stevehopwoodforex.com • 10.3 SCALPER/RANGE TRADE SYSTEM

Author:

kwanann [ Wed Feb 06, 2013 11:39 pm ]

Post subject:

Re: 10.3 SCALPER/RANGE TRADE SYSTEM

xrismak wrote:
kwanann wrote:
nanningbob wrote:
barnov wrote:
Just in case anyone is interested I did trade yesterday and was 9-3 with a 1.4% increase in my account. Just in case people are still trading out there.
Hi Bob, yes still interested in hearing what people are upto....personally had 5 trades which broke even in pips but little down in £s. Trying to evaluate my entry positions and MM to see what I did right and what I did wrong and what I could do better.

Be interested to know if you took 10.2a/103 trades, and little summary of entry , SL,TP

Also, when you suggest 1% risk, does this mean that the lotsize for each trade differs so that the when you convert the risk to your base currency = 1% risk in $, reason I ask is that for my demo trading I'm using same lot size for all trades which is how I managed a breakeven on pips but loss in £s.

Regards

Paul.
They were all 10.2a trades and I use 1/2% risk on a trade. I use the same lot size in all trades so some will be bigger or smaller based on currency exchange rates. So lot size is based on eur/usd for me. What ever makes my SL =1/2% of my account on eur/usd then that is what I will use on all trades. In 10.2a you trade weekly open above weekly pivot instead of daily. Longer term trades you may get once a week but more profitable than scalping. 4H is my favorite trading chart so but need to be more patient with trades. Here is the usd/jpy trade I took yesterday. Look for JPY trades no one is going to do any long term buy of JPY right now. I am finding it easy to trade every week.
USDJPY just reached the 94 level and did a major retracement, good time to buy in!

anyway yes that was a good area, in fact the candle just slightly before was even better, that's where I got in my 2nd entry and its on its merry way up

on a sidenote, due to the extreme volatility, and also based on fundamentals of USDJPY, i'm actually doing manual trading (no SL, no MPTM) with this pair with a stop at 94.250 which should be reached quite soon based on the way its going.

I do have a Multibob running all pairs on 10.2/10.2a running and other than the few JPY buy trades that went bad in the early part of the week, its been pretty much drawing in pips so far. i'm also risking a variable % of SL based on 2xATR to give it room to breath, which also managed to turn some seemingly losing trades back to profit

Bob,
I have been trading too, hey Kwannan, I have something I am going to let you into later on via PM, I have tried it several times and hey it works like clock work, I gleaned the idea off Jemook and since I started with that Style I have had No Regrets at all, I will eventually take the Style and use it on a Global Prime Live Account very Soon, assuming the Style and System keeps on working for the next 8 weeks of testing.

Happy Trading Y'all,

xrismak

Sure thing xrismak, just closed out one of the long usd jpy positions since it didn't go where I wanted it to go, the other has a sl which will give a slight profit. Going to change the tp to the next resistance at 94'8 and sit it out, worse case small profit, best case finally will cover my losses.

Going to be holiday on my side, so it's family time, money cannot get back time lost with family

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Author:	nanningbob [ Tue Feb 05, 2013 10:03 pm ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Just in case anyone is interested I did trade yesterday and was 9-3 with a 1.4% increase in my account. Just in case people are still trading out there.

Author:	barnov [ Tue Feb 05, 2013 10:42 pm ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Just in case anyone is interested I did trade yesterday and was 9-3 with a 1.4% increase in my account. Just in case people are still trading out there. Hi Bob, yes still interested in hearing what people are upto....personally had 5 trades which broke even in pips but little down in £s. Trying to evaluate my entry positions and MM to see what I did right and what I did wrong and what I could do better. Be interested to know if you took 10.2a/103 trades, and little summary of entry , SL,TP Also, when you suggest 1% risk, does this mean that the lotsize for each trade differs so that the when you convert the risk to your base currency = 1% risk in $, reason I ask is that for my demo trading I'm using same lot size for all trades which is how I managed a breakeven on pips but loss in £s. Regards Paul.

