10.4 A Complete System

[mjws00]

I am not sure by what you mean by all those losses. I see one valid trade that would have moved into profit for a short time and then come back to hit a SL. depending on how you played that move it would have been a win or loss. If you are referring to the movement around the 240 line, you probably would not be making those trades so I wouldnt even be counting them. In fact you really dont have a reason they would have even entered a trade because they look like they dont move high enough to enter off of a S/R line anyway. That is why we use pending trades because we want to see enough movement first before entering a trade. I dont see enough movement for that.

Bob, we were looking at Stoch 5 as a possible place for setting pendings. Lio had a nice idea about setting a pending at the high of first OS candle. It is really pretty in the trend. I just eyeballed it quickly and saw the trades on the left... turns out two (x) were not entered, (missed by pips). I couldn't see that in my quick eyeball. I actually had the low of the candle in my head, not the high as I should have. So it wasn't as bad as I initially thought.

We were just learning while discussing the template differences not really working with strict 10.4.

Mike

[Wiggy1965]

Pictures like that make me smile. Look at all the losses though if you were long above the 240 with that signal on the prior days. And around the 240. In a trend that idea will crush it as you get in on all the pullbacks, chops and turns will be painful. Playing one side of an oscillator in a trend will always work. It the other bits that are tricky.

I really love to see how people are starting to define and refine possible entries and pendings with this framework. Very very cool guys.

Mike

I am not sure by what you mean by all those losses. I see one valid trade that would have moved into profit for a short time and then come back to hit a SL. depending on how you played that move it would have been a win or loss. If you are referring to the movement around the 240 line, you probably would not be making those trades so I wouldnt even be counting them. In fact you really dont have a reason they would have even entered a trade because they look like they dont move high enough to enter off of a S/R line anyway. That is why we use pending trades because we want to see enough movement first before entering a trade. I dont see enough movement for that.

Bob,

You would have taken the trade on the first buy signal around 9:00 (GMT+2) on the 5th of Feb and maybe a second position around 16:00, these would have both stopped out on the 14th of feb for 186 and 251 pips....What has not been highlighted is if you run this system over many weeks, your likely to win more that you loose. You only need to go back to the entry on the 17th of Jan....If you had taken this trade, then added to it 30th of Jan, depending on how you played it, most likely first 175 pips and second at break even....You could have played it differently and made a lot more (or less)... You then go back further and you see many many more positive trades....so, although this is a significant looser, it's the cost of doing business.....

I agree we need a better plan to manage entries when price is transitioning to either side of the MA, but i think we may get burned occasionally by this, but as a whole the systems will work more often than not....Well, based on my limited experience with it....

I have personally been toying with the daily chart and only enter the 10.4 trades that are in line with the daily trend, so based on this i will be happy to keep trading it short.....I in fact have a couple of short positions on it now....

On a side note, there has been a little chatter about using shorter time frame to set entries, these are all great, but diminish one of the key feature of this strategy, and that is to have little screen time...Set you trades and let them run....So unless we can come up with improvement to identify entries and exit that are included on the 4h chart, I'm not sure it is right for 10.4...That's my view

Wiggy

Regards
Wiggy

[nanningbob]

Pictures like that make me smile. Look at all the losses though if you were long above the 240 with that signal on the prior days. And around the 240. In a trend that idea will crush it as you get in on all the pullbacks, chops and turns will be painful. Playing one side of an oscillator in a trend will always work. It the other bits that are tricky.

I really love to see how people are starting to define and refine possible entries and pendings with this framework. Very very cool guys.

Mike

I am not sure by what you mean by all those losses. I see one valid trade that would have moved into profit for a short time and then come back to hit a SL. depending on how you played that move it would have been a win or loss. If you are referring to the movement around the 240 line, you probably would not be making those trades so I wouldnt even be counting them. In fact you really dont have a reason they would have even entered a trade because they look like they dont move high enough to enter off of a S/R line anyway. That is why we use pending trades because we want to see enough movement first before entering a trade. I dont see enough movement for that.

