Simple Trading Method - page 8
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Reply in red..
Hi Julius, I am just curious why IBFX profit two times higher than FXpro platform? I am using the normal basket trading with FXpro, normal entry, not aggresive very conservative method presented in Part 1. IBFX on the other hand is a combination of both aggreesive trading plus optimization and scalping. Meaning concnetration more on iBFX. Also of course, giving more attention to IBFX than Fxpro. Not simultaneous at all. It is wrong to trade simultaneously, one should be slightly ahead of the other. If there is some unforseen negative in the first trade you still have time not to enter the other. You mentioned this on your early post : "The only difference with these system is you can catch the trend earlier by at least 2 candles and you can maximize your profit.". Which tool do you use to identify the trend 2 candles earlier? By trend, do you mean short, medium, long term trend? ProfitChart is an indicator that follow strickly the price. Compare to any conventional indic, eg MA, you will notice that by the time the MA cross give you a signal to trade, two(2) profittable candles have passed already. Not in profitchart. Btw, Do you ever thinking about execute/trigger the baskets simultaneously on the same broker with different accounts? Then you can easily reach your target 1x, 2x, 3x,etc (3 x $11,470.73 = $34,412.19) faster. I know it is also 1x, 2x, 3x risk involved, but you are pretty consistent on your earning, thefore the risk should be reduced. NO. my reason on the first paragraph irregardless of platform, one should be ahead of the other. Thanks, enjoy your trip to costco this weekend
Julius
Reply in Red
Wow Julius, you made more in one week than most people make in a month!! Congratulations on a terrific trading week. I have a long way to go before my trading is in the same ballpark, but with patience and perserverance I plan on being in that 10k+ pips/week club consistently. I remember a couple of years ago when a group I traded with our goal was 100 pips a week. That seemed so difficult back then. LOL. Now, with basket trading that comes in a matter of minutes if not seconds. Oh you will, i have no doubt about that, now that you have a good system all you need is practice especially on the entry. Dont be afraid to make mistakes, even myself made a lot of errors. Oh so you like scalping for 1000 pips huh..I think we are just lucky this week and the market trends a lot and we were there at the right time. I think all system make some good pips this week not only us.
Trader 101 Aren't you complicating things for yourself. I traded my own version and made around 600 pips this week.If I started trading 4 lots ,my version would make 2400 pips @ $10=$24,000 To get your pips you are taking on 4 lots of trades on 14 pairs ,although the pippage will be higher , the profits are similiar. I only traded part time cause I do not have time to follow my trades , and I am not fully ready to trade this.I did not let my profits run , otherwise I would be looking at $50,000 this week.Think what would have happened if I traded full time!My trading style is clinical I do not need to change my style .I hope u understand OILFXPRO
If you start your own thread i think people will follow you including those that follow me, because you seems to be a better trader than i am or for anyone else i have known. Why do you have to bother a pitiful trader like myself. Nobody is better than you, so i suggest leave this thread alone as we make our little journey. Thank you
Julius
Hi Julius
Thankyou for releasing your great system. I have followed your suggestion of watching the PChart and it has been enlightening to say the least. No lag and better than a ma cross. My question if you would be so kind to answer is relating to the Pchart. Do you use separate pcharts coded for the yen groups, usd groups and middle group which would enable you to trade the group that will give you best profit?
My second question is to investingjeff. How do you decide which pairs to watch with the pchart?
Looking forward to demo trading this next week. Again many thanks julius and jeff.
Hi Julius Thankyou for releasing your great system. I have followed your suggestion of watching the PChart and it has been enlightening to say the least. No lag and better than a ma cross. My question if you would be so kind to answer is relating to the Pchart. Do you use separate pcharts coded for the yen groups, usd groups and middle group which would enable you to trade the group that will give you best profit? My second question is to investingjeff. How do you decide which pairs to watch with the pchart? Looking forward to demo trading this next week. Again many thanks julius and jeff.
Hi Phoenix, what I suggested to Lanie was to pick some different currencies. I specifically mentioned currency pairs containing JPY, GBP, EUR, and USD because I see those as the primary currencies in the basket and I think they'll be easier to see the correlated moves on.
