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Traffic Light System 378 replies

With a little help from our Expert Adviser friends ... - Paulus 10 replies

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Paulus - Traffic lights

  • #121
  • Sep 19, 2008 1:58am Sep 19, 2008 1:58am
this shows the importance of having the 15 min without it we have no clue as to where the market MAY be going.

The chart shows a majority of shorts notice how the dips down are stronger than the rallies up until the uptrend is established ..going with the shorts keeps us on the right side of the momentum

If you trade the Asian session my 20pip tgt would of been hit on the 1st signal..when you have made your daily target stop ans go to sim don't swim with the sharks !!
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  • #122
  • Sep 19, 2008 2:22am Sep 19, 2008 2:22am
Quoting Paulus
this shows the importance of having the 15 min without it we have no clue as to where the market MAY be going.
Do you use a combination of HA and CCI on the 15min chart to find direction?

Or is it just the CCI?
  • #123
  • Sep 19, 2008 2:44am Sep 19, 2008 2:44am
Quoting Yaad
Do you use a combination of HA and CCI on the 15min chart to find direction?

Or is it just the CCI?
I'm about 99% sure that he just uses the CCI because the HA can lag a lot more in the 15m tf.
  • #124
  • Sep 19, 2008 6:17am Sep 19, 2008 6:17am
Hi Yea your right just the CCI it seems to be very reliable.

My 1st live trade today was -10 followed by a +20 which gave me 10 pips..
My 3rd trade was closed when it hit +10 pips giving me my total of 20 pips which is my daily target.

My day was over at 10.35am uk time it started at 7.30am uk time.#

1 contract on 20 pips a day is $1k per week a nice round number..to make more money increase your contracts with money management do not try and get more pips out of the market ,personally I think this is a risky move.

If you hit your daily target 90% of the time then your account will grow, emotionally you will feel great and you will have more free time

Please don't think the answer is to take 50 60 100 pips out of the market daily you will implode and blow your account.

Ive just watched the 4th signal make 20 pips ( it went 40pips ) I don't beat my self up about this more I think the system is good if I was on -20 right now I would be even..thats a good position to be in.

Cheers

Paulus
  • #125
  • Sep 19, 2008 9:08am Sep 19, 2008 9:08am
Yellow are my trades green are system signals after my 20pips so on sim now

Paulus
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  • #126
  • Sep 19, 2008 10:44am Sep 19, 2008 10:44am
Hi Paulus.

Thanks for share your system and update it.

Only one question.In the case of having several losses row. How many pips have to lose to close your trading session?

Thanks.
  • #127
  • Sep 19, 2008 10:56am Sep 19, 2008 10:56am
Hello everyone,I think the reason that people seem to want to go for more than there own self imposed number of pips per day besides greed is they may not have enough in there account a $1 or $2 per pip does not seem like a lot but it is better than working for someone else! but he who starts little by little makes there account grow! personally that is my goal everyday to make only 20 pips per day and no more.everytime you get in the market you put your capital at risk.GREAT SYSTEM PAULUS,THANKS FOR SHARING!!!!!!!!!
  • #128
  • Sep 19, 2008 10:59am Sep 19, 2008 10:59am
yea good question

Technically you should stop at -20 pips for the day..I personally dont do that Ive been to -30 and -40 a couple times on the 1 occasion when I had -40 I had 2 winners that brought me back to zero then over the next 3 trades had my 20 pips..the system relies on that at some part of the session the swap will trend.

If your using money managment and start on the mini contract the losers wont hurt you..the aim is to gain your pip count for the day.

If I funded an account with 100k Id prob take just 5 or 10 pips and stop for the day.

but thanks for bringing it up

Paulus
  • #129
  • Sep 19, 2008 11:02am Sep 19, 2008 11:02am
latest chart direction guided by 15 min dont forget
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  • #130
  • Sep 19, 2008 11:25am Sep 19, 2008 11:25am
Quoting Paulus
yea good question

Technically you should stop at -20 pips for the day..I personally dont do that Ive been to -30 and -40 a couple times on the 1 occasion when I had -40 I had 2 winners that brought me back to zero then over the next 3 trades had my 20 pips..the system relies on that at some part of the session the swap will trend.

If your using money managment and start on the mini contract the losers wont hurt you..the aim is to gain your pip count for the day.

If I funded an account with 100k Id prob take just 5 or 10 pips and stop for the day.

but thanks for bringing it up

Paulus
Good response too. Thanks.
  • #131
  • Sep 19, 2008 11:53am Sep 19, 2008 11:53am
here is a normal signal the vertical red line on the 15min chart is time stamped at 18.15 pm with the CCI heading upto 0.00.

When the signal bar finished on the 5min the time was 18.20pm and the CCI on the 15min was showing blue ..don't forget we don't wait for the 15min to finish its bar only the 5min also note the stoch both low coming out of over sold conditions .. although not an entry criteria but gives more confidence perhaps to take the signal.

