10.4 A Complete System

[VirtualFM]

Today had the biggest rally for the Yen since 2011. And I was in the wrong side...

I was 300% profit in my account and all went away in a blink. I need to rethink my MM.

Back to 240 SL from now, no exceptions.

HAHA! That's nothing! (sorry, this is a nervous laugh!)

To me was even worse! Like everyone else, I was also expecting a Yen sell, so yesterday when there was that hint of "going up" on several pairs of I bought a bunch of stuff on xxxJPY , some even with multiple entries. Then I had a project to do and worked through all night long. In the morning I saw a profit of about 40 pips and a DD on all pairs, but nothing serious. I figured it was "picking up speed", like someone else said around here.

Then I went for a nap in the afternoon, because I'm not 20 anymore and working all night long is not what it used to be...

And when I woke up I was mesmerized! All the damn positions had hit SL and my account went down by, what... 90%, for sure (there was no "Red CSS saving" as I was asleep and I was quite confident JPY would go down anyway). But this is not the worse! Noooo, this wouldn't be good enough for me! So what happened next was that:

Me, *I ALONE* put a stop to the insane rally of GBPJPY!!! Yes, I was the responsible for stopping the insanity, that's how powerful I am!

"How?!", you may ask... Well... Like I said before, I woke up, saw the disaster of seeing my account with only 10% of its initial value, saw huge bearish bars in all JPY pairs and just without even thinking, shouted "WTF?!?!" and made a sell of GBPJPY.

NOTE: If I was entering a room where my kids were making all kinds of mayhem, I would have shouted "Stop this circus immediately!!!", but in the markets I cannot do that, so I do it by trading. It was only 0.01 lots, but was enough... they got it, and stopped whatever they were doing at that very moment!

And I can prove it to you! Here's my miraculous GBPJPY sell (see image! I even went to M30 so that you could see it better!).

What is really sad is that it didn't even allow me to close it for 10 or even 5 pips profit, from the moment I made the sell it just reversed. Of course I hit SL on that one too, loosing another $10 or so.

Can you see the magnitude of this?!

I lost... Selling JPY... TODAY! How's that for being lame?!

[peranders]

Today had the biggest rally for the Yen since 2011. And I was in the wrong side...

I was 300% profit in my account and all went away in a blink. I need to rethink my MM.

Back to 240 SL from now, no exceptions.

HAHA! That's nothing! (sorry, this is a nervous laugh!)

To me was even worse! Like everyone else, I was also expecting a Yen sell, so yesterday when there was that hint of "going up" on several pairs of I bought a bunch of stuff on xxxJPY , some even with multiple entries. Then I had a project to do and worked through all night long. In the morning I saw a profit of about 40 pips and a DD on all pairs, but nothing serious. I figured it was "picking up speed", like someone else said around here.

Then I went for a nap in the afternoon, because I'm not 20 anymore and working all night long is not what it used to be...

And when I woke up I was mesmerized! All the damn positions had hit SL and my account went down by, what... 90%, for sure (there was no "Red CSS saving" as I was asleep and I was quite confident JPY would go down anyway). But this is not the worse! Noooo, this wouldn't be good enough for me! So what happened next was that:

Me, *I ALONE* put a stop to the insane rally of GBPJPY!!! Yes, I was the responsible for stopping the insanity, that's how powerful I am!

"How?!", you may ask... Well... Like I said before, I woke up, saw the disaster of seeing my account with only 10% of its initial value, saw huge bearish bars in all JPY pairs and just without even thinking, shouted "WTF?!?!" and made a sell of GBPJPY.

NOTE: If I was entering a room where my kids were making all kinds of mayhem, I would have shouted "Stop this circus immediately!!!", but in the markets I cannot do that, so I do it by trading. It was only 0.01 lots, but was enough... they got it, and stopped whatever they were doing at that very moment!

And I can prove it to you! Here's my miraculous GBPJPY sell (see image! I even went to M30 so that you could see it better!).

What is really sad is that it didn't even allow me to close it for 10 or even 5 pips profit, from the moment I made the sell it just reversed. Of course I hit SL on that one too, loosing another $10 or so.

Can you see the magnitude of this?!

I lost... Selling JPY... TODAY! How's that for being lame?!

When I take trades "on the fly" in a move like this or after an interest change or other high impact I put a pretty narrow trailing stop. That way you would have made profit and got stopped out positive for the reversal.

[zentauro67]

I'm surprised to find someone who could make it even worse than me! We are brothers in arms from now.

[willmalou]

For many of us this is borne out of frustration of having no pure 10.4/10.5 trades available. So many tradeable pairs are outside SR1 and SR2 and SR3 in some cases.

This was several pages back, so sorry if I am so late to the table that my post appears ridiculous. Moving on......

I didn't see any trades today either, so I sat out. This week has still been a good one for me because:

• Bob finally helped me work out what CSS is all about - I read his pdf a few days ago.
• I have started to make sense out of what CSS is telling me.
• Amongst all this, managed to make about 100 pips.
• Added CSS functionality to my Shell

So, if nothing happens tomorrow either, I am still one happy bunny. It has been yet another good week in the 10.x stable.

Hello Steve, thanks for the site, I have learned so much here. Have you posted the shell with the CSS in the Coders Hangout forum yet?

