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10.4 A Complete System
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481		 Page 232 of 745
Author:  websie [ Sat Mar 23, 2013 10:38 am ]
Post subject:  Re: 10.4 A Complete System
nanningbob wrote:
cjthomson wrote:Bob,



TJ has one of the simplest methods to trade PIN bars, forget all the rest. He has gotten dozens of guys going fox hunting. I love it. Wish I knew that when I CT traded all the time. It is true that most professional traders use one or two indis and that is it. Something that makes an angle and something that makes a horizontal line. In a nutshell that is my system. 240 is my angle line P/S/R are my horizontal lines. I go trade off the dips/rallies. The RSI 2 helps me filter. I then go trade.
Who is TJ?
Author:  nanningbob [ Sat Mar 23, 2013 11:00 am ]
Post subject:  Re: 10.4 A Complete System
rebyte2 wrote:GBPUSD looks to have finished its downtrend. The inverse H&S pattern confirms this.

Closing over the 240 line makes me feel only longs from this point forward, when 10.4 conditions are met.
The news on the GBP is it might be down graded again for its credit rating which may send it down again. So we watch the 240 line and hopefully get the jump on direction. If it goes south again we will be the first to know.
Author:  McNish [ Sat Mar 23, 2013 2:57 pm ]
Post subject:  Re: 10.4 A Complete System
nanningbob wrote: Cypress takes from the Russians, loan to Greeks, Italians and the Spaniards. Euro (Germany and France) bail Cypress as bailed out others, already paid Greeks who to pay Cypress but don't, so Euro (Germany and France) pay Cypress, cuz what they gave Greece, no go to Cypress loans. So Euro pay twice same debt, cuz if no, Russians show up, break legs.

So, Cypress take Russian deposits, cover Greek loans so Euro loan more to Cypress to cover deposits so Russians no come, break legs. Russians don't loans to Cypress,
What we have here, Russian Roulette or Snatch. :)

Hello TGB, watching 10.4 and 10.5 with attention. Couple doubts and suggestions.
SL's. At 240 coz of the trend. Also observed that 10.4 have minimal stuff as you mentioned most big games have too. 240 - Trend, RSI - Pullback in trend, Pivots - Trading Trend Pullbacks. As I also learn couple more things, 50*6 = 300*1 but better as faster game, and more probability. So I go Long @

1. WMS1 - TP two levels i.e WMR1, SL Two levels - WMS2, lot 1.
2. WP - Same, TP two lvl, sl 2 lvl, lot 1
3. WMR1 - TP 1 lvl, SL 1 lvl, lot 2.

Observed that price will almost always range in or pass through WMS1 to WMR1 and this is the min pip distance for the week and this will be achieved if the 3 trades above get filled and TP, even covering costs.

Taking this over to 10.5 too and banking all pips and let 10.4 do the reserves.

Q in general. To set pends when conditions meet, does price need to close / open beyond the relevant line (say in H4 for 10.4 and H1 for 10.5) or it just need to go certain distance from the lines and not necessary for the candle to close / open. Then set pends for all lines further ahead at the same time rather one by one, set TP's and SL's too like one of your "classic retrace" examples a couple pages back.

Quite a few of us can't handle SL at 240 if it is very far away. I for one can't. So for us, I think the SL at two levels behind is a good area, pls comment.

Regards,
Author:  lionsden [ Sat Mar 23, 2013 2:57 pm ]
Post subject:  Re: 10.4 A Complete System
I believe its Captain Jack he is referring to and his link is on the first page of this thread. Correct Bob?

