Do You Trade the "Basket?"

[ezrydn]

We arrive in Paris around 5:30pm on May 5th. Then, we need to beat feet to the train station for the trip to Cologne. I have no idea where we'll be staying while there. I'll see Joe this week and see if he has plans for us as to where we'll be staying while not at INTERZUM. I'll post here as quick as I get the info. I'll also PM you with my direct email addy and cell number.

I'm also planning on trying to hookup with Hector De Ville while in Paris.

 

[mabra]

Hector de Ville is a phantastic Forex teacher. Do you own his course?

Yes, let us communicate via email under real name. My name is Manfred

 

[Rambo35]

We arrive in Paris around 5:30pm on May 5th. Then, we need to beat feet to the train station for the trip to Cologne. I have no idea where we'll be staying while there. I'll see Joe this week and see if he has plans for us as to where we'll be staying while not at INTERZUM. I'll post here as quick as I get the info. I'll also PM you with my direct email addy and cell number.

I'm also planning on trying to hookup with Hector De Ville while in Paris.

I hope you will enjoy your trip EZ.

 

[ezrydn]

Thanks, Rambo,

Bout time I thought about me. Nam and living here are the only two times I've been "out of country." It's time! I may not hit a couple places I'd like to see but it will still be good. Besides, I'm a chockaholic! Paris will be fun. Belgium would be, too. LOL

I wish all of you a whole bunch of great setups while I'm out.

 

[Rambo35]

Thanks, Rambo,

Bout time I thought about me. Nam and living here are the only two times I've been "out of country." It's time! I may not hit a couple places I'd like to see but it will still be good. Besides, I'm a chockaholic! Paris will be fun. Belgium would be, too. LOL

I wish all of you a whole bunch of great setups while I'm out.

Belgium should be a blast. I think you will enjoy it.

 

[ezrydn]

I'm only concerned with getting around. It's extremely maddening to a ex-infantryman to begin loosing one's ability to walk. And, thanks to having 100% disability for Agent Orange poisoning, i.e., Ischemic Heart Disease, I'm beginning to loose leg power. About a block and it's hard to keep moving without a rest. It's not that I'm tired. My lower leg muscles start to cramp up and I have to wait it out.

But that's not going to interfere with a great 2 weeks. I may not make it up the Eiffel, step for step, but I'll get there. I'll be in no hurry. Evidently, May is a big holiday month in Europe as I've been notified by a couple brokers of non-trading days while I'm there.

Also, funny as it sounds, I'm beginning to experience separation anxiety over leaving Skipper, my Goffin Cockatoo here. Oh, I know he'll be ok and happy with the setup I've got for him, BUT... 35 years with a creature will do that to you. LOL I wish I could take him. He'd love it, too.

 

[Rambo35]

I'm only concerned with getting around. It's extremely maddening to a ex-infantryman to begin loosing one's ability to walk. And, thanks to having 100% disability for Agent Orange poisoning, i.e., Ischemic Heart Disease, I'm beginning to loose leg power. About a block and it's hard to keep moving without a rest. It's not that I'm tired. My lower leg muscles start to cramp up and I have to wait it out.

But that's not going to interfere with a great 2 weeks. I may not make it up the Eiffel, step for step, but I'll get there. I'll be in no hurry. Evidently, May is a big holiday month in Europe as I've been notified by a couple brokers of non-trading days while I'm there.

Also, funny as it sounds, I'm beginning to experience separation anxiety over leaving Skipper, my Goffin Cockatoo here. Oh, I know he'll be ok and happy with the setup I've got for him, BUT... 35 years with a creature will do that to you. LOL I wish I could take him. He'd love it, too.

35 years is a very long time. I am sorry to hear about your heart condition and much respect for serving.

 

[ezrydn]

Thanks, it was my duty and my honor. I caught Skip wild in San Diego. All I knew to do was socialize him. Instead of him learning my language, I learned his vocalizations. He and I are CLOSE!

I remember the day and exactly where we were when the Operation Ranch Hand C-130s lined up abreast and overflew us. Even then, I stopped in midstream and asked, "What's this? It's oily and smells metallic." Was told don't worry, it's weed killer. Yeah, right.

