stevehopwoodforex.com • 10.4 A Complete System

Author:

nanningbob [ Wed Feb 20, 2013 2:34 pm ]

Post subject:

Re: 10.4 A Complete System

xrismak wrote:
nanningbob wrote:
ronald123 wrote:
nanningbob wrote:
lhDT wrote:Thanks a million to write that booklet. Now, I get it
Can I ask you how many pairs you're watching for setups and how many setup you got in a week ?

Thanks,http://www.stevehopwoodforex.com/phpBB3 ... 38&p=41186#
Lio
That depends on the broker. With Cowboy IBFX I look at about 25 pairs, I also have a small account with easy Forex but with their higher spreads I have only 8 pairs to trade.
Hi nanningbob. First of all I wanna thank you so very much for sharing this magnificent system. Just found it yesterday and after reading your booklet I realize this system contains all the good ingredients that I came across ever since I've set my mind to 'conquering' Forex, about 8 months ago

There's one thing I have to (finally) get of my chest though, 'cause I keep reading about it over and over again, everywhere I look around (books, forums, etc.): why is everybody so obsessed about 1 or a few pips difference in spread??? I can understand if you're scalping for 3-5 pips at a time, but what difference does it make if your spread is 4 pips instead of 2 or 3, when your aiming for 30-40 or more pips?

I'm sure there's something I'm missing here, but I'm really curious to what it is...

Regards and thanks again for this wonderful gift!

Ronald
It is all advertising gimmick. All these brokers have variable spreads so at the time of entry they can make the lot size anything they want. Some of the worst really abuse this but the reputable ones will only slide you a couple of pips. Many times i do get the spread. Again my feeling about this issue is penny and dime brokers just match up trades in the computer and only have to put out on the market their open risk. So they really make their money on the losers who will range from 65-75% of all traders a every month. I mention this in my book. In my opinion what you want is a fairly reputable broker that is profitable and pay you when you make money and then play with loose SL so he cant play any computer program games with your account. If you control your losses and have a system that will win more than you lose. Add to that multiple profit levels and BE if price spikes against you, like the NZD did yesterday. Then spreads wont bother you. I used to play the aud/nzd when it was 20 pip spreads profitably but it doesnt do that kind of price action anymore. So I want my broker to be profitable but not because of me though.

Bob,
I have been Having myself a Ball with 10.4, and have stuck in some Large Stops too, I love this System, it may have it's flaws as in peeps don't want to be Patient for the Pending orders to Kick in but for me , it will grow my Account Carefully Steadily and Slowly, Yeah now I want to move a few Stops to Break even..... Have fun hope it's Sunny out there now.
Thanks for this System....

Happy Trading Y'all,

xrismak

Thanks, I am having a ball too. I get up, just set a bunch of trades, go out all day and come back to see what happened. Up 4.5% this week just playing around. GBP been nice to me this week so far. Hopefully the AUD will now. Going snow boarding and tobogganing today. Hopefully wont have any broken bones when I am done and another 2-3% in the bank.

The peaker trades I am just knocking them out and resetting the pending trade above/below the previous high/low. Seems to work better than waiting to see if it hits my SL or not. Especially since many of the currency pairs are near the 240 line. Keeps my DD small.

You know, normally I would be having some trades profitable and some not profitable and be sitting on BE for several days but with these multiple entries on profit trades and only a single entry on losers it makes my trading day so much nicer. I may have 5 trades with 2 or 3 losing trades but those two winners would run and multiply so they end up being bigger than my losers as a unit.

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Author:	sponn [ Wed Feb 20, 2013 1:42 pm ]
Post subject:	Re: 10.4 A Complete System
I'm sitting on the aud/usd and aud/chf shorts and eur/aud long... if I haven't got these trades I would take this short for sure. Very nice R:R (ma240 is close)

