Do You Trade the "Basket?"
- Thread starter ezrydn
- Start date
- Watchers 24
Usage of 1A Combo Ultimate 3.1 indi
Dear EZ,
Thank you very much for your system. I have configured my indi's and EA according to my own preference. However, I have a question on how you use the 1A Combo Ultimate 3.1 indi. When do you decide that a currency is now tradeable or not? Do you only look at currencies > 7 and <1?
I have found that a currency might be >7 now and 20 min later its dropped down to, say, 5. I am not sure how use this indicator optimally.
Thanks again
Brendon
Dear EZ,
Thank you very much for your system. I have configured my indi's and EA according to my own preference. However, I have a question on how you use the 1A Combo Ultimate 3.1 indi. When do you decide that a currency is now tradeable or not? Do you only look at currencies > 7 and <1?
I have found that a currency might be >7 now and 20 min later its dropped down to, say, 5. I am not sure how use this indicator optimally.
Thanks again
Brendon
First off, you need to understand I don't trade single pair currency. I feel it's a waste of my time. I use the 1A Combo to see which "basket" to attack only.
Hi EZ,
I thought I'll post my reply here as well.
Regarding your post in another forum:
Yes, that is also my intension to trade a basket of a certain currency, for example all the AUD pairs or JPY pairs, etc. My question still remains: If for example you see AUD= 6.45 on the 1A Combo, is this your indication that to trade all the AUD pairs as a basket or do you wait for it to be > 7? And the same goes for a currency that is <2.
Regarding my problem that I have stated above:
I have configured my Basketv8 to the following: Case 5 = Core5 pairs; Case 6 = All the JPY pairs, Case 8 = USD pairs. But after I have put the indi on a H1 GBPJPY live chart with the case setting, and I open the offline chart it just gives me a Wait to Update screen. I have tried the ForceLoadHistoricalD...mq4 to get the history data. But the USD, GBP and AUD baskets do not give me an offline chart. I don't know what to try anymore!!
Sorry for all the "stupid" questions on this matter...
Thanks
Regards
I thought I'll post my reply here as well.
Regarding your post in another forum:
Yes, that is also my intension to trade a basket of a certain currency, for example all the AUD pairs or JPY pairs, etc. My question still remains: If for example you see AUD= 6.45 on the 1A Combo, is this your indication that to trade all the AUD pairs as a basket or do you wait for it to be > 7? And the same goes for a currency that is <2.
Regarding my problem that I have stated above:
I have configured my Basketv8 to the following: Case 5 = Core5 pairs; Case 6 = All the JPY pairs, Case 8 = USD pairs. But after I have put the indi on a H1 GBPJPY live chart with the case setting, and I open the offline chart it just gives me a Wait to Update screen. I have tried the ForceLoadHistoricalD...mq4 to get the history data. But the USD, GBP and AUD baskets do not give me an offline chart. I don't know what to try anymore!!
Sorry for all the "stupid" questions on this matter...
Thanks
Regards
You're looking at the wrong info. If you're setting up a basket, look at the lower right section of the 1A Custom. See where all like pairs are listed? EUR-JPY-AUD and such? I use that section to determine my basket. Never look at the weight of a single pair for a basket setup.
Now, once decided, we don't know yet if the basket is solid enough for a run so open it at 0.01 lots and see what it does. If all pairs run green, dump out and reset at your prefered lot size and retrigger.
It also sounds, from your description, that you have too many item involved. I have Basket8 completely filled in, matching BasketTrader2.3, on Cases. Other than the offline chart and my added template, that's all I use. No problems. Why are you using Core5? I've never used it. Since I have no clues as to what you've done with inputs, I'm at a loss to direct you.
Now, once decided, we don't know yet if the basket is solid enough for a run so open it at 0.01 lots and see what it does. If all pairs run green, dump out and reset at your prefered lot size and retrigger.
It also sounds, from your description, that you have too many item involved. I have Basket8 completely filled in, matching BasketTrader2.3, on Cases. Other than the offline chart and my added template, that's all I use. No problems. Why are you using Core5? I've never used it. Since I have no clues as to what you've done with inputs, I'm at a loss to direct you.
Last edited:
Hi Ez,
Thank you for the reply. Have attached a screenshot of the 1A Combo with a yellow block. I assume that you speak of this highlighted area?
Also attached is Basketv8 with my modified basket cases. (Which does not provide me with the USD, GBP and AUD basket offline charts. I am not a coder, so to go through the logic is like speaking marsian.
Maybe, if you are willing and have time. You can have a look at my basket cases in the code?
