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| 10.4 A Complete System https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=1481 |
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| Author: | nanningbob [ Mon Mar 04, 2013 1:14 am ] |
| Post subject: | Re: 10.4 A Complete System |
The new lines have not set up yet so you are a little early plus USD and CAD sessions doesnt open for 12 more hours so dont expect much movement between now and then. |
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| Author: | Wiggy1965 [ Mon Mar 04, 2013 1:27 am ] |
| Post subject: | Re: 10.4 A Complete System |
Allison, i don't see a 10.4 setup for this USDCAD pair....There was a long setup from mid last week, but nothing since....If you are taking the trade based on you belief the price will go to previous high, then you may well be right, however i don't believe it is a 10.4 trade... There are other trades that conform to the 10.4 rules, CADJPY at break of Weekly Pivot around the 90.672 mark and or ADUJPY break of weekly again....The second trade, Steve may not take due to proximity to MA, however Bob may take it, but just place stop above MA at one of the other resistance levels....I'm not sure which approach I'll take with this, i may stay with the MA or just above, due to the number of bounces off the 95.550 level last week.....I think it is a low risk trade.... Reading through the posts over the last week, i can see a number of people are trying to force trades in to the 10.4 rule set when they are not quite there yet, mostly early....I also see a number of people mentioning that they are flat of taken a small loss for the week....I have only taken the 100% compliant 10.4 trades that were there and did over 450 pips for the week.........I also closed many pending order as there was so much choice....That 450 pips could have been wiped out with one of two trades poor 10.4 entry's that stop out....So, in relation to the rules, i believe, if you follow them, then you will minimize the 1 or 2 bad trades that take you from a good week to an average or bad week.... So, in summary, don't force a trade, let it come to you... Regards Wiggy |
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| Author: | nanningbob [ Mon Mar 04, 2013 1:46 am ] |
| Post subject: | Re: 10.4 A Complete System |
Thanks for sharing and please post some trades as you see them. This will help others to trade within the system. I cant always do that with my schedule. Do you know how many traders would kill to make 450 pips in one week? Good job. |
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| Author: | cmeade2 [ Mon Mar 04, 2013 1:59 am ] |
| Post subject: | Re: 10.4 A Complete System |
Allison In my view now is the time to go long. cmeade2
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| Author: | VirtualFM [ Mon Mar 04, 2013 1:59 am ] |
| Post subject: | Re: 10.4 A Complete System |
Oh, I can make 450 pips in one week without even starting to sweat! The problem is that I will probably have 1500 pips in drawdown and will loose 1000 of those! |
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| Author: | mjws00 [ Mon Mar 04, 2013 3:08 am ] |
| Post subject: | Re: 10.4 A Complete System |
USDCAD set up on the stoch template. It isn't there on the rsi template. The stoch version isn't really an update or upgrade. It reduces system loads. It gives more signals, but they aren't necessarily as strong. I haven't studied it to see if it does a better job at coming down early to set pendings. Maybe... but I doubt it. Just relax and hang in there. This system integrates nicely into the experiences many already have. So they are doing well with it quickly. It will take more time for others. I know you had time to play in the sim... it takes a while to figure out the A+ trades. Mike |
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| Author: | Wiggy1965 [ Mon Mar 04, 2013 3:10 am ] |
| Post subject: | Re: 10.4 A Complete System |
Allisonmagic, I can see your using the v2 of the template, which includes the Stochastic....I prefer v1 of the template that includes the SRI.....Version 1 of the template (RSI) is not showing and entry for CAD, however i can see why you may enter using version 2 (Stochastic) as you have had a brief bottom out of the Stochastic.... There has been a lot of conversation over the last two weeks about these indicators and what behavior to look for, for an entry....and i think most agree (well i do) some period of flattening at the top or the bottom of the indi before you look to place you pending orders....you can see this at work on the CAD chart last week.....It does not always work, you can see about 5 weeks ago around 29-30th JAN.....Having said "that it does not always work" if you took that trade you would still be in it as you have not been stopped out, you may have also entered 3 times at the Weekly Pivot (second trade) and Weekly Sup 1 Pivot (third trade), and although your third would have got stopped out for about 8pip loss, your first trade from the Weekly Sup1 pivot would be up 209 pips and the second trade Weekly Pivot 355 pips....you could also still be in another 3 or 4 trades over the last 5 weeks depending depending on your risk appetite....however, there should be no risk as the first two should be a break even, so therefore free trades = no risk.... So, based on the Version 2 template, there is an entry, however most people on here (i think) would say it's not quite ready to trade and is best to wait for it to come to you.... There are less riskier trades on offer..... Regards Wiggy |
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| Author: | Wiggy1965 [ Mon Mar 04, 2013 3:12 am ] |
| Post subject: | Re: 10.4 A Complete System |
Thanks Mike, I just picked that up.... Wiggy |
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| Author: | Ray Singcar [ Mon Mar 04, 2013 3:21 am ] |
| Post subject: | Re: 10.4 A Complete System |
It is also very close to strong resistance. That would keep me out of a pending orde |
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| Author: | Foreverforex [ Mon Mar 04, 2013 4:06 am ] |
| Post subject: | Re: 10.4 A Complete System |
my stoch isnt flatlined, has bounced up, not valid on my crim. |
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