stevehopwoodforex.com
https://www.stevehopwoodforex.com/phpBB3/
Print view

10.4 A Complete System
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481		 Page 185 of 745
Author:  Gertje [ Thu Mar 14, 2013 2:22 pm ]
Post subject:  Re: 10.4 A Complete System
Right.

I have a pending since yesterday at the MS1.
With my broker the spread for GBPCAD is 12 pips, so I need to be at least 12 pips above the WP to enter the pending. Hasn't happened yet today.

Hey, I want to beat Bob for the 1000pip week...... :lol:
cmeade2 wrote:So you would not have taken the trade at the first hit of the WP. As you say, you are looking for it on the way down. Right?
Gertje wrote:
cmeade2 wrote:You mean only if you enter an order to sell at the WP?
Gertje wrote:
cmeade2 wrote:Short GbpCad at the WP?
Only as a stop-order, not as a limit- or market- order.
Learned that the hard-way..... :?
Only if price moves way above, so I can enter a pending to fill on the way down.

I have been to 'triggerhappy' in the past, and was affraid to miss the entry so made a market- or limit order to make sure I was part of the move. Several times the price kept running against me, or went nowhere.
Author:  cmeade2 [ Thu Mar 14, 2013 2:24 pm ]
Post subject:  Re: 10.4 A Complete System
Are you close?
Gertje wrote:
Hey, I want to beat Bob for the 1000pip week...... :lol:
cmeade2 wrote:So you would not have taken the trade at the first hit of the WP. As you say, you are looking for it on the way down. Right?
Gertje wrote:
cmeade2 wrote:You mean only if you enter an order to sell at the WP?
Gertje wrote:
cmeade2 wrote:Short GbpCad at the WP?
Only as a stop-order, not as a limit- or market- order.
Learned that the hard-way..... :?
Only if price moves way above, so I can enter a pending to fill on the way down.

I have been to 'triggerhappy' in the past, and was affraid to miss the entry so made a market- or limit order to make sure I was part of the move. Several times the price kept running against me, or went nowhere.
Author:  Gertje [ Thu Mar 14, 2013 2:25 pm ]
Post subject:  Re: 10.4 A Complete System
Nipponho wrote:Gertje, i am still scratching my head (since yesterday) :roll: no good...... opens are all red. EG hit SL. :cry:
I have had the TP on Tuesday for 1 level with EURGBP, set pendings from WP to R1 but no more entry's yet.

RSI is down, so move is about to come...........or maybe not.
Author:  Gertje [ Thu Mar 14, 2013 2:26 pm ]
Post subject:  Re: 10.4 A Complete System
831.1 pips / 10.54% this week till now.

Floating BE at the moment with 16 pairs running open orders from 1-3 levels.
cmeade2 wrote:Are you close?
Gertje wrote:
Hey, I want to beat Bob for the 1000pip week...... :lol:
cmeade2 wrote:So you would not have taken the trade at the first hit of the WP. As you say, you are looking for it on the way down. Right?
Gertje wrote:
cmeade2 wrote:You mean only if you enter an order to sell at the WP?
Gertje wrote:
cmeade2 wrote:Short GbpCad at the WP?
Only as a stop-order, not as a limit- or market- order.
Learned that the hard-way..... :?
Only if price moves way above, so I can enter a pending to fill on the way down.

I have been to 'triggerhappy' in the past, and was affraid to miss the entry so made a market- or limit order to make sure I was part of the move. Several times the price kept running against me, or went nowhere.
Author:  cmeade2 [ Thu Mar 14, 2013 2:27 pm ]
Post subject:  Re: 10.4 A Complete System
Congrats!!
Gertje wrote:831.1 pips / 10.54% this week till now.

Floating BE at the moment with 16 pairs running open orders from 1-3 levels.
cmeade2 wrote:Are you close?
Gertje wrote:
Hey, I want to beat Bob for the 1000pip week...... :lol:
cmeade2 wrote:So you would not have taken the trade at the first hit of the WP. As you say, you are looking for it on the way down. Right?
Gertje wrote:
cmeade2 wrote:You mean only if you enter an order to sell at the WP?
Gertje wrote:
cmeade2 wrote:Short GbpCad at the WP?
Only as a stop-order, not as a limit- or market- order.
Learned that the hard-way..... :?
Only if price moves way above, so I can enter a pending to fill on the way down.

I have been to 'triggerhappy' in the past, and was affraid to miss the entry so made a market- or limit order to make sure I was part of the move. Several times the price kept running against me, or went nowhere.
Author:  Wiggy1965 [ Thu Mar 14, 2013 2:36 pm ]
Post subject:  Re: 10.4 A Complete System
cmeade2 wrote:Short GbpCad at the WP?
That trade does no make sense and I'm pretty sure it's not a 10.4 trade...

The signal was yesterday and when you get the signal, you look for entries below, in the case of a short and above in the case of a long.....the pending should have been at the mid pivot or below around the .5295 level...

Wiggy
Author:  cmeade2 [ Thu Mar 14, 2013 2:41 pm ]
Post subject:  Re: 10.4 A Complete System
I agree that it is not by the "rules" since the RSI(2) is not flat. But it is quite high and I noted from Bob's trades last week that he entered situations like this.
Wiggy1965 wrote:
cmeade2 wrote:Short GbpCad at the WP?
That trade does no make sense and I'm pretty sure it's not a 10.4 trade...

The signal was yesterday and when you get the signal, you look for entries below, in the case of a short and above in the case of a long.....the pending should have been at the mid pivot or below around the .5295 level...

Wiggy
Author:  cmeade2 [ Thu Mar 14, 2013 2:42 pm ]
Post subject:  Re: 10.4 A Complete System
On the other hand, GbpNzd at the WR1 looks like a "by the rules" short
Author:  padnoter [ Thu Mar 14, 2013 2:48 pm ]
Post subject:  Re: 10.4 A Complete System
Wiggy1965 wrote:
cmeade2 wrote:Short GbpCad at the WP?
That trade does no make sense and I'm pretty sure it's not a 10.4 trade...

The signal was yesterday and when you get the signal, you look for entries below, in the case of a short and above in the case of a long.....the pending should have been at the mid pivot or below around the .5295 level...

Wiggy
but if the current bar closes above WP, it's then a valid 10.4 trade to place an order @ just below WP isn't it?
Author:  Gertje [ Thu Mar 14, 2013 2:50 pm ]
Post subject:  Re: 10.4 A Complete System
Just the WP-cross back into trend would do it for me.
cmeade2 wrote:I agree that it is not by the "rules" since the RSI(2) is not flat. But it is quite high and I noted from Bob's trades last week that he entered situations like this.
Wiggy1965 wrote:
cmeade2 wrote:Short GbpCad at the WP?
That trade does no make sense and I'm pretty sure it's not a 10.4 trade...

The signal was yesterday and when you get the signal, you look for entries below, in the case of a short and above in the case of a long.....the pending should have been at the mid pivot or below around the .5295 level...

Wiggy
All times are UTC Page 185 of 745

Powered by phpBB® Forum Software © phpBB Limited