Bob,

You would have taken the trade on the first buy signal around 9:00 (GMT+2) on the 5th of Feb and maybe a second position around 16:00, these would have both stopped out on the 14th of feb for 186 and 251 pips....What has not been highlighted is if you run this system over many weeks, your likely to win more that you loose. You only need to go back to the entry on the 17th of Jan....If you had taken this trade, then added to it 30th of Jan, depending on how you played it, most likely first 175 pips and second at break even....You could have played it differently and made a lot more (or less)... You then go back further and you see many many more positive trades....so, although this is a significant looser, it's the cost of doing business.....

I agree we need a better plan to manage entries when price is transitioning to either side of the MA, but i think we may get burned occasionally by this, but as a whole the systems will work more often than not....Well, based on my limited experience with it....

I have personally been toying with the daily chart and only enter the 10.4 trades that are in line with the daily trend, so based on this i will be happy to keep trading it short.....I in fact have a couple of short positions on it now....

On a side note, there has been a little chatter about using shorter time frame to set entries, these are all great, but diminish one of the key feature of this strategy, and that is to have little screen time...Set you trades and let them run....So unless we can come up with improvement to identify entries and exit that are included on the 4h chart, I'm not sure it is right for 10.4...That's my view

Wiggy

Regards
Wiggy

OK good explanation. I like the way this thread is open and able to discuss things. I like that I dont have to post for pages at a time.

[lhDT]

Pictures like that make me smile. Look at all the losses though if you were long above the 240 with that signal on the prior days. And around the 240. In a trend that idea will crush it as you get in on all the pullbacks, chops and turns will be painful. Playing one side of an oscillator in a trend will always work. It the other bits that are tricky.

I really love to see how people are starting to define and refine possible entries and pendings with this framework. Very very cool guys.

Mike

I am not sure by what you mean by all those losses. I see one valid trade that would have moved into profit for a short time and then come back to hit a SL. depending on how you played that move it would have been a win or loss. If you are referring to the movement around the 240 line, you probably would not be making those trades so I wouldnt even be counting them. In fact you really dont have a reason they would have even entered a trade because they look like they dont move high enough to enter off of a S/R line anyway. That is why we use pending trades because we want to see enough movement first before entering a trade. I dont see enough movement for that.

I quickly coded an indi to help to visualy backtest this. It plots the line itself.
Again, this isn't a strategy, a method or whatever. I just saw that yesterday when reviewing my weekly trades.

[nanningbob]

I am going to post a test template but I really like this one. Someone gave me, and (I am willing to acknowledge who did but I cant remember who because I was given 7 different Laguere indis). I like the way this one filters out the static, yes you will miss some trades but this seems to fit much better. You set your pendings when the purple line is above the gray area and take profit when it breaks below the gray area. Lot less guess work on setting pending trades and closing trades. Not perfect I know but much clearer and easier to see. I will post the template later have to put some finishing touches on it. If it seems good after a day or two of trading I will post it on page 1. I like this read.

The new templates will also have TigerCandles updated Weekly Pivot and Mid Pivot update.

[nanningbob]

This Laguerre mixes the Laguerre with the RSI and the two together make the same combo as the RSI 2, AO and TMA put together. However, the entrance area has been made tighter to set pendings with and a more clear cut TP area has been set. Again not perfect but I think better. Good luck. In side the folder are the new template, indis, and I added the scripts for setting pending trades. Just drag the buy or sell script on the screen and they will be set with a TP and SL. Then use the take profit and SL scripts to set you TP and SL.


Also showed pic of the aud/cad 3 trades in 3 weeks.

[nanningbob]

Cad/jpy trade will still have been a losing trade though. Cant filter them all.

[cmeade2]

This may be an example of why RSI(2) is better because there were no peaks in the RSI(2) in the mid week when the Laguerre had two.

Cad/jpy trade will still have been a losing trade though. Cant filter them all.

[nanningbob]

RSI 2 did too give a signal that is why people were into it. In fact your trade would have entered much earlier giving it a bigger loss. So you point does not hold up. Compare the charts.

[cmeade2]

Well now I am totally confused because my chart is quite different, and there is no signal. See below. This is RSI(2) of the TMA.

Any insights?

RSI 2 did too give a signal that is why people were into it. In fact your trade would have entered much earlier giving it a bigger loss. So you point does not hold up. Compare the charts.