Author:	Wiggy1965 [ Wed Feb 20, 2013 1:43 pm ]
Post subject:	Re: 10.4 A Complete System
SWG123 wrote: lhDT wrote: Wiggy1965 wrote:Who thinks AUDNZD is setting up for a short @ weekly Res1....RSI is not quite there, but if it does flatten, it looks good to me..... The only thing i still struggle with is the OA, it show strong green, although if we get down to entry at the pivot, we may already have a red bar.... What do you guys think...? Indeed. Down trend as 240 is above the price, OA is topping. So all conditions are met to enter a pending short around 2308 at WR1 with a SL above 240. Took this short @ 2324 (my WR1 is at 1.2326). Hi SWG123, I'm not in yet, i placed my order just below previous candle and i also wanted to make sure i was below the two high candles from yesterday...not the absolute high, just those two peeks in the middle of the day....Just giving myself the best chance....i may miss some pips, but no big deal.... Oh, my pivot is .2317, so a little lower than you.... who is your crim and what time frame are you on,,,,I'm Axi and GMT +2... Regards Wiggy

Author:	Wiggy1965 [ Wed Feb 20, 2013 1:49 pm ]
Post subject:	Re: 10.4 A Complete System
sponn wrote:I'm sitting on the aud/usd and aud/chf shorts and eur/aud long... if I haven't got these trades I would take this short for sure. Very nice R:R (ma240 is close) Spoon, i don't see the AUDCHF or EURAUD....They were there yesterday, but i don't see it today... The AUDUSD is there, but i missed it, too many trades running.... Regards Wiggy

Author:	SWG123 [ Wed Feb 20, 2013 1:56 pm ]
Post subject:	Re: 10.4 A Complete System
Wiggy1965 wrote: Oh, my pivot is .2317, so a little lower than you.... who is your crim and what time frame are you on,,,,I'm Axi and GMT +2... Regards Wiggy Bully Pepperstone +2 You're probably wise to wait, that peak yesterday was a bounce off the round number at 1.2300. If it looks like reversing again I'll be out, given that it's not the best time of day to trade this pair and there may not be enough volume to break through.

Author:	nanningbob [ Wed Feb 20, 2013 1:57 pm ]
Post subject:	Re: 10.4 A Complete System
ronald123 wrote: nanningbob wrote: lhDT wrote:Thanks a million to write that booklet. Now, I get it Can I ask you how many pairs you're watching for setups and how many setup you got in a week ? Thanks,http://www.stevehopwoodforex.com/phpBB3 ... 38&p=41186# Lio That depends on the broker. With Cowboy IBFX I look at about 25 pairs, I also have a small account with easy Forex but with their higher spreads I have only 8 pairs to trade. Hi nanningbob. First of all I wanna thank you so very much for sharing this magnificent system. Just found it yesterday and after reading your booklet I realize this system contains all the good ingredients that I came across ever since I've set my mind to 'conquering' Forex, about 8 months ago There's one thing I have to (finally) get of my chest though, 'cause I keep reading about it over and over again, everywhere I look around (books, forums, etc.): why is everybody so obsessed about 1 or a few pips difference in spread??? I can understand if you're scalping for 3-5 pips at a time, but what difference does it make if your spread is 4 pips instead of 2 or 3, when your aiming for 30-40 or more pips? I'm sure there's something I'm missing here, but I'm really curious to what it is... Regards and thanks again for this wonderful gift! Ronald It is all advertising gimmick. All these brokers have variable spreads so at the time of entry they can make the lot size anything they want. Some of the worst really abuse this but the reputable ones will only slide you a couple of pips. Many times i do get the spread. Again my feeling about this issue is penny and dime brokers just match up trades in the computer and only have to put out on the market their open risk. So they really make their money on the losers who will range from 65-75% of all traders a every month. I mention this in my book. In my opinion what you want is a fairly reputable broker that is profitable and pay you when you make money and then play with loose SL so he cant play any computer program games with your account. If you control your losses and have a system that will win more than you lose. Add to that multiple profit levels and BE if price spikes against you, like the NZD did yesterday. Then spreads wont bother you. I used to play the aud/nzd when it was 20 pip spreads profitably but it doesnt do that kind of price action anymore. So I want my broker to be profitable but not because of me though.

