stevehopwoodforex.com
https://www.stevehopwoodforex.com/phpBB3/
Print view

10.4 A Complete System
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481		 Page 68 of 745
Author:  spotdespot [ Tue Feb 26, 2013 10:57 pm ]
Post subject:  Re: 10.4 A Complete System
SteveHopwood wrote:
cmeade2 wrote:For example, if you are below the 240 and the RSI(2) is pinned high and the AO is totally green, he makes it clear that you are looking for a short.
Nice one. I missed this from the documentation. Ok, so it should have been obvious, but I am an idiot.

:D
I don't think so Steve - there are several examples in the PDF (check out the EJ ones off the top of my head (EDIT: "Week 3" just checked) where this isn't the case but this is the ideal scenario. I believe Bob also mentions in this thread that not all ducks have to line up for the trade to be valid.

Cheers,
Dave.
Author:  cmeade2 [ Tue Feb 26, 2013 10:58 pm ]
Post subject:  Re: 10.4 A Complete System
But the point is that you don't have that now on the GU. RSI(2) is moving down and AO is red.

GO SHORT

SteveHopwood wrote:
cmeade2 wrote:For example, if you are below the 240 and the RSI(2) is pinned high and the AO is totally green, he makes it clear that you are looking for a short.
Nice one. I missed this from the documentation. Ok, so it should have been obvious, but I am an idiot.

:D
Author:  cmeade2 [ Tue Feb 26, 2013 11:02 pm ]
Post subject:  Re: 10.4 A Complete System
OK busted. You are right.
allisonmagic wrote:
cmeade2 wrote:But the point is that you don't have that now on the GU. RSI(2) is moving down and AO is red.

GO SHORT

SteveHopwood wrote:
cmeade2 wrote:For example, if you are below the 240 and the RSI(2) is pinned high and the AO is totally green, he makes it clear that you are looking for a short.
Nice one. I missed this from the documentation. Ok, so it should have been obvious, but I am an idiot.

:D

out of everything you've said.. it sounds like your talking about just placing orders at market.. you haven't mentioned anything about pending orders. and where to place them
Author:  cmeade2 [ Tue Feb 26, 2013 11:10 pm ]
Post subject:  Re: 10.4 A Complete System
Allison

You are focusing on a critical issue.

I don't know the details of Bob's thinking when he put together 10.4. I had only communicated with him on the RSI(2) issues.

In my own trading, which I communicated to him, is that I look for movement in the RSI(2) to signal a trade. I thought that he had incorporated that into 10.4. But it seems there was some ambiguity.

Let's wait for him to weigh in.

cmeade2
allisonmagic wrote:
cmeade2 wrote:OK busted. You are right.



out of everything you've said.. it sounds like your talking about just placing orders at market.. you haven't mentioned anything about pending orders. and where to place them

i'm not saying you or anyone else is wrong.. but from what i've learned from this, i was told to set a PENDING order when the conditions you've mentioned are met and that's what i did with eur/nzd .. because price is below 240 and rsi2 is flat top[/quote]
Author:  SteveHopwood [ Tue Feb 26, 2013 11:21 pm ]
Post subject:  Re: 10.4 A Complete System
cmeade2 wrote:Allison

I don't know the details of Bob's thinking when he put together 10.4. I had only communicated with him on the RSI(2) issues.
Sorry, but then why are you weighing in so heavily here?

We all appreciate your input into the RSI(2) immensely - it is pivotal to this system.

If you do not understand the rest of it, should you really be commenting about our trades/prospective trades/pending trades/anything other than RSI(2)?

:D
Author:  cmeade2 [ Tue Feb 26, 2013 11:28 pm ]
Post subject:  Re: 10.4 A Complete System
Steve

I think I understand this system more than you can imagine.

The point of my previous posts is that I think there has been a misunderstanding of Bob's original system.

cmeade2
SteveHopwood wrote:
cmeade2 wrote:Allison

I don't know the details of Bob's thinking when he put together 10.4. I had only communicated with him on the RSI(2) issues.
Sorry, but then why are you weighing in so heavily here?