Look at the 30min chart at the time of the 5min signal the 30min was still blue .. so the 30min was showing a longer term up trend the red on the 15 min could of been just a pull back in that up trend and so we take the 5min signal when the 15min shows us some blue as we know the 30min is still blue ..you take what you feel is comfortable but logically thinking the set up was a good one

Hope it all helps

paulus
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  • #132
  • Edited 11:56am Sep 19, 2008 11:55am | Edited 11:56am
PAULUS !!!!!!

Great system, mate !!

I have it all setup on my pc and started trading it now actively on demo, so far EXCELLENT.

Keep up the good work.

Wishing you a splendid weekend.

PS: I tried it before with the EA, but that was very disappointing activity and I walked away for some time.
  • #133
  • Sep 19, 2008 11:59am Sep 19, 2008 11:59am
Can someone share a mtf cci? I would like to just run the one chart, the 5min, but still see the cci for confirmation from the 15min. There must be a mtf cci around, i've seen mtf everything else
thanks

P.S. would that actually be the same as putting a cci 24 on the 5 min chart? hmm
  • #134
  • Sep 19, 2008 12:06pm Sep 19, 2008 12:06pm
hey Freddy !

Thanks I cant trade with Ea's myself and the system seems to be logical in its approach with money management it should survive.

All we are looking for is a pull back on the short term chart to trade in the direction of the longer term trend simple as that.. most things that work are simple I find .,. Taking restricted pips per day using money management and trading with the longer term trend and entering on re tracements stacks the odds in your favor ...........and at the end of the day thats all we can do

I cant say what the next bar will do all I can do is give an educated guess of where I think it may go given all the facts

We need an edge I think this gives us that...............I hope !!

Paulus
  • #135
  • Sep 19, 2008 12:14pm Sep 19, 2008 12:14pm
Yes, so very true.

Ronald made a good effort with the EA he wrote and I went out of my way to get it all properly understood and explained here. Funny thing I noticed, the EA took trades, but the results were the other way around. Maybe some day try it on one account and then take teh counter trades, hahahaha, or ask him to reprogram its function

I agree with you that watching a good trade develop, then enter and make the necessary 20 pips for the day is a real thrill. BIGGEST problem is then to walk away and I am training that......VERY HARD.
  • #136
  • Sep 19, 2008 1:46pm Sep 19, 2008 1:46pm
yes I agree nothing in trading is easy apart from losing money it seems ...lols.

the more robotic un emotional and detached you are from your trades the better you will trade Im sure..but its a tough mind set to get into

the latest chart all guided by the 15 min dont forget the 'safe' signals these are signals where the 15 is for example blue and has been for a time you then get a re tracement on the 5min so it goes red and then we get blue again..that is classed as a safe signal the last 2 signals on the chart for example are safe signals..the signal that says 18.20pm is a normal signal
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  • #137
  • Sep 19, 2008 1:52pm Sep 19, 2008 1:52pm
My first live trade with this, thanks Paulus!

Feel free to answer my question about whether a cci24 on the 5 min chart is just as good as having the cci8 on the 15min chart for verification?

Thanks!
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  • #138
  • Sep 19, 2008 1:54pm Sep 19, 2008 1:54pm
Paulus

Matt here from the 'room'. Re: the mtf CCI you mentioned yesterday, I think I've found an indicator for this.

I won't post it yet until I've tested it in case it turns out to be cack, and someone treats it as gospel.

Cheers.
  • #139
  • Sep 19, 2008 3:54pm Sep 19, 2008 3:54pm
Quoting Paulus
and trading with the longer term trend and entering on re tracements stacks the odds in your favor ...........and at the end of the day thats all we can do
Paulus
For me, this is the best explanation of the Paulus method.

I'm always tempted to jump in when the 5m gives a blue or red signal, even though the 15m shows the opposite colour--especially when price is moving fast and furious.

I need to realise I've got a higher probability of success if I wait for the trend to establish itself on the 15m, wait for the pullback/retracement on the 5m, then jump on when it's ready to keep going.
  • #140
  • Edited 1:21am Sep 20, 2008 1:17am | Edited 1:21am
Quoting Paulus
...dont forget the 'safe' signals these are signals where the 15 is for example blue and has been for a time...
Hi Paulus,

I'm trying to spot these 'safe' trades on the fly, and I'm wondering how you decide when the 15 min cci 'has been for a time'? How many same colored bars means it's found a trend? 3, 4, 5? Does it have to reach a certain level away from 0 before you feel it's a pullback and not just a whipsaw?

Based on what you've learned so far, what would be your mechanical guidelines for spotting a 'safe' trade set up on the 15 min cci?

Thanks,

VBro
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