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10.4 A Complete System
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Author:  cmeade2 [ Tue Feb 26, 2013 8:56 pm ]
Post subject:  Re: shorts on euraud & eurnzd
There's always a break even stop so I won't get nailed.

Let's check in on this later.
allisonmagic wrote:
cmeade2 wrote:I'm not going to jump up and down about this, but I think things are pointing up. I'm good for 30 pips now in a long trade and was up as much as 110 earlier.
allisonmagic wrote:
cmeade2 wrote:You mean you think it is going to the WS1? To be sure it is at the WP but there are a number of reasons why it could break through and keep going.



it could bounce of WMP. all i know is price is below the 240 and rsi2 flattened out, so i set my entry at WP to go short after the break of WP a couple candles ago

cool, well i'm short. hope you don't get nailed
Author:  cmeade2 [ Tue Feb 26, 2013 9:01 pm ]
Post subject:  Re: shorts on euraud & eurnzd
Allison

I just sent a PM to Bob looking for his clarification. There have been a number of people looking for trades very much like your EurNzd short. To be sure, you can say that it is below the 240 and the WP looks to be providing resistance. All of that definitely supports the idea of a short trade.

But as I understand the 10.4 system, you need other flags to come up before you can say it is safe to jump in. Specifically the AO needs to change color from green to red. Or the RSI(2) needs to start moving down significantly from its very high levels.

The fact is that neither of these has happened yet.

And so, I don't think there is anything in 10.4 that would support a short trade at this point (even though you might have other reasons for why you want to do it).

cmeade2
allisonmagic wrote:
cmeade2 wrote:I'm not going to jump up and down about this, but I think things are pointing up. I'm good for 30 pips now in a long trade and was up as much as 110 earlier.
allisonmagic wrote:
cmeade2 wrote:You mean you think it is going to the WS1? To be sure it is at the WP but there are a number of reasons why it could break through and keep going.



it could bounce of WMP. all i know is price is below the 240 and rsi2 flattened out, so i set my entry at WP to go short after the break of WP a couple candles ago

cool, well i'm short. hope you don't get nailed
Author:  Rossobonks [ Tue Feb 26, 2013 9:05 pm ]
Post subject:  Re: 10.4 A Complete System
Basically the only thing against the eurnzd short trade according to the rules of this strategy is the fact that the AO has not popped up about the zero line.
Gbpnzd currently meets all the rules so pending orders (1st @ R1) have been placed.
Author:  cmeade2 [ Tue Feb 26, 2013 9:09 pm ]
Post subject:  Re: shorts on euraud & eurnzd
Again I hope Bob will clarify.

When he says you start "setting your entries" when the RSI(2) has flattened out (high in this case), I think he means exactly that. Basically he is saying "get ready", but he is not saying "make a trade".

I have considerable inside information on this as I played a key role to help Bob develop this system. From our past discussions it seemed clear that the flat and pinned RSI(2) was a great set up. But you needed to see it break before you get in.
allisonmagic wrote:
cmeade2 wrote:There's always a break even stop so I won't get nailed.

Let's check in on this later.
allisonmagic wrote:
cmeade2 wrote:I'm not going to jump up and down about this, but I think things are pointing up. I'm good for 30 pips now in a long trade and was up as much as 110 earlier.
allisonmagic wrote:
cmeade2 wrote:You mean you think it is going to the WS1? To be sure it is at the WP but there are a number of reasons why it could break through and keep going.



it could bounce of WMP. all i know is price is below the 240 and rsi2 flattened out, so i set my entry at WP to go short after the break of WP a couple candles ago

cool, well i'm short. hope you don't get nailed

well based on the rules of this system, it says anything below 240 is short. so that's why i took the entry at WP as soon as the rsi2 flattened out.

also, it says in the PDF that when rsi2 is flat, you start setting your entry's ..so is the rules of the system wrong ?
Author:  cmeade2 [ Tue Feb 26, 2013 9:13 pm ]
Post subject:  Re: 10.4 A Complete System
I am definitely not telling you are wrong. I think you have raised an important issue that needs further clarification, because as I said, I have seen a bunch of posts reflecting similar thinking on the "setting your trade" issue.

That's why I have asked Bob for clarification and I'm sure he will weigh in.
allisonmagic wrote:either way.. i'm short on this one.. i'll lose or i will win. if you guys want to keep telling me how to trade and what i'm doing is wrong, that's your problem..
Author:  Rossobonks [ Tue Feb 26, 2013 9:14 pm ]
Post subject:  Re: 10.4 A Complete System
allisonmagic wrote:
Rossobonks wrote:Basically the only thing against the eurnzd short trade according to the rules of this strategy is the fact that the AO has not popped up about the zero line.
Gbpnzd currently meets all the rules so pending orders (1st @ R1) have been placed.

well i set my pending at WP, when price was above it.. price moved down and triggered the trade.. as you can see in the examples in the PDF, he was setting entry's as price moved up and RSI2 flattened out

Yes I agree. I entered at market price because I was around at the time. Time will tell whether we have a win or loss trade. At the end of the day we are with TREND and looking for a leg down to the 1.56 region.
Author:  cmeade2 [ Tue Feb 26, 2013 9:15 pm ]
Post subject:  Re: 10.4 A Complete System
Based on the recent EurNzd price action and the approaching end of day, I would definitely close that short.
allisonmagic wrote:
Rossobonks wrote:Basically the only thing against the eurnzd short trade according to the rules of this strategy is the fact that the AO has not popped up about the zero line.
Gbpnzd currently meets all the rules so pending orders (1st @ R1) have been placed.

well i set my pending at WP, when price was above it.. price moved down and triggered the trade.. as you can see in the examples in the PDF, he was setting entry's as price moved up and RSI2 flattened out
Author:  sponn [ Tue Feb 26, 2013 9:16 pm ]
Post subject:  Re: 10.4 A Complete System
NZD news in half an hour... hard to say which way market is going to move
Author:  cmeade2 [ Tue Feb 26, 2013 9:17 pm ]
Post subject:  Re: 10.4 A Complete System
Even though FF has it rated pretty low, there is no doubt that things can go pretty wild for Nzd in response to news.
sponn wrote:NZD news in half an hour... hard to say which way market is going to move
Author:  cmeade2 [ Tue Feb 26, 2013 9:22 pm ]
Post subject:  Re: 10.4 A Complete System
I totally understand how you came to your views. But as I said, I think there has been a misunderstanding of Bob's original intention.

Stand by and we'll get more information.
allisonmagic wrote:
cmeade2 wrote:I am definitely not telling you are wrong. I think you have raised an important issue that needs further clarification, because as I said, I have seen a bunch of posts reflecting similar thinking on the "setting your trade" issue.

That's why I have asked Bob for clarification and I'm sure he will weigh in.
allisonmagic wrote:either way.. i'm short on this one.. i'll lose or i will win. if you guys want to keep telling me how to trade and what i'm doing is wrong, that's your problem..

right.. i'm just trading the way i was told.. this is how i was told to trade based on the rules of the system..
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