The Incredible 10.4 - For Dummies

[ross]

Did the pivots use to have an option to show the price? - I have looked at the settings and I can't find this as an option anymore - if they ever had this ????

[Haymaker1]

On the colours tab, just change the colour to what ever you want to see. Obviously not black cos thats the reason you cant see the lines.

Hope this helps.

[The_Snowman]

Hello. Let me first say what a great site this is. Something special. I've been lurking since 10.2.

I was wondering why the template hides the pivots past WMS2 and WMR2. Is it not recommended to place an order past these levels?

Thanks

Bob mentioned this in the original thread

Some quick questions;

- The [mid]pivots for S/R 2, 3 etc are missing in the template, is this on purpose?

- When opening a 2nd order, say 100 pips above the other do you set the SL for BOTH midway, meaning 50 pip above the 1st- and 50 pip below the 2nd order to get to a BE situation?

Tnx.

Price seldom goes outside 2nd mid pivot so i probably will not add positions after the 2nd mid pivots. So if price breaks out past that I will just stay with the positions I already have.

[The_Snowman]

Did the pivots use to have an option to show the price? - I have looked at the settings and I can't find this as an option anymore - if they ever had this ????

Yes

[cjthomson]

Is anyone watching this pair for a short entry? As far as I can see things are aligned here? This will be my first trade so please correct me if I'm wrong:

Position 1 - entry at 1.5656 (5 pip below WP); SL at 1.5747 (5 pip above 240MA)

Position 2 - entry at 1.5551 (WMS1); SL at 1.5656 (position 1's entry); once triggered then bring position 1 SL to 1.5656 also.

Position 3 - entry at 1.5441 (WS1); SL at 1.5551 (Position 2's entry); once triggered then bring SL of other two positions to same SL level.

Target for all three if not stopped will be 1.5357 (WMS2)

Any input would be appreciated.

Thx, Chris

[mjws00]

I set the pendings on it. Looks like we may be triggered. Your analysis on 10.4 is perfect.

I posted briefly on it in the main thread. We even had the bull run I wanted.

[cjthomson]

Thanks MJWS. I'm not quite triggered yet but I have 3 pending orders in waiting...

[nanningbob]

I have a related Empty4 question.

I'm looking at AUDNZD, which is in a down trend. I have entered a sell (demo of course) and would like to set another pending trade. Unfortunately, the moving priceline on the chart is only about 3/4" from the bottom of the window, and I can't see the next resistance lines.

Does anyone know how to move the priceline to the center of the window, so you can see all of the resistance/support lines?

Thanks.

I sometimes go to the daily chart and then you can see the lines better.

[cjthomson]

I have another couple of questions for anyone who's available to answer them:

1. Info Screen - the Slope Strength Indi (middle of screen) provides a view of what currencies are experiencing strength by rank in the last column (strongest at the top, weakest at the bottom). This provides a clue as to which currencies you should aim to take a long, however, how do you use this to decide weaker pairs? The documentation doesn't go into the detail of this for me to understand it well enough. Has anyone used this information in anger yet because it looks pretty good?

2. Histo / RSI / AO indi window - there is an orange number on the right side. What does this number represent? I cannot find reference to it in the documentation.

3. 10.3 & 10.4 traffic light bars (bottom right of chart window) - I understand the inclusion of the 10.4 colour bar but how should we use the 10.3 colour bar? Can anyone help out here?

4. What really helps me a lot is to get a feeling for how successful traders who are using a system approach their trading i.e. what is your routine? (Bob touched on this in the documentation for 10.3 but I've not noticed anything for 10.4)
a) Do you spend all day in front of the screen waiting for entries; (I have a day job with no access to Empty4 so how should I approach this)
b) Is there a preferred time to look for entries (eg just before sessions open?);
c) How often should I be reverting back to my terminal to check things out

Thanks in advance for your input.

Chris

[WideEyed]

Is anyone watching this pair for a short entry? As far as I can see things are aligned here? This will be my first trade so please correct me if I'm wrong:

Position 1 - entry at 1.5656 (5 pip below WP); SL at 1.5747 (5 pip above 240MA)

Position 2 - entry at 1.5551 (WMS1); SL at 1.5656 (position 1's entry); once triggered then bring position 1 SL to 1.5656 also.

Wouldn't that give you a worst case scenario of BE on the first trade ...but a possible loss on the second? Some discussion earlier suggested that the SL should be set so that the net effect of the two trades combined is BE.