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Jem's Uber Basket Trading Thread
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Author:  jasonckb [ Thu Sep 06, 2012 8:44 am ]
Post subject:  Re: Jem's Uber Basket Trading Thread
gms wrote:Yesterday most of the watch basket pairs retraced and triggered again. So I entered a basket. Today all pairs retraced even more and the basket was stopped out. I am now experimenting with clues how to avoid this trap.

The chart posted in Jem's first post of this thread raised my attention: "I like to have the H1 CurrencySlopeStrength up on my screen. When the H1 crosses over it can be a sign of a reversal coming up." Great observation! However, with v.1.0.3 of the NT TMA-CSS SP indi the slopes look totally different and the USD slope goes above the AUD much later (too late).

I am curious if anybody uses other warning signs to avoid this trap. For example is there a minimum amount of retracement required to make a trigger valid?

Thank you for all the great contributions here!

gary
IMHO, those pairs in the basket have already undergone quite an extend run in short run if u turn to see them on the daily charts. In that sense, you may expect a deeper correction rather than a shallow one just like yesterday. You may also suspect they will come back to test the weekly open or even weekly pivot..... SO patience is the key. Just my 2 pips :oops:
Author:  gms [ Thu Sep 06, 2012 9:07 am ]
Post subject:  Re: Jem's Uber Basket Trading Thread
fok wrote: Sorry to hear, what was your basket trading stop (My stops are normally 40/ 50 pips per pair).
50 pips per pair. The problem was clearly the timing of the entry. Happened the 3rd time to me. I need to figure out how to avoid that ...
Author:  alex_forex [ Thu Sep 06, 2012 9:32 am ]
Post subject:  Re: Jem's Uber Basket Trading Thread
gms wrote:
fok wrote: Sorry to hear, what was your basket trading stop (My stops are normally 40/ 50 pips per pair).
50 pips per pair. The problem was clearly the timing of the entry. Happened the 3rd time to me. I need to figure out how to avoid that ...
I think 50 pips SL is too short for this type of trades... :?:
Author:  gms [ Thu Sep 06, 2012 1:55 pm ]
Post subject:  Re: Jem's Uber Basket Trading Thread
alex_forex wrote:I think 50 pips SL is too short for this type of trades... :?:
What SL do you use?
(75 pips SL would have been hit right now ....)

gary
Author:  alex_forex [ Thu Sep 06, 2012 3:29 pm ]
Post subject:  Re: Jem's Uber Basket Trading Thread
Actually 200 pips.
But my results show I will be able to reduce a little without kill profit.

Regards
Alex
Author:  tx413 [ Thu Sep 06, 2012 5:25 pm ]
Post subject:  Re: Jem's Uber Basket Trading Thread
alex_forex wrote:Actually 200 pips.
200 pips PER PAIR? So if you're in a 7-pair basket, that's 1400 pips stop loss? Seriously?
Author:  alex_forex [ Thu Sep 06, 2012 6:12 pm ]
Post subject:  Re: Jem's Uber Basket Trading Thread
tx413 wrote:
alex_forex wrote:Actually 200 pips.
200 pips PER PAIR? So if you're in a 7-pair basket, that's 1400 pips stop loss? Seriously?
Yes...and no.

What are pips without talking balance and lot size ?

By the way, I manage those trade as a basket (Jem's Uber Basket Trading).
So the basket's SL is not the sum of the trades' SL.

Regards
Alex
Author:  garyfritz [ Thu Sep 06, 2012 6:45 pm ]
Post subject:  Re: Jem's Uber Basket Trading Thread
I'm still trying to understand how/when to enter the basket. Jem seems to be the master at this but hopefully the rest of you gents can offer some wisdom.

In particular I'm not sure whether to enter pairs individually as they set up, or wait for many pairs to start moving in unison. E.g. right now AUDCAD looks like it could be ready to enter short on H4, AUDUSD is still pulling back, AUDJPY is pulling back strongly. USDCAD (weak Slope I know, but just for discussion purposes let's pretend it has a good Slope) gave a great short entry at 08:00 GMT when it crossed the DP. Would you enter them individually when they turn individually, or wait for the whole batch to start moving together? The "all pairs moving together" seems to be a very rare event but maybe that's what it takes.
Author:  censura [ Thu Sep 06, 2012 7:17 pm ]
Post subject:  Re: Jem's Uber Basket Trading Thread
Hi, I have been trading Jem / NB 10.2 for 1 week and in this time have had 2 baskets. 700 pips on basket 1 and basket 2 went to +700 but back to 80 now. I am not worried about this basket as yet and expect it to go over 1,000 next week. I try and look at the weekly support / resistances as guides to when to close a basket although obviously my experience is very limited.

To answer you question I enter trades individualy so for eg this latest basket started with 3 trades but since i have added 8 further trades as conditions fit ie + or - 0.8 slope values and a retrace on daily pivot then break of daily pivot in direction of trend.

As I said early days but will see how it goes, I have traded NB systems since 2009 and had success with all reincarnations. The most helpful thing for me was when a dashboard was produced and i noticed one is on this site although it is not for the latest nb system we are trading here. I have asked for the developer to see if he is willing to produce one for this version of NB.

I think as we all know the importance is ensuring we are trading while the trend is still viable, my thoughts are until

1 - The daily comes back and crosses above or below the weekly pivot
2 - The slope strength falls below -+ 0.4 then everything is on and stick with it.

I don't trade with SL (Which may seem scary or trailing tp) I just use recovery and loss / profit matching where i need to reduce exposure.

For revovery I am not using a fixed 100 pip entry I use the same conditions I enter under and will do this untill the trend is invalid

I will keep you updated as things progress

hope this helps and thank all of you for your contributions
Author:  antcj [ Thu Sep 06, 2012 7:44 pm ]
Post subject:  Re: Jem's Uber Basket Trading Thread
Gary im no expert tho i been struggling with forex last 2 + years , and this is the first time had any real joy. However my TZ dictates that i have to sleep during the good sessions. And i cant sit in front of the screen all day anyway.So what ive been doing is 0.8 trades only as per the slope values screen. anything over .8 goes in basket and i kick it off just into UK. Irrespective of retracement etc. (not if there is sideways movement tho!
A basket, altogether, one hit, shelley now 50/75
And have had success. Im on a live miniscule account.
I tried to force trades early last month and got hurt ,so stopped , when i realised what i was doing.


What ive been trying to do is get an indication of things to come, like all of us, and to that end ive been playing with a few tools available here on this site, thanks to the generosity of all concerned.
Anyway not sure how good this is but my 2 cents worth, which may be worth less than that. see the pic
http://imm.io/DqLq
Im still playing with this so be gentle. As i said may not be worth anything.
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