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Jem's Uber Basket Trading Thread
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Author:  sohel0402034 [ Mon Jul 02, 2012 4:37 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
spyderman wrote:
sohel0402034 wrote:
spyderman wrote:Just an update on my basket as I rise and shine this morning. I didn't enter correctly last night as Jemook pointed out, but I came out okay so far. Basket is up 220 pips so far. Don't really know what to think.

As you can see in attached, on Aud/Chf and Eur/Aud, if I'd waited for price to come down under 5ma or to hit pivot, they never would have. Aud/Usd would have been a more traditional trigger. Does that look correct Jemook?

If its possible, pls share ur black template.
No problem.

You'll also need these indicators, most of which you probably have.
The FXPT dashboard was written for me by a coder at FF. It keeps track of all orders that are not at BE or better. Helps me with different strategies I employ where I hold positions long term.
I also modified the iProfittracker.
Thank u very much for ur share.
Author:  spyderman [ Mon Jul 02, 2012 6:32 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
Jemook wrote: Here is a screenshot of AUDUSD to show areas which gave us a decent retracement.

In regards to "sitting on pivots" it just means that (for a buy) price didn't break below the daily pivot and is sitting on it.
So in your experience (I've only been looking at this a few days) you would see those types of retracements and still have the Daily TMA in tact (by that I mean staying above .6)?
Author:  spyderman [ Mon Jul 02, 2012 8:18 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
fxprotrader wrote:
spyderman wrote:
If its possible, pls share ur black template.

No problem.

You'll also need these indicators, most of which you probably have.
The FXPT dashboard was written for me by a coder at FF. It keeps track of all orders that are not at BE or better. Helps me with different strategies I employ where I hold positions long term.
I also modified the iProfittracker.
Theres a newer version(v1.06) of iExposure from Baluda at http://www.stevehopwoodforex.com/phpBB3 ... f=45&t=629

It has some basket features that the version you have does not.
Thanks FXPro,

Got it now.
Author:  Jemook [ Mon Jul 02, 2012 9:05 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
spyderman wrote:
Jemook wrote: Here is a screenshot of AUDUSD to show areas which gave us a decent retracement.

In regards to "sitting on pivots" it just means that (for a buy) price didn't break below the daily pivot and is sitting on it.
So in your experience (I've only been looking at this a few days) you would see those types of retracements and still have the Daily TMA in tact (by that I mean staying above .6)?
You're gonna have to re-read the thread champ, I've spoken about this all over the place including the first post. If you still can't find the answer let me know ;)
Author:  will80 [ Mon Jul 02, 2012 10:16 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
I also entered my basket prematurely this week and came out with a small profit, this morning however I am seeing proper retracement beginning to occur on most of the pairs which is what I believe Jemook refers to as the market 'synching' up. Should the strength of the trend continue to stay over 0.6 and -0.6 I think the gains will be much larger so i am willing to wait.....
Author:  SteveHopwood [ Mon Jul 02, 2012 10:25 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
will80 wrote:I also entered my basket prematurely this week and came out with a small profit, this morning however I am seeing proper retracement beginning to occur on most of the pairs which is what I believe Jemook refers to as the market 'synching' up. Should the strength of the trend continue to stay over 0.6 and -0.6 I think the gains will be much larger so i am willing to wait.....
Yep. There are times when sitting on your hands is the best thingy to do.

In these situations, an all-consuming hobby is what is needed. I code EA's. :lol:

:D
Author:  The_Snowman [ Mon Jul 02, 2012 11:24 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
spyderman wrote:
Jemook wrote: Here is a screenshot of AUDUSD to show areas which gave us a decent retracement.

In regards to "sitting on pivots" it just means that (for a buy) price didn't break below the daily pivot and is sitting on it.
So in your experience (I've only been looking at this a few days) you would see those types of retracements and still have the Daily TMA in tact (by that I mean staying above .6)?
Jemook has given an excellent example of retracement on that 4H chart; in fact, I read somewhere, long ago, that a break of a trend line on a 4H chart is probably the best signal you can find in Forex.

Eyeball plenty of 4H charts & you will get the idea, draw the line at the 2 lowest points you can find, see what happens to price when it break through?

As for the question about Daily TMA, watch the GBPAUD & GBPNZD right now in real time. The GA is bouncing around 0.6 on Daily as it attempts a retracement to the WP, while the GN is having even harder struggle as it is at 0.75.

Both of those have all the pivots in correct order right now, are in strong down trend and should be great signals after pullback on the 4H charts, GA may not qualify on Daily TMA perhaps, wait & see

:)
Author:  spyderman [ Mon Jul 02, 2012 11:51 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
The_Snowman wrote: Eyeball plenty of 4H charts & you will get the idea, draw the line at the 2 lowest points you can find, see what happens to price when it break through?
Yes, thank-you. I understand what a retracement is ;)
My question was more that with such a significant retracement it would seem like the other factors that would validate the pair as a tradeable pair would fall out of place. All just watch and see how y'all do it.
Author:  f451 [ Tue Jul 03, 2012 12:54 am ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
spyderman wrote:
The_Snowman wrote: Eyeball plenty of 4H charts & you will get the idea, draw the line at the 2 lowest points you can find, see what happens to price when it break through?
Yes, thank-you. I understand what a retracement is ;)
My question was more that with such a significant retracement it would seem like the other factors that would validate the pair as a tradeable pair would fall out of place. All just watch and see how y'all do it.
Yes. And that is EXACTLY what you want. Deep retracements should FAIL to hit the entry criteria (break back across daily pivot or 5.1 MAs) until they stop being retracements as price switches around to re-confirm the trend. If the retracement does continue until it becomes a NEW TREND or RANGING behaviour, then the TMA slope should change to keep you out of the trade too. Again, exactly what you want.
Author:  spyderman [ Tue Jul 03, 2012 12:57 am ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
f451 wrote:
spyderman wrote:
The_Snowman wrote: Eyeball plenty of 4H charts & you will get the idea, draw the line at the 2 lowest points you can find, see what happens to price when it break through?
Yes, thank-you. I understand what a retracement is ;)
My question was more that with such a significant retracement it would seem like the other factors that would validate the pair as a tradeable pair would fall out of place. All just watch and see how y'all do it.
Yes. And that is EXACTLY what you want. Deep retracements should FAIL to hit the entry criteria (break back across daily pivot or 5.1 MAs) until they stop being retracements as price switches around to re-confirm the trend. If the retracement does continue until it becomes a NEW TREND or RANGING behaviour, then the TMA slope will change can should keep you out of the trade too. Again, exactly what you want.
Okay, so as long as things line back up (including the TMA) before the trigger then we're good to go? I guess I was just looking for a minor retracement to the 5ma or pivot.
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