10.4 A Complete System

[nanningbob]

Bob - or anyone else. Which version of the laguirre indi are you using in your screenshots??

Page 160 is the test version.

[nanningbob]

Bob had a great post a while ago about watching paint dry.

I think we are there now.

Not commenting on your post so this is not personal.
Every time price retraces and holds the impatient trader begins wringing his hands and starts looking for a new system. I see a lot of crying the last couple of pages. To the one complaining he has had losses this week only 2 pairs have crossed the 240 line aud/usd which I moved SL to a wider area because the USD is the stronger currency but if you took a loss there it was a small loss so why are you crying the other one was the gbp/jpy after it moved over 50 pips in profit. I took a less than 30 pip SL on that one. So why are you crying about bleeding to death. If you are placing tighter stop losses and using too big of lots then you are using bad MM and that is the result of bad MM and using tight SL. I am up over 1% of my account so far this week. Bailed on the aud/cad too early and didnt catch the gbp/jpy profit when it was there, was out shopping, or I would be up closer to 3%. Yeah so what. still have about 20+ pendings to hit if the market goes back into its trends.

Despite all the other stories and theories going on about Forex it doesnt change what Forex really is. Forex is individuals, govt. and business exchanging money, it is NOT about traders. If Exxon or any other big company or govt. cashes a check from country/business A or B or C you better believe it is big enough to move the market and has nothing to do with fundamentals or indicators. You either give the market room to breathe or pay the price. 4H trading is one of patience, daily traders more patience, and so on. If you want to go in and out quickly go back to the 15M charts and get your brains beat in.

10.4 is a trend trading system that still makes profit when the market is ranging. That is good news; you dont have to change your trading style when the market changes. Your profits are just smaller that is all. Grab those one or two level profits and be happy your making money while waiting for JPY to choose a new bank chief, the USD is waiting on Congress and the President is making a deal, the Euro tries to figure out what to do with Italy, Spain, Portugal, and Ireland, and down the road France comes into the picture. Aud and NZD are waiting for China to buy more stuff from them. When anyone of these things happen the markets will take off and you will be quite excited. Until then the market is ranging but price is either just above or just below the 240 line still giving you trades. So off we go.

[nanningbob]

Alternate entrance, placing a buy after the last swing high. USD/JPY

[lhDT]

Alternate entrance, placing a buy after the last swing high. USD/JPY

Why not MR1 ? By the way, do you place pending at the mid-resistance/pivot generally ?

[rosst]

Bob had a great post a while ago about watching paint dry.

I think we are there now.

Not commenting on your post so this is not personal.
Every time price retraces and holds the impatient trader begins wringing his hands and starts looking for a new system. I see a lot of crying the last couple of pages. To the one complaining he has had losses this week only 2 pairs have crossed the 240 line aud/usd which I moved SL to a wider area because the USD is the stronger currency but if you took a loss there it was a small loss so why are you crying the other one was the gbp/jpy after it moved over 50 pips in profit. I took a less than 30 pip SL on that one. So why are you crying about bleeding to death. If you are placing tighter stop losses and using too big of lots then you are using bad MM and that is the result of bad MM and using tight SL. I am up over 1% of my account so far this week. Bailed on the aud/cad too early and didnt catch the gbp/jpy profit when it was there, was out shopping, or I would be up closer to 3%. Yeah so what. still have about 20+ pendings to hit if the market goes back into its trends.

Despite all the other stories and theories going on about Forex it doesnt change what Forex really is. Forex is individuals, govt. and business exchanging money, it is NOT about traders. If Exxon or any other big company or govt. cashes a check from country/business A or B or C you better believe it is big enough to move the market and has nothing to do with fundamentals or indicators. You either give the market room to breathe or pay the price. 4H trading is one of patience, daily traders more patience, and so on. If you want to go in and out quickly go back to the 15M charts and get your brains beat in.

10.4 is a trend trading system that still makes profit when the market is ranging. That is good news; you dont have to change your trading style when the market changes. Your profits are just smaller that is all. Grab those one or two level profits and be happy your making money while waiting for JPY to choose a new bank chief, the USD is waiting on Congress and the President is making a deal, the Euro tries to figure out what to do with Italy, Spain, Portugal, and Ireland, and down the road France comes into the picture. Aud and NZD are waiting for China to buy more stuff from them. When anyone of these things happen the markets will take off and you will be quite excited. Until then the market is ranging but price is either just above or just below the 240 line still giving you trades. So off we go.

Thank you for the comments Bob. For me I just keep the trades open - if it goes against me I put in pending limit orders - price must prove me wrong by breaking the 240 - it can happen - I figure I am due a losing week after 3 positive weeks (last week I closed my trades too early) - so what? 4 weeks is still not a long time to test something...

[rebyte2]

Closed all my EURAUD shorts(2 in profit and 1 at BE) as PA seems to have stalled long the WS1.

If you wish, see my reasoning and further tactics in the advanced thread.

cheers... Roscoe

[nanningbob]

Closed all my EURAUD shorts(2 in profit and 1 at BE) as PA seems to have stalled long the WS1.

If you wish, see my reasoning and further tactics in the advanced thread.

cheers... Roscoe

When the market is ranging closing at R1 and S1 is the thing to do. That is how I have stayed profitable during this range time.

[cmeade2]

Bob

Don't worry, I am well aware of the market issues, which have nothing to do with 10.4 or anything else. I was just making a comment. And I totally loved the pictures in your previous post.

Bob had a great post a while ago about watching paint dry.

I think we are there now.

Not commenting on your post so this is not personal.
So off we go.

[nanningbob]

chf/jpy set up

[mjws00]

I truly love watching a simple, safe system crush it. Guys a few percent a week. With very very little drawdown where you don't have to filter trades like crazy. Or watch the screen minute by minute. That is gold, pure gold. Gertje has been sitting at 2%ish on drawdown or less. That is ridiculously low and we are trading hyper safe. Even a wuss like me can tolerate that drawdown..

Seriously, if Bob, and Gerjte take another crazy number out this week. 80 trades to my 7. I will have to force myself to just close my eyes and place the pendings. Will be the first time I've ever considered just letting a bot place trades. If simple is beating your analysis. Fricken stop already and just punch in with the rules. It is a no-brainer.

Thanks Bob. You are a great educator. We love your ideas and spirit and thank you for sharing.

Mike