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| 10.4 A Complete System https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481 |
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| Author: | nicoacademia [ Fri May 10, 2013 12:44 pm ] |
| Post subject: | Re: 10.4 A Complete System |
indeed. i find safety and accuracy with 10.4. i don't actually trade 10.4 but it frames everything i do. (explains why i don't post setups but i do call out conditions 10.4 looks out for) |
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| Author: | liberty55 [ Fri May 10, 2013 1:11 pm ] |
| Post subject: | Re: 10.4 A Complete System |
fist of all, sorry for my bad english... I would like to say thank you for your system. 3or 4 week ago my friend ( phovers) talk me about your forum. with my mistakes and my afraid to do some mistake I started with To much trade ( overtradring and wrong direction) I closed all my trades with an general growing about 20%. Présently I fell more confortable and more confidence when I trade.... |
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| Author: | liberty55 [ Fri May 10, 2013 1:12 pm ] |
| Post subject: | Re: 10.4 A Complete System |
fist of all, sorry for my bad english... I would like to say thank you for your system. 3 or 4 week ago my friend ( phovers) talk me about your forum. with my mistakes and my afraid to do some mistake I started with To much trade ( overtrading and wrong direction) I closed all my trades with an general growing about 20% ( only after 4 weeks, it is better than some loses I have before..). Présently I fell more confortable and more confidence when I trade.... presently my own strategy is to monitor in % my goals and when I reach 2-3%/day...I close all the trade. If you remove my bad strart ( -50% DD) my new DD is aroung 6-8%... it is better. thank you for your great job Jean-Pierre |
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| Author: | nicoacademia [ Fri May 10, 2013 1:18 pm ] |
| Post subject: | Re: 10.4 A Complete System |
ben speaking at 930 eastern. (11mins from now) |
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| Author: | pips400 [ Fri May 10, 2013 1:29 pm ] |
| Post subject: | Re: 10.4 A Complete System |
Hi Everyone, it's been a while since I've been on this thread, have spent the last couple of months learning price action on CJs thread which has been a real eye openner. What I love about Bobs system is it provides a framework and guidance for how to trade what you know and moves with the underlying trend. Reading through the last few dozen pages, it seems like some real success is being made by a number of people and so I congratulate you - well done. I do have a question though which I hope someone can answer. With the original system when trading multiple position on a currency, the stop loss was moved to mid point between entry levels effectively break even for the open trades - so I'm wondering whether this apsect is still being used by those having success with this system. I notice some are trading multiple entries so just wondering how the stop loss is being managed. Have a great weekend guys, you've earnt it Pips400 |
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| Author: | nanningbob [ Fri May 10, 2013 3:15 pm ] |
| Post subject: | Re: 10.4 A Complete System |
The moving of the stop loss has been too much as a rule rather than on a particular trade you take a shot at a long run. It is nice to know that some days i can just bring my SL up and let a trade ride. It was never intended to be used on every trade. If you notice I never mention it other than to say never let a winner turn into a loser. Like the pips vs lot size thing it is a tool to use but I dont use them. i stick with my standard five cents to every thousand dollars lot size. I only bring up the SL to BE if I want to take a shot at a big run. Otherwise I pocket my profits I dont risk them for a BE trade. I trade to put pips in the bank not to let my greed train run. IT WAS NEVER MEANT TO LET WINNERS TURN INTO 'BE' TRADES THAT WAS NEVER MEANT TO BE. |
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| Author: | garyfritz [ Fri May 10, 2013 3:18 pm ] |
| Post subject: | Re: 10.4 A Complete System |
I'm just getting started with 10.4, trading it live (demo) for the last few weeks. I wish I had been trading real money!! I don't know how I'll do when I don't have the AUD and JPY crashing, but I'm pleased with how I've done so far. I can only check trades a few times a day so I've just been running CandleTiger's dashboard and entering pendings on just about every pair that signals with RSI. I'm not pulling in 1000's of pips a day like you guys, but I'm happy! I've got about 1500 pips open profit on trades I entered this week, plus another 1100 on older trades: I had $400 in losses when I first started 2 weeks ago, and one $70 loss this week, so I'm up a net of about $2100 in 2 weeks. I think I could comfortably do this on a $10k account -- the initial-trade risk was staggered as I entered positions over the 2 week period, mostly this week -- so I'm pretty tickled! Now the question is if I can keep doing this when AUD and JPY aren't making it easy... |
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| Author: | nanningbob [ Fri May 10, 2013 3:34 pm ] |
| Post subject: | Re: 10.4 A Complete System |
I wasnt going to trade much today but I did anyway. 1.5% banked with less than a 1/2% DD. I place those trades to BE plus a couple of pips to see i I can clear the board before closing. I am over 25% increase on my account for the month, could have been 50% if I had stayed with the 10 cents per thousand but I decided to keep my DD low. I am very pleased to announce my DD was kept to less than 5% at all times this week so those bars are helping me delay my entrances for a better entrance. I dont know if I can keep this kind of trading pace up but it is working really good so far. Even though JPY has dominated the talk JPY crosses made up on 39% of my trades while the aud came in 2nd at 28%. The Cad ran the strongest all week and at times the USD and Euro ran strong. Those were my least traded currencies so I should look as to why I am reluctant to buy than to sell. Anyways Compare the number of trades you took when the CSS on the DAILY/4H was running strongest or weakest and ask yourself why you werent in those trades. |
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| Author: | nanningbob [ Fri May 10, 2013 3:41 pm ] |
| Post subject: | Re: 10.4 A Complete System |
Gary this is where the CSS comes in, comparing the 4H with Daily CSS and seeing which currencies are running weakest and strongest. This is really coming in handy without need to know the fundamentals. I need to emphasize how these two interact with each other more. For example. CAD and GBP were 1 or 2 all week as strongest currencies on the daily and aud and chf the weakest all week. See pic below. |
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| Author: | nanningbob [ Fri May 10, 2013 3:49 pm ] |
| Post subject: | Re: 10.4 A Complete System |
The 4H tells us the CAD stay with all week. BUT but the NZD and AUD dive Tues and Wed. Thent the JPY and CHF dive Thurs and Friday. The USD climbs late Thurs and Friday. I am going to try to read more into comparing 4H CSS with the Daily CSS. See if it gives me a heads up on where to best place my trades for the day. For example AUD on bottom daily but climbing 4H. means a retracement. It changes direction, get into the trend again. |
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