10.4 A Complete System

[forexripper]

Thanks Bob for a lovely system. As always, excellent and bravo are the words which come to mind for you when I read your booklets.

I suggest to better grasp the concepts and be able to follow your footsteps, would you mind posting the trade staken on a daily basis with little commentary so we can all follow and perhaps trade accordingly.

Thanks

[lhDT]

I need a setup confirmation on USDCAD buy-stop.

1- Price in an uptrend (above white line)
2- RSI 2 bottoming
3- I set a buy-stop at the nearest Pivot above the price ? In this case, weekly mid-pivot orange dashed line.
Is this correct ?

Also, the MM panel shows allocation but only for the current price VS the white line right ?
So for pending orders, we need to calculate the position size manually also against the white line or something else ?

Thx,
Lio

[barnov]

@lhDT

For what it's worth and I'm no expert, learning like you, but I have exactly the same, my pending order is set just above WMR1.

As for your 2nd question, my understanding of the indi is that it offers you an indicative view of lot sizes that could be used for 0.5%,1% & 2% risk assuming a starting balance of £/$1000, where the SL is x pips, and in your piccy, x = 55.2 (distance of price from 240MA). So depending on where you personally wish to place your SL, you would pro-rata using the indicative lot sizes based on your own risk appetite.

Hopefuly my understanding is correct

@Bob
Many thanks for this excellent system and the time and effort you've put into it , along with the other gurus on this board who have supported you . Best Wishes for an enjoyable trip to see the family back in US.

Regards

Paul.

[SteveHopwood]

I need a setup confirmation on USDCAD buy-stop.

1- Price in an uptrend (above white line)
2- RSI 2 bottoming
3- I set a buy-stop at the nearest Pivot above the price ? In this case, weekly mid-pivot orange dashed line.
Is this correct ?

Also, the MM panel shows allocation but only for the current price VS the white line right ?
So for pending orders, we need to calculate the position size manually also against the white line or something else ?

Thx,
Lio

FWIW, I have a pending set at 1.10037, the wmp. SL will be the white line - 10.4 mptm will take care of that.

I am already planning some software to help with order sending. Here is what I am thinking. The ea is a manual trading aid and when dragged onto the chart should:

• determine the direction to trade.
• set the pending at the next point of s/r.
• calculate the stop loss.
• calculate the take profit on the basis of user settings - WR1, WR2, x pips etc

Subsequent trade management needs to be down to mptm, so some work to be done there.

Any ideas to add, guys?

[fmuir]

The 'NT TMATrue SlopeHisto MTF' indi is causing error messages about not being able to find a subwindow (?) to be added to the expert log because the name used in IndicatorShortName() as a parameter doesn't match the name used in the WindowFind() which is used as a parameter in the ObjectCreate(). Until it is corrected, you may want to delete any of your expert logs that have grown abnornally large.

I don't have the source for that indi, and source wasn't included in the package for 10.4 posted by nanningbob.

Regards,
-Frank

[kwanann]

To illustrate my question better.
A few days back, GBPUSD, overall bearish.
entry at S1, but was a fake break, now moving towards stoploss.
How to handle upcoming additional signals?

thanks again,
Aristides.

2013-02-13_1825.png

Actually when the histo goes below zero its time to exit, especially when the value is more than -0.4. This is the reason why I do not want to trade now. What with the g20 meetings, prices are going everywhere while the governments decide what they want to do. One minute it can go up a 100pips the next it goes right down

[barnov]

I am already planning some software to help with order sending. Here is what I am thinking. The ea is a manual trading aid and when dragged onto the chart should:
determine the direction to trade.
set the pending at the next point of s/r.
calculate the stop loss.
calculate the take profit on the basis of user settings - WR1, WR2, x pips etc

Subsequent trade management needs to be down to mptm, so some work to be done there.

Any ideas to add, guys?

Steve - regarding setting the pending at the next point of s/r - is it worth considering a variable allowing us to set x pips above/below i.e some people may wish to set the pending order just 1 pip above/below s/r, whilst others may prefer 2 or 3 or more - similar principle for x pips above / below target WRs/WSs etc.

It's just that I noticed from Bob's piccys that his entries/exits appear slightly varying distances from his entry/exit points

Just a thought

Regards

Paul

[APQN]

I need a setup confirmation on USDCAD buy-stop.

1- Price in an uptrend (above white line)
2- RSI 2 bottoming
3- I set a buy-stop at the nearest Pivot above the price ? In this case, weekly mid-pivot orange dashed line.
Is this correct ?

Also, the MM panel shows allocation but only for the current price VS the white line right ?
So for pending orders, we need to calculate the position size manually also against the white line or something else ?

Thx,
Lio

FWIW, I have a pending set at 1.10037, the wmp. SL will be the white line - 10.4 mptm will take care of that.

I am already planning some software to help with order sending. Here is what I am thinking. The ea is a manual trading aid and when dragged onto the chart should:

• determine the direction to trade.
• set the pending at the next point of s/r.
• calculate the stop loss.
• calculate the take profit on the basis of user settings - WR1, WR2, x pips etc

Subsequent trade management needs to be down to mptm, so some work to be done there.

Any ideas to add, guys?

Sounds like just what we need Steve.

For some reasons I can't find and EA for 10.4 mptm on the front page. Should I be looking elsewhere?

[SteveHopwood]

I am already planning some software to help with order sending. Here is what I am thinking. The ea is a manual trading aid and when dragged onto the chart should:
determine the direction to trade.
set the pending at the next point of s/r.
calculate the stop loss.
calculate the take profit on the basis of user settings - WR1, WR2, x pips etc

Subsequent trade management needs to be down to mptm, so some work to be done there.

Any ideas to add, guys?

Steve - regarding setting the pending at the next point of s/r - is it worth considering a variable allowing us to set x pips above/below i.e some people may wish to set the pending order just 1 pip above/below s/r, whilst others may prefer 2 or 3 or more - similar principle for x pips above / below target WRs/WSs etc.

It's just that I noticed from Bob's piccys that his entries/exits appear slightly varying distances from his entry/exit points

Just a thought

Regards

Paul

Will do. Makes sense.

[lhDT]

FWIW, I have a pending set at 1.10037, the wmp. SL will be the white line - 10.4 mptm will take care of that.

Great. Same here, the TP is just so far away 35pips at 1.0071 (Weekly resistance) but ... we can get another entry at the WP.

Should be awesome to get some mobile notification so I can set the template on a VPS and get alerted when :
- Bar close below/above MA
- RSI2 in OS or OB zone
- Color change (red/green)