10.4 A Complete System

[grasshopper]

Niiiiice

Thanks for posting the trade setups. It is sinking in even or me.
This system seems to be so natural and not forced. Patience yes, but a dozen pairs is a lot of hunting ground.

[Aus67]

There are some warning signs to be careful. Yes the conditions were met but we also see triple top. In other words price had stalled here a couple of times and the entry point should be above the previous highs. This will happen though It is the reentries that is giving you trouble because you are reentering against the signals. You can see I didnt take your entrance but am reentering if price bounces up. I also showed divergance with the AO. We need to be careful on 2nd entrances when price goes against us. We should wait for a signal to reenter not hoping price goes in our direction. So the original entrance I can see why you took it but dont ingnore previous strength showing at a position and place our entrance a above a previous strong R line. The reentries is where you are making a big mistake compounding a losing position. Your positions are added above the reentry point no below it. You need to wait for a new signal for those. If I had been in that trade I probably would have killed it when I saw price was not going to break that strong R line. No need to wait for it to hit my SL. Now you can see I am set up for that trade. The SL would not be far away with the 240 MA nearby.

Hi Everyone,

The attached USDJPY weekly chart shows price has just come off a high from way back in 2010.
One may expect more of a pull back from this level.. or wait until a clear direction above or below is formed. I get spooked when I see these things...
The other is the CHFJPY Daily showing a trendline holding for now. It may hold or break, but for me too close to trade until a clear direction. My two cents only!

Happy Pipping

[nanningbob]

Bob, you were mentioned in the Forum Members' Signal Service thread where they are talking about a potential arrangement where experts (like you) charge for a signal service. Newbies would then benefit from not just your theory but your interpretation of the charts as well. However ....

...That is what I think I want you to see.

I really appreciate that your goal is to teach people to fish.

I dont think I would want to do that simply because I dont have the time. I could post trade ideas once in a while but on an every day basis week after week I dont have the time. I have always felt that everything I know has been given to me free so I also give back. I feel my income is adequate and my earnings from Forex trading meet my needs. The basic idea is good though. I mean I really appreciate Steve and his thread but I am sure at some point this thing takes up so much time he should get some kind of income from it. For me these programmers write the indis I need. If you look at the system, the pivot and MidPivots were done for me by special request. The MPTM and jump EAs were made for me by special request. The RSI 2 indi was given to me to look at by someone else. I added the 240 MA line and compiled the system into a logical system but dozens of people made it a reality. So I feel very uncomfortable of people paying me for something that is basically borrowed from others who gave to me freely.

"Give and it shall be given unto you." I believe that to be very true that is why good things happen to me and that includes many non-financial things. So I would not expect me to want to do that at this time. If someday I become a full time professional trader and it is my main source of income then maybe but for now I am happy with what I am doing. Being a teacher/administrator and Forex is my passionate hobby. This may seem crazy to some folks but this has really become my way to relax after a hard day at the office.

[Dewey McG]

Closed AUDUSD Short when AO changed color to green.
Results : +85 & +57

Niiiiice

NZDJPY long at 77.689 has been triggered.

I am in the NZDJPY as well. It's not part of this system, but I like confluence. There is a bat pattern that has also formed so I think the chances of turning back up are pretty good.

[Fourxxxx]

"Give and it shall be given unto you." I believe that to be very true that is why good things happen to me and that includes many non-financial things. So I would not expect me to want to do that at this time. If someday I become a full time professional trader and it is my main source of income then maybe but for now I am happy with what I am doing. Being a teacher/administrator and Forex is my passionate hobby. This may seem crazy to some folks but this has really become my way to relax after a hard day at the office.

Thank you Bob, that a refreshing change. The net is full of people trying to show us how to get rich from FX in exchange for our dollars. If their systems are so good why do they bother trying to sell them?

[MurphyMan]

"Give and it shall be given unto you." I believe that to be very true that is why good things happen to me and that includes many non-financial things. So I would not expect me to want to do that at this time. If someday I become a full time professional trader and it is my main source of income then maybe but for now I am happy with what I am doing. Being a teacher/administrator and Forex is my passionate hobby. This may seem crazy to some folks but this has really become my way to relax after a hard day at the office.

