10.4 A Complete System

[nanningbob]

I wonder if this is one of those traps CJ likes to talk about. Getting traders to think the market is really changing direction. OK this is not for the faint of heart. For those of us who trade small lots we can ride these things out. Those that like trading big lots get their SL hit in both directions as they try to change to the changing market. Spike up, spike down, spike up again??

[Chris]

Why do I try? May be I would not care if I could tell how they were going to manipulate, unfortunately I do not have unlimited reserves of cash like the big banks. Why do I try?

[nanningbob]

Why do I try? May be I would not care if I could tell how they were going to manipulate, unfortunately I do not have unlimited reserves of cash like the big banks. Why do I try?

These news spikes are difficult. My entrances on nzd and aud are light so not a problem I am willing to ride the JPY trades out. So will set tight for now.

[Chris]

AUSUSD is headed for the 240

[nanningbob]

You think about how skittish the market is. China grew only 7.7% instead of 7.9% and this is suppose to be bad news. You imagine if Europe, Japan, USA could grow 7.7% what that would mean to the market. Just garbage.

[Chris]

Why do I try? May be I would not care if I could tell how they were going to manipulate, unfortunately I do not have unlimited reserves of cash like the big banks. Why do I try?

These news spikes are difficult. My entrances on nzd and aud are light so not a problem I am willing to ride the JPY trades out. So will set tight for now.

Ya I am trying to hang on too, unfortunately I am in 2 or 3 levels on some of these pairs. We kind of through the 10.4 rules out the window with the macro economic news and now I am paying for it. It might just be another hard lesson for me. I think I may have over extended my account I am currently down 21%, about everything I have made this year. Sorry to complain a little here. I am not blaming 10.4, I think it is a great system, it just I broke the rules with the JPY stuff.

[nanningbob]

AUSUSD is headed for the 240

I got out of nzd and aud trades with the breadk of the Trendlines. I tried following them with some pendings but closed all those out Friday. The only live trades I have now are JPY crosses and usd/cad. Others are closed. I will wait out the JPY no patience with the rest.

[Chris]

I'd feel much better if I were opening fresh buys now. We need some news to spike it the other way. The worst part is that if I do recover from any of these I will probably be out at BE. So then you just feel like crap cause you took a whole bunch of heat to BE. Guess we know how those short NZD players felt the other day now. Now would probably be a good low risk trade for you in the AUDUSD then.

[Chris]

I think the daily chart still look pretty good on alot of these though. The Euro session could reverse all of this just as easy too.

[nicoacademia]

JPY crosses look very good for buys especially as it hit those weekly pivots.

edit: whats abit of drawdown.
JPN just reopened from lunch.
Kuroda speaks later at 1.5hrs time.

i'm just adding microlots here. and more pending buys at the lower weekly pivot on $EURJPY.
$USDJPY holding up much more.

i compare this with a CCI(40) even that's gone down to the crapper.
looks good. just keep adding.
its like a firesale.

$USDJPY 97.20 is open space not filled. broken resistence not tested as support.
its at 97.7x now...so more room for more fire.