10.4 A Complete System

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Nipponho
Trader
Posts: 107
Joined: Sat Mar 31, 2012 3:37 pm

Re: 10.4 A Complete System

Post by Nipponho »

This is my second week with 10.4. Very tough, this week, no good no good :roll: :roll: . Fortunately I was on very small lots.

My chfjpy is not looking good now, so I closed off my both levels of my NU to lock in the profits to subsidise my chfjpy loss in case hits SL.

GBPChf looks like a good set up with small SL, but chf is sly and cunning, sometimes it will move just enough to trigger your entry before it goes the other way. It was fortunate USDChf was finally obedient after misbehaving for a few bars, but the misbehavior is enough to cause some anxiety.

Hey bob, so your guess is that newzie will continue its descend and the latest 2 bars of big spikes will only be temporary since they didn’t increase the rates? Just want a confirmation if I get what u are trying to say, because sometimes your expressions are too ‘fanciful’ and not easily understood :lol: . I think this assessment is important in deciding whether to honour SL for EN or to temporarily tolerate the DD. My 2 levels of EN was closed out at BE earlier. But as of now, EN looks beaufitul for a short entry with a small SL.
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nanningbob
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Posts: 4564
Joined: Sun Dec 04, 2011 1:23 pm

Re: 10.4 A Complete System

Post by nanningbob »

Nipponho wrote:This is my second week with 10.4. Very tough, this week, no good no good :roll: :roll: . Fortunately I was on very small lots.

My chfjpy is not looking good now, so I closed off my both levels of my NU to lock in the profits to subsidise my chfjpy loss in case hits SL.

GBPChf looks like a good set up with small SL, but chf is sly and cunning, sometimes it will move just enough to trigger your entry before it goes the other way. It was fortunate USDChf was finally obedient after misbehaving for a few bars, but the misbehavior is enough to cause some anxiety.

Hey bob, so your guess is that newzie will continue its descend and the latest 2 bars of big spikes will only be temporary since they didn’t increase the rates? Just want a confirmation if I get what u are trying to say, because sometimes your expressions are too ‘fanciful’ and not easily understood :lol: . I think this assessment is important in deciding whether to honour SL for EN or to temporarily tolerate the DD. My 2 levels of EN was closed out at BE earlier. But as of now, EN looks beaufitul for a short entry with a small SL.
The NZD has been on a UT sorry and so far I see nothing happening to change that direction. GBP has been on a long DT and this is a rally. The monthly gbp/nzd may have hit a double bottom so it is possible the gbp could rally but ...................... that is what the SL on the 240 line is for. Getting into choking DD when price turns into a new direction. I will take a recovery on this and if it doesnt work close out, take a loss and move on.
I trade http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3964,
I talk about my philosophy of trading here.
http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3627
"The key to converting something useful to others is simplicity. Complexity is the enemy to execution." Tony Robbins
sk29
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Posts: 21
Joined: Fri Dec 09, 2011 5:27 pm

Re: 10.4 A Complete System

Post by sk29 »

Hi Ethe,

First, thank you for the 1.02 dashboard modification that you made to candletiger's 1.01. Appreciate your sharing that!

I used the Stoch this week, but will be transitioning to the RSI template starting next week. I (personally) don't think either indicator reduces or adds to the edge in any significant way. They are both great at providing great entry alerts at different times but not necessariliy at the same time. I've found that Bob's system itself is the edge (i.e., just the 240MA and the Pivots). I tried visually backtesting by just using pendings and when price has to cross to DP in our favored direction (i.e., without the indis), and it still appeared to work.

MPTM has been key for me to prevent breakeven wipeouts after a big open profit trade. I also take profit every other level. Sometime I take partial profit and let the other part run with no risk.

I also use previous high / low swings to place pendings (as Bob has shown in some examples). This I do in addition to the DP and S/R pendings.

--SK--
etheldreda wrote:
sk29 wrote:Bob,

I remember you used to talk about your 1000 pip week and how you have been so close to that so many time and have also reached it many times. When I read that, I always thought that is something that will never happen to me. Just following the 10.4 rules with MPTM to manage my trades, I have pocketed 821 pips

THANK YOU SO MUCH! I HAVE NEVER EVER SEEN SO MANY PIPS EVEN BY ACCIDENT!
Hi Sk29,

do you use RSI or Stochastic template with your trading?

-ethe-
sk29
Trader
Posts: 21
Joined: Fri Dec 09, 2011 5:27 pm

Re: 10.4 A Complete System

Post by sk29 »

Hi, Chris.

I've attached the indicator you liked. Add it to a blank chart.

