How to Trade 10.x Like a Boss

[nicoacademia]

On the UsdJpy, according to Jem's framework, it was pinned on the top, which was the reason for the short.

According to my rules it's best if price retraces to a pivot/support/resistance before shorting. You can take anything else but it's not an A grade setup.

" Rule 1. Wait for a decent retracement. Best setup is when price has retraced to a pivot or support (WP, WS1, WS2, MS1, MS2)"

Now's the time to look for a short on USDJPY:

UDSJPY.png

stake out 3 days for this shit. LOL.

[McNish]

On days like today when there no 10.4 options, you definitely start looking for new options.

Hello All,
have been following discussion here. i think what's stated is the cause, no 10x action thus look elsewhere. People, how many times are we going to repeat the same things over & over & over again. What people like Bob or Jem or CJ or a whole lot others do is not second guess the market but stick to their study or experience or whatever one might want to call it. We saw when the yen strengthened, Bob was still bearish on it and i think still is. He might have lost a few pips here & there for it but he stuck to it & my guess is he'll stick to it unless convinced otherwise. Same with so many other on the forum, they stick to it unless they're convinced otherwise.

The Market is currently playing a different tune than it was for the first half of the yr. Would it not be better or wise for us meager folks to wait for the drum rolls to play for some more time thus we get familiar with it and then play our cards out carefully? Every time the market has a mood swing, a lot of us, including myself, start to look for things and conjuring up images to feed our insatiable ego, only to realise at a later time that we have been fooled, once again.

There are / would be a whole bunch of other system that would sometimes give the exact opposite trades to 10x and even then, both of them would yield pips in favour. It is what we make of any system in consistency over the long run rather than being lead by a few random lines or indis or market mood swings. i'm in no way implying that we do not try & test different stuff but i feel the tone of discussion now is starting to look for stuff by changing things that have worked rather well for us in the past. When i get this feel, i feel sorry for the person / people who have given their time and resources for the system they have tuned and shared.

So don't let market swings scare us away from something that has been given a lot of test of time (Bob's development of 10X is not overnight but over the years). Discipline and patience are the other two qualities required for success in this line of trade, rather any line of trade i think. So we ought to build them first instead of building or following any system.

Cheers,

[Ingot54]

Hello All,
Have been following discussion here. i think what's stated is the cause, no 10x action thus look elsewhere. People, how many times are we going to repeat the same things over & over & over again. What people like Bob or Jem or CJ or a whole lot others do is not second guess the market but stick to their study or experience or whatever one might want to call it. We saw when the yen strengthened, Bob was still bearish on it and i think still is. He might have lost a few pips here & there for it but he stuck to it & my guess is he'll stick to it unless convinced otherwise. Same with so many other on the forum, they stick to it unless they're convinced otherwise.

The Market is currently playing a different tune than it was for the first half of the yr. Would it not be better or wise for us meager folks to wait for the drum rolls to play for some more time thus we get familiar with it and then play our cards out carefully? Every time the market has a mood swing, a lot of us, including myself, start to look for things and conjuring up images to feed our insatiable ego, only to realise at a later time that we have been fooled, once again.

There are / would be a whole bunch of other system that would sometimes give the exact opposite trades to 10x and even then, both of them would yield pips in favour. It is what we make of any system in consistency over the long run rather than being lead by a few random lines or indis or market mood swings. i'm in no way implying that we do not try & test different stuff but i feel the tone of discussion now is starting to look for stuff by changing things that have worked rather well for us in the past. When i get this feel, i feel sorry for the person / people who have given their time and resources for the system they have tuned and shared.

So don't let market swings scare us away from something that has been given a lot of test of time (Bob's development of 10X is not overnight but over the years). Discipline and patience are the other two qualities required for success in this line of trade, rather any line of trade i think. So we ought to build them first instead of building or following any system.

Cheers,

Well said, McNish.

[Jemook]

Yep - you don't need to trade every day. Whoever can wait patiently for the best setups with this system will get the best out of it. Trust me even I'm learning myself - last night I jumped into a few xxxJPY shorts prematurely and could have saved myself a couple of losses. I'm back in them now after they've reached the WP and I feel a lot more comfortable about them.

