stevehopwoodforex.com
https://www.stevehopwoodforex.com/phpBB3/
Print view

10.4 A Complete System
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481		 Page 116 of 745
Author:  mjws00 [ Wed Mar 06, 2013 1:47 am ]
Post subject:  Re: 10.4 A Complete System
etheldreda wrote:
eltax100 wrote:best trade so far, great system, grabs winners by the neck !! this trade is worth 2.5% could be a good time to take it of the table.
Hmm.. I miss that one because I still have that CADJPY running.
I use Zeljko filter that prevent me from having them both running. I wish I could have known which pair will have strong speed movement ;)
In this case AUDCAD would have been hit my TP (R1) meanwhile right now CADJPY is still floating anyway.
Well, that's okay... that's the risk I've chosen to prevent me being too expose to particular pair.

Congrats for the winning!
Regards,
-ethe-
I punched out of CADJPY peeker. Loved the set up. Hated how RSI was looking oversold even though price was still reasonably flat. Didn't want to ride it up in case of a breakout to the upside. So got out close to BE, and will re-enter if it looks good. Good luck to the patient ones.

Mike
Author:  etheldreda [ Wed Mar 06, 2013 2:02 am ]
Post subject:  Re: 10.4 A Complete System
mjws00 wrote:I punched out of CADJPY peeker. Loved the set up. Hated how RSI was looking oversold even though price was still reasonably flat. Didn't want to ride it up in case of a breakout to the upside. So got out close to BE, and will re-enter if it looks good. Good luck to the patient ones.

Mike
Hi Mike,
Your post made me realize I am so bad on trading management. When I have an open position I just wait for it to: hit TP, hit SL, or manually cut loss when price break certain level of S/R or AO change color (plus RSI cross back to the AO bar). But I didn't do further analysis as you did with price vs RSI.

Thank you for sharing..
-ethe-
Author:  mjws00 [ Wed Mar 06, 2013 2:03 am ]
Post subject:  Re: 10.4 A Complete System
f451 wrote:
Gertje wrote:Blast, 2nd week the AUDCHF closes me out at BE.

Need to look to the former weeks, to see how far the pair will usually travel during a weeks time. This pair seems to make 1 level, but not the 2nd.

I have to make some sort of list with this kind of information.
Now that sounds like damn useful info - Bob has already categorised the pairs according to volatility in the NB 10.2 booklet - this is a useful starting point, but experience will refine - people trading this method and logging trades - it would be worth examining your results to help understand which pairs run when and how far

Bob, Mike - thoughts beyond the excellent descriptions in NB 10.2 about this?
I log everything with logic, but my sample set for this is too small. I find a very high correlation between the weekly levels (mids being half) and ATR. Frankly if I can get 70-80% of a days move I am taking some profit. I will pyramid that second half, and be aggressive with those earnings, but I protect early and often. Other guys can play it much looser, but that doesn't scale well for me.

Mike
Author:  f451 [ Wed Mar 06, 2013 2:11 am ]
Post subject:  Re: 10.4 A Complete System
mjws00 wrote:
f451 wrote:
Gertje wrote:Blast, 2nd week the AUDCHF closes me out at BE.

Need to look to the former weeks, to see how far the pair will usually travel during a weeks time. This pair seems to make 1 level, but not the 2nd.

I have to make some sort of list with this kind of information.
Now that sounds like damn useful info - Bob has already categorised the pairs according to volatility in the NB 10.2 booklet - this is a useful starting point, but experience will refine - people trading this method and logging trades - it would be worth examining your results to help understand which pairs run when and how far

Bob, Mike - thoughts beyond the excellent descriptions in NB 10.2 about this?
I log everything with logic, but my sample set for this is too small. I find a very high correlation between the weekly levels (mids being half) and ATR. Frankly if I can get 70-80% of a days move I am taking some profit. I will pyramid that second half, and be aggressive with those earnings, but I protect early and often. Other guys can play it much looser, but that doesn't scale well for me.

Mike
Taking many small chunks is wise, especially if you reset your position sizes as your account grows. People underestimate the effect of compounding.
Author:  etheldreda [ Wed Mar 06, 2013 2:22 am ]
Post subject:  Re: 10.4 A Complete System
allisonmagic wrote:out of all the trades you guys got open already ( probably not from today ) nothing has triggered for me yet. just hangin out.. been 2 days and no movement
Hi Allison,
Don't worry, I have the similar pending order listed for EURGBP, GBPUSD, USDCHF, EURUSD and USDJPY. Also looking for the moment to place pending order for USDCAD. It seems exactly the same pairs as yours.
It still Wednesday morning anyway in my homeland ;) as Bob said, the big moves usually happened on Thursday or Friday. That's what I noticed this few last weeks since I've used 10.4.
For me, I will keep the pending order until Friday night, but will not place more on Friday.
So, let's wait for the price to move in our direction, open the pending order and hit the TP :D

