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| 10.4 A Complete System https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481 |
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| Author: | drg [ Tue Oct 01, 2013 2:40 am ] |
| Post subject: | Re: 10.4 A Complete System |
Hi there! Thanks Bob, you're the man! I want to start demoing this but I've got a silly question regarding the sto for anyone who can help: 1 - After a sto cross we put our pending trades, then when the sto reverts back do we still keep the pending's? Maybe I'm just overcomplicating, but this is bugging the hell out of me! How do we decide that our pendings are no good? Sorry if I'm being extra dense but I couldn't figure it out on my own, thanks in advance! |
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| Author: | coolsnake [ Tue Oct 01, 2013 2:51 am ] |
| Post subject: | Re: 10.4 A Complete System |
Dear Nanningbob, I am still learning how to trade with 10.6 system. I have one question regarding the STO7 warnings. What does mean "REVERSAL BUYTREND" and "REVERSAL SELLTREND"? "REVERSAL BUYTREND" means Reversal trend or just retracement? "REVERSAL SELLTREND" means Reveral of trend or just pullback? How do we trade on these two signals? Thanks. |
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| Author: | nanningbob [ Tue Oct 01, 2013 3:18 am ] |
| Post subject: | Re: 10.4 A Complete System |
That is what it says when you get a signal inside the 60MA and 240MA. It has been in a sell trend and now could be in reversal/range mode. The trend is over. How you trade inside this area should be determined by the CSS or fundamentals. For example you should be getting a lot of these kind of signals from the NZD. The CSS is showing it is angling down sharply and showing that the UT it was on is done for now. So it is in the range-reversal area. If it continues down it will then enter back into a DT when it crosses back below the 240 line. The best example is the aud/jpy right now. It touched the 60 line 2 weeks ago and has been in it range area since. It is now playing with the 240 line eager (I hope) to go into a DT. So that is what you look for. See pic below, aud/jpy should be giving reversal buy trend signal now and hopefully in the future sell trend. |
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| Author: | yamez [ Tue Oct 01, 2013 3:37 am ] |
| Post subject: | Re: 10.4 A Complete System |
The TCO Trader EA may do the job. 2 x MA for trend TF, entry TF are adjustable and STO can be used for entry. http://www.stevehopwoodforex.com/phpBB3 ... f=5&t=2458 |
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| Author: | estherheng [ Tue Oct 01, 2013 10:15 am ] |
| Post subject: | Re: 10.4 A Complete System |
hi bob, thanks for the detailed explanation. saved me the time of looking at all the posts. may the pips be with you ! sincerely, esther |
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| Author: | art [ Tue Oct 01, 2013 12:21 pm ] |
| Post subject: | Re: 10.4 A Complete System |
hi bob haven't posted for a while great stuff as always, whats your take on the jpy bond auction, which you say happens about this time |
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| Author: | nicoacademia [ Tue Oct 01, 2013 1:36 pm ] |
| Post subject: | Re: 10.4 A Complete System |
ever wonder why the market always plays games with your idea of it? a challenge to always stick to your game plan? news tugging you in all directions? i had some time to read an interesting book and this line stood out so much for me. "It's more important to be unpredictable in poker than it is to always have a sound mathematical reason for your actions." Aaron Brown in The Poker Face of Wall Street i keep this short so that line can resonate(if it does) with you. for more detailed explanation... http://books.google.com.sg/books?id=lFl ... le&f=false the way the explanation is laid out is how big big funds think of price levels. if support is there then resistence is here then...etc etc. risk reward calculations etc etc |
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| Author: | nanningbob [ Tue Oct 01, 2013 1:55 pm ] |
| Post subject: | Re: 10.4 A Complete System |
Price goes with the strongest fundamental at play for the moment. JPY sells about the same amount every month, it is a steady long term project. The problem this month is the USA Congress and their mess with the budget, that is both the passing of the continuing resolution and the debt ceiling. Both of them are back to back. If the Congress and President get into a pissing match, which they are, then even with the JPY sells more people will buy JPY as security versus the dollar. They look at it as a safe haven. SOOOOOOOOOOOO ............ I dont know what to expect until the Dems and Republicans duke it out. The longer they go at it the messier it will get and the more volatile the markets will get. So I cannot guarantee the usual monthly JPY sell run until this stuff plays out. My personal feelings are the Republicans are being idiots, they are fighting a fight they cannot win and the longer it goes the more they will get blamed for the mess. The President isnt going to give in on Obama Care, that is his legacy and he would become a laughing stock president if he ever gave in. He has the Senate and the veto pen, the Republicans cant win this and dont have a chance. The President however, can make them look really, really bad the longer this goes. If the Republicans keep this up and the American people get sick of it they will get clobbered in next years elections and we will have the Dems in complete control for the last 2 years of Obama's presidency. Because of their obstinance he will cram everything he can down their throats and there wont be a dang thing they can do about it. Then if the economy picks up, which it will with the USA becoming #1 in the world in producing oil and gas, they will get clobbered again in 2016 very badly. The Dems will be able to take the credit by saying, "see what happened after we got the big fat Elephant out of the way. I consider this group of Republicans some of the dumbest strategists I have seen. Sorry for the rant but this whole thing is crap. |
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| Author: | art [ Tue Oct 01, 2013 2:02 pm ] |
| Post subject: | Re: 10.4 A Complete System |
good analysis bob, thanks for that, one good thing we have in the uk is the national health system, it gets abused, but i would hate to be ill in the states without medical insurance |
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| Author: | nanningbob [ Tue Oct 01, 2013 2:20 pm ] |
| Post subject: | Re: 10.4 A Complete System |
I like to play a friendly game of poker and that article is very good about poker but Forex is businesses and governments exchanging funds. It is unpredictable because there is no control when Saudi Arabia cashes its checks for oil, Australia cashes its checks for Uranium, New Zealand cashes its checks for wool and cheese, and China cashes its checks for exported goods, and Germany cashes its checks for Audis and Volkswagens, and Japan cashes its checks for computer equipment, etc etc on and on. That is why traders get their brains beat in because they wont let the market breath. There is no pattern, or indie or fundamental that covers Russia exchanging gas for Euros, or USD at any moment of any time. I have told this story before and I will tell it again. I remember a bad news story came out for the GBP and I went big into the trade. I said this is going to run. It did for about two hours and I was up up up. Little did I know nor could I know that the Bank of India and British Petroleum decided it was time to prop up the GBP. So they slammed everyone by buying big and my profit disappeared in minutes. Didnt know about it until the next day what had happened. Some people will run around and say the conspirators did this or the fox did that or the broker had to cover his negative positions and all sorts of other crap. Had nothing to do with it. Companies, govt., banks have a vested interest of keeping prices stable and within a certain range. Everytime there is an exchange around the world in this 4-6 Trillion dollar daily business price is going to tick up or down and there is no predicting General Motors cashing their check from their 1000 truck sale to France. Last week the USD announced we are not tapering. The market reacted and SL were hit all over the place. I didnt have any SL hit because I know there was no fundamental change in what price had been doing. All the USD trades came back to the original starting point except eur/usd and the usd/chf within a day or two, but eur and chf had been strengthening anyways so that is no surprise. Long term trends can be seen on higher end charts. However, anything can happen at any moment at any time for just normal business transactions. Just the way it is. |
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