nanningbob wrote:10.4 will hve its own thread and what will be posted will be a final edition. There maybe an occasional update if some indi is improved or correction is needed but I expect 10.4 to be my ultimate trading system. Of course people will be able to adapt it to their styles but it will be a complete system in and of itself. 10.3 part may get some future modifications but I think it will stand on its own at this point also. Ialso plan on posting my trades every week so everyone will know how I am trading at least at first.

nanningbob wrote:10.4 will hve its own thread and what will be posted will be a final edition. There maybe an occasional update if some indi is improved or correction is needed but I expect 10.4 to be my ultimate trading system. Of course people will be able to adapt it to their styles but it will be a complete system in and of itself. 10.3 part may get some future modifications but I think it will stand on its own at this point also. Ialso plan on posting my trades every week so everyone will know how I am trading at least at first.

APQN wrote:

nanningbob wrote:10.4 will hve its own thread and what will be posted will be a final edition. There maybe an occasional update if some indi is improved or correction is needed but I expect 10.4 to be my ultimate trading system. Of course people will be able to adapt it to their styles but it will be a complete system in and of itself. 10.3 part may get some future modifications but I think it will stand on its own at this point also. Ialso plan on posting my trades every week so everyone will know how I am trading at least at first.

WOW such exciting news for the new year ahead. Thank you so so much for sharing your knowledge. Looking forward to applying your new strategy.

atharmian wrote:Kang hei fat choy ! To Bob/family and All here.
May we each get a chance to rub the laughing Buddha's belly this year ...

Below is an excellent article on the state of the euro and things to come in the forex market. Good for those 14 pair basket trades- and don't give up on the EURJPY trades yet !

THE VALUE OF THE EURO

http://online.wsj.com/article/SB1000142 ... ions_world

nanningbob wrote:

APQN wrote:

nanningbob wrote:10.4 will hve its own thread and what will be posted will be a final edition. There maybe an occasional update if some indi is improved or correction is needed but I expect 10.4 to be my ultimate trading system. Of course people will be able to adapt it to their styles but it will be a complete system in and of itself. 10.3 part may get some future modifications but I think it will stand on its own at this point also. Ialso plan on posting my trades every week so everyone will know how I am trading at least at first.

WOW such exciting news for the new year ahead. Thank you so so much for sharing your knowledge. Looking forward to applying your new strategy.

I used to post my trades every morning when I had my 3.0-5.0 series. It was fun for a year but also took a lot of time and effort. 10.4 may be done quickly by hopefully clicking a tick chart and then posting it online. That way everyone can follow and see how bad of a trader I really am. I think it is good, especially for new traders to see others can struggle with trading at times.

nanningbob wrote:Please check out this indi with different brokers. You will need to put a 240 MA OPEN LWMA on a 4H chart and this indi. It will tell you three things 1. Present price 2. distance to the 240 MA line 3. what size your lot size would be if you had 1000 dollars in your account to suffer a stop loss at this line. Approximately what % of your account. This indi is an important piece to 10.4 and want to make sure it works. You must understand because of rounding down or up these numbers are approximates. So to find out if it is working properly you take the number of pips to the 240 line multiply it by the recommended lot size and you should get a figure near 5.00 dollars for .5% 10.00 dollars for 1% and 20.00 dollars for 2% SL. This is to help you figure your lot size to account size properly for your trades. So if it says .03 for a 1000 dollar account you would use a lot size of .09 on a 3000 dollar account. Will explain later how it is used when I put up the complete system.
The pic below shows how to measure distance. 175 x.03= $5.25 or approximately 1/2% of a 1000 dollar account. 175 x .07 = 12.25 or 1.2% of account balance on a 1000 dollar account. If you wish to risk 2% then it is 175 x .14 or 24.64. This does not take into account the different values on various cross pairs. It is to give you a quick best estimate. Because of rounding and limited size of lot figures these are approximate values but close.

Thanks.

madpipa wrote:

nanningbob wrote:Please check out this indi with different brokers. You will need to put a 240 MA OPEN LWMA on a 4H chart and this indi. It will tell you three things 1. Present price 2. distance to the 240 MA line 3. what size your lot size would be if you had 1000 dollars in your account to suffer a stop loss at this line. Approximately what % of your account. This indi is an important piece to 10.4 and want to make sure it works. You must understand because of rounding down or up these numbers are approximates. So to find out if it is working properly you take the number of pips to the 240 line multiply it by the recommended lot size and you should get a figure near 5.00 dollars for .5% 10.00 dollars for 1% and 20.00 dollars for 2% SL. This is to help you figure your lot size to account size properly for your trades. So if it says .03 for a 1000 dollar account you would use a lot size of .09 on a 3000 dollar account. Will explain later how it is used when I put up the complete system.
The pic below shows how to measure distance. 175 x.03= $5.25 or approximately 1/2% of a 1000 dollar account. 175 x .07 = 12.25 or 1.2% of account balance on a 1000 dollar account. If you wish to risk 2% then it is 175 x .14 or 24.64. This does not take into account the different values on various cross pairs. It is to give you a quick best estimate. Because of rounding and limited size of lot figures these are approximate values but close.

Thanks.

Hi Bob,

I had a quick look at this indicator. I like the idea of using a "safe area" to define where the SL should be - very good.

To do a quick check I put the -175 pips into my personal excel sheet to see what answer I got. I only get 0.005 lots by my calculator. Approximate, because I work in AUD & it depends on the quote currency used, but as it is nearly 1:1 to USD it is close enough.

So then I went to Babypips & used their calculator:
http://www.babypips.com/tools/forex-cal ... onsize.php
It results in 0 micro lots - they don't show < 1 micro lot. Please check my process!!

So I took another approach: a full position size (1 lot) is $100,000. This is $10 per pip. So a mini contract (0.1 lot) is $1 per pip & a micro contract (0.01 lot) is $0.10 per pip. So if you had a SL = 175 pips that would be 175 * $0.10 = $17.50 for 1 micro lot. In your example you say that 0.03 lots is approx $5.25. But using my calculation it would be $17.50 * 3 = $52.50.

I have been working for a few hours trying to get an EA working, so my brain may well be passed its "used-by-date". If I am talking rubbish, please forgive me. But any way I work out your calculation it seems to be that it is wrong by a factor of 10.

I hope you are not as confused as I am .
Please tell me the error in my ways...

Have a great weekend Bob.

Cheers,
Mick

xrismak wrote:Kwannan,

You have the Goodie Bag now.... Will get you the Candy Floss Later..

Happy Trading,

xrismak