Would be too ambitious of a task for me atm. I hardly catch 4 to 5 hours of sleep as it is with just few pairs running concurrent on my watch.
[QUOTE=“konan;497870”]
Would be too ambitious of a task for me atm. I hardly catch 4 to 5 hours of sleep as it is with just few pairs running concurrent on my watch.[/QUOTE]
Keeping track of 28 pairs only takes me 15 minutes a day at the most… It is essential that you have a large number of tiny positions open… Hence the name “Forex Basket”…
Make that 24 coz I would pass on few yen crosses right off the bat :56:
[QUOTE=“konan;497872”]
Make that 24 coz I would pass on few yen crosses right off the bat[/QUOTE]
No… You just follow the price on these pairs… We want to spread the exposure on as many correlated pairs as possible… It is essential to this methodology… It’s called “diversification”… I just closed several 900+ pip trades on these JPY pairs that I had open for months… You have to let winners run.
Don’t complicate things.
ok, i laughed a little there, so I take my original statement back
Dude, does it really make you feel good posting MG99’s method as your own? You seem clueless about how it even works…
[QUOTE=“cajunbayou;497981”]Dude, does it really make you feel good posting MG99’s method as your own? You seem clueless about how it even works…[/QUOTE]
Really enlighten me…?
Open a bunch of tiny positions THAT ARE CORRELATED under the assumption you are “diversifying”… Determining entry with essentially an un specified, discretionary method based upon the assumption of “if price is going up then buy… If its going down then sell…” With the vague TP and SL setting direction of “cutting losses and letting winners win.” Oh yah… And ignore every fundamental driver that actually moves price.
What exactly is proprietary about this vague, useless, generic “methodology”?
This is best thread.
it now has the appropriate # of likes that it deserves :59:
nevermind, thanks for info
Hey Gang! i know there has been some people who are starting to get suspicious of if I actually am able to trade this basket trading methodology profitably… of whether opening a bunch of tiny, correlated positions and holding them for a really long time is making me money… To those of you asking for proof of what I’ve been proclaiming loudly in my thread and elsewhere… You are just going to have to take my word that it works. I mean if I posted results of actual trades I am making, all that would do would be to actually validate what I am saying… Plus I learned from ICT and know that if I can’t back up my claims I better not even try as it would make me look silly to not be able to produce… Anyways… People need to figure this out on their own… I didn’t open this thread to show people my methodology afterall.
So just take my word for it gang… Promise
I still think that the method is good tho. Medisoft had great opportunities to close all the trades in overall profit before Ecb meeting and NFP but got nervous when he saw the loss and closed only some at the wrong time too, which then put an imbalance to the whole thing. He could still recover tho. I should try this on a demo if I find the time somehow to test it myself…
[QUOTE=“konan;499676”]I still think that the method is good tho. Medisoft had great opportunities to close all the trades in overall profit before Ecb meeting and NFP but got nervous when he saw the loss and closed only some at the wrong time too, which then put an imbalance to the whole thing. He could still recover tho. I should try this on a demo if I find the time somehow to test it myself…[/QUOTE]
It’s not tradeable… What exactly is the point of a trading “methodology” if there is no entry and exit system. It takes a profitable entry and exit system to make this methodology profitable… If you already have a profitable entry and exit system to begin with, then you will be more profitable trading fewer pairs with larger positions… Which invalidates the whole point of this method.
<What you mean? He has a system! He closes when he believes that it’s time to close based on the chart and fundamentals…
[QUOTE=“konan;499683”]
<What you mean? He has a system! He closes when he believes that it’s time to close based on the chart and fundamentals…[/QUOTE]
No he doesn’t use fundamentals… He says explicitly “ignore the news” … He may have an entry and exit system but he hasn’t shared it… Other then “follow price”… “Watch price action” … Vague, generic and useless.
I was talking about Medisoft which I had a comment or two exchanged on Myfxbook (coz the douche mg99 banned me from his thread for some reason) about the fundamentals of Yen and Dollar.
[QUOTE=“konan;499687”]
I was talking about Medisoft which I had a comment or two exchanged on Myfxbook (coz the douche mg99 banned me from his thread for some reason) about the fundamentals of Yen and Dollar.[/QUOTE]
Oh I’m not talking about Medisoft… I’m talking about mastergunner.
Medisoft would do better if he cut down his analysis to 6 pairs… And forgot the garbage mastergunner is trying to pass off in his thread.
“Make sure you winners are bigger then your losses… Blah blah” Thank you Sorros!
Or 20 something with smaller lot sizes.
One “r” in Soros btw.
[QUOTE=“konan;499692”]
Or 20 something with smaller lot sizes.
One “r” in Soros btw.[/QUOTE]
Lol… If you have a profitable system then you don’t need 20 pairs.
You do because more pairs means more potential pips…maybe…i dunno before i try it
I can’t still imagine how can you monitor 28 pairs all at the same time. I would think I would need to hire an assistant to monitor some of it. Probably add 5 monitors side by side? When they blink red and green color all at the same time it will be look like Christmas lol. I know I am still a noob…no clue…