Scaled Baskets – My New “Money Pump”

If you’ve been hesitant to learn basket trading, here’s a good reason to start learning.  Recently, I returned from a free, forex-paid trip to Europe.  And I was trying to reconcile using two things at one time, baskets and auto-scaling.  Both utilize an EA, not for trading, but for field building.  So, the big question was “How to use two EAs on the same chart?”  The answer kept coming back, “No.”

So, I started looking at it from a different angle.  When we have a basket running, we want all pairs in the basket to be shown as GREEN, producing profit.  When this happened, I looked at my top producing pair.  I then open a 15M chart on that pair and add my template.  Now, I add the “Forex Auto-Scaler” app to the chart and set it to 1 full lot, 4 add’l orders at 5 pips spacing.  Now, wait til Price has moved through the order field and shows no sign of returning.  Then, wash/repeat with 2nd highest producing pair.

If you start early enough, you MAY get your top three pairs scaled before you need to shut down due to reversal.

My biggest scaled basket to date is $10,500.  That’s over a 5 hr run.  The basket was a 7-pr JPY setup.

This is super-easy and the profits approach the “scary” mark.  LOL  Check back because later in the week, I’ll upload a free downloadable zip of everything I use in Scaled baskets, except for the scaling app.  You’ll have to supply it (Google “Forex Auto-Scaler).  I’ve simplified basket setup also and instruction will be included.

Enjoy the rest of your weekend!

Happy EASTER!

Yes, I know I’m just asking for a visit from the PC crowd.  To them, I say “Happy Easter and stuff it!”  To the rest of you, the day of Hope is at hand  That’s really what today is all about, Hope for Tomorrow.  Hope that there’s a better life waiting for us.

Many fear our ability to believe.  Why?  They know they can exert little power over us.  Just like the plantation owners knew that if their slaves learned to read and write, the landowners would lose control.  And, really, that is the exact position of “Political Correctness.”  Rome became PC and look what happened to them.

Call me whatever name you want to, it matters not.  It says “Fear Not!” 365 times in the Manufacturer’s Handbook.  So, there’s not a day I’m afraid.  And, being a combat vet makes it even more so.

Enjoy your Easter Eggs and Chocolate Bunnies.  Today, we HOPE and rejoice that there IS one empty grave.  Forex?  Tomorrow!

BASKET TRADING

That’s why I haven’t been around for a while.  It is the most profitable way I’ve found to trade.  Bar None.  While most traders fight single-pair currency, I trade from 2 to 14 pair, at a time.  That’s the beauty, and profit, in basket trading.

While baskets are not easy to learn, they become extremely easy after just a couple of setups.  They really become easier quickly.

I had heard about basket trading but couldn’t find any reliable info on it.  Then, I ran across this thread in a Forex Forum:  http://worldwide-invest.org/threads/4143-Basket-Trading .  I’d also advise you to setup a folder on your desktop and download everything you are offered while reading it

After one week of working baskets, I took $5200 out of the JPY market with a 7-pair basket.  Not bad, eh, for a “basket beginner?”.  How much can you capture?  It’s time to find out!

 

Free Currency Strength “Meter”

If you tried my JPY Combo trade, you probably noticed it’s ranging at the moment.  Always happens AFTER I announce something.  LOL  Just keep an eye on it.  It’ll make you money.

Now, The Free Currency Meter.  Some of you may know Tom Yeomans.  He’s the Canadian who brought us the Accustrength Currency Meter.  Well, Tom has pulled something out of his closet he thinks we can benefit from .  It’s an MS Excel sheet. It’s a free download.  You need DotNet Framework 2.0 for it to work and you need your MT4 open and set to use DDE.  NOW, open the template in Excel.  Click to connect the two and in about 2 min, the chart will be filled in. Get it at http://www.binaryoptionsman.com/2013/02/free-currency-strength-tool.html .

Remember, you sell weakness and buy strength.  This tells you which is which.  ENJOY!

The Yang of the Yen

A recent series of unrelated events have occurred that brought me to a discovery. I’ve shared my find and it was suggested I post it.  So, here it is:

Trade YEN. Not one pair but 6 pair at a time! I also bank around $1000/day, most days. Do I have your attention now? LOL

No special indies or templ. are needed. Open up the six pair with JPY as Base currency (USD, AUD, CAD, EUR, NZD and CHF), minus the GBP pair. Set them to your favorite candlestick formation and set in H4 timeframes. Now, tile all windows vertically. Look at them real close. Notice anything? Yes, they’re all in sync or close.

Now change all 6 TFs to W1 TF. There’s your Trend, folks! You now have all you need to know.

I’d suggest you first open trades across the board (when you feel right) at 0.01 lot. Get a feel for the action and don’t forget initial bounce against order line. My $1K days sometimes come from as little as 0.04 lot trades. I’m using a $2K acct w/1:300 lev.

This “sync” situation happens throughout the day with YEN. I’ve tried this concept with the other base multiples and they all fall apart, never staying in sync like the Yen. The Base Yen pairs are a “fishing hole.” Use it and enjoy it.

