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| 10.4 A Complete System https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481 |
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| Author: | fx800 [ Fri Mar 22, 2013 7:50 pm ] |
| Post subject: | Re: 10.4 A Complete System |
You are looking for a script, so where do you look ? In the SCRIPTS SECTION of course ! http://www.stevehopwoodforex.com/phpBB3 ... =48&t=1400 |
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| Author: | Foreverforex [ Fri Mar 22, 2013 8:17 pm ] |
| Post subject: | Re: 10.4 A Complete System |
Dunce cap is on - thank you! |
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| Author: | Guest [ Fri Mar 22, 2013 8:54 pm ] |
| Post subject: | Re: 10.4 A Complete System |
where's bob's template ? if you had been using 10.4 or 10.5 you would not have got in at that point |
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| Author: | rebyte2 [ Fri Mar 22, 2013 9:23 pm ] |
| Post subject: | Re: 10.4 A Complete System |
You are Correct. 10.4 is a fantastic strategy in its original form but i have put my own slight twist to it. No one strategy is 100% fits all. The car is a common product. But some people like Toyota, Ford, GM ... etc. Anyhow, I still use 10.4's idea of looking for pullbacks to re-enter. I have removed 2 pendings as RSI 2 had not moved in to OB territory. Now its in OB, I have allowed the WMSP to trigger. Yes its agressive but i feel comfortable with it. There is another pending at the WP. Will this trade(and pending) be left open over the weekend? Yes. That CT trade from the swing point low i mentioned earlier has paid for this trade, so i have it covered. The Cypress stuff is only a blimp on the radar, compared to the bigger trend direction. Hope this helps. Cheers... Roscoe |
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| Author: | nanningbob [ Sat Mar 23, 2013 2:31 am ] |
| Post subject: | Re: 10.4 A Complete System |
Yesterday didnt go quite as expected but when does it I guess. I was 11-4 for 186 pips. Most of the trades went into DD with the rumor that Cypress problem was solved and then it went back into negotiations, so with what ever happens there will cause some nice Monday gaps. My DD is under 9% so I am not concerned. SL will hit to prevent it from going out of control so that wont be a concern. If SL arent hit Monday like this last Monday then I willbe sitting in great position. Last Monday I started almost 3% down from the gaps but ended the week 72-38 with over 7% increase in my account. I wont 2160 pips and lost 1406 for a grand total of +754 pips for the week. If some of you think my trading is crazy it is only because when I smell that 1000 pip mark I go for it and throw caution to the wind. Take away that stupid Cypress rumor and I believe I would have made it. Again I remind people indicators cant read or know future news so I keep getting these posts, emails, PMs, etc. of adding more and more indis. I already know adding more and more indis wont work. I will stick with what I have. For the month my account is up over 17% and since my goal is to do 10% a month I am more than pleased. DD is lower than any other of my systems except 10.3 but the DD there would be caused by a series of losses instead of a live DD. |
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| Author: | nanningbob [ Sat Mar 23, 2013 2:46 am ] |
| Post subject: | Re: 10.4 A Complete System |
I like hearing guys talk about how they adapt a strategy to fit what they know. I could take 10.4 and adapt it to my old Sto/Mac indi, You could adapt it to MACD, CCI, Bollinger bands, whatever. Etc. etc. Take what you know and use, that which you are comfortable with, add that 240 line 4H or 960 line on the one hour or 40 line on the daily and you got 10.4 basics. Anyway good luck. |
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| Author: | nanningbob [ Sat Mar 23, 2013 2:57 am ] |
| Post subject: | Re: 10.4 A Complete System |
I wouldnt worry too much. If I understand this correctly, Cypress banks have been taking large deposits from the Russians and others, They then loan the money out to the Greeks, Italians and the Spaniards. The Euro banks (think Germany and France) then need to bail out Cypress because they already bailed out the others and they have already paid money to the Greeks who need to pay back Cypress but they cant so the Euro banks (think Germany and France) need to pay Cypress money because the money they gave to the Greeks hasnt been going to Cypress to pay off their loans. So now the Euro Banks are paying twice for the same debt, because if they dont the Russians will show up with lead pipes to break some legs. So to solve the problem, Cypress needs to take the Russian deposits to cover the Greek loans so the Euro banks can loan more money to Cypress to cover their bank deposits so the Russians wont come and break legs. The Russians turned down offering loans to Cypress because they saw no need to loan money to protect their deposits. Hmmmmmmmmmmm Did I get this right?? |
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| Author: | nanningbob [ Sat Mar 23, 2013 3:11 am ] |
| Post subject: | Re: 10.4 A Complete System |
10.3 and 10.2 are successful systems, I made money with them but I am not making as much as I am with 10.4. I usually made between 5-10% a month and I was not happy with that. I would make some and then SL would cut it back down. I did notice thought that trades I was taking SL would later become profitable so I looked for a better way to read the trend. That lead to 10.4. So I am up 17% this month with a week left. Again my problem with 10.3 is not the system, my schedule does not allow me to trade hourly charts. I miss too many trades entrance and exits. 4H fit perfectly with my schedule so 10.4 is where I will stay. But you are right 10.3, 10.2, 10.2A will work. I had meant to add MWD to 10.4 but I havent the time to adapt it yet. Probably wont now because CSS will take its place and I get my quick reads off of it. |
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| Author: | VirtualFM [ Sat Mar 23, 2013 3:31 am ] |
| Post subject: | Re: 10.4 A Complete System |
I managed through the "Oil" situation, even if it's still not solved. There are a ton of open orders and an huge DD of around 30%. However, unless all the Monday gaps (actually, Sunday night gaps in my case) happen in the wrong direction and hit huge SL, I don't even mind loosing all of that, because even so, the week will still be profitable! But I think the losing trades will be returning for the good side for most of them (greedy buys on AUDCHF, AUDJPY, AUDNZD, same on EURAUD, EURCAD and EURCHF in sells when RSI was still not completely flat, for example). Have to keep thinking positive, or the weekend will be hell  PS: As for indicators, I already have used the CSS on 10.2 but I was trying to use it for finding the "crossing" of the pairs, but now it's being really useful. I added it to the bottom of every chart, showing only the symbol on chart and locking TF to D1. Like that I can see at a glance the relative strength of each pair easily without having to switch to the "Info Page", which is usually somewhere out-of-reach and involves distracting window-swaping. |
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| Author: | nanningbob [ Sat Mar 23, 2013 3:41 am ] |
| Post subject: | Re: 10.4 A Complete System |
You are taking trades and you are not sure where to put SL and TP. Egads. OK ummmmmmmmmm As I write this eur/cad now is a 10.4 trades. So your good there. I put my SL at the 240 line and TP near WS1. On the 10.5 screen signal you could have put a pending on DMS1 and it would not have taken. If you did the DP it would have taken and you could have gotten 15-20 pips. Price then reversed and would be 65 pips in the hole. My biggest rule in trading is to never let a profitable trade become a loser. You had a small profit and when you trade lower TF you protect your profit by moving a SL up. I you didnt take WP trade then you are not in. 10.5 is a scalping system so you use tight SL and move your SL up quickly to protect profits. I will sometimes use 10.5 lines in my 10.4 trading setups but they then are treated as 10.4 trades. Crossing a DP is almost as powerful as crossing a WP pivot but not the same. If I use the 10.5 lines for 10.4 trades I use the same rules as 10.4. If I am scalping for small profits then that is a different ballgame. |
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