Thank you so so much for the hard work you have put into this new basket system. It's so clear and simple enough for everyone of us to understand. I am sure this is a very good start from here. Thank you, once again
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| Jem's Uber Basket Trading Thread https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=640 |
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| Author: | Kenboi [ Fri Jun 22, 2012 3:10 am ] |
| Post subject: | Re: Jem's Uber Basket Trading 10.2 Thread |
Thank you so so much for the hard work you have put into this new basket system. It's so clear and simple enough for everyone of us to understand. I am sure this is a very good start from here. Thank you, once again |
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| Author: | dentiok [ Fri Jun 22, 2012 4:07 am ] |
| Post subject: | Re: Jem's Uber Basket Trading 10.2 Thread |
Jemook, very good and clear explanation, thank you a lot- |
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| Author: | Jemook [ Fri Jun 22, 2012 4:17 am ] |
| Post subject: | Re: Jem's Uber Basket Trading 10.2 Thread |
After the Retracement Setup I posted on the last page we now have the Trigger Setup. AUDJPY, NZDJPY, AUDCHF, EURAUD have touched the 5.1 MA. NZDCHF, NZDUSD, AUDUSD,AUDCAD, GBPAUD, GBPNZD, EURNZD are very close to touching the 5.1 MA. That's good enough for me. Basket launched. Your freshly launched basket will always start in drawdown as we lose a bunch of pips per pair from spread. Price could bounce from the daily pivots so I'm also expecting a bit more drawdown with this. Time to walk away, will report back later. |
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| Author: | f451 [ Fri Jun 22, 2012 5:31 am ] |
| Post subject: | Re: Jem's Uber Basket Trading 10.2 Thread |
Jem Have you considered using fibs to check if a retracement has finished or is likely to finish? Fib on the latest daily swing high and swing low in the direction of the trend, looking for bounces back into the trend at 38.2, 50 or 61.8 % - these are pretty commonly used (especially in trends) so might make good trigger levels for individual trades... in fact on reflection, the 23.8% level might be worth watching in strong trends (i.e. what we're looking at) too final thought - it you have the single currency indexes (e.g. like lite Forex has USD, EUR, GBP, AUD, JPY indices as feeds), then you could trigger your crosses based on the base currency hitting a fib retracement level on the daily chart BTW - I'm happy to delete this post if it's too off topic cheers Simon |
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| Author: | Binyamin [ Fri Jun 22, 2012 6:06 am ] |
| Post subject: | Re: Jem's Uber Basket Trading 10.2 Thread |
Thanks Jem! |
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| Author: | Jemook [ Fri Jun 22, 2012 6:28 am ] |
| Post subject: | Re: Jem's Uber Basket Trading 10.2 Thread |
Hey buddy, Nothings too off topic in my books. I'm open to any suggestions but I'll be more interested if you test out your suggestions first for a couple of weeks and show me results. If you understand all the conepts (and I know you do) then feel free to adapt it any way you want and let me know how you go! Personally, I'm still testing this so I'd like to not change anything atm. Good luck! I'm off 'til Sunday, catch you guys later. |
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| Author: | kelisa [ Fri Jun 22, 2012 8:45 am ] |
| Post subject: | Re: Jem's Uber Basket Trading 10.2 Thread |
Thanks Jem...great refinement u got here. Will see what is does now till NY. |
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| Author: | youcrazykids [ Fri Jun 22, 2012 10:50 am ] |
| Post subject: | Re: Jem's Uber Basket Trading 10.2 Thread |
Hey Jemook A quicke regarding the retraces. You stated that: SHORT PAIRS (below .8 on daily) RETRACE A– Price should retrace to the daily pivot OR above the daily pivot RETRACE B– Price should retrace above the 5.1 MA LONG PAIRS (above .8 on daily) RETRACE A– Price should retrace to the daily pivot OR below the daily pivot RETRACE B– Price should retrace below the 5.1 MA When you say that the price must retrace to the daily pivot (both long and short trades), must it touch the pivot, or is there a threshold (say 10 pips away from the pivot) into which the price can venture? It's exactly these little details which will help when the (inevitable) new EA emerges. Thanks youcrazykids |
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| Author: | Verto [ Fri Jun 22, 2012 1:09 pm ] |
| Post subject: | Re: Jem's Uber Basket Trading 10.2 Thread |
Looks great Jem I can't wait to test it out next week and month. |
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| Author: | forexripper [ Fri Jun 22, 2012 2:52 pm ] |
| Post subject: | Re: Jem's Uber Basket Trading 10.2 Thread |
Wow!!! what teachers we have here. NN and now Jemook great work. I kind of have the same process of identifying which pairs to trade (dashboard used) an dthen look for retracements and triggers. The only issue with me is of time. I am in Toronto so can see Asian retracements but triggers in London session I am asleep. I was therefore looking for an EA to do this kind of work (Jemook process) for me but so far no luck. So what I do is either place pending orders at possible trigger places or take trades NY session. BTW, I am trading NN10.2 live now (since yesterday). |
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