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My Go To Trading System (Tribute to Currencia)

  • #401
  • Jan 3, 2020 11:02am Jan 3, 2020 11:02am
Quoting NoNonSenseFX
{quote} Do I miss something? Yellow line CCI not reached -200 level? {image}
... I think the red vertical lines also habe to reach -200.

Greetings
Michael.MSA
Don't trade because you think you have to do something.
  • #402
  • Jan 3, 2020 11:44am Jan 3, 2020 11:44am
Quoting blanca
Pefect set up Cescof very good job. Really fxjpk? A video are you sure you guys want to see my ugly face, lol? Let me think about it dear meanwhile put up your chart, this party is about to start.
would be nice A video
  • #403
  • Edited 12:15pm Jan 3, 2020 11:55am | Edited 12:15pm
I'm posting my trades again from last evening to give more explanations.

In both cases the 89 CCI had touched the 200 trigger line. Also, the yellow 21 CCIs were aggressive.
Both trades were below the Daily Pivot (DP) and the 240 MA and there were no ribbons below giving support. There were no "obstructions" before the DS1.
There was enough space to DS1 to give me better than 1:1 RR.
I used my trade manager (TM) EA and set the SL just above the previous small swing low on UJ and in the second ribbon above on the EJ.
Using 1% risk (always), the TM automatically calculates the lot size.
I clicked on it for a short trade and by my preset gives me an entry line 5 pips below the current price.
I then adjust the entry line up or down depending on the exact entry I want, usually slightly below the low price (or higher price on a long trade).
The entry triggered and then I adjusted the TP line to what I wanted
In the case of the UJ my exit setting was what I got.
In the case of the EJ I saw the price was starting to wobble and hesitate and I clicked to close the trade. It was also late and getting past my bed time. And I was more than 3% ahead on the trades.

A trade manager saves a lot of time and hassle, and stress. Mine is a private one from someone else and I am not at liberty to post it. But there are some on FF and also commercial ones. Maybe someone can suggest a free one for those who aren't familiar.

The one I use has a problem with entries at market. It occasionally does not put the stops where I'm telling it to (usually too close to price). So I will soon go back to a commercial one. It's a bit of a resource hog but I will make adjustments.

At the moment I have three charts always open and ready to go with Blanca's template. When Sick's GREAT scanner on a separate MT4 gives me an alert, I use the market watch to just drag the symbol onto a chart to see if the signal is good.

Personally, I have to do some more manual back-testing and find the pairs that move the best in my trading hours. I will also check M15 history on some pairs.

That's my story for now.

Have a great weekend.

P.S. I would appreciate a Thumbs up click (bottom right of this post), from anyone who finds this post useful.
I don't want to go on like a babbling idiot if this is not helpful to anyone. Thanks.
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  • #404
  • Jan 3, 2020 12:58pm Jan 3, 2020 12:58pm
[quote = NoNonSenseFX; 12686785] {quote} Mi manca qualcosa? Linea gialla CCI non ha raggiunto il livello -200? {Image} [/ quote]

You are right mate
  • #405
  • Edited 1:28pm Jan 3, 2020 1:06pm | Edited 1:28pm
Hi guys,

I will try to make a video indeed, thank you so much for all your comments, very kind of you. Backspin I really like you are getting so deep in the system that you are already designing and EA, but let me explain you one thing about this system and the EAs, they simply Do not work, too many things to take care about, the stoploss and take profit are unique every time, the risk reward is always different and some of the trades are inside the ribbons and we have not even mentioned the news which should always be considered or the patterns to find. So an Ea would be just like many more just a scam not to mention the legal problems involved I would think it twice.
. Plus usually the systems that turn into EAS in this forum its because someone wants to sell something and take some kind of advantage.

I am not selling anything and do not plan to sell anything, just sharing for free, trying to get people to learn with the only purpose of helping them improve their skills, even if we do it manually its important to learn to trade, the skills acquired are really important.

