10.3 SCALPER/RANGE TRADE SYSTEM

[FlyHighDrifter]

Seems to be a nice counter trade in progress from Eur/USD from the R2 level.... hope it makes it all the way back to DO!

Yes you are in the money on it; but you have adopted Option 3 per my post here.http://www.stevehopwoodforex.com/phpBB3 ... 636#p31636

For CT trades from deep within the SDC channel indy provided in that post, I'd recommend a DS3/DR3; though option one is the safer strategy to adopt.for a trade entry IF you must trade it.

With experience, I do think we can trade between the DS/DR levels for several CT scalps a day. Trading from outside the SDC channels should get your experience curve starting off on the right footing.

Good luck with it, and please do add a screenshot so that in 3 months from now we can still see what happened with the trade today.

Phil

Thanks for the comments Phil - I had made the trade before catching up on the last few pages of this thread (it moves on so quickly!), so I had not had the chance to read your last piece of wisdom: Excellent stuff mate - just trying to get my head around it now.

Anyway here is the screenshot to go with the trade mentioned earlier in case it helps anyone (still using MS paint! ). I'm still using an older template of yours at the moment. Pleased to say it just hit my TP in the last few minutes!

Well done mate, and congrats on a tasty trade. Thanks also for the screenshot; your trade is now immortalized for other traders in months to come to follow in your footsteps as they climb the learning curve.

Phil

Cheers! I actually prefer to use a live account to learn on, albeit with small amounts and tend to concentrate on just EURUSD with the hope of mastering the 'old gals' tendency's. Your aggressive approach to trading seems to suit me well too, this trade alone was a 25% equity boost!

A quick question Phil if I may: I have now uploaded your new rig and attached is the same trade on the new template.... the price went outside the channel so would this not make it an option two trade (channel sloping against me) rather than an option 3?? I've read your instructions several times so apologies if I'm being an onion!

[marsie]

22 trades
15 win
07 loss

293 pips
37,38%

I check the charts when New York close and set the trades in the next hours. When the price is far from pivot I wait for a come back. This show me the Korharmonic Indicator. I go to bed 1 hour before London comes. When I wake up short before New York is open I close all win trades. Because I saw often a retracement. While New York session I look for trades with Neotraders 3-slope-strategy and entry points for CT the loss trades.

[dentiok]

22 trades
15 win
07 loss

293 pips
37,38%

I check the charts when New York close and set the trades in the next hours. When the price is far from pivot I wait for a come back. This show me the Korharmonic Indicator. I go to bed 1 hour before London comes. When I wake up short before New York is open I close all win trades. Because I saw often a retracement. While New York session I look for trades with Neotraders 3-slope-strategy and entry points for CT the loss trades.

Very good marsie, but I need to ask you what variation of 10.3 are you using: bob, dancinphil, yours, other? Too many good ideas in this thread confused me

[marsie]

Very good marsie, but I need to ask you what variation of 10.3 are you using: bob, dancinphil, yours, other? Too many good ideas in this thread confused me

It is a mix off all. But the problem: My english is so poor that I don´t know how to explain. I will try. When I open the trades I use Bobs 10.3 for direction. When 10.3 is the wrong turn I use dancingphil strategy for CT. I never have posted screenshots. Now you will see why. For the most traders who love empty charts are my charts like an acid attack on the retina.

An important tool is the SDC indie. I use this since Slowkey it has recommended. You find it in the last update from Dancingphil too. http://www.stevehopwoodforex.com/phpBB3 ... f=16&t=651 When the channel shows an uptrend and the price is by the upper line I don´t trade, when 10.3 say Buy. Because mostly is not much room upwards for many pips. I wait for a retracement and trade later when the price come from the down line of the channel back into the trend. It´s the same what dancingphil said 1 page before. That´s the safest way. Sometimes I trade the retracement when I get a good feeling. But the main problem: From 22 charts nobody can check every single chart and find the optimal trade settings.

