10.4 A Complete System

[cjthomson]

OK today looks like Euro day with lots of euro set ups. here is my eur/cad set up. Sell at break of WP and WMR1 and also I set one at the DP line. So 3 entrances for a rally in the DT coming up.

Big difference in brokers, anyone else notice this much difference in the Weekly Pivot?

This is AxiTrader Australia, way below, no chance to SELL the WP as Bob has set his pending.

: : :

I think it is a difference in GMT, your candles open close at different time them mine. Although that does not necessarily explain the weekly pivots? Hmm I'm not sure?

I was also running an Axi Aus account and spotted the same discrepancies. The piv, sup and res lines were in very different places and were often very close to one another when they seemingly should have been more spread out. I have subsequently changed to Cowboy IBFX and now at least my charts look the same as the majority of people posting charts here.

[spillini]

Question for a veteran of this strat. On the N/U chart below, even though the price has gone above the 240, can you still put a pender below the Weekly R1 since it is below the 240, or is this pushing it.

Thanks, Jim

[huhpapa]

My trading days is stress free. I wake up at 6 am, jpy sessions starts at 8am so I can set up my daily trades. At 10am my kids go out to recess and I can close any profit trades 2-3 hours in. School closes at 3：30 but I have a 15M break at 2 so I can set up my euro trades. I get home from school between 5-6 or halfway through the euro session and take my profits and set up my USD session trades. I go out or spend the evening with my wife and go to bed around 11 or Euro close and close my profit trades. I go to bed and wake upbetween sessions and close my profit trades and set up for my next day. 4H are perfect for those who work. So plug your daily for those it fits. I will trade the 4H and pick up those 20-50 pip profits that you wont see on a daily chart in tight markets and still catch the trends you see on the daily.

Bob, I posted a note a few days back asking about daily routine. I find it really useful knowing how someone applies a system as having details for a system is one thing but doing it at the wrong time of the trading day may prove futile. This post you've made really clears a big question up for me - thanks.

Little by little I feel I'm understanding but I have admittedly taken a scatter gun approach to setting pendings rather than being more astute about focussing on certain currencies at certain times (this is what you're saying right?). All said, I'm sitting on 8% for the last 3 weeks after being caught by the Mon gap which cost me 4 % (of which I've managed to get 2% back).

I was previously trading a daily pivot system which I eventually lost faith in after a few losing months. The system was a strict rules based system which I applied in a very mechanical fashion and in so doing resulted in repeated SL hits. This led me to 10.2, 10.3 and more recently 10.4 which has really caught my attention. Thank you.

Totally agreed with cjthomson, Bob !!! your 10.4 and 5 totally re-gain my confidence in trading forex, just scanning the charts and setting pending order as per your guidance with what I see on the charts, had just provided me with this kind of results:


and now knowing how you schedule around this system gives me even a clearer understanding as to how to go about it.
Thank you very much ... now I can make a come back to regain all my busted accounts and years of chart watching.

[nanningbob]

Question for a veteran of this strat. On the N/U chart below, even though the price has gone above the 240, can you still put a pender below the Weekly R1 since it is below the 240, or is this pushing it.

Thanks, Jim

It is not common for nzd to be outside r/s 1 . However spikes will almost always retrace at some point. I am tempted but have lost power at my house so using phone internet

[Gertje]

Gertje,

I might be wrong, but the CSS is repainting I have been informed.

Try put it on ie. a 5 min chart and mark all the crosses with a static vertical line (when they happen in real time) and look the day after, the crosses has moved...

Just my 2 c

PC

OFF 10.4 TOPIC

One hour later, the crossed haven't moved yet.

What I DID notice on the M5, is that open/ close on the cross would have delivered 119 pips [excl. spread] in the last 24 hours on EURUSD. 8 crosses occured, so no huge volume trading-tart.

Interesting.....

[Wiggy1965]

Question for a veteran of this strat. On the N/U chart below, even though the price has gone above the 240, can you still put a pender below the Weekly R1 since it is below the 240, or is this pushing it.

Thanks, Jim

Jim, that one is interesting....