Author:	nanningbob [ Wed Feb 20, 2013 2:06 pm ]
Post subject:	Re: 10.4 A Complete System
Wiggy1965 wrote:Who thinks AUDNZD is setting up for a short @ weekly Res1....RSI is not quite there, but if it does flatten, it looks good to me..... The only thing i still struggle with is the OA, it show strong green, although if we get down to entry at the pivot, we may already have a red bar.... What do you guys think...? Regards Wiggy Why all this emphasis on the AO for entries. I dont think I ever mention it for entries except as a signal that the run could be strong. For example my entry into the aud/nzd has nothing to do with the color of the AO. However that the bars are above the 0 line means if price goes back into the trend the move could be very strong. You can see I have set up 4 entry points. I am looking for a strong move. Price is below 240, gotta a nice retrace back to the 240 line AO is above the 0 line, RSI 2 has flattened on top. If aud changes direction above the 240 I will close all the pending trades. If it goes south I am ready and I expect it to be strong. That is what the AO is telling your, whether it is green or orange is irrelevant on entries.

Author:	xrismak [ Wed Feb 20, 2013 2:09 pm ]
Post subject:	Re: 10.4 A Complete System
nanningbob wrote: ronald123 wrote: nanningbob wrote: lhDT wrote:Thanks a million to write that booklet. Now, I get it Can I ask you how many pairs you're watching for setups and how many setup you got in a week ? Thanks,http://www.stevehopwoodforex.com/phpBB3 ... 38&p=41186# Lio That depends on the broker. With Cowboy IBFX I look at about 25 pairs, I also have a small account with easy Forex but with their higher spreads I have only 8 pairs to trade. Hi nanningbob. First of all I wanna thank you so very much for sharing this magnificent system. Just found it yesterday and after reading your booklet I realize this system contains all the good ingredients that I came across ever since I've set my mind to 'conquering' Forex, about 8 months ago There's one thing I have to (finally) get of my chest though, 'cause I keep reading about it over and over again, everywhere I look around (books, forums, etc.): why is everybody so obsessed about 1 or a few pips difference in spread??? I can understand if you're scalping for 3-5 pips at a time, but what difference does it make if your spread is 4 pips instead of 2 or 3, when your aiming for 30-40 or more pips? I'm sure there's something I'm missing here, but I'm really curious to what it is... Regards and thanks again for this wonderful gift! Ronald It is all advertising gimmick. All these brokers have variable spreads so at the time of entry they can make the lot size anything they want. Some of the worst really abuse this but the reputable ones will only slide you a couple of pips. Many times i do get the spread. Again my feeling about this issue is penny and dime brokers just match up trades in the computer and only have to put out on the market their open risk. So they really make their money on the losers who will range from 65-75% of all traders a every month. I mention this in my book. In my opinion what you want is a fairly reputable broker that is profitable and pay you when you make money and then play with loose SL so he cant play any computer program games with your account. If you control your losses and have a system that will win more than you lose. Add to that multiple profit levels and BE if price spikes against you, like the NZD did yesterday. Then spreads wont bother you. I used to play the aud/nzd when it was 20 pip spreads profitably but it doesnt do that kind of price action anymore. So I want my broker to be profitable but not because of me though. Bob, I have been Having myself a Ball with 10.4, and have stuck in some Large Stops too, I love this System, it may have it's flaws as in peeps don't want to be Patient for the Pending orders to Kick in but for me , it will grow my Account Carefully Steadily and Slowly, Yeah now I want to move a few Stops to Break even..... Have fun hope it's Sunny out there now. Thanks for this System.... Happy Trading Y'all, xrismak

Author:	nanningbob [ Wed Feb 20, 2013 2:18 pm ]
Post subject:	Re: 10.4 A Complete System
aud chf trade showed set up last Friday. I set my pendings and waited. It has failed twice to break above the 240, and so I see a potential strong move down based on the AO hanging above the 0 line but failing to break the long term trend. Time to expect the aud to weaken and the CHF to strengthen. The signal has not changed so I have not changed my position. Remember I mentioned in the book you can use RSI 2 most of time but AO above 0 and price below 240 is showing a potentially strong move back into the trend. Here are the signals: Last thurs/fri RSI 2 marked in green AO above 0 marked on blue price below 240 AO giving divergance marked with a red line Price action double top . Red meat for the dogs anyone????

Author:	thomasmore [ Wed Feb 20, 2013 2:27 pm ]
Post subject:	Re: 10.4 A Complete System
Capture.PNG Took 3 trades today, 3 in the green. What a feeling.....

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