I have now modified another T101_pricehistory_... indi with the baskets I want to look at and by the looks of it, it seems to work. I have to ask, do you only trade GVCL's 8 pair basket, 14 pair and the JPY baskets?
I have demo traded baskets a while ago but with no consistent results. Some weeks were great and others just crashed and burned..
On a personal note: Yes, I love Huey's and their unique sound. Here in South-Africa one rarely see or even here of one flying. Most of them are based down in Cape Town at a private firm.
Do you miss those days?
Regards
Brendon
Thank you for the reply. Have attached a screenshot of the 1A Combo with a yellow block. I assume that you speak of this highlighted area?
Also attached is Basketv8 with my modified basket cases. (Which does not provide me with the USD, GBP and AUD basket offline charts. I am not a coder, so to go through the logic is like speaking marsian.
Maybe, if you are willing and have time. You can have a look at my basket cases in the code? I have now modified another T101_pricehistory_... indi with the baskets I want to look at and by the looks of it, it seems to work. I have to ask, do you only trade GVCL's 8 pair basket, 14 pair and the JPY baskets?
I have demo traded baskets a while ago but with no consistent results. Some weeks were great and others just crashed and burned..
On a personal note: Yes, I love Huey's and their unique sound. Here in South-Africa one rarely see or even here of one flying. Most of them are based down in Cape Town at a private firm.
Do you miss those days?
Regards
Brendon
Attachments
I looked at your screen shot. I see one possible basket (JPY). Now, you tell me why I'd pick it to test. Honestly, tell me. Post your response and I'll agree or tell you the answer. It should be obvious. LOL
I have all those groups listed in the Case section of Basket8 and BasketTrader2.3. However, I mainly focus on JPY and EUR.
You say you set BasketTrader YOUR way. Oops! What did you do then? I don't use BasketTrader2.3 as an EA and I have all the automatics turned off. I'm running BasketTrader "bareback." And I don't experience any of the problems you mention so I think your bug is your settings.
I don't miss the combat (or, maybe I do, a little) but I miss that ugly gal. I learned to fly her as a Crew Chief with lift ships, D models. Later, I became an Airplane/Rotorcraft/Instrument Flight Instructor. I love flying swing-wings! Especially HUEYS!!!
I have all those groups listed in the Case section of Basket8 and BasketTrader2.3. However, I mainly focus on JPY and EUR.
You say you set BasketTrader YOUR way. Oops! What did you do then? I don't use BasketTrader2.3 as an EA and I have all the automatics turned off. I'm running BasketTrader "bareback." And I don't experience any of the problems you mention so I think your bug is your settings.
I don't miss the combat (or, maybe I do, a little) but I miss that ugly gal. I learned to fly her as a Crew Chief with lift ships, D models. Later, I became an Airplane/Rotorcraft/Instrument Flight Instructor. I love flying swing-wings! Especially HUEYS!!!
Hi Ez,
Long time since your last post. Thanks for having a look at my posted screenshot. To answer your question about the possible Yen basket:
I think you'll pick the yen basket because the total value of the basket is larger than the rest and all the pairs within the basket shows a possitive dollar/pip value.
Regarding the EA and indi- maybe your right. There maybe some small setting that is not correct on my side. I also use BasketTrader 2.3 bareback, as you call it. I only use it to open and close trades and to trail my basket trades. But it looks to me that my offline chart does not update and therefore the EA does not manage my trailing stops as it should. Do you know if the visual TP and SL is functional or is it just for visual purposes?
O ok... Sound as if you, up until know, had a pretty awesome life!? I would love to learn to fly choppers and especially Hueys. But its too darn expensive here in SA.
Long time since your last post. Thanks for having a look at my posted screenshot. To answer your question about the possible Yen basket:
I think you'll pick the yen basket because the total value of the basket is larger than the rest and all the pairs within the basket shows a possitive dollar/pip value.
Regarding the EA and indi- maybe your right. There maybe some small setting that is not correct on my side. I also use BasketTrader 2.3 bareback, as you call it. I only use it to open and close trades and to trail my basket trades. But it looks to me that my offline chart does not update and therefore the EA does not manage my trailing stops as it should. Do you know if the visual TP and SL is functional or is it just for visual purposes?
O ok... Sound as if you, up until know, had a pretty awesome life!? I would love to learn to fly choppers and especially Hueys. But its too darn expensive here in SA.
To simplify that answer, All pairs are red (in sell mode) and pips are all green so it's producing. Then, i'd run a 0.01 test on the basket to see if all go green there. If so, I dump out of the basket and reset my lot sizes to what I think the basket will hold.
SL and TP are things I extremely rarely use since i don't walk away from active orders. I allow no automatics to make judgements for me in Forex.
