenter on the next retrace; (3) exit based on support/resistance/pivot/fib or whatever level you like to watch and reenter on the next retrace; (4) exit based on CSS and slope analysis on a lower timeframe and reenter on the next retrace or the next setup; (5) exit when D1 slope heads into range and wait for the next setup. Options 1-3 appear to net steady pips but miss large moves. Option 4 seems like a decent compromise, but will miss some moves. Option 5 should catch the entire move, but it will be difficult to avoid that last reversal. It will take some testing to figure out, statistically, the best approach. I am just throwing these out together for discussion. Maybe it just comes down to trading style.

[forexripper]

how is everyone doing on their baskets. Things are reversing it seems. Will wait for exit triggers and close basket but till then will hang in there.

[niepce]

I see people loaded their baskets with USDJPY short, don't you worry about its slope being around -.41 -.43 ?

Do you still enter a pos after a bounce despite slope has decreased by half or so ?

[harry45]

I see people loaded their baskets with USDJPY short, don't you worry about its slope being around -.41 -.43 ?

Do you still enter a pos after a bounce despite slope has decreased by half or so ?

It`s normal,see att.pic.H1 impuls moving from UP to Down.