10.4 A Complete System

[kwanann]

Correct me if I.m wrong, but I believe the weakness of 10.x has always been during the change of trend ie from uptrend to downtrend and vice versa, since the 240ma is still considered quite slow to react. This has been partially solved with the CSS which is able to provide another source of info on the trend or currency strength.

It would be seriously unwise to ignore the chart CSS, if it turns a color different from the 240line trend, get out ASAP. This is especially so with chf pairs, their ADR is much higher, meaning you will stand to lose much more.

Fundamentally with 10.5 pretty much all the grounds are covered, you just need to follow the rules, ignore them at your own risk

[kwanann]

well my account is blown.. lost all my money, taking the remaining $100 i have and withdrawing to my bank.. this system doesn't work for me at all.. im done

Did you post your trades? Just wondering what went wrong for you.

Let me guess.. Chf and yen pairs?

[nanningbob]

In a story we have been following closely, MetaQuotes has published on its broker support site that it is urging brokers to cease operation with third party developers that they believe to have ‘hacked’ their Empty4 trading platform and are violating the firm’s license agreements. Mentioned in the letter to brokers are copy trading provider ZuluTrade, Tradency, Tradeo and Myfxbook. A similar announcement led to the banning of a popular third party user interface plugin from MT4i. According to sources, MetaQuotes is presently in the process of trying to ban IPs being used by these four service providers.

rest of the story

http://forexmagnates.com/metaquotes-war ... zulutrade/

[nanningbob]

Yesterday ended up being a big retracement day. All across the board currencies have run out to the S1/R1 on the weekly pivots. Normally prices dont run outside those lines for long so I am getting ready for action.

I see a lot of complaining and for those of you that want to promote CJ thread go back and write on his thread. This thread is for 10.4 trading and if you think he is so great, and he is a good trader and system, go post there. He started his own thread for discussing his trades and that is where they belong. I made 65% of my account last month so if you think I am making any major changes I am not.

If you trade proper MM you dont blow accounts. I dont care what system you use, you hang onto losing trades, trade too big of lots to account size, trade high leverage, etc. you are asking to lose your money.

Read a good article last night, jpy bond buying is going to happen again this month. BOJ is changing its strategy some. Instead of 8 buying sessions they are going to 10. So no matter what your indis say get ready to load up because they are committed to their program. When the Koreans complained to the BOJ about their program they basically told them to deal with it.

[Anonymous]

Yesterday ended up being a big retracement day. All across the board currencies have run out to the S1/R1 on the weekly pivots. Normally prices dont run outside those lines for long so I am getting ready for action.

I see a lot of complaining and for those of you that want to promote CJ thread go back and write on his thread. This thread is for 10.4 trading and if you think he is so great, and he is a good trader and system, go post there. He started his own thread for discussing his trades and that is where they belong. I made 65% of my account last month so if you think I am making any major changes I am not.

If you trade proper MM you dont blow accounts. I dont care what system you use, you hang onto losing trades, trade too big of lots to account size, trade high leverage, etc. you are asking to lose your money.

Read a good article last night, jpy bond buying is going to happen again this month. BOJ is changing its strategy some. Instead of 8 buying sessions they are going to 10. So no matter what your indis say get ready to load up because they are committed to their program. When the Koreans complained to the BOJ about their program they basically told them to deal with it.

Well said, Bob. I can't agree with you more.

Much of the problems with forex is over-trading and MM. We have all been there before.

[f451]

Now who stayed in after the counter trend dip in the euro session to reap the with trend surge in the us session? How'd everyone do?

[zentauro67]

The system is great, and after CSS filter improvement, quite safe. These days are hard to deal with, but USD index needed a correction after such a rally. When USD index collapses the overall market get crazy. Now is time to wait and see if these 240 crosses are valid or just the result of an overeaction. It would be good show some patience. No way shorting JPY pairs despite 240 situations. Some pairs reaching WS/R 2 on monday is quite exciting. I keep bearish on GBP and EUR and wait a correction sooner or later. EURUSD is becoming a ranging pair and 1.30 is top of the range. So, I´m waiting it cross 240 back down before take any trade. Same GBPUSD.

I´m using 1440 SMA as a filter to keep in control these kind of days. If 240 is under 1440 SMA, for example, I don´t bet for longs despite 240 crosses to the upside. Time to wait because the long term trend is still bearish despite price going above 240. Very boring trading style but good in order to avoid DD during tournarounds.

[Pipstubborn]

[quote="nanningbob"]Yesterday ended up being a big retracement day. All across the board currencies have run out to the S1/R1 on the weekly pivots. Normally prices dont run outside those lines for long so I am getting ready for action.

I see a lot of complaining and for those of you that want to promote CJ thread go back and write on his thread. This thread is for 10.4 trading and if you think he is so great, and he is a good trader and system, go post there. He started his own thread for discussing his trades and that is where they belong. I made 65% of my account last month so if you think I am making any major changes I am not.

If you trade proper MM you dont blow accounts. I dont care what system you use, you hang onto losing trades, trade too big of lots to account size, trade high leverage, etc. you are asking to lose your money.



On top of this, I noticed a trader took buys on gbp/chf today without respecting the rules. RSI2 was bottomed flat last week not today.... so there was NO reason at all to lose on this pair. He souldn't be IN in the first place.

[Pipstubborn]

Now who stayed in after the counter trend dip in the euro session to reap the with trend surge in the us session? How'd everyone do?

We don't do CT in this thread but I build my PENDINGS STOPS for the week by waiting till the conditions are right and keeping a safe distance of PA while in the retracement

[nanningbob]

I lost money yesterday 2 winners 4 losers about 2% of my account but I wanted out of a trade that probably is going to run the wrong way once JPY bonds start selling. So I took the hit. I will be up by the end of the week though.