10.4/10.5 trades only

[nanningbob]

Japan has absolutely no choice anymore. They have to weaken their currency to bring down their debt to GDP ratio. This is what they are facing. Can you say the word quadrillion, what ever that means. From John Maudin's newsletter.

Japan has a GDP that is now close to 500 trillion yen (give or take a few tens of trillions). Their most recent budget calls for Y92.6 trillion in spending, almost evenly divided between Y43.1 trillion financed from tax revenues and Y42.9 trillion from the issuance of new bonds, adding to Japan's massive public-sector debt that already totals nearly Y1 quadrillion. Say that with a straight face: 1 quadrillion. And this massive debt is not a recent phenomenon: it has been accumulating for many years.

Tax revenues have been going down for decades, as the country has been mired in no-growth deflation for 24 years. Revenues are now down to where they were in 1985. By way of comparison, US tax revenues in 1985 were $734 billion (or $1,174 billion in constant 2005 dollars). Last year, US revenues were $2,450 – that is, more than double the 1985 total. (taxpolicycenter.org)

I am going to ride the wave again this month and the entire market has moved into position to go with it. Why in the world do you think every single currency has moved out the S1/R1 levels during the first day of the week. Traders start your engines because it is going to be fun.

[nicoacademia]

if it helps faedskha.
please refer to what i posted only just 5 posts before yours, on the same page, before the UK session got underway.
Mon Jun 03, 2013 4:37 pm(SGT) post
it even has your EURNZD pair screenshot there.
and also explained why AUD was not chosen.

as for McNish.
at least for when i was following D1Css and posting it it showed the nuances.
top 2 bottom 2 is a very simplistic initial approach.

you can check out
http://www.stevehopwoodforex.com/phpBB3 ... &start=260
Wed May 29, 2013 9:35 am(SGT) post to see the nuances.

but i guess if you keep stacking probabilities in your favour that's the way to go forward.

and always always in accordance with 10.4's core core.
240 line and RSI2.

[fahedksa]

Hi,
I enter pending Buy @DP attached chart,Is it right trade?

[fahedksa]

if it helps faedskha.
please refer to what i posted only just 5 posts before yours, on the same page, before the UK session got underway.
Mon Jun 03, 2013 4:37 pm(SGT) post
it even has your EURNZD pair screenshot there.
and also explained why AUD was not chosen.

as for McNish.
at least for when i was following D1Css and posting it it showed the nuances.
top 2 bottom 2 is a very simplistic initial approach.

you can check out
http://www.stevehopwoodforex.com/phpBB3 ... &start=260
Wed May 29, 2013 9:35 am(SGT) post to see the nuances.

but i guess if you keep stacking probabilities in your favour that's the way to go forward.

and always always in accordance with 10.4's core core.
240 line and RSI2.

Greatful for your help and i will keeping practice the great system

[nicoacademia]

Hi,
I enter pending Buy @DP attached chart,Is it right trade?

Yup.
Don't get too greedy aim for the next line
if you wanna experiment you can take most off and BE the rest.

people like me are more cautious so usually i will take before the line.

but this part isn't part of the system but more of personal preference.

[Jemook]

For the past 2-3 weeks almost every trade I've put in using this system has gone straight into profit. Here are the trades I've taken so far today:

todaystrades_001.png

[nicoacademia]

And as always check the calendar too.
It adds the volatility to achieve price targets.
Or whether things make sense.

Yen 10-Y bond auction
AUD rate decision/statement.
Spanish unemployment
GBP Construction PMI
CAD trade balance
USD trade balance
(tho it seems trade balance isn't something market is particularly looking at. maybe for CAD?)

There's alot of daily discipline n daily rigour to go about doing things.

[mjws00]

Yep. Decided to punch in as well. All trades taken via RSI2 4H, confirmed with 1Hr CSS. A few entries via DP cross, or very recent cross. Ignore GBPAUD, she's a straggler from another idea on a very long TF.

Time to rock and roll. Haven't added pendings yet, but may pick up a few here and there. Come hell or high water I am getting my volume up.

Haven't had a chance to move yet like Jem's.

Mike

[tboy]

jemook, i recall you posted a neat paragraph summarising your approach - a combo of h1 css to enter and then monitoring on h4? would you mind reposting it as can't find the original. thx tboy

[Jemook]

LONG PAIRS (Above 240)
1. Watch on H1 charts.
2. Wait for a decent retracement to WP or WS1.
3. Wait for H4 RSI to be pinned to the bottom.
4. Wait for H1 CSS to change colour from red to goldenrod or green and enter.
5. Risk 1% per trade and place stop at a previous low using Easy Order to calculate the position size.
6. Aim for TP of WR1 OR close any trade early if the H1 CSS colour changes back to red.

SHORT PAIRS (Below 240)
1. Watch on H1 charts.
2. Wait for a decent retracement to WP or WR1.
3. Wait for H4 RSI to be pinned to the top.
4. Wait for H1 CSS to change colour from green to goldenrod or red and enter.
5. Risk 1% per trade and place stop at a previous high using Easy Order to calculate the position size.
6. Aim for TP of WS1 OR close any trade early if the H1 CSS colour changes back to green.

Open trades from this morning:

todaystrades_001.png

Up around 4% for the day floating profit with virtually zero drawdown. I've been doing this consistently for the last 2 weeks and LOVING it. Time will tell if this sticks in the long run but so far I can't find any faults with this style of trading.