stevehopwoodforex.com • 10.3 SCALPER/RANGE TRADE SYSTEM

Author:

kwanann [ Tue Jan 15, 2013 12:10 pm ]

Post subject:

Re: 10.3 SCALPER/RANGE TRADE SYSTEM

Jedster wrote:
nanningbob wrote: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.
Did you see the cause of this JPY move...

USD/JPY dropped 90 pips overnight to 88.63 at 0302 GMT following a headline that was translated incorrectly by a major newswire.

The first headline that was ran cited Japan's Economy Minister Amari saying that JPY 'has corrected to level in line with fundamentals', which implied (and the market perceived as) that JPY has already weakened enough. This led to a 90 pip sell-off over the course of an hour.

However USD/JPY did recover slightly once the correction was run stating that 'JPY is correcting in line with fundamentals'.

Scary that such a subtle change in wording can cause such a dramatic change in the market...

Just wondering, where do you guys get the news from? Looking at daily fx seems to be true

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Author:	Jedster [ Tue Jan 15, 2013 9:15 am ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
nanningbob wrote: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. Did you see the cause of this JPY move... USD/JPY dropped 90 pips overnight to 88.63 at 0302 GMT following a headline that was translated incorrectly by a major newswire. The first headline that was ran cited Japan's Economy Minister Amari saying that JPY 'has corrected to level in line with fundamentals', which implied (and the market perceived as) that JPY has already weakened enough. This led to a 90 pip sell-off over the course of an hour. However USD/JPY did recover slightly once the correction was run stating that 'JPY is correcting in line with fundamentals'. Scary that such a subtle change in wording can cause such a dramatic change in the market...

Author:	profuse [ Tue Jan 15, 2013 11:09 am ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Jedster, If you would choose to put Smooth MA 5 Low and another Smooth MA 5 High into you chart, it would keep you out of trades like that: if Price stays in between those lines, do not trade! Regards, Ben Jedster wrote:Can I ask how you played Friday for the EU? I see potentially 3 entries that depend on the SL that was being used. EU.jpg Entry 1 was the 7am GMT candle and would have stopped out within an hour if the SL was less than 15. Entry 2 would have stopped out within a couple of hours if the stop was less than 20. The 3rd entry took off. I'm wondering who traded EU on Friday and how they got on and I'm guessing it was completely dependent on the stop loss being used? Thanks J

Author:	Jedster [ Tue Jan 15, 2013 11:16 am ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Thanks for the suggestion, I'll take a look. profuse wrote:Jedster, If you would choose to put Smooth MA 5 Low and another Smooth MA 5 High into you chart, it would keep you out of trades like that: if Price stays in between those lines, do not trade! Regards, Ben Jedster wrote:Can I ask how you played Friday for the EU? I see potentially 3 entries that depend on the SL that was being used. EU.jpg Entry 1 was the 7am GMT candle and would have stopped out within an hour if the SL was less than 15. Entry 2 would have stopped out within a couple of hours if the stop was less than 20. The 3rd entry took off. I'm wondering who traded EU on Friday and how they got on and I'm guessing it was completely dependent on the stop loss being used? Thanks J

Author:	Jedster [ Tue Jan 15, 2013 12:57 pm ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
I get the news/headlines from Ransquawk. It updates pretty much as events happen.

Author:	kwanann [ Tue Jan 15, 2013 1:15 pm ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Jedster wrote:I get the news/headlines from Ransquawk. It updates pretty much as events happen. hmm looks like a paid service, the free one is delayed by 5 minutes..

Author:	themaxx [ Tue Jan 15, 2013 4:13 pm ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
kwanann wrote: Jedster wrote:I get the news/headlines from Ransquawk. It updates pretty much as events happen. hmm looks like a paid service, the free one is delayed by 5 minutes.. maybe getting a bit off topic but theres a free version of talking-forex.com's headlines here http://zerohedge.talking-forex.com/live.html

Author:	MurphyMan [ Tue Jan 15, 2013 7:13 pm ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
I have something wrong in my setup here. The two bars at the lower right of the screen are green on all pairs. I am using the #10.3 1x10 w.1.09 template. Any ideas? I hate asking these "dumb" questions. EDIT: Just figured it out. I had to load DWMPivots onto a chart, then save the template again.. Then I used a script I have that changes all the templates.

Author:	Allonso [ Tue Jan 15, 2013 7:56 pm ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Hi Nanningbob, Yes I agree pictures do help explain the how and why of a system. So heres a picture of your NZD/JPY trade on the 14th Jan. First signal of a possible change the 15M MTF crossing above it's MA. White dashed vetical line. Conformation signal, H4 MTF crossing above it's MA. Magenta dashed vertical line. Buy on the open of the following candle. H1 did not show agreement this time but when it does and all three are agreement it's usually a strong signal. Closed the trade on the first candle after the drop below the MA's of the H1 and H4 MTF's. Blue dashed vertical line, for gain of 40 pips. Allonso

Author:	vdwaltme [ Wed Jan 16, 2013 5:05 am ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Hi Bob I've placed the 10XEA on a chart and it triggered 17 trades within a few seconds. It also closed it just after opening it. Could it be that at that point, MPTM 10.3 -18+100 and Jump EA was NOT placed yet?

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