10.4 A Complete System

[zentauro67]

Hm. A Gartley pattern looks a lot like an M. Doesn't CJ's fox-hunting PA approach say that M's are bearish?

Where did you find the Fourier analysis indi?

M are bullish in harmonic trading (Gartleys, butterflies, crabs, bats, etc) .Last leg from M prepares the reversal. (W are bearish) I don´t know CJ´s thread yet, but some day I ll go there.

This is the fourier indi. I use it just for fun. Sometimes it is awsome, sometimes is genuine crap.

fourier-extrapolator.mq4

[fahedksa]

Hope you guys provide your trades report for theese week so i can study you entries and why i still make big mistakes up to now.

[kwanann]

I guess everyone is a winner with usdchf I put in some pendings at dr1 and wms1, got triggered during family time and just TP before market close.

Glad to see the light turning on for those that were trying to figure how to trade ala cj and 10.x

Enjoy your weekend guys!

[kwanann]

Hm. A Gartley pattern looks a lot like an M. Doesn't CJ's fox-hunting PA approach say that M's are bearish?

Where did you find the Fourier analysis indi?

That ain't a M, like I posted quite a while back, I.m off yen trades for now, something doesn't look right to me

[Pipstubborn]

You got it right, Bob. I'm an engineer at heart. Electrical Engineering & software. Gotta understand how something works, at least a little bit, and I tend to pick it apart to see what it's doing.

I can drive a car without knowing all the details of how it works. But I've never had any luck "just getting in and driving" in the trading world. It's like I'm crawling into the cockpit of the Shuttle, and I have no idea which of those buttons mean "go faster," "go slower," and "blow up" !!



So I ask lots of questions.

10.4 is a damn fine blueprint, and I'm hoping I can finally use it to master all those buttons and knobs. Thanks for your generosity and sharing, and for your patience with my questions.

Gary, great cockpit of the shuttle pic. Not my intention to open a brainstorm of personalities..... great discussion though.

I'm a retired veterinarian.... drive my car and take it to the service station when needed.

[andygrope]

Hi again,
As a newbie with 10.4,I am hanging out to work through the pdf's and set everything up but was wondering if there is an easy guide to setting up all the indis and then the best guide to a routine for using the charts as set up. Think I saw one somewhere but first I don't want to mess up my charts with the wrong indicators etc..
Can anyone help please?

[Pipstubborn]

So you may see that overall eur is stronger than overall gbp but you still need the individual comparison of each against each other on one chart to get the best entrance point.

That makes perfect sense. I just don't understand why you'd want DIFFERENT indications on the two pages. If EUR is stronger than GBP on the Info page, but EUR is weaker than GBP on the EURGBP chart, which one do you believe?

The Info page shows an at-a-glance status for all 8 currencies. The individual pair chart shows the status for 2 currencies, alongside the pair. That's very useful, but I would think the data would be the same on both charts. If they're different on purpose, then how do you interpret them when they're different? What are the different values supposed to tell me?

Simple Gary, You believe the Info Page. The CSS on the chart fine tunes your ENTRY.... ENTRY PENDINGS When you go to the pair in your example on H4 chart you wait until the lines cross back again in the direction of the INFO Page or you are on a Gold bar.... it is a PinPoint tool. When in the chart are opposite is telling you that YOU ARE IN A PULLBACK....GET READY TO LOAD!

I did 1051 pips today, 2996 pips yesterday and 9573 pips for the month so far because I believe the way I just explain to you.

By been too analytical.... you are missing the boat, the fun and the load trying to figure how the engines of the Carnival Cruisse works instead of enjoying the ride.

Pipstubborn - I am trying to get my mind around what you said here -- you say "you believe the Info page" - does this mean the D1 on the Info page? For example, on the usdchf the usd is above the chf on the D1 and on the H4 usd is on the bottom while the chf is on the top (same on CSS on the chart) - so you are looking for the pairs to change places on the H4? Thanks for the help...

Hi Rosst, Yes... I meant the D1 CSS Info Page, that's the main guide. In your example USD/CHF, the D1 CSS on the Info Page is telling you that the USD is the strongest currency but the strengh is decreasing for the time been but still strong and the H4 CSS on the Info Page gave you a heads up that the strength of the USD was weakening, meaning that the USD is on a retracement or dip in the UT. (looks that the dip is almost over by now) You can see that by looking at the red line almost flat right now on the H4 CSS Info Page. I like to see the lines on both rather than the numbers. With the lines you can see where are they coming from. And yes they are going to change places.

Remember that the fundamental (main) trend is up UT said by the 2 LWMA on MN1 chart or 240LWMA on H4 (they are almost the same).... so in the UT you are having dips (valleys) and those dips are reflected by the H4 CSS Info Page and also in the CSS of the H4 chart.

