10.4 A Complete System

[Gertje]

I sure hope so. The only way is up!

Maybe this weeks JPY-intrest announcement can full the run a bit more......

You think it will keep running for a while?

Gertje, You get a nice entry on EJ or GJ using daily pivots? EA got me in on the weekly on EJ at WP 128.61. Closed one for +58, one +79... but the bottom was very nicely painted by RSI2. We bounced off DS2. DMS2 entry using your idea would have been nice. Intended to let the second one run.... but just banked

150.30 (WP) was the perfect std 10.4 GBPJPY entry. No daily pivot necessary. Have to figure out why my bot was asleep at the wheel. Time to dock its pay.

Mike

Had a nice counter 10.4 on EU as well (RSI2). Still free-running.

GBPJPY from DS2 up,
EURJPY from DMS2 up,
Still looking to TP.

Will be later tonight, going home after I closed my desk.
.

[zentauro67]

God save Baluda!

[Pipstubborn]

GBPJPY from DS2 up,
EURJPY from DMS2 up,
Still looking to TP.

Will be later tonight, going home after I closed my desk.
.

Awesome. Love it.

Gertje, great entries at DS2 and DMS2. Are you planning to TP at DR1?
I'm planning to do the same. Awesome, will see how it goes

[Staedtler]

i don't know how you guys trade the h1.. i trade it, and get nailed.. i trade the 4h, and have better results

[Pipstubborn]

i don't know how you guys trade the h1.. i trade it, and get nailed.. i trade the 4h, and have better results

It's the same..... the only difference is that you place your pendings on H1 lines, then back to H4.
In other words, instead of placing your pendings on Weekly lines you do it on Daily lines.

Then you have 2 choices.... you TP at DR1/DS1 on H1 or once back to H4 you TP at WR1/WS1 on H4.

Hope this helps, Pipstubborn

[mjws00]

For the JPY pairs where we have ~200 pips between WP and WMR1. Finding a method to enter the trending long trade without waiting for a 200 pip rise first becomes important. Where weekly pivots are tight, they are without a doubt more solid SR.

It is a pretty good solution to getting a slightly tighter entry in some cases. It will also be more prone to peaker trades, but less likely to tag you and then run very hard away, as the weekly lines do at times.

One thing excellent about this system, is it can get you in to a trend that is running hard. That is very hard to do with anything that has an oscillator, ma, or is PA based. A breakout through a pivot or mid is a super "line in the sand" style entry, keeps one from chasing, but ensures large moves aren't missed waiting for a "setup". For me that is incredibly useful as with trend setups are never as crisp or as pretty as I'd like.

You can salvage a VERY high percentage of these entries to BE+ if you are on the ball. The money is always made managing and closing the trade. Never been close to trusting a bot to get me in, but I seem to be hanging in at over ~80% on "blind" entries, just letting the bot take the trade, and managing as I see fit. I can easily integrate that into a life beyond vampyrism even in this timezone.

Looks like Bob has another idea on timing pendings, so that is cool as well, and may save us some drawdown.

Mike

[SWG123]

Never been close to trusting a bot to get me in, but I seem to be hanging in at over ~80% on "blind" entries, just letting the bot take the trade, and managing as I see fit.
Mike

Mike - are you referring to the bot on MrLong's thread?

http://www.stevehopwoodforex.com/phpBB3 ... =37&t=1619

I ask because this thread is about manually trading 10.4 but I've also seen recent references to Baluda (Paul) although I can't seem to find anything so just wondering if I've missed something significant.

Steve

[johnnylpt]

For the JPY pairs where we have ~200 pips between WP and WMR1. Finding a method to enter the trending long trade without waiting for a 200 pip rise first becomes important. Where weekly pivots are tight, they are without a doubt more solid SR.

It is a pretty good solution to getting a slightly tighter entry in some cases. It will also be more prone to peaker trades, but less likely to tag you and then run very hard away, as the weekly lines do at times.

One thing excellent about this system, is it can get you in to a trend that is running hard. That is very hard to do with anything that has an oscillator, ma, or is PA based. A breakout through a pivot or mid is a super "line in the sand" style entry, keeps one from chasing, but ensures large moves aren't missed waiting for a "setup". For me that is incredibly useful as with trend setups are never as crisp or as pretty as I'd like.

You can salvage a VERY high percentage of these entries to BE+ if you are on the ball. The money is always made managing and closing the trade. Never been close to trusting a bot to get me in, but I seem to be hanging in at over ~80% on "blind" entries, just letting the bot take the trade, and managing as I see fit. I can easily integrate that into a life beyond vampyrism even in this timezone.

Looks like Bob has another idea on timing pendings, so that is cool as well, and may save us some drawdown.

Mike

Hi Mike,
Can you tell me more about your method? It is essential to us newbies.

Thx
John

[johnnylpt]

My Great Teacher Bob,
Glad to hear you are getting well. The weather in Nanning is unpredictable in April. Please keep warm in the night.

Just came back from Yang Shuo for vacation. It's really wonderful. Hope next time will meet you in Nanning. Tea or coffee, sir?

Forex student
John

[mjws00]

Andy's EA with a few tweaks is pretty good at entering using 10.4 methods. Bob has this system simplified to the point that a bot can execute on that part. It is 2 incredibly simple conditions. Perfect for a mechanical entry. My version is tweaked to only consider RSI2 and above or below the 240 ala my interpretation of Bob's actual trading.

What I do is filter and take profit. If we are ranging around a pivot... I pull the pending. If PA is stalling, I take a profit, or a partial, and set a SL BE+. If I have a peaker, I either cut it early or if I think we will retest that pivot during the weak, set a BE+ TP and let it ride. I don't trade for home runs, I trade for base hits and a very smooth equity curve. Greed kills so I take my money when it is there, and leave some for the runner.

I have tried to get my volume up to approach Gertje or Bob, but haven't been successful at that yet. So I heavily control what pairs get traded. If something is turning or at Major SR or we are making lower highs but haven't cracked the long 240, I remove it from the list. Essentially I just try and give the system the best chance. It is discretionary and manual, but if I don't hate the chart, I just let it do it's thing and manage it after. I DON'T let it take 6 correlated trades and draw down 20% hoping to get that big score.

The benefit is I don't have to wait for a setup or be there. I can manage from my phone or a 1 minute check of chart or price. I prefer to trade live, but require a tiny bit of sleep, and am in a bad timezone.

For me, Gertje's idea of using the 10.5 daily lines on some pairs is useful. I like tight clean entries with low drawdown. So I am looking at that and testing. The cost is more time in front of my screens. Usually I am there any way.

I'm not much good at following someone else's system or style. I love to study, discuss, and integrate things into my own flow. I counter trade, go short when Bob says long, pick turns, and do all kinds of heinous things. I'm happy trading naked, or with a couple indi's, my charts speak to me both ways. But there are some core elements and strengths in this framework that can benefit nearly everyone. Frankly, if I can maintain or increase my returns and cut my mental and physical overhead I'm in. I don't need 5000 pip weeks.

LOL. Another book. Maybe there is something useful. Maybe tldr;

Mike