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Nb 10.0 trend trading system

  • #3,041
  • Jun 25, 2012 10:26am Jun 25, 2012 10:26am
Bob,

I really like your system but the only thing I still do not have handle on is the retracement piece.
On Thursday, I looked at D1 slopes and chose the ones over 0.4 or below -0.4 and then on H4 looked for ones matching the D1 slopes. Took trades on cross of pivot or important levels. For those ranging on H4 I waited for retracement to complete and took the trades on H1 chart with same cross of MA lines or key levels. All in Red this morning and closed with loss of 500 pips i.e. around 3% of my account. Small lot size saved me $$$$$ but still need to learn the system more.

Pairs are not important here as my question is more on system then individual trades.

Here is my question:
I am not sure when to cut losses and close trades. What did I not do when triggering trades? Should have closed them last night when all opened on wrong side of DP or on Friday close when they had some green pips (around 200) or when? How do you manage days like today when all are moving in wrong direction.

Your advice here would be gem.
  • #3,042
  • Jun 25, 2012 10:30am Jun 25, 2012 10:30am
Exactly same method as you Ripper and I am sweating all Red PipBlood today morning.... let me know if you find the info on retracements... seems all the lil pips i had earner on last few weeks have been ripped of me

Quoting forexripper
Bob,

I really like your system but the only thing I still do not have handle on is the retracement piece.
On Thursday, I looked at D1 slopes and chose the ones over 0.4 or below -0.4 and then on H4 looked for ones matching the D1 slopes. Took trades on cross of pivot or important levels. For those ranging on H4 I waited for retracement to complete and took the trades on H1 chart with same cross of MA lines or key levels. All in Red this morning and closed with loss of 500 pips i.e. around 3% of my account. Small lot size saved me $$$$$ but still...
  • #3,043
  • Jun 25, 2012 11:22am Jun 25, 2012 11:22am
Quoting forexripper
All in Red this morning and closed with loss of 500 pips i.e. around 3% of my account. Small lot size saved me $$$$$ but still need to learn the system more.
Thanks guys, I really appreciate honest comments I have been about breakeven myself since the last 3 weeks. I will only trade when both D1 and H4 slope confirm it. It is what I have tested. I don't trade range, not yet....
Riding the order flow
  • #3,044
  • Jun 25, 2012 11:51am Jun 25, 2012 11:51am
I have open trades that I opened last week and I will close them each for a modest loss as soon as slope drops below .4 on the daily, which is well above my original stop loss. If slope stays above .4, I will keep them open to see what happens with the retraces. As I look at my charts, I see ranging patterns for most pairs so I somewhat expect to close my open positions today.
  • #3,045
  • Jun 25, 2012 12:33pm Jun 25, 2012 12:33pm
Binyamin,
Are you saying that it's much better to enter Trades on when the D1 Slope and the H4 Slope Histograms are both saying the same thing as in Buy only which is the Green Icon thing and Sell Only which is the Red Icon wording on the TMA Slope Indicator, I tried that style mid week last week and I had SUCCESS when I tried any other way I got burnt a little bit..

Let's know your thoughts on this one and maybe just maybe we can ask Kelisa and Jemook before we ask Nanningbob and he shoot's our heads off for not understanding fully what he has tried to teach us.

One Luv
xrismak
  • #3,046
  • Jun 25, 2012 1:22pm Jun 25, 2012 1:22pm
Quoting xrismak
Binyamin,
Are you saying that it's much better to enter Trades on when the D1 Slope and the H4 Slope Histograms are both saying the same thing as in Buy only which is the Green Icon thing and Sell Only which is the Red Icon wording on the TMA Slope Indicator, I tried that style mid week last week and I had SUCCESS when I tried any other way I got burnt a little bit..

Let's know your thoughts on this one and maybe just maybe we can ask Kelisa and Jemook before we ask Nanningbob and he shoot's our heads off for not understanding fully what he has...
I did a backtest not too long ago on the concept you just described
http://www.forexfactory.com/showthre...71#post5738071

So maybe the method do have some legs.

