10.4 A Complete System

[nanningbob]

JPY retrace time to load up again. YEAH

[Gertje]

JPY retrace time to load up again. YEAH

Lock and load, ready to pull the trigger.....!

[nanningbob]

Bob when you get a winning basket like you had last night at the time you close out your trades do you also close the looser at the same time even if they have not hit the 240? Or are the looser you mention just the second or third entries to you winners? Just curious cause I have been sitting on a loosing eurcad trade for several days now and I could close it out and still be up with the other trades, but at the same time it is making positive interest. The trade was crossing back below the 240 at the time I entered it and I have my stop above the highs. Thanks

If you have a euro buy yuck. If it is a euro sell, I would hang in there. Euro drops at the next negative story that comes out, whenever that is. So until then you can hang onto that buy and see if you can get out BE.

[nanningbob]

Bob when you get a winning basket like you had last night at the time you close out your trades do you also close the looser at the same time even if they have not hit the 240? Or are the looser you mention just the second or third entries to you winners?

When I take profit, the chances that price will continue is not good. There are high points during a session and that is where I want to take them. So today I canceled all trades took profit and then decided what I want to do with the last trade. If the loss is small it is usually gone with the trade however, if fundy is strong, like JPY is now, I will leave it or punch up a new pending. So what happen tonight so far is all my JPY have one trade or a pending left. With the retrace I set new pendings behind price. If price reverses like it has I have a losing trade but multiple reentries. All of a sudden my DD just disappears and I am on my way again.

If you see the present gbp/jpy I have a trade that is a loser and the winner catching up. When it gets to the near the line I have my TP which will give me a winner and a very small loser. Then I have pendings set on the other side again if price pushes up. Looks like this.

[nanningbob]

I changed the entrances to white so you can see them better. So the winning trade will close two trades. The previous high and the new low entered. Then if price breaks north I have a new pending and a 2nd pending above that. This way I stay in the trade if it continues and am out if it is not. I win both ways.

[rostaus]

JPY retrace time to load up again. YEAH

Thanks Bob, just caught it on the way back

[nanningbob]

OK it hit its previous high, both trades closed and if price continues to run and cross the next line. I am in again. If not I have no gbp/jpy trade in play.So you saw live how I maximize my pip numbers. I had 4 gbp/jpy trades. I was 3 and 1 total pips 105. The one loser was 9 pips so the 3 winners equaled 114 pips. So the total number of pips gbp/jpy from today's high to today's low is 107 pips and I pocketed 105 of them. Would have been much bigger if that limit pending had taken but that is the way it goes sometimes. So now I go to bed. If the market moves big I am in, if not I am done for today withe gbp/jpy.

[spillini]

Yessss... All my limits were hit. Now set all buy stops above the High. were clear across the board with a 26% increase for the week. Got one of those feelings again. Got visions of a huge selloff on Friday. Lets see if it comes to pass.

[sanook]

Could someone summarize a bit please.

Thanks for you help

Only you can sort this out for yourself:

• forget what you think you already know:
• read post 1 here.
• read the pdf in post 1.
• skim through the thread studying Bob's charts.

Take your time; this cannot be rushed.

The go to Captain Jack's thread (linked in post 1) and:

• read the first 100 pages of the thread slowly.
• pay attention to every one of CJ's charts.
• it will quickly become obvious whom the other really clever and knowledgeable contributors are; study their charts as well.
• skip to the last 20 pages pr sp tp see what has been happening more recently.

I reckon this little lot will take you a week. At the end, your thought processes and your trading will be transformed.

Good luck.

Thanks for your contructive post steve, I will re-read the booklet and will read captain jack thread.

[nanningbob]

closed all my trades in profit and most of my trades that had small losses. I left my self with less than 2% DD. Reset my pendings if price takes off again and if price goes against me I have cleaned out most of my trades. This prevents my DD from getting big and pockets the max of my profit. My day today 29 and 9 banked 679 pips 5% increase of my account. I have 11 open trades and 16 pendings set. Price moves while I am sleeping great. Price goes against me i will deal with that tomorrow. Night.