10.3 SCALPER/RANGE TRADE SYSTEM

[nanningbob]

Rule If something doesnt happen in first 3 hours wait until next session

[nanningbob]

This is what nzd open looks like. It is set an hour before the open and there really wasnt anything there all week but I will show it to you just to say I looked at it. A handful of 10-20 pip pops and that was all.

[nanningbob]

So the results of my study was this. NO jump EA just a straight -20 pip SL or other side of pivot line which would most of the time produce a smaller stop but I will count all SL as -20.
Euro session 5 winners potential of 280 pips -40 for 2 SL equal +240 but remember that is max and most likely not realistic. Get half or more would be realistic and that would be 100-150 pips total.
JPY session 2 winners and 2 losers 120 - 40 = 80 but only count half for 40
USA session 1 winner 2 losers 100 - 40 = 60 but only count half for 30
NZD session not really anything and I dont trade at that time so wont count it.

Total 5 days 3 trading sessions = 8 winners 6 losers 500 - 120 = 380 realistically get half lets say 180-200 pips a week from that pair.

Rules are simple set the pivot lines 1 hour before a session opens. Take any trades inside the box going back towards the open. In other words a typical 10.3 trade. Place a pending trade above/below the daily open line (light or white colored line) Set you MPTM to +100 -20 or set the SL and TP with the pending trade. If trade is not taken in first 2 or 3 hours in the session. Clean the slate and wait until the next session.

I set up 3 profiles, USA session, EURO session, JPY session. When you want to trade save the session to default and trade. When done save the next session to default and come back later to trade.

So set JPY session, trade for 2 or 3 hours, clean the board．Decide whether to close profit trades or let them run. Save Euro session to profile default.

Come back an hour before Euro session and set trades. 2-3 hours later come back, decide to TP or let trades run. Save USA profile to default profile.

Come back less than an hour before USA session, set your trades and let it run 2-3 hours. Come back TP or let trades run decision. Save JPY or NZD profile to default and ............................ you get the idea. I think this will really work.

Trade rules are simple 10.3, trade between the boxes in the direction of the open (white line). Trade by setting pending trades (no EAs at this point) at the break of the open, put SL on other side of the pivot or 20 pips away (your choice). Set your TP with pending order near a S/R line on the screen. You may not know this but you can set a trailing stop after the order is set or use MPTM to trail and set SL and TP lines. Set MPTM to 0 magic number and change from false to true handle all trades and you are set. I usually set my TP and SL with pending order because I can often lose my internet connection here in China. Thats it.

Now when the JPY does a big move, which it will for a while because of major decisions by govt. to shake things up, my pivot points and entries are not all blown to shreds for the rest of the day. Happy trading.

I am sure this will mentally screw everyone up; especially the newbies. Just adjusting to price action. When it changes I change. Now I can keep up with a rapidly changing market. If volatility is 2013, I have a system to match it now. ................... maybe ................... perhaps ............... why you guys even listen to me sometimes I do not know.

[nanningbob]

Steve has sent the following request. Please do not post anymore indis for Bob to play with.

[McNish]

TIB, I have never seen anyone explaining his workings or their system the way you do. Evey major or minor shift in the system, even temporally or experimental, is given in detail, every query is responded to, even if it entails going over the mundane stuff again. I can only imagine and envy that knowledge, respect and the All Mighty, all bowing to you in humility. I have no doubt that you have created more leader like yourself. Next time in China, I'll make it a point to visit you, if only to say Thank You.

BTW, I found the answer while I was at a break and edited my post accordingly.

Regards,

[blazko]

Bob - is there a chance you could update post #1 with the most recent EA's, templates, indies?
I found what i wanted - including Baludas work but that took quite some time.
Your thread is uber awesome but is growing so quickly that it makes me scared every day when i miss the time to catch up
Best regards

[Baluda]

Euro session 5 winners potential of 280 pips -40 for 2 SL equal +240 but remember that is max and most likely not realistic. Get half or more would be realistic and that would be 100-150 pips total.
JPY session 2 winners and 2 losers 120 - 40 = 80 but only count half for 40
USA session 1 winner 2 losers 100 - 40 = 60 but only count half for 30
NZD session not really anything and I dont trade at that time so wont count it.

Bob,

Just to be sure, what value do you use for 'hoursFromGMT' for the sessions you mentioned?

Thank you.

Paul

[Gertje]

Using the 10MA would have given me 217 pips on this trade, tnx.

