10.4 A Complete System

[art]

yen just starting to turn up on the daily css, my open yen trades have spiked

[nanningbob]

Boy is this FOMC being hyped up. It will cause something that is for sure. Should be fun.

[nicoacademia]

it's like the overused story of the last 2-3months.

it should be ballistic.

[SteveHopwood]

The power of a distant stop loss allied with small lot sizes:

gbpjpyh4.png

Ok, so no guarantee that this will not turn into a loser eventually. You can see the green arrow that marks where the pending filled - also the dashed turquoise line that marks the opening price. You would have to zoom in to see the dotted red stop loss line just underneath the WP (I have a trade manager monitoring all this) and the 'hard' stop well below that.

Big spike inspired by news but not enough to take out the trade. Then the spike reversal. Trade currently in profit, just.

[blazko]

I'm not really sure if I traded by the rules at 100% but it was a good day after all

Thank you Bob.

[pg2205]

The power of a distant stop loss allied with small lot sizes:

gbpjpyh4.png

Ok, so no guarantee that this will not turn into a loser eventually. You can see the green arrow that marks where the pending filled - also the dashed turquoise line that marks the opening price. You would have to zoom in to see the dotted red stop loss line just underneath the WP (I have a trade manager monitoring all this) and the 'hard' stop well below that.

Big spike inspired by news but not enough to take out the trade. Then the spike reversal. Trade currently in profit, just.

Hi Steve, I thought with the FOMC news release you would trade a XXX/USD pair instead of a XXX/JPY pair, seems to have better movement with USD pairs.

[nanningbob]

Decent moves last night. I would like to brag my system predicted that but I know better. If the Big B had said we are slowing down then the moves would have gone the other way and everyone could talked about how lousy my system was. The truth being no system predicts the news. OK Another trading day. I went with the news consensus that USD was going to taper so only one trade took for a loss. Since nothing happened or changed in the basic fundamentals everything will go back to normal in a day or two. I will try to catch some retracements at some point. If you were selling USD last night you probably are jumping up and down hollering HOORAY. If you were like me and had pending buys........... its oh well another trading day. If you set some buys ................ I can hear you cussing all the way to China. I have to go to work.

[tibochina]

This went against almost all predictions. QE is going to be increasingly hard to get out of I'm afraid. Had same scenario you did. No system can predict what any of these blah,blah.blah guys are going to say and sometimes even more importantly, how it will be interpreted. As you say tomorrow is another trading day........

[nanningbob]

I understand why we did QE3. Prop up the real estate market so it can recover. Buy mortgage paper and hang onto it for several years and then slowly sell it back into the market. I get it. It worked, now they want it to solve unemployment, economic ills, create jobs, etc. It wont do that. We need a business plan not a finance plan. Now we will have another huge bubble go boom. It almost makes me sick. We had such a great country and we were working our way out of this mess but it is not because of the decision makers in Washington. I dont know how much more our great economy can take of this stuff. The fix is not that difficult.

Cut the budget, invest in business startups, produce assets instead of debt. Instead we got a Congress that thinks fighting for ......................... oh crap whats the use. Sad really. I am ready to become a full fledged Libertarian/Anarchist. LOL

[shellsnail]

I avoided the USD pairs and traded JPY pairs instead as many of them were setting up for cookie-cutter 10.6 trades. Pretty rocky when the announcement hit but I'm glad at least 2/3 trades turned out favourably.