10.4 A Complete System

[nanningbob]

Hey Bob, glad to see you are back in Nanning with the school up and running. I haven't been following the forum much since we met up with you in Orlando back in July. I have been doing some trading on the original 10.4 over the last few weeks using H4 CSS as a guide to quickly pick pairs but got away from 10.5 as the CSS was too slow in this market as you mentioned. Like you, I have traded small, about broke even and lived to trade another day. I have downloaded everything you supplied on 10.6 and will begin working with it immediately. As many have mentioned, we appreciate all of your efforts in developing these systems and thank you for your comments and advice.

Actually I would like to be back in Florida with my kids and of course get some free dinners from traders taking me out. LOL I enjoyed our meeting very much.

[pg2205]

Hi Bob, on page 640, you pictured trade examples where STO gave us a number of short signals (STO crossing down from 80) but I noticed that price was above the 240 MA. Are these still valid signals to trade, or the rule of 240MA still told true?

[nanningbob]

Hi Bob, on page 640, you pictured trade examples where STO gave us a number of short signals (STO crossing down from 80) but I noticed that price was above the 240 MA. Are these still valid signals to trade, or the rule of 240MA still told true?

No I was just showing the effectiveness of the STO. Those would be CT trades if the 240 is flat you could take those. If price is trending strongly you wouldnt want to trade against the trend but if it is ranging those would be good trades. That is the beauty of this STO set up. It works in trending and ranging markets. Alan's Sto will not give you CT readings only trend readings. You will have to use my original STO 7 to get CT signals.

If you read the CSS and a currency pair is level and hanging around the 0 line you could look for CT trades and try to trade both ways. I closed my gbp/aud trade this morning playing the bounce off of the 100 line for over 50+ pips today. So that is an example of a CT trade. I almost always close my JPY trades 2-3 hours into the session because they are almost 100% guaranteed of retracing before the Euro session. Not always but most of the time. I found out I will get more pips closing now rather than seeing if they will run all day and maybe reentering after the retrace during the euro or usa sessions.

[fridayStreet]

I just dropped 10.6 on the USDCAD and it alerted me that "Stoch had just pushed up ABOVE 40". Is this correct? Maybe I missed something, but I thought the system was to look for buys when sto crosses down through 40/20 and sells when it crosses up through 60/80?

What do we do when it crosses up through 40? (or vice versa I guess)

Cheers

[nanningbob]

I just dropped 10.6 on the USDCAD and it alerted me that "Stoch had just pushed up ABOVE 40". Is this correct? Maybe I missed something, but I thought the system was to look for buys when sto crosses down through 40/20 and sells when it crosses up through 60/80?

What do we do when it crosses up through 40? (or vice versa I guess)

Cheers

Yes I took that trade. It alerts you to buys when it moves above 20 or 40 and it alerts you to sells when goes below 80 or 60. The DP is there and STO is moving up so I am taking that trade on the USD/CAD.

[fridayStreet]

oh ok so reverse to 10.4 RSI2 where we were waiting for it to be pinned in the opposite direction?

Not too late to get in on that now is it? I see the ideal entry was the last H4 candle as it crossed the DP. Also do you enter in realtime on a cross or do you wait for the bar to close across the level/DP/WP first?

Cheers

Update:

Are you looking at the CHFJPY as well? just had an alert on that too. Although CSS shows they could be slow.

for USDCAD I have a stop below the 60 MA on H4 as the other TF mas look a bit all over the place. Where did you put yours?

[TFL999]

oh ok so reverse to 10.4 RSI2 where we were waiting for it to be pinned in the opposite direction?

Not too late to get in on that now is it? I see the ideal entry was the last H4 candle as it crossed the DP. Also do you enter in realtime on a cross or do you wait for the bar to close across the level/DP/WP first?

Cheers

Update:

Are you looking at the CHFJPY as well? just had an alert on that too. Although CSS shows they could be slow.

for USDCAD I have a stop below the 60 MA on H4 as the other TF mas look a bit all over the place. Where did you put yours?

I took that trade on monday as well, but SL was hit last night. SL was set a bit tight. But I don't mind, I just re-entered the trade at a lower level.


Compared to the RSI2 there isn't really that much of a difference. You both will be looking for the buy when the RSI/STO is down. When it is going to move back up you will enter trade. (did I understand that correctly?)

The CHFJPY I just entered as well, have set a 2nd level at the WP. But I might just TP depending how the day will progress.

[nanningbob]

oh ok so reverse to 10.4 RSI2 where we were waiting for it to be pinned in the opposite direction?

Not too late to get in on that now is it? I see the ideal entry was the last H4 candle as it crossed the DP. Also do you enter in realtime on a cross or do you wait for the bar to close across the level/DP/WP first?

Cheers

Update:

Are you looking at the CHFJPY as well? just had an alert on that too. Although CSS shows they could be slow.

for USDCAD I have a stop below the 60 MA on H4 as the other TF mas look a bit all over the place. Where did you put yours?

I have never subscribed to the wait until the candle close theory. It makes no sense to me, it is like price is saying ahhhhh wait a minute boys we cant move until the minute hand hits 12. You go with price movement and price carries no watch.

chf/jpy I have the pending just above the blue line which is above the DP. So I let price clear both before entering.

[fridayStreet]

Hi Bob,

Just wanted to clarify on the chfjpy as my blue line is below the DP and the only blue line above it is well above it. see attached.

Cheers
Paul

2013-08-28_1758.png

[spotdespot]

It is just broker GMT offset differences Paul - you are probably on a GMT+2/3 broker - Bob's is GMT. I don't think any of the "fixes" for the difference ever really worked but I don't think it's a big deal personally. According to ActionForex the daily PP for CHFJPY is 106.04, Bob's will be a bit lower but it works so which is right? imo it doesn't matter.

Cheers,
Dave.