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  • #81
  • Sep 26, 2018 4:45am Sep 26, 2018 4:45am
Quoting Whatever.
Only one trade today so far. It finished BE. Not long move with low volatility and narrow range on the pair today. Reasons to take the trade: London Open move and half CCI confirmation - CCI(14) confirmed fully and CCI(100) crossed 0 line. {image}
Did you move your SL when price reached the ..75 level? Since the original SL would be some 11 pips, TP 18, - the trade would still be on?
  • #82
  • Sep 26, 2018 5:01am Sep 26, 2018 5:01am
Quoting Go5
{quote} Did you move your SL when price reached the ..75 level? Since the original SL would be some 11 pips, TP 18, - the trade would still be on?
I often manage my trades manually. I don't see reasons to wait until SL hit if i see that my signal is not valid anymore. LO breakouts are quick and smooth and depend on momentum. Often price reverses after 1-2 candles of LO. And start to move the other way the whole session or day. So need to be careful with that. Second candle has a long wick and third candle starts to move down at once. Not a good call, i don't like to make my "+" trades to become "-" trades. So it's better to take BE and to see if i can re-enter later.

Managing trades is one of the most difficult things in trading. That's why i say that everyone needs to learn his pair. And to know it and feel it. Also behaviour of the market changes very often, you have to be ready for that and adapt quickly.
  • #83
  • Sep 26, 2018 6:07am Sep 26, 2018 6:07am
Thanks for your strategy.
This is my setup.
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  • #84
  • Sep 26, 2018 7:37am Sep 26, 2018 7:37am
Quoting panci
Thanks for your strategy. This is my setup. {image}
Great one! Everything is done excellent, CCI fully confirmed, nice momentum and BO.
  • #85
  • Sep 26, 2018 5:13pm Sep 26, 2018 5:13pm
Quoting Whatever.
{quote} Hello! Thank you for your question. I took the entries right on breaking the lines, that i draw. Lines on my charts are exactly entry points. It's hard to answer definitely, because price always behaves in different ways, but the main conditions are momentum (volatility on the moment of entry), timing, candle forms and confirmed breakout. For example, if you see small movements on the market and a lot of candles with wicks on both sides - do not enter, this BO may be fake. Only when you see good certain move. Or if you know that at time...
Thanks Whatever. I have to study more about BO and be familiar with candle behaviors before breakouts happen.
  • #86
  • Sep 26, 2018 10:25pm Sep 26, 2018 10:25pm
Monitor multiple pairs with ease.

The same template applies to 5M and 15Min Charts.
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  • #87
  • Sep 27, 2018 2:46am Sep 27, 2018 2:46am
DAX. Morning nice move, which was better seen on M5.
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  • #88
  • Sep 27, 2018 3:47am Sep 27, 2018 3:47am
About today's morning situations on EU and GU. Recently we used to take London Breakouts. But can we determine today's move as London Breakouts? If we want to use such trades, then we should understand that London Breakout happens only if there is a range box on Asian session. Or we see a clear definite level after Asian session. There are no levels to break today. EU broke that level deep in the night with quick move. As i said before - be careful with entries after big candles/moves. Range or retracement often happens.

No entry on EU - no cross, big SL, CCI moves against us. The best entry with good BO was deep in the night.

If you want to take a risk trade on GU - you could do that. But look left - there are two good crosses and moves happened already. Divergences on CCI(14) are not very informative (for M15 there are much better tools to see divs), but even here we see higher lows, which tell us to be careful with continuation trade. But even if you took that trade - you can easly get off with BE or even small profit. But don't let this trade to become loss!
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  • #89
  • Sep 27, 2018 7:58am Sep 27, 2018 7:58am
DAX is on fire!
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  • #90
  • Sep 27, 2018 8:07am Sep 27, 2018 8:07am
today only 2 trades on same pair.Profit
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  • #91
  • Sep 28, 2018 2:14am Sep 28, 2018 2:14am
DAX. My advice to take such trades at LO, not earlier. It's 10:00 MT4 time, but signal was 9:55. I take this at 10:00, when get confirmation that price don't change it's way.
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  • #92
  • Sep 28, 2018 2:33am Sep 28, 2018 2:33am
EUR/USD. Best signal we had before LO. You should remember that first crosses always give much stronger signals. Continuations are more risky always. Take continuations only with confirmation of CCI and candle forms.
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  • #93
  • Sep 28, 2018 3:02am Sep 28, 2018 3:02am
EUR/AUD. The example of perfect signal.
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  • #94
  • Sep 28, 2018 5:34am Sep 28, 2018 5:34am
Hi Whatever thanks a million for taking the time and effort to show us this system. I am a breakout trader and The CCI has been my missing piece. I caught the EURUSD and the reentry on the GBPJPY after the spike down, again much appreciated.
  • #95
  • Sep 28, 2018 7:34am Sep 28, 2018 7:34am
Great friday moves we have today. Hope you are all green, guys!

New month is coming. There are some new ideas for October, which include MoneyManagement strategy for month, let's try to set and reach our goals for the month. If you want to join that journey we can make it together in Skype. For not flooding on this thread, which is for CCI method of trading BreakOuts. So let's try something new together. Knock me. This thread is still for Lean&Earn with Breakouts (and some other Price Action stuff) and CCI.
  • #96
  • Sep 28, 2018 9:49am Sep 28, 2018 9:49am
Mates, my always advice for everyone - read more! This is the only way to develop yourself, to move forward in any situation. If we talk about Forex learning - reading is necessary to build right psyhology, to learn the things which you haven't done before, to remind the things which you know, but forgot, to learn from experience of successful traders etc. It's very important! Even if you are profitable - there is no limits in your progress. Open new high for yourself!

