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10.3 SCALPER/RANGE TRADE SYSTEM
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=919		 Page 164 of 178
Author:  traderduke [ Mon Jan 28, 2013 9:20 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
pips400,
thanks for the quick reply. I like ADX but it tends to miss a lot of the action when I use Renko. At this time I'm working on a "flat market" indicator along with 10.3 pivots & MAs. I'll post when I have something.

Thanks again
pips400 wrote:Hi Ray, I'm using 1 hour charts, the ADX filter is a standard Empty4 indicator, (Average Directional Movement Index), use standard settings (period 14). Again Stochastic is standard settings 5, 3, 3. Stop loss 40, and move to Break Even 30 pips. I'm now just using the TMA True, with signals at 0.4/-0.4 not 0.8/-0.8. I'm letting it run another week, but modifications may include drawing upper and lower trendlines/support and resistance/Daily Pivot, and program the EA to only open position once Price Action has broken through, which is pretty close to the 10.2 setup. I find the ADX and Stoch filters do a pretty good job of reducing whipsaw so loosers are minimised, but the setup is able to ride the bigger trends all the way until both TMA Slope and ADX reverse, which is why it netted 1600 pips in a couple of days (2000 minus 400) . But the markets wont always play so nice, so I'm guessing the final verdict on this one, will be how much drawdown/losses are suffered during the ranging periods.
Author:  kwanann [ Mon Jan 28, 2013 9:47 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
pips400 wrote:Hi Ray, I'm using 1 hour charts, the ADX filter is a standard Empty4 indicator, (Average Directional Movement Index), use standard settings (period 14). Again Stochastic is standard settings 5, 3, 3. Stop loss 40, and move to Break Even 30 pips. I'm now just using the TMA True, with signals at 0.4/-0.4 not 0.8/-0.8. I'm letting it run another week, but modifications may include drawing upper and lower trendlines/support and resistance/Daily Pivot, and program the EA to only open position once Price Action has broken through, which is pretty close to the 10.2 setup. I find the ADX and Stoch filters do a pretty good job of reducing whipsaw so loosers are minimised, but the setup is able to ride the bigger trends all the way until both TMA Slope and ADX reverse, which is why it netted 1600 pips in a couple of days (2000 minus 400) . But the markets wont always play so nice, so I'm guessing the final verdict on this one, will be how much drawdown/losses are suffered during the ranging periods.
Sorry I.m quite confused over the way people are mentioning pips. Does it mean the traditional non ECn pip where 1 pip equals 10$ or the ECn one where 1 pip equals 1$
Author:  trjfx [ Mon Jan 28, 2013 10:48 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
been out of the loop for a few weeks, so how goes the new pivot times and such. is anyone in the states cst time zone using offsets and if so what are your offsets?

I've tried diff. offsets but i've changed them around so much i have lost confidence in what i'm seeing.

Hey Mike sounds like you've found a way that works for you. How about a little sharin there bud? Maybe some of us could help with working the kinks out for ya??

Terry
Author:  nanningbob [ Tue Jan 29, 2013 12:01 am ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
I will be in the SanFran Sant Clara area seeing my son and family from Feb 17 to 24. Anyone interested in a "cup of tea" let me know.
Author:  nanningbob [ Tue Jan 29, 2013 4:49 am ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
kwanann wrote:
pips400 wrote:Hi Ray, I'm using 1 hour charts, the ADX filter is a standard Empty4 indicator, (Average Directional Movement Index), use standard settings (period 14). Again Stochastic is standard settings 5, 3, 3. Stop loss 40, and move to Break Even 30 pips. I'm now just using the TMA True, with signals at 0.4/-0.4 not 0.8/-0.8. I'm letting it run another week, but modifications may include drawing upper and lower trendlines/support and resistance/Daily Pivot, and program the EA to only open position once Price Action has broken through, which is pretty close to the 10.2 setup. I find the ADX and Stoch filters do a pretty good job of reducing whipsaw so loosers are minimised, but the setup is able to ride the bigger trends all the way until both TMA Slope and ADX reverse, which is why it netted 1600 pips in a couple of days (2000 minus 400) . But the markets wont always play so nice, so I'm guessing the final verdict on this one, will be how much drawdown/losses are suffered during the ranging periods.
Sorry I.m quite confused over the way people are mentioning pips. Does it mean the traditional non ECn pip where 1 pip equals 10$ or the ECn one where 1 pip equals 1$
You are confusing lot size with pips. A pip is always the same and has nothing to do with amount of money. For example the price of gbp/usd on a 5 digit broker is 1.57046 and a 4 digit broker 1.5704 The four is always the pip or 1/100 of a penny. On a 3 digit number like USD/JPY price is 90.932 with a 5 digit broker it would be 90.93 with a 4 digit broker, the 3 is always the pip. A pip is a fraction of a penny. That is how you can understand it in USA money. However, when you get to other currencies crosses it maybe more or less than 1/100th of a penny.

