10.6 EDSEL

[SteveHopwood]

I suggest that those of you new to all this use Harry's thread at http://www.stevehopwoodforex.com/phpBB3 ... 388#p81388 as a self-help thingy, a sort of 10.6 for Dummies thread. There you can ask the questions and discuss the basics without worrying about cluttering up this thread.

Just an idea.

[Jollyroger]

In experimenting with the Edsel system this week I have gained aprox 492 pips in my demo account.

Like Steve I have been trying for over five years to find or develop a consistently profitable system with little success and I don't have nearly Steve's talent in coding or computer skills. At first blush it appears that Bob has created and shared with us something that will consistently generate positive results.

After 50 years of investing in equities and 5 in exploring Forex I really believe that Edsel will make consistent profits without contributing nearly as much of our money to making brokers wealthy.

I have followed Bob, Steve and company for quite some time and learned a great deal but my approach has always been to try and improve the systems I was trying to learn. My focus was "If this is working well and I add that or change this it will work better." THAT HAS NOT BEEN THE CASE.

The result was often my ego not allowing me to completely accept an idea since it was not my creation turned potential into poor results.

I rarely post since I rarely have anything to contribute. Today I am briefly outlining my experience to hopefully discourage both new and old traders from "improving" a system before you learn it thoroughly and understand what the creator of the system is telling you

I truly believe that Bob has developed a complete system that properly learned and used AS IT HAS BEEN DESIGNED will with proper money management lead us on the path to consistent profits.

THANK YOU BOB FROM THE BOTTOM OF MY HEART!

Roger

[harry]

On the Edsel template if you switch to the D1 TF you will find that the CSS has been added for that pair. It does not show up in the H1 or H4.

Roger

Hi There,

how to read css? It must be mentioned somewhere but as i am not sure so if anybody can explain please...

thanks
Harry

[beleidigtebw]

On the Edsel template if you switch to the D1 TF you will find that the CSS has been added for that pair. It does not show up in the H1 or H4.

Roger

Hi There,

how to read css? It must be mentioned somewhere but as i am not sure so if anybody can explain please...

thanks
Harry

Load the 10.6 Info page template on a chart and you will see the explanation

[beleidigtebw]

Just some 10.6 info thoughts. You can see what currencies were strong and weak for the year. My favorite trading phrase of years ago was "What goes up must come down and What goes down must come up"

Jpy has spent a lot of time on the bottom and that was by government decree. However, it had its time on top also.

Eur/Chf follow each other around like Mutt and Jeff and AUD/NZD also follow each other around with the AUD taking the lead, except the last several weeks.
Cad seems to follow the dollar around also.
The GBP seems to bounce around the middle and doesnt get too strong and too weak.

SO the info page lets you know which direction a currency is going and when it is on the bottom or top it wont stay there forever and a reversal will be coming. The best pairs to trade seem to be:

1. the ones going up or down away from each other.
2. the ones just breaking into the top or bottom are trending the strongest.
3. the ones in the middle are ranging.

Now you have powerful information to know where to go look for trades.

It's post #2478 on page 5 of this thread also..

[fok]

On the Edsel template if you switch to the D1 TF you will find that the CSS has been added for that pair. It does not show up in the H1 or H4.

Roger

Hi There,

how to read css? It must be mentioned somewhere but as i am not sure so if anybody can explain please...

thanks
Harry

Study Bob's 10.4 CSS info page.pdf.

10.4 CSS info page.pdf

[nanningbob]

PDF file added today. Compilation of the info given in 10.4 about the development of 10.6. Remember the info was about the test versions but most of it is applicable to the final version. PAGE 1 POST 1

[nanningbob]

gbp,chf,and eur all have had strong moves up. I expect them to continue but probably not as strong will look for pullbacks and then re-enter the trend. aud,jpy,and nzd all have dived but this wont continue, one of them will strengthen and I believe that will be the jpy. usd and cad will settle into the middle because it is Thanksgiving week so I wouldnt expect them to do anything unexpected. So with CSS info page will look for gbp, chf, eur buys and nzd aud sells. So look for those combinations. JPY to strengthen and possible more weakness from cad and usd but holidays will make these two range. Just my opinion.

[harry]

In experimenting with the Edsel system this week I have gained aprox 492 pips in my demo account.

Like Steve I have been trying for over five years to find or develop a consistently profitable system with little success and I don't have nearly Steve's talent in coding or computer skills. At first blush it appears that Bob has created and shared with us something that will consistently generate positive results.

After 50 years of investing in equities and 5 in exploring Forex I really believe that Edsel will make consistent profits without contributing nearly as much of our money to making brokers wealthy.

I have followed Bob, Steve and company for quite some time and learned a great deal but my approach has always been to try and improve the systems I was trying to learn. My focus was "If this is working well and I add that or change this it will work better." THAT HAS NOT BEEN THE CASE.

The result was often my ego not allowing me to completely accept an idea since it was not my creation turned potential into poor results.

I rarely post since I rarely have anything to contribute. Today I am briefly outlining my experience to hopefully discourage both new and old traders from "improving" a system before you learn it thoroughly and understand what the creator of the system is telling you

I truly believe that Bob has developed a complete system that properly learned and used AS IT HAS BEEN DESIGNED will with proper money management lead us on the path to consistent profits.

THANK YOU BOB FROM THE BOTTOM OF MY HEART!

Roger

You are absolutely right but we are human and we make mistakes.....Bob pointed out many times that we must have pending trade for crossing next line and i have taken one trade just now in hurry without waiting or putting up in pending mode....That wasnt intentionally done but it was mistake. I opened up the trade and price started moving opposite and i realised my mistake...

I have taken eurgbp sell trade 0.83468 and DP located at 0.8341 so i had to put it up on pending but i made mistake and trade is currently in almost 8 pips below...lets hope so that it continue to its trend...

But system is 200% great and its going to make easy life for traders like me because i am in industry since 1 month+ and i got such a nice fellow members and such a excellent BOB and Steve....

Also when i asked questions here initially, i was expecting answers like WHY DONT YOU READ WHOLE THREAD? YOU ARE LAZY AROUND AND WANT TO MAKE MONEY? I mean some rude threatening answers but instead members around is so polite and always ready to help...

Such a nice community around....Thank you to Steve for granting me access and Thank you to Bob for sharing such a nice systems....

Great work guys.....

[Jemook]

The below is from Steve, it should be in this thread and perhaps the first post:

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.