Need Help For 10.4/5/6

[harry]

Hi Steve, Bob and other fellow members,

I am around since 3 days and i have learned about NB 10.6 and i liked it. I practiced on demo account i made good pips on all trades and didnt loose even single. I have gone through whole system today since morning and i am clear with 10.6.....

Now i am curious to know about 10.4 and 10.5 that do i need to have both system or only working on 10.6 is enough and it is covering 10.4 and 10.5.

If its not covering 10.4/5 then i am having issue with the templates because then i have to have 2 charts open simultaneously. For example if i am dealing with eur/usd then i need 2 charts where one is for 10.6 and other one for 10.4/5 so can any body guide me in a right direction to follow...

Also if they both different system and i have to use both then what are the benefits of having both system. I mean it can give me clear signal or it can give me more opportunity to open trades?

Please advice...

Many thanks in advance...
Harry

[SteveHopwood]

Harry and I exchanged a couple of emails about this. Here is a copy of the quick summary I sent him.



10.6 is all about trend detection and trading into the trend after a retrace.

• There are two moving averages:
  • a 2 period lwma on the monthly chart.
  • a 2 period lwma on the weekly chart.
• The relationship of the two ma's is irrelevant.
• If the market is above these two ma's, we are in an uptrend (UT).
• if the market is below these two ma's, we are in a downtrend (DT).
• if the market is in between the two ma's, we are in a range.
• Having established UT, DT or Range, we drop down to the H4 chart.
  • the 240 period MA is a conversion of the MN1 to the H4.
  • the 60 period MA is a conversion of the W1 to the H4.

Let's leave out range trading. Having established our trend direction. We look for our trade trigger.

• The first trigger is based on the Stochastic 7,2,2 indi.
• For buying back into a UT it must flatten out at or near the bottom. i.e. zero.
• we then wait until it rises back up above 20 to indicate the trend has restarted. We have the trade setup, so we start to look for the actual trade trigger. The trigger could be:
  • a cross of the Daily Pivot.
  • the cross of some other clearly visible previous resistance.
  • the cross of the x.000.
  • a cross of the 15 LWMA.
  • maybe even the fact that Stoch has risen above 20, or 40.
• For a sell, everything in reverse with Stoch levels 80 and 60.

My 10.6 EA helpers at http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3273 are there to take over the watching and waiting once you have decided you can see a trade trigger.

The entire 10.x series has been gradually refining the trade trigger to reach the point we are at now.

Sometimes it is easier to start with a summary and work outwards from there. Hope this helps.

[garyfritz]

That is a FABULOUS summary, Steve. Clear and concise.

[padnoter]

Thanks Steve.

[nanningbob]

Harry and I exchanged a couple of emails about this. Here is a copy of the quick summary I sent him.



10.6 is all about trend detection and trading into the trend after a retrace.

• There are two moving averages:
  • a 2 period lwma on the monthly chart.
  • a 2 period lwma on the weekly chart.
• The relationship of the two ma's is irrelevant.
• If the market is above these two ma's, we are in an uptrend (UT).
• if the market is below these two ma's, we are in a downtrend (DT).
• if the market is in between the two ma's, we are in a range.
• Having established UT, DT or Range, we drop down to the H4 chart.
  • the 240 period MA is a conversion of the MN1 to the H4.
  • the 60 period MA is a conversion of the W1 to the H4.

Let's leave out range trading. Having established our trend direction. We look for our trade trigger.

• The first trigger is based on the Stochastic 7,2,2 indi.
• For buying back into a UT it must flatten out at or near the bottom. i.e. zero.
• we then wait until it rises back up above 20 to indicate the trend has restarted. We have the trade setup, so we start to look for the actual trade trigger. The trigger could be:
  • a cross of the Daily Pivot.
  • the cross of some other clearly visible previous resistance.
  • the cross of the x.000.
  • maybe even the fact that Stoch has risen above 20, or 40.
• For a sell, everything in reverse with Stoch levels 80 and 60.

My 10.6 EA helpers at http://www.stevehopwoodforex.com/phpBB3 ... =38&t=3273 are there to take over the watching and waiting once you have decided you can see a trade trigger.

The entire 10.x series has been gradually refining the trade trigger to reach the point we are at now.

Sometimes it is easier to start with a summary and work outwards from there. Hope this helps.

YUP YUP good summary

[drg]

Well, I'm confused so I have to ask a dumbass question:
If I have to use a minimum position of 0.01 lots (0,1$ per pip) on my positions (because I want Global Prime), do I need 1000$ balance or 10000$? Thanks in advance, wish you all a very nice day!

[SteveHopwood]

Well, I'm confused so I have to ask a dumbass question:
If I have to use a minimum position of 0.01 lots (0,1$ per pip) on my positions (because I want Global Prime), do I need 1000$ balance or 10000$? Thanks in advance, wish you all a very nice day!

Actually, it is not a dumbass question and a lot of noobs would not know the answer. I can answer this from experience with GP.

It is possible to trade 0.01 lots on a $500 deposit. Two or three trades are the maximum you can take at any one time before the margin level becomes uncomfortable. This is what I found after opening the account with the minimum.

0.01 lots per $1,000 is comfortable. 0.02 is possible so long as your trading system does not lead to opening a lot of trades.

Open a demo with $500 and the $1000 to see what I mean.

[kenguo2000]

Thank you Bob & Steve for all the great work!
really appreciate!

sorry I got a noob question.

I have been going through the forum and various pdf summaries but I cant seem to get the 10.6 info page to work.

I got the 10.6 edsel template to work and it has been trading profitably Thanks so much Bob!
but not the info page

i'd downloaded all the attachments on 10.6 thread page 1 but i'm not sure perhaps i'd put the info page files into the wrong subfolders in the Empty4 folder?

If anyone could advise or direct me to any thread/pdf/summary on how to get the 10.6 info page to work, I would really appreciate

Thanks much all in advance!

[Wavegarrick]

Hi Kenguo on page 1 of 10.6 Edsel is is the info page zip that you would have downloaded. The folder 10.6 info page.tpl (see attachment)

Open up your Empty4 folder. Towards the bottom you will see a folder called templates. It is the folder just above the tester folder and just below symbol sets. Open templates and paste 10.6 info page.tpl in there.

It possible that you have pasted under the template sub folder that appears when you open the experts folder. That would be incorrect.

All the other indicators that have come in the info page zip must be copied and pasted in the indicator sub folder that appears when you open up experts.

Hope it helps

[kenguo2000]

dear Wavegarrick

Yes thanks so much!!! OMG i'm so grateful, thank you so very much, this is such a wonderfully kind forum with so many kind souls, thanks so much!

i pasted the indicators in the wrong sub folder so that's why it didn't work.

thanks so much Wavegarrick!!! Happy & Very Profitable New Year!!