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10.4 A Complete System
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Author:  johnf [ Fri Jul 19, 2013 11:23 pm ]
Post subject:  Re: 10.4 A Complete System
zentauro67 wrote:
johnf wrote:I like a clean chart. Does anyone know how to remove the 10.4 WMP and 10.4 WP Gold, Lime and Orange Red from the main chart but retain the values and of course the main line on the right margin. I have done it but the moment I place the saved template, it immediately returns to the original settings.
Thanks
Just set "bars to process" to 1, 2 or 3 to have a little reference in the shift area.


Thank you so much...much appreciated
Author:  Pedigree [ Sat Jul 20, 2013 1:22 am ]
Post subject:  Re: 10.4 A Complete System
rosst wrote:... I limit my trades to only what I consider the best set ups. I usually trade maybe 1 or 2 pairs. I do keep my lot sizes small to withstand any drawdown or losses. I have been trading live for 5 months - have made 161 trades with 102 wins, 36 losses & 18 scratches. my account has increased by about 10% - I know - not getting rich here like the guys over on CJ's thread but I am ok with it - I figure I am in it for the long haul and hopefully will get better and am definitely not figuring out my hourly rate - but I don't figure out my hourly rate out in my garden either. I guess I am a true loser! LOL!!! BUT I am having FUN!!!!
I wish you wouldn't call yourself a loser. Everyone must do what they are comfortable with and have some fun doing it. It seems to me that's what you are doing and I'll call that a winning formula.

It's good to let others' results inspire you, but you must be challenged only by one person alone - Yourself. And the challenge? To be the best that you can be and then watch it reflect in everything you do, forex included. If you ask me, I think the only way is up for you.
Author:  rosst [ Sun Jul 21, 2013 3:04 pm ]
Post subject:  Re: 10.4 A Complete System
Thanks!
Author:  VirtualFM [ Sun Jul 21, 2013 11:31 pm ]
Post subject:  Re: 10.4 A Complete System
Hey guys!

This week didn't go so good for me, but it was essentially my own fault because I'm an idiot.

So, like I said before, Monday was cool as it solved all the mess left behind last week. But then on Tuesday I ended up with a ton of trades and got overexposed. So I lost a big deal of trades on that day, and spent the rest of the week slowly recovering from the disaster.


In the end it turned out positive for the week, but not by much and now am again in the situation of an huge DD.

It's not the technique's fault, it's just that with such small account as I have I can't freely start to trade anything, as with this technique it's easy to get into 4 or 5 (or even more) trades per pair... and the problem is that it's (5 trades) x (many pairs) and suddenly I find myself with 60+ trades!

As soon as I get rid of this entanglement I got into, I will try to keep trades to 2 or 3 pairs at a time.

Here's the chart:
Author:  will80 [ Mon Jul 22, 2013 3:23 am ]
Post subject:  Re: 10.4 A Complete System
Quick question for everyone:

How are you managing your trade exits? I've been looking at chandelier exits based on ATR, closing out the trade at the next major s/r level (H4 & above), and simply trailing at a static 30pips.

Of all these the chandelier seems to work best, with a static 30pip trailing the worst. Can anyone recommend an EA that will simply handle the exits for me based on a 4hr chandelier exit?
Author:  camelx0 [ Mon Jul 22, 2013 11:08 am ]
Post subject:  Re: 10.4 A Complete System
will80 wrote:Quick question for everyone:

How are you managing your trade exits? I've been looking at chandelier exits based on ATR, closing out the trade at the next major s/r level (H4 & above), and simply trailing at a static 30pips.

Of all these the chandelier seems to work best, with a static 30pip trailing the worst. Can anyone recommend an EA that will simply handle the exits for me based on a 4hr chandelier exit?
I have posted something on this exact exit with chandelier a few weeks ago. One way to manage the exit automatically is to use the MPTM, which has a number of exits including the ATR. It doesn't have chandelier but it can be added pretty quickly.

B.t.w I have also been using a 30 pip trailing but agree that it is a hit and miss.
Author:  Ingot54 [ Mon Jul 22, 2013 1:20 pm ]
Post subject:  Re: 10.4 A Complete System
VirtualFM wrote:This week didn't go so good for me ... it's just that with such small account as I have ... it's easy to get into 4 or 5 (or even more) trades per pair... and the problem is that it's (5 trades) x (many pairs) and suddenly I find myself with 60+ trades!

As soon as I get rid of this entanglement I got into, I will try to keep trades to 2 or 3 pairs at a time.
VFM - I don't think the problem is the small account.

