stevehopwoodforex.com • 10.2a Oct. 2012 Edition

Author:

gustav213 [ Mon Oct 15, 2012 8:45 pm ]

Post subject:

Re: 10.2a Oct. 2012 Edition

GT3RS wrote:
gustav213 wrote:
10-15-2012 5-00-39 AM.png
All my trades have hit except the EURAUD buy

The EURJPY already closed out for 47 pips, I was gonna let it run but don't have too much faith on it running higher and my break even got it. Right now I am using the same account for my Shelly Now and 10.2a since I am mixing them both together with the basket idea. But for a Monday I am up 150 pips already which sounds good to me.

I am always amazed by Jems high pips but if I can do little risk and bring in 100 to 200 pips a weekend I am more than happy.
I'd really like it if someone could explain how these basket trades work. From what I can see, you have risked 336 pips for a current profit of 106 pips which doesn't strike me as being particularly great.

I've been booted off forums before now, for explaining this simple truth.........

"Pips are vanity, % return is sanity."

Anyone quoting how many pips they made, has a lot to learn in this business. I don't want to rant, and I certainly don't want to detract from what Bob is doing here, so will give a simple example.

Trader A makes 400 pips in a month from one single trade.

Trader B makes 50 pips in that same month from one single trade.

They both have a $1,000 account.

Who makes the biggest RETURN [cos, forgive me, isn't that what it's actually about!!??]?

Trader B of course. He had a 5 pip SL and risked 1% of the account [$10]. His return was 10 x his risk, so he gained $100 or %10.

Trader A had a 400 pip SL and risked 1% of the account. His return was the same as his risk, so he only made $10 or %1. HIS RETURN WAS TEN TIMES LESS THAN SOMEONE WHO MADE 350 PIPS LESS THAN HIM!!!

"Pips are vanity, % return is sanity."

If you must quote pips made, at least quote how many were RISKED, in order to give it some perspective.

Waiting for Steve to get the hump with me now!!

First of all you should really read up on previous posts and understand what is going on. I didn't close my basket at 106 pips, and most baskets I let go for more than a 100 pips. What I was trying to say was that as I am in I did set some break even points, since I wasn't really seeing a stronger push past some key levels. While I would love to rack in 1000 pips a trade at the end of the day if I don't feel comfortable with the trade going higher I will close out.

The only time I run basket trades is when I am sleeping in case my trades go into large profit it will close them all out for me. At the end of the day I rather gain a few pips than wake up with a negative equity.

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Author:	nanningbob [ Mon Oct 15, 2012 1:20 pm ]
Post subject:	Re: 10.2a Oct. 2012 Edition
ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ

Author:	cmeade2 [ Mon Oct 15, 2012 1:35 pm ]
Post subject:	Re: 10.2a Oct. 2012 Edition
nanningbob wrote:ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ It is amazing.

Author:	cmeade2 [ Mon Oct 15, 2012 3:44 pm ]
Post subject:	Re: 10.2a Oct. 2012 Edition
OK after lots of snoozing, as Bob noted, the Eur/Usd is trying to cross back over the DP in a nice 10.2a setup. However, this is the second time. The first one failed. Should we jump in?

Author:	gustav213 [ Mon Oct 15, 2012 5:45 pm ]
Post subject:	Re: 10.2a Oct. 2012 Edition
Jemook wrote: gustav213 wrote:I am always amazed by Jems high pips but if I can do little risk and bring in 100 to 200 pips a weekend I am more than happy. I think a high pip haul is just something cool to show around. It's more important to judge a system / trader based on his/her consistent and steady account increases. The reason I show off large pip hauls is to show that we are on the right track to a very profitable system – the large pip hauls have been consistent since I started trading the basket strategy. I didn't mean anything by offense, I have pulled in some large basket hauls in on this system too. The way I am looking at my system is locking in the pips I want first, then if everything still seems appropriate for the pair to keep going i will re enter.