Here's some open trades:

opentrades.png

J

[MrLong]

Yep - you don't need to trade every day. Whoever can wait patiently for the best setups with this system will get the best out of it. Trust me even I'm learning myself - last night I jumped into a few xxxJPY shorts prematurely and could have saved myself a couple of losses. I'm back in them now after they've reached the WP and I feel a lot more comfortable about them.

Here's some open trades:

opentrades.png

J

That's the beauty of an EA, it only take's the trades when all the conditions are correct, it's then the traders job to manage the trades.

Andy

[profuse]

Thanks Ivan!

I'll try this link of your's

I was wondering though, if the constant trying of the program to find and use a file that is not in Zip file wouldn't be a problem for the use of this, frustrating the calculations....? (I'm no expert in this at all) http://screencast.com/t/3CNXt9PJ

Regards,
Ben

[pips400]

Okay, so in this apparantly flat week and we're all taking time to read forums, check our trading strategies etc, there's a lot of good that can result, but like others have said, this is not the time to doubt the edge, every edge works given the right conditions but we have to understand market conditions and use the right tools to get the job done. The edge is the smaller part of successful trading, it's our understanding, discipline and ability that makes the difference. So I've taken a fresh look at Jem's adaptation of 10.X and have been surprised by what I've missed this week. I think it's because the smaller 1H time frame is more suited to the kind of conditions we've had of late, and though I've missed a lot of these because I was on 4H, I am really encouraged to see that Jem's method still works great even in such normally difficult market conditions. Using the following rules, I went through all 28 pairs and backtested Monday and Tuesday, and have posted the results here. The pip count is estimated and doesn't include spread, the point I'm making isn't the pips but the opportunities to trade.

Rules (very similar to Jem)
1. Above 240 (960 ma 1H) buy, opposite sell
2. Use WP, for long price below WP, short above
3. Place trade on CSS change to green for long, red for short
4. Close either on WR1/WS1 reached or ignore pivot and just close on CSS colour change
5. With the RSI2 TMA H4 I'm flexible with this one, so long as I've seen it pinned recently then I'm good to go.

The results are as follows

gbpnzd1.jpg

gbpchf1.jpg

gbpcad1.jpg

gbpaud1.jpg

eurnzd1.jpg

eurgbp1.jpg

eurchf1.jpg

eurcad1.jpg

euraud1.jpg

cadchf1.jpg

audusd1.jpg

audnzd1.jpg

audjpy1.jpg

audchf1.jpg

audcad1.jpg

AUDCAD 30
AUDCHF 171
AUDJPY 30
AUDNZD 50
AUDUSD 110
CADCHF 40
CADJPY
CHFJPY
EURAUD 210
EURCAD 40
EURCHF -40
EURGBP 64
EURJPY
EURNZD 180
EURUSD
GBPAUD 150
GBPCAD -20
GBPCHF 110
GBPJPY
GBPNZD 180
GBPUSD -30
NZDCAD 60
NZDCHF 110
NZDJPY 60
NZDUSD 60
USDCAD
USDCHF -20
USDJPY

Total pips 1545

I'll post the other charts in the next post ........

[pips400]

Here's the rest of the charts

usdchf1.jpg

nzdusd1.jpg

nzdjpy1.jpg

nzdchf1.jpg

nzdcad1.jpg

gbpusd1.jpg

So what I've learnt this week is 1. Even with 10.X there are trades available 2. In a tight ranging market drop down to 1H and trade Jem style

Pips400

P.S. For those that are not aware, Steve's been working on a script to trade and close on the CSS colour change see http://www.stevehopwoodforex.com/phpBB3 ... =37&t=1492

[thomasmore]

So what I've learnt this week is 1. Even with 10.X there are trades available 2. In a tight ranging market drop down to 1H and trade Jem style

Very nice analysis! It proves that the method is working in every market.

[Jemook]

Thanks for that pip400.. Something is almost always moving

J