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10.3 SCALPER/RANGE TRADE SYSTEM
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=919		 Page 48 of 178
Author:  hilavoku [ Mon Nov 12, 2012 12:30 pm ]
Post subject:  don't forget the fundamentals
Wow.
Friday i had plus 500€ on my demo. Today i took ~ -200€.
I just logged into my VPS, studied the charts and placed my 10.3 trades. I took three trades XXXJPY - sell .
The indis did show me to do so but i should have taken a look at the news. At GMT+1 06.00am in the morning (2 hours before i took the trades) there was a news saying: "japan economy is shrinkening".

So the three trades gave me -300€ . I learned another lesson :-|
Hope there won't come too many. Wanna go live ... :-)

have a nice trading week
Guido
Author:  Faramirsen [ Mon Nov 12, 2012 1:58 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Hello everybody,

I was just thinking about an exit strategy - so what do the experience traders think about the following:
exit strategy.gif

This would only apply if the rules of 10.2a apply.

Well maybe we can discuss it here? I checked on some other pairs and it looked promising?! The only problem would be spikes during news releases...
Author:  nanningbob [ Mon Nov 12, 2012 2:23 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Faramirsen wrote:Hello everybody,

I was just thinking about an exit strategy - so what do the experience traders think about the following:
exit strategy.gif

This would only apply if the rules of 10.2a apply.

Well maybe we can discuss it here? I checked on some other pairs and it looked promising?! The only problem would be spikes during news releases...
Well, dont feel bad 9 of my first 10 trades were losers and most them went and hit the -18. However I am now 6 and 9 for the day and my average wins are at 17 pips and my average losers are -16 pips.I still have 7 trades on the board so if I go 5-2 the rest of the day I still will profit so hang in there. My mistake is I set my trades too early and need to be closer to the euro open before opening them. I was too late setting them for the JPY session so should have waited. All they did was enter and then slowly floated to the SL line. The ones i set just before the euro and usa open have either profited or are just sitting there doing nothing. So still some hope of pulling this day out.
Author:  nanningbob [ Mon Nov 12, 2012 2:31 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Faramirsen wrote:Hello everybody,

I was just thinking about an exit strategy - so what do the experience traders think about the following:
exit strategy.gif

This would only apply if the rules of 10.2a apply.

Well maybe we can discuss it here? I checked on some other pairs and it looked promising?! The only problem would be spikes during news releases...
The problem with your example is you are entering a sell when white above green is a buy day but would be a trade with 10.2a. The buy trade that day would have been good for 40+ pips and yes the sell did run. The only reason I would have taken a sell trade that day if I knew a fundamental was acting on the currency and it was good for a sell. 10.2a gave that signal also. A +10 trail looks good on a nice runner but a choppy market would only bring a small profit.
Author:  nanningbob [ Mon Nov 12, 2012 2:45 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
The interesting thing about your trade example is both systems showed profitable trades.
Author:  Faramirsen [ Mon Nov 12, 2012 2:57 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Faramirsen wrote:Hello everybody,

I was just thinking about an exit strategy - so what do the experience traders think about the following:
exit strategy.gif

This would only apply if the rules of 10.2a apply.

Well maybe we can discuss it here? I checked on some other pairs and it looked promising?! The only problem would be spikes during news releases...
My bad - that was a stupid example. :oops:

I had the same experience today - I set my trades too early in the JPY session. I think around 1 - 2 hours BEFORE Frankfurt open is a good time. I did not set anymore trades for US session as they have bank holiday :roll:

Ratio for today as following (10.3 basic rules):

Took 21 Trades

61% winners, 39% looser
Author:  disbellj [ Mon Nov 12, 2012 5:26 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Rob,