In this case i will post some interesting articles and interviews here sometimes. Hope no one would mind.

The Market Will Be There Tomorrow

One of the keys to successful trading is eliminating any feeling of ‘needing’ to be in a trade. Traders often become fixated on believing if they miss ‘this trade’ there won’t be another one like it for a long time, their lack of experience and time in the market is the main culprit behind these feelings. This is not the proper way to think if you want to trade successfully. The fact is, there is always another trade, and most of the time there’s a better one right around the corner.
In what is perhaps an ironic ‘twist’ in the path to trading success, you almost have to not care if you are in a trade or not. Eliminating any ‘pressure’ or need to trade or make money is a good first step toward developing the proper trading mindset.
One of the most important facts of trading that I always remind myself and that helps me remain patient, is that the market will be there tomorrow. Starting today, I want you to remind yourself every day that “The Market Will Be There Tomorrow”. Write it out and hang it on the wall in your trading room if you need to: “The Market Will Be There Tomorrow” is now your trading motto.
Here are some common trading situations in which simply reminding yourself that “the market will be there tomorrow”, will help you stay patient and in a mindset that’s conducive to successful trading…

Getting too cocky / over-confident

So you just had a big winner? Feeling good about yourself? Feeling like you ‘own’ the market and that it’s now only a matter of time before you’re raking in the cash with ease?
You’re in danger. Extreme danger.
Getting cocky after a winning trade or after a few winners is usually what happens to most traders right before they have their biggest losers. It’s at this time, after a big winner / nice trade that you really need to stop and remind yourself that the market will be there tomorrow. Close up your computer, take a break for a couple days, take the rest of the week off, you need some time to let the cockiness subside, or else you will lose all the winnings you just made and probably more.
The market isn’t going anywhere, opportunities will be there when you come back. For now, enjoy your winning trade and step away from your trading screen for a few days.

Exiting a trade too soon

How many times have you entered a good trade and then as soon as it doesn’t do exactly what you would like it to, you close it early, only to see it play out in your favor a few days later? This is a mistake many traders make and it’s born out of feeling pressure again. You feel pressure to exit the trade because you fear it will continue to not do ‘what you expect’ and may turn into a loser.
Exiting a trade too soon is an emotion-based action and simply makes no sense in most cases. Assuming you’re entering on a strong price action signal and you’re not just over-trading, and you’ve set your stop loss properly and managed your risk properly, you have no logical reason to close a trade early in most cases. You need to give trades time to play out, give your trading edge (strategy) time to work for you, otherwise you’re voluntarily lowering the probability of your trading edge making you money over the long-run.
To help you stop exiting trades too early, remember that the market will be there tomorrow. You don’t know what the market will do tomorrow, and just because it’s against you by 25 pips, doesn’t mean it won’t reverse and move significantly back in your favor tomorrow.
Always base your trading decisions on two main principles:
1) You never know for sure what price will do tomorrow.
2) What is the price action on the chart actually doing vs. what do you ‘think’ it ‘might’ do?
If there’s no obvious price action based reason to close your trade early, then you need to leave it open and let the trade play out, otherwise you’ll never make any money! Don’t worry about what you think might happen, worry only about what’s really happening. A slight retrace against your position isn’t enough of a reason to exit a trade early. There are times it makes sense to exit early, like when the price dynamics are clearly changing or you get an obvious price action signal against your initial position, but these instances are usually the exception to the ‘rule’. Most of the time, it pays off over the long-run to ‘set and forget’ your trades and to help you do this, remember that the market will indeed be there tomorrow.

Family stress

If you’re dealing with a period of major family stress or perhaps some life-changing family event, like the birth of a child or a death in the family etc., by all means, don’t trade during these times. When important things like this are happening, you need to remember that you’re not going to be in the proper trading mindset and so you won’t be able to make good trading decisions.
Just remember, the market will be there tomorrow, so take time away from the market when you need to and don’t make financial decisions when more important things are happening.

Jumping into a bad trade / over-trading

This one is obvious. If you’re sitting at your trading screen and you’ve analyzed all your favorite markets but you still don’t see any obvious trades ‘jumping out’ at you, it’s at THIS time you really need to say to yourself, “The market will be there tomorrow”.
Similarly, you don’t need to sit there watching the market all day. It’s not going anywhere. If there’s nothing happening and no obvious trades are setting up, close down your charts and come back tomorrow. Even if you’re in a trade, after you’ve checked in on it for the day, there’s no point in sitting there for 4 to 5 hours at a time just watching it. If you do this, you’ll probably end up making a stupid trading mistake like exiting before the trade has a chance to move or entering another trade / over-trading for no reason. The market will be there tomorrow, so you don’t need to sit there and obsess over your trade all night. Go to bed!

Final thoughts

Simply reminding yourself that the market will be there tomorrow will help you remain patient, but it probably won’t be enough.
In order to get into that trading mindset that I discussed in the introduction of this lesson, you’ve got to have ‘distractions’. Your goal should be to reach a point where you literally ‘don’t care’ if you lose or win on any one trade, because you know that trading success is measured over the long-run, not by any one trade.
  • #97
  • Sep 28, 2018 1:35pm Sep 28, 2018 1:35pm
Don't forget about this if something goes not your way. Don't lose patience and trust your journey!
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  • #98
  • Oct 1, 2018 4:16am Oct 1, 2018 4:16am
usdcad sell
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  • #99
  • Oct 1, 2018 4:41am Oct 1, 2018 4:41am
Quoting ficibald
usdcad sell {image}
Well done, mate!
  • #100
  • Oct 1, 2018 4:50am Oct 1, 2018 4:50am
breakout possibility in EURUSD
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