10.4 A Complete System

[peranders]

AUDJPY is now right on the 240MA line, it is also the same place as to where the pinbar extended down to before retracting when that fake report of white house bombing moved JPY pairs.

[kwanann]

AUDJPY is now right on the 240MA line, it is also the same place as to where the pinbar extended down to before retracting when that fake report of white house bombing moved JPY pairs.

Wait.. It's still not done

[Gertje]

I usually like those friday-runs, but it seems I'm on the wrong side today.....
I have 75 open orders, of which only 6 have floating profit....

[Pipstubborn]

Cmeade2, I have been watching very carefull the RSI2 and when it makes a twitch (hook) on both H4 & H1, something happens.

I remember that you mention this in the earliy stages of 10.4 Can you elaborate a bit more?

Thanks, Pipstubborn

[kwanann]

Ok drop done, entered audjpy at 100.336, be set, now going bed and see what will happen to it next week.

Good nite all, good luck with your trades

[cmeade2]

My thinking on that has been evolving, and I can't remember exactly what I said, but I assume it had to do with the question of when to enter a 10.4 trade if you have a clear setup on the RSI(2) (i.e., pinned high or low).

I am well aware that there are lots of people on this forum who will start entering trades simply when the price starts to hit weekly pivot levels, regardless of the level of the RSI(2).

An example is that someone posted a short on AUDCHF in the past day or so, presumably because it had hit the WR1. If you had gotten in that trade when it first hit the level, you would now be up about 40 pips, but you also would have had about 50 pips of drawdown.

The view that I articulated is that it is a bit safer to wait until you see some sort of break on the H4 RSI(2) before getting in. If you did it in this case, you probably would have gotten in above WR1.

Based on a posting by Jem I have also been looking a lot at touching/crossing the MA 5 shift 1 as an indicator of when to get in a 10.4 trade. In this case, that also would have been above the WR1.

Finally I have been collaborating with Bob on some issues of RSI(2) and CSS which would have gotten you in the trade at about the same time.

I think Bob will update on these issues over the weekend.

cmeade2

Cmeade2, I have been watching very carefull the RSI2 and when it makes a twitch (hook) on both H4 & H1, something happens.

I remember that you mention this in the earliy stages of 10.4 Can you elaborate a bit more?

Thanks, Pipstubborn

[slowkey]

Risk adverse or rather risk off kind of day which Fridays can be but the low US GDP number definitely turned off risk appetite. JPY pairs all in retreat but all will be nice setups at the beginning of the week. However USD/JPY is down -173 pips from open with all the pairs down 140 to over 200 pips from there open at the moment. Sat out today. I have been trading this system a month and this was a 700 pip week for me. Growth over the last 30 days has been around 10%. I am looking forward to the changes Bob has talked about with the new indicator.

Fabulous work Bob, it just keeps getting better.

[peranders]

Ok drop done, entered audjpy at 100.336, be set, now going bed and see what will happen to it next week.

Good nite all, good luck with your trades

Good pick, WMS1 was around 100.400 (depending on broker feed).

[kwanann]

Ok drop done, entered audjpy at 100.336, be set, now going bed and see what will happen to it next week.

Good nite all, good luck with your trades

Good pick, WMS1 was around 100.400 (depending on broker feed).

Oh didn't know that, was trading off my iPad caught the leg down, then bought it on the retracement.

Anyway got stopped out, cos I added a jumping stop at 20 pips. Nice profit anyways

[Jemook]

Based on a posting by Jem I have also been looking a lot at touching/crossing the MA 5 shift 1 as an indicator of when to get in a 10.4 trade. In this case, that also would have been above the WR1.

Finally I have been collaborating with Bob on some issues of RSI(2) and CSS which would have gotten you in the trade at about the same time.

I think Bob will update on these issues over the weekend.

cmeade2

C'mon already! I'm itching to see this new work

J