10.4 A Complete System

[nanningbob]

Go to a daily chart and look for the previous high. Here is the USD/JPY high. I expect now for price to reach these by Friday. Then it will bust through after a period of ranging but then again it may just bust through. To morrow will be follow up on today's news so that will give it more ooomph or ?????

[Staedtler]

Go to a daily chart and look for the previous high. Here is the USD/JPY high. I expect now for price to reach these by Friday. Then it will bust through after a period of ranging but then again it may just bust through. To morrow will be follow up on today's news so that will give it more ooomph or ?????

I understand. i just had to ask, because looking at the EJ high's looked like wishful thinking noticed your buy limit, i read you are setting a buy limit, and buy stops above the line. can you give me a little more detail if it's not too much to ask also, should i hold this EJ for quite a while, or look to modify my strategy, and TP on any pullbacks and set a stop above our next line

[nanningbob]

Here is USD/JPY monthly I marked their first goal for price. This is about 4-500 pips away. They could get there in weeks or a month but that will be their first goal. You can check the monthly charts and see where the next spot price will go. Then we will see what the news will be. The only currency I would worry about would be the Euro because of all the potential bad news there but it is quiet after the Cypress thing so even give the eur/jpy a ride for now. Anyway you can do this with every JPY cross.

[Staedtler]

Excellent, thank you for the very well thought out response, that really helps !

[Staedtler]

With that new insight on the EUR. i wonder if we might have a new entry for USDJPY. seems a bit less risky than my EJ right now.

[nanningbob]

My viewpoint on the eur/jpy will be this. I expect these two to battle for weakest currency. If euro zone is quiet buy, if it is noisy sell. Most likely these two will range but the euro has the upper hand for now. If Cypress stays quiet, kicked the can down the road everything is solved for now, then you have to wait for the next euro hot zone which could take months to get to. So eur/jpy should work for now and you could possibley see the euro move up the CSS list. Especially if USA Congress vs. President vs. Budget hits the news then you can see USD and JPY fight over bottom line. Eur, CHF, GPB then move up.

So as long as the news is quiet in europe you can ride the eur/jpy trade. JPY and USD could dominate the news for April and into May.

[nanningbob]

So far this week I have gotten 3106 pips and increased my account 31.4%. I had never done 2000 before, only done over 1000 5 times in over 6 years. Hit the GBP run early in the week and JPY run today. The multiple entries allowed me to score more pips than the move. This is what I envisioned could happen with 10.4. You would have occasional losers but the winners could multiply like crazy. Since Monday I　have pocketed in the bank:
eur/jpy 330 pips
cad/jpy 353
aud/jpy 487
nzd/jpy 205
gbp/jpy 568
chf/jpy 344
usd/jpy 452

gbp/jpy was the biggest move today at 382 pips but I 1.5 times that move with profit by using multiple entrances. Aud/jpy at 286 move was almost doubled. Not only that, I still have open trades on these pairs and if they move up some more, I will multiply my entrances again. I figured my risk and if my SL had been hit my loss would have been under 10%. That is over a 3:1 ratio. That is the point of my system. Almost every day it cranks out winners on a regular basis but when you hit the big move or run, the multiplication effect enters the picture to give you stunning results. This is bigger than anything I envisioned when I designed this system. I knew this could happen but not to this degree. Over 3000 pips and still have a day and half left. Someone pinch me please.

[Ingot54]

So far this week I have gotten 3106 pips and increased my account 31.4%. I had never done 2000 before, only done over 1000 5 times in over 6 years. Hit the GBP run early in the week and JPY run today. The multiple entries allowed me to score more pips than the move. This is what I envisioned could happen with 10.4. You would have occasional losers but the winners could multiply like crazy. Since Monday I　have pocketed in the bank:
eur/jpy 330 pips
cad/jpy 353
aud/jpy 487
nzd/jpy 205
gbp/jpy 568
chf/jpy 344
usd/jpy 452

gbp/jpy was the biggest move today at 382 pips but I 1.5 times that move with profit by using multiple entrances. Aud/jpy at 286 move was almost doubled. Not only that, I still have open trades on these pairs and if they move up some more, I will multiply my entrances again. I figured my risk and if my SL had been hit my loss would have been under 10%. That is over a 3:1 ratio. That is the point of my system. Almost every day it cranks out winners on a regular basis but when you hit the big move or run, the multiplication effect enters the picture to give you stunning results. This is bigger than anything I envisioned when I designed this system. I knew this could happen but not to this degree. Over 3000 pips and still have a day and half left. Someone pinch me please.

Gosh Bob - imagine what can be done once 10.4 is mastered ...

Congrats - that is awesome trading man! Thank you a thousand times for this.

I was reading the BOE was split 6:3 on a decision in February to increase QE from the current 375 billion pounds.

http://www.reuters.com/article/2013/03/ ... AQ20130320

It would only take two board members to change their mind now (given today's announcement by the BOJ) to swing the vote to 4:5 in favour of further QE in Britain.

Will the BOE Board now match the BOJ's actions?

Might this translate into more days/weeks/months like this?

What do you think ... will it now come right out into the open, that all central banks are attempting to scrub their debt by crazy debasement of their currencies? Traders already knew this, but I think the end of this is open financial warfare ... and astute traders can gain from that.

The BOE has an ann in one hour, regarding lifting their "Asset Purchase Facility" which is a euphemism for "money printing." There must be an increased probability today that the BOE will vote to do that, and the market might just be taken by surprise.

Given the meteoric rally in the GBPJPY today ... could this translate into a massive short, in one hour?

Is that a pinch?

[fx800]

Hi Bob,

Thanks for your insight on the yen. Many traders who sell yen on the rumour and buy the news got burnt this morning.

Cheers,
peter

[patman]

Hi Bob,

Great system and an awesome result this week for you.
Thanks for sharing your system & knowledge.

I have a question
The JPY headed south around 5am this morning - sending all XXXJPY pairs north.
Prior to this all these pairs were below the 240MA so pending sells would have been in place
The move happened while I was away so I missed it.
You must have been at your screen at the right time.

My question is did you wait till each pair crossed above the MA to place your pendings or did you jump in as soon as the move started. (based on your experience/knowledge)
(I'm still showing EURJPY below 240MA)

I think this is a case where you needed to be quick even though 10.4 id a 4H system.

Pat