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| 10.4 A Complete System https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481 |
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| Author: | cjthomson [ Tue May 28, 2013 8:23 am ] |
| Post subject: | Re: 10.4 A Complete System |
Its EURNZD I'm concerned with. All the effort to make something of all these trades and one pair runs things back to zero. Have to learn how to limit this damage. |
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| Author: | nanningbob [ Tue May 28, 2013 8:30 am ] |
| Post subject: | Re: 10.4 A Complete System |
this is why I usually add only one line at a time. I know guys have had some tremendous results with the 20 reentry thing but it also can backfire on you. When you saw those bars go from green to yellow you should know those trades are in trouble. I closed my eur/nzd buy for a loss but it was only a 1 level trade. If you are going to do that kind of trading you have to close out your profits and make sure you only have one or two losers at any time. |
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| Author: | 6y588 [ Tue May 28, 2013 8:46 am ] |
| Post subject: | Re: 10.4 A Complete System |
So, I took some money off the table, and put in some new pending orders at half time. Thanks Bob, trading hasn't been this exciting until I found your system. |
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| Author: | pips400 [ Tue May 28, 2013 9:00 am ] |
| Post subject: | Re: 10.4 A Complete System |
Looking at EURNZD, I've marked up three possible reversal back into the trend areas, shown in blue on the chart. The zones are a confluence of fibs 61.8, 100, 161.8, trendlines, 240MA, and pivots First reversal zone is a bounce off trendline, between the 50-61.8 Fib (last week low to high), also between WP and WMS1. If price breaks lower then next support is Second reversal zone is a bounce off 240MA, 100 fib level, WMS2, if price breaks lower, only one more support found at Third reversal zone is the outer trendline, 161.8 fib, WMS3, after that we're in a downtrend. |
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| Author: | Jemook [ Tue May 28, 2013 9:03 am ] |
| Post subject: | Re: 10.4 A Complete System |
Easy. Drop down to H1 and close when the H1 CSS closed red. You would of taken a loss at 1.598 but wouldn't be in DD and who knows how far this will drop. |
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| Author: | camelx0 [ Tue May 28, 2013 9:24 am ] |
| Post subject: | Re: 10.4 A Complete System |
Hi Bob, No, it's not quite that bad. The economy on this side of the world has been strong for various reasons. China's slowdown has had an affect on resources stocks and overall strength but China is not the only economy on this side and a few others are showing good growth. With the ordinary budget, interest rate drop and the anticipation of the election, which might see a change of government, it has knocked the Aussie dollar off its perch - the nice run we had recently. There are challenges but by far not as great as what the US and Euro zone had and still having to get back on track. B.t.w I like your system very much and have recently got back into trading and picked up from the 10.4 update. Hopefully I can make some contributions over the coming weeks. |
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| Author: | cjthomson [ Tue May 28, 2013 10:34 am ] |
| Post subject: | Re: 10.4 A Complete System |
Does anyone have any thoughts on a short for AUDCHF if it breaks south of the Weekly Piv? |
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| Author: | Gertje [ Tue May 28, 2013 10:44 am ] |
| Post subject: | Re: 10.4 A Complete System |
Definitely take the WP. I trade 10.4/V5 agressively, and already put pendings from WP on all the daily lines to DS1 where I plan to TP. |
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| Author: | endikwong [ Tue May 28, 2013 11:06 am ] |
| Post subject: | Re: 10.4 A Complete System |
hi All, Regarding stop loss: 1. If css colour has turned the other way around (I have "buy trade" and css turns from green to red) , do you close the trade or leave it till it hits the stop loss (in hope price goes back up) ? I think the booklet says to close it straight away. How about overnight trade, should I close it straight away as well? If both are true, then DD% should be kept very minimal but I look at some of past trades here, some losses could be more than 100 pips which the css colour should change before this happens ? 2. Do you wait for the candle to close before close the trade (maybe it changes again) or as soon as the colour changes ? I am sorry if this has been covered before. Thanks |
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| Author: | sponn [ Tue May 28, 2013 11:07 am ] |
| Post subject: | Re: 10.4 A Complete System |
My aud/chf (however css is turned to green now but it is not css trade but WP line cross so I believe it is still valid). |
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