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Attachments: Powerful 1 Min Scalping System (Fx Prime)
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Powerful 1 Min Scalping System (Fx Prime)

  • #941
  • Oct 21, 2008 1:29pm Oct 21, 2008 1:29pm
Breaking support level.... potential rebound?
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  • #942
  • Oct 21, 2008 1:36pm Oct 21, 2008 1:36pm
Any possible follow-through upmoves ???

CCI 170 is still in the red....38.2 and 23.6 fibos... potential resistance !
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  • #943
  • Oct 21, 2008 1:36pm Oct 21, 2008 1:36pm
Quoting rcbarlow
Several individuals have been asking about the winning percentages, etc of this system. It is all based on how you trade. I trade very conservatively using this system. Here are a breakdown of every trade I've made from Sunday at 5pm until noon today (Tue).

1. 20 pips 11. 6 pips
2. 2 pips 12. 10 pips
3. - 9 pips 13. 10 pips
4. - 8 pips 14. - 8 pips
5. 10 pips 15. 20 pips
6. - 3 pips 16. 10 pips
7. 22 pips 17. 13 pips
8. 20 pips 18. 10 pips
9. 10 pips 19. 16 pips
10. 13 pips 20. 14 pips

TOTAL: 206 - 28 (losses) = 178 pips

As you can see, this is a very very profitable system CD has.
Folks, trading very conservatively, thats $1780. as of Tuesday this week.

I've set an EA loose mechanically following the system:

Entry: 34CCI crosses 0 line in direction of 170CCI and RSI is above/below 55/45

Exit: 34CCI crosses back over 0 line.

SL of 10 pips + spread.

A complete mechanical version of the system took a $200 account as low as $120, and is currently back to $207 after 2 days of trading.

I'm curious to know what non-indicator methods you all are using to try and filter out losing trades. (Times? Volume? Moon phase?)
  • #944
  • Oct 21, 2008 1:40pm Oct 21, 2008 1:40pm
38 pips was easily made between the 2 white lines at 7:56 EDT today. The trade offered 58 pips but literally following the rules paid 38. There was a better exit for the technical analyst at the o.5 fib extension for 50 pips but blindly following the rules mad a nice day's work paid handsomely.

Chat is very busy......

Steve
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  • #945
  • Oct 21, 2008 1:45pm Oct 21, 2008 1:45pm
Quoting stevewide
38 pips was easily made between the 2 white lines at 7:56 EDT today. The trade offered 58 pips but literally following the rules paid 38. There was a better exit for the technical analyst at the o.5 fib extension for 50 pips but blindly following the rules mad a nice day's work paid handsomely.

Chat is very busy......

Steve

Sure is great to see you all making pips and earning money

I will be in the chat room at 5pm!!!
  • #946
  • Oct 21, 2008 2:07pm Oct 21, 2008 2:07pm
I wanted to share people here of my trading day and my problems with this system (i think it's great dont misunderstand me).
First problem is trading too much in my opinion, this system can make you enter the market just 2 mins after you got out of a sl of 10 pips , but you must take all trades because you dont want to miss the big ones, it can be very mentaly tough. i know i should look at 5mins chart (im also using 5 mins hl lh system of vantage, another great system) but most of the good trades come out of sideways market so not taking them would make you miss the good ones. i attached one example (first picture)
Second problem is what i mentioned yesterday - very aggressive 1min bars that followed by a pullback that takes your sl of 10 pips before continuing with the main trend. you can wait for the pullback to occour but it's not the rules of the system and you might miss the move if there is no pullback. an example of a false trade in the second picture.
And my third problem is exiting at pivots and fibs. sometimes they work just great and make you exit at the pick but most of the times you wont be able to catch big moves of 60-70 pips like the one this morning because there will always be a pivot of a fib along the way that will make you exit. an example of such a trade is picture 3.
I'd love to hear some comments about my problems.
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  • #947
  • Oct 21, 2008 2:10pm Oct 21, 2008 2:10pm
and third picture
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  • #948
  • Oct 21, 2008 2:12pm Oct 21, 2008 2:12pm
picture 2 is the wrong one, of course the cci didnt allow short there.
i will replace it but believe me there are other good examples
  • #949
  • Oct 21, 2008 2:14pm Oct 21, 2008 2:14pm
Ronald,

That is why an EA has not been profitable on this system.

