Please see my answers in red
1. Wait for a decent retracement. Better if price is at a pivot or support (WP, WS1, WS2, MS1, MS2)
-> so even if it retrace to MS2 you will enter a position too?
Yes, I'll enter anywhere that has good R:R for a trade
4. Risk 1% per trade and place stop "out of reach*" using Easy Order to calculate the position size.
-> i assume this stop is purely for times when price spikes away from you?
I never want a full stopout. It's important to give the SL enough distance so there's a chance to close the trade if H1 CSS closes opposite way before it hits the SL. At the same time it should give you at least 1:1 R:R to the TP so if the SL is 180 pips away the TP of WS1 or WR1 should be 180 pips or more away from entry.
5. Aim for TP of WR1 OR close any trade early if the H1 CSS colour changes back to red (or grey if extra cautious).
-> even if i enter at MS2 i aim for WR1? or do you go level by level?
Yes TP always WR1 or WS1
6. i assume you are trading the weekly pivots, and you ignore the daily pivots?
Correct, I don't use DP
Please remember this is intended to be a manual strategy and an EA will never have the gut feel that a trader gets about a trade. I enter and exit way before the colour changes sometimes but the main idea stays the same.
Cheers,
J
How to Trade 10.x Like a Boss
- Jemook
- Trader
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- Location: Bondi, Sydney, Australia
Re: How to Trade 10.x Like a Boss
Please note I am no longer affiliated with Global Prime. I've moved on to my next adventure with Afterprime.
Catch me here: https://www.afterprime.com
Catch me here: https://www.afterprime.com
- Jemook
- Trader
- Posts: 1075
- Joined: Thu May 10, 2012 10:19 am
- Location: Bondi, Sydney, Australia
Re: How to Trade 10.x Like a Boss
Yep! I agree with the H4 5.1 - I don't use it anymore but it's a great trigger. Try that and see how you go.. but if the above example trade is blue and you trigger short before colour change to YELLOW/RED how will the EA close if it keeps going up? I still think you can enter on an H1 YELLOW / RED close and shut it if it closes BLUE.
Please note I am no longer affiliated with Global Prime. I've moved on to my next adventure with Afterprime.
Catch me here: https://www.afterprime.com
Catch me here: https://www.afterprime.com
- Jonathan2FI
- Trader
- Posts: 119
- Joined: Fri Jun 15, 2012 9:26 am
- Location: Birmingham, Frankfurt, Brussels
Re: How to Trade 10.x Like a Boss
Jem,
Interesting your take on 10x - after a period when my trading was not in the right place I have found myself trading 10x in a very similar style to your explanation above for part of my trading week - and it works. I am principally EOD trader - however I occasionally find myself with a little extra time and go into charts with an H1 hat on (with the discipline not to trade if nothing there!). So I am mixing H1 with H4.
Fundamentals the same 240 for H4 or 960 for H1 all LWMA, RSI2 retracement, pivots used ws1 s2 r1 r2 as targets (we do not want to get carried away must have realistic targets).
I do introduce daily s&r and TL into my analysis but hey you would not want me to trash all previous trading knowledge or experience or.....)
Target 10% per month long term live seems very realistic
Question do you know any variation of the 10x for daily that I should look at or am I wasting my time and other resources and should stick to H1 and H4? The account calc. I imagine will be something along the lines of missed trades H1 & H4 Vs. bigger DD on D1 -- ?
Jonathan
Interesting your take on 10x - after a period when my trading was not in the right place I have found myself trading 10x in a very similar style to your explanation above for part of my trading week - and it works. I am principally EOD trader - however I occasionally find myself with a little extra time and go into charts with an H1 hat on (with the discipline not to trade if nothing there!). So I am mixing H1 with H4.
Fundamentals the same 240 for H4 or 960 for H1 all LWMA, RSI2 retracement, pivots used ws1 s2 r1 r2 as targets (we do not want to get carried away must have realistic targets).
I do introduce daily s&r and TL into my analysis but hey you would not want me to trash all previous trading knowledge or experience or.....)
Target 10% per month long term live seems very realistic
Question do you know any variation of the 10x for daily that I should look at or am I wasting my time and other resources and should stick to H1 and H4? The account calc. I imagine will be something along the lines of missed trades H1 & H4 Vs. bigger DD on D1 -- ?
Jonathan
- SteveHopwood
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Re: How to Trade 10.x Like a Boss
http://www.stevehopwoodforex.com/phpBB3 ... =37&t=1492batemap wrote:Hi JemJemook wrote:There's scripts now which will auto close if CSS H1 colour changes so no excuses!!
J
Where's this script? I've seen the scripts Lifesys posted, but these don't seem to fit the bill for closing at CSS colour change.
Cheers
Paul
Read the effing manual, ok?
Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.
I still suffer from OCCD. Good thing, really.
Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.
To see The Weekly Roundup of stuff you guys might have missed Click here
My special thanks to Thomas (tomele) for all the incredible work he does here.
Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.
I still suffer from OCCD. Good thing, really.
Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.
