10.4 A Complete System

[art]

ok, i got it, the jpy on the info page is certainly turning down, so buy back in on retracement, bobs trades allready hit good profit,foolish to jump in now

[Anonymous]

Yen is weakening on both TF of INFO PAGE. Maybe now is the good one. Good luck!

I wouldn't go long with xxxjpy until UJ break it's 240 line. If it fail all xxxjpy will go down.

You can wait if you want to.
So far today I have pocketed
EJ +92
CJ +135
AJ +35
UJ +63
CJ +78
GJ +43

Total +446

And I have more profitable trades going on with them now.

The Master. I know that you are very good trader so it doesn't suprise me. Anyway... you have SAID it yourself.

Main 10.4/10.5 rule - BUY above 240, SELL below 240. None of above gains were made with 240 rule... all were made against it.

We all know that you are very good teacher/trader and you are able to make great amount of pips/money. But hey... these trades were still agianst rules

If you have the choice;
A. Trade ''against the rules'' and make money
B. Trade ''with the rules'' and loose money or stand aside

What choice would you make?

I made a few bad decisions last week, my signature will show for that. I know now where I went wrong, and will trade ''against the rules'' again if I see fit.
.

Many got hit last week trading fundamentals. So, I can understand why some are standing aside today.

If I remember correctly, how many did say "stick with the rules" last week.

Unless you know what you are doing, it would be safer to stick to 10.4 rules. You may have missed on some profits today, there will always be other opportunities.

You can never compare your results with Bob. Apart from being a great teacher, he is also a very experienced trader.

[pips400]

All JPY pairs now facing combination of resistance, e.g. previous highs, 240, etc, will be interesting to see what happens from here. On the break of resitance and next retrace I'm in. Just remember exposure to risk and keep within MM rules. Trade the edge not the moment

[nanningbob]

ok, i got it, the jpy on the info page is certainly turning down, so buy back in on retracement, bobs trades allready hit good profit,foolish to jump in now

Look for trades crossing WP lines or 240 lines. Most of the xxx.jpy are at that point now. I am really loaded for bear if they cross those lines. USA session may have a retracement but I will just load up again for the JPY session tomorrow. If the USA session joins in I am in. If it retraces I have grabbed all the profit unto those lines. So I dont care what price does either way I am going to profit. The BIG BOYS cleared the tables last week and frightened everyone off. I have seen this so many times. It wouldnt surprise me if during the USA session they clobber everyone again, they want writers and traders so thinking sell xxx.jpy that they can really clean house again. Kind of fun to watch once you catch on. At least this time I was ready. Anyway off to the dentist. I will see if the big boys will clobber that last remaining buyers today or they fell they have already done that and will hit it solid tonight. Trading small allows me the privilege of riding out their little game and then joining them when they move. Some of you guys will get this and the rest of you ................ watch the journey.

[fx800]

Yen is weakening on both TF of INFO PAGE. Maybe now is the good one. Good luck!

I wouldn't go long with xxxjpy until UJ break it's 240 line. If it fail all xxxjpy will go down.

You can wait if you want to.
So far today I have pocketed
EJ +92
CJ +135
AJ +35
UJ +63
CJ +78
GJ +43

Total +446

And I have more profitable trades going on with them now.

The Master. I know that you are very good trader so it doesn't suprise me. Anyway... you have SAID it yourself.

Main 10.4/10.5 rule - BUY above 240, SELL below 240. None of above gains were made with 240 rule... all were made against it.

We all know that you are very good teacher/trader and you are able to make great amount of pips/money. But hey... these trades were still agianst rules

If you have the choice;
A. Trade ''against the rules'' and make money
B. Trade ''with the rules'' and loose money or stand aside

What choice would you make?

I made a few bad decisions last week, my signature will show for that. I know now where I went wrong, and will trade ''against the rules'' again if I see fit.
.

Many got hit last week trading fundamentals. So, I can understand why some are standing aside today.

If I remember correctly, how many did say "stick with the rules" last week.

Unless you know what you are doing, it would be safer to stick to 10.4 rules. You may have missed on some profits today, there will always be other opportunities.

You can never compare your results with Bob. Apart from being a great teacher, he is also a very experienced trader.

If you look at your charts carefully, you will see this is the area where most of yen pairs reversed last week , around 240ma.

It may yet do so again, so don't make the same mistake twice.

[Gertje]

If you look at your charts carefully, you will see this is the area where most of yen pairs reversed last week , around 240ma.

It may yet do so again, so don't make the same mistake twice.

I know I won't....

Am waiting for my funds to arrive. Until then limited trading only.
No problem to miss this month bond buying frenzy, there will be another one in 4 weeks.

[tommiho]

Why not to trade by the rules? The rules are there to not to let the market beat crap out of you!This whole tread is about learning people how to trade by the rules and by following them to trade successfully with steady wins small looses and draw dawns.
And re Bob`s trading, he mentioned more than few times that sometimes his trading is not exactly by the book (the JPY selling is another well known story), If I had his EXPERIENCE I would do the same. I don't have it ergo I am following rules that are designed to protect.

[tommiho]

If you look at your charts carefully, you will see this is the area where most of yen pairs reversed last week , around 240ma.

It may yet do so again, so don't make the same mistake twice.

I know I won't....

Am waiting for my funds to arrive. Until then limited trading only.
No problem to miss this month bond buying frenzy, there will be another one in 4 weeks.

What the heck dude? You were the inspiration, hope you will recover soon enough.

[fx800]

Why not to trade by the rules? The rules are there to not to let the market beat crap out of you!This whole tread is about learning people how to trade by the rules and by following them to trade successfully with steady wins small looses and draw dawns.
And re Bob`s trading, he mentioned more than few times that sometimes his trading is not exactly by the book (the JPY selling is another well known story), If I had his EXPERIENCE I would do the same. I don't have it ergo I am following rules that are designed to protect.

I quite agree. Don't beat yourself just because someone else makes a bunch, and you didn't. They have been round the blocks many times, and have learned to trade by their instincts which you can only acquire by being a trader for many years.

I know it is very confusing for newbies. Last week, some got hit by trading fundamentals, which was followed by a lot of soul searching, post mortem, self flagellation. This week, it seems as if all is forgotten. There is no doubt taking higher risk can give higher rewards, but it can also result in higer losses.

Below are GJ and EJ charts showing the zone of resistance around 240ma.

BTW, good luck to Bob and those of you who profit from your trades this am.

As many of you have experienced before, there are ample opportunities out there to trade by 10.4 rules and be consistently profitable.

[Gertje]

If you look at your charts carefully, you will see this is the area where most of yen pairs reversed last week , around 240ma.

It may yet do so again, so don't make the same mistake twice.

I know I won't....

Am waiting for my funds to arrive. Until then limited trading only.
No problem to miss this month bond buying frenzy, there will be another one in 4 weeks.

What the heck dude? You were the inspiration, hope you will recover soon enough.

I know I can.

I understood what Bob was talking about with the bond buying thingy, but stayed in the loosing JPY positions too long. DD appeared and I just bought extra, convinced it would rise soon.

Then the big drop came, and caused a MC on my account at the very bottom of the drop during the night from thursday-friday. If I look at the charts now, all would have closed with nice profits today.

I had the opportunity to close 2 baskets of trades [GBP- and EUR-] at BE on thursday, but stayed in aiming for more [GREED], and I had the opportunity to close EVERYTHING, therebye giving back the winnings of the previous week. I choose twice to stay in, and payed for that. The losses can be brought back, the lessons need to be cast in stone in my head.

Better safe than sorry....