Classic price chart pattern trading with T101 14 pairs

[finimej]

New added 091005, equity trail in percentage, equity trail in aboslute dollar term, downlaod at

http://www.formulatrader.com/download/equity_trail.zip

 

Thanks Don for introducing me to the T101 Busket Trading Strategy (T101 BTS)

This system is invented by Trader101 and is free.

 

live trading result see here

http://goodies4.mt4live.com   current real cents account at liteforex.org
[url]http://goodies3.mt4live.com[/url]    previous demo account at FXOPEN ECN demo.

 

download the system with instruction, indicator, script, templates here

http://www.formulatrader.com/download/T101.zip

 

 

T101 is using pairs slot position changing method. However I hate excel and non graphical thing, so I did not use the T101 metod to trading according to the instruction.

 

I use Don's indicator (included in the download package) on any pair, and with timeframe H1 and just draw lines charting and trade it.

Yesterday, I was discussing with a trade friends and draw what I guess on the chart with grey line here

http://www.formulatrader.com/download/bild/T101_chart1.gif

 

then the channel developed as guessed, now, I will see on which way the index break out from the channel. I hade now sell position and expected it will go down.

However, if it break out to the uppline, then the upper line of the channel is my stoploss.

http://www.formulatrader.com/download/bild/T101_chart2.gif

[finimej]

Re: T101 Busket Trading Strategy (T101 BTS)

 

The 14 pairs (7 paris hege another 7 paris), so TA statistic has more meaning than just using one signal forex pair. easier to counting waves, easier to see tops, much less noisy comparing to just one single pair.

 

See the attached Forex index on H1 timeframe. How nice it works on TA.

http://www.formulatrader.com/download/bild/t101_chart3.gif

 

you are welcome to give input and see how you trade on this.

 

step 1) demo account trading, I am doing this.

step 2) cents account trading, I started this today.

step 3) dollar account trading, after maybe gained lots of confidence from step 2 first. I am not there yet.

[finimej]

Re: T101 Busket Trading Strategy (T101 BTS)

 

patience pays. The live demo trading hade only 6 short tradings within one month, and each time trading on 14 pairs.

 

Today, I entried actually at the lower line of the channel that shown on chart2. This is lack of patience. Shall actally wait until as draw on the picture nr chart1 instead.

[Don]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Thanks Don for introducing me to the T101 Busket Trading Strategy (T101 BTS)...

Did I ? :)

 

However, it's a nice coincidence that I have just finished reading the original thread on FF. Gosh, more than 2500 posts! But the system makes sense for sure.

In "normal" trading you are just tickling a very little part of the whole thing (you're trading a pair or two or three). But with this strategy you're on the whole market. These many pairs are balancing each other. You have just take care of the timing only. If you start the procedure at the right time (and direction) then you'll earn a tons of pips. I like it very much! I've download a tons of stuff regarding this, but the main thing is in the first post of this thread.

There is no need for hordes of indicators, no need for timeframes, no need for graph either. Just watching the pairs moving between their slots and when it is time, you just sell or buy them ALL according to the rules. Did I mention I'm loving it? :D

[finimej]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Does any one have any of the t101 privet group indicators, system

Nope!

[Starting]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Thanks Don for introducing me to the T101 Busket Trading Strategy (T101 BTS)

This system is invented by Trader101 and is free.

 

live demo trading result see here

http://goodies4.mt4live.com

 

Hello, mate.

 

This I believe is the first thread with this system on FF

http://www.forexfactory.com/showthread.php?t=107119

 

I searched system name on FF and search gave me 6 pages with results.

Huge piece of info for us to learn. I see there is a lot of stuff developed around it (indis, EA).

 

Thank you for capturing our attention to this system.

 

I was surfing FF maybe half a year ago when I found this system and even read couple of pages, but at that time I was not actually keen to learn it.

 

Now I reconsidered and see great interest in it in both FF and Indo, I think it's worth paying for time invested in its learning. So I'm Starting and I'm starting.. to learn it. :shand:

[finimej]

Re: T101 Busket Trading Strategy (T101 BTS)

 

T101 is actually doing mentoring for fee 399USD at his privat blog. Please google

baskettradingsytemt101.blogspot.com

 

Therefore, he does not real explain it clearly in the open forum like FF or all other place. I have not attend any his mentoring process. Don has tried T101 ea, as far as I known, no T101 EA has been profitable.

[100pips]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Hi Fin,

 

Thanks for starting another great thread. I am still trying to grasp your CC material, makes a lot of sense.

 

Hopefully this will develop in same direction, maybe we can combine the two!!!

 

I can't see your charts on formulatrader site.

 

Did you check Orest indicators from the thread, seems like you don't need demo account after all.