So please no one post any EA here, there is nothing to sell here.
  • #406
  • Jan 3, 2020 1:10pm Jan 3, 2020 1:10pm
Quoting blanca
Hi guys, I will try to make a video indeed, thank you so much for all your comments, very kind of you
awesome cant wait. ohh take yourtime then
  • #407
  • Jan 3, 2020 1:33pm Jan 3, 2020 1:33pm
Quoting blanca
Hi guys, I will try to make a video indeed, thank you so much for all your comments, very kind of you. Backspin I really like you are getting so deep in the system that you are already designing and EA, but let me explain you one thing about this system and the EAs, they simply Do not work, too many things to take care about, the stoploss and take profit are unique every time, the risk reward is always different and some of the trades are inside the ribbons and we have not even mentioned the news which should always be considered or the patterns...

Hi Blanca,
thank you so much for making a video.

Best regards
Michael.MSA
Don't trade because you think you have to do something.
  • #408
  • Jan 3, 2020 1:35pm Jan 3, 2020 1:35pm
[quote = blanca; 12686979] Ciao ragazzi, cercherò davvero di fare un video, grazie mille per tutti i vostri commenti, molto gentile da parte vostra. Backspin Mi piace davvero che tu stia diventando così profondo nel sistema che stai già progettando e EA, ma lascia che ti spieghi una cosa su questo sistema e gli EA, semplicemente non funzionano, troppe cose di cui occuparsi, lo stoploss e il profitto è unico ogni volta, la ricompensa del rischio è sempre diversa e alcune delle operazioni sono all'interno dei nastri e non abbiamo nemmeno menzionato le notizie che dovrebbero sempre essere prese in considerazione o gli schemi da trovare. Quindi un Ea sarebbe come molti altri solo una truffa per non parlare dei problemi legali coinvolti, lo penserei due volte. . Inoltre di solito i sistemi che diventano EAS in questo forum sono perché qualcuno vuole vendere qualcosa e trarne qualche vantaggio. Non sto vendendo nulla e non intendo venderlo, condivido gratuitamente, cercando di far imparare le persone con l'unico scopo di aiutarle a migliorare le loro abilità, anche se lo facciamo manualmente è importante imparare a commerciare, le competenze acquisiti sono davvero importanti. Quindi per favore nessuno pubblica EA qui, non c'è niente da vendere qui. [/ Quote]
Hi Blanca! I think that backspin spoke of a ea which simply help managing the trade...calculating size, risk rateo, stop loss, etc. Not one that take decisions for us...Sorry for my bad english
  • #409
  • Jan 3, 2020 1:49pm Jan 3, 2020 1:49pm
I know dear, backspin has only been trying to contribute so I just asked him not to post any EA, still it wont work, too many things to look after. The problem is that sometimes some people might try to sell these EAs , in old times they used to sell everything even if those systems were bad.


Nowadays its not possible, many things are legally protected but still some keep on doing it and I do not mean Backspin who has been absolutely helpful, I am just making it clear this is a place to learn not to sell just in case, lol,

This thread is to learn, to share and of course do business with our skills. Did you know Spanish is very similar to Italian? I had no idea until now, lol its so cool
  • #410
  • Jan 3, 2020 3:41pm Jan 3, 2020 3:41pm
Quoting blanca
Michael thank you for your kind words, Daniela, all you guys welcome I hope you take something valuable for your trading life, when you make a trade try to post the reasons , the plan, imagine you are going to be hired and you need to show you are good, because someday someone will ask you to show your abilities in order to trust their money to you. The more you do that, the deeper your knowledge will be and the more questions will arise too. What do you guys think about this entry? Is it good, is it valid or not, do you think has enough strength?...
Hi Blanca,
Thanks for the challenge on this post.

As this 5 min chart as posted went on to achieve approximately 60 plus pips, I for one, and I guess others here would appreciate your detailed response.

Scalping a 5 min chart for something like 10 odd pips with your valued input is what the contributors here are trying to learn so we look forward to your ongoing support in future posts. and of course the Video.

Thank you for sharing your valued trading knowledge with us.

