Jem's Uber Basket Trading Thread

[Geges]

Seems to be working Fine

[censura]

My Basket is currently 631 so the 1,000 initial target is getting closser , I added 4 more trades on pullback yesterday and now all 4 in profit (The rules as i understand them that on slope strength of +- 0.8 add / stack positions on retracements / cross back of daily pivot line. Hopefully will be able to say 1,000 pips hit today and then will assess what to do. Think this is the hard part as 1,000 pips is a reasonable amount of pips, the first trades were placed on the 3rd so the basket is just over a wk old.

Keep you posted

[cmeade2]

My Basket is currently 631 so the 1,000 initial target is getting closser , I added 4 more trades on pullback yesterday and now all 4 in profit (The rules as i understand them that on slope strength of +- 0.8 add / stack positions on retracements / cross back of daily pivot line. Hopefully will be able to say 1,000 pips hit today and then will assess what to do. Think this is the hard part as 1,000 pips is a reasonable amount of pips, the first trades were placed on the 3rd so the basket is just over a wk old.

Keep you posted

Can you post your basket?

[gms]

Seems to be working Fine

I am watching those pairs. But this watch basket is in draw down now ....

[The_Snowman]

Seems to me that both the EUR pairs and AUD pairs are at interesting crossroads, both having a tug of war over which will be the strongest pair; wouldn't it be great if EUR weakens as everyone has been expecting for long time, and the AUD strengthens on fundamentals?

I think we can see that happening on the EUR-AUD cross now, NB says it is a BUY on the Daily chart is is above the Monthly Pivot, but slope is down, has come off resistance, below 200 EMA.

On the 4H chart, there is double top (?) and cannot rise above Weekly Pivot.

The 1H shows price below Daily Pivot, below weekly open; any ideas, thoughts, comments? Too hard to call?

Regards, John

[mandj19]

It's been great to follow the development of N10.2 over the last couple of months. Finally I may have found a higher timeframe strategy to wean me away from my disgusting scalping habit. Here are the results of trading an adaptation of Jem's basket trading on my micro account over the last couple of days:

dash.png

Firstly I have created a dashboard based on both D1 and H4 versions of Baluda Slope Strength. I remove the non-trending pairs by specifying them in the background colour. When my new broker day starts at 22:00 I select those pairs for the next day's basket. A pair must appear in both the D1 and H4 panels. When I set up the basket I also weight it towards pairs which are trending strongly on both timeframes eg EURUSD over this last few days.

Over the last couple of days I manually entered (most of) my trades before Frankfurt open at 07:00. I did not specifically look for a daily pivot or 5.1MA cross. The trades were managed as a basket with a 'Take Profit' equating very approximately to an average of 40 pips per pair. Here are the two day results (Ignore the last 3 trades where I was stopped out trading retracements from the previous day).

results.png

I have been more used to trading the sub-hour timeframes. July was great scalping the down trend on EURUSD but August was a nightmare as EURUSD movements became much less predictable. This daily basket trading cycle is much less stressful and based on these results I am encouraged to continue a more exhaustive test over several weeks.

My thanks to all contributors, Jem, Baluda, and of course Nanningbob and Steve Hopwood who have provided the context for this method.

[forex.rapheal]

hi mandj19,
can you explain in details how do you 'remove' the pairs "not in trending:? What is the next step? do you place your order only once a day? currently i place my order once a day at every morning. i still need to refine my skill on that.
tks

[The_Snowman]

forex.rapheal - to "remove" pairs, he means to set the color to the same as your chart background, in the settings, they are still there, you only see blanks, check this pic

manjdj19, Awesome first post & Awesome method, I am on to it like a rat on a cheeto

[gms]

Firstly I have created a dashboard based on both D1 and H4 versions of Baluda Slope Strength. I remove the non-trending pairs by specifying them in the background colour. When my new criminal day starts at 22:00 I select those pairs for the next day's basket. A pair must appear in both the D1 and H4 panels.

I have a similar approach and made a small tool to show me TMAslope confluence for all pairs in the Comments corner at first sight.

In case you want to use it, put it in the EA folder ...

gary

[Bruce]

I have a similar approach and made a small tool to show me TMAslope confluence for all pairs in the Comments corner at first sight.

In case you want to use it, put it in the EA folder ...

gary,

The Comments are only showing eurusd gbpusd usdchf but not showing others that have confluence. For example eurjpy right now.
Do the others show on your platform?

Bruce