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

Guys try not to introduce too many indicator, lets try our best to evaluate this system.

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anyone having idea if the price just breaking the FIBO, do we enter the trade?
Quoting DirkH143
Hey Konstas,

Got a question about your \"Elite\" system. How do you filter out false signals?

D.
I PRAY!

...I think Flamenco wrote about false break outs a couple pages ago - you just can't avoid them - it doesn't matter how many indics you put on your chart.

some people put RSI with 45-55 lines - I checked if it helps and what do you think???!! 99% it confirms the entry - and then it turns around anyway, another 1% it lags a lot and you enter later! just check for yourself - it doesn't filter anything - it just take space on the screen. so I don't use it.

you can't filter false breaks - the only thing you can do - to get out as fast as possible!!!
mcFly: Tried setting the T3 RSI to 34 for the T3 setting and 8 for the RSI setting, even tried with the RSI period set to 34, cant get it to look as smooth as yours.

Any reason why yours seems much smoother?

Any help on this would be appreciated. Thanks
Quoting Konstas
I PRAY!

...I think Flamenco wrote about false break outs a couple pages ago - you just can't avoid them - it doesn't matter how many indics you put on your chart.

some people put RSI with 45-55 lines - I checked if it helps and what do you think???!! 99% it confirms the entry - and then it turns around anyway, another 1% it lags a lot and you enter later! just check for yourself - it doesn't filter anything - it just take space on the screen. so I don't use it.

you can't filter false breaks - the only thing you can do - to get out as fast as possible!!!
Thanks Konstas,

On the Elite system, I noticed that when you jump in when 3ema and 34sma crosses and you stick in it until it crosses again, you make some profit. Not as much as if you would pay attention to the exit you should take when it retraces. You have to act fast and keep your eyes open. It works pretty good on the EUR/JPY.

D.
any better filtering and exit strategy?

I think the entry is just nice, we cant expect a 100% correct signal, but atlease 80% correct....

now the main problem is exit strategy...
Have been trading this simple system for a week or two - takes a bit of time to get the timing but this is the most fun I have had for awhile trading forex.
Thanks CD for all the time and effort you have put in thus far. Have only had on average one losing trade out of ten. Up about 340 pips in last two days and more are on the way. Also want to acknowledge flamenco for his input as well. Also sometimes there is no exit strategy other than making a profit - large or small.....
Thanks from a fellow canuck.http://www.forexfactory.com/images/icons/icon10.gif
Quoting Konstas
This is so FUNNY... I have developed the same system as CD! Absolutely the same (except exit rules)... and here we go, here is the thread with more than 1600 posts discussing it.

All the glory to the guy who started the thread, (I don't mind), my glory is my account. I've traded it for exactly 1 month and I have 200% growth of my account. I trade part-time, risk only 1%, and only with 1 pair. Since, nobody shares his results here, I don't really know if my exits are better than CD's, or not.

FLAMENCO - good to see you here! I see, you are like a guru here - that's great! Nice bike by the way. EVERYONE - listen to FLAMENCO; he knows what he's talking about.

Although, my system is similar...

hello Konstas, the indicatore you show on the lower parte of your template, is the woodycci? what are the parameters?

Regards,

Alejandro
Quoting atisnado
hello Konstas, the indicatore you show on the lower parte of your template, is the woodycci? what are the parameters?

Regards,

Alejandro
Hey,

Since Konstas isn't in the chat right now, allow me.

TrendCCI_Period 170
EntryCCI_Period 0
LSMAPeriod 25
Trend_period 5
CountBars 1000
CCISize 2
TCCISize 1
TrendSize 1
No TrendSize 1
ShowLSMA false
LineSize3 1

These are the inputs.
The indicator is the CCI_Woodies_Lnx_v4.

Glad could help.

D.
thanks for answer
Quoting Konstas
thanks for answer
Hey Konstas,

Can you answer my question above (1833).

Thank mate. Your answers ae always appreciated.

D.
Quoting DirkH143
Hey Konstas,

Can you answer my question above (1833).

Thank mate. Your answers ae always appreciated.

D.
I would love to answer... but I don't see the question there!!
Quoting Konstas
I would love to answer... but I don't see the question there!!
Hold on a second.

Here was the question.
"On the Elite system, I noticed that when you jump in when 3ema and 34sma crosses and you stick in it until it crosses again, you make some profit. Not as much as if you would pay attention to the exit you should take when it retraces. You have to act fast and keep your eyes open. It works pretty good on the EUR/JPY."
Am I on the right track with this assumption?

D.
I don't trade pure Elite anymore. there are some suggested exit rules:
1. crossover to the opposite direction.
2. retracement of 100, 200, 300 on CCI
3. 10sma

I trade Elite on 5m now - I just put 34sma of 5m chart on 1m chart - (5*34=170). I prefer to take profit by portions. 50pips, 100 pips 150 pips and so on, because it can retrace a lot and your 100 pip profit can appear as 25!!! I just can't stand it!
I also add positions on crosses of 3 and 34 on 1m, according to FXPRIME in the same directions - and I take 25 pips or exit on opposite crossover.

exits are personal choise! it's up to you!
I evaluate every week on Fri night - and count what would I have if I exit by this rule, or that rule or another one - I hope to get enough data to make the best exit rule in the future - now I stick to my plan.
Quoting DirkH143
Hey,

Since Konstas isn't in the chat right now, allow me.

TrendCCI_Period 170
EntryCCI_Period 0
LSMAPeriod 25
Trend_period 5
CountBars 1000
CCISize 2
TCCISize 1
TrendSize 1
No TrendSize 1
ShowLSMA false
LineSize3 1

These are the inputs.
The indicator is the CCI_Woodies_Lnx_v4.

Glad could help.

D.
Thanks Dirk for the info

Alejandro
Quoting skybiz007
Hi Necre

The stop loss was way to close for the Gbp or any pair for that mather on that spike. Either wait for retrace after spike or place stop loss below Gann to have a safty net. If stop is to big for you just wait for retrace so when you place your stop loss below the Gann it is 10 or 15 pips from your entry. It's not part of CD's system but it work for me.
@ Hi skybiz,

Thank you for your sugestion regarding gann. Maybe i will start to use it. On the other hand i`m afraid that if i let myself to use more indicators on the chart i will mess up the KISS formula that proves so eficient. Anyway i will try this gann indi. Thanx again.

@ Flamenco,

I also want to thank you for your advice. I will be more careful with these spikes.

@ All,

Having in view that Obama is the new USA President, do you aspect a bulish USD rally ?

Big pips to all

Necre
another 30 pips in the bank after a 34/55 ma bounce, I just love that trade.
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banked another 20, I'll stop posting screen shots
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Its a shame the web site is all about the NON PRIME FX EA. Not worth watching anymore
Quoting oztrader
Its a shame the web site is all about the NON PRIME FX EA. Not worth watching anymore


bummer, don't personally use the web site, so no idea
Quoting f4mnect
another 30 pips in the bank after a 34/55 ma bounce, I just love that trade.
Firstly I would like to congratulate CD for posting such a good trading system which is so easy to learn.

Secondly I would also like to thank all contributors to this thread, I like the thought provoking comments posted.

Finally my question is directed to f4mnect. What is the yellow line added to your chart in your recent posts, what are the setup parameters and how do you use this indicator in your trading ?

Many thanks in advance
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