10.4 A Complete System

[cjthomson]

I've got these open:
GBPUSD - 2 short positions
NZDCAD - 1 long position
NZDUSD - 1 long position

A few more pendings in waiting...

How can you be long NZDUSD ?
240 is above, RSI2 is overbough, trendline pointing down.
I'm short 8323, tp 8162, sl 8374

Sorry, I'm short NZDUSD from .8328

[padnoter]

yes wiggy - i can see now it was a great one that escaped me (esp. the 3 bar formation @ ma). I had it in my head that an ma touch meant no trade (oops). still early days for me. i have managed a gbpaud short for 2 levels from wmr1 - closed now @ target of wms1.
also in long usdcad from wp
& gbpusd short from wmr1

[pips400]

Hi,
Was the AUDCAD long trade a "vanilla" 10.4 trade?
Is it because the 4h bars didn't close below the 240ma.... if they had closed below, we would have been in a "cancel pending long trades" until clearer trend.. is that correct?
Thanks

audcad.png

A bounce off the 240 is a bounce off the 240. CLose or no close you like to play those bounces. If it doesnt you arent in so it is a very safe trade. If it reverses the SL is near and the loss is smaller. I like to play for the bounce.

Last 3 weeks I have collected 344 pips off of the Eur/Nzd See the 3 bounces that were played.

Hi Bob, can you explain something please. You mention the SL is nearer so the loss is smaller. My understanding is that our lot/volume size of order is a percentage of balance/equity, in which case wouldn't the loss be the same i.e. whatever percentage we were risking? Sorry if I'm missing something here.

[cjthomson]

I've got these open:
GBPUSD - 2 short positions
NZDCAD - 1 long position
NZDUSD - 1 long position

A few more pendings in waiting...

How can you be long NZDUSD ?
240 is above, RSI2 is overbough, trendline pointing down.
I'm short 8323, tp 8162, sl 8374

Sorry, I'm short NZDUSD from .8328

NZDCAD complete:
Position 1 got stopped at the revised SL level for a 16 pip profit
Position 2 hit target for 30 odd pips

I'll take that!

[grimweasel]

Just to keep you all posted on developments I'm up 4% this week currently but trading this system on the Daily charts. I have substituted the H4 240 for the Daily 50 ema which gives me a rough 3.5 Monthly MA. I chose this as I know the 50ema is very important and very well used.

I'm using the system as per all the other H4 rules - it's just that I don't have time or the inclination to keep checking the H4 charts - life is for living and trading should be about making life easy to live - not living to trade.

I've had issues for years trying to counter trend trade all the time but thanks to Bob and his well thought out analysis and methods I now have a system I can believe in because it keeps me on the right side of the trend - and the pivots and RSI stop me from entering at the wrong time too.

Thanks Bob - I will keep you appraised of the daily results...

[grimweasel]

Current positions on daily are:
Long:

USDYEN

Short:

audnzd x2 pos
gbpcad x2 Pos
gbpnzd x1 pos

[cmeade2]

EurCad looking like a good short

[nicoacademia]

anyone on eurcad
it's moving

130306 EC.jpg

[cjthomson]

anyone on eurcad
it's moving

130306 EC.jpg

Big CAD news out in an hour.

[cmeade2]

Right, there may be a need for a hasty exit!

anyone on eurcad
it's moving

130306 EC.jpg

Big CAD news out in an hour.