While backtesting I notice that having a large enough SL gives a good edge. I also feel that exiting a second trade when the slope goes in between 0.4, -0.4 is also a good edge from my backtest....
Riding the order flow
  • #3,047
  • Jun 25, 2012 1:40pm Jun 25, 2012 1:40pm
Forexripper,

Guess what , I just found out, there is a 10.2 for Dummies @ steve Hopwood's thread, you and I can ask the Dumbest Questions there and ain't nobody going to take off our Heads, I will pm you the URL.
  • #3,048
  • Jun 25, 2012 1:44pm Jun 25, 2012 1:44pm
I did a backtest not too long ago on the concept you just described
http://www.forexfactory.com/showthre...71#post5738071

So maybe the method do have some legs.

While backtesting I notice that having a large enough SL gives a good edge. I also feel that exiting a second trade when the slope goes in between 0.4, -0.4 is also a good edge from my backtest....
__________________
Market liquidity provider


Binyamin,

I thought as much, that was the way I went mid last week and I was jumping up and Down in my work Space for Joy because the Pips kept tumblimg in... my 8 year old Daughter thought I had hit the Jackpot on the Euro-Millions Lottery
  • #3,049
  • Jun 25, 2012 2:02pm Jun 25, 2012 2:02pm
Quoting xrismak
I did a backtest not too long ago on the concept you just described
http://www.forexfactory.com/showthre...71#post5738071

So maybe the method do have some legs.

While backtesting I notice that having a large enough SL gives a good edge. I also feel that exiting a second trade when the slope goes in between 0.4, -0.4 is also a good edge from my backtest....
__________________
Market liquidity provider


Binyamin,

I thought as much, that was the way I went mid last week and I was jumping up and Down in my work Space for Joy because...
What I have noticed by demo and now live trading with this method is
1)there will be 2 or max 3 days when the pair will trade in direction of the D1 slope. So we should (including me) wait for such days instead of just trading everyday.
2) Retracements happen and as described by Jemook we need to wait for it to get over but I will add that if you had 2-3 good pip days then leave the pair for the rest of the week and look elsewhere or may be CT. See last week and before.
3) if you are still waiting for the pair to trade in direction of D1 then waiting till Friday may also not be a good thing. I am thinking of not taking trades on Friday as you never know. If the trend is strong then even getting in on Monday should be fine.
  • #3,050
  • Jun 25, 2012 2:04pm Jun 25, 2012 2:04pm
guys did u also notice that the initial gurus and the man himself "NNBob" no longer post here that frequently. All are busy talking about the system on stevehopwood's site. So I suggest instead of wasting time here, we should all be there to learn from them. I have joined them and hope you all too soon.
  • #3,051
  • Jun 25, 2012 2:08pm Jun 25, 2012 2:08pm
What I have noticed by demo and now live trading with this method is
1)there will be 2 or max 3 days when the pair will trade in direction of the D1 slope. So we should (including me) wait for such days instead of just trading everyday.
2) Retracements happen and as described by Jemook we need to wait for it to get over but I will add that if you had 2-3 good pip days then leave the pair for the rest of the week and look elsewhere or may be CT. See last week and before.
3) if you are still waiting for the pair to trade in direction of D1 then waiting till Friday may also not be a good thing. I am thinking of not taking trades on Friday as you never know. If the trend is strong then even getting in on Monday should be fine.


Forex Ripper,
You are Spot On, some of the Above points you have mentioned are like exactly what I have Discovered also within the last 4 weeks of looking at and trading the system but I thought I was doing something wrong hence the reason why I had called myself a Newbe....
  • #3,052
  • Jun 25, 2012 2:13pm Jun 25, 2012 2:13pm
gurus are gone
guys did u also notice that the initial gurus and the man himself "NNBob" no longer post here that frequently. All are busy talking about the system on stevehopwood's site. So I suggest instead of wasting time here, we should all be there to learn from them. I have joined them and hope you all too soon.


Forex Ripper,
I told you, most of em are Busy learning how to Tweak and trade Jemook's adaptation of the 10.2 for Basket Trades, I'd go there if I were you so that we can all learn something and ask as Many Questions as we feel need answers..
  • #3,053
  • Jun 25, 2012 2:18pm Jun 25, 2012 2:18pm
Quoting xrismak
gurus are gone
guys did u also notice that the initial gurus and the man himself "NNBob" no longer post here that frequently. All are busy talking about the system on stevehopwood's site. So I suggest instead of wasting time here, we should all be there to learn from them. I have joined them and hope you all too soon.


