10.2 forum

[fxozgirl]

Shelley, I don't know if this helps, but I found this in one of Bob's posts and copied it to the end of the auto-trader as a comment so I would not lose it - in case I decide to use it further down the line.

"This little gem saved from http://www.forexfactory.com/showthread. ... ost5661628

I found this out. The best time to TP was 2-3 hours into the jpy session. 1-2 hours before the usd session,
3-4 hours into the usd session and then if there is anything left a couple of hours before the jpy session.
These seem to be the peak times for price movement and then afterwards a holding pattern or retracement."


I mention it in case it helps with your timing thingy.

Great, thanks Steve...now you've posted it I do remember reading it previously but had forgotten.

As it turns out, my trades last night didn't hit the 400 pip global closure (mainly due to a few trades retracing & closing at BE), so referring to your quote above, I have closed them all manually myself this morning (which is approx 3 hrs before jpy session) for +278 pips.

Looking at the charts, it's tempting to leave the trades running, but happy to pocket 278 pips and wait again for tonight.

So far in 1 weeks trading I have made 1657 pips profit with negligible drawdown.

[SteveHopwood]

Shelley, I don't know if this helps, but I found this in one of Bob's posts and copied it to the end of the auto-trader as a comment so I would not lose it - in case I decide to use it further down the line.

"This little gem saved from http://www.forexfactory.com/showthread. ... ost5661628

I found this out. The best time to TP was 2-3 hours into the jpy session. 1-2 hours before the usd session,
3-4 hours into the usd session and then if there is anything left a couple of hours before the jpy session.
These seem to be the peak times for price movement and then afterwards a holding pattern or retracement."


I mention it in case it helps with your timing thingy.

Great, thanks Steve...now you've posted it I do remember reading it previously but had forgotten.

As it turns out, my trades last night didn't hit the 400 pip global closure (mainly due to a few trades retracing & closing at BE), so referring to your quote above, I have closed them all manually myself this morning (which is approx 3 hrs before jpy session) for +278 pips.

Looking at the charts, it's tempting to leave the trades running, but happy to pocket 278 pips and wait again for tonight.

So far in 1 weeks trading I have made 1657 pips profit with negligible drawdown.

Oh dear. A mere 278 pips instead of the usual 400+. First sign of weakness in the system.

Boy oh boy but this is a blast. Or, as Bob would say, dang this is a blast.

[fxozgirl]

Shelley, I don't know if this helps, but I found this in one of Bob's posts and copied it to the end of the auto-trader as a comment so I would not lose it - in case I decide to use it further down the line.

"This little gem saved from http://www.forexfactory.com/showthread. ... ost5661628

I found this out. The best time to TP was 2-3 hours into the jpy session. 1-2 hours before the usd session,
3-4 hours into the usd session and then if there is anything left a couple of hours before the jpy session.
These seem to be the peak times for price movement and then afterwards a holding pattern or retracement."


I mention it in case it helps with your timing thingy.

Great, thanks Steve...now you've posted it I do remember reading it previously but had forgotten.

As it turns out, my trades last night didn't hit the 400 pip global closure (mainly due to a few trades retracing & closing at BE), so referring to your quote above, I have closed them all manually myself this morning (which is approx 3 hrs before jpy session) for +278 pips.

Looking at the charts, it's tempting to leave the trades running, but happy to pocket 278 pips and wait again for tonight.

So far in 1 weeks trading I have made 1657 pips profit with negligible drawdown.

Oh dear. A mere 278 pips instead of the usual 400+. First sign of weakness in the system.

Boy oh boy but this is a blast. Or, as Bob would say, dang this is a blast.

Haha I know it's only 278 pips...but I'll manage to carry on

and yes this is definitely dang it a blast
Bob has certainly evolved his trading strategies into one awesome piece of work...Thanks Bob

[astral77]

HI BOB,

I was wondering if you are going to use recovery for the counter trend and range trending aspect of the system. It takes plenty of practice to master recovery but for people like me who hate setting and hitting SL it is a life saver. I know this is very controversial subject and there are plenty of traders who passionately regard recovery as a form of suicidal martingale. The only thing I can say to those traders is to open a penny account and seriously trade recovery for six months and then make a judgement.

I do not want to start a debate regarding this since there has been plenty of time devoted to it already.

Kind regards

[nanningbob]

HI BOB,

I was wondering if you are going to use recovery for the counter trend and range trending aspect of the system. It takes plenty of practice to master recovery but for people like me who hate setting and hitting SL it is a life saver. I know this is very controversial subject and there are plenty of traders who passionately regard recovery as a form of suicidal martingale. The only thing I can say to those traders is to open a penny account and seriously trade recovery for six months and then make a judgement.

I do not want to start a debate regarding this since there has been plenty of time devoted to it already.

Kind regards

Dont worry about a debate here Steve will take care of that plus with in the threads I have control. Recovery I hope will be used very limited. The question I have not answered yet is exactly where do I start CT trading. Because the weekly pivot resets itself every week. Price breaking above or below it happens early and sets you in the new direction quickly. So that leaves me with when to CT trade. The closest thing to CT trade is the SRF. The range trade when the numbers are show range between 4 and -4 will also show bias on the slope indicator, I am hoping that keeps us out of serious DD. So .............. we will see. I tried to recovery some trend trades this spring. Yuck that was a nightmare. I was stuck on some trades for months and that is not what recovery is about. Recovery should happen within a couple of weeks or you are just on the wrong side of a trade very badly. My win ratio with 10.2 is 88.9% I really dont need recovery winning that many trades.