Hint: Did you EVER hear Bob talking about taking 60+ positions??
Hint: Do you know what a 2% of account risk is?
Hint: If you are getting into trouble with your trades ... why are you risking so much with a small account?

Look ... I know you are hurting over this, but settle down and take your time. There is no rush to multiply your account x 100. You do have time to learn this ... and you will.

Can I offer some help? Try to pick a pair ... one pair ... that is clearly setting up.
Now forget there is ANYTHING else out there to trade - this ONE pair is your intense focus.
Ok - you now have to nail this ONE trade, and manage it to its end.

Do it once ... do it well ... rinse and repeat.

None of us are Bob. Oh yes - many have tried to follow and take multiple trades in several pairs ... but it is a management nightmare for beginners. Bob has knowledge and the right tools, which he plays like a violin when the market begins to move.

Yet many of us can't even read the music yet, and we want to play a concerto.

Take your time and trade one pair ... one setup ... at a time, until you can do it with ease.
And keep your positions manageable - otherwise you won't only have the market to deal with, you'll also be contending with your own fear of loss, and your above posting will once again be the result.

Take it easy - you are clearly finding trades ... but there is no rule that says "take them all."
Author:  TraderDesk [ Mon Jul 22, 2013 1:57 pm ]
Post subject:  Re: 10.4 A Complete System
Ingot54 wrote:
VirtualFM wrote:This week didn't go so good for me ... it's just that with such small account as I have ... it's easy to get into 4 or 5 (or even more) trades per pair... and the problem is that it's (5 trades) x (many pairs) and suddenly I find myself with 60+ trades!

As soon as I get rid of this entanglement I got into, I will try to keep trades to 2 or 3 pairs at a time.
VFM - I don't think the problem is the small account.

Hint: Did you EVER hear Bob talking about taking 60+ positions??
Hint: Do you know what a 2% of account risk is?
Hint: If you are getting into trouble with your trades ... why are you risking so much with a small account?

Look ... I know you are hurting over this, but settle down and take your time. There is no rush to multiply your account x 100. You do have time to learn this ... and you will.

Can I offer some help? Try to pick a pair ... one pair ... that is clearly setting up.
Now forget there is ANYTHING else out there to trade - this ONE pair is your intense focus.
Ok - you now have to nail this ONE trade, and manage it to its end.

Do it once ... do it well ... rinse and repeat.

None of us are Bob. Oh yes - many have tried to follow and take multiple trades in several pairs ... but it is a management nightmare for beginners. Bob has knowledge and the right tools, which he plays like a violin when the market begins to move.

Yet many of us can't even read the music yet, and we want to play a concerto.

Take your time and trade one pair ... one setup ... at a time, until you can do it with ease.
And keep your positions manageable - otherwise you won't only have the market to deal with, you'll also be contending with your own fear of loss, and your above posting will once again be the result.

Take it easy - you are clearly finding trades ... but there is no rule that says "take them all."
Well said.... Could not agree more.
Author:  zentauro67 [ Mon Jul 22, 2013 2:07 pm ]
Post subject:  Re: 10.4 A Complete System
Hector Deville´s trend following system is quite poor compared to Bob´s 10.4. But it has a golden rule that could be imported. Hector says: NO TREND, NO TRADE. Before anything, he tries to determine if a pair is trending well or not. I try to use my eyes to decide that: 240 is sloping or flat gives me the first hint. Also there are over there 'range factor' indis but I don´t trust them very much.

Hector uses a little trick that works very well as a range/trend filter. He plots 30, 50, 100 SMA. If the three are running parallele (and in order) the trend is healthy and you can try to catch the swings. If there is any cross between them the trend is dubious and you should stay out. Under a choppy market, sometimes, when I spot a 10.4 valid setup, before taking any trade I apply that Hector´s old template (30, 50, 100 SMA) just to check out the health of the trend. In trending markets this is not that useful but in moments of incertanity (as the present time) is a good filter to increase the safety of the trade.

30,50, 100 SMA HEALTHY TREND FILTER

AUDNZD is trending fine. Three MAs are running parallele and have a nice slope.
audnzd.jpg

GBPJPY has a nasty cross (30 -green- crossed 50 -red- ). So, the trend is dubious.
gbpjpy.jpg

Well, maybe this is too safe. You can´t find too much setups in 4H under this system as if you use only 240 but it can help in difficult markets to avoid DD.
Author:  art [ Mon Jul 22, 2013 3:46 pm ]
Post subject:  Re: 10.4 A Complete System
hi guys, trying to catch up a bit, where do i find bobs simple system, using the 60 MA, cheers
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