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10.4 A Complete System
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Author:  MrLong [ Wed Jun 05, 2013 4:45 pm ]
Post subject:  Re: 10.4 A Complete System
spillini wrote:AUD/JPY hit T/P along with my other new trades GBP/NZD & NZD/JPY. SGD/JPY still rolling toward limit. EUR/GBP was takin out and is the only bum in the bunch. Plus 28% this week....Best week ever with this system. Patience is all you need with this system, I dont understand how someone can blow an account while following the rules of this system.

Jim
.
spillini wrote:After entering 4 pairs Sunday night:

EUR/GBP Long
AUD/JPY Short
EUR/CAD Long
EUR/AUD Long

I was drawn down quite a bit last night. Stuck to my Guns and I am now up 10%. Limits were hit on EUR/CAD & EUR/AUD at 1.3524 and 1.3541 respectively.

Still open on Aud/Jpy with T/P @ 95.56 AND eur/gbp @ 85.70 LOOKING FOR THAT 20% FOR THE WEEK.

BTW: Got stops pulled up so I can only go to +5% for the week....Im not stupid...LOL

Jim
Hi Jim,

This is what I was trying to explain earlier, you bought GBP with the NZD trade, but you Sold the GBP with the EUR trade.

I always try to look out and avoid these trades.

Andy
Author:  kwanann [ Wed Jun 05, 2013 5:01 pm ]
Post subject:  Re: 10.4 A Complete System
peranders wrote:
Gertje wrote:I wonder when the JPY will crash, I am sick and tired of waiting.... :)
JPY 30-year bond auction thursday asian session.
Interesting.. In another 8 hours we shall see, then again there nfp on friday
Author:  TraderDesk [ Wed Jun 05, 2013 6:06 pm ]
Post subject:  Re: 10.4 A Complete System
I am looking for a high tomorrow in GBP/JPY in the late afternoon GMT. To me my charts are showing this pair to be range trading for the moment. Will JPY become weaker? I am still bias for this to happen even though I don't know to what degree. Price action should go higher from 154 for this weaker bias to become evident.

Plan is to buy and look to TP after 154 or when PA becomes exhausted before tomorrow night... IF PA goes bearish then I will look to close out positions BUT bias is bullish until then.
Author:  spillini [ Wed Jun 05, 2013 7:50 pm ]
Post subject:  Re: 10.4 A Complete System
EUR/GBP is a total differant animal. Besides, Ill take 28% for the week anytime.


Jim


MrLong wrote:
spillini wrote:AUD/JPY hit T/P along with my other new trades GBP/NZD & NZD/JPY. SGD/JPY still rolling toward limit. EUR/GBP was takin out and is the only bum in the bunch. Plus 28% this week....Best week ever with this system. Patience is all you need with this system, I dont understand how someone can blow an account while following the rules of this system.

Jim
.
spillini wrote:After entering 4 pairs Sunday night:

EUR/GBP Long
AUD/JPY Short
EUR/CAD Long
EUR/AUD Long

I was drawn down quite a bit last night. Stuck to my Guns and I am now up 10%. Limits were hit on EUR/CAD & EUR/AUD at 1.3524 and 1.3541 respectively.

Still open on Aud/Jpy with T/P @ 95.56 AND eur/gbp @ 85.70 LOOKING FOR THAT 20% FOR THE WEEK.

BTW: Got stops pulled up so I can only go to +5% for the week....Im not stupid...LOL

Jim
Hi Jim,

This is what I was trying to explain earlier, you bought GBP with the NZD trade, but you Sold the GBP with the EUR trade.

I always try to look out and avoid these trades.

Andy
Author:  cmeade2 [ Wed Jun 05, 2013 9:05 pm ]
Post subject:  Re: 10.4 A Complete System
Bob

You are probably not up yet, but it looks like the Aud Nzd retracement that you have been looking for may be coming.

cmeade2
Author:  nanningbob [ Wed Jun 05, 2013 9:38 pm ]
Post subject:  Re: 10.4 A Complete System
cmeade2 wrote:Bob

You are probably not up yet, but it looks like the Aud Nzd retracement that you have been looking for may be coming.

cmeade2
I have been playing aud nzd weakness so they are not the ones bothering me. I just get nervous when my trades go outside S/R 1 unless I now what is driving price like that. So my only problem xxx.JPY went from a dip in the UT to the strongest currency on the board. That made absolutely no sense to me other than some real big boys are running everyone off from their buy positions so they can get in first. OR they dont want JPY to weaken their currency any further and we are going to be caught in the middle of one nasty currency war. In that case I never have been in one and dont know how to react to it.

JPY has no choice they have to reduce debt to gdp raio to survive. They only cover govt expenses with 1/2 coming from tax revenue the other half has been borrowed from their people which is almost dried up and they have been doing this for 24 years. No one is going to buy JPY bonds from the outside with those numbers so the BOJ has to print money buy up debt now. If they are not allowed to do that the repercussions of the world's third largest economy going under is .......... you really dont want to think about it. Multiply Greece by a 100 and you can get the idea.