Author:	nanningbob [ Wed Feb 06, 2013 3:10 am ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
barnov wrote: Just in case anyone is interested I did trade yesterday and was 9-3 with a 1.4% increase in my account. Just in case people are still trading out there. Hi Bob, yes still interested in hearing what people are upto....personally had 5 trades which broke even in pips but little down in £s. Trying to evaluate my entry positions and MM to see what I did right and what I did wrong and what I could do better. Be interested to know if you took 10.2a/103 trades, and little summary of entry , SL,TP Also, when you suggest 1% risk, does this mean that the lotsize for each trade differs so that the when you convert the risk to your base currency = 1% risk in $, reason I ask is that for my demo trading I'm using same lot size for all trades which is how I managed a breakeven on pips but loss in £s. Regards Paul. They were all 10.2a trades and I use 1/2% risk on a trade. I use the same lot size in all trades so some will be bigger or smaller based on currency exchange rates. So lot size is based on eur/usd for me. What ever makes my SL =1/2% of my account on eur/usd then that is what I will use on all trades. In 10.2a you trade weekly open above weekly pivot instead of daily. Longer term trades you may get once a week but more profitable than scalping. 4H is my favorite trading chart so but need to be more patient with trades. Here is the usd/jpy trade I took yesterday. Look for JPY trades no one is going to do any long term buy of JPY right now. I am finding it easy to trade every week.

Author:	kwanann [ Wed Feb 06, 2013 6:17 am ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
nanningbob wrote: barnov wrote: Just in case anyone is interested I did trade yesterday and was 9-3 with a 1.4% increase in my account. Just in case people are still trading out there. Hi Bob, yes still interested in hearing what people are upto....personally had 5 trades which broke even in pips but little down in £s. Trying to evaluate my entry positions and MM to see what I did right and what I did wrong and what I could do better. Be interested to know if you took 10.2a/103 trades, and little summary of entry , SL,TP Also, when you suggest 1% risk, does this mean that the lotsize for each trade differs so that the when you convert the risk to your base currency = 1% risk in $, reason I ask is that for my demo trading I'm using same lot size for all trades which is how I managed a breakeven on pips but loss in £s. Regards Paul. They were all 10.2a trades and I use 1/2% risk on a trade. I use the same lot size in all trades so some will be bigger or smaller based on currency exchange rates. So lot size is based on eur/usd for me. What ever makes my SL =1/2% of my account on eur/usd then that is what I will use on all trades. In 10.2a you trade weekly open above weekly pivot instead of daily. Longer term trades you may get once a week but more profitable than scalping. 4H is my favorite trading chart so but need to be more patient with trades. Here is the usd/jpy trade I took yesterday. Look for JPY trades no one is going to do any long term buy of JPY right now. I am finding it easy to trade every week. USDJPY just reached the 94 level and did a major retracement, good time to buy in! anyway yes that was a good area, in fact the candle just slightly before was even better, that's where I got in my 2nd entry and its on its merry way up on a sidenote, due to the extreme volatility, and also based on fundamentals of USDJPY, i'm actually doing manual trading (no SL, no MPTM) with this pair with a stop at 94.250 which should be reached quite soon based on the way its going. I do have a Multibob running all pairs on 10.2/10.2a running and other than the few JPY buy trades that went bad in the early part of the week, its been pretty much drawing in pips so far. i'm also risking a variable % of SL based on 2xATR to give it room to breath, which also managed to turn some seemingly losing trades back to profit

Author:	serialk_ll [ Wed Feb 06, 2013 12:22 pm ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Hi, I read great enthusiasm topic. I send you a message best regards

Author:	barnov [ Wed Feb 06, 2013 3:40 pm ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
They were all 10.2a trades and I use 1/2% risk on a trade. I use the same lot size in all trades so some will be bigger or smaller based on currency exchange rates. So lot size is based on eur/usd for me. What ever makes my SL =1/2% of my account on eur/usd then that is what I will use on all trades. In 10.2a you trade weekly open above weekly pivot instead of daily. Longer term trades you may get once a week but more profitable than scalping. 4H is my favorite trading chart so but need to be more patient with trades. Here is the usd/jpy trade I took yesterday. Look for JPY trades no one is going to do any long term buy of JPY right now. I am finding it easy to trade every week. Bob, thanks for previous reply. May I ask what your entry method/point was e.g. pending entry at certain price or cross of WP etc vs EA trade submission (I recall you mentioning a perference to pending orders), and what was your MM solution e.g. MPTM, manual uplift of SL etc. or straight forwd TP hit, or did you part-close with remainder let open. I also had visibility of USDJPY long, and entered pending trade just below WP - looking for retracement, which never got taken, so missed out on the upward journey. I've really got to improve my own MM. Currently running with SL=50, TP=100, BE at 25, and SL moved to -25 at BE, and then JSL after BE = 5... have managed to hit 1st target and closed for some profit but have had a few remaining SLs hit even at -25, only for the journey to reverse again and continue in the right direction. Apologies for number of questions - buty hopefuly others are benefitting from the exchange Regards Paul

