10.4 A Complete System

[nanningbob]

Does any one have the indi that draws line every 100 pips at the 00 line. I have seen people with these but I have never had one. I guess I need a new toy to play with.

This is the one I use:-

SweetSpotsGOLD.mq4

EDIT: Please note that for 5-digit brokers you need to add an extra '0' to 'SweetSpotMainLevels' and 'subLevels' in the parameters.

Ok this is what I am going to try. I set my pending buy/sell for TP 45 and I place them on the lines every 50. This gives room for spread. So every 50 pips I can set a trade in the direction of the trend. I should have only one trade ever go into DD if the idea works right. If I want to do multiple levels I can set the TP for 90 or set trades every 25 pips. This should control DD on each currency yet you bag the whole move. Will try it out instead of using Daily levels which has caused me to have too many trades too close together. So all I need is the WP/WS1/WR1 with the CSS and RSI2. I then enter ever 50 or 25 pips depending how I want to trade. I TP around the same time I enter a new level or I can give a bigger TP and do two or three levels using smaller lots. Price really likes to hang around the 00 and 50 lines. So this could be interesting.

[dididudu]

hello.
like a fool, I got in a storm on my live account.
I'm up on jpy pairs with a stop loss very low.
several very small lots EVERY jpy pairs but still a DD of 19%.
I want a rebound rsi to go out with less waste.
which is in my case, and asks the same question, or wait out an improvement?
I find the system 10.4 enfraint great but I thought the rules a boj intervention.
About did

[zentauro67]

How many confirmed 10.4 trades were there this week?

My EA took 2, AUDCAD 18:25 05/06/2013 and AUDNZD 05/06/2013 (Alpari UK server time, Both short trades and both are winners AUDNZD still rolling + 48 and stop to entry.

Fantastic system.

Thanks Bob, for sharing all your hardwork.

Hi, Andy.

I´m using your EA (updating all the versions) and admire very much your work. I use demo for the EA and live for 10.4 my own way. I´m thinking seriously in switch demo for "my own" and live for the EA.

Cheers.

[endikwong]

Does any one have the indi that draws line every 100 pips at the 00 line. I have seen people with these but I have never had one. I guess I need a new toy to play with.

This is the one I use:-

SweetSpotsGOLD.mq4

EDIT: Please note that for 5-digit brokers you need to add an extra '0' to 'SweetSpotMainLevels' and 'subLevels' in the parameters.

Ok this is what I am going to try. I set my pending buy/sell for TP 45 and I place them on the lines every 50. This gives room for spread. So every 50 pips I can set a trade in the direction of the trend. I should have only one trade ever go into DD if the idea works right. If I want to do multiple levels I can set the TP for 90 or set trades every 25 pips. This should control DD on each currency yet you bag the whole move. Will try it out instead of using Daily levels which has caused me to have too many trades too close together. So all I need is the WP/WS1/WR1 with the CSS and RSI2. I then enter ever 50 or 25 pips depending how I want to trade. I TP around the same time I enter a new level or I can give a bigger TP and do two or three levels using smaller lots. Price really likes to hang around the 00 and 50 lines. So this could be interesting.

Hi Bob,

With regard to set pendings every 50 pips and take profits every 45 pips. What do you think of the stop loss points of the pending ones. Do you use the starting price of the previous one as stop loss of current one ? Example start price 100, then take profit every 45 and set pending every 50. When price is at 150 (where second trade is triggered), do you use 100 for stop loss ? Maybe half from previous start (125) but I am not sure if it gives enough room for price to fluctuate before continuing the trend.

Thanks

[zentauro67]

Does any one have the indi that draws line every 100 pips at the 00 line. I have seen people with these but I have never had one. I guess I need a new toy to play with.

This is the one I use:-

SweetSpotsGOLD.mq4

EDIT: Please note that for 5-digit brokers you need to add an extra '0' to 'SweetSpotMainLevels' and 'subLevels' in the parameters.

Ok this is what I am going to try. I set my pending buy/sell for TP 45 and I place them on the lines every 50. This gives room for spread. So every 50 pips I can set a trade in the direction of the trend. I should have only one trade ever go into DD if the idea works right. If I want to do multiple levels I can set the TP for 90 or set trades every 25 pips. This should control DD on each currency yet you bag the whole move. Will try it out instead of using Daily levels which has caused me to have too many trades too close together. So all I need is the WP/WS1/WR1 with the CSS and RSI2. I then enter ever 50 or 25 pips depending how I want to trade. I TP around the same time I enter a new level or I can give a bigger TP and do two or three levels using smaller lots. Price really likes to hang around the 00 and 50 lines. So this could be interesting.

Hi Bob,

With regard to set pendings every 50 pips and take profits every 45 pips. What do you think of the stop loss points of the pending ones. Do you use the starting price of the previous one as stop loss of current one ? Example start price 100, then take profit every 45 and set pending every 50. When price is at 150 (where second trade is triggered), do you use 100 for stop loss ? Maybe half from previous start (125) but I am not sure if it gives enough room for price to fluctuate before continuing the trend.

Thanks

There are some EAs and scripts for scaling, but if you want set pendings manually you can use the rude trailing stop from Empty4 (set it to 50 pips) and set all the SL to 240 with this script:

DragDrop_modify_stops.mq4

Practice in demo until the amount of pips of the trailing make work the fundamental idea of scaling :several winners, only one loss.

