10.4 A Complete System

[cmeade2]

I'm not going to take the bait, but it seems that you have similar setups on a bunch of the yen pairs.

chf/jpy set up

[nanningbob]

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

Dang Mike you gave away my secret. I just set my trades and walk away. I dont try to overanalyze. Remember my monthly charts in my book. How many times does price hit that 240 line every year? Those are your odds of success.

[nanningbob]

I'm not going to take the bait, but it seems that you have similar setups on a bunch of the yen pairs.

chf/jpy set up

The JPY has been weakening so I am taking notice. GBP cant be weak every week. Watch the gbp/jpy if gbp stays north of the 240 line then the JPY possibly will take over the weak spot and they will be great sell trades.

[etheldreda]

Dang Mike you gave away my secret. I just set my trades and walk away. I dont try to overanalyze. Remember my monthly charts in my book. How many times does price hit that 240 line every year? Those are your odds of success.

Hi Bob,

do you consider using AO color change for exit when your open position is still in negative or only use it to close already profit position?

regards,
-ethe-

[Ashflash]

chf/jpy set up

Hi Bob

Kudos to you for putting together and presenting a killer trading strategy!

Just a quick question relevant to your last posted trade setup though, why did you choose this pair over another?

I have almost identical potential setups on E/J, G/J, N/J, C/J, A/J and U/J... but when i look at my slopestrength indicator USD is the strongest of the lot and CHF is the weakest so if i had to choose a pair to get long on i would have probably looked to the U/J.

FYI - I am Cowboy IBFX AU

Any insight as always is greatly appreciated.

Thanks again.

Ash

[nanningbob]

If you go look at the 10.4 info screen the bottom two are gbp and chf. gbp has passed the jpy north and chf/jpy is north of the 240 line. So go with the flow JPY back down to the bottom.

[nanningbob]

chf/jpy set up

Hi Bob

Kudos to you for putting together and presenting a killer trading strategy!

Just a quick question relevant to your last posted trade setup though, why did you choose this pair over another?

I have almost identical potential setups on E/J, G/J, N/J, C/J, A/J and U/J... but when i look at my slopestrength indicator USD is the strongest of the lot and CHF is the weakest so if i had to choose a pair to get long on i would have probably looked to the U/J.

FYI - I am Cowboy IBFX AU

Any insight as always is greatly appreciated.

Thanks again.

Ash

see note above

[trueblueTEX]

....... I am up over 1% of my account so far this week....

THIS IS THE 3RD TIME I've tried to reply to this.....

OK, Bob, I've done about the same this week. This is 3 weeks in a row that I've been in profit.


That has never happened before.

Thanks for the method, and for a great thread.
TEX

[nanningbob]

Dang Mike you gave away my secret. I just set my trades and walk away. I dont try to overanalyze. Remember my monthly charts in my book. How many times does price hit that 240 line every year? Those are your odds of success.

Hi Bob,

do you consider using AO color change for exit when your open position is still in negative or only use it to close already profit position?

regards,
-ethe-

I very seldom use AO. The one big use I use it for is if it is north of the 0 line and price is south of 240 that shows a big potential move. AO is a very slow late indi but it gives warnings, if you are in a trade and havent closed your profit yet and it changes color that is a warning to close the trade. I close trades when they hit S/R or even mid 1 in range and S/R and mid 2 in trends. I close trades and I have said this many many times:
2-3 hours into jpy session
mid way euro and usd sessions
between usd and jpy sessions.
Those are the times price will usually hit its peak moves for the day.

I dont think I have closed one single trade waiting for it the AO to change color. Yes I may occasionally lose some pips but the name of the game is pocketing profit.

[nanningbob]

....... I am up over 1% of my account so far this week....

THIS IS THE 3RD TIME I've tried to reply to this.....

OK, Bob, I've done about the same this week. This is 3 weeks in a row that I've been in profit.


That has never happened before.

Thanks for the method, and for a great thread.
TEX

Consistancy and avoiding playing poker in Forex like going all in and you end up the month/year a winner. If you are between 10-30% a year you are with the best hedge fund managers. You do that in a month, you are one of the best traders in the world.

As you know Soros is an all in kind of guy but it is like playing poker and seeing into the other person's hand. Everyone knows the new govt. in Japan wants to weaken its currency. It actually hasnt passed any laws or bills yet nor does it have the person they want running the bank. You watch what happens when they do. You will see some people go all in on that one. I think we are seeing people starting early like they did last November again. So the 240 is telling me a story and I dont need to see the news reports.