Jem's Uber Basket Trading Thread

[Zool]

I've launched a basket today at 8:00 GMT with the following pairs:
Long: GBPCHF, AUDCHF, AUDNZD, CADCHF
Short: EURAUD, EURCAD, EURGBP, EURJPY

The ShelleyNow settings was 30 pips for the adaptive take profit and stop loss. The adaptive breakeven was 15 pips with 5 pips locked in, adaptive jumping stop was set to 5 pips.
The basket closed at 9:36 GMT with around 80 pips profit. The high water mark was around 160-170 pips, the low was around 85 pips. The basket closed just before all of the pairs reversed in direction. 6 from the 8 pairs bounced off from the daily/weekly pivot. Is the market changing direction? It seems to me that all the pairs are going strongly in the opposite direction of the D1 tma slope.

[cmeade2]

The best trades today were following the TMA slope on the H4 and playing the 5.1 cross. The basket, started after the US GDP numbers this morning is now over 400 pips.

Long, NZ/J, E/U, Ch/J, Cad/J, G/J, E/Gbp

Short Au/NZ

[Zool]

The best trades today were following the TMA slope on the H4 and playing the 5.1 cross. The basket, started after the US GDP numbers this morning is now over 400 pips.

Long, NZ/J, E/U, Ch/J, Cad/J, G/J, E/Gbp

Short Au/NZ

How did you decided to follow the H4 TMA slope instead of the D1?

Looking at the daily charts the pairs I mentioned in my basket are bouncing around the LWMA in the last couple of days. Bob wrote in the 10.2 booklet, that if the price on the daily is on both side of the moving average, that means a ranging market. The TMA slope is above/below 0.6 on these pairs, while it bouncing around the MA - so they're giving different readings. Which one is 'stronger'? Does it make any sense to look on the H4 TMA slope in this situation until the D1 slope adjusts itself to the (possibly) new direction? Or we are witnessing only a larger correction?

[cmeade2]

The best trades today were following the TMA slope on the H4 and playing the 5.1 cross. The basket, started after the US GDP numbers this morning is now over 400 pips.

Long, NZ/J, E/U, Ch/J, Cad/J, G/J, E/Gbp

Short Au/NZ

How did you decided to follow the H4 TMA slope instead of the D1?

Looking at the daily charts the pairs I mentioned in my basket are bouncing around the LWMA in the last couple of days. Bob wrote in the 10.2 booklet, that if the price on the daily is on both side of the moving average, that means a ranging market. The TMA slope is above/below 0.6 on these pairs, while it bouncing around the MA - so they're giving different readings. Which one is 'stronger'? Does it make any sense to look on the H4 TMA slope in this situation until the D1 slope adjusts itself to the (possibly) new direction? Or we are witnessing only a larger correction?

Looking at the charts and the discussion on this web site, it seemed pretty clear that all of the pairs with high TMA slopes on the D1 have been in large scale retracement, almost all week. The only day that the D1 trends seemed to be valid was Tuesday (but then they retraced again at the end of the day).

In that sort of situation, I take the attitude that the D1 trend information (from the TMA), is not valid/profitable. And so I looked the next level down at the H4 and this morning Baluda's table showed a large number of pairs with very high TMA slopes. And looking at individual charts there were a number of good setups on the H4.

I'm not sure where he says it, but Bob has written about the value of moving to lower timescales if the D1 is retracing.

[hansnl]

Hi all, Just want you to know that this is just my holiday basket to test MTBM
the entrée was around London open at 23-07 and never saw a glimp of green.
After the basket passed my not working stop loss setting at -1000 I did put on some recovery trades.
Now just before the weekend I took them off with a few 100 pip profit to reduce my exposure
Basket size is now back to 10 positions and hovering at -1100 pips.
As you can see the maxi DD was 2200 pips and I will leave it like that over the weekend.

Be aware that this is not the a recommendation to trade this way , but more to show you my attempt to move my ass out a difficult situation.

So for today I scored a nice profit with my recovery trades and still have -1100 open DD to handle next week..

Nice weekend to all..

Hans..

P.S. Baluda wrote:New version MPBM, v1.0.1, Trades will now close as expected. Issue fixed.

[Armen]

Hello Hans,

If I may give my 2 cents.
Following EUR most of currencies are in big correction now. So, it is (IMHO) better to enter and exit on DP/WP cross. Of course level of S/R also should be regarded.
Personally, I am considering to enter and exit with small pips on every currency in the basket - about 20 until currencies return to the major (weekly) trend presumably in September.
Cheers,
Armen

[Jemook]

After Mondays stopped basket I waited for the Friday setup which is currently up around +800 pips. (edit: now closed for +1000 pips)

2012-07-30 08.22.27 pm.png

I also have 5500 open pips on the table – I expect this to reach up to +8000 by the end of the week or I may close all at around this level depending on what the market shows over the next few days.

2012-07-30 11.24.42 pm.png

Hope everyone is trading well.

Jem

[VirtualFM]

After Mondays stopped basket I waited for the Friday setup which is currently up around +800 pips. (edit: now closed for +1000 pips)
I also have 5500 open pips on the table – I expect this to reach up to +8000 by the end of the week or I may close all at around this level depending on what the market shows over the next few days.

Hope everyone is trading well.

HAHAHAHHAHAHA...


Aham... Sorry, nervous laugh...

[Thunder123]

Hey Jem,

What made you enter on Friday?
All week the price action was very choppy, and it seemed like you had several entries throughout the week to enter, but the trend was not there. I would be reluctant to enter on Friday, based on previous week. Obviously you timed the entry perfectly (as usual). Any tips?

I held my basket from last week, up 600 pips but the drawdawn was too much. Perhaps SL is indeed needed.

Thanks

[Jemook]

Hey Jem,

What made you enter on Friday?
All week the price action was very choppy, and it seemed like you had several entries throughout the week to enter, but the trend was not there. I would be reluctant to enter on Friday, based on previous week. Obviously you timed the entry perfectly (as usual). Any tips?

I held my basket from last week, up 600 pips but the drawdawn was too much. Perhaps SL is indeed needed.

Thanks

It wasn't a perfectly timed entry at all actually! Fridays basket initially went against me an average of -51 pips per pair or a total of ~800 pips DD. My stop was higher than that so it didn't get hit and I was still in the trade when the trend resumed. Record the max dd for your baskets so you know how far against you they move before going into profit again and try and keep your stops out of that range. Also make sure you aren't risking too much per basket.