It would have to limit trading to the hours of 3am until 11am EST for one.

It would also have to take into consideration the 5 and 15 min charts. I, for one would require both of Williams AC & AO to be the same color on the 15 min chart and also be in agreement with the 5-3-3 stockastic. I don't know how this would be possible. Would also require the Laguerre to be in agreement on the 15 min chart.

If all that could be done, in addition to all the regular rules, it might work.
  • #950
  • Oct 21, 2008 2:15pm Oct 21, 2008 2:15pm
Quoting HUnter123
and third picture

Thanks for posting! ok so when you ARE in a sideways market I want you to put two lines on your chart where the s/r zone are and only ONLY take a trade when it breaks the two lines see.

Again over trading this system will make you less of a successful trader using this. Again only trade with the 5 min chart, no trend no trade again if its sideways just put to lines at the s/r and wait for the market to break.

Also take your 5 min chart and draw fib lines I will make a video on this tonight to help you and will post it on the chat so all of you can get strong signals... most people in the room had great profits so dont give up.

10 s/l is to protect you if there is really bad whipsaw, if you see its loosing you trades maybe make it 15-20 and try it out...

Thats why I recomment to get to know the currency well.

Hope it helps
  • #951
  • Oct 21, 2008 2:26pm Oct 21, 2008 2:26pm
Thx for your answer Dud, i dont really understand what is the difference between 5 mins fibs and 1min fibs, they should be the same based on last day high and low.
  • #952
  • Oct 21, 2008 2:28pm Oct 21, 2008 2:28pm
Quoting HUnter123
Thx for your answer Dud, i dont really understand what is the difference between 5 mins fibs and 1min fibs, they should be the same based on last day high and low.

Draw fibs manually on your 5 min chart after you see a high low reversing to see how high its gona go... then when you see its at a 50% level and reverses and you get a signal from fx prime you get in...

Drawing fib lines are a bit more advanced in using fx prime but work freakish well!
  • #953
  • Oct 21, 2008 2:48pm Oct 21, 2008 2:48pm
If you use 170 SMA close and 5 SMA close, it will be almost identical to cci 170 and 34 cci crossing zero level... so here's my idea for those who want to be alerted in advance for possible trend change. We could use SMA crossover signal indicator that can do three things... send email, play sound and show alert on the screen. Is there a signal indicator readily available for SMA crossover especially for email alert?
  • #954
  • Oct 21, 2008 3:15pm Oct 21, 2008 3:15pm
Quoting rcbarlow
Ronald,

That is why an EA has not been profitable on this system.

It would have to limit trading to the hours of 3am until 11am EST for one.

It would also have to take into consideration the 5 and 15 min charts. I, for one would require both of Williams AC & AO to be the same color on the 15 min chart and also be in agreement with the 5-3-3 stockastic. I don't know how this would be possible. Would also require the Laguerre to be in agreement on the 15 min chart.

If all that could be done, in addition to all the regular rules, it might work.
The EA was for the purpose of testing the system's entry (it's generally very good). CD and I established that this cannot be a 100% mechanical system.

#1 Is something like what I had in mind. I'm still analyzing the trades to find some sort of time-based pattern.

