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How to Trade 10.x Like a Boss
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=2505		 Page 11 of 39
Author:  Jemook [ Fri Jun 14, 2013 1:13 am ]
Post subject:  Re: How to Trade 10.x Like a Boss
Ok those are pretty good excuses then, I'll take 'em. GBPAUD does look like a nice setup
Author:  cmeade2 [ Fri Jun 14, 2013 1:20 am ]
Post subject:  Re: How to Trade 10.x Like a Boss
Glad I passed the test!

Jemook wrote:Ok those are pretty good excuses then, I'll take 'em. GBPAUD does look like a nice setup
Author:  bluedog23 [ Fri Jun 14, 2013 1:24 am ]
Post subject:  Re: How to Trade 10.x Like a Boss
Jemook wrote:I see quite a few setups this morning. Lots of pinned RSI2xTMA's. I opened a few trades this morning:
opentrades.png
As others are saying it looks like pairs are in a reversal at the moment so I'm trying not to look at higher TF and 'have an opinion'. If I'm wrong about these I'll shut them for a small loss.

J
Jem,

Quick question, is the H1 CSS color change a requirement for your trades. In the NZD/CHF trade my H1 CSS is still green although the H1 RSI has fallen.

Thanks,

Ray
Author:  Jemook [ Fri Jun 14, 2013 1:42 am ]
Post subject:  Re: How to Trade 10.x Like a Boss
bluedog23 wrote:
Jemook wrote:I see quite a few setups this morning. Lots of pinned RSI2xTMA's. I opened a few trades this morning:
opentrades.png
As others are saying it looks like pairs are in a reversal at the moment so I'm trying not to look at higher TF and 'have an opinion'. If I'm wrong about these I'll shut them for a small loss.

J
Jem,

Quick question, is the H1 CSS color change a requirement for your trades. In the NZD/CHF trade my H1 CSS is still green although the H1 RSI has fallen.

Thanks,

Ray
Ba-bow. Read the first post your answer is in there :)

Cheers,
Jeremy
Author:  bluedog23 [ Fri Jun 14, 2013 1:49 am ]
Post subject:  Re: How to Trade 10.x Like a Boss
Jemook wrote:
bluedog23 wrote:
Jemook wrote:I see quite a few setups this morning. Lots of pinned RSI2xTMA's. I opened a few trades this morning:
opentrades.png
As others are saying it looks like pairs are in a reversal at the moment so I'm trying not to look at higher TF and 'have an opinion'. If I'm wrong about these I'll shut them for a small loss.

J
Jem,

Quick question, is the H1 CSS color change a requirement for your trades. In the NZD/CHF trade my H1 CSS is still green although the H1 RSI has fallen.

Thanks,

Ray
Ba-bow. Read the first post your answer is in there :)

Cheers,
Jeremy
Thanks, I read the thread last night (but it was late) but missed this point. Thanks and the thread is great, really informative.

Have a great day!!
Author:  Jemook [ Fri Jun 14, 2013 1:53 am ]
Post subject:  Re: How to Trade 10.x Like a Boss
No worries :)

Cheers,
J
Author:  bluedog23 [ Fri Jun 14, 2013 3:31 am ]
Post subject:  Re: How to Trade 10.x Like a Boss
cmeade2 wrote:I think we are all in agreement that Jem has outlined a great strategy to use the H1 CSS to trade 10.4.

I'm not sure if this is the right forum, but I wanted to point out that you can use the same charts to identify 10.4 CT trades where the pair retraces from the trend.

I have attached an example for the EurNzd showing an H1 chart.

Last night the CSS bar flipped green consistent with the 10.4 direction, and this would have triggered a long trade according to Jem's guidelines.

This morning, however, the CSS bar flipped red. At the same time, the RSI(2) for the H4 and H1 were both pinned low.

I have found that this is a great set up for a CT short. The key element is that both of the RSI2's have to be pinned. Obviously, the opposite for a long trade.

Very interesting, having a look at it tonight. It looks like there are some great possibilities here.

Any comments?

cmeade2

whoops! The H1 and H4 labels for the RSI2 are reversed in the figure below!
Very interesting, having a look at it tonight. It seems like there are some great possibilities with this.
Author:  Jemook [ Fri Jun 14, 2013 4:14 am ]
Post subject:  Re: How to Trade 10.x Like a Boss
Closed some profits, opened some new positions:
floating.png
Author:  batemap [ Fri Jun 14, 2013 4:23 am ]
Post subject:  Re: How to Trade 10.x Like a Boss
Jemook wrote:There's scripts now which will auto close if CSS H1 colour changes so no excuses!! :D

J
Hi Jem

Where's this script? I've seen the scripts Lifesys posted, but these don't seem to fit the bill for closing at CSS colour change.

Cheers

Paul
Author:  kwanann [ Fri Jun 14, 2013 4:27 am ]
Post subject:  Re: How to Trade 10.x Like a Boss
jem,

Like to try to incorporate this into the EA that i wrote to see what the results might be

Can i check with you a few things

1. Wait for a decent retracement. Better if price is at a pivot or support (WP, WS1, WS2, MS1, MS2)
-> so even if it retrace to MS2 you will enter a position too?

4. Risk 1% per trade and place stop "out of reach*" using Easy Order to calculate the position size.
-> i assume this stop is purely for times when price spikes away from you?

5. Aim for TP of WR1 OR close any trade early if the H1 CSS colour changes back to red (or grey if extra cautious).
-> even if i enter at MS2 i aim for WR1? or do you go level by level?

6. i assume you are trading the weekly pivots, and you ignore the daily pivots?
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