stevehopwoodforex.com • 10.4 A Complete System

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nanningbob [ Sun Apr 28, 2013 10:20 am ]

Post subject:

Re: 10.4 A Complete System

AUD/CHF SELL EXAMPLES 1, 2, AND 3

EX. 1 Price is hanging around the 240 line and RSI2 is giving a signal. However the css is showing two things.
1. It is green
2. the 2 currency lines have separation. You want to see them narrowing towards each other at the black X.
3. Finally the CSS turns gray and you set your pending trades. You can do this on the 4H chart or use the daily lines on the 1H or 30 M chart.
4 You now have a successful trade going that does very well. As long as the two lines are widening you can stay in the trade, take profit at every line and/or enter new pendings. When the lines begin to narrow you look for your best exit.

EX. 2
1. You are below WS1 (green line on the chart) You get a signal but the trade downs not go anywhere.
2. A green bar pops up and you close all your pending and trades. This lets you know apotential whip lash could happen to you. It doesnt but that is the warning system.
3. it goes gray again and you set up some trades. Again not much movement and a green bar shows up letting you know it is time to bail out early. Close trades and pending orders.
4. It goes gray a third time and confirms with red but it doesnt go anywhere so you bail and close a third time. Each time price goes nowhere but there is also a warning not to hang around in the trade. Potential danger ahead.
5. You also notice both lines are flat for both currencies so price aint going anywhere. Better off finding something better to trade.
6. Maybe you made some pips, maybe you lost some pips here but either way the system warned you very clearly.

EX. 3 RSI 2 gives you a signal but it is almost 50 hours before the trade becomes a valid trade. The green CSS is telling you not to trade. DONOT put pending sells while the bar is green.
1. Finally the bar turns gray and so far you have a 30-40 pip profitable trade.
2. You could take your profit and set another pending below WMR1 or move SL up to +5 or +10 and let it run or take half now and let it run or ?????????????

So this is an example of a sell scenario its entrances, and its warnings.

The TP part of this will come later. Right now grab your pips and run.

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Author:	Ingot54 [ Sat Apr 27, 2013 3:07 pm ]
Post subject:	Re: 10.4 A Complete System
In order to avoid off-topic discussion regarding the YEN crosses, I have commenced a thread here: http://www.stevehopwoodforex.com/phpBB3 ... f=6&t=2012 to look at how the developing fundamentals of the policy of the BOJ can affect our technical setups. The purpose of that thread is to give a heads-up to moves and statements that can and will help us gain an edge in our technical trading approach. When there exists a higher probability of the beginning/end of a trend, we are wise to be ahead of the action. I would appreciate your using that thread to post Fundamental news - no matter how small or obscure - so that this thread can remain dedicated to how Bob is developing the 10.4 ... and the posting of technical trading setups etc. Please link to that thread if something is likely to affect the XXXJPY crosses, instead of posting news stories on this one. The idea is to have all the news on BOJ/YEN in one place, where I am certain traders on other threads can also access it. It would no longer be hidden away on individual threads ... but accessible easily. I think what is happening in japan is not only unprecedented (like a lot of what is going on world-wide) but of vital importance to currency trading generally. Please remember to suitably acknowledge your sources, and link-back where possible - these people have to eat too, and their work is very beneficial to us ... common courtesy ... yada yada! Thanks Ivan

Author:	nanningbob [ Sun Apr 28, 2013 9:49 am ]
Post subject:	Re: 10.4 A Complete System
OK. I have gotten as far as i can on this for the weekend. I wont be able to get back to this until the end of the week but I am sure some of you will want to play with it. This is the entrance part of the 10.4 update. I am replacing the AO with something more dynamic. This will help you time your entrances much better and when to set you pending orders so you are not too early. I am still having conflict problems with the exit indi so will turn that over to Baluda and let him work on that more. \ Also all the indis we were reset to use less computer RAM because the new indi will use it. I set everything to 100 or 200 bars and if that still hogs up too much RAM you can cut them down even more. Also the RSI was redone by Baluda to use less resources. I have a 4H and 1H version put in the template. I think you will really like the new CSS set to every currency pair and read with the RSI 2. The two together will keep you from entering too early and also signal to close out tradeds and pendings so you wont get into trouble with DD. The exit part I want to add still has some work to do and I am just too tired to do anymore today and have a very busy week. So will get to it again later in the week. So here it is. I will do some explaining but the booklet part will have to come later. Good luck.