-ethe-
Author:  pg2205 [ Wed Mar 06, 2013 2:24 am ]
Post subject:  Re: 10.4 A Complete System
Just want to show my thanks to Nanningbob and everyone else in this thread for the amazing contribution that 10.4 is. I've been using it on my live account for the last 4 weeks and I'm up just over 6%. For years I've struggled with many systems on Forexfactory including my own, blown up 3 live accounts but this system just "fits" me nicely. 10.4 presents me with trading opportunities in an a way that just “fits” me naturally. I can continue to work my day job and check my charts every 4 hours. Seriously, just an amazing brilliant piece of work Bob!!! 
Author:  bluedog23 [ Wed Mar 06, 2013 2:31 am ]
Post subject:  Re: 10.4 A Complete System
pg2205 wrote:Just want to show my thanks to Nanningbob and everyone else in this thread for the amazing contribution that 10.4 is. I've been using it on my live account for the last 4 weeks and I'm up just over 6%. For years I've struggled with many systems on Forexfactory including my own, blown up 3 live accounts but this system just "fits" me nicely. 10.4 presents me with trading opportunities in an a way that just “fits” me naturally. I can continue to work my day job and check my charts every 4 hours. Seriously, just an amazing brilliant piece of work Bob!!! 
Started trading the system last Friday; have taken 6 trades and up about 14%. One trade open now that is performing well, GBP/AUD. Thanks to all for the contributions. Special thanks to Bob for the tireless generosity in sharing his knowledge with others. I'm new to all of this (live trading) and all of this is logical and easy to follow.
Author:  Wiggy1965 [ Wed Mar 06, 2013 3:08 am ]
Post subject:  Re: 10.4 A Complete System
allisonmagic wrote:
etheldreda wrote:
allisonmagic wrote:out of all the trades you guys got open already ( probably not from today ) nothing has triggered for me yet. just hangin out.. been 2 days and no movement
Hi Allison,
Don't worry, I have the similar pending order listed for EURGBP, GBPUSD, USDCHF, EURUSD and USDJPY. Also looking for the moment to place pending order for USDCAD. It seems exactly the same pairs as yours.
It still Wednesday morning anyway in my homeland ;) as Bob said, the big moves usually happened on Thursday or Friday. That's what I noticed this few last weeks since I've used 10.4.
For me, I will keep the pending order until Friday night, but will not place more on Friday.
So, let's wait for the price to move in our direction, open the pending order and hit the TP :D

-ethe-

no i'm not worried, i think it's awesome that the rules of the system kept me from making some seriously stupid trades :D

The force is strong in this one...!
Author:  Wiggy1965 [ Wed Mar 06, 2013 3:56 am ]
Post subject:  Re: 10.4 A Complete System
OK,
I'm now staring to watch the following pairs for possible entries, these appear to be the only ones (on my platform) that are looking to setup in the next couple of hours, as RSI is either flattened, flattening or approaching 0 or 100..

USDCHF Long - Warning entry and previous high are close, so unless i get further pull back to pivot, i may pass on this one...

GBPUSD Short - I already have a sell at .5068 however if we see further pull back to above Weekly Res1 and previous high, i may modify this to below Weekly Res1 and just ride it to weekly pivot...I am a little concerned about this one and we maybe seeing a prolonged period of sideways, so we may not see the Weekly Support level for some time, so getting to this, may be a challenge...

EURUSD Short - Although this chart looks like the GBPUSD chart, it just feels better, however i will approach it the same way as the GBPUSD

USDCAD Long - I think it will make some further low and i will enter above Weekly Pivot, however i am concerned about the peaker candle from about 12 hours ago....So this is a 50/50 for me...

AUDUSD Short - Now i really like this trade....However i can get over thinking "If it's too good to be true, then it probably isn't" I'm not sure how much of this move is related to the hold on interest rates (I'm sure some of it is) and how long will it continue....The good thing with 10.4 is you can eat you cake as well...Some people may be in the traded now at the Weekly Res1 as per 10.4 black and white rules...Some maybe looking for RSI to turn down a little (that me)....and some may take the real conservative approach and enter below Weekly Pivot.....I wont be making a decision on this until i see RSI bend, which could be anytime now.....This trade is like the current AUSCAD trade, but in reverse and could have 300 pips in it if you stack trades down to the previous low....I'm watching this closely...

NZDUSD Short - There maybe further run up to MA in which I'll set pending at the Mid Pivot, however i already have a pending short at just below the Weekly Pivot at .82888....this is not back for a RR, as my stop is 80pis and my TP is 115 and if i re-enter at mid pivot, add another 60 pips....I like this one, it's discrete and could be a good trade....

Well, those are the one i'm looking at apart from the ones I'm in already

Regards
Wiggy
Author:  Chris [ Wed Mar 06, 2013 3:58 am ]
Post subject:  Re: 10.4 A Complete System
Just joined the forum here and have spent the last couple of days learning this system. Have now got about 9 pending orders. Wish me luck. I hope to be able to contribute and learn with the rest of you all. Looks like a great thread and system.
Thanks!
All times are UTC Page 116 of 745

Powered by phpBB® Forum Software © phpBB Limited