10.4 A Complete System

[Wiggy1965]

I have got two entrys opened

1st level @ 0.92362
2nd level @ 0.92854

closed at SL/BE @ 92.600 (92.570 with slippage)

That's why my trade were closed at BE (to be honest with small lost because of 3 pips SLIP).

Ok, not much wrong there...I would not complain about a BE trade

The only thing is the way you are choosing to manage your trades once in them...

If you are choosing to use the breakeven indi to set your stops loss to BE once into you second position, then this is going to happen more often than not, so over time it would be unclear if this is better for you....

What i mean by this, is you may Break Even on more trades than you need to, then throw in a couple of stop outs and and some winners and you may very well be in draw down....Did you do any back testing of this trade management before you started using it....If not, i would go back a couple of months over a couple of pairs and test it to determine if it is going to work in the long run....

People manage there risk a number of ways, but if you feel the need to manage the 10.4 this tightly, then your positions are two large....reduce both positions if you want to trade multiple positons, or only trade one...the absolute best way to manage risk, is smaller positions...!

I think (and please back test this) it would be better for you to do one of two things....I do a combination of these, still cant work out which works best for me....

1...You could, set your first trade to BE, once it get to second position, then trail by the same number of pips between the first enter and the second entry position, then once you get the third position you could take profit or then use you BE indi and let the trades ride...this should at least give you something...

2...If you like the BE indi, only add trades to every other level, so once you have you first trade running only add a position at the third level, this way the BE point is a long way from the second trade and allows both trades to breath.....The beauty of this method, is you don't get the level three much, so you wont need to use it often and more of your single stage trade (which are the majority) will hit TP and make something....

The other thing you could do is add 5 to 10 pips to the BE indi calculation, so if you want to keep using this method, you will at least make something on your two position trades that close at BE....

Did i mention smaller position sizes...

Regards
Wiggy

[rebyte2]

nzdchf pending triggered long

SL at MA

I don't see this trade...

Wiggy

I can see why an entry triggered. A lot of 4H support at this level and a continuation of the trend. Bouncing away from the 240 and crossing over WP line.

I can see RSI 2 was not in the correct position, so possibly a more 'advanced' entry then a pure 10.4 entry.

Keep an eye on resistance up the top there.

Good luck with it.

Roscoe

That 4H pinbar forming on EURJPY needs to be respected at the completion of this last hour.

[Wiggy1965]

nzdchf pending triggered long

SL at MA

I don't see this trade...

Wiggy

I can see why an entry triggered. A lot of 4H support at this level and a continuation of the trend. Bouncing away from the 240 and crossing over WP line.

I can see RSI 2 was not in the correct position, so possibly a more 'advanced' entry then a pure 10.4 entry.

Keep an eye on resistance up the top there.



Good luck with it.

Roscoe

That 4H pinbar forming on EURJPY needs to be respected at the completion of this last hour.

you must be on a GMT broker, as for GMT +2 we do not have this and out candle has 1:43 minutes to go...

That must mean you candle is only 20 minutes old...

There may also be some stuff going on with day light saving as some brokers are change at differnt times...

Wiggy

Wiggy

[mjws00]

With help from Andy's bot I have joined the 10.4 Shotgun Train. I will manage the hell out of these and see how it works out.

Will also be fun to see how many times my live account is on the other side of these trades. I am most comfortable fading the masses.

NZDCHF is the first PEAKER I would have skipped. I promise some pretty pictures will come of it. Plus we'll see just how well the STO template fares. Lock and Load boys. I will take profits aggressively. May take the odd early or BE Stop, but these will ride wide and light as 10.4 intends.

I can't wait.

Mike

[sponn]

Ok, not much wrong there...I would not complain about a BE trade

The only thing is the way you are choosing to manage your trades once in them...

If you are choosing to use the breakeven indi to set your stops loss to BE once into you second position, then this is going to happen more often than not, so over time it would be unclear if this is better for you....

What i mean by this, is you may Break Even on more trades than you need to, then throw in a couple of stop outs and and some winners and you may very well be in draw down....Did you do any back testing of this trade management before you started using it....If not, i would go back a couple of months over a couple of pairs and test it to determine if it is going to work in the long run....

People manage there risk a number of ways, but if you feel the need to manage the 10.4 this tightly, then your positions are two large....reduce both positions if you want to trade multiple positons, or only trade one...the absolute best way to manage risk, is smaller positions...!

I think (and please back test this) it would be better for you to do one of two things....I do a combination of these, still cant work out which works best for me....

1...You could, set your first trade to BE, once it get to second position, then trail by the same number of pips between the first enter and the second entry position, then once you get the third position you could take profit or then use you BE indi and let the trades ride...this should at least give you something...

2...If you like the BE indi, only add trades to every other level, so once you have you first trade running only add a position at the third level, this way the BE point is a long way from the second trade and allows both trades to breath.....The beauty of this method, is you don't get the level three much, so you wont need to use it often and more of your single stage trade (which are the majority) will hit TP and make something....

