10.6 EDSEL

[nanningbob]

Part 2 is actually funny in some sections.

Pictures of the Edsel.

[nanningbob]

Pictures of the dashboard with dummy lights and push button transmission on the wheel.

[trucomallica]

Looks like one for your future cars collection

[nanningbob]

Looks like one for your future cars collection

I tried once with a vehicle. Costs too much money. I had a Corsair Greenbriar Van 62 I think. Man it was like the movie MoneyPit. Not doing that again. LOL

[jago25]

Bob, how has been your trading with this system in december? are you still trying to get to BE on other trades or you think you will be able to trade as it were any other month to see how it behaves?

What does "EDSEL" means?

Gotta read the whole thread trucomallica; Bob's cut down and doesn't like to trade during Dec as it's been a bad month in the past for him


....

I never like the Close of a bar because (...)

^ This is why I want the ability to zoom fully in and out without jumping between timeframes and candles.

Forgive my ignorance but at 0.032 this is a 3pip spread not 32:
Some of these questions are so elementary I feel I should be paying for lessons.

[trucomallica]

Bob, how has been your trading with this system in december? are you still trying to get to BE on other trades or you think you will be able to trade as it were any other month to see how it behaves?

What does "EDSEL" means?

Gotta read the whole thread trucomallica; Bob's cut down and doesn't like to trade during Dec as it's been a bad month in the past for him


....

I never like the Close of a bar because (...)

^ This is why I want the ability to zoom fully in and out without jumping between timeframes and candles.

Forgive my ignorance but at 0.032 this is a 3pip spread not 32:
Some of these questions are so elementary I feel I should be paying for lessons.

Maybe you should read it more times because he said he could give the system a chance if december showed to be a good month for him, that's why I asked about it in comparison with other months.

[ezy]

I have two questions mainly for Bob:

1. Let's say a classic 10.4 pending order triggered. Hours later it's floating in a loss. SL is at the 240MA. When should one manually close the trade and move on?

2. Should we move the SL to BE in any situations or let's just leave it where it was originally?

Thank you

[SteveHopwood]

Here is the summary of my trading last week.

usdhkdh4.png

Only 154 pips (only - there will be struggling traders out there in the big beyond who have never heard of Bob and would kill for 154 pips in a week) but two great points to note:

• no losers.
• I only traded 3 days, so that is an average of 51 a day.

I am starting to use CSS a bit but basically what I do is this - trend trading only as the range stuff can wait for now:

• scan the H4 chart for trading conditions and where they exist, set up one of my helper EA's to monitor for the trigger. The trigger is usually:
  • a buy/sell stop on the other side of the DP.
  • a buy/sell stop on the other side of some recent support/resistance.
  • H4 stochastic to move correctly, or the H1 when there are two Dummy Light columns showing the same colour and the H4 stoch is clearly not going to retreat to 0/100.
• take profit 50
• stop loss 100
• break even at +30 locking in +5

A risk:reward ratio of 2:1 is usually considered a bad I idea. Either I am getting away with it because I am lucky, or because Bob has given me the tools that finally allow me to trade with the trend. I prefer the latter explanation. It is not often that a trade takes off immediately, and some of those eventual take profit trades were within hailing distance of my sl, but 100 pips seems sufficient to accommodate most retraces before the trend restarts.

Here is my summary for the three weeks I have been manually trading this live:

usdhkdh1.png

This would be even better had not some mis-coding in my helper EA's caused trades to close prematurely following a platform restart or EA reload.

I do not post all this to boast of my success - it is only 3 weeks, after all. Plus, the likes of Bob often make more pips in a day than I made in 3 weeks.

No, the point is to encourage all of you who are bruised and battered by your Forex trading experience. Don't think that I am a fabulous trader just because I run a fantastically successful forum. I am not. I put in the hard yards for years at FF coding EA's for free. That is where I gained my reputation and built up a following that allowed this place to initially survive and then flourish.

As a manual trader, I was rubbish. The point I am making is this: however useless a trader you think you are, if I can make 728 pips in three weeks then so can you.

Up an' at 'em, Tigers. Just with small lot sizes so your account can withstand a few hits, ok?

[trucomallica]

Nice run, Steve. Maybe at the begining of January you can add more pairs.

[SteveHopwood]

Nice run, Steve. Maybe at the begining of January you can add more pairs.

I am gradually adding them. Sometimes from my CSS read, sometimes in response to one of Bob's fundamentals posts.

Time was I would come across a system, load it onto 32 charts, lose track of where I was and retreat in despair following a few losses. Or a lot of losses.

Here I have taken the opposite approach. I started with the majors and GJ. I have added a few pairs as the three weeks passed.

Sorry if I have told this story before - actually I know I have but it does not impact on the strength of the lesson.

When I first started trading/losing-money in the Forex markets I happened across a thread entitled. "20 pips a day" or some such, at FF. At the time I thought, "20 pips a day? Get a grip. Only a moron is satisfied with 20 pips a day."

Seven years and several blown accounts later, I can confirm that had I made 20 pips a day from the start, then this forum would not exist. I didn't so it does, and arguably best for all of us involved.

Point is, slow and steady has its advantages when learning to trade Forex.