10.4 A Complete System

[Wobstix]

Awesome.
Will be looking out for it.
Thank you.
Glad to know that you're all safe.
Rob

[krooza]

2. At the bottom of the chart is the stochastic oscillator set at 7 (STO7). When it rises and crosses the 80 line and also at the 60 line it will give you a signal letting you know a potential trade set up is happening. When this happens you can then look at the chart and decide whether or not to take the trade.

I know you've just started the new 10.6 thread, but shouldn't point 2 be "When it rises and crosses the 20 line"?

[nanningbob]

2. At the bottom of the chart is the stochastic oscillator set at 7 (STO7). When it rises and crosses the 80 line and also at the 60 line it will give you a signal letting you know a potential trade set up is happening. When this happens you can then look at the chart and decide whether or not to take the trade.

I know you've just started the new 10.6 thread, but shouldn't point 2 be "When it rises and crosses the 20 line"?

That is why I need eagle eyes like you for. Thanks for the catch.

[garyfritz]

I just noticed, Bob -- this thread just passed 250,000 views! You have a very devoted following!

[Skyline]

Hi all, thx to Bob for this system, I'm still studying it, let see if I understand right with a live example on AUDUSD....

In H4 chart I see two red bar and sto7 is low so there is no entry as per 10.4 so I have to switch to H1 and see sto7 just crossed from above the 80 line , so i guess even if price is below daily pivot this is a sell signal as per 10.6 , is that right ?

AUDUSD H4

audusd_h4.jpg

AUDUSD H1

audusd_h1.jpg

Cheers,
Skyline

[art]

that looks correct skyline, the trouble is its right down the bottom, and i get a bit jittery when the currency is at its extreme, and it has bounced, but bob will hopefully comment

[art]

i got stung today i went short eurusd, and as you can see it bounced up took out my stop, i had a 50 pip stop, i dont think thats enough on the 4 hour time frame i think bob advocates about 100 pips, also another mistake is chasing the trade, the euro shot down past the DP i jumped in and it reversed took me out, maybe some comments, apart from calling me a plonker

[nanningbob]

Hi all, thx to Bob for this system, I'm still studying it, let see if I understand right with a live example on AUDUSD....

In H4 chart I see two red bar and sto7 is low so there is no entry as per 10.4 so I have to switch to H1 and see sto7 just crossed from above the 80 line , so i guess even if price is below daily pivot this is a sell signal as per 10.6 , is that right ?

AUDUSD H4

audusd_h4.jpg

AUDUSD H1

audusd_h1.jpg

Cheers,
Skyline

Yes and if you used the xxx.00 line it moved about 20 pips. Not much of a move but still moved into profit. It then went back up for another run of about 10 and then finally back above the pivot line. Depending on how you played it, it was a small profit or a loser.

This is one reason why I profit each session and try to stay away from hanging onto trades until they become losers. If 10 pips is all I get then I take it.

[nanningbob]

The aud/usd now shows a standard a possible 10.4 trade and I will look to see if it makes a double bottom or goes into a 1,2,3 swing trade reversal. I will enter another sell at the STO7 signal. It also could continue into the trend since the move has not made the end of trend run mark yet. I will be posting on my 10.6 thread how you can know a run is over. There is a specific sign to look for.

[Staedtler]

i'm lovin this simplified style you setup for your system. very cool man !