Author:	nanningbob [ Sun Apr 28, 2013 9:53 am ]
Post subject:	Re: 10.4 A Complete System
OK very simply here are the rules. When RSI 2 and 240 line give a siganal you will now use the CSS to filter when to set your entrances. Basically the rule is simple: RULE 1 NEVER SET PENDING BUYS WHEN IT IS RED NEVER SET PENDING SELLS WHEN IT IS GREEN RULE 2 SET YOUR PENDING WHEN IT IS THE NEUTRAL GOLDENROD. RULE 3 IF THE COLOR CHANGES TO RED WHEN YOU HAVE BUYS CLOSE THE PENDINGS OUT IF THE COLOR CHANGES TO GREEN WHEN YOU HAVE SELLS CLOSE THE PENDINGS OUT THOSE ARE THE RULES IN ADDITION TO THE BASIC 10.4 SETUP. SIMPLE ENOUGH NOW FOR SOME EXAMPLES

Author:	nanningbob [ Sun Apr 28, 2013 10:37 am ]
Post subject:	Re: 10.4 A Complete System
CAD/JPY buys part of the big JPY move. I realized gray bars and gray background doesnt let you know when you have a color change so changed it to goldenrod. New color indi and template are attched. EX. 1 Bar is green, price is running jump on it. EX. 2 signal is given bar is red, just stay out. EX. 3. Signal is given, nice move up for two levels nice profit. EX. 4 Not a big move but some profit. EX. 5 Not much here both lines are flat dead showing no movement. Probably not worth dealing with. EX. 6 Possible trade for Monday??

Author:	nanningbob [ Sun Apr 28, 2013 10:46 am ]
Post subject:	Re: 10.4 A Complete System
23 people downloaded the update and then I changed the template and indi from a gray to goldenrod. I also deleted a couple of posts because they were between my posts. Sorry I did that but I wanted to keep the system together with the explanations. You can repost if you wish. This is only a partial of the system but it should greatly help your entrances. Good luck. I also added pics of what the 4H and 1H should look like.

Author:	slowkey [ Sun Apr 28, 2013 1:25 pm ]
Post subject:	Re: 10.4 A Complete System
This is only a partial of the system but it should greatly help your entrances. Good luck. I also added pics of what the 4H and 1H should look like. Always loved this slope indicator with the pairs as diverging and converging lines.. You have taken it to a whole new level. Really fits nicely into your system as a whole. Looking forward to trading with it this week. I think everyone will be real pleased with this indicator.

Author:	sponn [ Sun Apr 28, 2013 1:39 pm ]
Post subject:	Re: 10.4 A Complete System
I don't know if it only for me but when I try to change TF Empty4 crashes with new update/template. Update I see that In Journal/expert I have got info that ex4 files are corupted. I have tried to compile all files manually from mq4 files but still the same error. Any thoughts ? 2013.04.28 15:54:42 10.4 4H RSI2 EURUSD,H4: executable file is corrupted. Please recompile it. 2013.04.28 15:54:42 10.5 1H RSI2 EURUSD,H4: executable file is corrupted. Please recompile it. 2013.04.28 15:54:42 10.5 CurrencySlopeStrength1.0.7d EURUSD,H4: executable file is corrupted. Please recompile it. 2013.04.28 15:54:42 10.5 DP 05.01 EURUSD,H4: executable file is corrupted. Please recompile it. 2013.04.28 15:54:42 10.5 DMP 05.01 EURUSD,H4: executable file is corrupted. Please recompile it. 2013.04.28 15:54:42 10.4 WP 05.01 EURUSD,H4: executable file is corrupted. Please recompile it.

Author:	nanningbob [ Sun Apr 28, 2013 2:16 pm ]
Post subject:	Re: 10.4 A Complete System
Sorry the numbers dont line up on the examples but they do on my chart but not the pics. Dont understand why. Must have something to do with the update that came down this weekend. Hope it doesnt screw up the indis.

Author:	nanningbob [ Sun Apr 28, 2013 2:27 pm ]
Post subject:	Re: 10.4 A Complete System
Dont know whether or not to play the bounce off of the 240. Here is the way to know. #1 RSI 2 giving a signal--will it bounce off of the line and go back down. Goldenrod color said yes, Would have been a nice trade. #2 Same scenario -- This time the indi stayed green and you would not put on pending trades. So no trade taken In the last two weeks I took both of those trades. I won in one and took a SL on the other. With this indi set up I never would have taken the 2nd trade and would have saved my self a SL.

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