10.4 A Complete System

[spillini]

EUR/GBP is moving nicely off the weekly 1, run smack into the weekly pivot. Nice little trade there.

FYI, Good time to sell EUR/GBP at a bargain, guys.

[zentauro67]

Curious how EURUSD rebounds against 240 WLM.

It's like there are two different types of swings. Female swings, round, soft, reminiscent of a woman's breasts, and male swings, square, energetic, built on (pardon the comparison) phallic forms.

AUDUSD is, in this sense, the most feminine of pairs, and EURUSD the most masculine.

[garyfritz]

Bob, you understand the market moves a lot better than I do. So, question:

Your style seems to be evolving to a fairly quick in & out, grab small moves in the market action, go flat for the weekend. That's tough for me to manage on my schedule. A slower, longer-term approach would work a lot better for me.

What do you think of using 10.4 to get in on moves, and then just let them run until (whatever)? That's what I've been doing for the last few weeks and it's been working well, mostly because of the nice move in AUD. Yesterday I had over 1200 pips open profit on trades I'd opened in the last few weeks. (3 opened April 24-26, 1 on April 30, the rest this week.) The AUD strength yesterday kicked a dent in my open profit (9 of my 11 positions involved AUD ) but I'm still doing OK. I'm trailing stops so I don't lose too much when it turns.

I figure these currencies run for weeks or months at a time, so why not ride the whole move, adding positions along the way? E.g. I figure I could have picked up about 800 pips from AUDCAD in the last month, adding positions when 10.4 signaled.

Obviously this won't work so well when currencies turn or go flat. But there seem to be lots of opportunities when they're trending. If they're flat, then that would be the time to go to shorter holds and maybe 10.5 trades. The trick of course will be deciding when to ride trends and when to counter-trade.

I think this was the idea you first proposed with 10.4, but you seem to have evolved away from it, and I'm wondering why. It *seems* to work well for me...

[TraderDesk]

Well price with GBPJPY has finally started to move up. I am surprise that it is JPY today doing the heavy lifting as I was expecting GBP to do the work today with JPY doing it tomorrow morning...

Bob, it would be nice to see USDJPY 100 break today...

I decided to close most of my positions now in case 100 does not break. If it does I still have a few open and of course buy stops higher up...

[peranders]

Well price with GBPJPY has finally started to move up. I am surprise that it is JPY today doing the heavy lifting as I was expecting GBP to do the work today with JPY doing it tomorrow morning...

Bob, it would be nice to see USDJPY 100 break today...

I decided to close most of my positions now in case 100 does not break. If it does I still have a few open and of course buy stops higher up...

I was waiting almost all day for the move. 2 microlots, now 30$ up, closed one.
Made up for more than what I lost taking the wrong way when AUDUSD first spiked down on bad Chineese data and then immideately spiked up on good Aussie data. I would have made it to profit on that one too if I hadn't had broker slippage. I closed before the spike up, the broker closed it halfway up for a loss of 14$.

10.5 is awesome, gives one the confidence to stay in the trade even if the entry was some pips off.
Thanks Bob and Baluda for giving this tool.

[TraderDesk]

I was waiting almost all day for the move. 2 microlots, now 30$ up, closed one.
Made up for more than what I lost taking the wrong way when AUDUSD first spiked down on bad Chineese data and then immideately spiked up on good Aussie data. I would have made it to profit on that one too if I hadn't had broker slippage. I closed before the spike up, the broker closed it halfway up for a loss of 14$.

10.5 is awesome, gives one the confidence to stay in the trade even if the entry was some pips off.
Thanks Bob and Baluda for giving this tool.

Yes I was waiting as well... I went ahead and close out at WR1 all my GBPJPY positions... I was thinking of keeping one open for WMR2 but I don't see JPY pushing higher at the moment since I see on USDJPY it bounced off of WR2...

Time not to get greedy...

[peranders]

I was waiting almost all day for the move. 2 microlots, now 30$ up, closed one.
Made up for more than what I lost taking the wrong way when AUDUSD first spiked down on bad Chineese data and then immideately spiked up on good Aussie data. I would have made it to profit on that one too if I hadn't had broker slippage. I closed before the spike up, the broker closed it halfway up for a loss of 14$.

10.5 is awesome, gives one the confidence to stay in the trade even if the entry was some pips off.
Thanks Bob and Baluda for giving this tool.

Yes I was waiting as well... I went ahead and close out at WR1 all my GBPJPY positions... I was thinking of keeping one open for WMR2 but I don't see JPY pushing higher at the moment since I see on USDJPY it bounced off of WR2...

Time not to get greedy...

I have added force indicator on 1H in RSI2 window it helps me decide wheather or not there is momentum left around S/R levels.

[Gertje]

I'm going out for Japanese food this weekend; 3500 pips.....

[spillini]

Be aware..... Careful tomorrow, we could see nice little selloff. Just FYI

Jim

[MrLong]

I'm going out for Japanese food this weekend; 3500 pips.....

Is that from JPY pairs this week or total pips?