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Powerful 1 Min Scalping System (Fx Prime)

  • #1,561
  • Nov 1, 2008 7:59am Nov 1, 2008 7:59am
Quoting freemenn
Hi all,
back to the system itsevle, i just have a question:
Some times, as in the screen attached, the enrty comes to late or in a halve of a good trade.

How would you manage the trade in the attached screenshoot?
Where there any other singat of entry short that you would consider?
(but this would be out of CD rules i think..)

eg. it is still good going in when the signal comes but psicologically you see CC24 and RSI down too much and usually in that situation i will hesitate to go into a trade...




thanks for any help
Entry second system of Canadian Dude are:
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  • #1,562
  • Nov 1, 2008 8:33am Nov 1, 2008 8:33am
[quote=Flamenco143;2319229]
Quoting f4mnect
HELL NO, last time I did that suddenly every new trader who came to a thread I posted a statement on, wanted help, wanted me to sum the thread up for them so they did not have to do any work, wanted me to trade there account for them, wanted me to start a live chat and call out trades for them so they could just blindly enter trades. I have no need to convince anybody of anything, only myself. quote]
Quoting f4mnect

And others have had the same experience. So many newbees refuse to wean themselves from the 'preverbial tit', or want to be spoon fed the rest of the time with someone else always making decisions for them, and still demand proof be provided them instead of seeking truth on their own abilities and experience.

And personally I could care less about proving any of my trading successes (and failures) to anyone. My honesty and integrity is strictly a matter between me and God, (oh - and ocassionally the wife, and once the I.R.S!)
Hi Flamenco !

You're absolutely right with your statement
This is not an elementary school where everyone coming in gets
spoon feeded...

Forex is a lot of hard work and for getting to FX-Heaven you have to
work your ass off with trial and error !!

Noone could teach you in some minutes to trade successfully !!
You have to have an awesome inner desire and an undefeatable
will power to make it.....

I'm doing this for about 5 years now and I can say that without having
my experience I wasn't able to adapt this system and trade
profitable from the beginning !!

CD has presented an absolute fantastic and simple system !!

Some time ago an experienced trader said to me the following :

"If you can explain your system in about a minute and even a child
is able to understand it than you got it !!

CD => YOU GOT IT !!

Just my 2 cents

Greetings

Bernhard
  • #1,563
  • Nov 1, 2008 8:37am Nov 1, 2008 8:37am
Quoting marshy
Try this
Thank you very much, marshy. Will give it a try.
  • #1,564
  • Nov 1, 2008 9:00am Nov 1, 2008 9:00am
CD

Is there any EA for this system ???
  • #1,565
  • Nov 1, 2008 9:10am Nov 1, 2008 9:10am
Quoting at the best
CD

Is there any EA for this system ???
There has been STRONG requests by CD to NOT discuss EA's on this thread! Do your homework first, learn what's going on and THEN ask your questions!
  • #1,566
  • Nov 1, 2008 9:27am Nov 1, 2008 9:27am
Truth is that I got my account wiped out this week using the 10 pips SL. I would enter at the signal according to CD's rules and the price action would turn the other way to get my stop then continue up or down as originally signaled. Sure 10 pips is only 10 pips, but a lot of these literally put me in the negative side in my account. From $2,000.00 to $115.00 entering .5 of a lot in just 2 days. Sure, there were winners, but the stop losses out numbered the winners by a great margin.

Sorry I asked again, but I am really concerned that I am following the rules and got burned.
  • #1,567
  • Nov 1, 2008 9:38am Nov 1, 2008 9:38am
Hi Cd,
First Sorry About My Worngs In English Typing.i Have Testing This System For About One Week And I Found About 15 Signals During This Period.from Monday To Thursday All Signals Where Winner But On Friday I Just Got One Winner Signal And Other Lost.is Their Any Rule For Trading This System On Fridays?
BY THE WAY I USING THE LAST SWING HIGH OR LOW AS STOP LOST AND FOR TP I USE THE SAME AMOUNT AS SL.
Again Thanks For This Great System
  • #1,568
  • Nov 1, 2008 9:40am Nov 1, 2008 9:40am
Quoting Artifiz
Truth is that I got my account wiped out this week using the 10 pips SL. I would enter at the signal according to CD's rules and the price action would turn the other way to get my stop then continue up or down as originally signaled. Sure 10 pips is only 10 pips, but a lot of these literally put me in the negative side in my account. From $2,000.00 to $115.00 entering .5 of a lot in just 2 days. Sure, there were winners, but the stop losses out numbered the winners by a great margin.

Sorry I asked again, but I am really concerned that I am following the rules and got burned.

