Hi everyone ... MurphyMan suggested some changes and update for the cheat sheet ...
so here it is
Wish all a profitable Trades with Ten4n5 ...
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| 10.4 A Complete System https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481 |
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| Author: | nanningbob [ Sun Mar 31, 2013 10:54 am ] |
| Post subject: | Re: 10.4 Regime |
The news to look out for is called Macro-economic news. The rest is just daily fluff. Countries/banks going bankrupt and taking people's deposits is Macros news. The fallout will last for weeks or months. NZD not raising its interest rates made the market jump but didnt change the direction of the market. I look for Macro-economic news that changes market direction or entrenches it. That takes time to learn and watch for. To find it, find out what made price change direction on a monthly chart. I review trades but I dont dwell on them. I never beat myself up for taking profit. Most of the time I get a good part of a move. I never try for all the move, good way to lose money. I dont dwell on a loss. Has nothing to do with a read or entrance. I take my loss and move on. I try to keep ice in my veins, I am an American and long term bullish on the USA. But I realize it wont be bullish if our govt. doesnt cut back on it massive deficit spending. If we do, USA has a decent future. If we dont, then we will be Euro 2. I try to make sure my pro USD or JPY or EURO moods do not affect my trading decisions. Become a-political, dump your conspiracy theory, and trade cold and independent. Take your emotions out on some politician. I trade, simple, I just trade. I dont go through any long process. CSS tells you where to look for your best trades. Top two lines look for buys, bottom 2 lines look for sells. The others pick and choose what looks good. Price below 240 sell, price above buy, Take the ones that look the best at the time with the RSI 2 or Sto 5. Set my pendings, SL, TP on to the next pair. If I spend more than a minute on a chart something is wrong. It is a simple read. Check my chart every 4 hours and make adjustments. Last week was a slow week except Monday and Wednesday. I took 75 trades. I was 55 and 19 with 1 break even. Only two trades hit my 240 MA SL line. Biggest loser 147 pips biggest winner 56 pips. That is a 75% win rate. Some of those losers could have been winners but I closed for the day and was done. Maybe with more patience I would have been 72 and 2. In 6 weeks of 10.4 I have averaged 465 pips a week and an 70% win rate. My win rate has been going up every week as I get better with the system. Biggest loser -397 pips biggest winner 137. My average losers are 8 pips bigger than my average winner but with a 70% win rate that becomes meaningless. I increased my account for March 25%. If you worked for a brokerage or any kind of money fund and did that for a year, you are a superstar. Millionaires would pay you a lot of money to make 25% a year. I did it in one month. There are guys here lurking in the back ground snickering, I beat nanningbob this month. There are some really good traders in this forum. Some guys are making money for the first time. Be patient, you will get better. Bottom line. I dont care if you trade a penny a trade and have a 10,000 dollar account. Learn to trade with no emotion. Once you find a lot size that fits your emotional level where you have no emotion. You got it. If you are afraid of a trade either dont trade, lower your lot size, or put more money in the account. Get to the point where you can trade and if price goes 100 or 200 pips against you, there is no murmur, no cussing, no blaming God, the broker, your favorite conspiracy, THE FOX (sorry CJ) etc. You look for your next set up because it will hit first level, then second level, sometimes a third level and most of or all of the 200 are back in the bank. Sorry for the rant I probably didnt answer a thing you asked. |
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| Author: | huhpapa [ Sun Mar 31, 2013 1:31 pm ] |
| Post subject: | Re: 10.4 A Complete System |
Hi everyone ... MurphyMan suggested some changes and update for the cheat sheet ... so here it is Wish all a profitable Trades with Ten4n5 ... |
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| Author: | zentauro67 [ Sun Mar 31, 2013 2:15 pm ] |
| Post subject: | Re: 10.4 A Complete System |
Next months look like a puzzle with no solution. If U.S. and European debt crisis sharpen JPY and GBP should be the winners, but the governments of Britain and Japan seem so determined to weaken their currencies ... Commodities currencies, under a collapse of the U.S. and whith problems beginning to appear in China... well, the only reason to go up should be "because all the others are going down". I would bet AUD, which is highly correlated with gold (another potential winner in this hellish situation), not CAD, too dependent on the U.S. and correlated with oil (other potential loser). Anyway, trendish days are coming, and this is good news for 10.4. |
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| Author: | MurphyMan [ Sun Mar 31, 2013 3:52 pm ] |
| Post subject: | Re: 10.4 A Complete System |
Now a permanent fixture of Post #1 on the Dummies page. Thanks! I love Cheat Sheets. If you guys have suggestions for the Cheat Sheet, work it out with huhpapa, then he can let me know. Also, uploaded newest version of Bob's Pearls of Wisdom to the Dummies thread. http://www.stevehopwoodforex.com/phpBB3 ... =37&t=1504  |
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| Author: | trueblueTEX [ Sun Mar 31, 2013 6:10 pm ] |
| Post subject: | Re: 10.4 Regime |
Nanningbob, thanks for the rant. I trimmed a lot out of your post above and I really think you've summed up the attitude of the successful trader pretty well there. Thanks again for the rant. TEX |
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| Author: | hansnl [ Sun Mar 31, 2013 8:03 pm ] |
| Post subject: | Re: 10.4 Regime |
Please Bob keep on ranting once a week the system in a nutshell Brillant, thanks a lot.. hans.. |
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| Author: | davek [ Sun Mar 31, 2013 8:03 pm ] |
| Post subject: | Re: 10.4 A Complete System |
Hi: Happy Easter everyone. I guess I am uncertain on a setting of the 10.4 CurrencySlopeStrength 1.0.4 indi. We are all setting the input in ignoreFuture to false, correct? davek |
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| Author: | SteveHopwood [ Sun Mar 31, 2013 9:22 pm ] |
| Post subject: | Re: 10.4 Regime |
Bob's an Amateur Ranter, but I hope to bring him up to speed with more Professional Ranting eventually. |
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| Author: | SteveHopwood [ Sun Mar 31, 2013 9:33 pm ] |
| Post subject: | Re: 10.4 Regime |
Yep. I look first at the RSI. If it is not flat at either the top or the bottom then I know I am too late to catch the move and go to the next chart. No need to bother with anything else. Yep. If you find anything simpler still, I will be even more astonished than I continually am by what you offer us.  |
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| Author: | Jonathan2FI [ Sun Mar 31, 2013 9:54 pm ] |
| Post subject: | Re: 10.4 Regime |
Bob, thanks for the reply.....in summary avoid the noise of news unless it has macro impact CSS select strongest and weakest to give yourself the best chance Follow the set up in 10.4 Money management .....and get the psychological aspect of trading and drawdowns without emotion usually somewhere between 0.5 and 2 % ...if this does not fit with 10.4 rules then don't trade , get a micro account or invest more capital in your trading account. Practice and discipline will see % success rate increase Check trades/charts briefly every 4 hours!!! This a problems since I can only check my charts manually at 7am and 2100 GMT during the week. So will use an EA like MPTM to support during short periods of absence. Jonathan |
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