10.3 SCALPER/RANGE TRADE SYSTEM

[Bruce]

When there are two different currency pairs, there must be sufficient free margin in the account to cover the deposit on both.

When you are hedging it is on the same currency pair; and so half the hedge has the effect of cancelling out the margin deposit used by the bad trade, leaving the other half of the hedge to use up nothing more than the same margin deposit that the bad trade was using.

The competing currency pairs have no such cancelling out effects on margin deposits.

Phil

Ok, now I see. That makes sense. Do you know if most brokers do this on margin deposits?

[pacinvest]

Hey Phil

Hate to weigh down our beloved thread with weekend chatter but just wanted to set the record straight on some personal background stuff.

I am actually an American but have lived in the northern part of New Zealand for just over 30 years. Sorry to crash your theory Phil, but I have only ever had a few beers in Sydney. I did live in Melbourne for a couple of years way back.

Phil I am also working here to a plan with my trading. All my life I have been semi-hopeless at accumulating significant wealth although we have an awesome and comfortable lifestyle here - I can't complain. But here's the drama I am a marine biologist with a passion for taking care of the ocean as opposed to destroying it as we are on most of the planet. A few years ago the penny dropped for me about my work and money. Working for the system simply me cast me in a role of doing more of the same - there was always some one and some reason to squash the big moves forward in terms of setting up protected areas or helping people that really wanted to do the right thing by the ocean. That's about the time I discovered 4X. To me now 4X offers a perfect way to be an environmentalist ..........................use the system to fund stuff that actually needs doing like planting trees and creating marine reserves. And take no prisoners along the way....................ala Flying Budda.........the great western financial mega system has an underbelly as all things do and we are redirecting this power to do good things.......awesome. Via this thread I now have a vision in my head of an endless gum forest somewhere in the outback created from your scaled up trading.

How many people think of trading as some sort of parasitic practice? I think not. The normal business world is parasitic.............

Getting back on topic here, Phil a ways back you talked about developing the emotional brain. This is another one of your pearls of non conformity. How many experts tell us to stifle and control our emotions in trading? Here's a way to test this idea. If you or BOB were to sit in front of a 5M chart with only a gray line for price action, nothing else on the chart. Could the two of you do 10 trades and be in profit. I think I might struggle to do so. But my money would be on you and Bob pulling this off. How? Well that's the interesting bit. I suggest it is not all left brained logic. And I suggest it demonstrates one important difference between rookie traders and master trades. Its the feel that is made from tons of experience and being open to this way of knowing. That's a journey.

Ok Phil and all rave done going to do some chart work now. So many entry ideas to master here!!!!

[atharmian]

DancingPhil,

See attached the original higher TF method for Flying Buddhas, courtesy of FF-Greame and your fellow boddhisatva coder, Swingman The FF links are in the pdf.

Do you know if anyone built a stable trading bot for this? The indi and alert EA are available, but no bot I can find. Looks like this ought to have wide application too.

Cheers,
Athar.

[xrismak]

xrismak thanks for sharing your results - I have also found this method very interesting - one question do you find the trades against the trend (retraces) just as profitable as those going back into the trend?

Thanks, Fire 580

Fire580,

Yes Trades against the trend (retraces) have also been Profitable as those going back into the trend for me because if you note I am trading in a Range, (Range Trading) DO to DS1/Fib1 or DR1/Fib1 depending on which side of the Daily Pivot PA is and mostly if one is trading the H1 timeframes and Below.
Thanks to Nanningbob and DPhil (10.3 and CT Systems) I am having greater success now than before when I traded Blind with my eyes wide open. Now I am going to Incorporate Flyn Budha and probably have even Greater Success.

Hope this brief explanation answer's your Question.

Happy Trading Y'all,

xrismak.

[xrismak]

Dphil,

Thank you so much for everything especially the Vivid Explanations on trading CT with 10.3 system, it just made me go dig up something like this cool Indicator to share for anyone who finds it useful from my Arsenal of Goodies, the Picture tells a thousand stories without me adding any words.


Y'all Have a Good Weekend.

xrismak.

Um, xrismak WTF is that?

It kind of looks like you've been secretly digging into Marsie's "eye acid".

Phil

DPhil,
I was only trying to make my own contribution to a Thread that has given me so much in terms of learning how to trade Profitably with a certain degree of Consistency, thanks to your Goodself, NanningBob, Awesome Baluda and many others here whom I have not mentioned I am getting Better by the Day, if Awesome Baluda or anyone deems it fit to Thinker with the Indicator and Come up with an even better and Simpler one for all of us all to use then I will be Grateful and also would be quite glad to deduce that I have contributed in a great way to make us all better traders.
The Criminals are in trouble .... we are going to get better at this Trading Biz.

Happy Trading Y'all,

xrismak.

[fire580]

xrismak - thank you for your explanation.

Fire580

[pacinvest]

Hey Phil

The fact that Bob asked you to stand in and 'carry on' is about the biggest compliment a trader can be handed. I really got a lot out of the last few days. For me all this 10.3 stuff is also played out at other time scales so this also valuable to 10.2 and beyond.

Hope you don't disappear from here, and thanks mate.

[SWG123]

Guys - can we please revert to discussion of trading methods only?

Politics, religion, will never result in anything but division and disagreement. I don't want to involve the moderators but seriously, this is a diverse forex trading forum and trading should be our focus - anything else is misplaced.

No private agendas - can we please get back on track?

No problem SWG123.
I'm just noticing that DPhil was the first to present his opinions about different things from political to environmental or desalination subjects. and I was saying in my first reply to DPhil that I'm not aiming to transform this thread in a political arena.

I was but just correcting some statements made here which are obviously wrong for a lot of people even if they've never lived in China.

I am closing this chapter by saying to DPhil that I have nothing against Chinese people and I really appreciate many aspects of their culture, their kitchen, and their medicine which I'm using daily thanks to Lifewave patch technologies .

I think it would be beneficial to recall that a special thread in this forum called Lounge is opened for all those who want to speak about their passions, dreams, projects, opinions etc...

Now Back to Forex discussion, definitely.

No worries, let's move on. New week starting, pips ahoy!

[nanningbob]

OK Back to trading. I still have 8 pages to catch up on but I am sure it was entertaining. Thanks Phil and the gang for all your insights. This is my test version for the week. I call it 10.3 simple. I will be going through Baluda's indicaotor to find out why some of the colors arent working right. So I went back through and made it simpler. If there is a Simple 10.3 sell set up, in other words DO is lower than the DP the back ground color will be Maroon. If the DO is above the DP then the back ground color will be Green AND price is in position to make a trade you will see the colors. If price has already crossed the line then the back ground color is grey. I have eliminated teh 10.2a reads until I can get the colors to line up correctly. So 10.3 SIMPLE. If you see the colors, check out the trade scenario. If you see grey, you missed it for now, wait for the retrace or ..............

The second thing I did was add a 10MA line to go with the 5.1 MA line. These are the two EAs I use the most to enter. I also included the DO EA along with the 2 jump EAs I have successfully used. I still havnt gottent the partial close EA to work on Cowboy IBFX. Dont know why so I did not include it. So I have made the screen as neat and clean as I could and made it as simple as I could. Maroon Sell, Green Buy, Grey you missed it for now. 10.3 Simple. I also went back to a light grey backround for my colors. Here is a pic and attachments. Gotta go to school. Had a great weekend. The Chinese stuffed me like a pig with the local food and it was good.

DP black DO pink WP Orange MP Dark Green

[nanningbob]

here is a buy screen in green and a sell screen in maroon