10.4 A Complete System

[andygrope]

Hi.
I am getting bamboozled by the huge no. of different moving averages used by everybody to determine a trend and as in Bob's system when to go short or long.
Does everybody find the 240 for H4 and 40 for day charts a good indicator.
Anybody know a good discussion area on the use of different moving averages for different time frames?
All help appreciated.
The 30, 50, 100 described above looks worth a try.
Anybody used these over a period and if so, if they are not runnung parallel does it mean absolutely no trade or how are they used?
Cheers

[will80]

Zentauro - I think you miss fairly large parts of moves by including too many MA's into the picture. If you work off the 240MA, and the 60MA and use basic price action around S/R areas you have pretty solid trades if the RSI2 is supporting your trend and direction.

Right now the XXXJPY pairs seem to be lining up to go long, but I am watching the CSS chart closely as the JPY is currently very bullish on the H4 CSS - need to wait and see if there is a rejection on the zero line and look again for supporting price action and S/R lines on each pair.

[Ingot54]

I am getting bamboozled by the huge no. of different moving averages used by everybody to determine a trend and as in Bob's system when to go short or long.

Yeah ... me too ... I didn't see this in the 10.4 strategy, and wondering why so many are second-guessing the strategy. This is getting more like Forex Factory every day. Of course it is bamboozling.

Does everybody find the 240 for H4 and 40 for day charts a good indicator.
Anybody know a good discussion area on the use of different moving averages for different time frames?
All help appreciated.

The best help I can give you is the advice to leave the strategy alone - don't try to add more MA's to a great strategy. Bob has already outlined the system MA's, and why, and given example after example of how to trade the system.

The 30, 50, 100 described above looks worth a try.
Anybody used these over a period and if so, if they are not running parallel does it mean absolutely no trade or how are they used?

Like any Moving Average! Why not put another three or four ... or five on there for good measure? :!:

Look - the 10.4 is N-O-T a strategy that uses MA crossings to determine trend, and find trades.
It is NOT a MA crossover strategy ... you are fishing in the wrong pond. It uses the MONTHLY 2 LWMA to tell us which bias to trade ... long/short. Period.

The 10.4 uses Rsi2, pivots and the Monthly 2 LWMA transcribed into the relevant MA on associated TF.

What is going on in this thread lately is amazing ... did anyone actually read Bob's strategy ... learn it ... try it ... before tinkering it to death?

Why not just trade the thing ootb (out of the box) and be happy that you already have the best strategy available that is indicator-based ... bar none.

Try to stay on topic, or start a new thread to tinker to your hearts content. In fact there are already threads you can use for a playground with the 10.4.

Please do not adulterate the thread with heaps of add-ons that have nothing to do with the strategy. The strategy is fine as it is.

EDIT: Sorry to come over a bit cross about this, but the suggestions sound like a "desperate times prop-up" when all that is needed is an understanding of the strategy. The strategy is NOT broken.

[nanningbob]

Hi guys. I have been enjoying myself immensely. Not trading much, kind of put it away and just enjoying family. went to the movies with my daughter. The official version and explanation is page 1 post 1. I did mention a 10.4 simple for those who cant use the CSS. My laptop we have with us simply cant handle the CSS on every page so I decided to try following the 2 MA on the weekly also. That translates to the 60 on the 4H.

The problem is practically every currency is ranging right now with an occasional breakout now and then. People who use range trading techniques will do very well right now. Trending systems will struggle. However if you are a bit more choosy during range times 10.4 still works. It is one of the very few systems that works in both kinds of markets but it wont work as well in range times. I think I said this earlier you will do better trading line to line during ranage times than trying to use multiple trades like we do when currencies are trending.

Anyway, tomorrow is Universal Studios with my daughter and her boyfriend after lunch with an old friend. Wednesday will be quite busy and then the big day is Thursday when my daughter's boyfriend gets a pitching tryout with the Atlanta Braves. We are all excited for the opportunity to watch. I have never been to a tryout before so that will be my first. Anyway I will be back in China in two weeks and see what is up then. Looks like more ranging with an occasional breakout now and then. USA economy is trying to improve, Japan has improved, NZ and AUD hopefully will settle into a new range, and China will not have a big dip. Europe seems to be sitting on a edge but that has been like that for several years now. I think they are starting to get a handle on how to handle the mess but it will be tricky. I would prefer the markets settle and the banking czars go back to sitting in the background smoking their cigars. Stick with the basics.

[nanningbob]

I hope Bob is enjoying his vacation. I just want to thank him for sharing his system. I don't trade exactly like he does - I limit my trades to only what I consider the best set ups. I usually trade maybe 1 or 2 pairs. I do keep my lot sizes small to withstand any drawdown or losses. I have been trading live for 5 months - have made 161 trades with 102 wins, 36 losses & 18 scratches. my account has increased by about 10% - I know - not getting rich here like the guys over on CJ's thread but I am ok with it - I figure I am in it for the long haul and hopefully will get better and am definitely not figuring out my hourly rate - but I don't figure out my hourly rate out in my garden either. I guess I am a true loser! LOL!!! BUT I am having FUN!!!!

10% was my first goal in trading. The big hedge funds the very best guys do 25-35% for the year. Sometimes there is an occasional super star but they cant keep it up long term. If you kept your pace up for the year you could end up around 25% for the year. There would be a lot of people who would give you their money to trade if you could develop a track record over time. In the USA brokers have to report how many are profitable. Depending on the broker that can range from 20-40% in any one month. Of that group maybe 5-10% make more than 10%. So you are already in an elite group of people who can profit in Forex. Now it is just getting experience to get to that top 5%. Good luck and keep plugging away and learning. You will get there.

[rosst]

Thank you for the encouraging words! It sounds so cool to be able to see that try out! Glad you are having fun! I guess you can call me grasshopper

[kundanketki]

Placed Buystop on this pair post formation of 2 Bullish Pin Bars on H4.

Comments pls.

Thanks

Kundan

[art]

looks ok to me kundanketki, cad retail sales later today though, need to watch that, like bob i have been away and just moved back to London so trying to ease back into doing some trades, but as bob as said everything is ranging, typical summertime conditions

[zentauro67]

Placed Buystop on this pair post formation of 2 Bullish Pin Bars on H4.

Comments pls.

Thanks

Kundan

Great trade! Sometimes is good an early entry. I should trail the profits. Big resistance coming.

[art]

i took 25 pips on eurjpy this morning, in and out, in this market