Below you see an example. 10.3 say SELL. SDC say UPTREND and price by the downline. I don´t trade. In the chart you see the lines from another usefull indicator. Named Camarilla. I love it and will set a buy limit order at the LONG line. Maybe at the WS1 when the price falls in the next 2 hours below the line.

Another usefull tool is the KorHarmonics indicator. At the picture 2 you see how exactly it has predicted the price movement with the ABCD pattern. You can read here what it means http://tradingarsenal.com/abcd-pattern/ ... fully.html And I see a good CT when the price comes back in the SDC. The same tool is sometimes usefull when the open price is far from the pivot line. I wait until it shows in 5 Min chart a retracement to the pivot and enter after the retracement. But that´s fine tuning for 20 - 25 pips more.

I don´t know how to set comments between the pictures. In this case I must post the pictures among one another. The third picture show my setting for trading with Neotraders strategy. I do this only when all my 10.3 trades are closed and I have time for "gambling". Time? It´s an addiction. Neotraders rules: Two or more MTF's above/below their MA,s for Buy or Sell. That is simple and powerfull in the right time. But mostly the right time is in the London session while I sleep.

[marsie]

Marsie, I have noticed that your win -v- loss rate is becoming very stable, and that your equity growth is consistent. Can you post some pics of your trades with notes on the chart to demonstrate what you are saying here please.

Well done.

Phil

I do the same as you. But in more charts. I have the same trading style and the same "money management". Before 10.3 came out I have this done with Camarilla and KorHarmonics with the same results. Now I have made in 7 days 205%. But the main problem is the consistency. Some day comes the point when I will be inattentive or over traded. This happens quickly with 22 charts. Or I am tired and set a trade in the wrong way and the courses rises against me while I sleep. With 1 Lot per 1000$ is not much place for wrong decisions. For this reason I choose the lots for sleeping trades smaller.

My psyche is against me. Because I cannot accept losses at the end of the day. I sit and wait and pray or gamble with hedge the hegde. In this case the half-value period, better the total-loss-value period, is mostly few weeks. In demo account I trade with much more succes as with real money because I have no fear.

The question is: Do we or I need all the charts and pairs? Until now I had luck there was no strong movements against me. But to manage 10 pairs with open trades and a hedge at the same time is in my eyes impossible.

[xrismak]

Another usefull tool is the KorHarmonics indicator. At the picture 2 you see how exactly it has predicted the price movement with the ABCD pattern. You can read here what it means http://tradingarsenal.com/abcd-pattern/ ... fully.html And I see a good CT when the price comes back in the SDC. The same tool is sometimes usefull when the open price is far from the pivot line. I wait until it shows in 5 Min chart a retracement to the pivot and enter after the retracement. But that´s fine tuning for 20 - 25 pips more.


Hello Marsie,

I never knew I would have any great use for the KorHarmonics indicator until you outlined it's use with 10.3, now I have to go thank Kor4x for sharing it free at Trading Arsenal, I liked it a bit but never really got to use it much because I always knew it had to be used in conjuction with another System to get the best out of it. Now that System is 10.3, thank you Marsie for your Input on this thread, you have just given me another great idea and from what I know about the Korharmonics Indicator I can see this Idea working really well with 10.3 .

Happy Trading Y'all,

xrismak.

[Mortiiy]

Stellar contribution from you here Phil. Thanks

Marsie, your results and comments also strike me as result orientated and focused. Any chance of allowing us a look into your methods and thought processes?

I would love to contribute but is still too busy playing catch-up and consuming all the excellent input.

EDIT**** Posted this while catching up from page 98....
Regards
Mortiiy

[xrismak]

Peeps,

Let's see what Happens with this CT on these USDJPY, EURJPY Pendings...



Happy Trading Y'all

xrismak

[FlyHighDrifter]

Many thanks Phil, great points - I owe you a beer!
Awsome thread thanks to all involved,

Fly

[pacinvest]

Phil

Thanks for responding to my questions on hedging a few pages back. Explanation on how you manage the hedge makes sense. Going to do some trading now, gotta do this stuff to learn it. Really appreciate the time you have put in on this thread Phil.