10.4 A Complete System

[tommiho]

So to follow 10.4 rules before NFP on EURUSD is probably not a good idea since the consensus is 200K and previous 236K.So EUR should strengthen. I may set buy pendings just above 240 for this. Although there may be some corrections as to previous numbers.hm
Thanks for info.

[tommiho]

So which pairs to go for? I had pendings on
EURUSD sell
EURCAD sell
GBPCAD sell
GBPNZD sell
Than started to think about the pair correlation and expectation of USD to weaken and decided it would be better to remove them.

[Jonathan2FI]

Bob, Captain Jack and other 10,4 ers,
10.4 trade the retracements using RSI with pivots providing entry and exits with additional exits with AO trade only in direction of 240 with strong confirmed trend... clearly the last 3 words here is where discretion can enter.
I understand that too many filters can destroy a system ...done that been there etc This is clearly not my intention.

Anyway what if any are the group using as useful Filters that others should research/use to eliminate pairs/trades that don't comply and or often fail with 10.4?

In the posts I have seen comments by yourself and others as well as myself
1. 50 LWMA additional confirmation if below or above 240
2. 600 EMA equiv . 100EMA position if PA between 240 and 600 avoid
3. Use slope strength D1 and take top 3 and bottom 3 strongest and weakest on daily
4 Avoid certain pairs that don't trend and or are strongly influnenced by short term gov. action e.g. swissy.

In addition to the above, major S&R needs to be considered - identify horizontal, big numbers, obvious TLs ...do these impact on potential trades if they do in a positive way don't filter if in a negative way filter trade/pair.

Jonathan

[patman]

Bob,

Thanks for taking the time to reply.

Congrats on your success - long may it continue

Pat

[tommiho]

Ok made my mind, going for GC GN 10.4 short and set some pendings on EJ if NFP will end up as expected.If not I am gonna have also pendings on UJ to allow for upmove.

[nicoacademia]

circus time. still expecting spike downs. but how low will they go...if any. we'll just have to see.

food for thought just to bracket things nicely.
http://www.zerohedge.com/news/2013-04-0 ... ll-preview

of which i agree.

[nanningbob]

Bob, Captain Jack and other 10,4 ers,
10.4 trade the retracements using RSI with pivots providing entry and exits with additional exits with AO trade only in direction of 240 with strong confirmed trend... clearly the last 3 words here is where discretion can enter.
I understand that too many filters can destroy a system ...done that been there etc This is clearly not my intention.

Anyway what if any are the group using as useful Filters that others should research/use to eliminate pairs/trades that don't comply and or often fail with 10.4?

In the posts I have seen comments by yourself and others as well as myself
1. 50 LWMA additional confirmation if below or above 240
2. 600 EMA equiv . 100EMA position if PA between 240 and 600 avoid
3. Use slope strength D1 and take top 3 and bottom 3 strongest and weakest on daily
4 Avoid certain pairs that don't trend and or are strongly influnenced by short term gov. action e.g. swissy.

In addition to the above, major S&R needs to be considered - identify horizontal, big numbers, obvious TLs ...do these impact on potential trades if they do in a positive way don't filter if in a negative way filter trade/pair.

Jonathan

I use 240 line and RSI 2 for my trade unless I have a compelling reason not too. JPY was the exception this week. I personally think NFP is over rated and have never really found it to be as dynamic as people claim. I have not problems following my system because the odds are in your favor that DT or UT will continue and the news will support these reentries back into their trends. If they dont your SL is not that far away so you take some hits. However if they do go back into the trend like 10.4 is telling you, you have a high reward trade with low risk. I am not shying away from the signals tonight and am taking the trades. See you in a couple of hours. My trades are set and I am going to watch a movie and come back in a couple of hours. I will have multiple winners or some single losers or no entrances. That is how the system works. When you are right you are well rewarded, if you are wrong take the single hit and move on. That is what makes this system more dynamic than any other system on the market. That is what helps you beat the odds. I have my pendings loaded and ready to go. All 17 of them. If price goes my way, money in the bank. If not some will take and I will have a handful of losers. Sooner or later some of you will get this.

[nanningbob]

Let me put it this way, I have had 29 losing trades this week. For some of you, you would commit suicide if you ever did that. That comes out to 783 pips. I am not afraid to trade. My lots are small enough to trade without fear and the multiplication of winners loads it up. Once you grasp the multiplication factor you will begin to understand the system.

[nanningbob]

5 minutes and counting. While the news happens and your all sitting on the edge of your seats. I will be watching a movie. See you in about 2 hours. Bye.

[nicoacademia]

5 minutes and counting. While the news happens and your all sitting on the edge of your seats. I will be watching a movie. See you in about 2 hours. Bye.

this is gold. i wish i could join ya for the movie.
3 years trading NFP and always perfectly snooked by them.
but i'm stuck to my desk job now...so...not much else i can do.