10.6 EDSEL

[tmchan]

@fx8000, that is exactly true. the important thing that we take note these past events in our mind, and maybe be able to recognize it more in the future.

Lost quite a lot in audchf because of wrong stoploss and the news. But, was able to gain back from the NZD trades. Most importantly, learned a lot this week.

[fx800]

Now waiting for the NZD pairs to retest 60 ma on H4 for possible shorts.

NZD and AUD tend to move big during the asian session, and not suited to those of us in Europe if we value our beauty sleep.

[nanningbob]

ok so im done for the week,

while there were mistakes, and plenty of them, the trade the trend, allows a newbie to make some and still come out roses.
Gotta to give credit, first and formost to Nanningbob for this wonderful system.
to the GBP who really saved my ass,
to my annoying puppy, for if it wasnt for his 4am wake ups and play in the snow rather then a quick pee and back to bed, I would have missed this parade, as I am in one of the worst timezones to trade forex in. EST

That is funny. I have an annoying cat that jumps on my bed at night, so sometimes I take a peak that afternoon USA session.

[Anonymous]

If you had not been alerted by Bob earlier about the impending NZD turn around, this perfectly valid 10.4 setup would have failed, as the H4 bar was green at the time, and STO7 had earlier signalled > 20/40.

So the method is not as easy as it seems.

[astral77]

Hi BOB

I have been on a 18 month FOREX Sabbatical. Running two businesses and doing forex was consuming 20 hours of my day, My health and family life were suffering as a result. So I decided that Forex had to wait till such a time that I could do it full time. So this year I am conducting an experiment to see if I have what it takes to be a full time trader. My wife thinks that I have gone bonkers (i.e. Senile) but we will see. After a such a gap need to brush up on the knowledge base and start sometime in February or March.

As you recall our biggest problem with CT was the DEATH trades which were at times wiping off big chunks of our profits. CSS will help us in limiting our losses. Your point regarding positive swap pairs is quite valid. Just have a look at this trade (attached image) which I left running and forgot it for fun with criminal Cowboy IBFX. It has been running for 18 months and if it was not for the negative swap would have been in profit by 700 pips. IMHO if you trade a pair in middle of its rang of last 12 months and keep it long enough it will be in profit eventually, even if it goes against you at the beginning. I Keep this trade to remind myself of the merits of your teachings.

You are the only trader I know who has been consistently profitable for the last five years. IMHO your combination of 10.6 and 5.3 will be a formidable weapon for any trader. It is going to be an interesting year. Will keep you posted.

Kind Regards

[nanningbob]

If you had not been alerted by Bob earlier about the impending NZD turn around, this perfectly valid 10.4 setup would have failed, as the H4 bar was green at the time, and STO7 had earlier signalled > 20/40.

So the method is not as easy as it seems.

I always say this and it is something I learned in my first years of trading. Fundamentals always trump indicators. When they come into play they will dominate. The CSS is basically a fundamental indicator telling us what the overall fundamental of a currency is. Is it weakening, strengthening, slowing down, speeding up? These are fundamentals. From studying these CSS charts I noticed that the NZD trails the AUD most of the time. In other words the fundamental is where the aud goes the nzd will follow.

My 10.6 relies on reading the CSS first and then going to the charts to trade. It told me the aud was dropping and ready to cross the 0 line, which means DT territory. So following protocol I started looking for signs of reversals on the NZD currency crosses. I mentioned the nzd/chf as an example. I had closed all my nzd buy trades to prevent DD. I placed a couple of trades above the previous highs and looked to see if I would get a breakout. Well the news story did it for the gbp/nzd.

The CSS tells you where to go look and what to look for. I also mentioned that the aud, nzd, and jpy are seldom on the same side of the 0 line. Which one was going to break?? I didnt know. The AUD news story broke. So I began to look for signs on the NZD. I placed some trades and bingo it worked.

Since Nov. 1 NZD cross pairs account for 43 of my won pips or 43% of my winnings. I cant tell you how powerful that information is and how much it helps my profitability. Unless some unusual outside force affects this relationship I will be selling the NZD until I see the AUD change directions. Then I know I have a day or two to prepare to reverse directions. The bottom line is I could make a living just doing that one series of trades. Follow the AUD on the CSS and then trade the NZD. You could probably retire in 3-5 years with that information alone in trading. It is there as long as the aud:nzd relationship exists.

[nanningbob]

NZD cross pair trades today alone 300+. Of course most of that was the gbp/nzd and I walked into an unexpected news story. Sometimes you get lucky and you catch a move.

[nanningbob]

Hi BOB

I have been on a 18 month FOREX Sabbatical. Running two businesses and doing forex was consuming 20 hours of my day, My health and family life were suffering as a result. So I decided that Forex had to wait till such a time that I could do it full time. So this year I am conducting an experiment to see if I have what it takes to be a full time trader. My wife thinks that I have gone bonkers (i.e. Senile) but we will see. After a such a gap need to brush up on the knowledge base and start sometime in February or March.

As you recall our biggest problem with CT was the DEATH trades which were at times wiping off big chunks of our profits. CSS will help us in limiting our losses. Your point regarding positive swap pairs is quite valid. Just have a look at this trade (attached image) which I left running and forgot it for fun with criminal Cowboy Cowboy IBFX. It has been running for 18 months and if it was not for the negative swap would have been in profit by 700 pips. IMHO if you trade a pair in middle of its rang of last 12 months and keep it long enough it will be in profit eventually, even if it goes against you at the beginning. I Keep this trade to remind myself of the merits of your teachings.

You are the only trader I know who has been consistently profitable for the last five years. IMHO your combination of 10.6 and 5.3 will be a formidable weapon for any trader. It is going to be an interesting year. Will keep you posted.

Kind Regards

Welcome back and learn that CSS page inside and out. It is the most powerful tool I have ever used in Forex. Works better than anything on the market. Steve if you are reading this I recommend Astral for battle scarred veteran. He's been around the block a few times and worth listening to. So whatever hoops he needs to get the designation he has my vote.

[nanningbob]

Friday night retracements. The euro close is less than an hour away. After it closes many traders will take their profits and go home on a strong runup. Put a 30 MA on the 5M chart and wait for price to retreat. When it crosse the 30 enter and use the 30 as your SL. Sometimes you can catch a nice retracement on these run ups. When it gets to 25% and price quits moving close up and call it a day. You probably can catch several good profit taking on the GBP today. I have set my trades and time for bed. I will get up in 3 hours and close the winners then back to bed. Night.

[nanningbob]

those retracements were duds.

I will be in the Santa Clara CA. area Feb 3-12 to see my son. If anyone wants to say hi let me know.