Choppers are too expensive EVERYWHERE! Luckily, I had the old GI Bill to fall back on where they'd pay 90% of any training. So, I lumped fixed-wing, rotor-wing and instrument into one package and just paid my 10%.
SL and TP are things I extremely rarely use since i don't walk away from active orders. I allow no automatics to make judgements for me in Forex.
Choppers are too expensive EVERYWHERE! Luckily, I had the old GI Bill to fall back on where they'd pay 90% of any training. So, I lumped fixed-wing, rotor-wing and instrument into one package and just paid my 10%.
"How do you setup your basket?". I get that question, over and over.
I've changed my procedure since initially learning baskets. So, here's my setup:
1. First thing in AM - check 1A Combo Ultimate indi to see if any "Groups" (lower right side) are lining up. Usually, I go for JPY or EUR.
2. Let's say JPY looks good.
3. I pull up the GBPJPY 1H chart, ALWAYS. To it, I append "Basket8" indi. I insert the case number I want which is "7" for JPY. My cases in Basket8 and BasketTrader2.3 exactly match the Groups in 1A Combo indi. Think MetaEditor in MT4.
4. Now, I click File->Offline Chart. You will get a dropdown listing. Scroll down to "Bskt7-1H." Double click it and you get a new chart.
5. Add any template you want to trade with to this new chart. Then, append "BasketTrader2.3 to the new chart. Inputs should be your case number for pairs and lot size is 0.01.
Basket is ready to test.
Open your basket and see if all pairs will go green. If not, close the basket. If yes, close basket, remove BasketTrader EA, reinstall BT2.3 and set your new lot sizes to what your acct can accommodate. You're ready to start your basket.
That's how I do it every day. I have all automatics in BT2.3 shut off. I do NOT use it as an EA.
If all pairs go green, it's time to start scaling your top 3 leading pairs.
You'll find a lot of "wait time," so I spend it on the "third rail," scaling GOLD.
Below, you'll find a zip of all the files I use on the Money Pump, including baskets.
I've changed my procedure since initially learning baskets. So, here's my setup:
1. First thing in AM - check 1A Combo Ultimate indi to see if any "Groups" (lower right side) are lining up. Usually, I go for JPY or EUR.
2. Let's say JPY looks good.
3. I pull up the GBPJPY 1H chart, ALWAYS. To it, I append "Basket8" indi. I insert the case number I want which is "7" for JPY. My cases in Basket8 and BasketTrader2.3 exactly match the Groups in 1A Combo indi. Think MetaEditor in MT4.
4. Now, I click File->Offline Chart. You will get a dropdown listing. Scroll down to "Bskt7-1H." Double click it and you get a new chart.
5. Add any template you want to trade with to this new chart. Then, append "BasketTrader2.3 to the new chart. Inputs should be your case number for pairs and lot size is 0.01.
Basket is ready to test.
Open your basket and see if all pairs will go green. If not, close the basket. If yes, close basket, remove BasketTrader EA, reinstall BT2.3 and set your new lot sizes to what your acct can accommodate. You're ready to start your basket.
That's how I do it every day. I have all automatics in BT2.3 shut off. I do NOT use it as an EA.
If all pairs go green, it's time to start scaling your top 3 leading pairs.
You'll find a lot of "wait time," so I spend it on the "third rail," scaling GOLD.
Below, you'll find a zip of all the files I use on the Money Pump, including baskets.
Last edited:
Hi Ez,
Thank for the reply. I didn't know one should look at the colour of the pairs as well and not just the colour of the pips. But now I have learned something new. I also want to thank you for the rules you lined out on the last page.
I have done quite well this past week using your method for scaling the baskets. There is just one question regarding the scaling of the top 3 pairs of the basket. When you scale a basket, do you use a specific trading template to decide when to enter your Auto Scaler trades or do you just enter when all the pairs within the basket are green?
I would love to learn to fly choppers one day. Hopefully forex will pay for that in the near future (that is the plan). I am still young so I have time on my side.
Regards
Brendon
Thank for the reply. I didn't know one should look at the colour of the pairs as well and not just the colour of the pips. But now I have learned something new. I also want to thank you for the rules you lined out on the last page.
I have done quite well this past week using your method for scaling the baskets. There is just one question regarding the scaling of the top 3 pairs of the basket. When you scale a basket, do you use a specific trading template to decide when to enter your Auto Scaler trades or do you just enter when all the pairs within the basket are green?
I would love to learn to fly choppers one day. Hopefully forex will pay for that in the near future (that is the plan). I am still young so I have time on my side.
Regards
Brendon
Here's my "Scaling Baskets" rules.
