10.4 A Complete System

[Gertje]

On the CADJPY the pivot-lines are very close together, there are +/- 38 pips between S1 and MS1.

When opening both trades, it's only 19 pips back to BE [with a 10pip spread], making it a high probablilty that it will close @ BE.

Bob, what would you do in such case?
I first entered the pending at MS1 but later deleted it and set the 2nd pending at the WP giving it some more room after triggering the 2nd trade.

[mjws00]

First stop of the week. Money management is strict 2% on a 5K account. Entries by the EA which uses the stoch model. It took a very large position as we are so close to 240. This is not really that cool. But I am flowing with it for now.

Hi, what I do when price is close to the 240 line is to put my S/L at a mid-level support or resistance line that is beyond the 240ma. This helps me to avoid ranging markets until price action decides where it wants to go. I don't do this blindly but when I feel that price will dip below/above momentarily have a S/L at the the next level helps to avoid losses...

Yep. A lot of advantages to using a little discretion. Even just skipping a larger range around the 240 may be enough to keep a more mechanical entry and SL safe. I've been taking profits on the weak trades, so DD is under 0.5% which is acceptable considering the completely non-optimized entries. If we start to trend... it will crush.

I am following in your footsteps Gerjte.

[TraderDesk]

OK here is a 10.5 test version. Use this when markets are slow and you want the 20-50 pip hit off of the 1H chart. The rules are simple when you see a signal on the 4H chart go to the 1H and trade in that direction using daily P/S/R and DMS/DMP lines. Lower your lot sizes some, place your SL below the last low/high or P/R/S/MR/MS line. Add some extra levels for 1 or 2 levels and take profit 2 or three levels later. US a trailing stop or Steve's MPTM or Jump EA and keep those small profits.

I like this addition to the 10.4 and will be trying it out. I am by heart a intraday trader and the more action I see the happier I am

Has anyone added an alert function when the buy/sell parameters are met? Like the 10.4 YAD dashboard but for 10.5?

Thanks...

[grimweasel]

Gold and Silver - that is where most people will head Bob as banks can't confiscate what they don't hold. I have a mate here in the UK who has been geocaching gold coins around the South of the UK. He's ex Goldmans, and he thinks we are heading for mass anarchy etc!!

Aud is still a risk-on currency and a direct play on China. If Europe pops then the whole global economy goes with it and we start the next leg down on the secular bear market. USD and Yen along with gold usually rise, and of course US Trys or Bunds.

[nanningbob]

Gold and Silver - that is where most people will head Bob as banks can't confiscate what they don't hold. I have a mate here in the UK who has been geocaching gold coins around the South of the UK. He's ex Goldmans, and he thinks we are heading for mass anarchy etc!!

Aud is still a risk-on currency and a direct play on China. If Europe pops then the whole global economy goes with it and we start the next leg down on the secular bear market. USD and Yen along with gold usually rise, and of course US Trys or Bunds.

I am not there yet, I think there is still time before the breaking point. China is plugging along, their leadership is all in on keeping the miracle economy going. From what I have seen living here, instead of food stamps, unemployment and other govt. goodies you can start any business you want without a license and they will look the other way until the economy gets better thereby keeping the economy going. Try setting up a street business in the USA sometime, we rather have govt. programs and borrow our way out of trouble. So everyone stays employed doing something. 10 years there were street merchants everywhere. 4 years ago they were only in alleys and back streets, now they are common again. They used to spread a sheet on the ground so they could pick up and run when inspectors were in the neighborhood. Now they set up anywhere they want. So I will watch the lines and stay with the 2 lowest and 2 highest and trade away for a while.

[Gertje]

So I will watch the lines and stay with the 2 lowest and 2 highest and trade away for a while.

You're saying you're able to limit yourself to 4 crosses?????

[garyfritz]

Gold and Silver - that is where most people will head Bob as banks can't confiscate what they don't hold.

Banks maybe not, but the govt sure can, and has. See e.g. http://en.wikipedia.org/wiki/Executive_Order_6102

[monty]

Does anyone trade with Alpari ?
As a total newbie I was wondering why I was having so much trouble, then realized...when Global Primes charts hit a Pivot Resistance Or Support level Alpari showes it as only half way there.
I an halfway through opening an account with global, does anyone else trade with Alpari?

I've been with Alpari uk for a while now. Not happy at all.

I'm just trading micro acc with them,till I'll find a better one.

But Alpari's charts are on +2 gmt and g-prime are on gmt,anf diffrent feeds as well.

[Rossobonks]

Anyone got in the GBPJPY from the WP? Flat RSI, above 240MA so a goer for me!

[Jhosuar]

Thanks Monty
Just as an example
Global Prime AUDCAD WMR (9.0 pips)
Alpari AUDCAD WMR (18.0 pips)
This must mean than none of the fantastic EA's or Indicators from this fantastic forum will work correctly
Even 10.4 v5 will be giving wrong entry and exit info grrrrr...Time to change