10.4 A Complete System

[Gertje]

GBPCHF entered 3th level, TP at next.

[Gertje]

several pairs open, several pending

Keep an eye on the GBPAUD, looks good at moment

GBPCHF and GBPNZD are doing well at the moment.
Both @ 2 levels already [first level left-over from last week].

Because it is Monday and 1/2 way through the euro session I went ahead and pocketed the trades. Nice start to the week. OR is the GBP on for a big dive this week.

I see your reasoning, re-read the 10.4 booklet last weekend as well.
GBP is going down across the board, I try the greed-grab for this one.

[Gertje]

Because last week I started entering pendings for the WP, lotsizes are 1/3 of what would be for 10.4
Gives me a little less need to TP right now.

[Gertje]

several pairs open, several pending

Keep an eye on the GBPAUD, looks good at moment

GBPCHF and GBPNZD are doing well at the moment.
Both @ 2 levels already [first level left-over from last week].

i was going to set my pending on the GBPNZD but noticed the waves this thing makes and decided against it. what goes down on this seems to go up just as much

It's the wildest one out there.

Last 2 weeks I had 8 orders, only one went to TP, rest BE.
Totall profit for the pair; $ -0.15
Maybe today I can change that and tame this bronco....

[ai101]

What about GJ? Anyone thinking about placing a sell stop under DP?

Bob did the WP, seems he got it right...

Retraced from 61.8 fib of previous DT and R1, and a retest/123 on the way, it looks great! 200+ Stop loss is a concern, I can't place SL above 240 ma, its too close right?

GBPJPY-_H4_strategy name_20130311144219.gif

[Gertje]

goodnight guys.. damn near 5 am here in california. i set a pending for GBPNZD for the hell of it. targeting WS1.

i'll check everything in 2, 4 hour candles


Happy pipping !

Goodnight, I'm about to have lunch...

[pips400]

looks like AUDCAD wants to play hide and seek

[Nipponho]

Congratulations to those who took GN & GBPCHF.

I noticed something. I had deliberately avoided GN because GN has a larger SL than others. But it seems like those that are further away from 240ma are the ones that turned out beautifully. Just that once hits SL, it will be more painful.

[Gertje]

Congratulations to those who took GN & GBPCHF.

I noticed something. I had deliberately avoided GN because GN has a larger SL than others. But it seems like those that are further away from 240ma are the ones that turned out beautifully. Just that once hits SL, it will be more painful.

That's where you're wrong.

GBPNZD should have a smaller lotsize due to the 240ma distance resulting in a similar loss as GBPCHF.
Or you set a smaller SL and calculate lots accordingly.

50 pips x 0.08 lots = 40,-
100 pips x 0.04 lots = 40,-
200 pips x 0.02 lots = 40,-
400 pips x 0.01 lots = 40,-

[pips400]

Congratulations to those who took GN & GBPCHF.

I noticed something. I had deliberately avoided GN because GN has a larger SL than others. But it seems like those that are further away from 240ma are the ones that turned out beautifully. Just that once hits SL, it will be more painful.

That's where you're wrong.

GBPNZD should have a smaller lotsize due to the 240ma distance resulting in a similar loss as GBPCHF.
Or you set a smaller SL and calculate lots accordingly.

50 pips x 0.08 lots = 40,-
100 pips x 0.04 lots = 40,-
200 pips x 0.02 lots = 40,-
400 pips x 0.01 lots = 40,-

I think this is an important part of the strategy, and highlighted in Bob's manual about playing percentages. Basically, as far as my understanding of 10.4 goes, it doesn't matter where you place your SL in terms of how much is at risk, because you choose how much you're going to risk before placing the trade and the lot size is determined from there. That is, 1. choose risk, then 2. determine resulting lot size, and not the other way around. So the risk will always be the same for me at the moment that's 0.5% of balance, but where it gets good, is if the stop loss is not too far, it means the risk is the same, but the potential profit is much greater, that's why it's good to get a closer SL (not too close because you want room for the trade to breathe). The way that helps me look at it is, if my stop loss is 20pips away, and I'm risking 1%, for every 20pips it moves in my favour I profit 1%. So if I take profit at 60 pips I makde 3% not including additional entries.