10.4 A Complete System

[nanningbob]

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

how many jpy pairs were you trading ? lol... 3500 pips my ass

Just the 7 majors, Will post details tomorrow.

Maybe this will work, attached Criminal Cowboy IBFX trade analyser output.

I may have created a monster. 12 levels on the gbp/jpy and it popped 230+ pips yesterday. I only went with 6 levels. 1145 pips in one day for all my trades. dang. 6% increase of my account. I will take that. I am having a great month. Something happened yesterday that never happened before but every single pending trade I posted entered. 52-10 yup I posted 60 trades in one day. Because I had so many going I would just TP every 20-30 pips so I didnt get caught in a reversal big bang on the account. Well they just kept going. If I had hung onto every trade and not closed, egads, but I remembered last Thursday so played in conservatively. 1000 pip day and I played it conservatively, dang that sounds stupid but it is what I did. Only two trades left on the board. a eur/nzd and aud/chf I like both of them and kept them. I think every single trade I posted just before the euro open hit profit, I will have to check later but that was quite a run.

[nanningbob]

AUD are outside the normal trade area except for aud/chf. Dont understand why that one wont run. If they retrace I may reenter. Cad/jpy is in never never land and chf/jpy is at a major R spot. All euro except eur/gbp are beyond S1/R1. All gbp are beyond S1/R1. nzd are within trading ranges and USD are out of range except usd/cad.

Not much to touch. Have no idea what will happen next. Lots of big moves yesterday. I probably will sit today out unless I see some major retraces. The only question left is will Friday be a retrace day or will the market be on steroids and go crazy? I am happy with my week so no need to take any risky trades. However, USD/JPY breaking 100 is big. People could really jump on it and set it soaring. Dang I hate it when I run out of lines. The only thing I will look at is if price retraces across the new daily pivot and then I have a place to reenter back into the trends.

3500 pips in one day huh. hmmmmmmmmmm will have to devise a plan to beat that sometime. Good show. I guarantee you will never forget today. Hang a plaque on your wall. That is something.

[nanningbob]

The gold bars have been just great. I have stayed out of trouble all week because of them. I stayed under 5% DD all week and when the big moves came I was in the positive side the whole day. We are definitely going out for Japanese food tonight. If you are from Japan I love you guys. Thanks.

[GSForex]

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

how many jpy pairs were you trading ? lol... 3500 pips my ass

Just the 7 majors, Will post details tomorrow.

Maybe this will work, attached Criminal Criminal Cowboy IBFX trade analyser output.

I may have created a monster. 12 levels on the gbp/jpy and it popped 230+ pips yesterday. I only went with 6 levels. 1145 pips in one day for all my trades. dang. 6% increase of my account. I will take that. I am having a great month. Something happened yesterday that never happened before but every single pending trade I posted entered. 52-10 yup I posted 60 trades in one day. Because I had so many going I would just TP every 20-30 pips so I didnt get caught in a reversal big bang on the account. Well they just kept going. If I had hung onto every trade and not closed, egads, but I remembered last Thursday so played in conservatively. 1000 pip day and I played it conservatively, dang that sounds stupid but it is what I did. Only two trades left on the board. a eur/nzd and aud/chf I like both of them and kept them. I think every single trade I posted just before the euro open hit profit, I will have to check later but that was quite a run.

Newbie question Bob. For these JPY pairs, how do you control how to take profit? You don't know when the price is going to stop, today itself, USD/JPY had around 160 pips with 2 pauses.
I still trying to comprehend what would be the best strategies to NOT MISS the runs while you are sleeping.
Could you post your today's executed trades so I could analyze them.

Thanks so much!

[Pipstubborn]

Bob, your system sucks!!..... I ran out of lines!!! hahahaha....ONLY made 2381 pips today and 1800 still on the working!

Thanks again my mentor.

[nanningbob]

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

how many jpy pairs were you trading ? lol... 3500 pips my ass

Just the 7 majors, Will post details tomorrow.

