10.4 A Complete System

[Wiggy1965]

Hi Ashflash:

I apologise for taking offense, its not always easy posting to a thread where you are conscious that you maybe contributing noise rather than contributing value. I know about the dummies thread, I have posted there previously. All I'm trying to do on this thread is post trades, get some feedback so I can learn and other people can learn from my trades. Just PM if you want to continue the conversation.

Thanks
Mark

Mark, the entries and stop losses are pretty well defined for 10.4....That's what makes it a very well considered system....If you had placed the stops as per 10.4 at the 240MA you would be still in the trade.....You could in fact be in this trade all week and in to next...You also would not be in a second trade at this point....

So the error appears to be that your not sure of the Stop Loss and the additional trade rule....

Take another look at the manual......

Part of the battle is getting the entry correct, you did this for the first trade at least, good job...

Regards
Wiggy

[Wiggy1965]

Attached is the CADJPY

I am thinking that it maybe getting setup for a sell at the pivot.

given that it is coming off some major resistance on the bigger timeframes and off a trading channel on the 4hour.

Any thoughts or opinions ?

Yes, i have set a pending for this trade, however i have placed my pending below the two previous lows...my entry will be at 90.470... This takes it below the two lows and the (kinda) round number of 90.500....I have also set a second pending at 89.465.....again this is below the mid pivot and below the previous low.....my target for both trades will be Weekly Sup1....This will be approximately 150pips for trade 1 and 45 pips trade 2

I also don't expect to see these trades mature until the end of the week, so i have to be patient...

Regards
Wiggy

[eltax100]

Hi all, can I ask Bob / others,

When setting the pending orders and assuming the setup looks good, the first order is easy to work out the lot size, however what the the best lot size for the second pending ? still use the 240 as sl or the first entry ?

if I use lot size based on the Ma then they will be getting smaller, what has anyone else with success been doing.

BTW great system thanks

[nanningbob]

The USD/CAD signaled earlier with the info screen showing USD strongest currencyh and Cad 2nd poorest. So setting up my trade for the USA open.

i posted this same setup.. and got criticized

All I said was the trade wouldnt go anywhere until the USA session.

[nanningbob]

Hi all, can I ask Bob / others,

When setting the pending orders and assuming the setup looks good, the first order is easy to work out the lot size, however what the the best lot size for the second pending ? still use the 240 as sl or the first entry ?

if I use lot size based on the Ma then they will be getting smaller, what has anyone else with success been doing.

BTW great system thanks

Lot size remains the same.

[Wiggy1965]

Aud/Cad 3rd strongest but not that strong versus the 2nd weakest. Could be a nice bounce off of the 240 line. If it doesnt then no harm. Low risk some reward. Blue line on screen shows consistent support or resistance in this area. I marked the areas in grey.

Bob,

Is there any reason you are using v1 of the template (RSI) for AUDCAD and v2 for the other charts you posted...?

Wiggy

[Nipponho]

Among those setups Bob posted a while ago, CadJap looks the best, next is GbpJap. Both have their OA at the wrong direction. CadJap is better as SL is about 100+pips whereas GbpJap SL exceed 200 pips.

I entered pending at 90.57 weekly pivot, my first 10.4 trade. Good luck everybody.

[Fourxxxx]

Oh, I can make 450 pips in one week without even starting to sweat!

The problem is that I will probably have 1500 pips in drawdown and will loose 1000 of those!

You should never feel lonely.

[Wiggy1965]

The USD/CAD signaled earlier with the info screen showing USD strongest currencyh and Cad 2nd poorest. So setting up my trade for the USA open.

i posted this same setup.. and got criticized

Allison, you can do better than that..my 3 year old daughter chucks a better tantrum...

I thought we covered this off....

There is some difference in the two templates and RSI an Scotch indicators that have shown up in this trade.....They will show up in other trades, so maybe people need to be clear when posting trades setups which indi\template they are using....so if somebody wants to look, they could could ensure they have the right indicator...

I also notice that Bob has posted three trades (your USDCAD included) and appears to be using both templates/indi's.....not sure this is by design....I have sent a post pointing this out....

now stop with the bottom lip quiver and find some trades....

Wiggy

[cmeade2]

Bob

If it breaks through the 240 would you sell it?

cmeade2

Aud/Cad 3rd strongest but not that strong versus the 2nd weakest. Could be a nice bounce off of the 240 line. If it doesnt then no harm. Low risk some reward. Blue line on screen shows consistent support or resistance in this area. I marked the areas in grey.