10.4 A Complete System

[nanningbob]

Hi Bob, thank you for teaching us your wonderful system ! Would you kind enough to share with us : how do you set SL for these yen trades ? You have mentioned if the SL for these yen pairs are hit, the loss is small, just wonder how far away are your stops from the entry price.

I am not using SL with the JPY those are other trades I dont like. There is no reason to use a SL with JPY it is going down for months or even years to come. That doesnt mean there wont be retraces etc. but you could literally trade that thing for a long time and never use a SL

[Gertje]

What I have found to be the mental benefit of 10.4 is the peace of mind it gives.

At the moment I have over 50 orders open, and am able to sleep like a baby knowing I'm on the right side of the game. Some pairs can go against the position, but in the end they will come back again and pay out.

[cmeade2]

Bob

Where are your pending orders for the yen pairs?

cmeade2

[aworex]

What I have found to be the mental benefit of 10.4 is the peace of mind it gives.

At the moment I have over 50 orders open, and am able to sleep like a baby knowing I'm on the right side of the game. Some pairs can go against the position, but in the end they will come back again and pay out.

I agree, I now understand why counter trend trades move so sluggishly and only give false spikes into news releases only to fall back in line with the trend with momemtum. The 10.4 makes trading so easy these days without having to chase the market or be reactive to false breakouts

[MurphyMan]

Since April 1 I have had 42 losing trades for 1512 pips in losses, that averages to 6 losing trades a day. Most of you would be jumping off of bridges if you lost 6 trades a day for 7 straight days. However, I have pocketed 7987 pips since April 1 for a grand total of 6475 total pips gained. That also equates to a 69% increase in my account.

OK now you were saying about how you can improve the system?? I dont wish to sound mean or harsh but yes that system would work beautifully, but why would I want to change??

Bob, I have a smaller account that I trade infrequently on, it's balance was around $1,600 USD. On April 4 & 5 I took out four EJ trades, each for .05 lots. Now, less than a week later, those four little trades are worth $875 profit and has increased the account by around 46%.

I think I'm going to let this account just sit and see where the yen takes it.

Fantastic!

[nanningbob]

Since April 1 I have had 42 losing trades for 1512 pips in losses, that averages to 6 losing trades a day. Most of you would be jumping off of bridges if you lost 6 trades a day for 7 straight days. However, I have pocketed 7987 pips since April 1 for a grand total of 6475 total pips gained. That also equates to a 69% increase in my account.

OK now you were saying about how you can improve the system?? I dont wish to sound mean or harsh but yes that system would work beautifully, but why would I want to change??

Bob, I have a smaller account that I trade infrequently on, it's balance was around $1,600 USD. On April 4 & 5 I took out four EJ trades, each for .05 lots. Now, less than a week later, those four little trades are worth $875 profit and has increased the account by around 46%.

I think I'm going to let this account just sit and see where the yen takes it.

Fantastic!

Amazing what those stupid little nickels trades can do. If these guys can just understand that a nickel trade can actually make money and you can walk away from your account and not have to worry about it. Today the power went down in our section of the city. I did not have internet connection until I got home at 5. I went almost 8 hours with out seeing my account. For many traders this would cause a panic. For me Ehhhh ......... so what. I trade small enough not to worry I multiply enough to make good percentages of my account. If you can just adjust your thinking and understand you dont need big lots and tight SL. Just go with the flow. Once you see this it is a thing of beauty. I have 19 open trades and I have nearly no risk to my account. Yet if price moves in my direction in the USA session bing bing bing the multi levels kick in. If it goes against me my losses would not damage my account. Anyways enough.

Time to go watch a short movie, had company tonight. Echo was my daughter's Chinese teacher 10 years ago and she came over with her boyfriend and we made pizzas for dinner. No electricity all day, friends over for 2 hours, never once did I have to worry about my account. However, if price goes in my direction I will pocket 2-4% increase in my account, If not, not a problem. Trade again tomorrow.

Trade in a way you can trade again tomorrow.

[Chris]

audjpy, it about to break thru the top

[nanningbob]

eur/jpy ready to go up again. Finally our first 10.4 read on the JPY move. I have been running strictly on fundamental moves, now 10.4 reads are beginning to kick on on JPY pairs on the 4H chart. It means the rate of increase has slowed enough for indicators to have meaning again. Here is the Eur/jpy setup for tonight. What this means is your indicators are just now beginning to come back online to get reads from. That is good news and bad news. Good news in that I can read my charts again. Bad news in the really really big moves will start coming to an end and normal trading begins.

What I mean is the UT has been so sharp indis are useless. Now we can get back to reentering the trend again.

[Jemook]

Hi:

Did anyone else get this monster pin on the NZDCHF, I'm with GP.

nzdchfh4.png

Thanks
Mark

Hi Mark,

This spike was caused by a bad tick through one of our Liquidity Providers. We've narrowed down which LP caused this and we are in talks with them about why it occurred. They better have a damn good reason or they will be removed from our group of LPs. It's simply not acceptable for a bad tick like this to occur.

Again, thanks for pointing it out and I will update on the GP thread regarding the final resolution.

Regards,
Jeremy

[nanningbob]

Sorry the last pic was aud/jpy this is the eur/jpy.