Plus, I tend to push myself a bit. But, I'll be careful. I'm not in any hurry on this trip. My itinerary is stand in the Arch de Triumph, on top of the Eiffel Tower, stand on Omaha Beach in Normandy and get together with friends in both Paris and Cologne.

Am I bothered by my past? Not at all. I've had a hard but good life. By losing my parents when I was 13, I had to take control of it myself.

I hated school at the HS level. Barely graduated. Then, the Army and when I got out, I tried Jr. Col. I did so well and enjoyed it so I kept going. That led to two Ph.Ds and a Law Degree. NOW, I've learned Forex. About 50 years too late but whatever. I've got it now and I'm happy. They were right! It's NOT rocket science or math. If it's anything, it's COLORS. LMAO

And, it's put me in contact with a great group of people, Forex Traders. Hopefully, I'll meet up with one or two of you in Germany and a couple in Paris. Friends all over the world! That's what Forex gives you. The money is secondary.

BTW, OT, I just read a great article about setting up your own personal VPS, in your own home. If you've got a second lap or desktop, you use it. As I understand the setup, just go to START, Programs, Accessories, Remote Desktop Connection. Follow the drill from there. Walla, your own VPS you can access from anywhere online. I've got a backup desktop I'll try it with when I return.

I start packing tomorrow.

 

[itshamish]

Mabra,

That's what I'm here for. I, too, have a language problem, being American and living in Mexico. Don't let it stop you. Get started and when you hit a wall, let me know. I'm retired and am around, online, almost all day, every day.

Greetings, Fellow Old Soldier! Many thanks indeed for showing fellow FX enthusiasts and this fellow infantryman (Royal Marines 71-83) your method. I have been studying Basket Trading and I admire your KISS strategy.

I have downloaded and installed your indicators, scripts and experts files and all goes well up until 15 April and everything flatlines apart from the arrow indicators!

Please do you have any suggestions how I might correct this error? It is not something I have seen before on MT4.

Trade canny,

Hamish.

 

[ezrydn]

itshamish,

Welcome Home, Bro'. It's good to have another "leg" around the C4 coffee fire. I've only experienced that "flatline" or "squashed" problem a couple of times. I found that it occurs when I use anything other than a H1 TF. Other that that, I haven't a clue.

 

[itshamish]

Thanks for the rapid reply. No C4 for us - just a hexamine block. Tea took some time! I am going to try the indicators on my MT4 with Global Prime brokers. They are an Aussie outfit strongly recommended by Steve Hopwood (stevehopwood.com - very useful site for Basketeers) as an alternative to the usual "criminals".

I will send Sitrep idc.

Please forgive this OT:

I hope you enjoy your trip to Europe. Good story about a veteran arriving in France in 2004 with the intention of visiting Normandy.
The Frog immigration orrificer became impatient at the slight delay as the 80 year old gentlemen reached for his passport.
"Come on, come on, quickly. Surely even you Americans know you need a passport to enter France?"

The veteran drew himself up and replied, icily, "On my last visit I didn't need one. And people like you were shooting at me."

Civvies in a uniform, eh? All nationalities - all the same.

H

 

[ezrydn]

LOL

Yeah, heard it. Cherries were always amazed when we'd pinch a piece of C4 and light it to cook with. Much better than heat tabs. I'll take a look at that site when I get a chance.

One morning next week, I'll stand on Omaha beach, near Coleville, at "first light." THAT should be an experience. I'm still hoping to hook up with Hector DeVille while in Paris. His stuff has poured loads into my account and I want to share my usage process with him, strange as it may be.

Gotta be at GDL airport by 5:30pm and still have to get a couple things tied up. I'll check back in after I arrive. Let ya know if my butt got off the plane with me. LOL

 

[ituglobal]

I've been looking for info on this subject since Enivid posted about the USD Index last year.. I just didn't know what it was called. Well, I was slummin' in so other forums and found "Basket Trading."

I can say this, it's not the easiest thing to learn, especially off forum posts. However, it IS doable! I've just finished my first basket trade with $952 banked, an overnighter.

If you're interested, you can Google "Forex Basket Trading Strategies." There are two concepts floating around. I went with the "T101" method. So, I've got the 8-pair setup down. Today, I work on learning the 14-pair setup.

