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10.2a Oct. 2012 Edition
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=861		 Page 22 of 34
Author:  wBear [ Fri Oct 12, 2012 10:21 am ]
Post subject:  Re: 10.2a Oct. 2012 Edition
krisko1989 wrote: wBear,
- I see you started reading something that I decided to leave in the background as I thought that it would just complicate things for me further. Anyway your last post encouraged me to take a peek at it. Thanks.

Second, I had the same GBPCHF trade as you did - made some 45-46 pips ;)

Anyway I wish you all a great day of trading !

Kris
Great!! It's really worthwhile to have a look. I'm going to quote an example of how I used 10.2a CTS (& what coolncalm wrote about "ping pong effect") to save my failing basket, which happened just a few moments ago.

1. Sell position #1 -- Failed trade earlier taken (by "EA-not-to-be-named").
2. Sell position #2 -- Manual recovery didn't work.
3. Sell position #3 -- 10.2a CTS trade (by taking risk to trade semaphores), MPTM Global Closure successfully closed off entire basket with a little profit, priority was to close off entire basket.

I'm speechless. Really.

- Will I ever do this again?
No, it's not the main 10.2a CTS rules to begin with. It's a risk I took with a guided aid & probability it'll succeed in saving a failing basket. I'm calling it a "10.2a CTS trade" simply because I was guided by it. Plus, a trailing stop was attached and if the 3rd trade failed, it's still a profit. In fact, when following 10.2a CTS rules, it would have been a Buy rather than a Sell in order to save the basket.

Last but not least, though this was in demo, I treat it as real. Starting from next week, I'd be manually trading 10.2a CTS live.

By the way: "Tough times don't last, tough guys do". Don't give up. The light may be near ;)

Edit: I'd better not clutter Bob's thread with 10.2a CTS stuff :lol:
Author:  nanningbob [ Fri Oct 12, 2012 10:45 am ]
Post subject:  Re: 10.2a Oct. 2012 Edition
Example of a two level trade to break even. You can do this all day long in ranging markets to make small profits or break evens so you are not taking losses. First trade early in week looking to break WP and DP. Trade went nowhere and retraced. Took a 2nd trade 3 days later crossing the DP and it moved to where both trades broke even. 1 win 1 lose but no lose of money. I then can reenter with break WR1 and start the process all over again and see if I can make a profit. I will do this all the time in ranging markets.
Author:  nanningbob [ Fri Oct 12, 2012 10:49 am ]
Post subject:  Re: 10.2a Oct. 2012 Edition
Now I reenter with my L1 trade and play to WP. When there I will take 1/2 profit move SL into a profit positions. Then I will enter 2nd level just below WP and see if I can compound my trade. I will save my third entrance for a break of the previous low from over a week ago and then have my 3 positions running. That is the plan.
Author:  nanningbob [ Fri Oct 12, 2012 10:50 am ]
Post subject:  Re: 10.2a Oct. 2012 Edition
wBear wrote:
krisko1989 wrote: wBear,
- I see you started reading something that I decided to leave in the background as I thought that it would just complicate things for me further. Anyway your last post encouraged me to take a peek at it. Thanks.

Second, I had the same GBPCHF trade as you did - made some 45-46 pips ;)

Anyway I wish you all a great day of trading !

Kris
Great!! It's really worthwhile to have a look. I'm going to quote an example of how I used 10.2a CTS (& what coolncalm wrote about "ping pong effect") to save my failing basket, which happened just a few moments ago.

1. Sell position #1 -- Failed trade earlier taken (by "EA-not-to-be-named").
2. Sell position #2 -- Manual recovery didn't work.
3. Sell position #3 -- 10.2a CTS trade (by taking risk to trade semaphores), MPTM Global Closure successfully closed off entire basket with a little profit, priority was to close off entire basket.

I'm speechless. Really.

- Will I ever do this again?
No, it's not the main 10.2a CTS rules to begin with. It's a risk I took with a guided aid & probability it'll succeed in saving a failing basket. I'm calling it a "10.2a CTS trade" simply because I was guided by it. Plus, a trailing stop was attached and if the 3rd trade failed, it's still a profit. In fact, when following 10.2a CTS rules, it would have been a Buy rather than a Sell in order to save the basket.

