10.4 A Complete System

[nanningbob]

What are your take on the so called tapering BOB?

It is obviously something that will affect USD denominated pairs a lot if it happens in september.

Right now just a bunch of hype. It is like trying to pic tops and bottoms of a move. QE3 is buying mortgages to support the real estate industry. The money is not in circulation. It is meant to get the real estate-construction industry back on its feet. That will lower unemployment and settle real estate prices. It is beginning to work so I think it is a good plan. When real estate prices rebound the govt. can sell back the mortgages on the open market over many years and get some if not all its money back. If it applies the sales to the deficit then the money never hits the economy and you wont get inflation from QE3. If it plugs the money back into govt. spending then you will have some serious inflation. I support the concept if we pay down the deficit when the money comes back in, it is a bad concept if the returning money is plowed into spending. I give you one guess what the politicians will do with the money.

Basically the govt. is the only institution that can sit on a pile of bad mortgages over a period of years and wait for the market to catch up to over inflated housing housing prices. No bank or loan company can do that and remain profitable. The govt. can take a 30% write off by letting long term inflation make up the difference. Plus we tax payers can pay the bill over long term. Our WW2 debt took about 40-50 years to pay off. So I understand the concept of what they are trying to do but have no confidence in politicians to stick to a plan that takes 30 years to pay off.

Back to your question, it is just a bunch of hype and will give traders an excuse to make the market jump all over the place for a couple of days.

[peranders]

What are your take on the so called tapering BOB?

It is obviously something that will affect USD denominated pairs a lot if it happens in september.

Right now just a bunch of hype. It is like trying to pic tops and bottoms of a move. QE3 is buying mortgages to support the real estate industry. The money is not in circulation. It is meant to get the real estate-construction industry back on its feet. That will lower unemployment and settle real estate prices. It is beginning to work so I think it is a good plan. When real estate prices rebound the govt. can sell back the mortgages on the open market over many years and get some if not all its money back. If it applies the sales to the deficit then the money never hits the economy and you wont get inflation from QE3. If it plugs the money back into govt. spending then you will have some serious inflation. I support the concept if we pay down the deficit when the money comes back in, it is a bad concept if the returning money is plowed into spending. I give you one guess what the politicians will do with the money.

Basically the govt. is the only institution that can sit on a pile of bad mortgages over a period of years and wait for the market to catch up to over inflated housing housing prices. No bank or loan company can do that and remain profitable. The govt. can take a 30% write off by letting long term inflation make up the difference. Plus we tax payers can pay the bill over long term. Our WW2 debt took about 40-50 years to pay off. So I understand the concept of what they are trying to do but have no confidence in politicians to stick to a plan that takes 30 years to pay off.

Back to your question, it is just a bunch of hype and will give traders an excuse to make the market jump all over the place for a couple of days.

Thanks.
Politicians will always do what they do best and that is spend or put other peoples money in their pockets.

[nanningbob]

OK TEST VERSION 10.6

I have changed quite a bit but the basics are still there. I eliminated CSS on daily charts, rsi2 and added a STO warning system. This should be very computer friendly and a lot less load. Entrances are very specific bringing the DP back in from 10.3. I added how to CT in certain situations. The big change is I got rid of the Empty4 grid system and added 100 lines. Amazing what you see on a daily chart with 100 lines and getting rid of grid numbers that Empty4 uses. This should work for trending and ranging markets. I used ranging markets for my illustrations.

SL TP EAs AND SCRIPTS ARE ON PAGE 636

[nanningbob]

I am amazed at how often on all pairs the xxx.00 lines are honored.

[nanningbob]

usd cad

[nanningbob]

I have traded this system live for 7 days. I average increasing my account by 1.2% a day. That is trading four pennies per lot for every 1000 dollars of my account. If you compare that with the 10 cents per account I was trading the JPY move in April and May that would come to 2.5% a day and would equal my 50% a month average I did then. I would say that is remarkable since the markets are not moving anywhere near as much as they were then. Of course that is not a big enough sample size but it does give the potential of what it can do.

[SteveHopwood]

Nice one Bob. I will include a link in my roundup on Sunday night.

[mobthehop]

Thanks NB!

[Ingot54]

Great innovation Bob.

Thanks heaps.

[nanningbob]

Here are the EAs and scripts for entering and exiting 10.6. The scripts set a TP and SL on the server. The MA EA will close EVERYTHING on the chart it is put on so be careful when if you have multiple trades. Also the lines change when going from TF to TF so if you switch to 1H TF and the EA is on you may close your trade. The EA are not fully tested so please test to see if they work first. They will work on any TF. The TP are set at 81 and 45 and SL at 100. I know that is not a good ratio but the ratio is established by the MA. What the MA do is provide a trailing stop based on movement of a MA. You can play it tight or loose. The lower the TF the tighter the SL and TP will be, the higher the TF the more room you are giving the trade. Range periods like this summer you may want to use tighter SL TP. If a currency is strong on the CSS you may want to be looser with the TP SL. Any way have fun.

REMEMBER IF YOU LOSE INTERNET CONNECTION THE EA WILL NOT WORK THAT IS WHY I HAVE THE SCRIPTS PUT A SL AND TP ON THE SERVER.
EA ARE NOT HARD CODED BUT WILL WORK ON ANY TF. TURN EA BUTTON OFF FIRST IF YOU HAVE LIVE TRADES AND WANT TO LOOK AT OTHER TF.
FINALLY SET UP YOUR PENDING TRADES AND THEN PUT THE TP/SL EA THAT YOU WANT TO USE AND TF YOU WANT TO USE. TURN THE EA BUTTON ON AND WALK AWAY. IT WILL ENTER THE TRADE OFF OF THE PENDING TRADE AND CLOSE THE TRADE FOR LOSS OR PROFIT AT THE MA LINE.