I know how Steve feels about it, and you know what? I feel like it's BS too. But I've had to deal wth this for 5 years. Doing something yourself on your platform is one thing. Sharing something with others and them getting close to your results without yours and mine "out-of-the-box" correct day start is just not gonna happen. Like I've said, I've dealt with this for 5 years, and to me it's about time to put a friggin' stop to it, automate it cause it has to be able to be automated (we're close... I got a target and get the offset correctly already, just the shift needs to be corrected, and that is in start function and the fix shouldn't be more than 2-3 lines at most needing changed. I'm too close to give up on FINALLY bringing all of US (not U.S., US you, me, all underdog traders) to the same open time. Should it not be easy and people should know what time Forex opens? Yet this differs on different websites even. Misinformation in this industry is about as bad as it ever gets in any industry. I've had multiple brokers myself live accounts, and I'm not just doing this for others, I think it's BS and want it fixed and automatic for me as much as anyone else. Not just offset, but open time target. It is standard, treated so by the big guys, me and you happen to be on it, but not everyone does, and I'm gonna do my best to make it work. It taking an extra seconds to place template for automation is worth it to me. Once it's automated, I won't have to think about it again. It won't be a re-occurring problem for the next five years if I can do anything about it.

Kindest regards,

Don

GT3RS wrote:Hi Don,

I'm not trying to put anyone down. I posted the indicators with the intention of helping.

However it is one of my pet hates (and I'm pretty sure Steve thinks the same) that without exception, when a strategy is posted online which involves some sort of sensitivity with regards to time, there are always loads of questions about gmt, bst, est, criminal times etc.

IMHO, people should be able to figure this out very easily.

Forget gmt, est etc....

My platform is at LONDON time plus 2 hours.

Therefore, NY close is at midnight ON MY PLATFORM (or 10pm my local time.

The pivot shift Time is therefore zero.

The pivots display correctly on my platform. If they don't on anyone else's then beyond saying what I've said above, I can't really assist.

I, along with everyone else on here appreciate your coding,but please don't take it that I was attacking you. That was not the case.

I sincerely don't want this thread to disintegrate into an argument about time, or anything else for that matter!

Cheers,

Rob
Author:  xrismak [ Mon Nov 12, 2012 5:31 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
disbellj wrote:Pivot Points - Daily (Shifted).mq4 is what I used and am trying to automate the process.

Can we PLEASE refrain from passing judgement on what careers who and who doesn't need to be involved in? Everyone has had to come to this same problem again and again, and I for one want to fix it once and for all. Of course someone can put it in there manually. But you know what? If they don't know how, they can learn, they don't have to not be in Forex. Those kinds of remarks are totally uncalled for.

Don
Don, YES, on that POINT, I quite Agree with you, I Speculate to Accumulate consistently with FX Retail trading but I still don't know what my Criminal's Daily open time is even though I have been trading for quite sometime.
So if anyone cares to show and make the Process easier for us Ignorant FX traders what will be of benefit to us and our Wallets for Free, I am right behind with loads of Support for that Good fellow all the way..... ;) Good Job Don and keep up the good work 'cause it's of immense benefit to the likes of myself.. :)

Happy Trading,

Y'all.

xrismak.
Author:  xrismak [ Mon Nov 12, 2012 6:02 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
nanningbob wrote:
disbellj wrote:This is what I've come up with. I would discard previous versions, since I had to change to use website George gave to get Eastern time, while still using another one to get date. Works on FXDD all timeframes below D1 (of course not D1), but needs testing on especially on other criminals.

Bob, I guess as far as practicality is why I see using H1 and if needed place TmaSlope D1 and H4 on H1 if needed using multi-timeframe TmaSlope indicator. It's not just because I don't like switching screens all the time, although that's an added benefit. Hopefully I can look at your updates and show you what I'm talking about after that. Believe me, I'm not wanting to take away from your strategy. If at any point I don't like it, there's something else I'm trading live right now anyways, so don't have to do your strategy. But I want to.

Kindest regards,

Don
With this system the slope indi becomes less needed because you now have direction clealy laid out and as long long as white is above green on a buy you can follow the strength of the move. After using the TMA slope true I am going back to the original slope. It tells a story that the true does not. I will be writing more about that later in another thread. It will flip out the repainting issue with people but by not repainting I am missing the predictability of the strength of the move. There is something the repaint slope will tell that the true never can and I am going to point it out and go back to the original slope.
Bob,
I took this trade according to the simple 10.3 rules eyeballing the TMA Slope Normal, set the TP just above the DS1, we will see what happens then I 'll say something.. :)
Happy Trading Y'all,

xrismak :D
Author:  ciliano [ Mon Nov 12, 2012 7:31 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Let a bad basket run over the weekend and the EA closed it at about -600 pips. I should have closed it manually earlier. Still well positive for the history of 10.3 trading though.
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