Basket Trading System (T101 system) - page 18
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Julius,
You still have not answered my question of how you handle drawdown. I would like to know. How do you know when to stop the basket and cut your losses?
For instance, your trades at the beginning of your statement on IBFX, on 10/26/08, you entered and took a decent loss on the whole basket. What made you cut your loss there? Same thing happened on 10/31/08, you took another loss.
A lot people are focused on entry. I'm more focused on your rationale to close a losing basket. To me, I feel comfortable only if I know how to get out of a losing trade.
"Know when to fold!" Kenny Roger's priceless lesson.
With a statement like that, you are DA MAN!I am using the 2AccountProtect EA which set the $560 as the fold value, if trading 0.1 lots. It is equivalent to 14 x 40 pips x $1 = -560. At this point i dont think you are coming back, this means it is lost. EA will close the trades.
It is mentioned in the old thread thats why i was reluctant in responding thinking that you might have read this already. Sometimes i screw around too thinking that it will comeback and disable the EA but always ends in disaster. Now i just let the EA decide to close it.
Hi Julius,
Excellent!
Will it be possible to show all your entry signal on all these trades?
Here are the this week screen shots every 5 minutes interval:
http://www.tickjob.com/T101/T101-IB-27-oct.pdfTick,
Im sorry i am not using those indicator. Time and time again i am telling that i am using the old weekly IA way to know the trend. For my entry i used the Profitgraph in 15 min and 1 hour. If both graphs conform then i enter. Those indicators are being bastardized so much that confuses even myself. So i just stop looking at them and shift back to the old orginal way im doing it. Nothing better than the original and its even based on the real profit not pip values taken at the beginning of the candle. Not real man.
Julius
Julius,
Man, you got like 6 threads going at multiple forums. I simply can't keep up with the way your system is growing. I apologize for not being able to keep track of what was said. And I usually just try to focus on my own thing, but I find your system to be very interesting, even though I have no idea how it really works. And you know how a system have to fit the trader, I would need to make sure I truely understand the closing mechanism before I even start to look at the entries.
Tick,
Im sorry i am not using those indicator. Time and time again i am telling that i am using the old weekly IA way to know the trend. For my entry i used the Profitgraph in 15 min and 1 hour. If both graphs conform then i enter. Those indicators are being bastardized so much that confuses even myself. So i just stop looking at them and shift back to the old orginal way im doing it. Nothing better than the original and its even based on the real profit not pip values taken at the beginning of the candle. Not real man.
JuliusThanks a lot for this input. I was lost in the deluge of indicators and my foolishness is using all of them to find a perfect entry. It really does not matter as long as you are able to catch the trend change. Looking forward to further inputs..
Managed accounts
Tick,
Im sorry i am not using those indicator. Time and time again i am telling that i am using the old weekly IA way to know the trend. For my entry i used the Profitgraph in 15 min and 1 hour. If both graphs conform then i enter. Those indicators are being bastardized so much that confuses even myself. So i just stop looking at them and shift back to the old orginal way im doing it. Nothing better than the original and its even based on the real profit not pip values taken at the beginning of the candle. Not real man.
JuliusJulius,
I am watching your threads for quite some time, never wrote a single post. I like your trading style. However, I am not able to grasp it fully. I have a suggestion for you: since you are the author of this strategy and you master it the best, what if you would be money manager and you would manage people's accounts?
I know you never wanted to sell your strategy but, man, if you can do so well you deserve to make some extra cash from commissions, right? And you do the same thing, no extra work...
I do not have much money, but I could start with $3K mini account at IBFX right away. At IBFX you need at least 5 accounts to manage to become money manager. If you decide so, count me in.
Let me know what you think about it. I hope you can do that and I am sure many people from here would join too.
Thanks!
PS: whatever your answer will be, it is ok. It is up to you. Just suggestion.
Julius,
I am watching your threads for quite some time, never wrote a single post. I like your trading style. However, I am not able to grasp it fully. I have a suggestion for you: since you are the author of this strategy and you master it the best, what if you would be money manager and you would manage people's accounts?
I know you never wanted to sell your strategy but, man, if you can do so well you deserve to make some extra cash from commissions, right? And you do the same thing, no extra work...
I do not have much money, but I could start with $3K mini account at IBFX right away. At IBFX you need at least 5 accounts to manage to become money manager. If you decide so, count me in.
Let me know what you think about it. I hope you can do that and I am sure many people from here would join too.
Thanks!
PS: whatever your answer will be, it is ok. It is up to you. Just suggestion.Hotstorm,
As long as we are not adding extra strain to the trader, i am for it. I dont know the details of this can you PM me how to go about it. Thanks
Julius
Thanks a lot for this input. I was lost in the deluge of indicators and my foolishness is using all of them to find a perfect entry. It really does not matter as long as you are able to catch the trend change. Looking forward to further inputs..
Trends or reversal could be 15 mins, 1 hr, 4 hr days or even longer. And this could be taken advantage of. Even the shortest trend and reversal of say 15 minutes, this system can make decent pips out of it. Even a 15 mins directional move of say 15 pips multiplied by 14 = 210 pips less 70 for spread you will still make a decent 140 pips and to think that this move happend very quick sometimes less than 5 min. If this situation happend just ten times in a day and you catch just 8, thats a 1000+ pips for the day. A decent enough take.
The idea here is to really make perfect in your entry that is the key to everything. How to do this, is to watch you favorite indicator moves not that conventional one (eg MA, RSI and the like) those that are presented in the thread. Most of them are non-lag indicator. Not just for days, some even watch it for weeks.I watch for years the IA movements. You will notice that slowly you will be able to see patterns and be able to define randomness of the market. There is no short cut in this business, it is all hard work with no special talent required. Hope this advice helps.
Julius
Hotstorm,
As long as we are not adding extra strain to the trader, i am for it. I dont know the details of this can you PM me how to go about it. Thanks
JuliusI don't believe Julius has agreed for this. I am sure many will be interested in this idea. My IBFX account is ready to be funded but $3k is just beyond me now. Once the required minimum no.s is met, if I am allowed to join with say $500-1000, I will be happy to hop in.
Thanks Julius again for further inputs. I will be trying out in my micro-nano accounts. Just hate demo account.
i'm another T101 chaser, never wrote anything. this is the first time i completely chased t101's thread.
Q: sometimes when the anchor pairs are dislodged, usually it means strong in long or short, will there be any possibility that the new anchor pair returning to its original spot? hence, the displacement is not really a 'strong' tick?
Thanks t101 for all the free stuffs. also the methodology, very unique and logical.
i'm another T101 chaser, never wrote anything. this is the first time i completely chased t101's thread.
Q: sometimes when the anchor pairs are dislodged, usually it means strong in long or short, will there be any possibility that the new anchor pair returning to its original spot? hence, the displacement is not really a 'strong' tick?
Thanks t101 for all the free stuffs. also the methodology, very unique and logical.The trend is the color of the invading force, or opposite of the dislodge anchor. Yes there is always the fight between the invading and the holder of the spot ( changing of spot) Usually the invading pair won most of the time.