HGI

[ivanlabrie]

Lamshakey, I started out doing something similar with very high leverage and had my balance grow 5x in a month...so you gotta be doing something right.
Now that I'm more conservative and use a stoploss, I get stopped more often and don't make as much money.
I know expecting a 5x increase per month, every month is a bit ridiculous, but well, trading more properly feels sluggish in comparison heh.
I wouldn't dare doing the same thing anymore though, HGI gives more than enough setups to make good money without gambling so much.

[astral77]

... I took 48 losing trades this week or almost 10 a day average. It doesnt stop me from trading and I still made a profit...

HI BOB

When you have some spare time can you please elaborate more on this in your http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3627 thread. I always enjoy your posts regarding how to get out of losing trades and I am sure many people would benefit from it. It goes without saying that this aspect of your trading is comprehensively illustrated in your old threads in forexfactory but people often find it daunting to go through few hundred pages of old posts which imho is well worth it but somewhat off putting.

Kind regards

[milanese]

Some time ago Bob asked here for a BE-Line indicator that can include pending orders, I did modifiy some indicator for this, but the published version worked only when all orders had them same lotsize, find attached here, thanks to a request I received, I modified to work with different lotsizes.

AverageOrder_wPendingsD.mq4

Cheers

Tommaso

[wdpc18]

Hey Nidolap . . . and Grant, thank you for PM.

Basically I am afraid my explanation may be a little disappointing and unsatisfying to you guys.

I am not a very sophisticated, or technical trader. I am more the casino type. . . . high probability for trade to get into bankable pips, then take some profit (or loss). This is why over the last 8 years I have only EKED profit rather than shoveling them in. So naturally, a system like this with clear high probablility entries and bankable pips appeals to me. This is kind of like scalping for 5-10-15 pips. Takes a lot of screen time.

I have been trading the trend arrows and the range arrows the same. I don't do the RADs. When an arrow (trend or range) is printed, and in agreement with 10.4 trend condition, the price will reach the next 20 line a very very high percentage of the time. I take profit at or near the next 20 line. Sometimes if price seems to be running, get a little more. Biggest trade this week about 35Pips. Smallest win probably 1 pip. I am of the "never let a winner become a loser" school. Not that I really believe this, but I have never had the nads to do it any other way.

I manually take loss when i get either an opposite signal, or perhaps a suspicious candle. Maybe just get paranoid. Biggest loss this week I would estimate around 25Pip
I don't use stoploss or tp unless i am going to be away from screen for a while.

1. Get Signal (trend or range arrow)
2 Check for 10.4 trend condition agreement (personally I just look at matrix indie for this)
3. Enter trade immediately and shoot for next 20
4. Exit and TP when happy
5. Exit and take loss when pissed and disappointed

The REAL traders would be appalled at the pips I leave on the table doing this. I plan on doing the HGI more conventionally when my other account is cleared and I would have much more margin to play with. Hope this answer not too murky.

Thanks, Shake

Shake,

appreciate the reply, many thanks

G

[Nidolap]

Hey Nidolap . . . and Grant, thank you for PM.

Basically I am afraid my explanation may be a little disappointing and unsatisfying to you guys.

I am not a very sophisticated, or technical trader. I am more the casino type. . . . high probability for trade to get into bankable pips, then take some profit (or loss). This is why over the last 8 years I have only EKED profit rather than shoveling them in. So naturally, a system like this with clear high probablility entries and bankable pips appeals to me. This is kind of like scalping for 5-10-15 pips. Takes a lot of screen time.

I have been trading the trend arrows and the range arrows the same. I don't do the RADs. When an arrow (trend or range) is printed, and in agreement with 10.4 trend condition, the price will reach the next 20 line a very very high percentage of the time. I take profit at or near the next 20 line. Sometimes if price seems to be running, get a little more. Biggest trade this week about 35Pips. Smallest win probably 1 pip. I am of the "never let a winner become a loser" school. Not that I really believe this, but I have never had the nads to do it any other way.

I manually take loss when i get either an opposite signal, or perhaps a suspicious candle. Maybe just get paranoid. Biggest loss this week I would estimate around 25Pip
I don't use stoploss or tp unless i am going to be away from screen for a while.

1. Get Signal (trend or range arrow)
2 Check for 10.4 trend condition agreement (personally I just look at matrix indie for this)
3. Enter trade immediately and shoot for next 20
4. Exit and TP when happy
5. Exit and take loss when pissed and disappointed

The REAL traders would be appalled at the pips I leave on the table doing this. I plan on doing the HGI more conventionally when my other account is cleared and I would have much more margin to play with. Hope this answer not too murky.

Thanks, Shake

Thanks for your reply, as everyone says if it's working, don't break it!

[alorente]

with GBP currency and especially (GBPNZD,GBPAUD,GBPJPY most volatil pairs) when you have a big arrow and enter trade, sometimes the price go against you before coming back and running in your direction ;and if you have a tight stoploss you are out most of the time.

Regards

You answered your own question:

"Sometimes the price go against you before coming back and running in your direction ;and if you have a tight stoploss you are out most of the time."

Why, then use a tight stop loss? In fact, why use a stop loss at all? Just exit when the arrows tell you to, whether at a loss or a profit. If the system is good, you will make a profit by following all the signals consistently. If you follow all the indications and you don´t make a consistent profit, look for another system. It´s really that simple.

[ivanlabrie]

Problem here would be how to decide on position size, since there is no hard stop...what's your maximum tolerated risk?
ATR channels? Historical volatility figures?

[alorente]

Problem here would be how to decide on position size, since there is no hard stop...what's your maximum tolerated risk?
ATR channels? Historical volatility figures?

I use 1 standard lot per $10,000 account balance. So if my account is $50,000 I place up to 5, 1 lot trades, all different pairs. If I already have 5 trades open and I get a 6th signal, I decide whether to open the new one and if I do, I close one of the other five, This setup pretty much should keeps your drawdown low.

[ivanlabrie]

Problem here would be how to decide on position size, since there is no hard stop...what's your maximum tolerated risk?
ATR channels? Historical volatility figures?

I use 1 standard lot per $10,000 account balance. So if my account is $50,000 I place up to 5, 1 lot trades, all different pairs. If I already have 5 trades open and I get a 6th signal, I decide whether to open the new one and if I do, I close one of the other five, This setup pretty much should keeps your drawdown low.

Thanks a lot, I'll experiment with that. Appreciate the quick reply.
Expect to see some trades soon (spotted 8 setups already).

[Cherry]

I use 1 standard lot per $10,000 account balance. So if my account is $50,000 I place up to 5, 1 lot trades, all different pairs. If I already have 5 trades open and I get a 6th signal, I decide whether to open the new one and if I do, I close one of the other five, This setup pretty much should keeps your drawdown low.

Hi Al, Just wondering if the timeframe should make any difference to this, ie. D1 using a smaller lot size to H1?
Thanks for your advice and posts, I really appreciate all you share.