Jem's Uber Basket Trading Thread

[MacLeod22]

Definately a lot of fun. Here is my basket after launching yesterday (my high water mark was reset after having to restart comp.)

[kelisa]

Hey Jem, are you just looking at pairs over 0.4 level?

pairs over .4 tradable, pairs over .8 tradable and hold

[Thunder123]

Big retracement..breaking some WPs. I would probably close for small profit if it was not demo.

[kelisa]

My two baskest are together up 350 pips and all green except EURAUD.

My basket is up 320pips except euraud, -25pips. Hmmm.........shud I weed out euraud?

I did

Me too now.

[will80]

I have been trading this live for 3 weeks with good success. Because it's live I keep the breakeven relatively close perhaps too close if I'm honest. The basket reached 359pips last night but hit breakeven 140pips with the retracement that occurred toward the latter hours of the NY market. Pairs like the EURNZD seemed to really buck against the trend last night even though most other EUR pairs were synchronised.

Annoyed my slightly because I was hoping for a lot more - but that's trading and it's not a loss so cannot complain! Consistent profit is key here, risking 1% across an entire basket with little capital does not yield much, but that consistency gives me hope in adding additional capital to begin to feel the effects of compounding. Early days though - I'm going to continue trading live on 0.01 lots per trade in each basket and just see what the next few months look like.

[MacLeod22]

Big retracement..breaking some WPs. I would probably close for small profit if it was not demo.

Yup - got closed out, the retracement happened pretty quickly there... was watching it dwindle away for the past 2 hours.

Guys - what are your take profit/stop loss settings for ShellyNow?

[nonlinear]

I closed EURAUS out earlier (along with a number of other green pairs in my baskets), but reopened based on the bounce off the weekly. Many of the pairs appear to be making a similar move as yesterday, I hope

[nonlinear]

Gary,

I first look at the pairs that are over/under 0.8 on the D1, then I only look at closely correlated pairs that are near .8 on the D1. If the pair is not closely correlated with my basket, I ignore it. If the slope of a closely correlated pair is near or approaching 0.8 then I add it to the watch. I think the point is that if correlated pairs are making the same move, then you are in a high probabilty situation regardless of the exact slope value. For example, if all the chf pairs are over 0.8 but audchf is 0.6 and rising, then I am adding it to the watch for certain.

The same philosophy applies to bounces off of retraces. If all of the correlated watch pairs are bouncing off of some level at the exact same time, I am taking that whether or not it is 5.1, some pivot, or whatever (this usually happens to be some pivot or MA due to daily moves). Just my 2 cents as I am a novice to Jem's approach and am on demo....

[Thunder123]

Looks like another opportunity to enter is coming, hopefully the move this time will be larger.

[will80]

Agreed Thunder - I'm leaving work early this time to catch it lol!