That was a demo account and NOT a live account right?
Starting to see instead of just looking.
  • #1,569
  • Nov 1, 2008 9:45am Nov 1, 2008 9:45am
I Demo it for 1 week with 10 pips SL. Everything good so I decided to go live, then Sunday's afternoon (US Eastern time) and Monday's morning got me on the losing side.
  • #1,570
  • Nov 1, 2008 9:51am Nov 1, 2008 9:51am
Quoting Artifiz
Truth is that I got my account wiped out this week using the 10 pips SL. I would enter at the signal according to CD's rules and the price action would turn the other way to get my stop then continue up or down as originally signaled. Sure 10 pips is only 10 pips, but a lot of these literally put me in the negative side in my account. From $2,000.00 to $115.00 entering .5 of a lot in just 2 days. Sure, there were winners, but the stop losses out numbered the winners by a great margin.

Sorry I asked again, but I am really concerned that I am following the rules and got burned.
Artifz,
That sucks. Sorry to hear that.
I use a 20 pip SL. Normally will kill the trade before it hits. Will reenter on better setup if it turns back around.

Also, I tend not to strike on the first move presented by the system rules. If it's a good trade it will let you in after a small retest. Safer approach.

You may want to consider a smaller lot size than half a full lot. I generally use .1 to .3 to lessen exposure. If you catch a good run, great, if not, it all adds up by the end of the week.

Study the HAS indie. Go back a few weeks or more and practice entries just using the change of color from blue to red to blue to red, etc. Sometimes your in and out with a small loss. Other times your along for a good ride.

MM is key to success in this business.
Hope this helps.
CCE
I get exercise just pushing my luck
  • #1,571
  • Nov 1, 2008 10:04am Nov 1, 2008 10:04am
Im sorry to hear about your loss Artifiz! I think 10 pips is to tight at the moment due to the market volatility and the increased spreads.
  • #1,572
  • Edited 10:15am Nov 1, 2008 10:13am | Edited 10:15am
What More Do You Guys Expect - A Holy Grail ? From USD$5000 (of course demo act), it has now grown to more than USD$7100 as of last Friday..... Follow the CD rules.... for me I use 30M time frame as a base and 5M time frame as an entry - using CCI170 & CCI34 plus CCI55 as a confirmation. CD trading system is great... there is no such thing as a holy grail - never exist - period. Sometimes you must take a loss.... but at the end of the day - net-net - you're still in the plus territory. Thanks a lot CD.
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  • #1,573
  • Nov 1, 2008 11:05am Nov 1, 2008 11:05am
This shout out is for Flamenco.

Some of the indicators from page #1 are outdated or improved since this thread began, some don't work at all, and there is constant discussion about tweaking certain parameters. I suppose this is true of just about every thread in this section.

You seem to have a very strong handle on this system. Maybe the best of anyone here. If you have any extra time away from your new ride could you post a current template and the list of recommended indicators? lol

Many thanks in advance!
" Average traders look to the left, great traders look to the right."
  • #1,574
  • Nov 1, 2008 11:32am Nov 1, 2008 11:32am
Hi Syahmi,

Would you please post the "Woodie CCI with LSMA" indicator?
  • #1,575
  • Nov 1, 2008 11:53am Nov 1, 2008 11:53am
hi CD, so exited to wait for your new filter....

I'm trying to integrate to the EA I posted today.

I tested on Thursday on DEMO account and it wins me about 241pip.

on Friday, I had consecutive lose trade (false signal) causing me losing about 24pip.

meanwhile, I'll be continue testing on the exit strategy and hope your entry filtering is working even better...

PS: the major drawback of the EA is support and resistance line ignorance.

the good point of the EA is it enter fast enough when the signal comes and the exit strategy I'm using 4t HAS indicator and it shows good exit point a well.
  • #1,576
  • Edited 12:55pm Nov 1, 2008 12:30pm | Edited 12:55pm
Quoting magicchance
This shout out is for Flamenco.

Some of the indicators from page #1 are outdated or improved since this thread began, some don't work at all, and there is constant discussion about tweaking certain parameters. I suppose this is true of just about every thread in this section.

You seem to have a very strong handle on this system. Maybe the best of anyone here. If you have any extra time away from your new ride could you post a current template and the list of recommended indicators? lol

Many thanks in advance!
Since it's too damn cold even for Florida to ride my new bike I have time to respond to your question. But you may not like the answer! lol
Unfortunately, I can't give you a brief answer - so bear with me. To be clear on one subject - what I do, my philosophy and 'comfort zone' and the indicators that work for me are based on MY experience and what I have learned on my own and from other 'successful' (and I stress that word!) traders.

My charts (other than using a QQE with alert instead of the RSI14 - but they BOTH give identical information) are identical to what's on Post #1. 2nd point made for clarity. I HAVE LOSING TRADES TOO!

