10.4 A Complete System

[Wiggy1965]

Hi 10.4 people....

I have noticed a number of people calling out trades that after further analysis and or questioning of the original poster, it appear the trade has no 10.4 strategy relationship.....As the is the 10.4 thread, could we all stick to 10.4 trades, or at the very least indicate at the start of you post that this is not a 10.4..... or, if you are using the 10.4 strategy in a different way , indicate this please.....

I think many people here are trying to refine there understanding of 10.4 and the number of post talking about trades that are not 10.4 is significant and a distraction....

Regards
Wiggy

[lavertrade]

Allison, One thing to note on USDCAD is that AO and price are divergent. The same goes for GBPUSD, price & AO have divergence so look for further retracement before price goes back into trend direction.

[Wiggy1965]

Hi 10.4 people....

I have noticed a number of people calling out trades that after further analysis and or questioning of the original poster, it appear the trade has no 10.4 strategy relationship.....As the is the 10.4 thread, could we all stick to 10.4 trades, or at the very least indicate at the start of you post that this is not a 10.4..... or, if you are using the 10.4 strategy in a different way , indicate this please.....

I think many people here are trying to refine there understanding of 10.4 and the number of post talking about trades that are not 10.4 is significant and a distraction....

Regards
Wiggy

i just try to keep it simple... price above 240.. rsi2 flat bottom, look to set pending above resistance..

price below 240.. rsi2 flat top.. look to set pending below support

Allison, comment not directed at you, I know you are trying to implement 10.4....the comment is intended to help people trying to learn this systems by eliminating the non 10.4 related posts

Wiggy

[Wiggy1965]

Allison, One thing to note on USDCAD is that AO and price are divergent. The same goes for GBPUSD, price & AO have divergence so look for further retracement before price goes back into trend direction.

Lavertrade,

Not sure what you are taking about re the AO and looking for setups, from what i understand and reading a number of post from Bob re the AO, we do not consider AO when looking for entries....From what i can tell, AO will always be divergent when we get a signal from the RSI (not sure about Sto as i don't use it) to place our pendings....Often this pending order could be 50 pips away because of the large time frames we are using, so when we do get entered, in many cases AO has now turn to reflect the direction of the trade......

Regards
Wiggy

[Wkcfx]

First: thank you Bob for this new system, and all the work you put into sharing it!

I attach some scripts to make it easier to put pending orders, and modify the stop losses take profits. These are drag'n'drop kind of scripts, that means you should drag the script onto the chart to the price level you want, and release the mouse button there.

If you drag the buy pending script above the current price it will set a buy stop order, if you drag it below the price it will open a buy limit order (opposite for the sell script).

The dragdrop_closeall script only close the orders of the chart it's dragged on.

The dragdrop_modify_TP and SL scripts will modify the stops and take profits of all orders of that pair to the level the script dragged on (easier to set the breakeven level on multiple open orders).

Please try these scripts first on a demo, if you plan to use it on a live account.

Zool, thanks very much for your scripts! One question, when I drag, "Drop Pending Sell" for example, to the chart I get the properties pop up dialog > I modify accordingly > click ok > nothing happens? I assume it must be a setting or an issue between my ears. Is there an instruction thread?

Thanks in advance!
Wk

[Wiggy1965]

Hi 10.4 people....

I have noticed a number of people calling out trades that after further analysis and or questioning of the original poster, it appear the trade has no 10.4 strategy relationship.....As the is the 10.4 thread, could we all stick to 10.4 trades, or at the very least indicate at the start of you post that this is not a 10.4..... or, if you are using the 10.4 strategy in a different way , indicate this please.....

I think many people here are trying to refine there understanding of 10.4 and the number of post talking about trades that are not 10.4 is significant and a distraction....

Regards
Wiggy

i just try to keep it simple... price above 240.. rsi2 flat bottom, look to set pending above resistance..

price below 240.. rsi2 flat top.. look to set pending below support

Allison, comment not directed at you, I know you are trying to implement 10.4....the comment is intended to help people trying to learn this systems by eliminating the non 10.4 related posts

Wiggy

ok.. i was just trying to contribute to your post . sorry

That's ok...all this talk (not from you) about counter trend trades and using RSI/Stoc in reverse is muddying up the water...From what i understand and think Bob has posted, this is a trend following strategy and attempt to capture the pullback (not change of trend) of the underlining trend....all trends have pullbacks...