Forex Ripper,
I told you, most of em are Busy learning how to Tweak and trade Jemook's adaptation of the 10.2 for Basket Trades, I'd go there if I were you so that we can all learn something and ask as Many Questions as we feel...
yes I am there already and have so far learnt and asked questions too. I just wanted others to know that this thread is of no use anymore and only good for those who are just starting so they can understand the basics and then should move on to steve site but beware there is no tolerance for BS so better grasp the basics before moving.
  • #3,054
  • Jun 25, 2012 2:24pm Jun 25, 2012 2:24pm
Ok guys,

AUDNZD setup is ready for us now with D1 and H4 both showing short signals and > -0.4 values. DP is < WP < MP. Also, AUD lost more slope value that NZD today.

I will now wait for price rejection at either WP, DP, or Open for the week line. It will all depend on how strong the rejection is and what other pairs are doing (and also if I am not sleeping that time). I will short it soon but not Friday. I see some rejection at 1.2740 but lets wait and watch.

For other pairs I think I will wait for trend to resume which I am guessing Wed or Thurs and will trade till end of Fri (not take trade on Fri but if taken on Wed or Thurs then ride it till Fri London close or NY close)
  • #3,055
  • Jun 25, 2012 5:37pm Jun 25, 2012 5:37pm
Quoting forexripper
Bob,

I really like your system but the only thing I still do not have handle on is the retracement piece.
On Thursday, I looked at D1 slopes and chose the ones over 0.4 or below -0.4 and then on H4 looked for ones matching the D1 slopes. Took trades on cross of pivot or important levels. For those ranging on H4 I waited for retracement to complete and took the trades on H1 chart with same cross of MA lines or key levels. All in Red this morning and closed with loss of 500 pips i.e. around 3% of my account. Small lot size saved me $$$$$ but still...
Read the booklets again and you will have your answers. You have not yet grasped the system in my view.
Pursuit of happiness
  • #3,056
  • Jun 25, 2012 9:28pm Jun 25, 2012 9:28pm
I think we have to be very aware as to the relationship of price to the ma5(1) on the daily chart so as to avoid the damage of retrace.

Whatever ideas we have to prevent the damage, we should be adding to the thread so that we all can improve and perhaps ea can be changed to reflect some improvements.
  • #3,057
  • Jun 25, 2012 9:59pm Jun 25, 2012 9:59pm
The only problem with moving to Steve's sight is there are lots of subsights which can confuse you. I wrote a post earlier that I am taking a break but I still monitor this sight. If you have questions I will try to answer them.
  • #3,058
  • Jun 25, 2012 10:07pm Jun 25, 2012 10:07pm
This is an updated version of the histograms. This should solve the Sunday bar issue that some brokers who dont have them. 6.26 update.
Attached File(s)
File Type: zip 6.26 WOH.zip   7 KB | 864 downloads
  • #3,059
  • Jun 26, 2012 12:41am Jun 26, 2012 12:41am
Quoting xrismak
Hi Erebus,
I just managed to figure out one last thing that you can do for us here with this TMA Slope Indicator Histogram, It will just make it almost perfect.
Please can you kindly Tweak it so that we can have the Lines showing, I know it involves a bit of Hard work on your path and it might kind of take you away from your Very Busy Trading Money Minting Schedule but we or rather those that will Benefit from your efforts will be forever grateful for your Additional Good work to Enhance the Quality of the 10.2 System..
Please see the...
I think you mean LEVELS to show the 0.4 and 0.8 ?

You should be able to set the color of your choice in the Indicator settings and that should stay for you; try that.

Attached Image (click to enlarge)
Click to Enlarge Name: 0007.png Size: 194 KB
It takes a lot for me to IGNORE you, but you can try.
  • #3,060
  • Jun 26, 2012 8:29am Jun 26, 2012 8:29am
Quoting Blaiserboy
I think we have to be very aware as to the relationship of price to the ma5(1) on the daily chart so as to avoid the damage of retrace.

Whatever ideas we have to prevent the damage, we should be adding to the thread so that we all can improve and perhaps ea can be changed to reflect some improvements.
Excellent reminder. Thanks. I think I was missing this link.
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