Maybe this will work, attached Criminal Criminal Criminal Cowboy IBFX trade analyser output.

I may have created a monster. 12 levels on the gbp/jpy and it popped 230+ pips yesterday. I only went with 6 levels. 1145 pips in one day for all my trades. dang. 6% increase of my account. I will take that. I am having a great month. Something happened yesterday that never happened before but every single pending trade I posted entered. 52-10 yup I posted 60 trades in one day. Because I had so many going I would just TP every 20-30 pips so I didnt get caught in a reversal big bang on the account. Well they just kept going. If I had hung onto every trade and not closed, egads, but I remembered last Thursday so played in conservatively. 1000 pip day and I played it conservatively, dang that sounds stupid but it is what I did. Only two trades left on the board. a eur/nzd and aud/chf I like both of them and kept them. I think every single trade I posted just before the euro open hit profit, I will have to check later but that was quite a run.

Newbie question Bob. For these JPY pairs, how do you control how to take profit? You don't know when the price is going to stop, today itself, USD/JPY had around 160 pips with 2 pauses.
I still trying to comprehend what would be the best strategies to NOT MISS the runs while you are sleeping.
Could you post your today's executed trades so I could analyze them.

Thanks so much!

If you are new just go from line to line. Enter, take profit at the next line set a pending above it and go to the next line. Be a singles hitter. When you get the hang of that go for doubles. Remember market moves are slow at the beginning of the week with Mondays sometimes providing excitement. The big moves of the week are usually Thurs. and Fridays. Yesterday I just did the beginner thing. I profited at almost every line and set a pending for the next line. I just kept going and then left one trade on each pair and went to bed. Got up this morning and they had all run. The gbp/jpy ran 230+pips yesterday I got 200+ of them. I had some overlap on some trades because I let some go two or more levels. Crossing weekly pivot/daily pivot are great trades. Ride them until the Weekly mid pivot or daily Support1. Then take profit and set the next pending above the line. If the market continues the move you are in if it doesnt you made a profit. Keep doing this until you get a feel for market moves. It takes years to develop a sense of the market but it comes from trading day in and day out. Until then one line at at time. You will make money and your confidence will grow. Dont get fancy. Trade a lot size that you arent afraid of blowing your account. Day by day 1/2% here 1% there then boom big day 6% for me yesterday. All of a sudden its the middle of the month and your account is up 5-20%. That is what it is about. That day by day grind it out and then the big day comes once or twice a month and your sitting on a nice month.

[nanningbob]

Bob, your system sucks!!..... I ran out of lines!!! hahahaha....ONLY made 2381 pips today and 1800 still on the working!

Thanks again my mentor.

Students are doing better than the teacher. I think I will take a chair and go hide in the corner and learn how to better trade my system.

[GSForex]

. . . yesterday. All of a sudden its the middle of the month and your account is up 5-20%. That is what it is about. That day by day grind it out and then the big day comes once or twice a month and your sitting on a nice month.

OK, Thanks Bob, still learning here....

[VirtualFM]

I mean I never dreamed of 1000 pip days.

Well, I'm an idiot that keeps making mistakes and according to i-Profit tracker indicator even I got 959 pips today!

I did a ton of mistakes early in the week (basically overtrading and getting caught in the JPY reversals) but recovering now, and if all goes well I will be even for this week, keeping a profitable month and getting better at "being patient"!

[nanningbob]

I mean I never dreamed of 1000 pip days.

Well, I'm an idiot that keeps making mistakes and according to i-Profit tracker indicator even I got 959 pips today!

I did a ton of mistakes early in the week (basically overtrading and getting caught in the JPY reversals) but recovering now, and if all goes well I will be even for this week, keeping a profitable month and getting better at "being patient"!

I remember those days. Got to the end of the week and realized if I had just waited I would have done better. But dont fret it, I lost money the last 2 weeks of April because I just didnt believe the JPY would retrace so much so I was impatient and entered too early. I even still do that. So have fun learning something I still do wrong at times.