10.6 EDSEL

[lionsden]

fxsteen,

Welcome. If you search this thread you will find that Nanningbob has a full time job and only trades at particular times due to his work load and responsibilities. I have copied his daily routine as he has posted in this thread earlier to help. Good Luck:

His input below:

I take profits when I see them and I usually take them some place near the middle
of a session. Price will hit its Zenith 2-4 hours into a session and then retrace. My
trading day looks like this during EST USA

1st time daylight savings time 2nd time standard time
6 PM-7pm (6am in China) get up and prepare for Asian session. Set up trades.
Take profits on AUD/NZD Open--USA close sessions
10PM-11PM My first break at school, children go to recess and snack time Take my
Asian profits.
2AM-3AM last break at school set up for the Euro session Sometimes JPY
afternoon session will show some profits.
5-7 or 6-8 AM (5-7 PM China time) Eat supper and take Euro session profits set up
trades for USA session.

10-12 AM Ready for bed Take profits for USA session and set up overnight trades.

6-8 hours of sleep and start all over again. This schedule allows me to trade all the
sessions yet does not interfere with my job or family life. 5-15 minutes for set up
time.

I take notes of the CSS for the day. Look for my best trades, always do some
what the heck trades. decide which ones to keep and which ones to let run. Read
the news, study financial news from people who do not trade Forex, especially
listen to John Maudin (he is my favorite) and whatever central bankers are saying.
When those guys speak the markets move now more than straight financial
fundamentals.

That is my day. Time for breakfast.

[fxsteen]

Wow, thanks for that info. That is a tuff west coast schedule. That's the hardest part of this system for me so far. I am trying to figure out if my schedule will allow something like that or if I need to try something that allows be too only watch the market once maybe twice daily. Anyone out there with a west coast schedule that works with a job and allows sleep?

[nanningbob]

10.4 has them on every chart. You can go there to get the CSS for every chart. But know it will hog a fair amount of computer RAM.

[zentauro67]

Trendlines on CSS also help to understand price action. They are always broken for a reason.

This is AUD CSS Daily. 18th December the trendline was clearly broken.

Imagen 1.jpg

Watching AUDUSD on the chart (as USD it´s the most influent cross for any currency), we can see a perfect doble bottom holding the price to the pip. As the candle couldn´t close that day below the previous low (29th July) a little bottom action started broking the trendline on the CSS chart. That shows how powerful is the cross with USD. Sometimes it looks as if the dollar had more weight and intent than the rest of the other currencies together.

Imagen 001.jpg

Well, maybe there was a more prosaic reason for the trendline being broken. There was no more space in the chart to continue going south!

[fx800]

My yen shorts became unstuck as the yen strengthens in response to fall in nikkei futures at Tokyo open.

Will try to hang on in anticipation of bond purchases by BOJ in the coming days.

Hope none of you are caught in my predicament.

[nanningbob]

My yen shorts became unstuck as the yen strengthens in response to fall in nikkei futures at Tokyo open.

Will try to hang on in anticipation of bond purchases by BOJ in the coming days.

Hope none of you are caught in my predicament.

Depends on your lot size to account size. If it is small enough it poses no problem. I just load up on pending buys (jpy sells) and wait. When it changes direction its bang bang bang all the way up. The usd/jpy dropped 88 pips and you think you are in trouble then your lot size to account size is all wrong. Me it just lets me set up some more future trades and when it reverses oh boy. I have all month to sit on these things.

[darshanag]

Depends on your lot size to account size. If it is small enough it poses no problem. I just load up on pending buys (jpy sells) and wait. When it changes direction its bang bang bang all the way up. The usd/jpy dropped 88 pips and you think you are in trouble then your lot size to account size is all wrong. Me it just lets me set up some more future trades and when it reverses oh boy. I have all month to sit on these things.

Hi Bob.. Do you mind sharing the levels where you have put the pending buys for USD / JPY ? Based on DP / R / S levels, I was thinking 104.5x & 104.6x would be good areas to enter. Your thoughts much appreciated as usual !

Cheers !

D.

[nanningbob]

Depends on your lot size to account size. If it is small enough it poses no problem. I just load up on pending buys (jpy sells) and wait. When it changes direction its bang bang bang all the way up. The usd/jpy dropped 88 pips and you think you are in trouble then your lot size to account size is all wrong. Me it just lets me set up some more future trades and when it reverses oh boy. I have all month to sit on these things.

Hi Bob.. Do you mind sharing the levels where you have put the pending buys for USD / JPY ? Based on DP / R / S levels, I was thinking 104.5x & 104.6x would be good areas to enter. Your thoughts much appreciated as usual !

Cheers !

D.

I only use xxx.000 and xxx.050 lines and daily pivot lines. There are times I will use the 15, 60, or 240 MA on the 1H or 4H charts but that is not too often. I will also place pendings just above/below previous highs and lows of candles. Sometimes when price is moving, like last week Thurs. and Fri. I just start placing orders all over the place and multiplying my profits/pip count. That can be a wily nilly approach. It doesnt happen very often but when I see something on the go I jump in. The last time I really jumped in like that was last April and May with the JPY moves. So I pick my spots when it comes to willy-nilly placements.

[darshanag]

Depends on your lot size to account size. If it is small enough it poses no problem. I just load up on pending buys (jpy sells) and wait. When it changes direction its bang bang bang all the way up. The usd/jpy dropped 88 pips and you think you are in trouble then your lot size to account size is all wrong. Me it just lets me set up some more future trades and when it reverses oh boy. I have all month to sit on these things.

Hi Bob.. Do you mind sharing the levels where you have put the pending buys for USD / JPY ? Based on DP / R / S levels, I was thinking 104.5x & 104.6x would be good areas to enter. Your thoughts much appreciated as usual !

Cheers !

D.

I only use xxx.000 and xxx.050 lines and daily pivot lines. There are times I will use the 15, 60, or 240 MA on the 1H or 4H charts but that is not too often. I will also place pendings just above/below previous highs and lows of candles. Sometimes when price is moving, like last week Thurs. and Fri. I just start placing orders all over the place and multiplying my profits/pip count. That can be a wily nilly approach. It doesnt happen very often but when I see something on the go I jump in. The last time I really jumped in like that was last April and May with the JPY moves. So I pick my spots when it comes to willy-nilly placements.

Thanks Bob ! I guess nothing to beat the trading experience that will give you the ability to take a call on when/where to jump in to collect those extra pips compared to just sticking to the rules....

D.

[fx800]

My yen shorts became unstuck as the yen strengthens in response to fall in nikkei futures at Tokyo open.

Will try to hang on in anticipation of bond purchases by BOJ in the coming days.

Hope none of you are caught in my predicament.

Depends on your lot size to account size. If it is small enough it poses no problem. I just load up on pending buys (jpy sells) and wait. When it changes direction its bang bang bang all the way up. The usd/jpy dropped 88 pips and you think you are in trouble then your lot size to account size is all wrong. Me it just lets me set up some more future trades and when it reverses oh boy. I have all month to sit on these things.

Thank you Bob for your comments. I risk only 2% of equity for each trade, and should be able to see me through any earthquakes or tornadoes.

Would be holding all my yen shorts till after the middle of the month.