Trading is as simple as ABCD | Page 563 | Forex Factory

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Trading is as simple as ABCD

  • #11,241
  • Jun 19, 2017 2:42am Jun 19, 2017 2:42am
Quoting jjwint
{quote} Greed is good. Michael Douglas says so. Actually, Ivan Boesky was the inspiration for that line. {quote} But you have to control your greed. Every guru tells you to exercise self-control. But few ever explain where. I believe you have to exercise the most self-control over your expectations . . . how much you take out of each trade. Control that then add a solid, robust system like the one Clive uses and you'll be unstoppable.
And just to echo my good friend JJwints words here is my entire trading for this morning aiming for my personal 35 pips target per session....

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As you can see take your entries manage the trade and as soon as it looks a bit toppy just GTFO and wait for your next setup...

45 minutes work for the day and I'm done....
Feel the Fear and do it anyway!!!
  • #11,242
  • Jun 19, 2017 1:07pm Jun 19, 2017 1:07pm
Hi Clive,
Been taking quite a time reading the thread. After 10 pages decided to jump to 416, but it seem to me that changes have taken place along the way that are important. I like system and your tenacity in staying in for the long run. It now seems your reaping your reward Good for you!! I 'd like to join in but as time is limited where would be the place to start, your advice would be welcome.
What is "TTinty" and where do I find it along with any indicators you use that are not available on the standard mt4 platform.

Regards
Allonso
  • #11,243
  • Jun 26, 2017 7:09am Jun 26, 2017 7:09am
@Clivepackham

Hi Clive,
I am still trading the 5 RB and 1050 Lwma - here is today's group ( I keep the charts for stats).
Hope you are doing well with your trading of Dax.
Regards
T.
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every Saint has a past. Every Sinner has a Future
  • #11,244
  • Jun 26, 2017 9:42pm Jun 26, 2017 9:42pm
If you super-impose a 10-50 LWMA on top of the 8-34 EMA you'll find that they're almost identical.

I mention that because the 8-34 EMA has become a sort of "standard" over the past 5-6 years . . . seems to me anyway.

Jumping on the resumption of a trend for one reason, while someone else jumps on it for another reason = profit$$$$$$

Always helps to know what the other guys are thinking . . . . .
  • #11,245
  • Jun 28, 2017 8:06am Jun 28, 2017 8:06am
Quoting allonso
I 'd like to join in but as time is limited where would be the place to start, your advice would be welcome. Regards Allonso
I'll give you my two cents since I was in the same boat not too long ago.

I found that the advice given at the very beginning is 100% accurate:

Quote
****Just to let you know theres been some changes made to this strategy so please read this post first but then feel free to jump to page 416 post 8309
Quote
http://www.forexfactory.com/showthread.php?p=8458835#post8458835 where the current version resides.

The earlier post are fine and tell the story of how I found my way but the basic strategy is on page 416 ****

Latest
Quote
...



This piece of advice on post 8312 is hard to beat

Quote
gonna take first two CCI signals after slope change get to BE and hold on 35 lwma slope changes....


That really is the essence of any good trend-following system. You get in early, you take the first 1-2 entries and you hang on until the trend changes.

Finally, to me, the very best thing that Clive has illustrated is NOT the 35 LWMA/8 CCI method . . . which is pretty darn good.

It's that you need to find the strongest trending markets to trade in.

You tie that in with the idea expressed in post 8312 and you'll have as good or better a system as is available "out there."

And it's F-R-E-E.
  • #11,246
  • Jun 28, 2017 9:21am Jun 28, 2017 9:21am
What is "TTinty" and where do I find it along with any indicators you use that are not available on the standard mt4 platform.