The other key feature of the 10.4 strategy is the use (how it is used more specifically) of RSI and Sto, this is one of the pillars of 10.4 and if used in a different fashion, it's no longer 10.4 as we know it....

If over time (forward testing) Bob identifies improvements that can be made with the use o RSI Sto (or other indicators and or strategy) then I'm sure we will see it in 10.5, 10.6.....20.1 For the most part i like it just the way it is, as it is working and i don't really need to tinker with it.....I still have plenty of control (most control really) as i decide out of all the 10.4 setups which ones i take and how much risk/profit.....So, 10.4 in my case is 10.4 revision wiggy

Regards
Wiggy

[cmeade2]

Looks like you moved over to the STO. It's also flat lined on the TMA version. And it's at the mid line. Looks like a good trade. Question is when to get in.

ok so.. EUR/GBP.. stock down, RSI2 flat.. what's wrong with this trade and why shouldn't we trade it.

[Captain Jack]

I've attached a chart of the EURGBP 10.4 trade that people are considering entering. Here are the rules as I understand them from Bob:

1. For BUY entry, current price must be above the 240MA line
2. Either of the RSI or Stoch indicator, whichever one you choose to use, must have bottomed or "flattened" at the low end of the scale
3. When these 2 conditions are met, place a BUY STOP at the nearest support, resistance or pivot level ABOVE the current price. SL is set at the 240MA level
4. AO condition is not used when setting pending orders, it is used to exit the trade when the bar changes color. You are in a live long trade, AO color changes from green to orange, exit the long trade

1. For a SELL entry, current price must be below the 240MA line
2. Either the RSI or Stoch indicator, whichever one you choose to use, must have topped out or "flattened" at the high end of the scale
3. When these 2 conditions are met, place a SELL STOP at the nearest support, resistance or pivot level BELOW the current price. SL is set at the 240MA level
4. AO condition is not used when setting pending orders, it is used to exit the trade when the bar changes color. You are in a live short trade, AO color changes from orange to green, exit the short trade

I will be starting a thread in the Manual Trades are soon where I will be posting information of price action trading. I post this chart without Bobs template applied to show you what you are not seeing when you look only at the lines on a chart. There is a reason price reached each of these levels....do you know why and for what reason? Each letter represents a very specific action. Actions that are repeated over and over again. Learn these, apply them to Bobs system or others and you will be make better trading decisions.
CJ

[Jemook]

Can't wait to see your thread CJ!

[nanningbob]

I've attached a chart of the EURGBP 10.4 trade that people are considering entering. Here are the rules as I understand them from Bob:

1. For BUY entry, current price must be above the 240MA line
2. Either of the RSI or Stoch indicator, whichever one you choose to use, must have bottomed or "flattened" at the low end of the scale
3. When these 2 conditions are met, place a BUY STOP at the nearest support, resistance or pivot level ABOVE the current price. SL is set at the 240MA level
4. AO condition is not used when setting pending orders, it is used to exit the trade when the bar changes color. You are in a live long trade, AO color changes from green to orange, exit the long trade

1. For a SELL entry, current price must be below the 240MA line
2. Either the RSI or Stoch indicator, whichever one you choose to use, must have topped out or "flattened" at the high end of the scale
3. When these 2 conditions are met, place a SELL STOP at the nearest support, resistance or pivot level BELOW the current price. SL is set at the 240MA level
4. AO condition is not used when setting pending orders, it is used to exit the trade when the bar changes color. You are in a live short trade, AO color changes from orange to green, exit the short trade

I will be starting a thread in the Manual Trades are soon where I will be posting information of price action trading. I post this chart without Bobs template applied to show you what you are not seeing when you look only at the lines on a chart. There is a reason price reached each of these levels....do you know why and for what reason? Each letter represents a very specific action. Actions that are repeated over and over again. Learn these, apply them to Bobs system or others and you will be make better trading decisions.
CJ

First thank you for visiting and posting. I love learning from people who can trade. So feel free to post here and would be very interested in seeing your new thread.