10.4 A Complete System

[cmeade2]

Can you clarify one thing for me.

As noted, Bob talks about "setting your trade" when you have setups like you do now on the EurNzd.

I'm not sure, but I think that is pretty close to his exact words.

My question is do you take that as saying "make the trade". That is, go short in this situation.

As I said earlier, I see it as "get ready" to make a trade, because the appropriate moment may come soon.

if i lose this trade, that means everything i was told about how to trade this system is wrong.. and someone needs to post exactly how to trade this.. and delete the pdf on the first page

[trueblueTEX]

euro shorts triggering now... look valid to me, any thoughts?
fairly close to ma240, so stop lower.

eur_shorts.png

The Stoch on the e/u is on the other extreme right now.

Makes me wonder which indi should really be used.

[cmeade2]

OK I take your word for it. I need to go back and read it in more detail.

Can you clarify one thing for me.

As noted, Bob talks about "setting your trade" when you have setups like you do now on the EurNzd.

I'm not sure, but I think that is pretty close to his exact words.

My question is do you take that as saying "make the trade". That is, go short in this situation.

As I said earlier, I see it as "get ready" to make a trade, because the appropriate moment may come soon.

if i lose this trade, that means everything i was told about how to trade this system is wrong.. and someone needs to post exactly how to trade this.. and delete the pdf on the first page

get ready as in set a pending order at the pivot , resistance, or support.. it shows it right there in the pdf.. this is just what i read.. if i'm doing this all wrong, then someone should change the rules of the system

[trueblueTEX]

I had a g/nzd entry setup as well.. eurnzd triggered first lol

Did you decide to place your pending sell based on one of the dashboards?

[spotdespot]

if i lose this trade, that means everything i was told about how to trade this system is wrong.. and someone needs to post exactly how to trade this.. and delete the pdf on the first page

I have been following this discussion and I could see your point of view on this Allison until this post. You could have interpreted the rules perfectly and could still lose a trade - nothing is fool-proof.

Your post comes across as pretty disrespectful imo and cmeade is not being aggressive, argumentative or unreasonable - he is just saying there needs to be some clarification about this kind of situation. You have been given a very powerful method - just look at your signature - you don't get those results from a method that doesn't work. That method came in to being because Bob put a lot of effort in to it and a lot of effort in to explaining to all of us how it works. Now read your post above and see how you would feel about reading that if you had put all that work in and had been generous enough to share it.

Moving on.

I can say that I have been doing something similar to you - i.e. RSI flat - set pending trades at nearest S/R/pivot. It seems maybe we need to give the setup a bit of room and wait for the RSI to start moving away from the extreme before the trade is triggered - OR in a practical sense - don't put the pending trade too close to the price as the RSI STARTS to flatten?

I am listening with an open mind cmeade.

Cheers,
Dave.

[SteveHopwood]

Can you clarify one thing for me.

As noted, Bob talks about "setting your trade" when you have setups like you do now on the EurNzd.

I'm not sure, but I think that is pretty close to his exact words.

My question is do you take that as saying "make the trade". That is, go short in this situation.

As I said earlier, I see it as "get ready" to make a trade, because the appropriate moment may come soon.

if i lose this trade, that means everything i was told about how to trade this system is wrong.. and someone needs to post exactly how to trade this.. and delete the pdf on the first page

get ready as in set a pending order at the pivot , resistance, or support.. it shows it right there in the pdf.. this is just what i read.. if i'm doing this all wrong, then someone should change the rules of the system

FWIW, I am already short this pair, at the WP (Cowboy IBFX Aussie - not funded my GP account yet. That happens this week, then Cowboy IBFX are history)

I also have a pending short at WMS 1, with tp for both at WS. Originally, I had a pending sell at WS as well, but ITM took out all my pendings when a trade from another system rendered them 'unbalanced'. I had to do a bit of fancy footwork to persuade my own bot to leave my own pendings in place. Literal thingies, my bots.

I love the way 10.4 gives us entry signals that are left behind by a continued market move in the 'wrong direction'. Until ITM kicked in and deleted them, I had pendings at P, WMS1 and WS1, all left behind as the market continued to rise. Anyone who has been around for a while would have traded systems that had us into the market at these levels and praying for a reverse.

Nice one, Bob.

[SteveHopwood]

I had a g/nzd entry setup as well.. eurnzd triggered first lol

Did you decide to place your pending sell based on one of the dashboards?

as i said before.. price is below the 240.. RSI2 flat topped above the weekly pivot.. so i set my pending at the weekly pivot to go short.. at least that's what you are supposed to do.. based on the PDF they put here for this system

Yep. At least, that is my understanding.

[SteveHopwood]

Hehe. My ENzd sell is looking pretty pathetic right now.

Hey ho. We shall see. I made 3% yesterday, so a failure here will still leave me nicely in profit.

[SteveHopwood]

I had a g/nzd entry setup as well.. eurnzd triggered first lol

Did you decide to place your pending sell based on one of the dashboards?

as i said before.. price is below the 240.. RSI2 flat topped above the weekly pivot.. so i set my pending at the weekly pivot to go short.. at least that's what you are supposed to do.. based on the PDF they put here for this system

Yep. At least, that is my understanding.

thank you steve. from what everyone is telling me... i'm wrong..

Curios. Me being me, I have not read much of what has gone before. Maybe we are both wrong.

Hope not.

[SteveHopwood]

Hehe. My ENzd sell is looking pretty pathetic right now.

Hey how. We shall see. I made 3% yesterday, so a failure here will still leave me nicely in profit.

the only thing that put me negative was the news that was just released.. however the rules still apply that's why i'm gonna hold this one

News schmooze. Nobody cares these days. Even NFP does nothing worse that send the markets to sleep on Friday mornings once a month.

*waits for ENzd trade to hit stop*

Mind, if it does I will simply replace the pending sell and make up the losses on the way down again.