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A very simple system - trade with arrow

  • #8,961
  • Jun 4, 2022 3:48pm Jun 4, 2022 3:48pm
When I started trading forex the woodies cci was introduced to me by a lady trader whom I met over the net. At that time she traded only EU making 30 pips everyday and later she increased the target to 50 pips. She was terrified with the pair I traded which was cable
. I have lost touch with her and I stuck with the cci ever since and found Dr. Bob double cci easier to understand and use. I was using the 10 and 30 ema then on M5 and exiting on M1. Over the years I played around with the ema and found the 34 ema better suited than the 50 ema for the method.
the cautious seldom err....C
  • #8,962
  • Jun 6, 2022 8:14am Jun 6, 2022 8:14am
Last night I took a small sell on H1 and lost.I now have a pending sell with 2.5 time more than the entry last night as I am able to monitor
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD.pM5.png Size: 30 KB
the cautious seldom err....C
  • #8,963
  • Jun 6, 2022 8:17am Jun 6, 2022 8:17am
I'm currently in a loonie short with some taken out and the remainder at b/e
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.pM5.png Size: 30 KB
the cautious seldom err....C
  • #8,964
  • Jun 6, 2022 8:21am Jun 6, 2022 8:21am
AY took its time to turn round in my favour
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY.pM5.png Size: 31 KB
the cautious seldom err....C
  • #8,965
  • Jun 6, 2022 8:24am Jun 6, 2022 8:24am
I doubt I will be around much over the next few weeks as I am moving house, so hoping you all trade well and will see you when I get organised. Good luck everyone.
  • #8,966
  • Jun 6, 2022 9:43am Jun 6, 2022 9:43am
Quoting lynnc
I doubt I will be around much over the next few weeks as I am moving house, so hoping you all trade well and will see you when I get organised. Good luck everyone.
That sounds tiresome,gl
the cautious seldom err....C
  • #8,967
  • Jun 6, 2022 9:44am Jun 6, 2022 9:44am
Quoting pips29
Last night I took a small sell on H1 and lost.I now have a pending sell with 2.5 time more than the entry last night as I am able to monitor {image}
another fail..not a good day so far..some catching up to do now to recover some losses
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD.pM5.png Size: 29 KB
the cautious seldom err....C
  • #8,968
  • Jun 6, 2022 4:53pm Jun 6, 2022 4:53pm
Quoting pips29
{quote} another fail..not a good day so far..some catching up to do now to recover some losses {image}
Eric,

AUD news is out tomorrow morning UK time, how do you go about it and what pair will you be looking at.

I traded your system today and lost one but got two, getting better and using all the lines - Daily Low, Pivots, Ema's with Round Numbers give you good targets and support. Different from how I traded before, the charts are busy but makes sense as all you need is right there with the news calendar well. A quick glance lets you know what is up. Like it, I have to say.

