10.4/10.5 trades only

[6y588]

Teamviewer can't live without it +1. Visiting at hospital, but can still access Empty4 on iPad 3G.

ChfJpy hit TP +68 pips

[Jemook]

Yep that was an easy one!

420 pips from a 100 pip move!

2013-05-22 06.07.46 pm.png

Sheesh I need to go to the back of the rookie line now. I think we have unleashed a monster here.

Scaling in 10 positions at 10 pip increments over a 100 pip move = 450 pips give or take a few.

EURNZD looking good:

2013-05-22 07.29.42 pm.png

Same for AUDCHF:

2013-05-22 07.28.21 pm.png

[yamez]

so here goes. bullish USD/EUR bearish NZD/AUD

check 4H for RSI2 condition & above/below 240line.

entered a short AUDUSD at 0.979-ish. (and its in profit now)
yesterday's EURNZD had a 60 pip drawdown but came good in the end.

Good call on EURNZD, nicoacademia. This is the 3rd large move on this pair I've caught in the last 2 weeks. Gotta learn the nerve to scale in now. Got burnt by high impact news, ( I didn't check the news ) on GBP earlier but D1 CSS analysis could have kept me out.

[tboy]

great work jemook. how are you managing your stops when entering every 10 pips? are you ratcheting them up, using a standard trailing loss or going naked?!
cheers, tboy

[Jemook]

Cheers tboy, no stops in my trading.. Just quick to close out any trade that doesn't look good. I'll probably apply some sort of stop management in future if it doesn't work out. Right now just trying to bang out as many setups as possible to get a feel for the system.

Here's a good example of what happens when a setup doesn't go to plan:

AUDCHF 4 entries got triggered but H4 CSS is going to close green soon. Will keep a close eye on it, if it breaks down below the weekly pivot I'll stay in otherwise will shut all the trades at a loss and wait for another setup.

2013-05-22 09.34.42 pm.png

If I shut now I stand to lose ~160 pips but if this trade had been succesful and hit TP of WS1 then I would have pocketed 450+ pips. Sounds good in theory, anyway.

[alex84]

Cheers tboy, no stops in my trading.. Just quick to close out any trade that doesn't look good. I'll probably apply some sort of stop management in future if it doesn't work out. Right now just trying to bang out as many setups as possible to get a feel for the system.

Here's a good example of what happens when a setup doesn't go to plan:

AUDCHF 4 entries got triggered but H4 CSS is going to close green soon. Will keep a close eye on it, if it breaks down below the weekly pivot I'll stay in otherwise will shut all the trades at a loss and wait for another setup.

2013-05-22 09.34.42 pm.png

If I shut now I stand to lose ~160 pips but if this trade had been succesful and hit TP of WS1 then I would have pocketed 450+ pips. Sounds good in theory, anyway.

Hello Jemook

what is the interest of using this scaling instead of putting one pending only on a chosen line (S R pivot so on) ?
You collect pips in cases of a reversal but only if you have close tp which is not your case here ?

[sponn]

what is the interest of using this scaling instead of putting one pending only on a chosen line (S R pivot so on) ?
You collect pips in cases of a reversal but only if you have close tp which is not your case here ?

Multiple entries are the mainly advantage of 10.4/10.5 system, aren't they ?

[tibochina]

Trading with no SL is not wise when trading live accounts. One of the benefits of 10.4 is not having to stay glued to the charts 24-7. Trading multiple volatile pairs with no SL could result in margin calls and huge losses if you are unable to close losing positions quickly. I would rethink this if you begin live trading.....

[alex84]

what is the interest of using this scaling instead of putting one pending only on a chosen line (S R pivot so on) ?
You collect pips in cases of a reversal but only if you have close tp which is not your case here ?

Multiple entries are the mainly advantage of 10.4/10.5 system, aren't they ?

I agree if they are logical or psy levels based entries, not 10 pips grid based on nothing, i don't see where is the advantage as the tp is far from all this multiple entries
A pivot, a S or a R makes sense to put another entry and make more pips, because you went through a level that is proven, but what about a grid of 10 pips ?

[Jemook]

There's more than one way to skin a cat would love to go into it but I'm off to bed. Good night folks!