[nanningbob]

Does any one have the indi that draws line every 100 pips at the 00 line. I have seen people with these but I have never had one. I guess I need a new toy to play with.

This is the one I use:-

SweetSpotsGOLD.mq4

EDIT: Please note that for 5-digit brokers you need to add an extra '0' to 'SweetSpotMainLevels' and 'subLevels' in the parameters.

Ok this is what I am going to try. I set my pending buy/sell for TP 45 and I place them on the lines every 50. This gives room for spread. So every 50 pips I can set a trade in the direction of the trend. I should have only one trade ever go into DD if the idea works right. If I want to do multiple levels I can set the TP for 90 or set trades every 25 pips. This should control DD on each currency yet you bag the whole move. Will try it out instead of using Daily levels which has caused me to have too many trades too close together. So all I need is the WP/WS1/WR1 with the CSS and RSI2. I then enter ever 50 or 25 pips depending how I want to trade. I TP around the same time I enter a new level or I can give a bigger TP and do two or three levels using smaller lots. Price really likes to hang around the 00 and 50 lines. So this could be interesting.

Hi Bob,

With regard to set pendings every 50 pips and take profits every 45 pips. What do you think of the stop loss points of the pending ones. Do you use the starting price of the previous one as stop loss of current one ? Example start price 100, then take profit every 45 and set pending every 50. When price is at 150 (where second trade is triggered), do you use 100 for stop loss ? Maybe half from previous start (125) but I am not sure if it gives enough room for price to fluctuate before continuing the trend.

Thanks

I keep my SL in the 240 area and then adjust as I see the market move. My test tonight was a smashing success.36 winning trades as I played the retracements with this logic thinking it was over due. Entered and exited one trade at a time on dozne currencies. I used smaller lots for testing purposes. This is going to be tested some more but I can tell you I already like it. I will use it to trade up to S1/R1 areas in the future.

[mjws00]

Andy I had 10 trades. Almost all on the 4/5th. All strict entries confirmed by 1 Hr CSS before pendings placed. Pendings placed on daily lines, but no multi entries triggered. All were winners for ~260. Next to no DD. I had maybe 3 others light on the dashboard that never got there with CSS confirmation. Didn't trade London last night as everything needed a retrace and didn't feel like riding NFP spike.

I tried to hit everything that moved, but didn't get much love. 1 legit long EJ trade. Might have skipped a couple legit xxxjpy shorts. Quiet and safe week played strict in a style similar to Jem and Gertje.

Mike

[cmeade2]

I find that the best strategy along these lines is to look for the color change on 1 Hr CSS. Then set pending buys or sells (depending on the color) at the next daily or weekly line. The follow through is almost 100%.

Andy I had 10 trades. Almost all on the 4/5th. All strict entries confirmed by 1 Hr CSS before pendings placed. Pendings placed on daily lines, but no multi entries triggered. All were winners for ~260. Next to no DD. I had maybe 3 others light on the dashboard that never got there with CSS confirmation. Didn't trade London last night as everything needed a retrace and didn't feel like riding NFP spike.

I tried to hit everything that moved, but didn't get much love. 1 legit long EJ trade. Might have skipped a couple legit xxxjpy shorts. Quiet and safe week played strict in a style similar to Jem and Gertje.

Mike

[kwanann]

Well that was nice, they choose to do bond buying today

[peranders]

Does any one have the indi that draws line every 100 pips at the 00 line. I have seen people with these but I have never had one. I guess I need a new toy to play with.

This is the one I use:-

SweetSpotsGOLD.mq4

EDIT: Please note that for 5-digit brokers you need to add an extra '0' to 'SweetSpotMainLevels' and 'subLevels' in the parameters.

Ok this is what I am going to try. I set my pending buy/sell for TP 45 and I place them on the lines every 50. This gives room for spread. So every 50 pips I can set a trade in the direction of the trend. I should have only one trade ever go into DD if the idea works right. If I want to do multiple levels I can set the TP for 90 or set trades every 25 pips. This should control DD on each currency yet you bag the whole move. Will try it out instead of using Daily levels which has caused me to have too many trades too close together. So all I need is the WP/WS1/WR1 with the CSS and RSI2. I then enter ever 50 or 25 pips depending how I want to trade. I TP around the same time I enter a new level or I can give a bigger TP and do two or three levels using smaller lots. Price really likes to hang around the 00 and 50 lines. So this could be interesting.

Hi Bob,

With regard to set pendings every 50 pips and take profits every 45 pips. What do you think of the stop loss points of the pending ones. Do you use the starting price of the previous one as stop loss of current one ? Example start price 100, then take profit every 45 and set pending every 50. When price is at 150 (where second trade is triggered), do you use 100 for stop loss ? Maybe half from previous start (125) but I am not sure if it gives enough room for price to fluctuate before continuing the trend.

Thanks

I keep my SL in the 240 area and then adjust as I see the market move. My test tonight was a smashing success.36 winning trades as I played the retracements with this logic thinking it was over due. Entered and exited one trade at a time on dozne currencies. I used smaller lots for testing purposes. This is going to be tested some more but I can tell you I already like it. I will use it to trade up to S1/R1 areas in the future.

Thanks for keeping us updated and for all your work.