10.4 A Complete System

[pipalong]

Great work Bob, thank you for an excellent system!

[johnf]

.

[garyfritz]

Thanks, johnf! Beat me to it. I've copied into Bob's post #1.

[nanningbob]

Thanks Bob for your continued generosity. I have a question about the marketinfo indi which provides the suggested lotsize for % allocation. I am wondering if it should be changed to give the trade size for when price is at the WP, MR1, R1 (for pending Longs) for 1/2%, 1%, 2% because the SL size changes depending on where you enter and i think you intend the risk to stay the same per position regardless of SL distance. Right now it is giving the size from the current price unless i am mistaken. I realize this would probably mean a bigger blue info panel for more info to display. Would this be too hard to program? If i have misunderstood something i apologize.

Well, I would imagine it is something you could quickly do in your head. I use one lot size for all my trading usually based on my account size. For example if I have 1000 dollars I could trade dime or nickles per 1000 and go from there. Lets say I trade dimes. If the screen says 100 pips until the 240 line my loss would be 10 bucks or 1% of my account. If it says 200 pips then it would be 2% of my account. If it says 400 pips then it would be 4% of my account and I would downsize the lot to .05 then. This way I keep my loss within my limits I set.

I didnt want to get into the variables in the booklet to confuse people. There is nothing that says you cant set your SL at 200 instead of the 240 line and keep your 2% loss level Maybe you see that SL is out side the WMid2 levels and you feel safe with that. That way you keep your SL at 2% of your account and you still trade the .10 lot. The whole purpose of MM is to keep you alive in your trading. Once you advance in your trading to stay within limits and disciplined in your trading you can adjust the rules some, not the percentages but where you place your SL. For now just put what I just said on the back burner until you get proficient with the system and then you can add thees finer points of trading. The key to really good MM is 1 level for losses multiple levels for profits. That is what is going to make or break you as a trader. If you can keep your losses at 1% or less and your profits multiples of that, you are going to have a very successful career.

Now to finally answer your question, I dont want to add any more complexity to the system at this point. I think you can do some of this math with a calculator or in your head. You do get those sizes when price gets there but not a constant. Baluda may look at this and think he would like it and take a shot but I am happy with my 7.4 increase in my account since last Friday just the way it is.

[nanningbob]

Oh... there is something else(hehe).

Can you add a time count down(in minutes) on the current 4H candle?

I use a separate one that sits on the chart.

If you put it into that blue information box, it will sit out of the way, not like the current one i'm using.

Just a thought.

cheers
Ross

You can ask Baluda to do that but I just look at a clock, candle opening and closings dont mean anything to me but I use the 4H chart because it fits my schedule so well. 8am I am in my classroom, 12 I am at lunch. 4 school is out 8 I am done with dinner 12 I am in bed. Before 8am 12 noon 4PM and 8PM fit my schedule like a glove so I dont need a countdown clock.

[nanningbob]

Managed to fix it Bob. Thank you

Here is the PDF

10 4 B Manual.pdf

But that one doesnt have all the pretty colors in it.

[nanningbob]

Hi Bob...

you are 100% in saying that the trades are really easy to see.I cannot believe how i missed so many what now seems, 'easy' trades.

A big congrats to you and your team of assistants/ helpers.

Can i suggest (only) if an alarm can be added to the RS!2 indy when it enters either OB/ OS zones.

Reasoning being that there is so many pairs to monitor, this would help to quickly identify pending trades.

Other wise, it appears to be a fantastic strategy.

BTW... checkout AUDUSD setting up for another fall??

Cheers
Ross

Some one out there got an RSI with a warning system. I am sure they exist some where.

[mobthehop]

file removed due to watermark...

[johnf]

Managed to fix it Bob. Thank you

Here is the PDF

10 4 B Manual.pdf

But that one doesnt have all the pretty colors in it.

I do apologise Bob
This is what I was seeing as colours originally

[nanningbob]

Managed to fix it Bob. Thank you

Here is the PDF

10 4 B Manual.pdf

But that one doesnt have all the pretty colors in it.

I do apologise Bob
This is what I was seeing as colours originally

turn the corrections off