i think it works on all timeframes, although i did not test it thoroughly, because the trading opportunities on higher timeframes are extremely rare, on 4h i only got about 1-2 valid signals a month. I use another technique on higher timeframes to generate much more opportunities, but for people with a busy schedule, it still might be worth to backtest the higher tfs, the principles work anywhere/time.
- Joined Jul 2010 | Status: Great hopes make great men | 2,029 Posts
Hi Guys Happy New Year to you all may it be a prosperous New Year trading. Sorry I have been absent for so long but since we created our "Feel The Force" trading room I've spent my spare time in there with some fellow traders having fun and trading as we go. Trading can be a lonely game so its nice having some like minded traders for company and to bounce ideas off of etc. One of the things we have recently started doing is posting videos to help each other understanding our strategies , even recording "live" trading sessions to help each other...
Low Risk Low Stress High Reward High Probability Trades
Hi Guys Happy New Year to you all may it be a prosperous New Year trading. Sorry I have been absent for so long but since we created our "Feel The Force" trading room I've spent my spare time in there with some fellow traders having fun and trading as we go. Trading can be a lonely game so its nice having some like minded traders for company and to bounce ideas off of etc. One of the things we have recently started doing is posting videos to help each other understanding our strategies , even recording "live" trading sessions to help each other...
Your entry method is interesting, i will do some backtesting and check it out. Might solve my problem with too few trading opportunities xD
Edit: Very well, i did some testing, and it is incredibly good, lots of trading opportunities, great reward, and in combination with a range breakout strategy to filter out many of the bad trades (i don't like to jump into every single Color change), highly accurate. If further testing confirms what i saw so far, this will replace my previous system. Great work Clive
- Joined Nov 2010 | Status: Trader | 4,562 Posts
{quote} Your entry method is interesting, i will do some backtesting and check it out. Might solve my problem with too few trading opportunities xD Edit: Very well, i did some testing, and it is incredibly good, lots of trading opportunities, great reward, and in combination with a range breakout strategy to filter out many of the bad trades (i don't like to jump into every single Color change), highly accurate. If further testing confirms what i saw so far, this will replace my previous system. Great work Clive
thanks for your comments , I am intrigued by your comments of filtering by a range breakout strategy, please explain how you are using this filter?
I am very interested in any filter that will filter out bad trades on a consistant basis.
many thanks Clive...
By the way would you like to join our room I think you would like it , we are developing a good screen recording system that allows traders to pass on their thoughts very clearly..
All the best Clive
Feel the Fear and do it anyway!!!
{quote} Hi Bernardi thanks for your comments , I am intrigued by your comments of filtering by a range breakout strategy, please explain how you are using this filter? I am very interested in any filter that will filter out bad trades on a consistant basis. many thanks Clive... By the way would you like to join our room I think you would like it , we are developing a good screen recording system that allows traders to pass on their thoughts very clearly.. All the best Clive
A range usually is some king of sideways trend with no new Highs or Lows, while price is touching the previous top and bottom and bouncing in between for a while.
Many times, this is happening when the MA is changing the color, or goes flat. If that happens, we probably have a range.
If you spotted previous ranges, it is very likely that there is Support or Resistance, ranges also tend to happen at SR Levels.
The definition of a range actually is not important, drawing them in "correctly" will come with some practice, and there really is no RIGHT way to draw them.
So lets say you found a range, like the two on this picture: (ignore the green lines)
Obviously, that would be a live situation, and the current range would not be broken yet. Now, i am still following clives entry rules while we are inside of the range, as if the range would not exist, with one little tweak:
When i get a valid signal based on clives rules, i will wait for a break 1 pip above/below the range, so not only the signal candle, but also the range has to be broken, before i take the trade.
Basically, the original rules apply, unless there is a range... Then, the Candle AND the range has to be broken.
Hi Clive
Grate thread! I've spent the last week working my way through it (I may have skimmed some bits) and seen all the updates to the strategy.
I particularly liked the range bars with the 10lwma. the charts looked so simple to read and the trade opportunities were so obvious all of a sudden, they are just smacking you in the face!
I've been back testing and testing and I don't want to be the guy who says I was thinking the same thing but I was pretty much thinking the same thing!!!
its grate to know that I was coming to the same kind of conclusion as the master himself.
I'm wondering though, why have you dropped the range bars? I feel they cut out so much of the noise of the minuet charts and keep it simple
here is todays EU from London open to just after NY open
my entry rules are slightly different to yours. I enter long if the ma has changed to blue and as soon as a candle closes above it I'm in (stop loss no more than 10 or previous low). the trade is then held until the ma has changed to red and a candle has closed below it. at the same time a short is opened and this keeps going until the session is over.
there are lots of trades here and the big wins outweigh the tiny losses.
but here is the same chart with 5 tick range bars and the 10lwma and you see straight away its so much easier to follow.
fewer trades but actually would end the session with more pips in your pocket using the same entry and exit rules and re enter rules and your looking at 90 to 100 pips there depending how quickly you caught the bars closing the other side of a colour change.
please don't get me wrong. I think your strategy is amazing, so much power in simplicity. this is just my spin on it.
thank you for all your hard work and turning me on to such a profitable strategy.
Grate thread! I've spent the last week working my way through it (I may have skimmed some bits) and seen all the updates to the strategy.
I particularly liked the range bars with the 10lwma. the charts looked so simple to read and the trade opportunities were so obvious all of a sudden, they are just smacking you in the face!
I've been back testing and testing and I don't want to be the guy who says I was thinking the same thing but I was pretty much thinking the same thing!!!
its grate to know that I was coming to the same kind of conclusion as the master himself.
I'm wondering though, why have you dropped the range bars? I feel they cut out so much of the noise of the minuet charts and keep it simple
here is todays EU from London open to just after NY open
my entry rules are slightly different to yours. I enter long if the ma has changed to blue and as soon as a candle closes above it I'm in (stop loss no more than 10 or previous low). the trade is then held until the ma has changed to red and a candle has closed below it. at the same time a short is opened and this keeps going until the session is over.
there are lots of trades here and the big wins outweigh the tiny losses.
but here is the same chart with 5 tick range bars and the 10lwma and you see straight away its so much easier to follow.
fewer trades but actually would end the session with more pips in your pocket using the same entry and exit rules and re enter rules and your looking at 90 to 100 pips there depending how quickly you caught the bars closing the other side of a colour change.
please don't get me wrong. I think your strategy is amazing, so much power in simplicity. this is just my spin on it.
thank you for all your hard work and turning me on to such a profitable strategy.