To answer your question about MPTM, yes, I use it to set SL, TP, BE and Trail. The reason I use it is because I have a very hectic day job sitting in meetings 12 hours a day and I dont ever get a chance to look at my screen other than for about an hour every night :)

--SK--

Chris wrote:
sk29 wrote:Bob,

I remember you used to talk about your 1000 pip week and how you have been so close to that so many time and have also reached it many times. When I read that, I always thought that is something that will never happen to me. Just following the 10.4 rules with MPTM to manage my trades, I have pocketed 821 pips

THANK YOU SO MUCH! I HAVE NEVER EVER SEEN SO MANY PIPS EVEN BY ACCIDENT!

Eternally your loyal follower and student! Pic attached.
Capture.JPG
nanningbob wrote:
chye wrote:this is my first post and the chart below is my first trade using 10.4
I get 100pips wowo...
many thanks to Bob and all guys' hard work
i close my trades because it's Asian trading time and 100pips is enough for me. :D
Good show, pocket the profit instead of waiting for it to hit your break even. The BE should only be hit because of a spike like the NZD did. I know one trader in the ask anything section talk about how he had a 300 pip winner and it went back to BE. What do you do???

TAKE THE PROFIT WHAT DO YOU THINK YOU ARE TRADING FOR
??????????????????????????????????????????????????????????????
Where did you get this summary indicator from?
That is cool.
And how do you use the MPTM to manage your trades? Just the trailing stop feature?
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Chris
Trader
Posts: 240
Joined: Fri Mar 01, 2013 4:00 am

Re: 10.4 A Complete System

Post by Chris »

Wiggy1965 wrote:
Chris wrote:What do you think of the CHFJPY Low risk trade with it being so close to the 240
Chis,

10.4 is kinda telling us it is there, but what entry are you looking at.....I know some people would have taken it at the WP as either a very aggressive 10.4 of a pivot bounce, however i have a pending just above the mid pivot and those couple of highs (101.521) and again above the Weekly Res1 (102.295)

The concern i have with this trade setup, is it is on a slight down trend on the daily chart and failed to make a real new high, so i have set my pending some distance from price and ask price to come to me.....If price gets below the Weekly Pivot, then i think all bets are off...

Wiggy
Very wise analysis , I guess I was entertaining a buy here since my stop would be close, maybe just below the 240, but I think I like your version better. All the JPY pairs are kind of giving the same signal.
Thanks for the advice :mrgreen:
Chris
Trader
Posts: 240
Joined: Fri Mar 01, 2013 4:00 am

Re: 10.4 A Complete System

Post by Chris »

sk29 wrote:Hi, Chris.

I've attached the indicator you liked. Add it to a blank chart.

To answer your question about MPTM, yes, I use it to set SL, TP, BE and Trail. The reason I use it is because I have a very hectic day job sitting in meetings 12 hours a day and I dont ever get a chance to look at my screen other than for about an hour every night :)

--SK--
Yes me too, we can't all be full time traders, not yet anyway, NB is going to help get us there though. :lol:
Thanks for the Indi.
analda3
Trader
Posts: 14
Joined: Wed May 16, 2012 10:51 am

Re: 10.4 A Complete System

Post by analda3 »

Foreverforex wrote:getting same errors and bogging down my Empty4. Where is this "ShowInfo" you mention, don't see it in the indicator properties dialogue box/tabs.

TIA,

FF
This error is generated by the NT TMATrue SlopeHisto MTF indicator used with the RSI2 setup. You need to display the list of indicators by pressing CTL+I, select the NT TMATrue indicator by left clicking on it then click on the Edit button on the right top corner and then scroll down in inputs tab until you find the showinfo and change its value to "false".

Pict1.png
Regards,

JLC
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Foreverforex
Trader
Posts: 164
Joined: Wed Nov 28, 2012 6:48 am

Re: 10.4 A Complete System

Post by Foreverforex »

Thanks for detailed response JLC, my TMA indi is different name and doesn't have that parameter; going to re-download latest updates and confirm my setup. Thanks!
Chris
Trader
Posts: 240
Joined: Fri Mar 01, 2013 4:00 am

Re: 10.4 A Complete System

Post by Chris »

Thanks, It helped me, I didn't even know it had an error until I saw the post. But it fixed it.
Thanks JLC
etheldreda
Trader
Posts: 58
Joined: Wed Jan 23, 2013 11:37 pm

Re: 10.4 A Complete System

Post by etheldreda »

sk29 wrote:Hi Ethe,

First, thank you for the 1.02 dashboard modification that you made to candletiger's 1.01. Appreciate your sharing that!

I used the Stoch this week, but will be transitioning to the RSI template starting next week. I (personally) don't think either indicator reduces or adds to the edge in any significant way. They are both great at providing great entry alerts at different times but not necessariliy at the same time. I've found that Bob's system itself is the edge (i.e., just the 240MA and the Pivots).
Hi SK,
glad to be able to make something useful for others (and in this case actually for myself also)...
I really like your point of view while sometimes people discuss about different setup using either RSI/Sto, different broker server time, etc but I recon you have your faith in the main concept of this system.

Thank you for sharing your opinion.
-ethe-
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