[Don]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Here is a separate thread for Orest's indicator on FF: ......./showthread.php?t=112522

 

Another indicator made based on T101, this time an "external" one (also on FF): ......./showthread.php?t=110309

 

From a bit of distance, but this one is also following T101 (on FF): ......./showthread.php?t=116892

 

Have a nice reading everyone! :)

[finimej]

Re: T101 Busket Trading Strategy (T101 BTS)

 

This was the precidation

http://www.formulatrader.com/download/bild/T101_chart1.gif

 

This is the result today for the Forexindex developed. By definition, the forex index H1 is still on the uppertrend until the 50% fib level support is breaken.

http://www.formulatrader.com/download/bild/T101chart4.gif

 

I hade two trade on sell this week. Because I have internet connection problem with my supplier, I only got online on part time of tuesday, and lite time of today. Have to closed the first sell position yesterday, since my internet connection was down, and I went to nabours hourse to get online and closed the positions.

http://goodies4.mt4live.com

 

I do not have any feeling for the slot jumpings and has abolute no feeling at all for the excel list, therefore, T101 system indicator account is just very lite reference for me. I quickly check the buy and sell position and see if which side is on the top.

 

Mostly, I am just use the Don's indicator, watch the line on H1 and charting it.

 

Orest's indicator is totalt useless for me. rubbish. I do not get any feeling for it.

[scarface]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Hi guys,

 

It is very great and amazing thread. I like these kind of analysis stuff. I think I need to dig down in the manual and understand how everything has to go.

 

Thanks a lot guys for the great job, especially Finimej.

 

Best wishes,

[jmwaraujo]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Does anyone as an indicator that does the wave counts (1, 2, 3, 4, 5. a, b, c)?

 

Please share.

[finimej]

Re: T101 Busket Trading Strategy (T101 BTS)

 

hi, I put the wave counts and fib lines and trendlines by hands. no automatically indicator to do nice wave as far as I know.

[finimej]

Re: T101 Busket Trading Strategy (T101 BTS)

 

forex index buy 14 pairs on H1 timeframe, it never made any higher high since 7/august, while the index did. No there is big negative divergence between the forex index and SP500. I expect S&P500 index will drop from 1044 here as well.

So next week, my trading plan is most sell trading on the forex 14 pairs.

 

Major sell on EURUSD, will take all the chanses on next week to short the EURUSD.

 

http://www.formulatrader.com/download/bild/forex_index4.gif

[scarface]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Hi Finimej,

 

Thanks a lot for explaining your ideas and thoughts. It is still kind of confusing that I can't understand how you came up with your predictions like that. I mean the channel you drew and the expectations that the trend is going to break out!! and other stuff too. Is there something you base your predictions on?? Like how did you know that you had to draw that channel while it could have been a break out for that area to Up instead of Down.

 

Please if you have time, explain more. I'm all ears.

 

Best wishes,

[finimej]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Hi,

Here is my guess for next coming week. Just take this a one of many possible scenariot, it may not play out.

Baseline is: it is still on upper trend, as long as the fib correction level 50% is hold. therefore I put the point 5 on there. If index break down the level at the point 5, then the trend is became down trend and thereafter the week after next week will not held and shall be changed.

 

scarface, I already write in text about why I draw line there on all my pictures in this thread.

 

http://www.formulatrader.com/download/bild/t101chart5.gif

[scarface]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Hi,

 

Thanks a lot Finimej. you are amazing. You gave excellent explanation. Now I got it and yes it is possibly can happen the way you said.

 

Just one quick question though, if the price break the fib 50%, it is going to be considered Down Trend, how about 61.8% fib??? isn't possible that the trend wants to test this fib and then maybe goes back to pull up as bullish trend again??

 

I know it is too much to ask, but you are a teacher and students want to ask. :)

 

Please let me know if possible.

 

Thanks so much again.

 

Best wishes,

[finimej]

Re: T101 Busket Trading Strategy (T101 BTS)

 

scarface, we all learn from each other.

I also just guess what the index will do. It is also possibly that the index corrected down to 61.8%, then it turns up from here. In the case, I do not have to trade all the time, I will then take a time off for a severa hours and let the index show me where it want to go first.

 

at you see, in the http://goodies4.mt4live.com, where I also took 6 trades over one month. Sometimes, need to wait and let the index show the way first. How the index behaviour in the index is also important, check the speed of penetration as well.

 

The forex index has some similar curve as the gbpjpy H1 as well, so you can check if the gbpjpy H1 has positive divergence against it macd and stochastic when the forex index come to the 50% level.

 

There always are lots of signs if the trend is turned, divergence on indicator and prices, the shape and size of the candles.., just to make life more complicated. Just trade on, and you will get feeling for it.

 

The guidline is that, when the trend want to turn at the point nr 5, there always divergence between the MACD, stochastic and price, so at the level 50% and 61.8%, just be prepared the trend will be turned around, and confirm the turning of the trend use the conventional divergence method.

