The Incredible 10.4 - For Dummies

[mjws00]

I personally like the look of the RSI template much better. It has less noise. The zeroing out for setting up ... it gives a sweet little twitch as it gets ready to move... I like the original. I haven't seen anything but false entries come from the extra stoch moves that appear. I have no performance issues with TMA but some did.

However, the stoch template is easy to read as well and easier to code for. My guess is it will be adopted and people will just filter by eye. A small piece of me likes the extra sensitivity but then why not understand the subtleties stoch can offer vs. clipping it.

I found putting pendings in early exposed me to more peeker trades and draw down, so I tend to want to wait until closer to the trend resume vs. slamming them in the second rsi/stoch pegs. You still end up with the same trades in most cases, just easier on my psychology to draw down less.

I'll tweak as a few hundred more trades develop Early Days.

[robysms]

Hello. My question is very easy ( i think)! I understand how to use the system. But i have not understod what price to set pending orders. Someone can explain how to do? Tanks

[WideEyed]

robysms, the example pending orders are on page 14 onwards. Which part did you have trouble with? ALL orders Bob set in those examples were pending orders.

[robysms]

Yes, I read that part but I still have doubts. In any case I reread carefully. You can, however, make some practical examples of current situations?

[WideEyed]

Here's from the current EURJPY.

If the price drops below the yellow weekly pivot - and the other indicators are in place - you'd place your pending order at the yellow weekly pivot. If the price then crossed below the WMS1 (green dotted line), you'd place a pending order at that WMS1 price.

[robysms]

Thank you. So it is very simple. The doubts came to me as explanations are talking about more than one pending order. In your example if the price falls below the WMS1 I have to set two pending orders? One on WP and one on WMS1?

[WideEyed]

No, you set the WP PO when price falls below WP and the WMS1 PO when the price falls below WMS1.

When the price returns to trend it might trigger only the WMS1 PO or might then go on to also trigger the WP PO.

As I've said in the big boys' thread as well, there is risk till that second trade is triggered. If it's triggered you can set a SL between the WP and the WMS1 to ensure that the net effect of the two trades is BE and you can't lose. However, if your WP PO is not triggered you will probably lose money, especially if you have to exit on orange which does seem to happen quite often in some pairs.

[robysms]

Ok perect. Now i think i understand . Thanks

[FocalPip]

Hello. Let me first say what a great site this is. Something special. I've been lurking since 10.2.

I was wondering why the template hides the pivots past WMS2 and WMR2. Is it not recommended to place an order past these levels?

Thanks

[McNish]

I was wondering why the template hides the pivots past WMS2 and WMR2. Is it not recommended to place an order past these levels? Thanks

Hi there, If you do a little eye balling using the template you'll see that except for a few occasions, the price does not move beyond the WMS2 and WMR2. So Bob here is advocating a safe system where the probabilities are in our favor. Hope I'm clear.