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HGI
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=3964		 Page 102 of 295
Author:  pakeha [ Tue Jan 06, 2015 5:54 pm ]
Post subject:  HGI
SteveHopwood » Tue Jan 06, 2015 9:31 am wrote:
Maximilian » Tue Jan 06, 2015 5:19 pm wrote: So just sit and wait for TP or for an exit alert, right?
Yep. Or I do what I did with HGB this morning and closed the entire position to lock in a further 300 pips then stopped for the day - can't grumble at 1612 pips in just over 24 hours. :!!:

I am going to write a multi-purpse/multi-pair trade manager for all this but not just yet. I want to get a proper feel for trading it first, so I know what I want from the manager.

:xm:
Steve

For the 1612 pips I am assuming most of your trades are RAD trades (versus Trend or Range Trades). Is this correct?

Yes, a trade manager would be a great addition.

thks
Author:  Adam63 [ Wed Jan 07, 2015 12:28 am ]
Post subject:  HGI
Just to provide some balance to all the rampant pipmaking going on around here ;) , here are my first 2 HGI trades.

UDS/CAD buy, got far enough into profit to move stop to b/e, which was then hit before powering up. It's uncanny how often my stop losses and b/e stops are hit almost to the exact pip. Not sure if it's a special talent of mine or if I should check a few other brokers charts to see if they match....yeah, I know that's probably a noob complaint.
USDCADH4.png
Then NZD/JPY sell, entered with RAD arrow and big red arrow, price then reversed taking out SL before, of course, falling back. I hate using SLs but lack the confidence not to have one for the US session when I'm sleeping. Looks like the other JPY pairs behaved in a more cooperative manner.
NZDJPYH4.png
Anyway, not an auspicious start...hopefully I can soon get in the groove that others seem to have achieved.
Author:  firesword [ Wed Jan 07, 2015 4:55 am ]
Post subject:  HGI
xrismak » Wed Jan 07, 2015 4:33 am wrote:
Firesword,
hehehehehehehe,

Made More than Half my Losses Today Back Already :clap: , Now let's Take it Easy and Trade like a Level Headed Geek... No More Kamikaze Like Trades for the Time Being,Closed all but Left Only One trade Open Though.

Happy Trading Folks,
xrismak ;)
Nice one mate. :good:
Author:  Jonathan2FI [ Wed Jan 07, 2015 5:53 am ]
Post subject:  HGI
Steve, Bob,
apologies for 6 months absence ! Apart from some other pressing matters I continued my trading journey.
I recently have studied HG / 10.7 / Gann Ribbons and was here with the early 10 system 2 years or more ago so understand TMA. I have incorporated my own trading knowledge into this system and have been impressed by the recent success: 50 trades at 0.3% risk 35% losers 65% winners with NP of 4.2% all on 4h in 2 days.

I consider this over trading so need to build a more disciplined approach and will build and share experience of this.
I like the system & indicator because of the emphasis on S&R in fact if I count what I am looking at for SR there are 9 S&R references I take from a chart - I don't feel overwhelmed with this either and simply look for confluence:
HGI - wavy lines HGI - Rad breakout arrows
HGI Trend large arrow HGI - small range arrow
LWMA 60 / 240 Round numbers
Gann Ribbons mtf Major Swing H's, Swing L's
Fibo Pivots

Clearly confluence of 3 or more of these have been the basis of high probability trading Entry , SL and TP -for example an HGI signal plus off or between a Ribbon & round number.

One thing I have noticed is my tendency when I do go back to the screen for 10 minutes to take profit as P approaches one of the above SR levels e.g. round number and looks as if it is stalling. I then would add further trades say beyond this point if overall trade still valid and momentum still there.

I take your comment on multi purpose multi trade manager as I am not a full time trader and have seen a basket of 5-10 trades at 2% NP move backwards would appreciate such an EA/tool and would support development.
Again thank you
Jonathan2fi


ps I strongly recommend to all as per Steve & Bobs comments trade with low risk percentages so that you can trade another day and keep a trade journal so that you get value form the trades that go against you.
Author:  firesword [ Wed Jan 07, 2015 6:56 am ]
Post subject:  HGI
Update on my NZDUSD long. The second of 3 parts of that position was closed this morning (Aussie time)at 124 pips profit. The third is left running till it touches daily 200EMA or BE. Doesn't look too healthy now but no loss, so who cares. :smile:
Author:  josch [ Wed Jan 07, 2015 9:02 am ]
Post subject:  HGI
Adam63 » Tue Jan 06, 2015 7:28 pm wrote:Just to provide some balance to all the rampant pipmaking going on around here ;) , here are my first 2 HGI trades. .....
Anyway, not an auspicious start...hopefully I can soon get in the groove that others seem to have achieved.
Adam,

not knowing, how your trading-experience is, my 2 ct:

On your first trade you better set your stop below the last swing. If you trust your trade, qualifying as a 'good' one, let him breathe a bit, means, don't be too fast to move up your Stop to BE.

On your second trade there's no swing high to set a SL as in first trade. I don't know, how much pips you risked, but same as above - you evaluated it as a 'good' trade or not? - If yes, possibly SL too small?

