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10.4 A Complete System
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Author:  hansnl [ Wed Mar 20, 2013 6:25 am ]
Post subject:  Re: 10.4 A Complete System
Wiggy1965 wrote:pound has ranged 76 pips this week WTF...?
grimweasel wrote:
nanningbob wrote:
grimweasel wrote:
Stay out of gbpxxx trades tonight and tomorrow as we have the Budget here and the Chancellor needs to do something drastic to save the ailing UK economy. Expect volatility....


That is good news. Yes we want volatility. Go GBP break up this mess. Go up, go down but please go somewhere.


Indeed Bob - but let Mr Market show his hand first! That is why we have 2 dojis on Cable for the post two days as the big boys are awaiting direction and news.

just two pages back ;)
Author:  nanningbob [ Wed Mar 20, 2013 6:37 am ]
Post subject:  Re: 10.4 A Complete System
eevra wrote:
nanningbob wrote:
eevra wrote:Hi BOB:

This req is from an Indian trading in India on an index future NSE50 (NSE_Nifty - offered by (GCI Empty4).
I have been fascinated by your systems esp so on 10.4 v5.
Y'day I observed the following:
[ DP-DMS1-960MA-DS1-DMS2-DS2]
Value wise [ 5911-5985-5983-5860-5842-5825 ] STO5 rising from 20 up & around 27
The price fell from DS1 and went until just above DS2.
I did not Short , as it was below DS1.
If the price breaches below DS2, Don't you thin it is a short candidate ?
Pls adivise.

P.s. we can't trade major intl currencies like USDCHF etc.,
attaches a snapshot
I have no idea whether or not 10.4 will translate into other markets. If other markets have monthly trends then probably. Part of my trading is understanding basic underlying fundamentals. When the NZD spiked last week over a no change in interest rate I knew that was a temporary move and I traded accordingly and moved my stops around along with my TP. Entered some extra levels and recovered my losses back to zero. You are asking me to give advice on something I have no clue about. Sorry.
Thanks Bob for your response.

Our markets do have monthly trends.
I 'll try to simplify my query.

When the price is below 240MA ( 960 in H1) , sometimes the price moved down ( as contrary to our rule - No sell below DS1 ) from DS1 to DS2 intraday ( about 35 pips ) & still moving down.
Is there any other way to have captured this move ? - using 10.4 v5 ( for scalping ..)

-thanks..
The markets are not the same. For example a bank sells a lot of GBP in exchange for USD. We as traders would not touch the buy but banks have to buy to replenish their sold pounds and dump some of their excess dollars. They have customers to satisfy and sell pounds to. So FOREX will stay in ranges or retrace after a sharp move. Banks have to keep a certain amount of GBP on hand to sell. That is not true in other markets so where we dont sell at a S1 or S2 or buy above R1 or R2 there is a good reason we dont do that. In other markets, for example, IBM does not have to buy more IBM shares to replace the ones sold. If price is going down for some reason it can continue until the market finds buyers. Forex there are always buyers and there are always sellers. Money is always being exchanged. So to ask will it work, the rules are not the same.
Author:  cjthomson [ Wed Mar 20, 2013 7:00 am ]
Post subject:  Re: 10.4 A Complete System
The_Snowman wrote:Anyone on the NZD-USD?

If it breaks the confluence of -

- low of weekly open range
- 4H SuperTrend
- Mid Support 1
- Round number at 0.82

....... look out below

:shock:

Oh, lower chart is Williams %R, just another Oscillator, set at 14 with SMA 14 as well
Yep, I'm in NZDUSD. I got in yesterday at the break of the Piv. Pos 2 has just triggered for me but it's seeing some draw down. My question here: where exctly should I put the SL for Pos 1? If I move it to the mid point between Piv and MS1 then I'm out of the trade pretty much instantly, although that puts me to b/e.

Anyone got some advice - looking for a 'light bulb moment'? This is where I am having some trouble and picking up more losses than I should.
Author:  TraderDesk [ Wed Mar 20, 2013 7:06 am ]
Post subject:  Re: 10.4 A Complete System
Aud/Jpy has passed the pivot line. If it does strengthen looking for a first profit target at the WRS1... Also looking to add positions if 100 is broken. 10.5 is at the top on the STO so if it retraces down below 25 will look to add to positions if price action looks promising....
Author:  Guest [ Wed Mar 20, 2013 7:40 am ]
Post subject:  Re: 10.4 A Complete System
TraderDesk wrote:Aud/Jpy has passed the pivot line. If it does strengthen looking for a first profit target at the WRS1... Also looking to add positions if 100 is broken. 10.5 is at the top on the STO so if it retraces down below 25 will look to add to positions if price action looks promising....

going to see some pullback before we try for a break past WMR1
Author:  TraderDesk [ Wed Mar 20, 2013 7:46 am ]
Post subject:  Re: 10.4 A Complete System
lisaireton wrote:

going to see some pullback before we try for a break past WMR1
Most likely as the 10.5 STO is now at the top. I have taken some profit using 10.5 and will add new positions when the STO goes down and shows a new upturn...

10.4 positions I leave open...
Author:  huhpapa [ Wed Mar 20, 2013 7:49 am ]
Post subject:  Re: 10.4 A Complete System
Image

10.5 and CJ combine Rocks ... Loving It .... As I am posting this profit filled.
Author:  The_Snowman [ Wed Mar 20, 2013 7:49 am ]
Post subject:  Re: 10.4 A Complete System
cjthomson wrote:

Yep, I'm in NZDUSD. I got in yesterday at the break of the Piv. Pos 2 has just triggered for me but it's seeing some draw down. My question here: where exctly should I put the SL for Pos 1? If I move it to the mid point between Piv and MS1 then I'm out of the trade pretty much instantly, although that puts me to b/e.

Anyone got some advice - looking for a 'light bulb moment'? This is where I am having some trouble and picking up more losses than I should.
Technically, the 240 LWMA is your stop, so before entering, get an approximate of that in pips, then adjust your position size accordingly.

If you trade by lot size only, then you will have to set your stop as a % of account balance, when you hit that get out.

The old standby stop is "When the pain of losing 1 more dollar is greater than the pain of admitting you are wrong, EXIT"

If there is another way, please let me know

:D :D :D
Author:  Gertje [ Wed Mar 20, 2013 8:09 am ]
Post subject:  Re: 10.4 A Complete System
roje wrote:
Gertje wrote:
roje wrote:Do you know anyone about the EA, which set SL to BE after starting the second trade (second level) ? MPTM can set the whole basket to BE, but there I do not know how to set it to the BE when is second trade triggered. Yesterday I did not manage to set the BE, because I slept and now I have two losing trades (NZDUSD)
In the 'usefull things for 10.4' thread, there is a ITM EA that will do the trick.
I only use it for setting BE and SL, taking profit etc. doesn't work yet for me.

Thankx, could you send me your settings ? Pleeease :-)
Author:  Guest [ Wed Mar 20, 2013 8:09 am ]
Post subject:  Re: 10.4 A Complete System
TraderDesk wrote:
lisaireton wrote:

going to see some pullback before we try for a break past WMR1
Most likely as the 10.5 STO is now at the top. I have taken some profit using 10.5 and will add new positions when the STO goes down and shows a new upturn...

10.4 positions I leave open...

pleasant thought, i have several pairs i'm waiting for the same situation with
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