Now let's go down to the H4 chart. The first thing you are looking for is the RSI2 (as Bob says, do and I also do is to check RSI2 top/bottom flat on all charts in 10 min or less) RSI2 is bottomed flat below 20 and is telling you that you are in a BUY ZONE but not yet, and therefore YOU CANNOT SELL.

Exactly when you are going to start buying PENDING BUYS?....
H4 CSS on the chart is going to tell you. Right now the background is red telling you that you are still in the dip but the lines of the currencies are getting closer and closer. This also tells me that the dip is almost over..... so when a gold bar on H4 close shows up, right there and then you and I we start pending buying using all the DAILY LINES found on the H1 chart.

If you study the line of CHF on the D1 & H4 CSS on the Info Page you'll find that the CHF was and is doing exactly the opposite thing that the USD is doing.

I hope this helps and make it crystal clear. Sorry for been repetitive but once you grasp this you are going to say OMG!

[Pipstubborn]

Another nuance of 10.4 is the use of the pivots...


A lot of old time traders use pivots, and as Bob has pointed out crosses of the DP or WP are generally considered the switch of bias from short to long or vice-versa. Basically they're using pivots to assess the health of the trend. If price is consistently above the pivot, trading in a range between r1 (or r2, r3) and the pivot and retraces are respecting the pivot, then it's still an uptrend. if price is consistently beneath the pivot, trading between s1 (or s2, s3) and the pivot and retraces are respecting it, then you're in a downtrend. When price breaks that pivot this is most likely the start of a transition to a range or the beginning of a reversal. It's another thing to notice on the 10.4 template and help you decide when you want to set your pendings.

When price is trapped between the pivot and the 240, it's time for conservative traders to pass. Aggressive traders might go counter trend (using RS12 and CSS or price action) after the break of the weekly pivot, but before the break of the 240, targeting the 240 instead of WS1 or WR1.

I've marked up Kwanann's chart to illustrate.

Some questions:
In this period, price still manages to cross WP and hits WR1. You mentioned that at WR1 it's a good point for counter trend shorts. How do you know this, since at that point price is between WP and WR1 and it's supposed to be in "long" trade.

I am sorry if this is not related to 10.x. Please feel free to delete my post here.

Thanks

When the market is ranging S/1 R/1 are great places to CT trade, you will notice when the market is ranging how much Captain Jack's group very confident of their trades. He has a great range trading system. They kind of disappear when the market trends because price will break those pins and continue. The experienced trader will recognize this and adjust, new ones will take some hits and wonder what happened. Being able to recognize trending markets, ranging markets and sudden changes is what makes you a good trader. It is done by seeing charts and movements year after year. You recognize that things are moving differently and you catch the change.

I got caught with my pants down on the JPY in April and took some hits. In May I made sure that didnt happen again so I stayed with the light weights chf/jpy and cad/jpy and they ended up being the biggest movers I ended up with 44 wins and 18 losers on the chf/jpy but ended with over 600 pips to the good. However this time they were my only JPY trades. Yesterday's move got me out of the chf/jpy with no loss but some nice profit.

I am now playing with the cad/jpy which has decided to do a quad bottom on me. I could close all the losing positions and be BE for the month but I dont want to since I know the bond sale is next week and I will get most if not all back. Either way cad/jpy will be off the books by the end of next week or the 10th of the month. Win or lose I wont play with it much longer than that.

I am curious as to why the CAD has gone so weak. It has had solid economic news and hasnt done anything bad. USA economy is picking up so that should drag the CAD with it. Heck with that I hate trying to understand fundamentals sometimes.

I think it's because Canada is weakening it's currency to be competitive with the world. Almost everybody is doing the same

[nanningbob]

Hi again,
As a newbie with 10.4,I am hanging out to work through the pdf's and set everything up but was wondering if there is an easy guide to setting up all the indis and then the best guide to a routine for using the charts as set up. Think I saw one somewhere but first I don't want to mess up my charts with the wrong indicators etc..
Can anyone help please?

I posted a loading instruction book on page 1 post 1.

[andygrope]

Hi again,
As a newbie with 10.4,I am hanging out to work through the pdf's and set everything up but was wondering if there is an easy guide to setting up all the indis and then the best guide to a routine for using the charts as set up. Think I saw one somewhere but first I don't want to mess up my charts with the wrong indicators etc..
Can anyone help please?

I posted a loading instruction book on page 1 post 1.

Doh. Sorry I will read post 1 Page 1 properly this time.
Do appreciate the reply Bob.
It is a credit to you that you are still active in the forum.
Do you think that with your system success may come a bit earlier because your system eliminates more grey areas than others?
Do you thing it makes decisions easier for relative newbies?
Do you still have to make a decision about which is a ranging market trending market etc and when and if they have changed.
I have put a lot into reading price action and candles but the trends are easy to read after the fact and not so easy at decision making time.
I have been working on Trading Made Simple (BigE - ForexFactory)) with a demo account and have had positive results but my pip count is not enough to send me on holidays.