10.4 A Complete System

[nanningbob]

bob,

AUDJPY

where would you place your short order on this one?
below the pivot or higher somewhere or not at all?

At the break of the trendline if you were going to play it or the DP or 60 MA. I would look back for a previous DP that was around that area and place it there.

[nanningbob]

Well, acceptable week. I am $1.70 short of 2 1/2% of my account growth. If it wasn't for 3-1% losses I would have had a really nice week. But that is the way trading goes. So far I like the dummy lights. Driving my Edsel down Forex Freeway. I liked the 1957 red convertible.

[nanningbob]

Edsel Ford personal sports cars. As the only son of Henry Ford he was the CEO of Ford Motor Company until his death in 1947. He was innovative for his time. As a tribute to him Ford came out with the Edsel brand name but it lasted less than 4 years.

[nanningbob]

Here is what the dashboard looked liked. Classy. So yes we have a dashboard for the Edsel.

[tommiho]

Hi Bob,
just a quick one, if you set a SL on 60MA, which is now tighter than to 240MA, would you let it to be hit?
Thanks

[nanningbob]

Hi Bob,
just a quick one, if you set a SL on 60MA, which is now tighter than to 240MA, would you let it to be hit?
Thanks

Depends on how I read the market. I did some boo boos this week. I didnt expect these guys to really derail the USA economy and govt. but these dimwits are on a train wreck. We will see how it goes.

[Nidolap]

Well, I started the week really nice but the change in direction in AUD,NZD and CHF,EUR,GBP made me give back some of my profit, been up almost 10% and ended with 3%.

I guess I can improve my performance if I don't let the winning trades turn into losses...something I am fighting on my daily schedule.

A great weekend for you all!

[TFL999]

Well, I started the week really nice but the change in direction in AUD,NZD and CHF,EUR,GBP made me give back some of my profit, been up almost 10% and ended with 3%.

I guess I can improve my performance if I don't let the winning trades turn into losses...something I am fighting on my daily schedule.

A great weekend for you all!

I have done that as well too often. Think that it might continue it's run and then it reverses. Most times I set the SL to break even then, but still no gains then. And I had a 1% SL on the AUDUSD over night. It just took my trade and then reversed on monday to tuesday night.

But afterall a 4% week.

Thanks Bob for all the great work!

[cmeade2]

What's so ridiculous is that if they had a straight up vote on a clean funding bill (no riders) it would pass the House with all the Democrats and about 20 Republicans. But unfortunately, Boehner won't let the Bill come up for a vote because he only will allow votes on Bills that have a majority of Republican support.

Hi Bob,
just a quick one, if you set a SL on 60MA, which is now tighter than to 240MA, would you let it to be hit?
Thanks

Depends on how I read the market. I did some boo boos this week. I didnt expect these guys to really derail the USA economy and govt. but these dimwits are on a train wreck. We will see how it goes.

[pg2205]

Hi,

My first post here so please excuse the fact it's a question and not a contribution.....

I've been working with this system for a little while now and so far, it's great! I feel I've grasped the basics of it from reading through the posts but I just want some clarity / thoughts on the use of the MA's on the H1 charts. When the price is ranging or between the MA's on the H4, I often move to the H1. My question is, do you think the period of the MA lines on the H1 charts should be changed so that the lines are in the same place as on the H4 charts? ie: instead of having a 240 and a 60, we'd have a 960 and a 240 but they'd be in the same place relative to price as those on the H4. That way, when price is above, below or ranging, it would be the same on both timeframes.

Would be great to hear your thoughts on this.

All you have to do is add the 960, that would be the only change. I like using the 60 because it gives me a good marker to re-enter the trend when using the 1H chart. On the chart below I am showing how you can use the 60 and STO7 to mark good entrance points on the 1H chart. When they all agree:

1. Daily Pivot
2. 1H 60 MA
3. STO 7

You have the makings of a good trade. In the last 5 days there were 5 positive trades. Green lines are separating each day of the week.

Hi Bob

When waiting for STO signals (as per the above example), do you only use the STO signals that come from 100 down then 80? Or anything from 80 down? Hope I've explained myself clearly.

Cheers

?????? HUH ????? Then why do I give another signal at 60? And why would I write that the majority of the move is often below the 20 line???

sorry Bob, my misinterpretation.

well I had a fairly good week, up just over 2%.
Lost on this trade though with the EUR/NZD.
At the time, my CSS showed EUR up, NZD down.
So buy EUR/NZD.

EUR/NZD chart attached showed we where in a range.
STO7 was up (vertical lime line)
price went past 1.6400 so it was a buy (horizontal red line)
SL was at the end of the last bullish candle (horizontal yellow line).

Price took out my SL, which also happened to be at a xx.00 line.

Have a good weekend all.