10.4 A Complete System

[grimweasel]

Heads-up for EurUsd possible monthly direction. Feb has posted a Bearish Engulfing Bar at Resistance with a close below the Monthly 9, 20 and 63 emas. A break of of the bar low usually indicates further price falls. Next targets are support at 1.2640 and Trendline Support at 1.22-1.23. I will only be selling EurUsd rallies throughout March.

[Anonymous]

Hi Allison.

I noticed that you are using something called trade sim v 2.0. Could you please explain what this is and where I can get this? The website listed next to it does not work. I'm interested in a good testing / simulator software to practice 10.4 trades (in addition to forward tests). Any advice on this?

Thanks,
SK

I want to also show what i am starting to call my Friday trade runs. Area 6 is showing a double top and Friday rolls in. I also had a winning trade there when it was at area 2. I have been placing a trade Sell limit at that double top and setting up pendings on the next two lines below creating a 3 level trade. Price drops like a rock for those last 12 hours and I get a 3 level trade. By playing those highs and previous R levels I have a very low risk high reward trade. It doesnt go south I have a small SL, if it does I reenter 1 to 2 more times and close out the trade at the end of the Euro session. USD/JPY is not moving much so I probably am ignoring this pair at that time but that is how 10.4 is designed to work.

The trade setup you are showing is on a Monday, area 7, I wouldnt be expecting much of a move on that trade anyway.

yes very informative thank you !

the lot sizes are based on my simulator backtest with 10k in the account.. it sets it automatically..

can you explain SL's .. i don't seem to have a very good grasp on it

Try this trade simulator. Quite easy to use. Just follow the setup instructions in the PDF. You can practice trading when the market is closed.

The download of the LFH zip file has been moved to the "UTILITIES" location

http://www.stevehopwoodforex.com/phpBB3 ... =47&t=1564

[xrismak]

The SNOWMAN, thank you very very much for that Goodie, mehn my eyes are Opening wide open with it and I love it to Bits, it's been making me some coins.

Hi xrismak - could you elaborate? I had a look back but couldn't see what you were referring to.

Thanks,
Dave.

Spotdespot,

No Matter how hard you look, You won't see what I am talking About, Only the SNOWMAN can see it He gave me the .............. Gizmo for Sight on the Bigger Picture Level....

Happy Trading ....

xrismak

[padnoter]

Hi All,
Wondering who sets orders up now (spreadbetters are open) based on emerging pivots? or do most wait until midnight for fixed weekly pivots (i know it might diff depending on platform & brokers time etc)..?

[padnoter]

thanks allison... tho' i don't have a signal for usdcad on from the rsi2 (guess you are using stoch).

i took bob to mean you could lock in profit by only waiting for 1 or 2 pivot lines to cross.. incl. mid pivots.. so where you would normally have a 2nd order - instead of that, close the trade & bag the pips..
(but i stand to be corrected by Bob !)

[padnoter]

i have rsi2 signals on most xxxJPY pairs - for shorts, but think i'll wait and see what happens @ midnight'ish before setting orders..

[cmeade2]

Allison

On the one hand, looks it could be a great trade. In situations like this, I also look at the H1 and see where the RSI(2) is. In this case, if it's going up, get in. But it's not now, so best to wait.

That's my 2 cents

cmeade2

Hi All,
Wondering who sets orders up now (spreadbetters are open) based on emerging pivots? or do most wait until midnight for fixed weekly pivots (i know it might diff depending on platform & brokers time etc)..?

i setup a pending buy stop on the usdcad.. waiting to see if i get any more signals..

[cmeade2]

AudJpy looks like an incredible short under 10.4......but indications are that the Jpy is going to strengthen.

[cmeade2]

Whoops!

Maybe that's a good thing!

AudJpy looks like an incredible short under 10.4......but indications are that the Jpy is going to strengthen.

[nanningbob]

hey nanningbob when you say to take profit from line to line, you mean we can try to take profits from pivot to pivot or resistance to pivot or resistance to resistance 2 .. things like this ?

How do you go from pivot to pivot? There is only 1 pivot line. I dont understand your question. Taking profit from one line to another is the only way I can explain it. If I enter at one line and price moves to the next line I take the profit or maybe two lines. Price moves slower at the beginning of the week and faster and more volatile later in the week, so then maybe 3 lines. Big news story hits maybe 4 or more lines. If you are looking at hard fast rules this business is very fluid so hard fast rules dont apply. My biggest profit on a single trade was just over 100 pips (3 plus lines) my smallest was 2 pips last week, my average was 38 pips. That is a lot of discretion between trades.

If you are new to trading and you trade from one line to the next and pocket small profits until you learn the business then that is where you can start. You have to get a feel for the markets, I know many of you like dashboards but you dont learn the markets watching a dashboard. You learn the markets by watching price action and studying charts, over and over and over again. I dont condemn dashboards but you wont learn the nuances of trading from them. They dont tell you trendlines, previous R/S positions, news, time of day, time of week, difference between jpy, eur, usa, aud/nzd sessions, candle patterns, chart patterns, etc. That only comes from watching charts, year after year after year. I trade differently on Monday and Tuesday than I do on Thursday and Friday. The answer I give today I wont do on Thursday. That is Forex. Keep asking questions and keep studying charts and price movement. Go read news stories and learn what really moves markets and what is just fluff and BS. I am going into my 7th year in trading and I finally have begun to truly learn what a real trend is in trading, a dip/rally even though I heard those terms from day one.