10.4 A Complete System

[The_Snowman]

More questions on the euraud chart posted...

Ross,

I think you need to refresh that EUR AUD chart by changing between 4H to Daily and back again - your Weekly Pivot lines are not correct , looks like you week has started on 13th? They need to run between the vertical white period separator lines. I can post a picture of my chart if you don't see it.

As for the EUR AUD, EUR has been range bound waiting on news, AUD has been weak but fighting back - my theory is that it wants to retest the 240 MA before another drop; couple that with another burst of strength for the EUR, that will set off the desired movement of EUR AUD pair.

Cheers, John

[nanningbob]

Can anyone confirm that Steve's MPTM sets the stop at 240 line when a trade enters?

[rostaus]

Can anyone confirm that Steve's MPTM sets the stop at 240 line when a trade enters?

Bob, I had a eurnzd trade pass the 240 and it didn't stop. Doing further testing. Shouldn't the mptm show the sl in our terminal or are they hidden.

[nanningbob]

Can anyone confirm that Steve's MPTM sets the stop at 240 line when a trade enters?

Bob, I had a eurnzd trade pass the 240 and it didn't stop. Doing further testing. Shouldn't the mptm show the sl in our terminal or are they hidden.

No it is suppose to set the SL on the server so you can walk away from the trade, It is not a hidden SL.

[aristid]

I am already planning some software to help with order sending. Here is what I am thinking. The ea is a manual trading aid and when dragged onto the chart should:
determine the direction to trade.
set the pending at the next point of s/r.
calculate the stop loss.
calculate the take profit on the basis of user settings - WR1, WR2, x pips etc

Subsequent trade management needs to be down to mptm, so some work to be done there.

Any ideas to add, guys?

Steve - regarding setting the pending at the next point of s/r - is it worth considering a variable allowing us to set x pips above/below i.e some people may wish to set the pending order just 1 pip above/below s/r, whilst others may prefer 2 or 3 or more - similar principle for x pips above / below target WRs/WSs etc.

It's just that I noticed from Bob's piccys that his entries/exits appear slightly varying distances from his entry/exit points

Just a thought

Regards

Paul

Will do. Makes sense.

hello,

I am guessing the most useful part in automation would be stopping the trade when AO changes color, this appears to be the biggest protection in the system. after entry, AO has to show the proper color first - example, going long, set up order, entry, wait for green AO, then exit whenever AO turns red.

I am thinking a way to approach profit taking would be take a portion of profits at the precalculated profit pivot and let the rest run until AO turns sour. it seems to catch some pretty good moves.

if this is already available please ignore me,
I am very new here, but so glad I found you guys.

cheers.

[nanningbob]

I am already planning some software to help with order sending. Here is what I am thinking. The ea is a manual trading aid and when dragged onto the chart should:
determine the direction to trade.
set the pending at the next point of s/r.
calculate the stop loss.
calculate the take profit on the basis of user settings - WR1, WR2, x pips etc

Subsequent trade management needs to be down to mptm, so some work to be done there.

Any ideas to add, guys?

Steve - regarding setting the pending at the next point of s/r - is it worth considering a variable allowing us to set x pips above/below i.e some people may wish to set the pending order just 1 pip above/below s/r, whilst others may prefer 2 or 3 or more - similar principle for x pips above / below target WRs/WSs etc.

It's just that I noticed from Bob's piccys that his entries/exits appear slightly varying distances from his entry/exit points

Just a thought

Regards

Paul

Will do. Makes sense.

hello,

I am guessing the most useful part in automation would be stopping the trade when AO changes color, this appears to be the biggest protection in the system. after entry, AO has to show the proper color first - example, going long, set up order, entry, wait for green AO, then exit whenever AO turns red.

I am thinking a way to approach profit taking would be take a portion of profits at the precalculated profit pivot and let the rest run until AO turns sour. it seems to catch some pretty good moves.

if this is already available please ignore me,
I am very new here, but so glad I found you guys.

cheers.

It is a good idea or if you think really long term until price crosses the 240 again which could be months away.

[The_Snowman]

what do you guys think about nzd/chf ? the monthly candle is above the 2ma, 4h trying to close above the WR1

@ Bob or Steve,

An excellent thread & trading method, I hope to stick with it a bit longer this time around.

Suggestion, how about a separate thread with heading "NB 10.4 Trades" where we can post charts about potential trades, analysis, possible setup, entry & exit, with all associated questions?

Thanks, John

[Dewey McG]

This system looks amazing. Here is a pending trade I just placed--let's see how it works out. Let me know if I missed anything.

[lhDT]

Hi Guys,

I will post some possible setup and questions (I'm all in for a separate thread for this).

USD/JPY : In an uptrend, I got some green bars. Is this a good setup. I mean, we can manually enter when we have a AO color change right ?
EUR/AUD : RSI2 is going to be flat at the next bars. Same setup for EUR/CAD btw.
AUD/USD : In a downtrend, RSI2 is also going to be topping a bit
AUD/CAD : Downtrend, AO color change a couple of bars ago but price still remain in the range. Still time to enter even if the price is trading near the 240 (20-25 pips).

General question :
- as these type of trades are swing trade, it isn't a bit late to enter position on a Thursday ?
- When AO color change, you manually enters at the H4 bar close only ?
- For AO, you go long only when you have a red to green color change and above the "0" line or upticks (opposite for short) ? Or you don't car, you jump when there is a color change no matter how the bar is.

Thanks,
Lio

[xrismak]

what do you guys think about nzd/chf ? the monthly candle is above the 2ma, 4h trying to close above the WR1

@ Bob or Steve,

An excellent thread & trading method, I hope to stick with it a bit longer this time around.

Suggestion, how about a separate thread with heading "NB 10.4 Trades" where we can post charts about potential trades, analysis, possible setup, entry & exit, with all associated questions?

Thanks, John

Snowman,

I think it's a Good Idea but then what is this current Thread that you and I are on for, I suppose it was meant for us to also show our Trade setups.
I was just thinking aloud.

Happy Trading Y'all,
xrismak