Regards
Allonso

Hi Allonso,
It is Clive's indi for finding the Top Trending pairs. You will find it in post 9,001. The other indies are in posts 8,898 and 8,899. Posts of Clive's that are a must read are imo 8,891. 8,898. 8,899. 9,001. One on entries 8,353, and I think the latest update is 9,732.
Best of luck.
Galatians VI As you sow so shall you reap.
  • #11,247
  • Edited 3:35pm Jun 29, 2017 12:13pm | Edited 3:35pm
Some food for thought. Long weekend coming up here in the US so I thought I'd post an idea to keep your mind occupied . . . . .

Anyone reading this Thread would see that Clive is actually a working trader . . . someone who clocks in, takes some money out of the market and goes about his business. The question is why? Why do some do that and some don't? I will try to give you a personal answer to that (in other words, based on my experience) . . . but I'll do it using Clive's words.

Check out page 418, Post Number 8353.

Focus on entry #2 . . . THE LOSER. His reaction is what separates actual traders from non-traders. When you can learn to take a system . . . any system . . . and accept Loss as part of the game and work it into your numbers, then you'll be able to return to that system again and again and again. And it's by settling on one system . . . even a not-so-good system . . . that you'll understand market action.

If your first instinct, on the other hand, is to add something to avoid taking that loss . . . well, you've just created a whole new system, right? But guess what . . . chances are you won't stick with that one either.

So if you're a System Change-Aholic . . . you have to do what all addicts do. Accept your addiction and fight it. That was my experience.
  • #11,248
  • Jun 29, 2017 8:01pm Jun 29, 2017 8:01pm
Quoting jjwint
Some food for thought. Long weekend coming up here in the US so I thought I'd post an idea to keep your mind occupied . . . . . Anyone reading this Thread would see that Clive is actually a working trader . . . someone who clocks in, takes some money out of the market and goes about his business. The question is why? Why do some do that and some don't? I will try to give you a personal answer to that (in other words, based on my experience) . . . but I'll do it using Clive's words. Check out page 418, Post Number 8353. Focus on entry #2 . . . THE...
GREAT post
  • #11,249
  • Jul 9, 2017 11:50am Jul 9, 2017 11:50am
Just for the record, the HMA on the TTindy is working good on the new broker FxChoice that I'm using.
  • #11,250
  • Jul 17, 2017 3:30am Jul 17, 2017 3:30am
Thanks Clive, the trade manager works really well. Cheers.
  • #11,251
  • Jul 17, 2017 3:47am Jul 17, 2017 3:47am
Quoting jjwint
Some food for thought. Long weekend coming up here in the US so I thought I'd post an idea to keep your mind occupied . . . . . Anyone reading this Thread would see that Clive is actually a working trader . . . someone who clocks in, takes some money out of the market and goes about his business. The question is why? Why do some do that and some don't? I will try to give you a personal answer to that (in other words, based on my experience) . . . but I'll do it using Clive's words. Check out page 418, Post Number 8353. Focus on entry #2 . . . THE...
It might be due to the fact that us human beings are by nature loss-averse. This tendency served our ancestors well back in the days, when they were better off not investigating that strange noise in the bushes even though it could have been the day's dinner as well as a saber-tooth tiger. In other words, the risk was not worth the potential reward. You can survive by going to sleep hungry, but a face-to-face encounter with a predator? Not likely. Unfortunately, the evolution can't keep up with the constant change (evolvement?) of our modern day world and therefore, we are stuck with the same psychological tendencies as our great-great-great-great grandparents.

What works for me regarding sticking with a system is to trade batches instead of individual trades as Mark Douglas suggested. Define in advance how many trades you are going to take with the strategy or method you use to make your trading decisions, then simply follow it until your batch is done. Then evaluate the outcome and decide whether you will take the next X trades.