I know it has been mentioned before in FF that the movement of EURJPY is pretty close to how the basket as a whole moves. We have 6 JPY and USD pairs, 4 EUR, GBP, and CHF pairs, and 2 AUD and NZD. So with that mixture of currencies it stands to reason that the basket will look similar to JPY and USD crosses much more so than the other currencies.
There's no specific formula for deciding. I put up EURJPY (strong correlation with USDJPY, AUDJPY, and GBPJPY) , GBPUSD, and EURUSD (strong negative correlation with USDCHF). With those three currencies I'm really watching price on about half the basket. Hope that makes sense to someone else besides me
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Hi Julius Thankyou for releasing your great system. I have followed your suggestion of watching the PChart and it has been enlightening to say the least. No lag and better than a ma cross. My question if you would be so kind to answer is relating to the Pchart. Do you use separate pcharts coded for the yen groups, usd groups and middle group which would enable you to trade the group that will give you best profit? My second question is to investingjeff. How do you decide which pairs to watch with the pchart? Looking forward to demo trading this next week. Again many thanks julius and jeff.
No, but i was thinking of doing that since there are times the i trade according to groups. I will make one next week.
Julius
Hi Everyone,
I have been a fanatical disciple of T101, something like a hidden bodyguard to him. I encourage everybody to treat him with respect and honor then we will gain a lot from him.
I bet he is going to break the record of $16,000/week next week.
Thanks T101.
Do I accompany you to Costco this weekend or you want to go alone with the family?
sweetjoshan
Hi Everyone,I have been a fanatical disciple of T101, something like a hidden bodyguard to him. I encourage everybody to treat him with respect and honor then we will gain a lot from him.I bet he is going to break the record of $16,000/week next week.Thanks T101.Do I accompany you to Costco this weekend or you want to go alone with ethe family?sweetjoshan
Im thinking of changing the Costco pitch to say Sams Club. Costco have enough exposure already and they are not paying me still for the endorsement. LOL
Joshan-- now you are stalking me...Dont worry, i will not have a retraining order on you. I know you are eager to learn and trade with success and off course, makes a lot of money.
We have some decent traders in this forum and eager to learn and make some dough. So far, i fell comfortable in this forum until the rest know we are here and then it will become rough again. Then i will find again another quiet forum. LOL
I was sent an E-mail spam saying that this "Bank Flow Strategy" the one they are selling membership to, makes 7,000 pips in 6 months. And the membership fee is more than $1000 for the year. I caution you to never entertain this kind of trap. Nobody know know anything what the banks are doing even the individual bank. Stay with us and we will hopefully come to tie with their scores if not overtake them.
Julius
Hello Julius
I have some observations of your method that am wondering if you could comment on.
If we let the short group be and the long be .
Now if we expand or through multiplication we get
(((EUR)^2).(GBP).(AUD))/(((JPY)^3).(CHF)) (let this be )
Hence =
When we short and long in the hedge account we get -=0, hence the hedge.
Now when we trade the basket, we are in fact trading the quantity 2.. And when we look at the movements of the elements of the basket we are in fact are trying to define an internal indicator of the movement
of 2..
Also looking at , does the pair EURJPY have any importance?
I am probably barking up the wrong tree, just trying to get the mechanics of your method into my head. Am eager to learn and think the basket is great!!
Thanks
RedPadisha
They got headache i guess LOL , But her is my reply
Hello Julius I have some observations of your method that am wondering if you could comment on. If we let the short group be and the long be .Now if we expand or through multiplication we get (((EUR)^2).(GBP).(AUD)).NZD/(((JPY)^3).(CHF).USD) (let this be ) Hence = YES When we short and long in the hedge account we get -=0, hence the hedge. YES Now when we trade the basket, we are in fact trading the quantity 2.. And when we look at the movements of the elements of the basket we are in fact are trying to define an internal indicator of the movement of 2.. YES Also looking at , does the pair EURJPY have any importance?Yes significant as any member of the BUY Team I am probably barking up the wrong tree, just trying to get the mechanics of your method into my head. Am eager to learn and think the basket is great!!What was the question? I know you are trying to shot something but cant quite get to it. Slow down and think again. Im just be here. Its like my Thermodynamics class. LOL Remember the mind of great thinkers are hard to comprehend but once understood turns out to be that simple. Thanks RedPadisha