stevehopwoodforex.com • Ducks In A Row

Author:

Aussiedoc [ Sat Dec 24, 2011 3:45 am ]

Post subject:

Re: Ducks In A Row

Gary, George , hi!
I have been thinking a lot about how I trade since you asked me to define exactly how I trade. Wendy laughed like mad, jabbed me in the ribs, and said "I'm glad someone is giving you a taste of your own medicine."

The Empty4 platform isn't as versatile as the platform we were using (only open 1 trade at a time) so what I have set out is an adaptation of David's/my Eminis trading style. I am mentioning it because, having had the opportunity to look at other trading methods here on Steve's Forum, I wonder if, in some way, a compromise may be reached.

That said:-
David is very big on pivots and retracements. He reckons that the speed of a 3/8 EMA combination is such that a change in Trend direction should be confirmed within 3-5 candles of the pivot/retracement. (EUpivot.gif)

We used to open 2 simultaneous trades with 2 separate TPs (M5 - 25/50pips; H1 - 100 & 200; D1 - 500 & 1000). I don't know how to do this on an Empty4 platform so I purchased a programme called MYFX that enables me to set BEs, TSs and take x% out at a given level(s)

The trade is opened on the first candle to open below/above the MAs (U - 5>8>50. D - 50>8>5) - supported by the RSI climbing above the 20 up through the 55; dropping from the 80 down through the 45. (EUentry.gif).

Taking the current candle as Candle 1; go back another 3 candles; the SL is at the open of the 4th candle back, or the pivot, plus spread (EUstoploss.gif) David calls this "The Gap" (TG) and it is used as the TS (Trailing Stop). TSs are set at TG multiples. When the PA gets to 2x TG the SL is moved to BE (EU_TS.gif), 3xTG to SL1, etc until it reaches a TP (EU_TP.gif); is stopped out or the trade is closed when either the 3/8MA cross in the opposite direction or the RSI breaks back up/down through the 55/45 RSI.

Retracements - David taught (drummed into)

me that, barring external 'alien' intervention, a trend is good for 2 major retracements before it positively changes direction… so I always have this in the back of my mind as I watch my M5 & D1 charts.

Quite often a counter-trade pops up using the same criteria. "Sometimes you'll win - sometimes you'll lose. Better to have a shot. The worst is you'll lose a bit.. The best is you'll make some more. Your choice! I know what I prefer.."

Having lost most everything a while back through naivety/inexperience/greed (very steep learning curve) I'm content to build my account(s) slowly, surely and safely. 0.01 lots per $200 of a/c size works well for me. The Eminis platform had MM settings for that. Sad that the Empty4 doesn't!

Watching the charts I have noticed that there are a lot of good trades (AUD, NZD, JPY) between 1000 -1400 local time when Sydney & Tokyo are trading ; EUR,GBP, CHF between 2000 - 2400 London opens and the USD when NY opens 0100 -0400 local (AUS is GMT+11 -Daylight savings)

Because my work covers such a large scope and area and, despite all comments or expectations to the contrary, I do need sleep & family time.

Therefore; much and all as I would love to trade more often and regularly on the H1 and NY - I'm petty much limited to trading the D1 & London on the M5.

Gary/George/et al, all you blokes have done phenomenal things with a lot of the programmes I have looked here in Steve's forum. My problem is that, even though I have a basic understanding of what everything is and does, because I am a newbie to this 'inside' world of programming - I struggle with a lot of the abbreviations, notes and comments.

Can I ask a favour please??

The next time you see Santa, or the head of his coding/programming department, would you ask him if he could make a bit of an exception and, run up an 'Old Person's" version for me???

Thanks for everything you all are doing. You have no idea how much I appreciate it!!

Have a great Christmas & New Year.

Cheers.
Mark (aka Doc)

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Ducks In A Row https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=157	Page 2 of 11

Author:	Aussiedoc [ Wed Dec 21, 2011 11:20 pm ]
Post subject:	Re: Ducks In A Row
Gary, you will probably throw your hands up in the air and scream at my reply. I look at the line and can pretty well tell what 'o'clock' the angle is. Sorry I can't be more scientific than that! My grand-kids often ask, 'Will I be able to do that when I am really* old like you?'* What I am looking for is a steep angle. The bloke who taught me how to trade Eminis was a demon on making sure there was strength behind a move. He traded multiple lots full-time the M1 where there is virtually NO think time - so that is my BSR (Base Reference Standard) against which I measure everything. He taught me that the angle of the PA is representative of the market strength behind the trend. Large vertical candles & angles between 8 & 10/2 & 3 0'clock...he'd say, "Pretty much doin' nothin' - goin' nowhere! Have a cuppa...See you back here in 10!!" Trust this answer makes sense. Cheers