It is just a personal preference, but this trick helped me enormously.
Invincibility lies in the defence; the possibility of victory in the attack
  • #11,252
  • Edited 9:51am Aug 1, 2017 9:35am | Edited 9:51am
DAX. Long. bit late in the trend so ready to bail... 3 brick renko. 10/75 lwma. 8 cci heiken ashi

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  • #11,253
  • Aug 1, 2017 9:50am Aug 1, 2017 9:50am
+30
Thanks Clive
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  • #11,254
  • Aug 1, 2017 3:48pm Aug 1, 2017 3:48pm
Quoting iak
+30 Thanks Clive {image}
Nice. Good trading!
  • #11,255
  • Aug 2, 2017 8:30am Aug 2, 2017 8:30am
long. dax
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bailed for -6
  • #11,256
  • Edited 12:52pm Aug 2, 2017 12:16pm | Edited 12:52pm
Quoting BBalazs
{quote} What works for me regarding sticking with a system is to trade batches instead of individual trades as Mark Douglas suggested.
I'd be careful with Mark Douglas "advice." As he says himself:

Quote
"I started trading in 1978. At the time, I was managing a commercial casualty insurance agency in the suburbs of Detroit, Michigan. I had a very successful career and thought I could easily transfer that success into trading. Unfortunately, I found that was not the case. By 1981, I was thoroughly disgusted with my inability to trade effectively while holding another job, so I moved to Chicago and got a job as a broker with Merrill Lynch at the Chicago Board of Trade. How did I do? Well, within nine months of moving to Chicago, I lost nearly everything I owned."

He then spent almost eight years writing his first book, The Disciplined Trader.

I have never seen a credible resource stating that Douglas ever made any money whatsoever from trading. He made his money advising people how to trade.

As they say . . . those who can, do. Those who can't, teach,
  • #11,257
  • Aug 2, 2017 1:12pm Aug 2, 2017 1:12pm
Anyone tried this on the Bitcoin/USD chart?
  • #11,258
  • Edited 1:54pm Aug 2, 2017 1:42pm | Edited 1:54pm
Quoting jjwint
{quote} I'd be careful with Mark Douglas "advice." As he says himself: {quote} He then spent almost eight years writing his first book, The Disciplined Trader. I have never seen a credible resource stating that Douglas ever made any money whatsoever from trading. He made his money advising people how to trade. As they say . . . those who can, do. Those who can't, teach,
That does not mean that his advice is not genuine and true. If we examine competitive sports for example, most coaches are not professional athletes themselves even though they are very well aware of the fundamentals of their chosen field. Yet, they "teach" and not actually compete.

Edit: It is just my opinion and it is important to take every advice with a grain of salt, especially when it comes to trading.
Invincibility lies in the defence; the possibility of victory in the attack
  • #11,259
  • Aug 2, 2017 3:50pm Aug 2, 2017 3:50pm
Quoting BBalazs
{quote} If we examine competitive sports for example, most coaches are not professional athletes themselves even though they are very well aware of the fundamentals of their chosen field. Yet, they "teach" and not actually compete.
That is true . . . but almost every coach has at least played HIS POSITION well. All coaches also serve a "coaching apprenticeship" where they learn how others played theirs.

Here's my underlying issue with Mark Douglas: If you look at the "fine print" . . . Douglas was really a coach for people who ALREADY HAD AN EDGE . . . not for newbies or people struggling to find a method.

So if you're trading 5 contracts of the e-mini and you have trouble pulling the trigger on 10 or 15 . . . then maybe a guru like Douglas can help you.

But neither Douglas or any self-help trading guru is going to give you an edge or a workable system. You have to either invent one (which is extremely difficult) or you find one like the one on this thread.

Quote
It is just my opinion and it is important to take every advice with a grain of salt, especially when it comes to trading.

I agree 100%. Just like you and I probably don't like the same pair of running shoes, or the same car or the same movies, it's almost impossible to find trading advice that we can both use. Trading is just too individual an endeavor.

Regards from Tennessee, US!
  • #11,260
  • Aug 2, 2017 4:32pm Aug 2, 2017 4:32pm
Hello guys, subscribed to the thread. I like very much the logic behind this. I'd like to use the latest .tpl of the latest version, where can i find it?

Cheers!

P.S Is this system good also on timrframes like h1, h4, daily, etc?
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