We all appreciate your input into the RSI(2) immensely - it is pivotal to this system.

If you do not understand the rest of it, should you really be commenting about our trades/prospective trades/pending trades/anything other than RSI(2)?

:D
Author:  cmeade2 [ Tue Feb 26, 2013 11:34 pm ]
Post subject:  Re: 10.4 A Complete System
The key point, getting to Steve's recent response and all of the other posts, is whether EurNzd should have been a short under 10.4.

There have been a bunch of people who have said yes.

I haven't said "no", but I have said I "don't know" based on the 10.4 criteria.
Author:  mjws00 [ Tue Feb 26, 2013 11:47 pm ]
Post subject:  Re: 10.4 A Complete System
LOL. I go do some work and we have 50 posts on this thread.

I'm not Bob, but have put a ton of trades on this thing with real money and in the sim. To see what 500 trades looks like and where the gotchas are.

By the rules. EURNZD is good. We are below 240. RSI is pegged. It is reasonable to place pendings... but we may want to be patient.

The AO is a lagging MOFO. Ignore it for entries. Ignore it before you are in a profitable trade. Your stop is there for a reason. To give your trade room to breathe, not to be canned prematurely by a random green or red bar.

Use it for an overview of how strength is changing. Use it as confirmation. Use it for exits if you don't want to leave prematurely. It also occasionally shows divergence.

Bob's last quote on this.:
nanningbob wrote:Any way you have it right. You are not waiting for the AO to change colors to enter. You have set pending trades while price is going in the wrong direction or is ranging. When price breaks back into the trend it will trigger those trades and also make the AO change color. Your setting of the pending trades had nothing to do with the color of the AO but the RSI 2 or STO 5 being flattened and whether you are above or below the 240 line. Those are the two key reads back into the trend.

The AO only confirms the direction when you are already in the trade. The trade is triggered by your pending trade not the color of the AO.
The way I see it cmeade is dead on in his concerns about just chucking in the pendings. It may be rules based. But, a little discretion and patience may save some heartache. The RSI will twitch, the lower TF one may move a couple times before the 4Hr chart is ripe. The system will still win, but you will have more drawdown and therefore more chance at making a psyche error if you blindly trust.

Mike
Author:  fx800 [ Wed Feb 27, 2013 12:00 am ]
Post subject:  Re: 10.4 A Complete System
I am enjoying this debate. The fact is, if you are sitting in front of your PC, then you can be patient and go to the lower TF to find out what is happening there.

However, if you going to be working and can only check your trades every four hours, then a pending order when the conditions for entry are met would be your only option.

Not all set-ups are equally ideal. So, you have to make a judgement whether you want to set your PO or not.
Author:  SteveHopwood [ Wed Feb 27, 2013 12:12 am ]
Post subject:  Re: 10.4 A Complete System
SteveHopwood wrote:
cmeade2 wrote:Allison

I don't know the details of Bob's thinking when he put together 10.4. I had only communicated with him on the RSI(2) issues.
Then why are you weighing in so heavily here?

On the one hand you say
I don't know the details of Bob's thinking when he put together 10.4.
On the other you say
I think I understand this system more than you can imagine.
If you do not understand the rest of it, should you really be commenting about our trades/prospective trades/pending trades/anything other than RSI(2)?

Oh stuff being tactful. This is my forum so I do not always have to be nice to everyone. You appear to be saying that:
  • 1) You understand 10.4 better than the rest of us.
    2) You only understand RSI(2)
Dammit, which is it? Get a grip.

Not that I care. Leaving my ridiculous misunderstanding about breakeven aside (and I at least admit to that piece of bog-basic stupity) 10.4 is pretty basic. Why are you confusing things with your 'I do....erm...I don't....erm....yes I do.....erm" stuff?

If you have nothing useful to say, then stop saying stuff that is not useful.
All times are UTC Page 68 of 745

Powered by phpBB® Forum Software © phpBB Limited