Simple Trading Method with trader101
You see the "shorts" breaking away from the negative area and out performing the buys in the image above. That would be an indication to sell.
Then here they have clearly separated. Now exit at that point or hold until maybe another buy starts heading to the top.
Now i understand a little bit better of this indicator.
AUPaver are you using any utilities to aid you with your trade entry on Oanda. The exit is great but it is a bit cumbersome to enter 14 trades manually. Thanks in advance!
I suppose in windows it's the same way, but when you open the order windows. You can open multiple ones and they automatically stack on top of each other. The submit buttons line up.
So stack the 14 or ever how many on top of each other and click as fast as you can.
Hello to all:
I was surprise to find my simple trading method being popularized in this wonderful forum, but i was glad that a lot of you seems to like this simple method. Perhaps i will inlcude this forum as one of my major stops now on a daily basis as i can see the enthusiasm and delight to those who are starting to bag pips. To the others who still having dificulty understanding the system feel free to post your questions and i will try to answer them to the best of my knowledge. Remember there is no holy grail and certainly this is not the one.
The tremendous success you have this past few weeks was because of the market trends that any MA or S/R or Fibo system will catch as well. The only difference with these system is you can catch the trend earlier by at least 2 candles and you can maximize your profit. In the same token you can also maximize your loses, because you are trading 14 instead of 1 pair.
Together with these methods are the tools that are need to successfully use this. All of which you can find in my old thread at FF. Example are the ProfitCalc EA to identify the trend, the 2 ProtectAccountEA to protect the account off course, there are also scripts and EA in there and in some other related threads in the same forum. I suggest also that you thoroughly read the old thread every one of the post in there as this will give you more information than just shooting questions. The links are below:
Simple Trading Method with trader101
Indicators development for T101's not very simple method.
T101 external IA Monitor
Signals for Simplicity
Setting up the Basics for Trader101 style trading.
And many more thread that are just offshots of the method
anybody know Oluduton - the guy who started this thread???
Great to see you here Trader101!!! I am looking forward to continuing my trading education.
The markets have been a bit unusual lately to say the least. Thursday night I looked at my charts put on a trade and locked in 2000 pips within the hour.
I know there has been much back and forth about the original pairs versus the IBFX pairs. And now it seems the IBFX pairs are being adopted as the universal pairs to avoid confusion and multiple indicators/setups being utilized and discussed. My question is, you worked with the original group for months -- is there an advantage to using that group versus the IBFX group?
Thanks in advance!
No advantage except the original pairs has a slightly less spread but not significant.
Both sets has no problem. I Just centralized it to one universal pairs that is common to almost all brokers platform and the best pairs are the ones we used with IBFX pairs. The original pairs unfortunately are not available in some brokers.
Another reason for doing this is to relieve the programmers of doing 2 sets of indication every time we change somehing. I would suggest you use the new universal pairs as almost all of the indicators made were based upon them. Also the later scripts.
I have gone through the slew of indicators created and have settled on the few that fit me best. One of the ways I have traded the basket is to wait for the anchor pairs to get dislodged on a certain timeframe, usually the hourly, (using Orest indicator or Dashboard) and use that to initiate a trade. In your experience are you getting better signals using the weekly IA only versus using an hourly, 4 hour, or today view? It seems like the weekly might cut down on some of the "noise".
I've also observed some of the jumpers on the weekly IA moving to the anchor spots on the lower timeframes -- this has been a very reliable signal thus far. Just hard to keep it all straight at times.
If you trade the anchor dislodge you use the beginning of the week IA this is a very safe method for the basket trade but since the market now is so crazy a slot jump could even be signal for basket trade. But this is not a good indicator for a ranging market. There is another indicator in the original thread called the Profitgraph or Profitchart which i do i t myself, that is the one i am using for entry. That chart has no lag hence a good incdication and it calculation is based purely on profit making it a very very reliable indication.
But reading it is a challenge, i suggest you installed this indicator and watch the movement of the lines because it is quick and sudden but once you get used to it. This is your best weapon. So far for this week, using this as an entry have already netted me 3,800 pips on FXPro and 4,844 pips on IBFX, and to think that is it only Tuesday night. These coupled by the craziness of the market will make us more pips than you can imagine. That indicator is a bout 2 candles ahead than any conventional indicator you can find in the Forex world. Everything in this system is the first. First time you may get pips more than 5,000 a week, first time we see a Profit Protectionion EA, first time you see all those indicators.
I was even surprize that there was one poster claiming that this is his method and i copied it. Before i could post a question to him, his thread was gone. Good thing are coming to the traders.. This method actually is tilting the balance to the trader and perhaps we can change the 95% - 5% ratio in the near future. When this method is fully popularized and this is shared for free to the world.
I downloaded PC and plopped it on a chart but have not spent the time learning how to read it and react to it. I will certainly do so on your recommendation.
I have been predominantly referring to BasketBars, Basket_Indicator, and Orest/Dashboard.
T101, these last several weeks have been crazy and I know you've been trading this a lot longer than the recent madness. According to your journal you were pulling in about 1000 pips a week or so in June. Do you think that's what we can expect after things slow down to a "regular" pace?
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