Author:	GT3RS [ Mon Oct 15, 2012 8:09 pm ]
Post subject:	Re: 10.2a Oct. 2012 Edition
gustav213 wrote: 10-15-2012 5-00-39 AM.png All my trades have hit except the EURAUD buy The EURJPY already closed out for 47 pips, I was gonna let it run but don't have too much faith on it running higher and my break even got it. Right now I am using the same account for my Shelly Now and 10.2a since I am mixing them both together with the basket idea. But for a Monday I am up 150 pips already which sounds good to me. I am always amazed by Jems high pips but if I can do little risk and bring in 100 to 200 pips a weekend I am more than happy. I'd really like it if someone could explain how these basket trades work. From what I can see, you have risked 336 pips for a current profit of 106 pips which doesn't strike me as being particularly great. I've been booted off forums before now, for explaining this simple truth......... "Pips are vanity, % return is sanity." Anyone quoting how many pips they made, has a lot to learn in this business. I don't want to rant, and I certainly don't want to detract from what Bob is doing here, so will give a simple example. Trader A makes 400 pips in a month from one single trade. Trader B makes 50 pips in that same month from one single trade. They both have a $1,000 account. Who makes the biggest RETURN [cos, forgive me, isn't that what it's actually about!!??]? Trader B of course. He had a 5 pip SL and risked 1% of the account [$10]. His return was 10 x his risk, so he gained $100 or %10. Trader A had a 400 pip SL and risked 1% of the account. His return was the same as his risk, so he only made $10 or %1. HIS RETURN WAS TEN TIMES LESS THAN SOMEONE WHO MADE 350 PIPS LESS THAN HIM!!! "Pips are vanity, % return is sanity." If you must quote pips made, at least quote how many were RISKED, in order to give it some perspective. Waiting for Steve to get the hump with me now!!

Author:	cmeade2 [ Mon Oct 15, 2012 8:31 pm ]
Post subject:	Re: 10.2a Oct. 2012 Edition
GT3RS wrote: gustav213 wrote: 10-15-2012 5-00-39 AM.png All my trades have hit except the EURAUD buy . I'd really like it if someone could explain how these basket trades work. From what I can see, you have risked 336 pips for a current profit of 106 pips which doesn't strike me as being particularly great. : If you read the various forums here, you will see there are a number of approaches, that range from "pure" Bob 10.2 and and 10.2a plus a number of other approaches. The fact is that right now, the markets really suck and most of the pairs are totally ranging. And so if Gustav can pull it off, it is a very good play. And many of us can remember earlier days, last spring, when every basket was a total blow out.

Author:	nanningbob [ Mon Oct 15, 2012 10:45 pm ]
Post subject:	Re: 10.2a Oct. 2012 Edition
GT3RS wrote: gustav213 wrote: 10-15-2012 5-00-39 AM.png All my trades have hit except the EURAUD buy The EURJPY already closed out for 47 pips, I was gonna let it run but don't have too much faith on it running higher and my break even got it. Right now I am using the same account for my Shelly Now and 10.2a since I am mixing them both together with the basket idea. But for a Monday I am up 150 pips already which sounds good to me. I am always amazed by Jems high pips but if I can do little risk and bring in 100 to 200 pips a weekend I am more than happy. I'd really like it if someone could explain how these basket trades work. From what I can see, you have risked 336 pips for a current profit of 106 pips which doesn't strike me as being particularly great. I've been booted off forums before now, for explaining this simple truth......... "Pips are vanity, % return is sanity." Anyone quoting how many pips they made, has a lot to learn in this business. I don't want to rant, and I certainly don't want to detract from what Bob is doing here, so will give a simple example. Trader A makes 400 pips in a month from one single trade. Trader B makes 50 pips in that same month from one single trade. They both have a $1,000 account. Who makes the biggest RETURN [cos, forgive me, isn't that what it's actually about!!??]? Trader B of course. He had a 5 pip SL and risked 1% of the account [$10]. His return was 10 x his risk, so he gained $100 or %10. Trader A had a 400 pip SL and risked 1% of the account. His return was the same as his risk, so he only made $10 or %1. HIS RETURN WAS TEN TIMES LESS THAN SOMEONE WHO MADE 350 PIPS LESS THAN HIM!!! "Pips are vanity, % return is sanity." If you must quote pips made, at least quote how many were RISKED, in order to give it some perspective. Waiting for Steve to get the hump with me now!! What you are saying is basically true however it takes pips to make a percentage of return. Both are ways of expressing a return of investment. I have had this debate with people before but the bottom line is are you making money? It is easier to explain an individual trade by pips and overall success by percent of increase of an account. So I find both viable depending on how you are expressing the success you are having.

Author:	The_Snowman [ Mon Oct 15, 2012 11:44 pm ]
Post subject:	Re: 10.2a Oct. 2012 Edition
cmeade2 wrote:OK after lots of snoozing, as Bob noted, the Eur/Usd is trying to cross back over the DP in a nice 10.2a setup. However, this is the second time. The first one failed. Should we jump in? By all means, the water is fine....

Author:	cmeade2 [ Mon Oct 15, 2012 11:50 pm ]
Post subject:	Re: 10.2a Oct. 2012 Edition
The_Snowman wrote: cmeade2 wrote:OK after lots of snoozing, as Bob noted, the Eur/Usd is trying to cross back over the DP in a nice 10.2a setup. However, this is the second time. The first one failed. Should we jump in? By all means, the water is fine.... Hey Snowman Nice basket. What are your entry criteria?

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