I see these kind of trades more like 10.2 kind of trades, using the PA crossing the WP as the trigger to enter.

I'm currently in the next trades;
- buy EURGBP 67 pips [BBBE 10.2A trend trade]
- buy USDJPY 128 pips
- buy CADJPY 89 pips
- buy EURJPY 88 pips [re-entered yesterday after close out]

Best,
Gertjan

Hi Bob,

I'm focussing on the H4/ D1 TF's using your system, and wonder what settings on the jumps you use on the trending trades. I try to "concentrade" on the crossing of the WP from your pivot-book [very interesting read!].

Like today, I got EURJPY cross the WP from below, entered a buy, and got to 190 pips profit at some point. The array of trademanagement EA's [ I have BBBE and 10+1 jump using the same magic#, mistake] raise the SL to ~120 pips profit and there the trade was stopped out, only to take off again. I banked some serious profit on this trade.

This kind of trades I would like to stay in longer, but using the 10+1 seems to be able to give away to much after reversal.

What do you suggest?

THe 10.3 was originally designed to be a quick in and out system. So that was an incredible scalp. If you know the fundamental behind the move then you can just hang in there using the slope indi and wait for it to come back under 8 on the daily or 4H chart. The other way is use a MA line, like the 10 MA and keep you sl moving manually just under it. I looked at all the JPY crosses and they are sitting on double tops, with eur/jpy just barely breaking its last swing high. That would be a nice place to TP and look for another reentry or take half and bring your SL to the last swing low. Then you can look to add to the position if it breaks up again and have two trades running.

[retireme]

I can almost hear Paul's mind ticking like a runaway clock... love it!

[Gertje]

This could 'easily' be written in an EA?
- defined trading times
- pivot re-arrange
- open on PA cross the DO in the right direction, away from DP
- SL 20pips
- TP R1/S1 -/- xxpips [x*ATR]?

Looking forward.....

So the results of my study was this. NO jump EA just a straight -20 pip SL or other side of pivot line which would most of the time produce a smaller stop but I will count all SL as -20.
Euro session 5 winners potential of 280 pips -40 for 2 SL equal +240 but remember that is max and most likely not realistic. Get half or more would be realistic and that would be 100-150 pips total.
JPY session 2 winners and 2 losers 120 - 40 = 80 but only count half for 40
USA session 1 winner 2 losers 100 - 40 = 60 but only count half for 30
NZD session not really anything and I dont trade at that time so wont count it.

Total 5 days 3 trading sessions = 8 winners 6 losers 500 - 120 = 380 realistically get half lets say 180-200 pips a week from that pair.

Rules are simple set the pivot lines 1 hour before a session opens. Take any trades inside the box going back towards the open. In other words a typical 10.3 trade. Place a pending trade above/below the daily open line (light or white colored line) Set you MPTM to +100 -20 or set the SL and TP with the pending trade. If trade is not taken in first 2 or 3 hours in the session. Clean the slate and wait until the next session.

I set up 3 profiles, USA session, EURO session, JPY session. When you want to trade save the session to default and trade. When done save the next session to default and come back later to trade.

So set JPY session, trade for 2 or 3 hours, clean the board．Decide whether to close profit trades or let them run. Save Euro session to profile default.

Come back an hour before Euro session and set trades. 2-3 hours later come back, decide to TP or let trades run. Save USA profile to default profile.

Come back less than an hour before USA session, set your trades and let it run 2-3 hours. Come back TP or let trades run decision. Save JPY or NZD profile to default and ............................ you get the idea. I think this will really work.

Trade rules are simple 10.3, trade between the boxes in the direction of the open (white line). Trade by setting pending trades (no EAs at this point) at the break of the open, put SL on other side of the pivot or 20 pips away (your choice). Set your TP with pending order near a S/R line on the screen. You may not know this but you can set a trailing stop after the order is set or use MPTM to trail and set SL and TP lines. Set MPTM to 0 magic number and change from false to true handle all trades and you are set. I usually set my TP and SL with pending order because I can often lose my internet connection here in China. Thats it.

Now when the JPY does a big move, which it will for a while because of major decisions by govt. to shake things up, my pivot points and entries are not all blown to shreds for the rest of the day. Happy trading.

I am sure this will mentally screw everyone up; especially the newbies. Just adjusting to price action. When it changes I change. Now I can keep up with a rapidly changing market. If volatility is 2013, I have a system to match it now. ................... maybe ................... perhaps ............... why you guys even listen to me sometimes I do not know.