stevehopwoodforex.com • 10.4 A Complete System

Author:

cmeade2 [ Thu Mar 14, 2013 4:25 pm ]

Post subject:

Re: 10.4 A Complete System

Wiggy

Don't worry about it. Believe it or not, but I am doing my best to learn the "rules" of this system, even though I have my own views, as you know.

I am totally motivated by the fact that so many people seemed to make huge pips this week following the rules.

For me the GbpCad was a big fake out this morning. Indeed, there was a by the rules trade a while ago as the RSI(2) was flat and it was hugging the MS1. But as you know, I like to see the RSI(2) start to move before making a trade. And this morning it started to come down and the price crossed the MA 5/1. Seemed like a great time to get in. But I didn't, luckily, as it totally reversed.

With that background, my question about the short at the WP was really just a random inquiry, probing the issues of rules for 10.4

Thanks for your response and patience.

cmeade2

Wiggy1965 wrote:
cmeade2 wrote:
Wiggy1965 wrote:
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
I'm not sure why we are having this conversation, with all the trades available, i don't understand why you are trying to look for marginal trades....

Wiggy
In your view, what are the available trades now?
Well,

CHFJPY - you could have a pending above Weekly Mid Res pivot, just above the previous high candles 101.500 targeting Weekly Res1...That could trigger in the next couple of hours...SL, below Weekly Pivot

Just on a side note....I don't understand why we are discussing a pair that first presented a sell signal over 30 hours ago....If you were interested and checking you charts daily you would have seen the setup and place you pending below the Weekly Mid Support Pivot and just waited for the trade to come....The trade has not eventuated as yet, but the is the purpose of the 10.4 rules, keep you out of trades you don,t want and let price come to the trade you do want....

Wiggy

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

10.4 A Complete System https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481	Page 187 of 745

Author:	jmdias [ Thu Mar 14, 2013 3:47 pm ]
Post subject:	Re: 10.4 A Complete System
Gertje wrote:GBPCAD is ranging between 1.8 and 1.84 for 4 weeks now, bounced off the 240ma already 5 weeks ago, chances are it's going down again soon. - RSI is flattish [99.something], flat the next candle - AO is above 0 - WP is about to get crossed 3 out of 4 10.4 rules are fullfilled, what more does one want? Hi Gertje i think u mean GBPNZD..not GBPCAD

Author:	sk29 [ Thu Mar 14, 2013 3:49 pm ]
Post subject:	Re: 10.4 A Complete System
Agreed. Just focusing on pips for now. Once I grow more confident in my abilities to repeat these green pips for at least 1 month, I will start increasing lot sizes. Gertje wrote: sk29 wrote: Capture2.JPG Have a bit of a DD, but overall lots of pips... now up to 975 pips profit looking good so far... --SK-- I think you're to carefull with lotsize.

Author:	Wiggy1965 [ Thu Mar 14, 2013 3:50 pm ]
Post subject:	Re: 10.4 A Complete System
jmdias wrote: Gertje wrote:GBPCAD is ranging between 1.8 and 1.84 for 4 weeks now, bounced off the 240ma already 5 weeks ago, chances are it's going down again soon. - RSI is flattish [99.something], flat the next candle - AO is above 0 - WP is about to get crossed 3 out of 4 10.4 rules are fullfilled, what more does one want? Hi Gertje i think u mean GBPNZD..not GBPCAD Here i am staring at the GBPCAD chart thinking this guys is tripping... Gertje, do you mean the GBPNZD, correct you post if you do...! Wiggy

Author:	cmeade2 [ Thu Mar 14, 2013 3:54 pm ]
Post subject:	Re: 10.4 A Complete System
Wiggy1965 wrote: 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 I'm not sure why we are having this conversation, with all the trades available, i don't understand why you are trying to look for marginal trades.... Wiggy In your view, what are the available trades now?

Author:	Wiggy1965 [ Thu Mar 14, 2013 4:15 pm ]
Post subject:	Re: 10.4 A Complete System
cmeade2 wrote: Wiggy1965 wrote: 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 I'm not sure why we are having this conversation, with all the trades available, i don't understand why you are trying to look for marginal trades.... Wiggy In your view, what are the available trades now? Well, CHFJPY - you could have a pending above Weekly Mid Res pivot, just above the previous high candles 101.500 targeting Weekly Res1...That could trigger in the next couple of hours...SL, below Weekly Pivot Just on a side note....I don't understand why we are discussing a pair that first presented a sell signal over 30 hours ago....If you were interested and checking you charts daily you would have seen the setup and place you pending below the Weekly Mid Support Pivot and just waited for the trade to come....The trade has not eventuated as yet, but the is the purpose of the 10.4 rules, keep you out of trades you don,t want and let price come to the trade you do want.... Wiggy

Author:	Wiggy1965 [ Thu Mar 14, 2013 4:17 pm ]
Post subject:	Re: 10.4 A Complete System
cmeade2 wrote: Wiggy1965 wrote: 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 I'm not sure why we are having this conversation, with all the trades available, i don't understand why you are trying to look for marginal trades.... Wiggy In your view, what are the available trades now? Further.... Dont be in a hurry, find the trade, set the pendings ahead of price, and let price come to you Regards Wiggy

Author:	padnoter [ Thu Mar 14, 2013 4:22 pm ]
Post subject:	Re: 10.4 A Complete System
Hi Wiggy, Now the next 4h bar has started, do you agree you can add a further pending short on gbpcad just under the WP ? Am sure I read that in the 10.4 pdf... but interested in yours & others thoughts?

Author:	Wiggy1965 [ Thu Mar 14, 2013 4:40 pm ]
Post subject:	Re: 10.4 A Complete System
padnoter wrote:Hi Wiggy, Now the next 4h bar has started, do you agree you can add a further pending short on gbpcad just under the WP ? Am sure I read that in the 10.4 pdf... but interested in yours & others thoughts? Padnoter, Your comment about the fresh bar made me think, as i still have 33 minutes left on my current 4h bar...my main broker is AXI and they are GMT +2 So i went to my other broker, who is GFT and they are GMT and i have 3.5 hour remaining on the new bar....The other interesting thing is the RSI on my GFT account is flat on the 100 line and has been for over two days....So, i have had a valid sell signal for two days, where my AXI account, the signal is no longer there... So, if i was trading based on the signals provided by my GFT account, i would have place my frist pending as i described earlier below the Weekly Mid Support two days ago....Now that price has continued higher above the Weekly pivot i could be tempted to place a pending below the weekly pivot.... The question i have for you is this.....If we believe price is going to go short, then what is the hurry...? A day or two, price will hit out entry at the Mid Pivot and off we go....we have asked price to prove us right..... Now on the other hand, if we keep adding pending orders below price goes up, we increase the chase of begin peeked into a trade we don't want....Sure, we maybe passing up pips, but at least we are entering trades under our conditions and not creating a condition that we don't want... Wiggy

Author:	padnoter [ Thu Mar 14, 2013 4:56 pm ]
Post subject:	Re: 10.4 A Complete System
Hi Wiggy, Yep I can see what you are saying, and if the prev bar closed v. near the WP I'd agree - but it closed a fair way above, so adding another pending trade below WP is pretty safe I'd say (imho). Plus "crossing the WP back into the trend" is a Bob best case scenario (#3) I checked Bob's manual, and he does give examples of adding orders like this (see page 15 - e/j #1). Tho' as I typed this.. I have to LOL... gbpcad almost came back down to peeker in. Similar for GBPUSD

All times are UTC	Page 187 of 745
Powered by phpBB® Forum Software © phpBB Limited