10.4 A Complete System

[nanningbob]

OK my last post until I get to the USA on Monday. See you guys then and try to leave some market pips for me.

[Ingot54]

OK my last post until I get to the USA on Monday. See you guys then and try to leave some market pips for me.

Safe and happy travels, Bob.

[sponn]

OK my last post until I get to the USA on Monday. See you guys then and try to leave some market pips for me.

Have a great and safe trip

[garyfritz]

I am brand new to forex and just learning. I was fortunate enough to find this forum and it looks great. I have read about 50 pages, and am still working my way through. Please forgive me if this has been answered earlier, or if it's a stupid question. Can this system be used on shorter time frame such as 1hour? Has anyone tried it, and what results? Thanks to all, and particularly Bob for the amazing effort.

Yes, someone has -- see Jemook's thread at http://www.stevehopwoodforex.com/phpBB3 ... =38&t=2505 for a 1-hour variant.

HOWEVER: you are a beginner. You should be VERY reluctant to say "this seems to be working well, so how can I change it?" If it works well, DON'T MESS WITH IT. You don't understand the fine details that make this system work, so you shouldn't change things you don't understand.

If Tiger Woods offered to show you how to play golf, would you say "Well that's nice, but I'd really rather hit the ball with a baseball bat. How can I do that?"

Bob developed this technique based on years of market experience. Do what works.

If another experienced trader (like Jemook) comes up with a variant you like, then great. Learn from his experience. But let the experienced guys do the system invention. You have enough to learn already.

When you've been trading for a good long while and have all that experience under your belt, THEN you can start creating your own stuff. In the meantime, learn from the experts.

[pips400]

I am brand new to forex and just learning. I was fortunate enough to find this forum and it looks great. I have read about 50 pages, and am still working my way through. Please forgive me if this has been answered earlier, or if it's a stupid question. Can this system be used on shorter time frame such as 1hour? Has anyone tried it, and what results? Thanks to all, and particularly Bob for the amazing effort.

Hi tkdblkbilt , welcome to forex and to the forum. I wish you every success. You are indeed in a very precious place here and there is a great community of traders that are here to help one another. I would suggest to concentrate your focus (when you're starting out you can get lost on so many options available to you, many empty promises but not here) on Bobs system (and Jem's way of trading it on 1H which is really simple) and then trade as much and often as you can on DEMO, time and time again until it becomes second nature to open and close trades. You'll find it may take time to develop the ability to "see" setups when looking at a chart, but if you put in the hours of chart time, things will begin to fall in place.

Pips400

[garyfritz]

I have a few questions too, sponn...

Entry
1) WP cross no matter what indies says or
2) other line crosses (WS1,MS1,WR1,MR1) but always with flat RSI.

So you don't use CSS, but you only enter when the RSI is "flat" -- meaning it's pinned? E.g. only go long when the RSI is < 5?

I'm amazed you're doing so well without paying any attention to the CSS to filter your trades. I got killed when I entered everything without CSS telling me "what's trending and what's ranging."

Exit
TP at WS/WR
...
4b TP is at WS/WR but again I usually change TP to WS or WR - yeah to WS or WR.

You say "TP is WS/WR, but I change it to WS/WR." ?? Don't understand...

Orders
I use 3 or 4 orders every 20-30 pips.

Do you mean "I enter 3-4 orders in a 20-30 pip range, e.g. 1.0000, 1.0005, 1.0010, 1.0015" ?
Or do you mean "I enter 3 or 4 orders, spaced 20-30 pips apart, e.g. 1.0000, 1.0020, 1.0040" ?

[SteveHopwood]

Ehup guys.

In Bob's absence, I have done some pruning of irrelevant/idiotic posts here.

I will continue to monitor this thread whilst Bob is on holiday.

Capiche?

[Ingot54]

I am brand new to forex and just learning. I was fortunate enough to find this forum and it looks great. I have read about 50 pages, and am still working my way through. Please forgive me if this has been answered earlier, or if it's a stupid question. Can this system be used on shorter time frame such as 1hour? Has anyone tried it, and what results? Thanks to all, and particularly Bob for the amazing effort.

Yes, someone has -- see Jemook's thread at http://www.stevehopwoodforex.com/phpBB3 ... =38&t=2505 for a 1-hour variant.

HOWEVER: you are a beginner. You should be VERY reluctant to say "this seems to be working well, so how can I change it?" If it works well, DON'T MESS WITH IT. You don't understand the fine details that make this system work, so you shouldn't change things you don't understand.

If Tiger Woods offered to show you how to play golf, would you say "Well that's nice, but I'd really rather hit the ball with a baseball bat. How can I do that?"

Bob developed this technique based on years of market experience. Do what works.

If another experienced trader (like Jemook) comes up with a variant you like, then great. Learn from his experience. But let the experienced guys do the system invention. You have enough to learn already.

When you've been trading for a good long while and have all that experience under your belt, THEN you can start creating your own stuff. In the meantime, learn from the experts.

This generous explanation needs to made a sticky somewhere - this is too good to be lost in any thread banter.

GaryFritz - you gracious way of informing Tkdblkblt not to try to invent a new wheel, but to understand how real wheel works and exploit it, deserves better kudos than I can give.

Great post ... Yours too Pips400

[cmeade2]

Unlike last week, it looks like there are a bunch of bona fide 10.4 setups from the start.

[sponn]

Where the hell... LOL. I luv Cowboy IBFX because they start 1H after the market starts (I would never trade live there)...