Do you mean this "W"?. It's possible it may have broken to the upside already.POH wrote:Word of warning for those trading EU, price is at a strong pivot point right now, has failed twice so far on the daily chart.
Or not
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| 10.3 SCALPER/RANGE TRADE SYSTEM https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=919 |
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| Author: | trjfx [ Tue Dec 04, 2012 10:15 pm ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Hi Bob, After reading your new post about 10.3 simple i noticed you made the comment about the ma's as far using them to enter. I am assuming you speak of a cross of the two for entry, could you please enlighten an exp. newbie pls. T |
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| Author: | nanningbob [ Wed Dec 05, 2012 1:33 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
It is an either or choice. Sometimes price has a high angle, then you want the 5.1, sometimes it is a low angle and the 10.0 gives you a better entrance. I have found that the DO EA, or 5.1, or 10.0 EA will give me the best entrance that I want. So you can choose between the 3 EAs or use the pending order within Empty4 to choose your entrances. However using pending orders does not create a magic number for the jump EA and MPTM EAs. |
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| Author: | nanningbob [ Wed Dec 05, 2012 1:46 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
I will submit Steve's wisdom on the matter. One of the reasons I left FF, in fact the only real reason was I simply could not comment anymore without a bunch of thugs following me around and messing up every thread I made a comment at. It simply got to the point it wasnt worth posting anymore except in my own threads where I could control the content. I agree with Steve on keeping with the subject at hand, even though I like a good debate now and then, he is right in keeping threads on topic. I dont know if Phil will or is allowed to post again but he had some insights that were intriguing. Using a hedge and CT trading is something I have always wanted to do but am not allowed with a USA broker. I may try a third foreign broker so I can work on some of these theories but that will have to wait until next year. Meanwhile Steve has my full support in this matter. Back to trading. |
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| Author: | trjfx [ Wed Dec 05, 2012 1:51 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Bob, Thank you for the prompt reply. I hope your trading is going well today, Sir. I am still learning your system, well not really, your system is easy, it is I. I have been using ea's to do everything for me. I have become a lazy thinker and i wish to thank you for posting a system so simple it is also complex, I am no longer a lazy thinker. Terry |
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| Author: | nanningbob [ Wed Dec 05, 2012 2:11 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
I use two kinds of EAs. One for entrances, and ones to manage the trade. This way I can set my trades up and then walk away from the computer. Emotionless trading. When I first started trading I used to stare at a screen only to go get a bite to eat and miss the trade, i also got headaches, and a very sedentary life. Now I set my EAs up twice or 3 times a day and go with what ever happens. I will intervene at times especially if I see a profit at my designated profit times. So that is how I trade, I　spend less than 5 minutes in actually trading each session but I will spend hours of studying charts. Even though I dont mention it I still use my 10.0 CT method when I use multiple levels in my trading, 10.2a in my long term trades and am having fun with my daily 10.3 trades. I occasionally use some of my 5.0 EAs when I see the right setups. It is not unusual for me to have 20-50 trades going on at a time. So I have several full lots in play but all divide into 10 or 20 cent lot sizes. So if the market moves against me it is easy to reduce positions and exposure by closing some trades or hedging using another pair against a pair going against me. 10.3 I use SL and moving SL but my long term trading I never use SL. So I often confuse the heck out of people when i talk about all this stuff. So EAs make my entrances and most of my trades I manually handle after that. |
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| Author: | POH [ Wed Dec 05, 2012 7:05 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Word of warning for those trading EU, price is at a strong pivot point right now, has failed twice so far on the daily chart. |
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| Author: | SWG123 [ Wed Dec 05, 2012 7:16 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Do you mean this "W"?. It's possible it may have broken to the upside already. Or not
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| Author: | POH [ Wed Dec 05, 2012 7:24 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Yeah that, also if you look back from jan-may it lingered around there.. I still entered a buy, but only on demo, I set a buy limit after WR2 and it just touched it and entered. Don't think I'd take it on real though before seeing it either break through or reverse. |
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| Author: | disbellj [ Wed Dec 05, 2012 9:23 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
Hey guys, just wanted everyone to know I've updated my weekly and daily pivot indicators, and gave detailed explanation for those that are interested (as well as the updates) on my website: http://www.tinyurl.com/disbellj Bob, I understand your frustration. Believe me. I'm sorry for getting frustrated with you earlier in the thread and yelling. This difference is why I have concentrated on what I making it a non-issue. I have found when I use the correct bar for week open on a broker, I get the correct week open price vs what Empty4 gives for week open price. A difference as large as 173 pips on a pair just using this first week of December. I also found that when I also use correct international daily open, together they achieve a 92.5% increase in accuracy across multiple traders/brokers vs using what Empty4 gives for weekly and daily open price. The supporting documentation, including multi-sheet Excel doc, is on my website. I created my indicators so that this can finally once and for all become a non-issue. Use my indicators and the problems pretty much go away. This is just my effort to help all traders. The Eastern Offset is retrieved twice. Once when initialized, and once in start when indicator sees broker time has changed from last tick (so broker is online). This uses literally almost no resources. Two calls to the web and then the offset is locked in. I see that using my updated AllPairs indicator, which I've added Phil's sell at R3, buy at S3 (haven't kept updated so there may be additional rules I'm not aware of), and see that I got a "PhilSell" (aka PS) on EURJPY. It looks like though that price went way above R3 where it sits now. I also added on my website my own setup, which includes my corrected Weekly and Daily Opens, Pivots, S/R, Trendlines (needs more work to add more trendlines I see I'm missing), Round Numbers (every 25 pips), Sessions (which I've changed to Eastern times and offset), News, and Big Price. I may have to update AllPairs to lessen the amount of for loops to a minimum, but there is literally nothing else I can see doing to speed it up more than I already have by optimizing code for creating labels seen on chart. Have fun. Enjoy! Kindest regards, Don |
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| Author: | disbellj [ Wed Dec 05, 2012 9:48 am ] |
| Post subject: | Re: 10.3 SCALPER/RANGE TRADE SYSTEM |
BTW, I will probably be adding Fibs too, but I draw them differently than using last day high and low. The way I was taught was: In an uptrend, I draw from lowest point to highest point for first Fibs. Then draw from next lowest point to highest point for second Fibs. Then look for confluence between the two and/or other indicators on existing setup. See pic attached. Note: Actually in the pic, I use a Semafor to draw the second Fib even though a lower low exists to the left of that which the trendlines were drawn with that should have been used. The point though is mainly that if an uptrend stays in top 38% then its a fit trend. When a trend is reversing, we would expect a 1-2-3 reversal pattern with a rally to the 62% Fib before a downtrend commences, per Ellitott (not big on Elliott simply because I have missed so many correct 1-2-3 patterns that pullback right to .618 by trying to count waves that I just really concentrate on what I've written in this paragraph. Kindest regards, Don |
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