10.4 A Complete System

[nanningbob]

Bob,

GBPUSD - when price moved up to the 240 yesterday I stuck in a pending to go short. It spike down and got me in the very next candle. Since then its hovered with a bunch of inside bars with me staring at DD. Looking at the probabilities on this position it still looks valid (CSS aside) i.e. if I wasn't already in I'd prob put a pending in. The only concern is that I now have the daily Piv between current price and my b/e. GBP on the CSS is at spot #2 suggesting I'm on a loser.

Its in these situations when I am unsure on whether to cut losses and exit or to hold and let it play out. So, WWBD (What Would Bob Do?)

[I see your last couple of posts talk about possible GBP strength so I assume the answer to WWBD is: Bob wouldn't be in this trade!]

It will either bounce or go up. I am playing the bounce because I dont think gbp is strong right now and the euro is weakening and will take the other euro currencies with it. One of the things I want to do it color code the CSS so the euro currencies are different shades of the same color, Asian are a different shade and the rest are a different shade. This way we can see a correlation if there is one and if they are not correlating what do they do as a group. Another way I may look at them is put the commodity currencies as a color group. This way we can spot and see trends in this business no one else will be seeing.

I mean you can already see how I am using CSS to determine my TP and trade selections. I am seeing aud, nzd, and cad all moving up. How consistant is that? If we see Aud going up first and see Nzd and cad always following, do you realize what a trading advantage that is? AUD is moving up get your NZD and CAD trades ready. AUD is moving down get your NZD CAD sells ready. The more I study this CSS the more excited I am getting. It is doing what I taught the slope would do in 10.2 but a lot of people didnt get it because they got all hung up on the stupid ＩＴ ＲＥＰＡＩＮＴＳ　issue. They never saw what it was good for. They had brain freeze. Guys are finding out they have used indicators for decades and now are discovering that depending on your broker these lines can be in different places all over the world. WOW, sooner or later you will get it about indis. The best you will ever get out of them is momentum and a place to best guess your entrance. Guys keep telling me to find the best setups. Well the best setup on your chart maybe a nothing on mine. There just is no such thing. You spot momentum and go.

TJ has one of the simplest methods to trade PIN bars, forget all the rest. He has gotten dozens of guys going fox hunting. I love it. Wish I knew that when I CT traded all the time. It is true that most professional traders use one or two indis and that is it. Something that makes an angle and something that makes a horizontal line. In a nutshell that is my system. 240 is my angle line P/S/R are my horizontal lines. I go trade off the dips/rallies. The RSI 2 helps me filter. I then go trade.

[etheldreda]

USD/JPY signal is good on 4H chart went to 1H to set my pendings. Already entered. Notice the double bottom on the 1H chart and TJ rules apply also. I like my bull meat burgers with mushrooms and fried onions cooked in butter. MMMMMMMMMMMMMMM

Bob,

do you place order using H1 because this week was kind of range-week (identified from the CSS), or for the 10.5 this will be the procedures?

thank you,
-ethe-

[nanningbob]

USD/JPY signal is good on 4H chart went to 1H to set my pendings. Already entered. Notice the double bottom on the 1H chart and TJ rules apply also. I like my bull meat burgers with mushrooms and fried onions cooked in butter. MMMMMMMMMMMMMMM

going to be some nice DD

DD??? cant have DD unless you are in a trade. Cant get into the trade until if reverses and goes back up. Fear keeps you from trading, fear ruins a trader. I have no fear of the forex market. None. It is very predictable. This is always 100% true of Forex no matter what Time Frame you choose to trade. What goes up must come down and what goes down must come up. That my friends is a 100% fact that happens on a 1M chart all the way to the monthly. Just learn to get in.

[nanningbob]

USD/JPY signal is good on 4H chart went to 1H to set my pendings. Already entered. Notice the double bottom on the 1H chart and TJ rules apply also. I like my bull meat burgers with mushrooms and fried onions cooked in butter. MMMMMMMMMMMMMMM

Bob,

do you place order using H1 because this week was kind of range-week (identified from the CSS), or for the 10.5 this will be the procedures?

thank you,
-ethe-

its a currency by currency decision.

[Guest]

USD/JPY signal is good on 4H chart went to 1H to set my pendings. Already entered. Notice the double bottom on the 1H chart and TJ rules apply also. I like my bull meat burgers with mushrooms and fried onions cooked in butter. MMMMMMMMMMMMMMM

going to be some nice DD

DD??? cant have DD unless you are in a trade. .

so you aren't in that trade ? you said your pending was triggered.


must be nice not to have to worry about capital

[TraderDesk]

Bob,

GBPUSD - when price moved up to the 240 yesterday I stuck in a pending to go short. It spike down and got me in the very next candle. Since then its hovered with a bunch of inside bars with me staring at DD. Looking at the probabilities on this position it still looks valid (CSS aside) i.e. if I wasn't already in I'd prob put a pending in. The only concern is that I now have the daily Piv between current price and my b/e. GBP on the CSS is at spot #2 suggesting I'm on a loser.

Its in these situations when I am unsure on whether to cut losses and exit or to hold and let it play out. So, WWBD (What Would Bob Do?)