Author:	gaheitman [ Thu Dec 22, 2011 1:51 am ]
Post subject:	Re: Ducks In A Row
Aussiedoc wrote:Gary, you will probably throw your hands up in the air and scream at my reply. I look at the line and can pretty well tell what 'o'clock' the angle is. Sorry I can't be more scientific than that! My grand-kids often ask, 'Will I be able to do that when I am really* old like you?'* What I am looking for is a steep angle. The bloke who taught me how to trade Eminis was a demon on making sure there was strength behind a move. He traded multiple lots full-time the M1 where there is virtually NO think time - so that is my BSR (Base Reference Standard) against which I measure everything. He taught me that the angle of the PA is representative of the market strength behind the trend. Large vertical candles & angles between 8 & 10/2 & 3 0'clock...he'd say, "Pretty much doin' nothin' - goin' nowhere! Have a cuppa...See you back here in 10!!" Trust this answer makes sense. Cheers Unfortunately, we need a more mathematical description of what is so intuitive to you in order to automate the strategy. We need to know how many bars back to look and what the rate of change is over that time period for each range of the various clock angles. We can start with guesses, of course and refine as we go, but we were hoping for educated guesses! George

Author:	Aussiedoc [ Thu Dec 22, 2011 7:33 am ]
Post subject:	Re: Ducks In A Row
George, thanks for the 'rap-across-the-knuckles!' I had completely forgotten that I am talking to programmers. Please, everyone, accept my humble apologies! Not sure about your part(s) of the world! Here; most everyone leaves things until the last minute and then get 'very upset' if they don't get priority treatment - IMMEDIATELY!. I plan to shut the doors for Christmas - barring emergency procedures - at 1800 Friday night. It'll be a bit hectic between now and then! I won't get much time to myself! Will it be OK if I post as much statistical information as possible about my trading style as soon as I am able?? Thanks. Take care now.

Author:	Aussiedoc [ Fri Dec 23, 2011 1:56 am ]
Post subject:	Re: Ducks In A Row
That's perfectly fine, of course! I hope you have a quiet run up to Christmas. George George, thanks! Me too! To answer your question... Pivot points are the key I look for. My mentor in Eminis was a very cluey, very wealthy bloke...whose wife had had some ever-increasing health challenges since her teens. My logo is 'Answers that make sense...Solutions that work'. He challenged me. My advice was 'Just do what I tell you until I tell you something different! You argue - I quit!' Dramatic on-going reversal of condition began within first few months. He returned the favour - Same advice! He was/is a full-time trader - worth millions. I wasn't going to argue with him...he knew more than me! He hammered into me "the MA indicates, the RSI confirms". Most every night he traded he made NICE money. I just did what he did, as often as I could...started making some money too - and began to understand the how, when, where, why & what. Just that the hours 'literally' killed me! Everyone has their favourite combinations of indicators. Mine are Candles, MAs, RSI, confirmation alerts. (See below) I have come to learn that a 3/8EMA cross within 3 candles of the pivot is a very good indicator of market potential...when confirmed by an RSI break above/below the 45/55. George, although I didn't put it in my original post (apologies for that ); what I am looking for with the RSI is a consistent indicator movement from above the 20 up through the 55/below the 80 down through the 45, in support of the 3/8 EMA cross...all within 3-5 candles from the pivot. When I (1) hear the modified alert I use with the EMA Crossover signal (set to 3/8 smma values)...I (2) check the indicated cross on the chart. (3) Look for the preceding pivot. (4) Check the number of candles (usually between 3 & 5) (5) Wait for a candle to open below/above the 3MA. (6) Look for confirmation of the RSI breaking above/below the 45/55 RSI channel. (7) Look at Lawgirl for trend confirmation. (8) Do the same with Signals. If all the Ducks are lined up - BANG! I go! If there are more than 5 candles since the pivot... I check to see the relationship of the MAs to each other (Long - 3 above the 8. Short - reverse). If they are consistent with the trend I either wait for the next pivot and repeat the steps all over again or look for (5) a candle to open above/below the MAs. Phew!! I hope this gives you enough to go on! I really appreciate all that you, and everyone else, are doing on my behalf. 'Diolch yn fawr' (Thanks very much.) Wishing you and yours a very safe and Happy Christmas/New Year Cheers, Mark (aka Doc).

Author:	garyfritz [ Fri Dec 23, 2011 3:31 am ]
Post subject:	Re: Ducks In A Row
Aussiedoc wrote:Will it be OK if I post as much statistical information as possible about my trading style as soon as I am able?? Doc, if you can manage to mark up charts like I did, it might be very helpful to draw us some pictures. Show what you're looking at and why it's important to you, which crossing you like and how you determine it, etc. Give us enough info like that and we can turn it into numbers. (And by "we" I mean George. ) Gary

Author:	Aussiedoc [ Fri Dec 23, 2011 11:50 am ]
Post subject:	Re: Ducks In A Row
Roger that! Will do my best to have it for you a.s.a.p. Cheers

Author:	bobasker [ Sat Dec 31, 2011 6:18 am ]
Post subject:	Re: Ducks In A Row
Hi Doc, nice to see another Aussie on here.....nice system you have here, when i first read the subject i thought it may have been the 3 duck system by Andy Perry which is a nice easy system that i have traded before, anyway i shall be following with keen interest.

Author:	Aussiedoc [ Sun Jan 01, 2012 4:57 am ]
Post subject:	Re: Ducks In A Row
bobasker wrote:Hi Doc, nice to see another Aussie on here.....nice system you have here, when i first read the subject i thought it may have been the 3 duck system by Andy Perry which is a nice easy system that i have traded before, anyway i shall be following with keen interest. Thanks! Great to hear from you. Cheers.

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