L

websie wrote:
nanningbob wrote:
cjthomson wrote:Bob,



TJ has one of the simplest methods to trade PIN bars, forget all the rest. He has gotten dozens of guys going fox hunting. I love it. Wish I knew that when I CT traded all the time. It is true that most professional traders use one or two indis and that is it. Something that makes an angle and something that makes a horizontal line. In a nutshell that is my system. 240 is my angle line P/S/R are my horizontal lines. I go trade off the dips/rallies. The RSI 2 helps me filter. I then go trade.
Who is TJ?
Author:  zentauro67 [ Sat Mar 23, 2013 4:07 pm ]
Post subject:  Re: 10.4 A Complete System
I replaced AO for Baluda´s CSSDIFF just as a little experiment. Maybe CSSDIFF is not so useful giving exits but is great when price is near 240 ma. When CSSDIFF turns red or green usually predicts wonderfully a breach in 240MA. This breaches are until now the only weak point i´ve found in 10.4

CSSDIFF could be a great tool to avoid trading when price is reversing or, even,in order to put pendings in opposite direction. This is CADJPY. You can see how CSSDIFF predicts the breaches.
Screenshot - 23_03_2013 , 16_17_44.jpg
In a strong trend CSSDIFF is very useful as exhaustion indi. EURAUD gave some pips last days but CSSDIFF is now reaching the green zone and maybe is time to look for other opportunities elsewhere:
euraud.jpg

I have the feeling 10.4 is evolving towards a strength currency philosophy where cssdiff could perhaps provide more consistent information than AO. How to deal with 240 is the most important intellectual challenge of this system, and cssdiff seems more sensitive when price approaches 240MA hot zone.
Author:  zentauro67 [ Sat Mar 23, 2013 6:47 pm ]
Post subject:  Re: 10.4 A Complete System
One more example of cssdiff sensitivity to 240 cross (in GBPCAD ranging conditions). It only gave one valid signal in a month but it worked.
gbpcad.jpg
Author:  garyfritz [ Sat Mar 23, 2013 8:00 pm ]
Post subject:  Re: 10.4 A Complete System
zentauro, set ignoreFuture = true before you get too excited. Most of these slope-based indicators (including CSS Diff) default to ignoreFuture = false, which means the past history on the chart is fantasy. It's not what you would see in realtime.
Author:  zentauro67 [ Sat Mar 23, 2013 8:23 pm ]
Post subject:  Re: 10.4 A Complete System
Thanks, Gary

I knew the repainting issue, but did not imagine that affected son many bars. I ll check it out with the true settings.
Author:  nanningbob [ Sun Mar 24, 2013 12:29 am ]
Post subject:  Re: 10.4 A Complete System
lionsden wrote:I believe its Captain Jack he is referring to and his link is on the first page of this thread. Correct Bob?
websie wrote:
nanningbob wrote:
cjthomson wrote:Bob,

TJ has one of the simplest methods to trade PIN bars, forget all the rest. He has gotten dozens of guys going fox hunting. I love it. Wish I knew that when I CT traded all the time. It is true that most professional traders use one or two indis and that is it. Something that makes an angle and something that makes a horizontal line. In a nutshell that is my system. 240 is my angle line P/S/R are my horizontal lines. I go trade off the dips/rallies. The RSI 2 helps me filter. I then go trade.
Who is TJ?
CJ sometimes I mix him up with the name Trader Jack, is the best price action teacher I have seen. Most of these guys couldnt teach themselves out of a paper bag but TJ is good at explaining price action. Better at it than I am anyway. My frustration with guys not TP when they should would be solved if they understood some of the principles he teaches. You then wouldnt be getting all these BE hits. He is the first teacher that gets me to go to a lower TF to confirm my TP. Again if you TP midway through a trading session you will also find his pin bars happening during this time. So I like his method and teaching, learning how price acts and moves is a great benefit to traders.
Author:  nanningbob [ Sun Mar 24, 2013 12:37 am ]
Post subject:  Re: 10.4 A Complete System
zentauro67 wrote:Thanks, Gary

I knew the repainting issue, but did not imagine that affected son many bars. I ll check it out with the true settings.
The slope indis work best on higher TF because the repaint issue is lessened. Slower moving less volatile the TF the more accurate it is. One of the reasons I use it on a daily. The rallies and dips dont affect it that much but they will show change of direction which is what you want to know on higher TF. As you can see dips and rallies affect your interpretation on a 4H chart. The AO is far less affected by dips/rallies as compared to slope. If you compare the two you will see that AO works better, that is why I chose it over the slope for the 4H. I did mention this in my booklet.
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