Oh no, my wonderful A grade setup CadJap........... 
: : 18 more pips.......| stevehopwoodforex.com https://www.stevehopwoodforex.com/phpBB3/ Print view |
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| 10.4 A Complete System https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481 |
Page 129 of 745 |
| Author: | Nipponho [ Thu Mar 07, 2013 10:59 am ] |
| Post subject: | Re: 10.4 A Complete System |
| Oh no, my wonderful A grade setup CadJap........... : : 18 more pips....... |
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| Author: | Gertje [ Thu Mar 07, 2013 11:06 am ] |
| Post subject: | Re: 10.4 A Complete System |
RSI on the M30 topped already, getting reversal soon.....? If it does, I get out at BE. |
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| Author: | Pueo [ Thu Mar 07, 2013 11:10 am ] |
| Post subject: | Re: 10.4 A Complete System |
It's a good idea to have a look at the daily chart before placing your trade.. |
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| Author: | mandj19 [ Thu Mar 07, 2013 11:16 am ] |
| Post subject: | Re: 10.4 A Complete System |
Like many others judging by the size of this thread 10.4 has caught my imagination and I'm currently running with some very small trades on my micro live account. The question of when to close is always a dilemma - in this case my TPs are set to weekly support (WS1) positions however I also use a very simple EA 'Close at Profit' which I obtained from codebase. Here it is possible to set either or both of a TP or SL level and I use it as a basket override - for today I have set my basket at £50 (it's a micro account) and so the EA will close even if the WS1 levels are not reached. This in no way replaces the excellent MPTM which I have used on many previous occasions - for me it simply provides an alternative means of closing and I use it in conjunction with weekly pivot targets. Here are screeshots of the codebase page and the EA in use on my live account this morning using my slightly customised version of the standard 10.4 template. Note that I have hacked the EA code to remove the words which are on the standard version so it simply shows target (in green) and actual (in white). I'm no programmer and it is easy to make simple changes like this to the mql code. |
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| Author: | Gertje [ Thu Mar 07, 2013 11:17 am ] |
| Post subject: | Re: 10.4 A Complete System |
Not sure what you're getting at, placed pending on monday already...  |
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| Author: | Pueo [ Thu Mar 07, 2013 11:44 am ] |
| Post subject: | Re: 10.4 A Complete System |
I wouldn't feel so comfortable doing a "trend trade" short when the daily is clearly up. |
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| Author: | Gertje [ Thu Mar 07, 2013 12:07 pm ] |
| Post subject: | Re: 10.4 A Complete System |
I understand that, but it has to go up before it can come down again. |
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| Author: | Gertje [ Thu Mar 07, 2013 1:02 pm ] |
| Post subject: | Re: 10.4 A Complete System |
SL hit |
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| Author: | Nipponho [ Thu Mar 07, 2013 1:20 pm ] |
| Post subject: | Re: 10.4 A Complete System |
Yeah, i know what u mean. But when i was observing them putting in trades for past few weeks, i notice some of the setups also have directional inconsistencies with D1 charts. 10.4 says we obtain the direction from the 240ma. If we need to fulfill this consistency requirement, then we may have filter away many trades, leaving us with only one or 2 trades per week. And usually such setups with D1 directional consistency would also mean quite a distance from 240MA with larger SL. So if we keep to 1 or 2% risk, we will have to trade very small lots. My NU trade also have similar inconsistency. hmmmmmmm....... fortunately i entered 0.01 lot for this trade, so it is not that bad, about US$11-13 loss. It is the disappointment. Since it is so small lot, i will leave it for a while to see if there is rejection of 240ma. If not, i will cut and move on. |
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| Author: | Wiggy1965 [ Thu Mar 07, 2013 2:01 pm ] |
| Post subject: | Re: 10.4 A Complete System |
Hi Pueo, There may be something to what you are saying, i may look at dailies just to provide more information.... Not sure how i will use the information at this point.... I have been stopped out on a number of JPY crosses due to the retrace and all were trades were price has only recently moved below the 240MA and obviously with the stop out, gone above the MA.....They also all appear to be in an uptrend on the daily chart.....So, we (not sure about others, but certainly me) were trying to trying to short when there does appear to be an up trend on the longer time frames....All the the above my be rubbish the JPY move may just be a peaker that has been brought about due the Japanese Central bank stuff and wee may continue short in the next 5 minutes...or day... Anyway, as much as they hurt, you learn more from stop outs that you do from wins... Regards Wiggy |
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