Kind regards
Ben
  • #411
  • Jan 3, 2020 8:15pm Jan 3, 2020 8:15pm
Hi Blanca,thank you for your thread. You're a good person.
And I need helps :How to avoid such a situation?
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  • #412
  • Jan 3, 2020 8:20pm Jan 3, 2020 8:20pm
[引述][引述][12687257]嗨，布兰卡，谢谢你的帖子。你是个好人。我需要帮助：如何避免这种情况？{Image}[/引述]
My idea: The price is at top of ribbons,lack of upward momentum. The ribbons are realtime invisible levels of supports and resistances.
Is that so?
  • #413
  • Jan 3, 2020 8:32pm Jan 3, 2020 8:32pm
Yes dear,

once the price has reached the extreme of a ribbon, its kind of over for the trade unless it has a lot of strength, in this case even though it worked inside the ribbons there are other better set ups that I will post soon and also how to avoid some of the losses in order to make it profitable, but also almost any system with the proper money management techniques can be profitable, we do not need the best system but we certainly need the best money management techniques.
  • #414
  • Jan 3, 2020 8:38pm Jan 3, 2020 8:38pm
Hello B!,

Just a reminder.. when making the video, kindly label or indicate each Indicator. E.g ribbon, MA e.t.c I get it mixed up. I can’t even identify the ribbon smh
  • #415
  • Jan 4, 2020 3:54am Jan 4, 2020 3:54am
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  • #416
  • Jan 5, 2020 8:25am Jan 5, 2020 8:25am
Do you still see the price behind all those lines ? I admire people who are able to trade with so much noise on screen !
  • #417
  • Jan 5, 2020 4:49pm Jan 5, 2020 4:49pm
Quoting Dreadlocks
{quote} soo how is this working
determine the underlyings in the market window, then drag the indicator from the navigator window onto the chart, done.
  • #418
  • Jan 6, 2020 3:50am Jan 6, 2020 3:50am
Quoting blanca
Yes dear, once the price has reached the extreme of a ribbon, its kind of over for the trade unless it has a lot of strength, in this case even though it worked inside the ribbons there are other better set ups that I will post soon and also how to avoid some of the losses in order to make it profitable, but also almost any system with the proper money management techniques can be profitable, we do not need the best system but we certainly need the best money management techniques.
hellow blanca very interested your thread,,you can give me advice how identify false break setup?
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  • #419
  • Edited 8:48am Jan 6, 2020 8:14am | Edited 8:48am
Good morning guys ,

Today is the perfect day to speak about the news in trading. As we all have seen on Friday we started with very interesting news so lets ask ourselves how can we use them in trading and in our favour. As they affect directly some commodities specially oil. So depending about the country and its resources we will look what commodity can be raaffected, so buying oil on Friday was a good decision, any buy signal was fine, still at this moment if something relevant happens buying oil could also be a good decision as we have seen it going down for a while, even if its temporary, if we see another relevant new we could buy again, of course with signal.

It also affects directly the Canadian dollar, they are related.


How to avoid false breakouts

In this system, we are scalping in a 5 min timeframe so noise is everywhere,

Do not make entries in pivots or near pivots, they are like walls
Do not make entries inside ribbons unless they are open
Always look for a breakout and space,
Looking for a bigger timeframe in order to take the trend would be preferable, a 4 hr is fine, although the signals work also in any trend.
When a signal starts with a huge candle its better to let it pass, as the stoploss gets very big too, so don't take it.


Please look how in the chart below the oil broke the ribbons, even slim which means the resistances were strong, and also pay attention at the size of the candles, they keep getting bigger and bigger until the end signaling that more traders were adding to the move.
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  • #420
  • Jan 6, 2020 9:03am Jan 6, 2020 9:03am
Quoting blanca
Good morning guys , Today is the perfect day to speak about the news in trading. As we all have seen on Friday we started with very interesting news so lets ask ourselves how can we use them in trading and in our favour. As they affect directly some commodities specially oil. So depending about the country and its resources we will look what commodity can be raaffected, so buying oil on Friday was a good decision, any buy signal was fine, still at this moment if something relevant happens buying oil could also be a good decision as we have seen...
From post #99:
"For a buy signal the price should be above the Daily Pivot"
seems that it was not a very good signal dear Blanca what do you think about that?am I wrong?
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