Disliked{quote} Hi Nukern OK I think I understand what you are saying?? But just to check my understanding, are you saying that there are plenty of CCI signals that don't work and how can we differentiate the good from the bad?? If that is your question then I have two answers for you, the first one is very easy... Only trade charts from the 5 minute top trender, top 4 maybe even just the top 2 to start with because you will find that most of the CCI turns back with the strong 5 minute trends work out fine on the top two trenders. Avoid entries like the...Ignored
About the signals. I really know why you'd picked CCI 8. Coz there's no doubt it's doing great job. I also have same way of thinkin about trades as you. Less time in a market less time something could go wrong.. Be after 10pips is a must. Sometimes it's hard coz price spikes. But that's the cost of the business I guess. I reviewed the market and filter possible trades with little room to BE, non levels or non S/R minor or major. And it's definitely better.
Now when I know about your fixed SL, I'd say anything more than 20 pips (aka 1:2) is really win in this strategy. So it does make sense when there are a lot of opportunities. 3 10sl trades could be easily compensate by 1 30 pips target. Ofc target should be defined by PA, levels, FIBO etc... I still trade more dax but this thing can be really cruel if you don't pay attention. So Strong trenders could be the way to go.
I found one trade which would be loss for me. This isn't exactly what I have in my mind but nevermind. I'll try to find somethings later. Mind you tell me if you would take it or not and reason? And for the record all others trade in this picture would be BE or profit. So I'd say screw the 10pips.(I'm not saying I will ) But I'd like to hear you opinion anyway.
Thank you very much for your comprehensive answer. I really appreciate it. Same as your words.