[spillini]

Is there anyone that is having the same problem as me. I have a brand new laptop with a ton of ram. I followed the directions on the PDF page ver batim. When I hit the 104 in the profile tab, all the pages loaded but they say waiting for update....and they stay that way. Can anyone help, please.

Jim

[nanningbob]

Is there anyone that is having the same problem as me. I have a brand new laptop with a ton of ram. I followed the directions on the PDF page ver batim. When I hit the 104 in the profile tab, all the pages loaded but they say waiting for update....and they stay that way. Can anyone help, please.

Jim

It is a Empty4 glitch. Open market watch and drag each currency pair onto the screen. For example drag eur/usd from market watch to the eur/usd chart.

[MrLong]

7 x JPY trades = disaster.

[omar]

Im not the first one saying this: Thank you for Bob, Steve and the rest of this forum for blowing my mind in the art of forex. I made me self read and struggle for so long but, for the first time I have a system with frames that makes me confident and in some way able to gain something from this crazy man eating market. I have done that in weeks in a row now, Thank you!

My biggest/main problem is when I get bored or frustrated of waiting. I start trading ahead of the system. I listen to some smart fundamental theories and ---BOOM--- fox (wolf?) runs up behind me and kicks my balls. I dont over trade anymore (one lesion learned) but still.. this week learned me another lesion about what happens when I don`t follow the rules. (Fox - Balls - Boom- Ow!) I was waiting for JPG to weaken (System said the opposite) I did not follow the rules.... Smack!

10.4 is for me a Tank or a fortress , and as long Im inside its frames the fox cant really hurt me. Well he can, but then I hurt him more most of the time

Why is it so hard to wait for the right conditions? (sit on my hands)
Why do I go in this trap over and over? (believe Im smarter than all the worlds economists)

This might be beyond what this forum is about, but somehow I believe the biggest badass fox is in my head and its called boredom, thrill addiction , greed and lack of self control. Some times I got to burn bad and long before I learn that the fire is hot. Some times I learn it for a short period of time and forget. I admit that about myself and that kind of hurt.
The only thing I hate more than things I dont understand, is the things I do understand but still solve unwise.

Well I will deal with it, hopefully evolve as a person and trade smarter in the future. Hell maybe one day I get rich

I dont post much here because I dont have much to learn you but: Thank you to all of you, and a extra thank you to Bob for this brilliant system!

Sorry I know that my grammar sucks.

:)mar

[nanningbob]

There used to be a writer at the Orlando Sentinel who began his articles with 'Running off the Typewriter' Dang that is a funny sentence now. My kids have never seen a typewriter and my dad was a typewriter repairman. Oh well. Anyway.

Steve wrote a good note about how news stories are useless now days in trading. When I broke into this business my mentor was a news trader. Exciting thing to pick times to trade see how the news went and pop a trade. Also gave me headaches from staring too intensly at the screen and high blood pressure from too much excitement. Those were the good old days when you saw CAD news that said building permits up 10% and you would buy like crazy because you knew that thing was going to run a 100 pips or more.

Last night the CAD Ivy PMI was up almost 10 points. Very good news for the Canadians. Their economy has some really bright spots in a very ugly world. Good time to be a Canadian.

Some of you have been writing about how CSS kept you from a bunch of bad trades and that is good news. But today I am very discouraged. Not because I lost a lot of money, just a little .5% of my account. I am discouraged because some stuffed shirt in Europe name Draghi (nickname Dragon) went Blah blah blah and the market moved 100's of pips all over the place. Was it based on fundamentals, no. Was it based on indicators, no. 10.4 was giving great signals, no. prices were way outside normal boundaries. What am i supposed to trade anyway. Do I have to get a live line feed to news conferences, boring speeches, listen in to Congressional hearings and try to figure out what some stuffed shirt says?? These things these guys say dont show up as a number on a calendar chart. How are we suppose to trade when important news means nothing. Some country has been lieing about its economic reports so the AUD and NZD are sinking like rocks but we arent privy to whats driving it. Left a lot of money on the table not knowing China's economic figures are bogus. What ever happened to Forex being businesses and countries trading with each other and the results moved the market up and down. So my next trade is based on some BOJ guy speaking this morning. How about Bernanke, you want to trade based on what he says or doesnt say? Yeah I have had some success, Yeah 10.4 worked yesterday, but for the wrong reasons. Yeah Steve you are right in what you said but you shouldnt be.

Just running off the typewriter.

[SteveHopwood]

For many of us this is borne out of frustration of having no pure 10.4/10.5 trades available. So many tradeable pairs are outside SR1 and SR2 and SR3 in some cases.

This was several pages back, so sorry if I am so late to the table that my post appears ridiculous. Moving on......

I didn't see any trades today either, so I sat out. This week has still been a good one for me because:

• Bob finally helped me work out what CSS is all about - I read his pdf a few days ago.
• I have started to make sense out of what CSS is telling me.
• Amongst all this, managed to make about 100 pips.
• Added CSS functionality to my Shell

So, if nothing happens tomorrow either, I am still one happy bunny. It has been yet another good week in the 10.x stable.

Hello Steve, thanks for the site, I have learned so much here. Have you posted the shell with the CSS in the Coders Hangout forum yet?

No, but it is coming out with a new-toy announcement on Sunday for an EA cooked up between tex and myself, so I will upload the shell at the same time. Just have to write details into the user guide.