Easy Basket Trading on Higher Time Frame (KOS System)
Last edited on September 7, 2013, due to changes in D1 settings for optimal settings. 4920 and 3280 are both good.
Big respect to KOS and other contributors to the wonderful system.
Please note that this system is only for experienced users, if you have any questions about basket trading please search on the forum. You need to know how to use the offline indicator Basketv6 to make offline charts, and how to use EA to manage transactions.
This is my take on the system that keeps me on top of things and gives me an overall feel for trends. The chart is self-explanatory. I usually trade for 1 hour and above.
The 3 I-XO-Hs are 925, 1230 and 4920 (3280). (The optional HAS setting for 1 hour is 2.9.2.12.)
1 hour trading is day trading, 4 hour and daily trading is swing trading.
Trading with the daily trend, if 4920 (3280_shows long), then my 925 and 1230 trades are only long trades and vice versa are short trades.
Since the 1 hour trade is an intraday trade, I added this additional condition that if the 925 and 1230 confirmations are the same, then the first basket is selected. Once 4920 (3280) is also confirmed, add another basket. Once it rises 250 points, switch to BE.
As of now, I am using T101 Basket trader v. 2.3 to manage trading with different magic numbers on each time frame.
Attached is a template for how I use the indicator. If you want to use this setting in your template, change the 4920 IXOAH setting to 3280.
Finally, I must add that from FF member: Wooden Claw 1000
I know it sounds cliche, but one day it will make sense to you, I mean really mean something to you, like an ah-ha moment.
Trends are your friends (and when you finally understand this, you will profit!)
Let the winner run and define the risk (my most recent trade had a RR of 20, which wasn't the case initially, but let it run)
Learn to trade clean PA (the only way out, you can keep going back to the indicator but you will fail)
Read some books like "Trading Within the Zone"
Spend hours in front of charts... (I spend 3 - 12 hours a day)
Passionate about trading and markets...
Big respect to KOS and other contributors to the wonderful system.
Please note that this system is only for experienced users, if you have any questions about basket trading please search on the forum. You need to know how to use the offline indicator Basketv6 to make offline charts, and how to use EA to manage transactions.
This is my take on the system that keeps me on top of things and gives me an overall feel for trends. The chart is self-explanatory. I usually trade for 1 hour and above.
The 3 I-XO-Hs are 925, 1230 and 4920 (3280). (The optional HAS setting for 1 hour is 2.9.2.12.)
1 hour trading is day trading, 4 hour and daily trading is swing trading.
Trading with the daily trend, if 4920 (3280_shows long), then my 925 and 1230 trades are only long trades and vice versa are short trades.
Since the 1 hour trade is an intraday trade, I added this additional condition that if the 925 and 1230 confirmations are the same, then the first basket is selected. Once 4920 (3280) is also confirmed, add another basket. Once it rises 250 points, switch to BE.
As of now, I am using T101 Basket trader v. 2.3 to manage trading with different magic numbers on each time frame.
Attached is a template for how I use the indicator. If you want to use this setting in your template, change the 4920 IXOAH setting to 3280.
Finally, I must add that from FF member: Wooden Claw 1000
I know it sounds cliche, but one day it will make sense to you, I mean really mean something to you, like an ah-ha moment.
Trends are your friends (and when you finally understand this, you will profit!)
Let the winner run and define the risk (my most recent trade had a RR of 20, which wasn't the case initially, but let it run)
Learn to trade clean PA (the only way out, you can keep going back to the indicator but you will fail)
Read some books like "Trading Within the Zone"
Spend hours in front of charts... (I spend 3 - 12 hours a day)
Passionate about trading and markets...
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