To see The Weekly Roundup of stuff you guys might have missed Click here
My special thanks to Thomas (tomele) for all the incredible work he does here.
-
- Trader
- Posts: 68
- Joined: Mon Jun 10, 2013 4:14 pm
Re: How to Trade 10.x Like a Boss
Hi guys, anybody done a simple dashboard to monitor potential set-ups for this please? It's not that I am lazy to monitor all the 27 charts I have got opened, it's just that with that amount of charts opened and all the indis on each chart, I find out that switching back and forth between charts slows down my Empty4 considerably and sometimes causes it to crash! With a simple dashboard (or maybe an excel spreadsheet or something), one can see which pair has a potential set-up at the moment and just open the chart for that pair and monitor. Many thanks
-
- Trader
- Posts: 18
- Joined: Mon May 27, 2013 10:11 pm
- Location: Adelaide, South Australia
Re: How to Trade 10.x Like a Boss
Hi Folks.SteveHopwood wrote:Ian, the code for this indi is decompiled code. Are you breaking someone's copyright by posting it, because if so we had better remove it?IanV wrote:Just as a matter of interest, take a look at this little trend indi.
I use it on all my charts.
It's a histo and can be squished down to a thin line at the bottom of the chart.It changes colour before the CSS.
Getting going with your simplified 10x system.
Question.
When you say the RSITMS line is "pinned" does it need to have just touched or does it need to run along the 0 or 100 or go over those or what?
Cheers
- Ingot54
- Trader
- Posts: 249
- Joined: Sun Feb 03, 2013 12:07 pm
- Location: Sunshine Coast, Queensland
Re: How to Trade 10.x Like a Boss
Hi IanIanV wrote: My computer does not like CSS so I use this indie on all my charts.
Take a look at my post here, to help with your CPU issues:
http://www.stevehopwoodforex.com/phpBB3 ... 628#p65628
It may make a difference.
Ivan
In some haystacks there is no needle
-
- Trader
- Posts: 459
- Joined: Thu May 24, 2012 12:51 pm
- Location: Washington DC
Re: How to Trade 10.x Like a Boss
Jem
In a previous post, you said you didn't use the DP for your entries on your 10.4 approach.
I would point out, however, that sometimes it can be useful. Last night there were a bunch of pairs where the CSS changed color in the direction of the appropriate 10.4 trade, potentially signalling an entry with your approach.
One example was the EurAud noted below. The key point is the price was just below the DP when the bar turned green, and for the most part it never cleared the DP. In cases like this, I view clearing the DP as the key criterion for entering the 10.4 trade.
There were a bunch of other similar examples from last night.
Right now, I note that the H1 and H4 RSI(2) are converging at the bottom which might signal a short.
All the best
cmeade2
In a previous post, you said you didn't use the DP for your entries on your 10.4 approach.
I would point out, however, that sometimes it can be useful. Last night there were a bunch of pairs where the CSS changed color in the direction of the appropriate 10.4 trade, potentially signalling an entry with your approach.
One example was the EurAud noted below. The key point is the price was just below the DP when the bar turned green, and for the most part it never cleared the DP. In cases like this, I view clearing the DP as the key criterion for entering the 10.4 trade.
There were a bunch of other similar examples from last night.
Right now, I note that the H1 and H4 RSI(2) are converging at the bottom which might signal a short.
All the best
cmeade2
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- Trader
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- Joined: Thu May 24, 2012 12:51 pm
- Location: Washington DC
Re: How to Trade 10.x Like a Boss
After a bunch of signals with no follow through, things are working out well now for
Short: AudChf, Cadjpy, CadChf, Nzdchf, Usdjpy, UsdChf
Long EurUsd Gbpcad, GbpUsd
All 10.4 trades
Short: AudChf, Cadjpy, CadChf, Nzdchf, Usdjpy, UsdChf
Long EurUsd Gbpcad, GbpUsd
All 10.4 trades
- SteveHopwood
- Owner
- Posts: 9754
- Joined: Tue Nov 15, 2011 8:43 am
- Location: Misterton - an insignificant village in England. Very pleasant to live in.
Re: How to Trade 10.x Like a Boss
I had the signals but the trades never materialised, so I have knocked off for the weekend. Great to see another with the same signals.cmeade2 wrote:After a bunch of signals with no follow through, things are working out well now for
Short: AudChf, Cadjpy, CadChf, Nzdchf, Usdjpy, UsdChf
Long EurUsd Gbpcad, GbpUsd
All 10.4 trades
Read the effing manual, ok?
Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.
I still suffer from OCCD. Good thing, really.
Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.
To see The Weekly Roundup of stuff you guys might have missed Click here
My special thanks to Thomas (tomele) for all the incredible work he does here.
Afterprime is the official SHF broker. Read about them at https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?p=175790#p175790.
I still suffer from OCCD. Good thing, really.
Anyone here feeling generous? My paypal account is always in the market for a tiny donation. [email protected] is the account.
To see The Weekly Roundup of stuff you guys might have missed Click here
My special thanks to Thomas (tomele) for all the incredible work he does here.