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10.4 A Complete System
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481		 Page 664 of 745
Author:  zentauro67 [ Sun Sep 08, 2013 4:28 am ]
Post subject:  Re: 10.4 A Complete System
nanningbob wrote:
zentauro67 wrote:Thank you for the update and for the indonesian pill of wisdom!
I didnt know it was Indonesian. I thought is was just a funny made up quote. What does it say?? :)
"What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience?”
Author:  nicoacademia [ Sun Sep 08, 2013 7:54 am ]
Post subject:  Re: 10.4 A Complete System
i was like retraining my mind to focus on the xx.00 lines (by sheer repetition n copious amount of pairs and backward eyeballing)

i realised i can now use those price alert functions in my broker platform. :)

so only when price from 24+pairs reach their respective 00s is my attention called to it.

of course then it is to wait for the pattern to play out.
Author:  blazko [ Sun Sep 08, 2013 11:45 am ]
Post subject:  Re: 10.4 A Complete System
Bob, one quick question since I was away since 10.3

To start off with 10.6 and catch up i need two 10.4 manuals covered and your newest pack from page 663, right?

Thank you
Author:  nanningbob [ Sun Sep 08, 2013 12:43 pm ]
Post subject:  Re: 10.4 A Complete System
blazko wrote:Bob, one quick question since I was away since 10.3

To start off with 10.6 and catch up i need two 10.4 manuals covered and your newest pack from page 663, right?

Thank you
The last post on page 662 asked a key question. Would I take this trade? I think I used 2 or 3 posts to answer the question and will give the simple basics. If you read the manuals which get into the meat of the system. Just remember that STO7 replaces what the RSI2 and CSS did on the individual charts. The INFO page reads remain the same. Instead of Weekly Support and Resistance areas we now use the xxx.00 lines along with Weekly Pivot and Daily pivot to enter the trade with the STO 7 signal. The STO 7 will tell you if the signal is a trend signal or counter trend signal. The 60 MA gives you a reference point of about where reentering the trends should take place. That is it in a very short nutshell.
Author:  nanningbob [ Sun Sep 08, 2013 12:51 pm ]
Post subject:  Re: 10.4 A Complete System
Here is an example of a potential trade setting up. USD/JPY.

1. Price is above the 240 line
2. price could be crossing back up past the xxx.00 blue line and MA60
3. STO 7 is pinning on the bottom and we are waiting its signal to go back up.

The new daily pivot will be lower at jpy market open. We can look for a cross back up into the trend and use the blue or new DP as our entrance back up into the UT. So this is an upcoming potential 10.6 trade. It is fun to see these develop. You have time to watch the signals and price action. OR it could continue its reversal back below the 240 line and no trade.

Also you can see on the previous candle a huge pin on the 4H candle which may be a reversal signal.

You will see similar signals on th usd/chf and usd/cad if price goes back above the 240 line.
Author:  nanningbob [ Sun Sep 08, 2013 12:57 pm ]
Post subject:  Re: 10.4 A Complete System
eur/usd is just the opposite and shows a potential sell trade into the new DT.

1. Price has crossed below the 240
2. Look for price to possibly retrace back to the 60
3. Price action will probably be just above the new DP on market open.
4. STO 7 is pinning high so we wait on its signal to enter into the DT.
Author:  nanningbob [ Sun Sep 08, 2013 1:04 pm ]
Post subject:  Re: 10.4 A Complete System
eur/jpy has been ranging for several weeks now crossing back and forth over and back on the 240 line. You can play these going from line to line and with the clear STO7 signals or at least try. These are the kind of trades you want to use the MPTM and bring your SL up so you dont get whiplased.
Author:  nanningbob [ Sun Sep 08, 2013 1:12 pm ]
Post subject:  Re: 10.4 A Complete System
gbp/cad UT seems to be over but with the Syria thing coming down this week it probably along with other pairs range until a final decision is made. But ignoring the news the trade could look like this.

1. Above 240 line looking to buy
2. retraced inside the 60 and DP will be above the price action
3. Looking for the STO 7 to give a buy signal

Again if the market is reversing and it continues going down then we wont be in the trade as long as it doesnt break the DP. Which often happens in a trend change. If it goes into range trade we will have a nice trade of 40-80 pips.

This is the kind of range trade we were not picking up with the 10.4/10.5 series.
Author:  nanningbob [ Sun Sep 08, 2013 1:17 pm ]
Post subject:  Re: 10.4 A Complete System
gbp/jpy since jpy bond sales still going on the jpy should continue to weaken this week.

1. price above the 240
2. retraced back to the 60
3. STO 7 starting its pin on the bottom.

Wait for signal and take it for a ride. This trade has a potential of a couple of hundred pips during the week so I like this one.
Author:  nanningbob [ Sun Sep 08, 2013 1:25 pm ]
Post subject:  Re: 10.4 A Complete System
There is a big elephant in the room this week in our FOREX glass house. Tuesday night the President of the USA will speak to the Nation and lay out his arguments for an attack on Syria. Congress will then debate and either approve or disapprove the move probably Wednesday. Big elephants, major fundamental changes in behaviour, are not predicted by indicators or candle patterns. If what ever happens fits your system it is not the system you were just lucky this time. If the USA Congress approves it will cause the market to move. If the USA congress doesnt it will cause the markets to move the other way, probably even more. If the Congress doesnt approve and the President goes ahead anyway, that will really move the markets in ways you probably havent seen since OCT. 2008.

If you want to trade this type of action I recommend you lower your lots sizes. If you get the big moves you will still make good money. If you dont get the big moves you can limit your losses so you dont damage your account. I wish I knew what was going to happen so I could profit from it but alas I dont.

I have said this before and I will say it again, big news and/or Macro fundamentals will trump any indi. If the news is big ignore the indicators and go for the ride. It is really exciting when you grab the coat tails and your on the winning side for a change. Time for bed for me, catch you all tomorrow.
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