The other thing you could do is add 5 to 10 pips to the BE indi calculation, so if you want to keep using this method, you will at least make something on your two position trades that close at BE....

Did i mention smaller position sizes...

Regards
Wiggy

Yeah trade was good... sl taken according to Bob rules.

I have already asked this question... Looks like MA240 is very powerfull so it is problably better to wait for full TP or SL than use BE function. I have got around 15 baskets since start. Only one hit SL... but other 10 hit BE (if I wait 9 of them will hit full tp and only one sl). So meybe it's smarter to use your method. I believe that you have done some bt.. right ?

[Gertje]

I'm having fun with this....

Attached my Infopage with the COOL earnings-indi and my open-/ pendingorders like some requested.

Up nearly 9% this week, with only 1 SL and a stupid mistake costing me $3,- [150pips].

[Wiggy1965]

Ok, not much wrong there...I would not complain about a BE trade

The only thing is the way you are choosing to manage your trades once in them...

If you are choosing to use the breakeven indi to set your stops loss to BE once into you second position, then this is going to happen more often than not, so over time it would be unclear if this is better for you....

What i mean by this, is you may Break Even on more trades than you need to, then throw in a couple of stop outs and and some winners and you may very well be in draw down....Did you do any back testing of this trade management before you started using it....If not, i would go back a couple of months over a couple of pairs and test it to determine if it is going to work in the long run....

People manage there risk a number of ways, but if you feel the need to manage the 10.4 this tightly, then your positions are two large....reduce both positions if you want to trade multiple positons, or only trade one...the absolute best way to manage risk, is smaller positions...!

I think (and please back test this) it would be better for you to do one of two things....I do a combination of these, still cant work out which works best for me....

1...You could, set your first trade to BE, once it get to second position, then trail by the same number of pips between the first enter and the second entry position, then once you get the third position you could take profit or then use you BE indi and let the trades ride...this should at least give you something...

2...If you like the BE indi, only add trades to every other level, so once you have you first trade running only add a position at the third level, this way the BE point is a long way from the second trade and allows both trades to breath.....The beauty of this method, is you don't get the level three much, so you wont need to use it often and more of your single stage trade (which are the majority) will hit TP and make something....

The other thing you could do is add 5 to 10 pips to the BE indi calculation, so if you want to keep using this method, you will at least make something on your two position trades that close at BE....

Did i mention smaller position sizes...

Regards
Wiggy

Yeah trade was good... sl taken according to Bob rules.

I have already asked this question... Looks like MA240 is very powerfull so it is problably better to wait for full TP or SL than use BE function. I have got around 15 baskets since start. Only one hit SL... but other 10 hit BE (if I wait 9 of them will hit full tp and only one sl). So meybe it's smarter to use your method. I believe that you have done some bt.. right ?

back testing..?

[Gertje]

.....................I think (and please back test this) it would be better for you to do one of two things....I do a combination of these, still cant work out which works best for me....

1...You could, set your first trade to BE, once it get to second position, then trail by the same number of pips between the first enter and the second entry position, then once you get the third position you could take profit or then use you BE indi and let the trades ride...this should at least give you something...

2...If you like the BE indi, only add trades to every other level, so once you have you first trade running only add a position at the third level, this way the BE point is a long way from the second trade and allows both trades to breath.....The beauty of this method, is you don't get the level three much, so you wont need to use it often and more of your single stage trade (which are the majority) will hit TP and make something....

The other thing you could do is add 5 to 10 pips to the BE indi calculation, so if you want to keep using this method, you will at least make something on your two position trades that close at BE....

Did i mention smaller position sizes...

Regards
Wiggy

Yeah trade was good... sl taken according to Bob rules.

I have already asked this question... Looks like MA240 is very powerfull so it is problably better to wait for full TP or SL than use BE function. I have got around 15 baskets since start. Only one hit SL... but other 10 hit BE (if I wait 9 of them will hit full tp and only one sl). So meybe it's smarter to use your method. I believe that you have done some bt.. right ?

What I have done, since;
1. I believe firmly in the strenght of the 240ma,
2. I'm willing to put 2% risk initially on the trade, therefore trusting it will TP,
Is modifying the BE in the way that after the 2nd, 3th, etc. trade, the BE-point is such that there is still 2% loss when hitting "BE".

I did this by changing the entry "AddPipstoBE" to a negative number like '-100' or '-50' so the ITM takes this number off of the BE-point.

Doing this, the trades get more room to breathe, and have more time to hit TP.

[eevra]

Gertje: Qn from a novice- Seems you are running Long's EA and the ITM EA , how did you make it possble, - two different charts ? Thx in advance for your response !

[Gertje]

Gertje: Qn from a novice- Seems you are running Long's EA and the ITM EA , how did you make it possble, - two different charts ? Thx in advance for your response !

Hi,

I'm not running Long's EA, all is done manually.
If I would run Long's, then it would go on ONE separate chart.