10.4 A Complete System

[websie]

I have been in this trade since WMR2, I know that strictly speaking I probably shouldn't have got in before it crossed back over the 240 but it was too tempting. My question is should I hang on to it or is it going to bounce back up? the overall trend is down, it did a huge move over the past few days but now seems to be coming back to rejoining the trend. I have a 2nd order just below the WR. I haven't had much success trading this system so far, but today I seem to be able to see a bit better when the trades are coming and be able to set them up. thanks in advance

[mjws00]

Not sure why people are looking at JPY pairs, i cant see a JPY pair that is tractable and there are so many other options....

Probably because they have been moving 200+ a day . News tonight may get a little bit of flow goin... They are about due to stick the talking head up.

Perfect would have been stealing both sides of GBPUSD (not vanilla.) AUD exposure worked out nicely. CAD was lame. Hard to even bother watching a chart with this useless volatility. Got to get down to 10s to even see something move

Maybe we'll get Bob's end of week moves. Definately potential. Got a decent week booked so might bail. Though if things are movin there is no possible way for me to resist.

Mike

[mjws00]

Perfect rule following trade. No countertrend. Entries at pivots. I try to only post those in this thread so we don't confuse things. I don't always think in the box

[websie]

the original set up, no twists, addons nothing, plain and simple

[cmeade2]

A bunch of good 10.4 trades today.

GbpChf looks like it might be the next setup

[Pueo]

I'm short on this one, eur/sgd

[The_Snowman]

I have been in this trade since WMR2, I know that strictly speaking I probably shouldn't have got in before it crossed back over the 240 but it was too tempting. My question is should I hang on to it or is it going to bounce back up? the overall trend is down, it did a huge move over the past few days but now seems to be coming back to rejoining the trend. I have a 2nd order just below the WR. I haven't had much success trading this system so far, but today I seem to be able to see a bit better when the trades are coming and be able to set them up. thanks in advance

websie, the eternal traders dilemma, when & how to take profit, well, occasionally I get one the right way

this may not be your answer but something to think about, why not just set a profit target? not the usual "x" pips, but a $$$$ amount?

I know that Steve's excellent MPTM will do that for you, but it is too much for simple trading, but there may be a simple, straight forward EA that does that somewhere here on Hopwood forum?

what I use is shown on the screen of the chart below, you set the dollar amount you want to close trade(s) at and it does so with great effect, you can have as any trades as you want, on as many charts as you want

which may be a problem if you wanted to close only trades on one pair, as I said, there may be a dedicated EA for that, anyone?

as for the chart, I had 3 trades on GBP-USD, sure enough, when I was sure of direction, price retraced as it does with every trade of mine, however this time, it reversed and continued down

as soon as the pre-determined dollar amount reached, I used 5% of balance, all trades closed

now, no matter what happens, you always feel good that you have made your % of balance on your trade(s), you may feel robbed half the time when price continues but on the other hand, half the time you feel even better when it retraces

[The_Snowman]

CADJPY has been teasing shorts at the pivot at least 6 times. I thought the patient folks might get their break this morning. Crazy small range on dead JPY pairs this week. Really no big moves yet, only a few swings to play. Aud move was nice. GBP has swung twice. Blech.

Gertje just keeps racking up pendings. He is my 10.4 Hero. Last USD spike hit in his direction I think?

Mike

just flick to the Daily chart to see the problem there

do the same with GBP-USD and you will see a pair with both time frames in same direction

[Foreverforex]

Super cool chart, Snowman. What do you use to show the different market open/close trading hours? is that an indi avail on Steve's forum?

TIA,

FF

[The_Snowman]

Super cool chart, Snowman. What do you use to show the different market open/close trading hours? is that an indi avail on Steve's forum?

TIA,

FF

I think I found it here, AutoSessions, set FillColor to false to get just the outline

and here is the GBP-USD chart I said to look at in previous post, DAILY direction