Author:	xrismak [ Wed Feb 06, 2013 3:44 pm ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
kwanann wrote: nanningbob wrote: barnov wrote: Just in case anyone is interested I did trade yesterday and was 9-3 with a 1.4% increase in my account. Just in case people are still trading out there. Hi Bob, yes still interested in hearing what people are upto....personally had 5 trades which broke even in pips but little down in £s. Trying to evaluate my entry positions and MM to see what I did right and what I did wrong and what I could do better. Be interested to know if you took 10.2a/103 trades, and little summary of entry , SL,TP Also, when you suggest 1% risk, does this mean that the lotsize for each trade differs so that the when you convert the risk to your base currency = 1% risk in $, reason I ask is that for my demo trading I'm using same lot size for all trades which is how I managed a breakeven on pips but loss in £s. Regards Paul. They were all 10.2a trades and I use 1/2% risk on a trade. I use the same lot size in all trades so some will be bigger or smaller based on currency exchange rates. So lot size is based on eur/usd for me. What ever makes my SL =1/2% of my account on eur/usd then that is what I will use on all trades. In 10.2a you trade weekly open above weekly pivot instead of daily. Longer term trades you may get once a week but more profitable than scalping. 4H is my favorite trading chart so but need to be more patient with trades. Here is the usd/jpy trade I took yesterday. Look for JPY trades no one is going to do any long term buy of JPY right now. I am finding it easy to trade every week. USDJPY just reached the 94 level and did a major retracement, good time to buy in! anyway yes that was a good area, in fact the candle just slightly before was even better, that's where I got in my 2nd entry and its on its merry way up on a sidenote, due to the extreme volatility, and also based on fundamentals of USDJPY, i'm actually doing manual trading (no SL, no MPTM) with this pair with a stop at 94.250 which should be reached quite soon based on the way its going. I do have a Multibob running all pairs on 10.2/10.2a running and other than the few JPY buy trades that went bad in the early part of the week, its been pretty much drawing in pips so far. i'm also risking a variable % of SL based on 2xATR to give it room to breath, which also managed to turn some seemingly losing trades back to profit Bob, I have been trading too, hey Kwannan, I have something I am going to let you into later on via PM, I have tried it several times and hey it works like clock work, I gleaned the idea off Jemook and since I started with that Style I have had No Regrets at all, I will eventually take the Style and use it on a Global Prime Live Account very Soon, assuming the Style and System keeps on working for the next 8 weeks of testing. Happy Trading Y'all, xrismak

Author:	barnov [ Wed Feb 06, 2013 5:32 pm ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
xrismak / kwannan (et al) - please feel free to share your recent experiences /efforts trading 10.2/10.3 - I'd be very intersted to underatsnad soem of your entries, Sls, TP, MM etc (I'm sure others will be interested too) xrismak - also feel free to PM your "secret testing/results" over here Regards Paul.

Author:	nanningbob [ Thu Feb 07, 2013 12:42 pm ]
Post subject:	Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Please check out this indi with different brokers. You will need to put a 240 MA OPEN LWMA on a 4H chart and this indi. It will tell you three things 1. Present price 2. distance to the 240 MA line 3. what size your lot size would be if you had 1000 dollars in your account to suffer a stop loss at this line. Approximately what % of your account. This indi is an important piece to 10.4 and want to make sure it works. You must understand because of rounding down or up these numbers are approximates. So to find out if it is working properly you take the number of pips to the 240 line multiply it by the recommended lot size and you should get a figure near 5.00 dollars for .5% 10.00 dollars for 1% and 20.00 dollars for 2% SL. This is to help you figure your lot size to account size properly for your trades. So if it says .03 for a 1000 dollar account you would use a lot size of .09 on a 3000 dollar account. Will explain later how it is used when I put up the complete system. The pic below shows how to measure distance. 175 x.03= $5.25 or approximately 1/2% of a 1000 dollar account. 175 x .07 = 12.25 or 1.2% of account balance on a 1000 dollar account. If you wish to risk 2% then it is 175 x .14 or 24.64. This does not take into account the different values on various cross pairs. It is to give you a quick best estimate. Because of rounding and limited size of lot figures these are approximate values but close. Thanks.

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