[finimej]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Here compares the 4 large bear markets, and I found the current financial cris is more similar to the year 1974.

http://www.formulatrader.com/download/bild/four-bears-large.gif

 

so compare the recovering from the 1974 and current 2009 recovering, we shall have a higher high on the index on the date 2009-oct-08. Although this picture has made in may, 2009, it still useful. LOL, if history repeat it self. The dollar index normally rise when the index fall, so it will be much safer to short the EURUSD after the 8th of October. Right now, all trading are most short term scalping.

http://www.formulatrader.com/download/bild/1974-2009.gif

 

It is near some intermediam top, so the fear has been growing same as the greedy. If you check out the M5 on EURUSD on last Thursday and Friday, sept 10, and 11), you will see lots of fears and same time the greedy. I see the fears has been growing there. This is also the normal near-top symthom.

[Lordvader]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Hope this helps guys,

 

http://slil.ru/27769779

[finimej]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Thanks Lordvader for sharing the indicators.

 

My demo account at FXOPEN for T101 does not take script anymore.

I just did buy all on my cents account at liteforex.org, when the buy all line came down to the fib 61.8% level.

[scarface]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Hi finimej,

 

Thanks a lot for sharing your ideas and your analysis as well.

 

As I expected that the trend is going to reach the fib 61.8% for some reasons. If you have the trend strength indicator, you might be able to see the reaction of the trend so you understand that the trend strength is not really stable. I guess I need to practice more on this aspect to be able to analyze better.

 

Thanks again, and if there is something I can share with you, I will post it here.

 

By the way, I also look at the PW trend that gives also some slight details about whether the trend is going up or down. It is useful.

 

Best wishes

[briankh3]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Hope this helps guys,

 

http://slil.ru/27769779

 

Lordvader, Thanks for sharing.

 

could you help. I'm quite confuse about how to use these indicators as the original strategy is based on IA setup. furthermore the archor pairs are different between the two indicators. Thanks.

 

brian

[finimej]

Re: T101 Busket Trading Strategy (T101 BTS)

 

Yes, Scareface, you are right about 61.8% turning point.

 

just came back from work. I checked it out this morning, and entried buy precis at fib 61.8%, now profits 530 pips and still growing.

Why did I not entry buy at 50%, because the down speed was pretty large and seems no stop there. The green priceline came to 61.8%, the buyer and seller start to negotiated, see the small zigzag at botten line? so here going to turn. Entry buy, then the stoploss will be just under the 61.8% line. Stoploss is small, and take profits shall be higher high? maybe. because we have higher low for the botten here compair to the previous botten turn up.

 

This is my liteforex cents account. or see the full picture here.

http://www.formulatrader.com/download/bild/T101chart6.gif

 

Thanks for the indicator. However, I only use this buy all pips plus together indicator, and do not use any orest indicator or dashboard at all. Why? Because the greenline is the pips of all 14 pairs plus together. if it goes up, you earn money. If it goes down, you loss money. No delay, no distortion. Indicator just confuse you and extract your attention.

 

If you are using the indicator, then please just use the dashboard indicator. You need to decompile it and make it to your pairs. T101 said, the orest indicator has nothing to do with T101 system. The dashboard expressed his T101 system.

 

I expect to take profits at least 21.2% resistant level line there. If the greenline come to there, then it will become my stoploss line. (I did not expected to exit there, lots of room to go in the upper). Entry is difficult, but exit is more difficult. When to exit at the maxi profits? that's is the question. now I have 560 pips now profits. Normally, a big wave shall have 1000 to 1200 pips in one run. Small wave has 350 to 500 pips run. I expect this wave shall be at least around 1000 pips or more. so the position will be closed in a lots later. we will see, maybe in the end of this weekend to close the position. Why? Look at the GBPJPY H4 and EURJPY H4, if GBPJPY is going stronger, it has lots of room to go up from here. If I exit now with 550 pips profits, then I don't know when I shall reentry again. It is lots safer to keep this position ( no jump in and out), and have now stoploss at 200 pips and aim the profits for 1200 pips.

 

Why I am using cents account? I am building in my track record. If I have 8/10 winning ratio and can keep the loss trade at small pips in continuely 3 months, then I will be allowed by myself to move to dollar account.

 

http://www.formulatrader.com/download/bild/T101chart6.gif

[finimej]

Re: T101 Busket Trading Strategy (T101 BTS)

 

updating.

I can not make any position on my demo acccount any more, so the forward testing is moved now to the cents account.

http://goodies4.mt4live.com/

liteforex cents account start from 1466 USD cents, on the 2009-09-14. to test my way of using T101 system. Here you can see I am still hold my buy all position, now the profits come to pips 781 pips already for this one trade.

(This was a old account that I have been test various EA before.)

 

Why I am holding my buy position? See the text one the picture. I expect this wave to make a higher high.

http://www.formulatrader.com/download/bild/t101chart7.gif