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| 10.4 A Complete System https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481 |
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| Author: | nanningbob [ Thu Sep 12, 2013 8:27 am ] |
| Post subject: | Re: 10.4 A Complete System |
Guess everyone got scared away. |
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| Author: | art [ Thu Sep 12, 2013 8:28 am ] |
| Post subject: | Re: 10.4 A Complete System |
morning all , just catching up with all the posts and the new system, bob, what do you do when big news is breaking while your sleeping, do you just put tight stops on any open trades, or close them out, im looking what happened overnight,uk time, with the aud, your thoughts thanks |
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| Author: | nanningbob [ Thu Sep 12, 2013 8:47 am ] |
| Post subject: | Re: 10.4 A Complete System |
Depends on what kind of trades. Protect your profits or close them. As I have said many times I close out half way through sessions so most of my trades are not running. I checked my stat sheet and my average winning trade is 18 hours and losing trade is 54 hours as far as time in. The losing trade time in is high because I will hold onto trades longer when the market is ranging to see them come back up again. That time is a lot less when markets are trending. The AUD had a news story so it spiked. Good for me I had CT trades on. Also had them on NZD but it went nowhere. I have closed all those CT trades because that is the nature of CT TRADING. Catch the retrace and get out. I go to bed every night around the EURO close so my trades are open all night during the last half of the USA session. Seldom does anything happen but drifts from the morning session most of the time so I just keep them going and close or set new trades. Basically my trades fall into two sections. JPY session and Euro session. I make some adjustments for the USA session but by the EURO close my day is done. If some look good I keep them, if some dont I close them. |
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| Author: | Nidolap [ Thu Sep 12, 2013 8:56 am ] |
| Post subject: | Re: 10.4 A Complete System |
Still here. But last couple of days I've been trying this new xx.00 approach on the 1H TF, using the 240MA for direction orientation. What I am discovering is that on the 1H market reacts more to news and gives us some spikes that I was not aware on the 4H... I'll be back to work on Monday so this 1H test wil end and be back to 4H 10.6. |
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| Author: | art [ Thu Sep 12, 2013 11:03 am ] |
| Post subject: | Re: 10.4 A Complete System |
thanks for that bob |
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| Author: | art [ Thu Sep 12, 2013 11:10 am ] |
| Post subject: | Re: 10.4 A Complete System |
is anybody still using the dashboard? just using the stoch column |
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| Author: | peranders [ Thu Sep 12, 2013 11:12 am ] |
| Post subject: | Re: 10.4 A Complete System |
Thanks a million Bob for your generosity and time helping noobs like me out understanding the FX-quirks. Another thing (besides 10.x) that has helped me a lot trading and anticipating news events for AUD and NZD is your reports about employment and economy in China. I live in Sweden so without them I have to set my alarm clock for the news event and wake up in the too early morning and then be tired all day at work. With them I can be more confident that because you have said job lines in China where getting longer and longer (more unemployed, sorry for the ppl affected) so I then knew that no matter if the data came out good it was no reason to go long even when AUDUSD broke out above 240 LWMA. So if you could give a hint every now and then it is much appreciated. |
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| Author: | nanningbob [ Thu Sep 12, 2013 12:03 pm ] |
| Post subject: | Re: 10.4 A Complete System |
I tried for almost a year of my life to trade successfully on the 1H chart. Then I came up with this rule if the 4H and 1H agree to go ahead and trade. I finally just gravitated to the 4H chart and seldom use the 1H anymore. I did use the 1H in 10.4/10.5 but that was only to use the S/R/DP lines to enter and exit. So I am back to where I am most comfotable. It would be interesting if we put the Daily/4H/1H Sto on one chart and trade when all three agree but I dont want to clutter up my screen too much. |
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| Author: | nanningbob [ Thu Sep 12, 2013 12:25 pm ] |
| Post subject: | Re: 10.4 A Complete System |
China continues to grow but at a slower pace. The areas where workers try to find day work are a little heavier than normal but not like 2008-early 2009. It fits well with the 7% growth rate China is now saying. What this means China wont be ordering as much material in the past but they still will which means to me the AUD will settle into a new range at some point. For the Aussies their economy should do well. Now that their dollar has come down I can look at buying some stuff from there since it will be cheaper than getting it from the USA. If the aud/usd stays below .90 then it is cheaper for me to buy from Australia and ship to China than the USA and ship to China. This is how currency evaluations work. If priced too high you can go somewhere else to buy products. The problem with China is they dont have to do full disclosures. For example over 50% of the stock market is State owned enterprises. This leads to several problems: 1. Most of them if not all need to do well for the Party to do well. So competition is not going to be promoted. Enough to say they have it but not enough to replace these gigantic corporations. It is why if I use Google for my search engine I can get one or two searches and then I get blank results, slow results, or just a blank screen, while if I use Baidu I can get immediate results but many times not what I am looking for. 2. The market will be crashed when the big boys want to collect and then they do a big build up when they start buying the stock all over again. To play the CHinese stock market is like playing Russian Roulette. It is just a matter of time before you cant get you stocks sold as price goes down. 3. If a Major Corp. is having problems they can be propped up by the local government where they have their factories. So they keep making product even though there is no market for it. They cut prices to unload merchandise and then they cut quality because they cant sell it for a profit. For example I have never had a Chinese cell phone last more than 3 months. I only buy certified foreign brands now. I live in a building that is over 30 years old and has no cracks in the walls. My school is located in a building that is 6 or 7 years old and there are cracks in the walls all over the place. I am out of this lease this year. Buildings down the road from me 8 years old look older than the one I am in now. They decay so rapidly. China will always be building I guess. I feel sorry for these folks because they pay cash for a brand new apartment in a building I doubt will make it to the 20 year mark. Anyway there are more people than normal out there but it is not serious at this point. |
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| Author: | nanningbob [ Thu Sep 12, 2013 2:56 pm ] |
| Post subject: | Re: 10.4 A Complete System |
Well, I have done 10.6 for exactly 4 weeks now, 20 days. It has been done in not the best of markets but we have pulled some good trades. 232 wins 78 losers 17.4% increase of my account in 20 days. 75% win rate 4680 pips Wasnt able to keep up the 1% a day average but I dont mind. If I can be anywhere close to those kind of results, I will be a very happy man. At some point between now and the end of the year I hope to completely revamp my booklets and post a final version. I dont see that I need to do mulch tinkering with what I have at this point. I think it pretty well cover any market condition and get you on the right side of the trade a majority of times. Now it is just a matter of developing the expertise to trade season in and season out. Anyways time for bed. With a workable Syrian compromise coming down the pipe it looks like the markets can get back to their usual rhythm again. Good luck. |
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