Bob, you are one heckuva guy! A teacher's teacher. Having said that , I echo the praise for all those who have contributed so selflessly. I sometimes try to describe to my wife about our little community, and of course she doesn't really get it. Yes, she smiles and nods with an attempt at understanding, but this place belongs to us, doesn't it?

[padnoter]

Hi,

First post. Bob - an amazing system - thank you so much for the time & effort, and thanks to everyone else who has contributed to the system & thread.
I think I'm getting the hang of 10.4 - but no live trades yet, just viewing the results & analysing trades.

What do you all think about the attached AUD/JPY?
Would that have been a valid Long?
When RSI is flat, price closes well below WMS1 @ point marked A in pic, would that be the time to place a Long order just above WMS1
- which would have been triggered at point B, and would subsequently fail.

any comments appreciated - on how/why to avoid this one, or is it just a valid loser?

thanks

[lhDT]

AUDCAD triggered at 0450 just after RBA Steven's comments.

[nanningbob]

Hi,

First post. Bob - an amazing system - thank you so much for the time & effort, and thanks to everyone else who has contributed to the system & thread.
I think I'm getting the hang of 10.4 - but no live trades yet, just viewing the results & analysing trades.

What do you all think about the attached AUD/JPY?
Would that have been a valid Long?
When RSI is flat, price closes well below WMS1 @ point marked A in pic, would that be the time to place a Long order just above WMS1
- which would have been triggered at point B, and would subsequently fail.

any comments appreciated - on how/why to avoid this one, or is it just a valid loser?

thanks

It just broke the 240 but a buy just above WR1 certainly is a very low risk trade. If price beaks back up its a great entrance and if it doesnt you are not in. If it hits and retraces you have a tight SL so verry little risk with a potential great reward. Even though the system says look for buy a small break and back into the UT would not be uncommon. It is worth a try.

JPY comment. The new govt. in Japan wants easing of the currency but the present head of the Bank of Japan is not a big fan. He is being replaced with someone new and that will happen in April. I suspect the JPY will range until the new choice is announced and then reaction to that appointment or announcement will cause JPY to react again. So I do expect JPY to range for a while.

I do think this is a good trade but dont expect the same legs as the previous 3 months.

[rostaus]

Bob, you were mentioned in the Forum Members' Signal Service thread where they are talking about a potential arrangement where experts (like you) charge for a signal service. Newbies would then benefit from not just your theory but your interpretation of the charts as well. However ....

...That is what I think I want you to see.

I really appreciate that your goal is to teach people to fish.

I dont think I would want to do that simply because I dont have the time. I could post trade ideas once in a while but on an every day basis week after week I dont have the time. I have always felt that everything I know has been given to me free so I also give back. I feel my income is adequate and my earnings from Forex trading meet my needs. The basic idea is good though. I mean I really appreciate Steve and his thread but I am sure at some point this thing takes up so much time he should get some kind of income from it. For me these programmers write the indis I need. If you look at the system, the pivot and MidPivots were done for me by special request. The MPTM and jump EAs were made for me by special request. The RSI 2 indi was given to me to look at by someone else. I added the 240 MA line and compiled the system into a logical system but dozens of people made it a reality. So I feel very uncomfortable of people paying me for something that is basically borrowed from others who gave to me freely.

"Give and it shall be given unto you." I believe that to be very true that is why good things happen to me and that includes many non-financial things. So I would not expect me to want to do that at this time. If someday I become a full time professional trader and it is my main source of income then maybe but for now I am happy with what I am doing. Being a teacher/administrator and Forex is my passionate hobby. This may seem crazy to some folks but this has really become my way to relax after a hard day at the office.

It's such an inspiration to see countless people contribute freely to help others. People from all over the world contributing to a community that is free from the negative disruption of other forums, thanks to Steve. Giving has rewards and they are not just financial. Thank you to everyone who has contributed to the 10.0 series to bring us to the amazing 10.4 especially Bob, the main architect. Its nice to see my account going up instead of down for a change and a big surprise for my wife who isn't quite convinced : )

So far this week...

aususd +28
gbpcad +95
gbpaud +123
gbpnzd breaking even
ausnzd -40 short - still running
cadjpy Long -62 Think I've leant by that mistake, didn't stick to the rules and shut it down when the AO went red. Learning much from your pics and examples Bob, especially when things go wrong and you point out what went wrong.

I'm up more than I'm down so it's a good week.