… 5 more hours and i’ll be on a 5-hour coach ride up to Kuala Lumpur to attend a seminar (with 18 other traders from Singapore) by Julius Figueroa - the creator of the Basket Trading System that was mentioned in the earlier post.

feeling excited about the trip, i’m looking forward to learn from the man who have made currency strength the backbone of his forex trading strategies.  the concept has been dicussed and documented in many places…so it’s nothing new.  Google “Tom Yeomans” and you will find some interesting read on the topic.

i first learned about it from Chris Lori way back when i attended my first LIVE forex trading seminar in Singapore.  then Clarence Chee (T3B) and CL Lim (Asia Charts) spoke about it at their course… although they only talked about it very briefly.

at a recent webinar, the chief trader of SolomonFX used a graphical currency strength meter that they have developed themselves to help them determine which currency is strong/weak so as to determine which currency pair to trade and in which direction. “The Forex HeatMap” by Mark Mc Donnell explains the concept  with excellent clarity.

and just a couple of months ago, i realised that a friend/mentor who has been trading professionally for over 25 years has also been using a currency strength indicator extensively.

reading about Trader101’s Basket Trading System was like a “eureka” moment for me.  where others have only used currency strength as a small part of their trading strategies, Julius (and Mark), on the other hand, had designed all his strategies around this very logical and sound concept.

to kick off my new year resolutions, my “Trading” resolution for 2010 will be to learn and trade the Basket Trading System profitably.  i’ll document my journey on this blog as i progress over the following weeks.  wish me luck! :O)

yours truly,

CK

PS : yeap… this post has nothing to do with expert advisors or automated forex trading.  however, i am sure the manual trading strategies from Julius will provide some inspiration for those who are interested in trade automation… me included of course :O)