[Jemook]

My win ratio with 10.2 is 88.9% I really dont need recovery winning that many trades.

In saying this are you using stops with all your trades? Would love to know what kind of MM you are using with 10.2. Stops above swing high/low OR previous pivot have been working well for me.

[astral77]

Dont worry about a debate here Steve will take care of that plus with in the threads I have control...

That is why I deleted this post in ff and reposted it here. As you are aware STEVE has given us some GOD like powers and we can deal with trouble makers accordingly. I thought Brijon was paraniod at times but I am sure people like bluesteel are agents of the criminals with the sole intention of destroying promising threads and systems. People like usualy alst less than 12 hours here .

I know what you mean when you say one should not be long time in recovery. I was stupid enough to get myself deep into trouble with some short trades in EUR pairs in January (over 3000 pips DD in one of my live a/cs). It is only during that last few days that my DD has been reduced to a more reasonable 400 pip DD and now I have SLs in place in case they go the other way again. Mind you trading 10 cent a pip with a $5K account meant that at no time my DD was more than 10% of my a/c balance. If any newbies want to be profitable they should only listen to NB .

I am going to clear my accounts of all other indicators and EAs and stick with 10.2 and Scoobs Forex Robot ONLY.

Kind Regards

[cuzgeorge]

Astral,
nice post, and yes, TIB, we're here with you and some not-so-smart-guys like me, also. hehehe. Thank you for all the posts and very happy to have a system like yours to follow and learn from. I still have to catch up on the booklets and reading them again and again, and when i think i'm done, i read again and realise i'm not ready. hehe, anyways, i'm a huge fan of MPTM and Steve, so i noticed this post from Kelisa on -the-other-side, and had to drop it here;

Posted by Kelisa

........ 10 at 25
Lock 25 at 35
TP at 40
Set visible TP with broker at 50
---End Quote---
Try MPTM from Steve. Its has features that can operate Star trek's spaceship.

U can set BE+10 when price hit 25pip, ie, the one provided by bob here. then add jumping stop 10. No point add TP when u can let your profit run..

nice one Kelisa,
I'm no pilot and trying to take on a lot more than i can chew right now, but will get there and join you all.
I've read many times that once you 'get it' you really get-it and trading becomes easy using your system.
Like i said, i'm not there yet, but can't wait to join the trading on 10.2.

kind regards, welcome, and hope you enjoy Steve's corner as much as we all do.
regards
cuz

[cuzgeorge]

I know what you mean when you say one should not be long time in recovery. I was stupid enough to get myself deep into trouble with some short trades in EUR pairs in January (over 3000 pips DD in one of my live a/cs). It is only during that last few days that my DD has been reduced to a more reasonable 400 pip DD and now I have SLs in place in case they go the other way again.

Mind you trading 10 cent a pip with a $5K account meant that at no time my DD was more than 10% of my a/c balance. If any newbies want to be profitable they should only listen to NB .

Astral,
You sound like you're in exactly the same position as me, trying to find a 'style' with which you trade. If you followed 10.2 to the letter and i did the same, i can guarantee that we would almost never have identical positions all the time. This is where your own 'style' comes to play. I also just blew the ......smithereens out of my live accounts, but thats just the 'style' i choose to trade. There is definately a way to recover or hedge, anyway you like to look at it, but it's in learning NOT to do the practising on live accounts that helps. hahahaha.

I cannot change the way i trade and will continue to look for a way out of a losing position. I HATE, HATE and hate closing losing positions, but i've had to learn the hard way that counter-trading must be done correctly. i promise you ive paid the price for my stupidity but Steve's forum has taught me a lot and learning every day that i'm not the only one.
anways,
Does'nt matter what method you use, and i think if we follow 10.2 by the book, we should get there, maybe not at 88%, but anywhere close would be good enough.

Martingale style seems to be a good way, but please read GaryFritz's comments on it if you have'nt already,http://www.stevehopwoodforex.com/phpBB3 ... ?f=5&t=547 , Forex Robot trades similarly and i've been following FR for some time now and have some very big negative positions in huge DD on demo. All or most positions close positive, but losers are left open until they can be 'written-off' against a similar winner. I am reporting back on the threads from time to time. What i'm trying to say is i agree with your comment on keeping the DD down, so we got something left to use 10.2 to 'win' back the loss from the first position. hope i make sense. I do trade it live with small positions, but there's nothing that can compare to mastering a system like 10.2 and understanding all that can happen.

my 2c, or$1 ,
regards
cuz

[nanningbob]

My win ratio with 10.2 is 88.9% I really dont need recovery winning that many trades.

In saying this are you using stops with all your trades? Would love to know what kind of MM you are using with 10.2. Stops above swing high/low OR previous pivot have been working well for me.

Well, so far I have not done any recovery trades except the aud/nzd which isnt going anywhere. My losses have been trades where I came back to near 0 and it didnt look like it was going to go anywhere. The bottom line is I am winning at such a high rate that the ones that are losers are not that deep in the hole so it is easy to clean them out if I want. Right now my philosophy is as long as they are both on the same side of the pivots. I let them run and go into profit. If I get outside S1/R1 territory I am much more careful of what trades I enter on. I feel good around pivot lines, get nervous out side S1/R1 and downright paranoid outside S2/R2. Strong trends are making the system look good right now. See what happens when we get into a long term range. If the system can handle both kinds we have a real winner.