10.4 A Complete System

[Gertje]

Gertje, awesome results. Following Lydia's question is that you set pendings at every daily pivots on H1 and you TP at DAILY S/R1. Is this correct?

Thanks, Pipstubborn

Correct, sometimes I use (M)SR2 if the PA allows it.

If after à pending has triggered PA goes against me, I added orders on the available lines.
If orders stay open overnight, I changed TP to the new SR1/ 2.

It went kind of intuitively, give it a try. What I found is that on H4 I had to wait 10, 20 or even 50 pips before à pending triggered, and now on H1 I already reached my TP using the daily lines.

[Gertje]

Gertje.. just one more. Are you using two entrys and 3rd line is tp or what ? How do you deal with orders numer (how many levels do you usually use) and how do you filter to use 2 or 3 or 4 entrys ?

Depends on where the PA is. If it's below S1 and the SRI signals a long, you have S1, MS1, P and MR1 to ener before TP at R1.

You can always close manually and remove overdue pendings if PA isn't following the setup.
.

[Nidolap]

Gertje.. just one more. Are you using two entrys and 3rd line is tp or what ? How do you deal with orders numer (how many levels do you usually use) and how do you filter to use 2 or 3 or 4 entrys ?

Depends on where the PA is. If it's below S1 and the SRI signals a long, you have S1, MS1, P and MR1 to ener before TP at R1.

You can always close manually and remove overdue pendings if PA isn't following the setup.
.

Gertje, and how do you manage SL?

Thanks.

[Gertje]

Gertje.. just one more. Are you using two entrys and 3rd line is tp or what ? How do you deal with orders numer (how many levels do you usually use) and how do you filter to use 2 or 3 or 4 entrys ?

Depends on where the PA is. If it's below S1 and the SRI signals a long, you have S1, MS1, P and MR1 to ener before TP at R1.

You can always close manually and remove overdue pendings if PA isn't following the setup.
.

Gertje, and how do you manage SL?

Thanks.

240MA is my 'mental' SL.

Some trades I started very close, or even just on the other side of the 240MA that a hard SL at the 240MA would have been taken immediately.

If the RSI signals, I put in the pending trades.
.

[Nidolap]

Ok, so 240MA stays the main StopLoss, but if you enter 2nd and 3rd trades do yout set it to BE or all of them stays at the same 240 level?

Thanks.

[Pipstubborn]

Gertje, awesome results. Following Lydia's question is that you set pendings at every daily pivots on H1 and you TP at DAILY S/R1. Is this correct?

Thanks, Pipstubborn

Correct, sometimes I use (M)SR2 if the PA allows it.

If after à pending has triggered PA goes against me, I added orders on the available lines.
If orders stay open overnight, I changed TP to the new SR1/ 2.

It went kind of intuitively, give it a try. What I found is that on H4 I had to wait 10, 20 or even 50 pips before à pending triggered, and now on H1 I already reached my TP using the daily lines.

Gertje, thanks for your confirmation. I wanted to know that we are in the same page. After Black Monday I stop trading Tue and Wed. On Thursday evening I start to spot setups on H4, switch to H1 and placing pendings from PA all the way up to one line before DAILY S/R1 and TP at DAILY S/R1. Only mental SL at 960 H1 line or 240 on H4 and NO BE.

At the end of Friday I made 368 pips and 7.52% profit just in one day and still have some live orders working over the weekend waiting to hit TP. So making your goal of 100-200 pips a day.... I think it's perfectly feasible.

Green pips to you and all. And again, BIG THANKS TO BOB for mentoring me. Let's get ready to have fun and profits next week.

Pipstubborn

[MurphyMan]

New update to Bob's post collection in Post #1 of the Dummies thread . Just added about 45 more pages, sorry I got behind, just a little busy. I hope this is proving useful.

BTW - I changed the name to Bob's Fishing Lessons.

The pdf is now almost 2 MB and the Doc file was over 6 MB. I can only post 2 MB max, so now I only have the pdf file listed. If anyone has a work-around, please PM me and let me know.

http://www.stevehopwoodforex.com/phpBB3 ... =37&t=1504

[MrLong]

Speculators add to yen shorts .....................

http://www.forexfactory.com/news.php?do=news&id=423486

It's the commercials you need to follow, all this data is $ long or $ short.
[ Mod edit -- added code tag so the columns line up ]

Code: Select all

JAPANESE YEN - CHICAGO MERCANTILE EXCHANGE                           Code-097741
OPTION AND FUTURES COMBINED POSITIONS AS OF 04/16/13          |
--------------------------------------------------------------| NONREPORTABLE
      NON-COMMERCIAL      |   COMMERCIAL    |      TOTAL      |   POSITIONS
--------------------------|-----------------|-----------------|-----------------
  Long  | Short  |Spreads |  Long  | Short  |  Long  | Short  |  Long  | Short
--------------------------------------------------------------------------------
(CONTRACTS OF JPY 12,500,000)                        OPEN INTEREST:      264,842
COMMITMENTS
  27,508  118,109   29,779  188,151   51,341  245,438  199,229   19,403   65,613

CHANGES FROM 04/09/13 (CHANGE IN OPEN INTEREST:     -6,422)
 -14,636    2,168    3,154   12,029  -11,388      547   -6,066   -6,969     -356

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADER
    10.4     44.6     11.2     71.0     19.4     92.7     75.2      7.3     24.8

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS:      148)
      26       75       39       33       31       88      116

[Gertje]

FX-street.com shows gap-up openings for most JPY pairs.....

[Staedtler]

Speculators add to yen shorts .....................

http://www.forexfactory.com/news.php?do=news&id=423486

It's the commercials you need to follow, all this data is $ long or $ short.
[ Mod edit -- added code tag so the columns line up ]


where you guys getting all this from ?


EDIT : nevermind. found it

http://www.cftc.gov/dea/options/financial_lof.htm