The aud and nzd sinking so quickly like it is shows me that China is really fudging on its figures and is in bigger trouble than we think. If the aud and nzd stabalize into a price range then it is not a problem but if they continue to go south because China economy is retracting instead of just lowering its growth rate. Egads. Just to let you know some numbers about China, Hong Kong reported an increase of 7% of exports from the mainland. Chinese figures were 74%. They found out the difference was money being shipped out of the country and being converted to other currencies and then being shown as imports and exports of goods. That little story is just breaking. Money flight out of China has been a story for a while but how big is it really??? Gonna be one ugly summer. If Europe pops up any more bad news and the USA Congress and President continue their intransigence, dang where is there an island out in the Pacific to go hide too? Wonder what the price of land is up in the Northwest territories of Canada? :lol:
Author:  cmeade2 [ Wed Jun 05, 2013 9:54 pm ]
Post subject:  Re: 10.4 A Complete System
Bob

You don't sleep much. But as always, your comments and insights are totally appreciated.

For the moment, I am just looking to play a reversal which means trades at the DP on the AudChf, AudUsd, AudCad, AudJpy, EurAud, GbpAud, EurNzd, GbpNzd, Nzdcad, NzdUsd, NzdChf, Nzdjpy.

cmeade2
nanningbob wrote:
cmeade2 wrote:Bob

You are probably not up yet, but it looks like the Aud Nzd retracement that you have been looking for may be coming.

cmeade2
I have been playing aud nzd weakness so they are not the ones bothering me. I just get nervous when my trades go outside S/R 1 unless I now what is driving price like that. So my only problem xxx.JPY went from a dip in the UT to the strongest currency on the board. That made absolutely no sense to me other than some real big boys are running everyone off from their buy positions so they can get in first. OR they dont want JPY to weaken their currency any further and we are going to be caught in the middle of one nasty currency war. In that case I never have been in one and dont know how to react to it.

JPY has no choice they have to reduce debt to gdp raio to survive. They only cover govt expenses with 1/2 coming from tax revenue the other half has been borrowed from their people which is almost dried up and they have been doing this for 24 years. No one is going to buy JPY bonds from the outside with those numbers so the BOJ has to print money buy up debt now. If they are not allowed to do that the repercussions of the world's third largest economy going under is .......... you really dont want to think about it. Multiply Greece by a 100 and you can get the idea.

The aud and nzd sinking so quickly like it is shows me that China is really fudging on its figures and is in bigger trouble than we think. If the aud and nzd stabalize into a price range then it is not a problem but if they continue to go south because China economy is retracting instead of just lowering its growth rate. Egads. Just to let you know some numbers about China, Hong Kong reported an increase of 7% of exports from the mainland. Chinese figures were 74%. They found out the difference was money being shipped out of the country and being converted to other currencies and then being shown as imports and exports of goods. That little story is just breaking. Money flight out of China has been a story for a while but how big is it really??? Gonna be one ugly summer. If Europe pops up any more bad news and the USA Congress and President continue their intransigence, dang where is there an island out in the Pacific to go hide too? Wonder what the price of land is up in the Northwest territories of Canada? :lol:
Author:  rosst [ Wed Jun 05, 2013 10:27 pm ]
Post subject:  Re: 10.4 A Complete System
nanningbob wrote:
Gertje wrote:I wonder when the JPY will crash, I am sick and tired of waiting.... :)
.....

So let me see if I can understand this. USA talk of ending QE, or no more pumping the pump and its value sinks and talk of more JPY pumping and its value rises. HMMMMMMMMMM. got that :? :? :? :shock:
This guy seems to know it all!
http://www.dailypfennig.com/
Author:  rosst [ Wed Jun 05, 2013 10:35 pm ]
Post subject:  Re: 10.4 A Complete System
:twisted:
What I learned - stick to 10.4/5 rules and avoid CT trades!
Author:  nanningbob [ Wed Jun 05, 2013 11:09 pm ]
Post subject:  Re: 10.4 A Complete System
rosst wrote::twisted:
What I learned - stick to 10.4/5 rules and avoid CT trades!
Why I hate fundamentals and take mostly indicator trades. Cad has been going down, been expecting a retrace. Last night building permits, which means future jobs and growth, were up 10%. That was way higher than expected. In fact those numbers were astounding, the type of numbers news traders like to catch a couple hundred pips on. Cad should take a nice jump. Yeah right zzzzzzzzzzzzzzzzzz or continued to go down. I did news trading my first 2 months of trading and it made no sense whatsoever. Once in a while I will take a jump in there when I think a story should move the market. Lets see gbp/cad went up to almost S3, jpy/cad went down to S2. OK so much for that. NEXT. Maybe these guys will get tired of my complaining.
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