10.4 A Complete System

[sponn]

I have got 3 g/cad and 2 g/chf sells, 2 e/gbp buys... my longs a/cad and n/cad were closed at be

[Gertje]

Just closed out everything, am up over 15% for the week.
Will plot all trades in the charts and post here over the weekend.

THANK YOU BOB!!!

[mjws00]

Just closed out everything, am up over 15% for the week.
Will plot all trades in the charts and post here over the weekend.

THANK YOU BOB!!!

Heh. Shotgun approach wins. Look forward to seeing what worked out Gertje. Have a great weekend.

[ciliano]

this week was shit..

Anyone have a good dashboard yet ? i've been having to look through about 20 and 30 charts to find some setups lol

I have just stopped looking through charts and only rely on this dashboard. It is working out decently. Got it sending updates to my phone too.
http://www.stevehopwoodforex.com/phpBB3 ... 452#p40452

[nanningbob]

Wonderful day Friday after a bouncing week. Doing mostly GBP and EUR trades on Friday I was 14-3, increased my account 5% with the big winners being triple entrances on GBP/NZD and GBP/CAD Total 510 pips in one day. Entered off of previous highs and added some levels and happened just as designed. Before that I had hit 4SL earlier in the week and was only up 1% for the week just recovering from those hits. Bad news for the GBP, multiple level trades and bingo all of a sudden a good week. So I celebrated by making breakfast for my wife and I. Smoked salmon cooked in butter with celery, onions, garlic, and cupful of mixed rice and barley. Little bit of Himalayan Sea Salt and ...................... Anyway going to school class restarts Monday from the holidays.

The gbp/nzd, price stopped short of my TP line near the WP and it retraced, I grabbed my profit later near the WMPR line. I played the bounce off of the triple top grey area and it worked. These are very good trades because price is not far from the 240 line so the SL is close by.

Here is GBP/CAD trade. Using Sto. 5: line is topped, price is bouncing off of 240 line, AO bars are above 0 line so looking for big move, set up multiple trades at WR1 - WMP1 - WP. Price began to retrace back to pivot line so closed and kept my profits, totaled over 150 pips on all 3 levels.

[nanningbob]

Try taking some profits at beven - these will help your beven stop outs. The amazing thing about 10.4 is that it has account protection at the forefront all the time, very excited about longer term testing with this system.

Again great work bob

What I do that other might want to consider is I split each trade in to 3 parts. So if the pending short is at the WP for example, I would have the SL @ the MA (or where appropriate) and TP's at WMS1, WS1, WMS2. As the first TP is hit a second batch of 3 orders is placed in a similar manner and the trades are set to BE. This way you take a little bit off the table fairly early but allow some of the trade to run.

It seems to be working ok and I feel comfortable with it and you don't feel so bad when the rest get stopped out at BE knowing you've banked a little bit.

Cheers,
Dave.

Another thing you can do so you bank lots of profits is to profit every line or every other line and only go 1 or 2 levels, especially Mon-Thurs. Then go for the big moves on Thurs. or Friday. Also you can go for 1 or 2 level profits and go for big profits when you see the AO set up for a big move like I showed above with the gbp. Below 240, RSI 2 or Sto 5 set up on top, however the AO is above the 0 line showing a potential big move. I bombed on the aud/chf that showed this earlier this week but caught 2 GBP trades on Friday that did. If the AO is showing big bars below the 0 line then you know the run is nearly done so play only 1 or 2 line profits.

[sponn]

Another thing you can do so you bank lots of profits is to profit every line or every other line and only go 1 or 2 levels, especially Mon-Thurs. Then go for the big moves on Thurs. or Friday. Also you can go for 1 or 2 level profits and go for big profits when you see the AO set up for a big move like I showed above with the gbp. Below 240, RSI 2 or Sto 5 set up on top, however the AO is above the 0 line showing a potential big move. I bombed on the aud/chf that showed this earlier this week but caught 2 GBP trades on Friday that did. If the AO is showing big bars below the 0 line then you know the run is nearly done so play only 1 or 2 line profits.

Does it mean that G/cad has still a room to move down (AO is not too much below 0 line).

[mjws00]

Zoom the chart out and draw a trendline across the highs. As you said it is swinging above and below the 240, so that 240 level isn't terribly relevant for the trade. It isn't likely to stop and turn there, but I can't see far enough left on the chart to know where exactly. My guess is that it puts you somewhere around R2 before we'd anticipate the trade? (Not looking at a chart.) That would invalidate vanilla 10.4. But the chart is still setting up.

I'd be looking to line up a strong short, but not sure it would comply with the rules. While pairs are turning and ranging, we cannot rely on the 240 "trend" to reduce our risk. This isn't a pullback turning back into the trend unless it turns exactly at the 240, which seems unlikely. Why wouldn't it test that high? I believe that is in line with your analysis.

Two bits.

[mjws00]

So for me. That massive 3 week area of congestion, and that huge spikey mildly higher high are a problem. There is a huge zone and you have to wait for it to resolve. If it turns hard there you may get a compliant short. But I have had nothing but heartache trading too close to 240 without clear direction. I'd wuss out and wait for something clearer. With perfect price action, the RR on a trade back to the low is decent. It could easily go sideways, get messy and retest that high. Maybe a compliant 10.4 long at that point? I'd be on another chart. Not being a purist (I love the framework) I'd see how the bands are behaving on those spikes and possibly trade that high, to low, to back high. This chart is sideways.

Just another way of looking at it. Bob brings years and years of experience looking at charts to this framework. I got killed trading it blind in the sim. So I am picky and want confluence.

Maybe Bob will see it and chime in.

[SteveHopwood]

Bob brings years and years of experience looking at charts to this framework.

I got killed trading it blind in the sim. So I am picky and want confluence.

FWIw, and probably not much. I want a decent distance in between the market and the 240 - otherwise the sl is too close.