10.3 SCALPER/RANGE TRADE SYSTEM

[nanningbob]

In the booklet of 10.3 under the TMA slope section in the last sentence, it is stated to use the TMA for 10.3 in the same manner as it was used for 10.2. Does it mean that the TMA lookup for 10.3 is in the H4 tf?

Yes or you can go back to the original 10.2 and use the daily also. 10.3 was something I developed because I was bored one day waiting several weeks for the market to move and I wanted to trade. So it is getting into some really nice trades. This is an easy time to trade because everyone knows the JPY is going to slide and it is just a matter of choosing good spots to get in.

My emphasis is the 4H because that is my favorite TF to trade. That is where I park and make a lot of my decisions. So that is where my emphasis often is. Basically trading the 4H chart is trying to catch the weekly move and jumping in. Means I like to hold a trade from hours to several days and then I am out. I teach some long trade techniques for traders who like to trade like that but I am just too impatient of a trader to hold trades for many days or weeks.

Like yesterday I was 16 wins 13 losers and the average time holding onto a trade was 3 hours. However, I increased my account by almost 2 percent. I am also cutting back on the use of the jump EA, getting too many winning trades knocked out and going for S1/R1 on most pair TP and S2/R2 for volatile pairs. I missed the gbp/nzd move just now on my TP. It missed the line by 3 pips and came back down. Difference between a 5 pip profit and 75. Really would have been a nice trade but I got a little greedy.

[nanningbob]

I am playing around with an idea playing the boxes from the USA session. I set my Baluda's indi to the USA pivot. Means the pivot is set 1/2 hour before the USA open. I set pending trades on either side of the box. SL on the other side of the box with the Jump EA on +1 after BE. Worked really good yesterday. got some real nice breakouts. Use the 10 MA to get out when it is crossed back. gbp/jpy trade yesterday. Pink areas are where I look to enter. Put pending buy above and pending sell below the DO and DP lines. I use the 1H to visualize the trade and then go to 15M chart to set the trade. SL and TP vary from trade to trade and pair to pair.

[nanningbob]

my gbp/nzd trade yesterday. Just missed a big gainer was sleeping at the time of the move. Yes I miss things.

[nanningbob]

50 pips chf/jpy trade yesterday. I just found that the big moves a couple of times this week during the jpy and aud sessions were screwing up my pivots during the USA session, so I reset them for the session. Was a nice improvisation. I may try it again today or stay with the opening pivots, dont know but it worked the first day I tried it.

[nanningbob]

Bob,

Thanks so much for your JPY-pairs charts and your analysis about JPY.
Made med catch up some of my losses I had made, will continue
trading the pair to breakeven and then maybe even make some profit.
Think I'll await the BOJ meeting for more trades though.
(Would be great if we could have your input after BOJ meeting).

Thanks again.

Thanks. JPY cross pairs are at their tops so I have closed out. May play again today but with school ending first sememster I probably wont trade until the USA session. I like the resetting of the pivot line yesterday and will try that again today. See what happens.

[nanningbob]

For the pivot analysis stuff, I've posted the details, indicator, instructions, etc, on a separate thread.
http://www.stevehopwoodforex.com/phpBB3 ... 807#p35807

Any comments or questions, let me know...

You should follow Jedstar and read this stuff. Good training and insight.

[nanningbob]

Thanks To All contributing here. Full time job integrating all this good stuff into my trading. Just want to say thanks. Jedstar nice job on the study....................

And here's a little question. I have been using the 'Instant Trailing Stop' in Steve's epic MPTM EA along with Break even and Jumping Stop for my 10.3 scalps. I think I like the instant trailing stop. If the entries are reasonable the Sl is essentially moving up with PA and if it then does a swing to the losses are reduced. The other scenario is your entry results in a bit of ranging or whipping PA and you may get stopped out when actually you wouldn't if you had a static SL. Another good point is that all my trade management sits in one instance of MPTM and there is no need for the Jump EA.

So the question is what do you guys think of this idea?
For trades that I am going to walk away from (for awhile) here are the MPTM settings I am using.

Instant SL = 18
Remove Instant SL at BE = true
BreakEven = 7
BreakEven pips = 2
Jumping stop = 7
Jump at BE = true

This in my view is a fairly 'tight' set-up and thus requires timing and logic of entry to be pretty good

I wish I could predict the markets. Jump EA works great when price breaks out, works terribly when markets just range tightly or are very jumpy. We have had very jumpy markets this month and it has driven me nuts so I have gone into high volume trading. Taking my constant hits but then getting some kind of profit when I finally get one to fly.

[nanningbob]

Just want to show what would happen on the Aud/jpy if you used the pivots an hour before the open. Baluda has given us some real possibilities. Remember some professional traders do reset their pivots before every open. I only traded going towards the open and the pivot was the SL. Food for thought.

[nanningbob]

AUD JPY same week, which is this week pivots reset for Euro Open. Just play the box

[nanningbob]

USA open set 1/2 hours before USA open. Aud/jpy this week.