#2 Is something I want to try and avoid (more indicator-based filters) although I understand its importance, I feel simply adding indicators complicates the system further. I figure candle shape (doji, pin, hammer, etc) or bar formations would be more ideal.
  • #955
  • Edited 5:31pm Oct 21, 2008 5:25pm | Edited 5:31pm
HI all (1st post)

been reading this thread since day 1 then i just jumped in to the IRC channel, its good to see people helping others like CD and other traders are doiing right now, im new to forex been demo trading for 2 months now, but im not totally satisfied with the results to start out for a real account been looking for a good system and this is it, im already a stock trader (daytrading) but dont have much time to do it since its not 24 hrs a day, like forex, i love Metatrader and the advantages it gives traders to create or add there own scripts

Anyways, i just wanted to give a suggestion, with the DoublecciWooody indicator, i would do it myself but i dont completly understand the coding yet of metatrader, it would be nice if the ALERT had SOUND, Something like the QQE Alert MTF v5 WHy ? well it would be good since you can still trade and walk away from the PC/Laptop to do stuff in the house, Eat etc... or another advantage it can provide is for people that stay up long periods of time trading and they accidently fall asleep it can wake them up

PS Keep up the good work
Don't forget Practice + Patience + Persistence = Profits
  • #956
  • Oct 21, 2008 5:51pm Oct 21, 2008 5:51pm
Quoting maxzeus
HI all (1st post)

been reading this thread since day 1 then i just jumped in to the IRC channel, its good to see people helping others like CD and other traders are doiing right now, im new to forex been demo trading for 2 months now, but im not totally satisfied with the results to start out for a real account been looking for a good system and this is it, im already a stock trader (daytrading) but dont have much time to do it since its not 24 hrs a day, like forex, i love Metatrader and the advantages it gives traders to create or add there own scripts

Anyways, i just wanted to give a suggestion, with the DoublecciWooody indicator, i would do it myself but i dont completly understand the coding yet of metatrader, it would be nice if the ALERT had SOUND, Something like the QQE Alert MTF v5 WHy ? well it would be good since you can still trade and walk away from the PC/Laptop to do stuff in the house, Eat etc... or another advantage it can provide is for people that stay up long periods of time trading and they accidently fall asleep it can wake them up

PS Keep up the good work
Thanks for the nice comments!!!
Look at the canadian_dudev1.mq4 files in the attatchments here on the thread it works perfectly for signalling...
Take it easy
  • #957
  • Oct 21, 2008 8:13pm Oct 21, 2008 8:13pm
Hey CD it's great system...today I made over 370 pips with win percentage of 84%...here is the proof that this system can be incredibly profitable:
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  • #958
  • Oct 21, 2008 8:28pm Oct 21, 2008 8:28pm
Quoting bane
Hey CD it's great system...today I made over 370 pips with win percentage of 84%...here is the proof that this system can be incredibly profitable:
Attachment

Wow what a day! come and meet us in the chat!
  • #959
  • Oct 21, 2008 10:59pm Oct 21, 2008 10:59pm
Can you tell me where canadian_dudev1.mq4 is and what its used for?
Also can you let me know when the video using FIBS is ready. I never used this before.

GREAT SYSTEM so far!!!!
  • #960
  • Oct 21, 2008 11:02pm Oct 21, 2008 11:02pm
Hi CD!

Thank you for such a great system. In the time I've been in FF, I've never seen a thread achieve 5 star rating within its first week!

Allow me to make a comment based on my observation. If you recall earlier in this thread, the RSI was set at 14 as per this post.

Quoting Canadian_Dud
Sure settings for T3 RSI ARE
RSI PERIOD 14
T3 PERIOD 8
T3 cultative 0.618

then go to imputs and add the 55 and 45 levels its all you need really.

Put the t3 to the color of your background you dont need it...

You could just use the regular RSI in metatrade add the rsi to 14 and add the 45-55 levels

Thanks
Roger
Somewhere along the way, it was changed to 8.

Now here is what I've observed. If we were to keep the RSI to 14, this will filter out some of the false breakouts as seen on the chart below. The red lines is where we would have stayed out if the RSI was 14.

Another way is of course to widen the middle 'tunnel' i.e instead of using levels 45 and 55, use 40 and 60 instead.

What do you think?

What I'll do is to keep my RSI at 14 and see how it goes

Thanks again for this great system!
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