Powerful 1 Min Scalping System (Fx Prime)

Quoting stevewide

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pivots will be correct on Monday if you use a broker that starts each week at Midnight (00:00) on Monday. That way the pivots use Friday's data for Monday's pviots.

Two examples of brokers offering free demo accounts that meet this criteria are:

IKON http://www.ikon-royal.com/download-center.htm

Metatrader FX Clearing https://www.fxclearing.ca/eng/

Thanks,

Steve

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Quoting Rosscub

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Hi CD,

I have found a pattern that may be useful under certain market conditions. In a fast moving market with strong directional momentum, you may have both CCI's above/below the 0 line without the CCI 34 crossing above/below for a proper pullback entry. In those instances it may be possible to use this alternate entry, or if you missed the established entry criteria, this may give you an optional late entry.

On my chart, notice how the EUR/USD was clearly moving down with both CCI's remaining (mostly) below the 0 line. At the bottom of my chart I have added an indicator that displays the direction of the Heiken Ashi Smoothed indicator on both the 1 min and the 5 min charts. On the 5m we see the HA remaining bearish, but on the 1 min we see small pullbacks. The RSI will also rise above the 50 line and then fall back below 45. This could be an entry in a fast market when the RSI crosses over the 50 and then back down across the 45 (for a short trade) and the HA on the 5 min remains bearish while the 1 min changes from bearish to bullish and then back again. I would only consider this when there is strong momentum and clear direction. Look at my chart for examples. I would be intersted in your thoughts.

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Quoting Canadian_Dud

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kinda hard to understand lol

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Quoting HUnter123

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Thx for the advice but i just use the indicator which ignores sunday bar(attached).
I see now the mistake with the RSI , critical one and for something stupid
what is supposed to be the red line over the TRSI indicator?

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Quoting stevewide

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Looks like the red line is the rsi 14 which is supposed to be blacked out since we don't use it. We just use a rsi 8 now instead of the T3 RSI as explained in the first post.

Hang in there. We all make mistakes, especially at first. I didn't have my charts set up right for the first week and lost trades because of it. Cad Dude generously helped me get on track.

It will become easy with practice, asking questions, and patience.

Steve

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Quoting Rosscub

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Hi CD,

I have found a pattern that may be useful under certain market conditions. In a fast moving market with strong directional momentum, you may have both CCI's above/below the 0 line without the CCI 34 crossing above/below for a proper pullback entry. In those instances it may be possible to use this alternate entry, or if you missed the established entry criteria, this may give you an optional late entry.

On my chart, notice how the EUR/USD was clearly moving down with both CCI's remaining (mostly) below the 0 line. At the bottom of my chart I have added an indicator that displays the direction of the Heiken Ashi Smoothed indicator on both the 1 min and the 5 min charts. On the 5m we see the HA remaining bearish, but on the 1 min we see small pullbacks. The RSI will also rise above the 50 line and then fall back below 45. This could be an entry in a fast market when the RSI crosses over the 50 and then back down across the 45 (for a short trade) and the HA on the 5 min remains bearish while the 1 min changes from bearish to bullish and then back again. I would only consider this when there is strong momentum and clear direction. Look at my chart for examples. I would be intersted in your thoughts.

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Quoting Canadian_Dud

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hows your trading doing today, hows the room doing im not there im at work people enjoying themselves?

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Quoting stevewide

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Room seemed to be busy till an hour or so ago when it quited down since slow time of day; I few traders got in the Eu long signal 30m ago and are doing well.

Apparently some traders left for the day because i know a few new traders can now get into the chat.

The room is a good experience for me. I\"m learning alot.

There were several pairs discussed along with the Euro/USD which some felt was confusing but all in all we've had a good experience in chat.

Thanks to all who participated in chat. Thanks for helping me.

Please post on this thread too.

Steve

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Quoting fibofuzi

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hello rosscub,
where i can get the 4 mtf has indi?

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Quoting Rosscub

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Hi CD,

I have found a pattern that may be useful under certain market conditions. In a fast moving market with strong directional momentum, you may have both CCI's above/below the 0 line without the CCI 34 crossing above/below for a proper pullback entry. In those instances it may be possible to use this alternate entry, or if you missed the established entry criteria, this may give you an optional late entry.

On my chart, notice how the EUR/USD was clearly moving down with both CCI's remaining (mostly) below the 0 line. At the bottom of my chart I have added an indicator that displays the direction of the Heiken Ashi Smoothed indicator on both the 1 min and the 5 min charts. On the 5m we see the HA remaining bearish, but on the 1 min we see small pullbacks. The RSI will also rise above the 50 line and then fall back below 45. This could be an entry in a fast market when the RSI crosses over the 50 and then back down across the 45 (for a short trade) and the HA on the 5 min remains bearish while the 1 min changes from bearish to bullish and then back again. I would only consider this when there is strong momentum and clear direction. Look at my chart for examples. I would be intersted in your thoughts.

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Quoting fender

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hi....could anyone help me on how to start a trade using this system?? step by step could be good..i just read the entire thread but still cant get it on how to start a trade and close...still confusing thanks

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Quoting C.E.O.

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Looks like a few classic zero line rejects to me. I would suggest to you all to do a search for \"Woodies CCI\" since this system appears pretty dependant on similar methods. I am sure it would help.

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Quoting Rosscub

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The setup I mention earlier can also be a useful filter in conjunction with the standard setup.

Look at the attached chart. The green lines indicate a standard setup used with the Heiken Ashi setup I mentioned earlier. The red lines are the standard setups without the HA filter.

Also, I place my stop at breakeven after +10 pips.

If you would have taken the standard setup (this is also assuming you were ignoring support/resistance since that would have helped keep you out of several of these bad trades), you would have had 4-5 losses and 1 nice big win. If you would have used the standard entry with the HA setup, you would have had 1 breakeven (moved up after +10) and 1 big win.

I believe the system is good as it stands; I'm just sharing my observations. I would be interested in the thoughts of others.

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Quoting Canadian_Dud

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So are you saying that you just wait to get a setup and wait till the HA filter on the bottom both bars match? red or blue?

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Quoting Rosscub

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The setup I mention earlier can also be a useful filter in conjunction with the standard setup.

Look at the attached chart. The green lines indicate a standard setup used with the Heiken Ashi setup I mentioned earlier. The red lines are the standard setups without the HA filter.

Also, I place my stop at breakeven after +10 pips.

If you would have taken the standard setup (this is also assuming you were ignoring support/resistance since that would have helped keep you out of several of these bad trades), you would have had 4-5 losses and 1 nice big win. If you would have used the standard entry with the HA setup, you would have had 1 breakeven (moved up after +10) and 1 big win.

I believe the system is good as it stands; I'm just sharing my observations. I would be interested in the thoughts of others.

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Quoting freemenn

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Hi Rosscub,
can you please attach that indicator and explain which is the 1min and wich the 5 min bar?

thanks a lot!

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