Basket trading is not for newbies. Why? Experience shows when you trade the basket. It's a required piece of the puzzle. Setting up the basket was the hard part for me.

If you've been around for a while (and know your MT4), check it out.

Hi, could you please let us know what you really mean by the word 'basket?' For the sake of those who're new to trading.

 

[ezrydn]

Sorry for the delay. I'm in Paris this week, headed for Cologne, Germany tomorrow. (Thanks to Basket Trading)

What is it? Normally you trade a single currency pair, right? I normally trade 2-14 pair at a time. A multi-pair trade is referred to as "a basket."

Simple statement and easy as can be, once you learn the setup. One 7-pr JPY basket that lasted 2.5 hrs is paying for this trip. It shed $5200 into my acct. It'll spoil ya. LOL

 

[Rambo35]

Sorry for the delay. I'm in Paris this week, headed for Cologne, Germany tomorrow. (Thanks to Basket Trading)

What is it? Normally you trade a single currency pair, right? I normally trade 2-14 pair at a time. A multi-pair trade is referred to as "a basket."

Simple statement and easy as can be, once you learn the setup. One 7-pr JPY basket that lasted 2.5 hrs is paying for this trip. It shed $5200 into my acct. It'll spoil ya. LOL

Nice one, but it does increase your risk as well does it not?

 

[ezrydn]

Sorry for the delay. Got back last Sunday and it's taken until now to resync with space-time. LOL

Risk? Sure it increases it. But the question is "Do you know how to handle it?" Baskets cycle just as single pairs do, but on a greater scale. You have to run some baskets (IN DEMO, PEOPLE) at 0.01 to learn those fluctuations. Within an hour, a basket can swing $500 one way or the other. Can you emotionally handle that? Or, do you believe Demo is real money? While I test and learn in Demo, I don't care if I burn through accts.

Once I figured it out, I started proving my technique with larger trades until I felt confident. Even today, I have a specific test criteria I use before transferring a basket to my live acct. I pulled $1250 out of another 7-pr JPY basket yesterday. It's pure simplicity. But, you've got to learn it and use it to get rid of your boogieman.

Baskets are all I do now. No more single pair trading. I learn something new that can be adapted to baskets every day. I've never really liked the visual chart of a basket. So, I tried a "what if" to my basket setup. I simply added my favorite template to the setup chart after the offline chart is generated but before BasketTrader 2.3 is applied. Works great! It also simplified the setup.

Honestly, I didn't start seeing real profits until I entered basket trading. Once I have a basket running, I usually switch over to Binary trading while I wait on the basket. I have so much of what you'd call risk around me, I've learned to pay no attention to it.

 

[ezrydn]

I have also simplified my basket setup. I still first use the 1A Combo Ultimate 3.1 indi to decide on which group to attack. Then my basket setup goes this way:

1. Open GBPJPY chart.
2. Drag/drop Basket8 indi onto chart. Set # prs (Case #s).
3. Click, File->Open Offline->double click "BSKT(#)1H"
4. Add most favored template to new offline chart
5. Add BasketTrader2.3 ea to offline chart.

Both Basket8 and BasketTrader 2.3 need some internal changes. Use your MT4 MetaEditor. Each file needs to be opened and you need to scroll to bottom of each to "Case" listings, groups of pairs. Make changes per your preference. Here's what I use: Case 4 = GOLD, Silver, USDCAD,AUDUSD. Case 6 = All JPY minus GBPJPY. Case 7 = All JPY. Case 8 = All EUR. Then, in both Basket8 and BasketTrader 2.3, when asked for no. of pairs, use case numbers. Be sure to click Recompile before leaving MetaEditor to keep your changes.

It's much easier and simpler. Plus, it adds the benefit of using a template you're already comfortable with.

 

[Rambo35]

Sounds very interesting, I may have to look into it. When it comes to risk, risk equals lack of knowledge so as long as you know what you are doing I would not say that you are trading with more risk.

 

[itshamish]

Where is everyone?

 

[ezrydn]

They're busy trying to figure out how to trade in a flat, ranging market. I'm watching movies.