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| 10.3 SCALPER/RANGE TRADE SYSTEM https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=919 |
Page 146 of 178 |
| Author: | nanningbob [ Tue Jan 15, 2013 1:35 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
OK now try sizing your lot size so you make .5% to 2% in a day. Once you see consistency there then you can .............................. Get confidence in your trading. So lets say on a good day you make 2%. 100 dollar account is 2 dollars, 1000 account is 20 dollars, 10K account is 200 dollars, 100k account is 2000 dollars. Those are the goals you want to set for yourself. 2000 dollars in a day is a nice living. 10K account 1000 a week is survivable income. 10K a week, now we talking, go visit Mr. Hopwood in England every year. |
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| Author: | trjfx [ Tue Jan 15, 2013 2:10 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
bob if i ever reach the point where i am making 10k a week i promise i will vist both you and steve. I still have to get control of my emotions when i trade larger lots, i get all freaked out and close too soon or too early. but hopefully time and more small trading will instill the confidence i need in myself to get to that point. Terry |
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| Author: | trjfx [ Tue Jan 15, 2013 2:35 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
a quick question to everyone. How are you guy's using Phil's indi flying budda. I tried it a few times to CT on small TF but other than that it seems to just be another MA Cross or am i missing something Terry |
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| Author: | nanningbob [ Tue Jan 15, 2013 2:50 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Not used to seeing such big moves during the JPY session but CHF collapse and some strengthening of JPY. USD/CHF up USD/JPY down. |
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| Author: | nanningbob [ Tue Jan 15, 2013 2:58 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
One of my favorite threads at FF. Darkstar takes time to explain Forex and how it works. If you have not read this you need to read it. Enjoy. http://www.forexfactory.com/showthread.php?t=7484 |
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| Author: | kwanann [ Tue Jan 15, 2013 3:05 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Hi Terry, A word of advise.. try not to risk more than 1 to 2% per trade. The market may go with you some of the time, but there is also the chance that it will go the other way and you are in for a ride. Trading big lots was how i managed to recoup my losses, and also how i managed to change my breakeven to even more losses. Take today's JPY trading, all seemed well and good with a nice uptrend. if you had gotten confident and taken big lots, you would have been in for a ride just a few hours later due to a news event which effectively made all jpy sells go down almost 40pips. Imagine you traded at 10c from a 1K account on the trade, you would have lost $40, trading at a dollar would have cost u $400, which might have triggered a margin call *Edit: looks like the run is not over yet, 70pips and counting |
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| Author: | trjfx [ Tue Jan 15, 2013 3:16 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
kwanan, yes i understand and agree 100 pct. with you. right now i am very happy with my penny and dime lots at least if i am wrong , which is very often, i won't lose my butt. yeah i got out of everything about an hour ago. I was just really concerned with being in trades when almost everything is at all time highs. For once i was sorta right. T |
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| Author: | nanningbob [ Tue Jan 15, 2013 6:01 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
I updated the two 10x1 continuous EAs. I added a phrase in the coding so price will not enter on the opposite side of the red line. For example if the 1 median is higher than the 10MA but price spikes south. Price could be below the 10MA line but the 1 MA Median could still be above causing you to get maybe two or three SL hits on a nasty spike. With this modification price will only enter again if price is still on the same side of the MA line and is still on the same candle it entered on. Once a new candle is formed price will not reenter since the code requires the 1MA to be on the other side of the 10 MA on the previous candle. I cannot solve the problem of a spike that hits a TP in the same candle it entered. For example my MPTM enters a TP of 100 pips. If price enters and it hits 100+pips on that same candle and hits the TP it will enter a new trade again. Of course if price moves that much in one candle it most likely will be going up more for some reason. That would be one heck of a move. The best chance of that happening though would be on a 4H candle. Anyway I am more worried about a spike and then reverses suddenly which can often happen in news stories. At least now it wont be entering on the opposite side of the 10MA line. |
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| Author: | djdylan [ Tue Jan 15, 2013 6:30 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Thank you Bob What a brilliant and enlightening post that is. Dylan |
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| Author: | Mike [ Tue Jan 15, 2013 8:54 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
NB thanks With that many gifts we get, I need some help. Has anybody made an overview/summary/algorithm of what the EAs are doing and when to use, with what limitations/preferences which EA? 10.3 10.0 MA BUY/SELL ANY TF SHFM 11.12 10.3 1X10 BUY/SELL.CLOSE 1.1 10.3 5.1 MA BUY/SELL ANY TF SHFM 11.12 10.3 BUY/SELL DOpen W.MA filter 1.8.13 10.3 BUY/SELL DPivot W.MA filter 10.3 MA BUY/SELL DP ONLY 10.3 MA BUY/SELL DP.DO If you could share, thanks. Confused as always, Mike |
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