This has peeker trade written all over it....As soon as you enter under WR1, it goes long....

Me, i would want to see it continue short, so i would not be in before WP...I know i know, a long way away....But if you look at on the daily, it has been going short the last three weeks, with today large candle....But interesting the overall trend over the last couple of months is long....So, for me i would and to see it back into the trend below the WP...

It's probably not what you wanted to hear....

Wiggy

[nanningbob]

Gertje,

I might be wrong, but the CSS is repainting I have been informed.

Try put it on ie. a 5 min chart and mark all the crosses with a static vertical line and look the day after, the crosses has moved...

Just my 2 c

PC

Thanks for the info, I'll do what you suggested.
Report back tomorrow.

Gertjan

back to this issue again. It uses daily chart so by the time you notice a change weeks have passed. Been through this before . Do you realize MACD repaints? It is not an issue because it is accurate at the time of the trade. Right now it is telling us joy is weak and that is accurate. It is also telling us currencies are ranging tightly and that is accurate. I don't give a rip what it is showing us two weeks ago. The now is accurate and that is what counts.

[mjws00]

Nice night last night. Looks like I missed a few beauties. EURNZD looks like 250 pips + stacks with no retraces. Hope some of you got it. Yen pairs only a cute little high R:R on EURJPY at the pivot barely below 240. (Creatives could have it WMR1 short). GBP looks like chop. There were a few crosses back to the 240 as well, not sure any were valid setups first. My faithful bot needed a little more love, so didn't let it run unmonitored.

Similar to Bob, I have been taking chunks instead of runners. Haven't looked at 10.5, but am combining 10.4 for spotting setups (both directions) with PA from CJ's thread for very nice results.

CSS is a very heavy indi but mostly on load times. I have tons of computer horsepower, and literally had it running on its own instance of Empty4 when using it. It doen't repaint if ignoreFuture is on, and actually works nicely on lower timeframes as well. It shows expansion and contraction, but I had a tough time using it to predict active pairs to trade on 4H and lower TF. It has some neat properties when used on single pairs as well.

A little bit different week this week, the only real adjustment needed was towards a slightly more active style. Just TP when it's there instead of looking for runners. As we see more of these, we will adapt. I believe the more selective traders may have had it easier as well.

Green pips ya'll. It is early days, each week won't be 10% gains just hitting every setup.

Mike

[Wiggy1965]

Question for a veteran of this strat. On the N/U chart below, even though the price has gone above the 240, can you still put a pender below the Weekly R1 since it is below the 240, or is this pushing it.

Thanks, Jim

Jim, that one is interesting....

This has peeker trade written all over it....As soon as you enter under WR1, it goes long....

Me, i would want to see it continue short, so i would not be in before WP...I know i know, a long way away....But if you look at on the daily, it has been going short the last three weeks, with today large candle....But interesting the overall trend over the last couple of months is long....So, for me i would and to see it back into the trend below the WP...

It's probably not what you wanted to hear....

Wiggy

Further to this, i had a quick look at the CurrencySlopeStregth indi on a daily chart for this pair and it shows the two lines about to cross, so this may indicate a change of direction....

[spillini]

No, No, its fine. Just a learning question here. I am sure with the Euro's retracing today there will be some re-entry signals back short. I pulled all my trades E/J, E/U and E/Cad all in profit and playing the waiting game. Only trade I am in is AUD/NZD bounce off the Weekly Mid pivot when I got the RSI signal.

Jim

Question for a veteran of this strat. On the N/U chart below, even though the price has gone above the 240, can you still put a pender below the Weekly R1 since it is below the 240, or is this pushing it.

Thanks, Jim

Jim, that one is interesting....

This has peeker trade written all over it....As soon as you enter under WR1, it goes long....

Me, i would want to see it continue short, so i would not be in before WP...I know i know, a long way away....But if you look at on the daily, it has been going short the last three weeks, with today large candle....But interesting the overall trend over the last couple of months is long....So, for me i would and to see it back into the trend below the WP...

It's probably not what you wanted to hear....

Wiggy