10.4 A Complete System

[Gertje]

Right.

I have a pending since yesterday at the MS1.
With my broker the spread for GBPCAD is 12 pips, so I need to be at least 12 pips above the WP to enter the pending. Hasn't happened yet today.

Hey, I want to beat Bob for the 1000pip week......

So you would not have taken the trade at the first hit of the WP. As you say, you are looking for it on the way down. Right?

You mean only if you enter an order to sell at the WP?

Short GbpCad at the WP?

Only as a stop-order, not as a limit- or market- order.
Learned that the hard-way.....

Only if price moves way above, so I can enter a pending to fill on the way down.

I have been to 'triggerhappy' in the past, and was affraid to miss the entry so made a market- or limit order to make sure I was part of the move. Several times the price kept running against me, or went nowhere.

[cmeade2]

Are you close?

Hey, I want to beat Bob for the 1000pip week......

So you would not have taken the trade at the first hit of the WP. As you say, you are looking for it on the way down. Right?

You mean only if you enter an order to sell at the WP?

Short GbpCad at the WP?

Only as a stop-order, not as a limit- or market- order.
Learned that the hard-way.....

Only if price moves way above, so I can enter a pending to fill on the way down.

I have been to 'triggerhappy' in the past, and was affraid to miss the entry so made a market- or limit order to make sure I was part of the move. Several times the price kept running against me, or went nowhere.

[Gertje]

Gertje, i am still scratching my head (since yesterday) no good...... opens are all red. EG hit SL.

I have had the TP on Tuesday for 1 level with EURGBP, set pendings from WP to R1 but no more entry's yet.

RSI is down, so move is about to come...........or maybe not.

[Gertje]

831.1 pips / 10.54% this week till now.

Floating BE at the moment with 16 pairs running open orders from 1-3 levels.

Are you close?

Hey, I want to beat Bob for the 1000pip week......

So you would not have taken the trade at the first hit of the WP. As you say, you are looking for it on the way down. Right?

You mean only if you enter an order to sell at the WP?

Short GbpCad at the WP?

Only as a stop-order, not as a limit- or market- order.
Learned that the hard-way.....

Only if price moves way above, so I can enter a pending to fill on the way down.

I have been to 'triggerhappy' in the past, and was affraid to miss the entry so made a market- or limit order to make sure I was part of the move. Several times the price kept running against me, or went nowhere.

[cmeade2]

Congrats!!

831.1 pips / 10.54% this week till now.

Floating BE at the moment with 16 pairs running open orders from 1-3 levels.

Are you close?

Hey, I want to beat Bob for the 1000pip week......

So you would not have taken the trade at the first hit of the WP. As you say, you are looking for it on the way down. Right?

You mean only if you enter an order to sell at the WP?

Short GbpCad at the WP?

Only as a stop-order, not as a limit- or market- order.
Learned that the hard-way.....

Only if price moves way above, so I can enter a pending to fill on the way down.

I have been to 'triggerhappy' in the past, and was affraid to miss the entry so made a market- or limit order to make sure I was part of the move. Several times the price kept running against me, or went nowhere.

[Wiggy1965]

Short GbpCad at the WP?

That trade does no make sense and I'm pretty sure it's not a 10.4 trade...

The signal was yesterday and when you get the signal, you look for entries below, in the case of a short and above in the case of a long.....the pending should have been at the mid pivot or below around the .5295 level...

Wiggy

[cmeade2]

I agree that it is not by the "rules" since the RSI(2) is not flat. But it is quite high and I noted from Bob's trades last week that he entered situations like this.

Short GbpCad at the WP?

That trade does no make sense and I'm pretty sure it's not a 10.4 trade...

The signal was yesterday and when you get the signal, you look for entries below, in the case of a short and above in the case of a long.....the pending should have been at the mid pivot or below around the .5295 level...

Wiggy

[cmeade2]

On the other hand, GbpNzd at the WR1 looks like a "by the rules" short

[padnoter]

Short GbpCad at the WP?

That trade does no make sense and I'm pretty sure it's not a 10.4 trade...

The signal was yesterday and when you get the signal, you look for entries below, in the case of a short and above in the case of a long.....the pending should have been at the mid pivot or below around the .5295 level...

Wiggy

but if the current bar closes above WP, it's then a valid 10.4 trade to place an order @ just below WP isn't it?

[Gertje]

Just the WP-cross back into trend would do it for me.

I agree that it is not by the "rules" since the RSI(2) is not flat. But it is quite high and I noted from Bob's trades last week that he entered situations like this.

Short GbpCad at the WP?

That trade does no make sense and I'm pretty sure it's not a 10.4 trade...

The signal was yesterday and when you get the signal, you look for entries below, in the case of a short and above in the case of a long.....the pending should have been at the mid pivot or below around the .5295 level...

Wiggy