10.3 SCALPER/RANGE TRADE SYSTEM

[nanningbob]

Hi Bob,
I have been following your development of 10.2 with interest. The new system with a combination of 10.2a and 10.3 looks to have alot of potential.
My question - could this system be adapted for trading CFD's - metals, oil, indexes and ag-commodities or is it purely for fx futures?
Regards
Chris

Yes if pivots with S/R lines are valid as a trading tools. I am sure all of these do use pivots. One of the problems of Forex is most indicators were developed with stocks in mind and forex is a different animal. One of the main ones is it is not a central based price system. In other words stocks have trading centers and one stock price for all. Forex is based on banks and each bank can have a different price, start times, ending times, spreads, platforms, etc. Add to that brokers and different price feeds, start times, ending times, the base GMT time and you can get all sorts of variations. So each kind of market has its peculiarities. One of the problem with the NFA, which regulates the US industry is it is dominated by people from other trading markets so things like hedgeing and margin usage are very strange and non-sensical to them. They then dictate a trading style that doesnt fit, or I dont like, on the Forex market. FIFO first in first out is the stupidest things I ever heard in trading Forex. I have long term trades and short term trades. Why do I have to close my long term trade first instead of my short term trade. Anyway that hasnt been enforeced but I understand it is still on the books or brokers have a work around that regulation. So enough of that rant.

[nanningbob]

I am spending my Christmas in Nanjing China. I have an Apartment hotel which are really nice, big and comfy with fridge, stove top, etc. Dont have facebook and China doesnt like google but I can trade, email, and see Steve and his friends here in Forexland. Sounds like a good Christmas to me with my son, his wife, and her parents who know every good restaurant in town. Let the one week pig out begin. First on the agenda was to sleep all afternoon. Next is some fine Chinese restaurant. Life can be good.

[nanningbob]

I have signed up for AxisTrader out of Australia. Will let you know how it goes. Will be trying some hedging techiniques there and some ideas I have had for some years now. With Phil's contributions will see what we can come up with. Will try to post the basic 10.3/10.2a system by next week. Testing is pretty much done and I have come to some final conslusions. I think it will be a good year.

[retireme]

Will try to post the basic 10.3/10.2a system by next week. Testing is pretty much done and I have come to some final conslusions. I think it will be a good year.

Bob, is there any major change to what you posted on the 20th Dec? (10.3B)

Rgds
RM

[cad0811]

I am spending my Christmas in Nanjing China. I have an Apartment hotel which are really nice, big and comfy with fridge, stove top, etc. Dont have facebook and China doesnt like google but I can trade, email, and see Steve and his friends here in Forexland. Sounds like a good Christmas to me with my son, his wife, and her parents who know every good restaurant in town. Let the one week pig out begin. First on the agenda was to sleep all afternoon. Next is some fine Chinese restaurant. Life can be good.

Hi,bob!
Welcome you come to China nanjing, I have lived in this city, I am a real nanjing, ha ha, may have a few cups together!
Cheers!

[nanningbob]

Will try to post the basic 10.3/10.2a system by next week. Testing is pretty much done and I have come to some final conslusions. I think it will be a good year.

Bob, is there any major change to what you posted on the 20th Dec? (10.3B)

Rgds
RM

no will add TMA and some other stuff with explanations but the basics remain the same. 10.3 has always been Daily open above dailly pivot buy and daily open below pivot sell.

[nanningbob]

I am spending my Christmas in Nanjing China. I have an Apartment hotel which are really nice, big and comfy with fridge, stove top, etc. Dont have facebook and China doesnt like google but I can trade, email, and see Steve and his friends here in Forexland. Sounds like a good Christmas to me with my son, his wife, and her parents who know every good restaurant in town. Let the one week pig out begin. First on the agenda was to sleep all afternoon. Next is some fine Chinese restaurant. Life can be good.

Hi,bob!
Welcome you come to China nanjing, I have lived in this city, I am a real nanjing, ha ha, may have a few cups together!
Cheers!

I will be in Nanjing all week busy Monday with family but Wednesday or Thursday would be good for a cup of tea.

[xrismak]

Will try to post the basic 10.3/10.2a system by next week. Testing is pretty much done and I have come to some final conslusions. I think it will be a good year.

Bob, is there any major change to what you posted on the 20th Dec? (10.3B)

Rgds
RM

no will add TMA and some other stuff with explanations but the basics remain the same. 10.3 has always been Daily open above dailly pivot buy and daily open below pivot sell.

Hi Bob,

I Hope you will Include the Don't be Greedy Advice with the Other Stuff and Explanations, nearly all my friends have found success with this System but can't deal with the greed factor, myself Included but I am going to try replacing the Greed with the Contentment factor as regards trading your System next Year... oh yeah TMA Slope should help Enormously

Enjoy...

xrismak

[nanningbob]

Will try to post the basic 10.3/10.2a system by next week. Testing is pretty much done and I have come to some final conslusions. I think it will be a good year.

Bob, is there any major change to what you posted on the 20th Dec? (10.3B)

Rgds
RM

no will add TMA and some other stuff with explanations but the basics remain the same. 10.3 has always been Daily open above dailly pivot buy and daily open below pivot sell.

Hi Bob,

I Hope you will Include the Don't be Greedy Advice with the Other Stuff and Explanations, nearly all my friends have found success with this System but can't deal with the greed factor, myself Included but I am going to try replacing the Greed with the Contentment factor as regards trading your System next Year... oh yeah TMA Slope should help Enormously

Enjoy...

xrismak

To me the greed factor is solve by lot size. I have done my best, stress free trading if I keep my expectations to 10% in a month. When I try for bigger amounts that is when i get into trouble. If you try for 1% on every trade then you can lose 1-2% on a trade. If you try for 10% then you can lose 10-20%. The reason I have lasted this long in FOREX is trading small enough to last another day, week, month, year. Yet you can see a steady regular increase in your account. Some guys brag they double their account in a month, week, day. What they dont tell you is if you lose 1/2 of your account trading like that then they have to 4x the account to reach their goal. A very daunting task. If you start with 10K and next year you have 15K 50% increase you sure are doing better than bonds, stocks, or banks. 2nd year 15K becomes 22K. 3rd years 33K 4th year 50K 5th year 75K and so on. That is only doing 5% or less a month. So if you set reasonable goals you can achieve reasonable results. Sometime plug in 10% a month and retire in 5 years. 5-10% a month is very doable, I have found that to be a reasonable goal and reward.

[SteveHopwood]

So if you set reasonable goals you can achieve reasonable results. Sometime plug in 10% a month and retire in 5 years. 5-10% a month is very doable, I have found that to be a reasonable goal and reward.

When I joined FF in 2006, one of the first threads I saw was entitled, "20 pips a day" or some such.

''Naaahh. I can do better than that.'' thought I. Which is a good thing really, because if I had even equaled that, let alone exceeded it, I doubt this forum would exist today.

And I would not have blown several accounts.

Yep. Being realistic is A Good Plan.