10.6 EDSEL

[Elixe]

Hi Pipstubborn,

I'll let Bob confirm but we only use the main line of the sto7, as the Ma method applies to the signal line this shouldn't make any difference.

[dvanderlinde]

These are my trades last night. Please comment on my entry's and exits.
First time trading this method, maybe I got lucky but I think I followed the rules.

Let me know what you all think, that would be appreciated

+279 pips total

[harry]

Hi Bob,

Excellent system...I am very newbie in forex and lost couple hundred dollars....I was loosing my confidence and some how with the help of Stephen, i have landed to your system....

I learned about it yesterday and i opened up 3 trades as per your rules in demo account. I made really good pips...

I have made in my first trade - TP 50 pips. In second one it came back from 47 pips and i was away from screen so i could not close it but i assume that i have made 47 because i could have closed manually... and in my last thread i was heading to TP and i closed when it was 25 pips because its demo account so it does not make any difference....

I would like to say thanks to Bob and Stephen for sending me to this thread...

I have one question though that i noticed that when the bar is green or red, after some times they transform in lighter color of green or red(this happens some times only) so is that mean anything...

let me know

Best regards
Harry

[beleidigtebw]

The reason I chose this chart is because it shows you many kinds of price action.
Week 1= sell bias range. The first bar will be red sometimes and goldenrod yellow at others. If price is between the 60 and 240 and price is below the 240 but higher than the 60 you will get a goldenrod color with the first bar. This shows you price is ranging or reversing. So now you need my definition of a range trade. The definition comes in two parts.
Definition 1:
If price is between the 60 MA and the 240 MA and price is below the 240 is will be an goldenrod color.
If price is between the 60 MA and the 240 MA and price is above the 240 is will be an olive color.
When you see these two colors it means price is ranging or reversing direction.

Here is a aud/usd DT that is coming to an end. The bar just turned goldenrod.

Hi Harry, it's here.. page 2

[nanningbob]

Hi Bob,

Excellent system...I am very newbie in forex and lost couple hundred dollars....I was loosing my confidence and some how with the help of Stephen, i have landed to your system....

I learned about it yesterday and i opened up 3 trades as per your rules in demo account. I made really good pips...

I have made in my first trade - TP 50 pips. In second one it came back from 47 pips and i was away from screen so i could not close it but i assume that i have made 47 because i could have closed manually... and in my last thread i was heading to TP and i closed when it was 25 pips because its demo account so it does not make any difference....

I would like to say thanks to Bob and Stephen for sending me to this thread...

I have one question though that i noticed that when the bar is green or red, after some times they transform in lighter color of green or red(this happens some times only) so is that mean anything...

Price is ranging or price is crossing and uncrossing the 240 line.
let me know

Best regards
Harry

If you are away from the screen get Steve's MPTM (multi-purpose trade manager). You can set it to bring your sl up to a profit point so you dont let a winner turn into a lose. For example at 20 pips it will move the SL to +5 and now you have a trade you never lose on.

One of my big rules of trading is:

DONT EVER LET A WINNER TURN INTO A LOSER.

[nanningbob]

Nice day yesterday as price broke out on several currencies. Since I have so used to price not trending I close too many trades early but you cant complain about profit. I see we have some new guys here, just to let you know I am a singles hitter trader and seldom go for the big run. I feel I lose more trades by trying to let trades run too much than to just pocket the profit and put it in the bank. My average pip profit is only +28 for 2013 so I am not afraid to close out winners. I will explain my reasoning this weekend when I post my take profit theories. For some of you this will be a surprise, to others they have heard it before.

[nanningbob]

Hi Bob, I notice that all your MA are linear weighed but the STO 7 is smoothed instead of linear weighed.
Is this correct? I will apreciate a little insight full. As always I'm very thankfull for your work and teahings.

Linear weighted gives you the fastest response, smoothed gives you the slowest response. Smooth words best on off the chart indies so they dont give too early a signal. Linear works best on the chart because they respond to price action the quickest. The combination gives a good balance between warning a change is taking place and waiting for price to move first before you enter into the fray.

[nanningbob]

These are my trades last night. Please comment on my entry's and exits.
First time trading this method, maybe I got lucky but I think I followed the rules.

Let me know what you all think, that would be appreciated

+279 pips total

Fun wasnt it.

[nanningbob]

It is very possible that many of yesterday's strong moves will not move back inside the daily open so you look for 10.6 trades. Double green bars here we come.

[nanningbob]

Here is the eur/jpy 1H. We are looking for the STO7 to move back down under the 20 bar and/or the 15MA line so we can have a 10.6 trade. We can look to re-enter the strong trend. There are several currencies that look like this.

What is cool about the system is you know that price will do this and either continue the trend or reverse back into a range. If it doesnt go back into the trend you know your trade is in trouble if it doesnt go above the 15 MA and stay there. If you enter and it goes above the 15 MA but doesnt stay, you go oops trend not continuing. If it does you are in.

Your best entrances later today probably will be the xxx.050 dotted line or the crossing back up the 15 MA after it retreats back under. You are predicting the future of price action and waiting for it to happen. If it does great, if it doesnt you arent in. You also know it will probably do this during the EURO session or even as late as the USA session but with the overlap of the afternoon JPY session with the morning of the Euro session that is your best chance or most likely chance when that move will start or happen.