Thanks once more buddy.
Born to rule my Economic World and Make a Difference!
  • #8,969
  • Jun 7, 2022 3:05am Jun 7, 2022 3:05am
Quoting sharemaster2
{quote} Eric, AUD news is out tomorrow morning UK time, how do you go about it and what pair will you be looking at. I traded your system today and lost one but got two, getting better and using all the lines - Daily Low, Pivots, Ema's with Round Numbers give you good targets and support. Different from how I traded before, the charts are busy but makes sense as all you need is right there with the news calendar well. A quick glance lets you know what is up. Like it, I have to say. Thanks once more buddy.
I'm glad you started off well with 2 wins and 1 loss, as long as your loss is smaller than your win you should be doing fine.Once again I like to remind traders here if you are trading M5 you must always take a look at H1 and determine the direction, when both tf align take the trade. By doing this you know you have followed the direction correctly, if the trade fails it's alright with a small loss. It's "comfortable" when you start off correctly and proven wrong by the market later on than starting off wrong with your trade. The 10/34 ema is a trend following method and let's trade it this way. To answer your question I did not trade after my 2nd loss on GA and so I'm not bothered with the Aud rate announcement which happened at 5.30 am. It was exactly the increase I expected and the next one will bring it up to 1.5..I suspect the confidence vote has contributed to my loss yesterday. Let's start "pipping"
the cautious seldom err....C
  • #8,970
  • Jun 9, 2022 1:12am Jun 9, 2022 1:12am
Euraud long
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  • #8,971
  • Jun 9, 2022 4:16am Jun 9, 2022 4:16am
my trade yesterday
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Click to Enlarge Name: GBPUSD.pH4.png Size: 29 KB
the cautious seldom err....C
  • #8,972
  • Jun 9, 2022 4:25am Jun 9, 2022 4:25am
Long AU
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.pM15.png Size: 28 KB
the cautious seldom err....C
  • #8,973
  • Jun 9, 2022 4:28am Jun 9, 2022 4:28am
Short EA
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.pM15.png Size: 31 KB
the cautious seldom err....C
  • #8,974
  • Jun 10, 2022 8:13am Jun 10, 2022 8:13am
a very simple trade and target achieved
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.pM5.png Size: 27 KB
the cautious seldom err....C
  • #8,975
  • Jun 10, 2022 9:44am Jun 10, 2022 9:44am
I'm taking profit quickly as it's Friday..entry could have been earlier but I waited for price to break the pivot before I entered
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD.pM5.png Size: 25 KB
the cautious seldom err....C
  • #8,976
  • Jun 10, 2022 2:44pm Jun 10, 2022 2:44pm
Quoting pips29
{quote} I'm glad you started off well with 2 wins and 1 loss, as long as your loss is smaller than your win you should be doing fine.Once again I like to remind traders here if you are trading M5 you must always take a look at H1 and determine the direction, when both tf align take the trade. By doing this you know you have followed the direction correctly, if the trade fails it's alright with a small loss. It's "comfortable" when you start off correctly and proven wrong by the market later on than starting off wrong with your trade. The 10/34 ema...
Hi Eric,

Been trading your system and getting better at it. I studied the daily pivots on the USD/JPY pair and can see that Price from London Open always wants to hit one of the Pivots and will always head for the next pivots going up. Check back in the last week, it has done that most times on that pair. Got 90 pips today on the buy of that pair with add on trade from London Open, it did come back to the S1 Pivot before NY but went all the way up to the daily Pivot. So, I trade those pivots ranges from London open to NY open mostly.

Am now looking for the weekly pivots, I have checked the attachments but can't find it, if you may or any one, can you put the Weekly Pivots indicator here, the one similar to the daily one we use here. There was one I saw and downloaded, it was nice and had diagonal lines at the end and not adjustable either. Took it off.

I have attached a snap shot of the range in blue, which shows how the pair plays out from one pivot to the next from London open. This seems to be consistent, will see from next week if the same pattern plays out on that pair. Just trade between those points taking in to account the previous highs and lows of the day before.

More green pips to us all and the weekend is here!!
Attached Image (click to enlarge)
Click to Enlarge Name: Pip29-Set up4..PNG Size: 43 KB
Born to rule my Economic World and Make a Difference!
  • #8,977
  • Jun 10, 2022 3:11pm Jun 10, 2022 3:11pm
Quoting sharemaster2
{quote} Hi Eric, Been trading your system and getting better at it. I studied the daily pivots on the USD/JPY pair and can see that Price from London Open always wants to hit one of the Pivots and will always head for the next pivots going up. Check back in the last week, it has done that most times on that pair. Got 90 pips today on the buy of that pair with add on trade from London Open, it did come back to the S1 Pivot before NY but went all the way up to the daily Pivot. So, I trade those pivots ranges from London open to NY open mostly. Am...
There is no need to use the weekly pivot as the method is "engineered" for daily pivot use in ltf trading Do not overload your chart, it will only complicate matters. Keep it simple to be effective. I just noticed your pivot does not correspond with the open/close . go and adjust the setting to 0
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 4 KB
the cautious seldom err....C
  • #8,978
  • Jun 10, 2022 4:03pm Jun 10, 2022 4:03pm
Quoting pips29
{quote} There is no need to use the weekly pivot as the method is "engineered" for daily pivot use in ltf trading Do not overload your chart, it will only complicate matters. Keep it simple to be effective. I just noticed your pivot does not correspond with the open/close . go and adjust the setting to 0 {image}
Thanks for the super fast response. Point Noted.
Born to rule my Economic World and Make a Difference!
  • #8,979
  • Jun 12, 2022 10:13am Jun 12, 2022 10:13am
got to work on Sunday too for my breakfast tomorrow, poor me
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the cautious seldom err....C
  • #8,980
  • Jun 12, 2022 10:15am Jun 12, 2022 10:15am
in btc too
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the cautious seldom err....C
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