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10.4 A Complete System
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Author:  mjws00 [ Mon Feb 25, 2013 9:50 am ]
Post subject:  Re: 10.4 A Complete System
Here is one that concerns me. I actually screwed up and was looking to sell this back to WS1 or or somewhere around the 240. Counter trend. USDCHF looks incredibly toppy to me if you zoom out a little or look at the daily. Anyway, It lit up on my screen, and I pulled the trigger the wrong way. Then I got conflicted (which is rare) and reversed to follow 10.4. Not good.

Unfortunately I can't see it making new highs very easily, but I'm hoping 1hr, 4hr rsi oversold drives it back up for me to take some out of it. Maybe a retest around 0.9310. The trades where you are looking at the Up Trend 240, but you have lower highs closing in are very interesting. We have a number of pairs like that. My habit is to counter-trade them from the top. This system doesn't counter-trade.

Blech. It's the tricky ones that will get ya. Right around the 240 and at market turns are where this system gets subtle. Probably smarter to just stand aside. I may get spanked for following the rules. Reversing cost my a few pips on the entry too. Grrr.

Mike
Author:  mjws00 [ Mon Feb 25, 2013 9:57 am ]
Post subject:  Re: 10.4 A Complete System
allisonmagic wrote:
mjws00 wrote:Here is one that concerns me. I actually screwed up and was looking to sell this back to WS1 or or somewhere around the 240. Counter trend. USDCHF looks incredibly toppy to me if you zoom out a little or look at the daily. Anyway, It lit up on my screen, and I pulled the trigger the wrong way. Then I got conflicted (which is rare) and reversed to follow 10.4. Not good.

Unfortunately I can't see it making new highs very easily, but I'm hoping 1hr, 4hr rsi oversold drives it back up for me to take some out of it. Maybe a retest around 0.9310. The trades where you are looking at the Up Trend 240, but you have lower highs closing in are very interesting. We have a number of pairs like that. My habit is to counter-trade them from the top. This system doesn't counter-trade.

Blech. It's the tricky ones that will get ya. Right around the 240 and at market turns are where this system gets subtle. Probably smarter to just stand aside. I may get spanked for following the rules. Reversing cost my a few pips on the entry too. Grrr.

Mike

should have been long at WR1 or the pivot
I am Long at the PIVOT. That would be the "REVERSING COST ME A FEW PIPS" part. ;)
Author:  mrelectron [ Mon Feb 25, 2013 9:58 am ]
Post subject:  Re: 10.4 A Complete System
I have twinned my XAUUSD (GOLD) trade above with XAGUSD (SILVER)

I'm a newbie and would welcome any comments on this trade, also the way I have posted the trade, should it have any other info on it etc.
20130225-xagusd.gif
This trade is on a DEMO account and I know nothing about fx trading. I'm just posting these trades in the hope of learning from more experienced traders.

The other thing I like on this is it is playing the strong USD.
Author:  rebyte2 [ Mon Feb 25, 2013 10:04 am ]
Post subject:  Re: 10.4 A Complete System
mjws00 wrote:Here is one that concerns me. I actually screwed up and was looking to sell this back to WS1 or or somewhere around the 240. Counter trend. USDCHF looks incredibly toppy to me if you zoom out a little or look at the daily. Anyway, It lit up on my screen, and I pulled the trigger the wrong way. Then I got conflicted (which is rare) and reversed to follow 10.4. Not good.

Unfortunately I can't see it making new highs very easily, but I'm hoping 1hr, 4hr rsi oversold drives it back up for me to take some out of it. Maybe a retest around 0.9310. The trades where you are looking at the Up Trend 240, but you have lower highs closing in are very interesting. We have a number of pairs like that. My habit is to counter-trade them from the top. This system doesn't counter-trade.

Blech. It's the tricky ones that will get ya. Right around the 240 and at market turns are where this system gets subtle. Probably smarter to just stand aside. I may get spanked for following the rules. Reversing cost my a few pips on the entry too. Grrr.

Mike
The one 'glaring' issue i have with that is the massive bunch of failed 4H candles = resistance.

Besides... USDCHF mimics EURUSD faithfully... so i do not trade it at all.

Only my observations.
Author:  mjws00 [ Mon Feb 25, 2013 10:15 am ]
Post subject:  Re: 10.4 A Complete System
I'm good down to Sup1. The position is small and balanced by a few winners. Would only bail early at the moment if WMS1 doesn't hold at all. I could've easily rode this both ways instead of watching it drawdown first. Too many signals against my gut read. Which I would already have taken profit on. It will only happen once.
Author:  rebyte2 [ Mon Feb 25, 2013 10:19 am ]
Post subject:  Re: 10.4 A Complete System
Keep an eye on EURUSD.... STO5 is in the correct area.

Also, PA hitting up on C Pivot line.
Author:  mjws00 [ Mon Feb 25, 2013 10:24 am ]
Post subject:  Re: 10.4 A Complete System
rebyte2 wrote: The one 'glaring' issue i have with that is the massive bunch of failed 4H candles = resistance.

Besides... USDCHF mimics EURUSD faithfully... so i do not trade it at all.

Only my observations.
I agree. I think the long side of this is greedy and problematic. The only reason I posted it was to show where following the rules somewhat blindly can get you into trouble. Not to mention Reversing mid stream.

I also hope to show that with a little patience it will retest the pivot or high, and not be a disaster. ;)
Author:  mjws00 [ Mon Feb 25, 2013 10:29 am ]
Post subject:  Re: 10.4 A Complete System
allisonmagic wrote:
mjws00 wrote:I'm good down to Sup1. The position is small and balanced by a few winners. Would only bail early at the moment if WMS1 doesn't hold at all. I could've easily rode this both ways instead of watching it drawdown first. Too many signals against my gut read. Which I would already have taken profit on. It will only happen once.
MJ you live ?
For a few years. Forex since 09. Futures, Stocks, Commodities since 96. Sometimes for a living. Sometimes for fun. This is a very good game. :)
Author:  padnoter [ Mon Feb 25, 2013 10:57 am ]
Post subject:  Re: 10.4 A Complete System
allisonmagic wrote:
allisonmagic wrote:Set a buy stop at 1.0550 AUDCAD.

live trades

nevermind, basket triggered long on 7 yen pairs.. long all yen pairs

Hi,
Could you post a yen chart example... maybe it's the rsi/stoch diff.. but i can't see any long entries
:cry:
Cheers
Author:  padnoter [ Mon Feb 25, 2013 11:09 am ]
Post subject:  Re: 10.4 A Complete System
allisonmagic wrote:
padnoter wrote:
allisonmagic wrote:
allisonmagic wrote:Set a buy stop at 1.0550 AUDCAD.

live trades

nevermind, basket triggered long on 7 yen pairs.. long all yen pairs

Hi,
Could you post a yen chart example... maybe it's the rsi/stoch diff.. but i can't see any long entries
:cry:
Cheers

oh my bad.. i'll post that somewhere else for you.. it's completely off topic here...

i was just making note that my entry for audcad stalled out because of my basket trade opened.
oh i see... np.. I thought you meant they were all long jpy 10.4 trades... lol
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