[I see your last couple of posts talk about possible GBP strength so I assume the answer to WWBD is: Bob wouldn't be in this trade!]

It will either bounce or go up. I am playing the bounce because I dont think gbp is strong right now and the euro is weakening and will take the other euro currencies with it. One of the things I want to do it color code the CSS so the euro currencies are different shades of the same color, Asian are a different shade and the rest are a different shade. This way we can see a correlation if there is one and if they are not correlating what do they do as a group. Another way I may look at them is put the commodity currencies as a color group. This way we can spot and see trends in this business no one else will be seeing.

I mean you can already see how I am using CSS to determine my TP and trade selections. I am seeing aud, nzd, and cad all moving up. How consistant is that? If we see Aud going up first and see Nzd and cad always following, do you realize what a trading advantage that is? AUD is moving up get your NZD and CAD trades ready. AUD is moving down get your NZD CAD sells ready. The more I study this CSS the more excited I am getting. It is doing what I taught the slope would do in 10.2 but a lot of people didnt get it because they got all hung up on the stupid ＩＴ ＲＥＰＡＩＮＴＳ　issue. They never saw what it was good for. They had brain freeze. Guys are finding out they have used indicators for decades and now are discovering that depending on your broker these lines can be in different places all over the world. WOW, sooner or later you will get it about indis. The best you will ever get out of them is momentum and a place to best guess your entrance. Guys keep telling me to find the best setups. Well the best setup on your chart maybe a nothing on mine. There just is no such thing. You spot momentum and go.

TJ has one of the simplest methods to trade PIN bars, forget all the rest. He has gotten dozens of guys going fox hunting. I love it. Wish I knew that when I CT traded all the time. It is true that most professional traders use one or two indis and that is it. Something that makes an angle and something that makes a horizontal line. In a nutshell that is my system. 240 is my angle line P/S/R are my horizontal lines. I go trade off the dips/rallies. The RSI 2 helps me filter. I then go trade.

Well said....

[nanningbob]

USD/JPY signal is good on 4H chart went to 1H to set my pendings. Already entered. Notice the double bottom on the 1H chart and TJ rules apply also. I like my bull meat burgers with mushrooms and fried onions cooked in butter. MMMMMMMMMMMMMMM

going to be some nice DD

DD??? cant have DD unless you are in a trade. .

so you aren't in that trade ? you said your pending was triggered.


must be nice not to have to worry about capital

Sooner or later some of you guys are going to get it. If I have one losing trade and it is going against me, it is one losing trade. What that means is something else is going up and it also has entered, then entered again and maybe even a third time. In other words my winners gain faster than my losers. That is 10.4 in a nutshell. I lost over 900 pips last week. The week before I lost almost 1500 pips. Most traders have a heart attack losing that much. I have some trades go down but it is one level causes some DD. The trades that are going my direction balance the DD out, then the 2nd level enters and DD disappears. more trades enter as the market moves and direction is found. Then I am up and away we go. Oh the week I had 1500 pips in losses I had over 2200 pips in gains. Some guys are not going to get this but the ones that do, they know they cant lose. What goes down, something is going up, the one going down is one, the one going up is multiple. BINGO profit. The name of the game. If you wrap your mind around it you got it. If you stay with the one in one out philosophy of trading yup your right you are going to lose.

OH since that usd/jpy trade has gone south my other trades have decreased my DD.

[TraderDesk]

Sooner or later some of you guys are going to get it. If I have one losing trade and it is going against me, it is one losing trade. What that means is something else is going up and it also has entered, then entered again and maybe even a third time. In other words my winners gain faster than my losers. That is 10.4 in a nutshell. I lost over 900 pips last week. The week before I lost almost 1500 pips. Most traders have a heart attack losing that much. I have some trades go down but it is one level causes some DD. The trades that are going my direction balance the DD out, then the 2nd level enters and DD disappears. more trades enter as the market moves and direction is found. Then I am up and away we go. Oh the week I had 1500 pips in losses I had over 2200 pips in gains. Some guys are not going to get this but the ones that do, they know they cant lose. What goes down, something is going up, the one going down is one, the one going up is multiple. BINGO profit. The name of the game. If you wrap your mind around it you got it. If you stay with the one in one out philosophy of trading yup your right you are going to lose.

OH since that usd/jpy trade has gone south my other trades have decreased my DD.

When using the daily CSS for placing trades do you have less drawdown overall then not using it when trading your basket of currencies?

[rosst]

OH since that usd/jpy trade has gone south my other trades have decreased my DD.

Is there a point where you cancel your pendings on the jpy pairs? - like if price closes below MA or reaches the SL you had set? Or maybe you keep adding pendings?

[Guest]

so you aren't in that trade ? you said your pending was triggered.

Sooner or later some of you guys are going to get it. If I have one losing trade and it is going against me, it is one losing trade. What that means is something else is going up and it also has entered, then entered again and maybe even a third time.

OH since that usd/jpy trade has gone south my other trades have decreased my DD.

I understand completely. several trades open averaging out your balance.

the usdjpy is accurate, i think you are absolutely right about that trade. i am in the same position, except i got in below the WMS