Last but not least, though this was in demo, I treat it as real. Starting from next week, I'd be manually trading 10.2a CTS live.

By the way: "Tough times don't last, tough guys do". Don't give up. The light may be near ;)

Edit: I'd better not clutter Bob's thread with 10.2a CTS stuff :lol:
My system was designed simply so add ons could be done. Thanks for the update.
Author:  nanningbob [ Fri Oct 12, 2012 11:29 am ]
Post subject:  Re: 10.2a Oct. 2012 Edition
OK you little AUD pairs, this is how it works. When you see that little black line on the screen called the WP line. You want to jump over that line ................ now some real positive feed back. Jump guys, jump, just a little bit mooooooooorrrrrrrrrrrreeeeeeeeeeee............................... 8-)
Author:  wBear [ Fri Oct 12, 2012 2:39 pm ]
Post subject:  Re: 10.2a Oct. 2012 Edition
nanningbob wrote:OK you little AUD pairs, this is how it works. When you see that little black line on the screen called the WP line. You want to jump over that line ................ now some real positive feed back. Jump guys, jump, just a little bit mooooooooorrrrrrrrrrrreeeeeeeeeeee............................... 8-)
AUDUSD crossed. LOL!!!
Author:  nanningbob [ Fri Oct 12, 2012 3:30 pm ]
Post subject:  Re: 10.2a Oct. 2012 Edition
Well several crossed the line, will set TP at 50 and see what happens. Wow 16 trades this week. That is really slow for me, really slow
Author:  fondofallthings [ Fri Oct 12, 2012 5:39 pm ]
Post subject:  Re: 10.2a Oct. 2012 Edition
Hi Bob,

I know this is a long way into the thread. I have been trading quite happily using the system. I must admit that I did revisit the first post today for the first time in a long time. I don't know if it is just me but the first part does not seem that clear for some reason to me on rereading.

I assumed you mean Red above Black above Green, and then wait for candle to close below Daily and sell, opposite for buy.

That is what I have been doing, but now I am not sure. Also many charts posted have slightly different entries, so i just wanted to make sure I understand what the original idea was.
Author:  nanningbob [ Sat Oct 13, 2012 11:32 pm ]
Post subject:  Re: 10.2a Oct. 2012 Edition
fondofallthings wrote:Hi Bob,

I know this is a long way into the thread. I have been trading quite happily using the system. I must admit that I did revisit the first post today for the first time in a long time. I don't know if it is just me but the first part does not seem that clear for some reason to me on rereading.

I assumed you mean Red above Black above Green, and then wait for candle to close below Daily and sell, opposite for buy.

That is what I have been doing, but now I am not sure. Also many charts posted have slightly different entries, so i just wanted to make sure I understand what the original idea was.
10.2a is a trend following system. If there is no trend then you have to adjust to the ranging market. You will also notice that if I know a strong fundamental is at play I will play the fundamentals. AUD has two strong fundamentals at play right now. The Chinese economy has slowed down affecting its exports and the bank has cut its interest rate which also affects the currency. The NZD economy is coupled to the AUD economy therefore you will be seeing me sell these pairs over and over again upon the retraces. A counter fundamental acting on these pairs is the uncertainty of Europe so the AUD and NZD are being bought as a safe haven. This battle is causing the AUD and NZD to kind of hang in there but it is one I think they will lose. In other words I do not expect them to go any higher than their present highs make sell trades very safe right now. Probably 50% of my trades are coming from these two currencies. Last fall I rode the euro drop. Strong Fundamentals over ride any indicator system. When one is out there you just keep playing it until it changes.
Author:  fondofallthings [ Sun Oct 14, 2012 7:08 am ]
Post subject:  Re: 10.2a Oct. 2012 Edition
Thanks Bob.

I have decided to just trade two pairs using larger lots and that is the AUD/NZD and EUR/GPB. I want to understand these pairs and use your system to work within them. Where I live (Thailand) if I can make 50 pips a week, I would be more than happy with that to supplement my teaching salary, so that will be my goal of these pairs.

I really think settling on two pairs will help me in the long run as a trader.I can add another pair in the future when I feel I have developed some mastery over my chosen pairs.

Thanks for all your help here.
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