30 pips per pair means 150 pips is the total goal. I have never got 150 pips in my basket. My own comfort level and rules have got me 120. I look at the net pips when I have a basket trade open. I look at how fast its moving if it jumps I will look at the pairs if one is going wild the wrong way I will close it. I don’t know how else to say I use my gut or intuition to trade I really feel one of the things the human mind is great at is seeing patterns that’s why I trade technical
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I have never made 120 pips in a few hours with any other strategy I have tried that had rules. That is a fact. With risk rules and lot size scaled across 5 pairs and 5 trades this is worth a look. That is the reason for this further examination of the technique of looking at a basket of trades at once for me.
this was from a couple days back.
yantz
Yantz,
Great suggestion! Recent mkt movement has made it difficult to trade all the 5 pairs at once in the original Skalpist’s DaisyChain pairs. I have traded only gbp/usd, eur/usd and aud/usd on 1 go leaving the jpy pairs, and on other occasion only traded the jpy pairs like eur/jpy and gbp/jpy while observing usd/jpy for the move.
Hence, only pocket about 70pips to 100pips per trade with those few pairs this week.
this is from a few minutes ago. at least 4 pairs are crossing major s/r lines. entered and got 50+ pips
yantz
Just collected 210 pips over about an hour and a half. I entered the chain only to catch some sharp retracement, I entered on a small retracement after it broke through resistance but it came down hard.
I scooped up some extra pips (about 40, I haven’t done my stats yet) hedging against the buy pairs that I bought (the yen pairs)
Good day, lets hope it turns into a good week.
Yantz, Phoenix told me about your asian pairs, now there are six pairs, do you wait for all six or will you bid as little as 4 pairs?
hi reaperkk! since i’m playing the yen’s strength and weakness only, i wait for all 6 to line up. and they do line up a lot. only for about half a day last week when the eur/jpy and gbp/jpy goes against each other, caused by a sharp move by eur/gbp. today is not so good. few opportunities for the yen basket as several pairs are doing their own things. only managed to grab 50+ pips. and as i mentioned before, some of these pairs have really large spread. i have not traded this basket live, still testing on demo.
yantz
Well, I got total of 280pips today.
150pips from london session when news out about gbp PMI better than expect. And another 130pips in US session with better than expected news on US PMI. Can see that all 5 pairs was doing the same on the hrly chart. I confirmed with the 30mins and before the hrly candlestick close. Then go to 5min and and 1 min chart to look at the THV tirx indicator to enter. I still use the trix indicator cos I find it very useful for somewhat good entry for me. I wait for the trix on the 1min chart or 5min chart to go below 0 level to turn up to enter long.
Congrats Pipster, yeah today is a good day, usually Mondays and NY market don’t do well for me.
Has anyone tried this system with a longer time frame? For instance, the daily or weekly chart to determine trend and a 4H chart for entry? I didnt read the original thread so I am still a little unclear about how the system works, I get the idea of trading several pairs that tend to move in the same direction but I am not finding much as far as stop loss, entry rules (is it just when it rebounds from an sr zone or is it candlestick pattern?). I am very interested in this strategy, I am always hoping to add more tools to the box. Thanks!
What is this Trix indicator ? How do you use this ?
Trix indicator comes with Cobra FX’s layout, it’s good. In the newer version of the daisy chain they replaced it with the MACD but I still think the Trix is a good way to find entries.
Hey Reaper,
Do you primarily use the version 2 charts (cobra fx) when trading or the newer version 3?
Thank you Reaper. To be honest, I don’t even know what is Cobra’s FX layout.
Yes, I stick to the version charts, I prefer it over V3.
As for cobra’s stuff, check out forexfactory.
Reaper, do you have the files for version 2 (zipped or otherwise)? I also prefer it over version 3 but somebody stole my laptop a couple of weeks ago and I’m trying to rebuild my new one. I can’t get anything going with the new version, but I was having a lot of success with version 2 in demo mode.
Thanks! (and I’ll back it up this time…
ForexMex, check your email 
So, I traded the Basket today and I was profitable for 190 pips, pretty good. Now a days I make sure all the planets align and while I trade the basket a lot less because of my schedule, I’ve been a lot more profitable. Anyone else trade this morning?
Anybody out there got a copy of the old daisychain files that includes the brain trend indicator and the trend-reversal arrows?
Reaper, thanks for the files, but I think the one I’m looking for may be even a bit older (?). I’ll try to figure this one out, though.
Ouch, sorry to hear about your loss ForexMex:(
I just started reusing the Cobra FX system myself since it worked better for me vs version 3, and also switched to 5m charts to find entries instead of 1m, as some of you guys done earlier; how are your results using the 5m chart instead of the 1m chart? This will be my first week using the 5m charts for entries.
I’ve been using the daisy chain method for a month or so now. I can honestly say that it is probably the best strategy I’ve seen thus far. I’m not an expert trader by any means, but I do see the potential.
I’d like to know if anyone can code an email alert for this system? When either 4 of the 5 pair or all 5 pair have at least 3 candles trending the same way (per the method’s rules) an email alert will be sent. I can trade the NY session no problem, but I feel like I’m missing out on the asian and london sessions. An email alert would help greatly.
Can anyone do this?
Thanks!
I had a great morning this morning trading the yen basket (aud/jpy, usd/jpy, eur/jpy, gbp/jpy, chf/jpy, can/jpy) and pulled in over 220 pips.
The issue with the yen basket is how expensive it is, so finding good entries is key.
I’ve been playing around with the 5m entries and really I don’t like them as much as 1m, I’m still going to give them a few more week though.