And neither HGI nor any other method know 100% profitable trades, move on. Chart shows, that the next signal was a good one again (I didn't follow the ongoing PA).

josch
Author:  Adam63 [ Wed Jan 07, 2015 10:44 am ]
Post subject:  HGI
josch » Wed Jan 07, 2015 7:32 pm wrote:
Adam63 » Tue Jan 06, 2015 7:28 pm wrote:Just to provide some balance to all the rampant pipmaking going on around here ;) , here are my first 2 HGI trades. .....
Anyway, not an auspicious start...hopefully I can soon get in the groove that others seem to have achieved.
Adam,

not knowing, how your trading-experience is, my 2 ct:

On your first trade you better set your stop below the last swing. If you trust your trade, qualifying as a 'good' one, let him breathe a bit, means, don't be too fast to move up your Stop to BE.

On your second trade there's no swing high to set a SL as in first trade. I don't know, how much pips you risked, but same as above - you evaluated it as a 'good' trade or not? - If yes, possibly SL too small?

And neither HGI nor any other method know 100% profitable trades, move on. Chart shows, that the next signal was a good one again (I didn't follow the ongoing PA).

josch
josch,

Thanks for your input - what you say about giving trades room to breathe makes perfect sense. I do tend to move my stops to breakeven fairly quickly, sticking to the adage "don't let winners turn into losers". I've always had trouble reconciling this with giving trades enough space - not sure what the answer is. I will try to let things run a bit next time there's a classic-looking HGI trade.
Author:  josch [ Wed Jan 07, 2015 11:06 am ]
Post subject:  HGI
Adam63 » Wed Jan 07, 2015 5:44 am wrote: josch,

Thanks for your input - what you say about giving trades room to breathe makes perfect sense. I do tend to move my stops to breakeven fairly quickly, sticking to the adage "don't let winners turn into losers". I've always had trouble reconciling this with giving trades enough space - not sure what the answer is. I will try to let things run a bit next time there's a classic-looking HGI trade.
Adam,

may be this helps a bit:
What's your outlook for the trade USD/CAD? - Looking left it's the last high as first target.
So if you count this pip-distance and decide to set a SL at xxx with xxx pips ... if the R/R is ok with you, so go for it.

Same at the second ... SL difficult, but where is first target? Looks like the area, where the PA before was testing support around 91.80 and hovering around the 92 RN. My chart 01/06 8 pm shows yellow wave and Range Buy, so this 92 was a strong support - so far. And if riding this trade, you were able to cover it at contrary signals.

josch
Author:  dudest [ Wed Jan 07, 2015 11:10 am ]
Post subject:  HGI
Adam63 » Wed Jan 07, 2015 1:44 pm wrote: josch,

Thanks for your input - what you say about giving trades room to breathe makes perfect sense. I do tend to move my stops to breakeven fairly quickly, sticking to the adage "don't let winners turn into losers". I've always had trouble reconciling this with giving trades enough space - not sure what the answer is. I will try to let things run a bit next time there's a classic-looking HGI trade.
That adage has tripped up a host of traders

If you are a scalper, then it makes perfect sense

If you are a swing trader (which is what Bob/HGI are), you will keep getting stopped out/taken out at BE for nothing

A suggestion:
Trade off HGI for 1 week on a demo with same amount as you would trade in live.
Take all the valid signals, only exiting when the opposite signal appears or when the original SL is hit
( SL to be placed above/below the highs/lows in the vicinity of the sell/buy signal )

The confidence you gain when you see what is possible will reconcile it for you once and for all :)

Cheers
Author:  spotdespot [ Wed Jan 07, 2015 11:11 am ]
Post subject:  HGI
Adam63 » Wed Jan 07, 2015 11:44 am wrote: josch,

Thanks for your input - what you say about giving trades room to breathe makes perfect sense. I do tend to move my stops to breakeven fairly quickly, sticking to the adage "don't let winners turn into losers". I've always had trouble reconciling this with giving trades enough space - not sure what the answer is. I will try to let things run a bit next time there's a classic-looking HGI trade.
Adam- the reason getting to BE quickly can be a bad idea is easy to see if you look at the charts in a certain way. Essentially (imo!) every trade nearly everyone makes can be seen as a breakout trade. Whether that is a breakout in the classic sense of price going sideways for a significant period then heading in one direction (obviously usually not quite that straightforward) or a trend continuation (from a pullback or a "pause") or a trend change. In all these cases you can view it as a breakout from a price stall of one kind or another.

When there is a breakout price likes to return to the point of the "breakout". Perhaps best illustrated with a chart - see below using your NZDJPY H4 as an example - I have highlighted a few cases there. There are various theories re supply/demand etc for this but it really doesn't matter why for the purposes of the point I am making. The point being - if you set BE before price has revisited the origin of the breakout you will get stopped out at BE fairly often.

So what's the answer? Either:
  • take some profit off when you hit BE and accept you will often get taken out at BE for the rest
  • take the trade and only exit when you see whatever exit signal you want to see - whether in profit or not
  • take the trade on the retest of the origin of the breakout
  • probably plenty of other options too but I am sure you get the point
I hope that is of some use.

Cheers,
Dave.

EDIT: I should have said I would prefer to take the trade and exit when you get an exit signal. Same as dudest above I think.
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