Revisions - tweaked indicators, the implementation of EA's, adding more indicators? In almost all cases I've seen systems stop working once that starts. Evolution is not necessarily a good thing! Up to now, I haven't seen any modifications on this thread that had any major impact on it's efficiency as far as my trading goes.

What is the secret to my success? Tain't no secret - I've said it before. I learned the 'habits' of each pair I trade. I studied them for over a year before I went live again. (I quit for over a year once because I had 16 losing trades in a row on a live account after demoing that strategy successfully for a couple of weeks. That taught me humility when it comes to the forex! OK - so I'm NOT the brightest bulb in the chandelier - but I'm probably the most persistant!)

I learned WHAT each individual indicator was precisely telling me. I learned WHY they were created and the math involved. I learned to read the HAS candles, their strengths and weaknesses. I learned why and when the 'big dogs' started trading. I learned that trying to trade more than 2 or 3 pairs is not only redundant, it's dangerous!

I learned that placing more indicators on your charts is the first step on the road to failure, particularly with a scalping strategy, where you have to make almost an instantaneous decision to enter or pass on a trade. I learned that ONLY price action tells you what's happening, and that all the collection of indicators will never do that. All they do is present a visual history of price action up to the current moment. And yes, I place a certain amount of trust in the probabilities of what my indicators are 'indicating' (not guaranteeing!),

Newbies all seem to make the same mistake by overloading their charts with a variety of indicators. In scalping, you don't have time to evaluate multiple indicators! It's like the newbies believe that the more indicators they plaster onto their charts that that will somehow act as a 'magnet' and make the price move in the direction of their needs and desires.

Sorry this is so lengthy - but the principles here are important. It's like pilots fly either by VFR (Visual Flight Rules) or at night or incliment whether - IFR (Instrument Flight Rules). When scalping you HAVE to fly VFR! When a pilot is flying VFR he doesn't need an huge array of intrumentation to tell him where he is and where he is going. In other words, he doesn't need that many indicators to have a succesful flight! But he HAS learned to trust the indicators he needs to do that.

So - in my experience (other than a couple of MA's maybe) you will NEVER need more than two indicators to tell you how to have a successful flight!
But KNOW what those indicators mean, and above all, before you use them you have to know exactly what they are telling you!

3rd point of clarity! I am NOT disrepecting newbies! I was one myself for about 2 years. Even today after trading for 7 years(?) I am still learning! The road to successful trading never seems to end.
  • #1,577
  • Nov 1, 2008 12:52pm Nov 1, 2008 12:52pm
Quoting Flamenco143
Since it's too damn cold even for Florida to ride my new bike I have time to respond to your question....
Hi Flamenco !

Nothing more to be added
I hope that all the guys who read it respect it...

Greetings

Bernhard
  • #1,578
  • Nov 1, 2008 1:01pm Nov 1, 2008 1:01pm
It ain't complicated folks. And read 'Trading In The Zone'. And then re-read it! Eliminates the majority of the 'fear' and 'greed' which influences our decisions, at least it did mine and my trading partner/buddies.

Plus after awhile you really become familiar with a pair, and you almost obtain a 'sixth sense' about what it's going to do, and the times it's going to move. Not always of course - there ARE no absolutes in the forex. Also you start learning the times the money managers and pit traders make their Big Dog Trades which creates the trends. This isn't learned overnight - BUT IT IS LEARNED![/quote]

This is my first post and I am learning, unfortuately more after losing some money. I have won more then lost with CD's system which is nice for a change. My question is which author of "'Trading In The Zone' are you refering to? I believe you are refering to Mark Douglas, but there is also Ari Kiev. Thank you all for you educational input and after I double my practice account twice ill try live again.
  • #1,579
  • Nov 1, 2008 1:05pm Nov 1, 2008 1:05pm
Hi Flamenco,

Thanks for sharing your experience. It means a lot for newbies like myself.
  • #1,580
  • Nov 1, 2008 1:19pm Nov 1, 2008 1:19pm
Quoting FlaGordon
It ain't complicated folks. And read 'Trading In The Zone'. And then re-read it! Eliminates the majority of the 'fear' and 'greed' which influences our decisions, at least it did mine and my trading partner/buddies.

Plus after awhile you really become familiar with a pair, and you almost obtain a 'sixth sense' about what it's going to do, and the times it's going to move. Not always of course - there ARE no absolutes in the forex. Also you start learning the times the money managers and pit traders make their Big Dog Trades which creates the trends. This isn't learned overnight - BUT IT IS LEARNED!
This is my first post and I am learning, unfortuately more after losing some money. I have won more then lost with CD's system which is nice for a change. My question is which author of "'Trading In The Zone' are you refering to? I believe you are refering to Mark Douglas, but there is also Ari Kiev. Thank you all for you educational input and after I double my practice account twice ill try live again.[/quote]



Mark Douglas
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