Definition: Pip stands for percentage in point. A pip is equal to 1/100th of 1 percent. In USA money 100 pips equals one penny in real money. In USD/JPY,the quotation is only taken out to two decimal points (i.e. to 1/100 th of yen)

Often beginners will quote huge pip counts when in reality they are using the 5th digit and so all their totals are times 10 too big. The fifth digit is a marketing gimmick since there is no such thing a 1/1000 of a penny but they can say we offer 1.2 pip instead of the other broker who offers 1.8 pips. When you make money and it is deposited to your account everything is rounded up (got some swamp land in Florida if you believe that one) or down to the nearest penny so you lose those last 2 or 3 numbers. No such thing as a tenth of a penny. So if you close a trade at 1.57046 in real money you will get 1.57. Banks will not deposit neither can you take out or spend a 1/10th or 1/100th of a penny. The broker or bank however, will add the mini pips and over time that will add up.
Author:  nanningbob [ Tue Jan 29, 2013 5:06 am ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
I like to clarify how much money that gets deposited does depend on your lot size or amount you are trading so if you are trading 1 penny you get 1.57 if you are trading 10 cents you get 15.70 and you are trading a dollar you get 157.04 and so on.
Author:  effluvium [ Tue Jan 29, 2013 12:00 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
traderduke wrote:pips400,
thanks for the quick reply. I like ADX but it tends to miss a lot of the action when I use Renko. At this time I'm working on a "flat market" indicator along with 10.3 pivots & MAs. I'll post when I have something.
Thanks again
Traderduke,
The ADX version attached to your previous chart shows added color (Green & Red) on the ADX slope when it is rising / decreasing which Standard ADX indicator doesn't have. Could you post this ADX enhanced version? Thanks in advance.
Author:  traderduke [ Tue Jan 29, 2013 3:19 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
effluvium,
Here you go!
effluvium wrote:
traderduke wrote:pips400,
thanks for the quick reply. I like ADX but it tends to miss a lot of the action when I use Renko. At this time I'm working on a "flat market" indicator along with 10.3 pivots & MAs. I'll post when I have something.
Thanks again
Traderduke,
The ADX version attached to your previous chart shows added color (Green & Red) on the ADX slope when it is rising / decreasing which Standard ADX indicator doesn't have. Could you post this ADX enhanced version? Thanks in advance.
Author:  atharmian [ Wed Jan 30, 2013 12:52 am ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Here is a great article from WSJ, fresh off the press- says trending might be back after the late 2012 ranging:

Currency Volatility Revives Market, Jan 29-2012

http://online.wsj.com/article/SB1000142 ... lenews_wsj
Author:  nanningbob [ Wed Jan 30, 2013 2:29 am ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
atharmian wrote:Here is a great article from WSJ, fresh off the press- says trending might be back after the late 2012 ranging:

Currency Volatility Revives Market, Jan 29-2012

http://online.wsj.com/article/SB1000142 ... lenews_wsj
I have been taking more 10.2 trades lately as the market has gotten more volatile. Back to my 4H charts where I make most of my money. Keep 10.3 for ranging markets. :)
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