At 7:45am this morning, I entered my 6 trades. It’s now 9:40am. I just closed all trades at $1197 profit. I’ve since reopened the trades and am up $214 and growing. I may do a couple grand today.

One final item. You need to Google the net for a “Close All Orders” script for your MT4. Makes exits much cleaner and saves money you might lose while you mess with order closure.

That’s it, gang. Stupidly sweet and simple. And it’s there, all day, every day. By all means, DEMO FIRST! Be comfortable with this before you expose your acct. While it’s close to automatic, you still need to master it to fully appreciate it.

May the Trend Be With You!

Option Bot Updated

There’s a new version of Option Bot sitting on their website.  The most obvious change is the mysterious “0.030″ setting.  It;s now in PIPs.  I’m using it in it’s basic “0.003″ setting.  Also, the signals Option Bot are giving are starting to be correct again.  A sign the market is returning to “normal.”

Let me tell you the steps I use regarding Option Bot.

1.  You have Option Bot installed, along with broker(s) and have it running.

2.  You get your alert.

3.  First, I note what Option Bot states I must do, trade up or down.

4.  NEXT, and many bypass this step, I pull up that asset in OB’s “Chart” Tab.  ”Does alert and chart verify direction of trade?  If so, go for it.  If in conflict, wait for next alert.  DON’T SECOND GUESS OPTION BOT!  You’ll lose more money.

Many leave out that last step, and lose their trades.   Don’t be one of them!  Here’s a video that shows what I talked about above.

Have Fun Trading.

Doom & Gloom, with a Twist

What do you hear day in and day out from MSM (Mud & Slime Media)?  Fiscal Cliff, Going Over, Prepare for the hit and higher taxes.  And, so many people swallow that dribble.  You and I, however, have a secret weapon; KNOWLEDGE.  Knowledge of how to make money without some yahoo in the middle.  We’re Forex Traders.

Recently, the question came up on three different webinars.  ”What does the Fiscal Cliff mean to you?”  There were many moans and groans emitted.  How would YOU answer that question?

The way I responded was picked up by all 3 presenters.  They agreed with me.  What I typed was “Fiscal Cliff = Opportunities!”

While the powers that be seem intent in going over that cliff, without regard to our well-being, I say “Mr President and Mr Speaker, let it rip.  Send us over!”  Their fear propaganda quit working long ago.  We traders KNOW how to take care of ourselves.  Unfortunately, the masses don’t.

While we can’t change that, we CAN make a dent.  So, I offer a CHALLENGE to all Forex Traders, whether you trade just standard Forex, Binary Options or 60 Second Binaries.  Pick one person and teach them how to do what you do.  As they say, Pay It Forward.

There’s no better time than yesterday to begin.  Give them a reason to wake up excited like you do.  Share the KNOWLEDGE!  Become someone’s “life saver!”

We know Forex isn’t rocket science.  They don’t.  YET!

Auto Binary Bot – WARNING

I tried to test this via purchase.  Two glaring problems face you.

ONE:  Application is hard-coded with one only broker, QFX.  A harder broker to use, I haven’t found.  Their onsite presentation actually drove me away.

TWO:  The instructions that come with the application are absolutely worthless!  After reading the 6 pages, you know less than when you started.

This is your next Migraine waiting.  Give it a wide birth.  It’s in Refund mode now.

Binary Options Update-Option Bot

I still love this application.  I even bought the Multi License Pak to give as Christmas presents.  The recent goings-on have called for some changes in action however.

ONE:  The instructions say “upon alert, enter trade in opposite direction of alert.”

NO!..Since the US Election and with the “fiscal cliff” talk, I’m seeing more wins by trading WITH the alert direction.  How long this will keep up is anyone”s guess.

TWO:  Don’t enter your trade(s) until you’re within 1 minute of cut-off time.  Take those last seconds to finalize your thoughts.

As you all know, the market is in “squirrelly” mode.  Binary’s no different.  The above has put me “back in the money.”

To your success!

OPTION BOT: Followup

This little application is stuffing my 5 broker accounts with money in a way that makes me feel a bit uncomfortable.  Why?  I’ve never made this much this easy and this fast before.

A little more insight into Option Bot.  When you get alerts, look the chart over before you place your trade.  While the alerts are mostly right, don’t follow them blindly.  I’ve traded against the alerted directive and still won.

It has taken me 2 days to take a $250 deposit with 24 Options to $1000.  Sweet, huh?  A buddy and I are planning an European vacation next May for 3 weeks.  I want $10K on hand.  And with on Option Bot, I’ll have it by Christmas.

No matter what gig you’re into these days, Internet Marketing, Forex or selling apples on a street corner.  If you’re not seeing you daily income climb, you need Option Bot!  That’s all there is to say.

One final idea that I used.  When you purchase, buy the $197 Multi-License package.  The would include your activation license and leave you with 19 “Christmas presents” for needy friends.