1. You won't scale until all basket pairs are fully green.
2. No need to test the scale with 0.01. Basket is producing, all pairs are green, it's running! Get right into it!
3. I use my "auto-scaler" template. If all are green, I have nothing else to check.
Remember, in scaling your basket, your working with something that's already producing. That's a key point.
If you ever go up on an introduction flight in a chopper, tell the instructor you'd like to see a "full on auto." 2nd hardest thing to learn. Hardest? Hovering 3 ft off ground! He'll let you "try" to hover. LOL
1. You won't scale until all basket pairs are fully green.
2. No need to test the scale with 0.01. Basket is producing, all pairs are green, it's running! Get right into it!
3. I use my "auto-scaler" template. If all are green, I have nothing else to check.
Remember, in scaling your basket, your working with something that's already producing. That's a key point.
If you ever go up on an introduction flight in a chopper, tell the instructor you'd like to see a "full on auto." 2nd hardest thing to learn. Hardest? Hovering 3 ft off ground! He'll let you "try" to hover. LOL
Hi Ez,
Thanks for the reply. I'll try to apply your scaling method this coming week. Hopefully there will be some nice moves to catch. Last week and Wednesday was a very good day but from Thursday it slowed down and the range markets took some of my profits away.
I am still working on a method to stay out on those days.
Ok thanks. I'll keep that in mind when I take my intro flight one day.
Thanks for the reply. I'll try to apply your scaling method this coming week. Hopefully there will be some nice moves to catch. Last week and Wednesday was a very good day but from Thursday it slowed down and the range markets took some of my profits away.
I am still working on a method to stay out on those days.
Ok thanks. I'll keep that in mind when I take my intro flight one day.
On those days, I scale Gold. Normally, I use a 5M TF (I like action.). However, if Bollinger slams shut, I search TFs to find trading space.
Hi Ez,
Thanks for the reply. I hope you are doing well? Think I am getting a feel for your system now. I understand all of it. Its now just a matter of practice, practice, practise. Yesterday was quiet but today I got about +400 pips and + 180 pips using your scaling method only on a JPY basket. Because I am at work, its difficult to monitor the trades closely and let the profits run. But, profit is profit and I like it!!
Thanks again for a "Out of the box" method for scaling baskets!!
Regards
Brendon
Thanks for the reply. I hope you are doing well? Think I am getting a feel for your system now. I understand all of it. Its now just a matter of practice, practice, practise. Yesterday was quiet but today I got about +400 pips and + 180 pips using your scaling method only on a JPY basket. Because I am at work, its difficult to monitor the trades closely and let the profits run. But, profit is profit and I like it!!
Thanks again for a "Out of the box" method for scaling baskets!!
Regards
Brendon
I'm glad it's working for you! Since it's an "outta the box" idea, a regular mind seems to have trouble understanding it. However, I see you've got it and are on your way. That's Great!! And, yes, it takes practice. However, it'll be second nature to you next week. Remember, once you've got it down, find a noob and teach it to them.
Hopefully, GBPJPY may be a good substitution for our US-bound brothers. A couple guys and I are working angles on using it instead of Gold. It's showing promise as a "stand-in."
Hopefully, GBPJPY may be a good substitution for our US-bound brothers. A couple guys and I are working angles on using it instead of Gold. It's showing promise as a "stand-in."
Hi Ez,
Thanks. I hope so. I would like to start with live trading soon. Yes, once I can prove to myself that I can make money with this method on a consistant basing will I pass on the knowledge.
Can't wait for the GBPJPY alternative method that you mentioned. I think it will also be excellent as all your other methods. Keep up the good work!
Trading Note: Today is again, a very range bound day on the JPY pairs. So I am waiting for a breakout of some sort. One of the most important parts of trading, that I had to figure out the hard way, is to know when NOT to trade. Especially when trading baskets.
Anyway, good trading to all
Regards
Brendon
Thanks. I hope so. I would like to start with live trading soon. Yes, once I can prove to myself that I can make money with this method on a consistant basing will I pass on the knowledge.
Can't wait for the GBPJPY alternative method that you mentioned. I think it will also be excellent as all your other methods. Keep up the good work!
Trading Note: Today is again, a very range bound day on the JPY pairs. So I am waiting for a breakout of some sort. One of the most important parts of trading, that I had to figure out the hard way, is to know when NOT to trade. Especially when trading baskets.
Anyway, good trading to all
Regards
Brendon
Brendon,
That's why I run a 0.01 lot test on a basket before I go whole hog. If it catches, fine. If it balks, I close and wait.
That's why I run a 0.01 lot test on a basket before I go whole hog. If it catches, fine. If it balks, I close and wait.
Similar threads
