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

  • #2,521
  • Nov 21, 2008 9:43am Nov 21, 2008 9:43am
Quoting f4mnect
quite a few, look threw the whole threat, many great bits of advice
Hi F4

I have been a lurker on this forum a while - a bit shy to post just incase i ask anything daft - but have been trading on larger time frames for 2 years and now moving to 1 min scalps when i stumbled on to the CD system - i was initially making some pips but the last two days have hammered me because of ranging currency and i feel your variation is one that will keep one out of the ranging market. Can i just confirm with you if this is what you do

Long

As per CD's rules plus CCI 170>50, CCI34 > 100, Both Guppy green and rising

Short

As per CD's rule and opposite to above

Once in a move we can use the 34/55 bounce to keep on reentering.

The above is when the market in trending

How would your scalping change when ranging - same rules but smaller SL and Smaller TP??

Any help appreciated!!
  • #2,522
  • Nov 21, 2008 9:50am Nov 21, 2008 9:50am
I am experimenting with the HAS using revised settings (3,90,3,2) to approximate 15m timeframe on my 1m chart. It appears to provide a quick assessment of trending or ranging market action. Also, it helps with money management so that I reduce lots or tighten stop when trading contratrend.

Is this a worthwhile consideration?
Jon
  • #2,523
  • Nov 21, 2008 9:53am Nov 21, 2008 9:53am
Sorry forgot to add - over the last few days i have also noticed a lot of triangles forming in the majors - EU/GU/UJ and also EJ

Again notorious to trade and numerous times got stopped out with CD rules. This where i think you need two things

1) A decent set of rules
2) Tighter SL and Smaller TP
3) A broker that doesn't take too much spread

and finally and most importantly the book trading the zone by mark douglas.

Finished it a few days ago - man it seriously changed one's preception of trading and has done wonders for me!!
  • #2,524
  • Nov 21, 2008 10:48am Nov 21, 2008 10:48am
Here's what I'm looking at for GJ....

H1 and H4 both look down...but have bounced a bit a create a new trendline.

M5 has a classic 1-2-3 pattern and now fxprime setting up.

Another scalping system I'm looking at went long at 140.25

What to do....

Some good signals on EU...anyone care to comment on EU?

Cheers
CanuckCT

EDIT - chart to right should say H4...didn't switch back after trendlines drawn.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ.JPG Size: 256 KB
  • #2,525
  • Nov 21, 2008 11:15am Nov 21, 2008 11:15am
I don't know for u guys, but I had to enlarge s/l to 20pips,(10pips was to tight), in this ranging market I don't belive tighter stops will resolve the problem...
  • #2,526
  • Nov 21, 2008 11:17am Nov 21, 2008 11:17am
Quoting Syahmi
Hi folks...

This indi is for those who are interested to use ONLY !!!

And for those who are very particular about repainting issues... just don't use it... Period. No further discussion.

P/S : It's 4TF (CCI set at 34) bar folks ... M5,M15,M30 & H1 at the bottom of the chart.
Thanks for posting you chart, I like it.
Barry
  • #2,527
  • Nov 21, 2008 11:18am Nov 21, 2008 11:18am
Quoting Snoop Dogg
Hi F4

I have been a lurker on this forum a while - a bit shy to post just incase i ask anything daft - but have been trading on larger time frames for 2 years and now moving to 1 min scalps when i stumbled on to the CD system - i was initially making some pips but the last two days have hammered me because of ranging currency and i feel your variation is one that will keep one out of the ranging market. Can i just confirm with you if this is what you do

Long

As per CD's rules plus CCI 170>50, CCI34 > 100, Both Guppy green and rising

Short...
Although I will not comment on ranging or other stuff but i want to get your basics right on Fxprime system.
Long: When CCI170 is above 0 ALREADY And CCI 34 crosses up 0 And rsi above 55.
Short: When CCI170 is below 0 ALREADY and CCI 34 Cosses down 0 and rsi is less then 45.

Please not that many people here making mistake of thinking that of both CCIs are above 0 then go long after rsi is above 55 and go short when both CCIs are below 0 and rsi goes below 45.
Make sure you enter trade when you see CCI34 crossing 0 in the direction of CCI134.
Also DO not forget to see 5Minute chart to confirm your entry.
If anything is still not clear let me know.
Btw there is more to this ......You need to watch S/R, Fib and pivot lines.
And FOCUS on CD'S SYSTEM...STRICTLY unless you know what you doing.
Thanks
  • #2,528
  • Nov 21, 2008 11:25am Nov 21, 2008 11:25am
Quoting gasgas
I don't know for u guys, but I had to enlarge s/l to 20pips,(10pips was to tight), in this ranging market I don't belive tighter stops will resolve the problem...
Ya stops for me depend on the pair I am trading, for example gbp/jpy moves alot, I would have a high stop on a pair like that. I mainly trade gbp/usd it is my favorite, so I use a 30 pip stop it moves faster to me than eur/usd. Plus depends on how the market is moving.

I will try to post this weeks trades later today.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #2,529
  • Nov 21, 2008 11:25am Nov 21, 2008 11:25am
Quoting toonsmania
Although I will not comment on ranging or other stuff but i want to get your basics right on Fxprime system.
Long: When CCI170 is above...

HI there

I know that the 34 has to cross in the direction of the 170 and that's when you take the trade but this will still burn you on a ranging market. I think what fm4nect point was to enter once a trend has establised so for a long ie CCI 170>50 and CCI 34 > 100 would /may keep you outof a retracement - at least that's my understanding - i may be wrong - may be some clarification from the legend himself??
  • #2,530
  • Nov 21, 2008 11:56am Nov 21, 2008 11:56am
Good time every1,
This thread has been home to me.
From my analysis, we have:
1) People who want to understand this system. Pls lets always refer them to start from the first post.
2) There are those who understand the limitations of this system;like knowing how it burns on a ranging market. Pls lets always give a way out.
Nobody can doubt the good pips many get from this system if the market is trending. God bless CD and God bless us all. But i wish CD will provide an account where some may show there appreciation .......in cash.
  • #2,531
  • Nov 21, 2008 12:58pm Nov 21, 2008 12:58pm
Here is my trades from this last week and yes some bad ones, but ya gotta follow the rules right? Right!!!
The one trade for 1380.00 nice trade but simply by accident. I opened the trade and forgot tp sl and went to bed, the forex gods were on my side.
But enough said this is still a good system. For you new traders it takes time to learn forex, and this is scalping.

So My Bad trades and what I did wrong::

Trade 26694960 I entered the trade way tooooo late plus the 34cci crossed before the 170 cci. I have gotten good trades with the cci 34 crossing below 0 first but beware they are more risky as you can see here.

Trade 26959034 Again I entered too late in the trade great trade if I would have entered earlier right after the cci 34 crossed the 0 line

Trade 26981879 This is what happens when you have two plattforms with a 5 min and a 1 min chart and get stupid like me, and place a trade on the wrong pair. I hate it when that happens. So I panicked and closed the trade.


Well lessons learned, I just wanted to point out the good and the bad, I mean the bad, and what happens when you don’t pay full attention to your trading……. So if you hit the buy instead of the sell in a rallying market you most likely are not alone. I think we all have done that more than once.
So take the losses and forget them, and move on to the next signal remember being persistent can pay off…….


Good luck to everyone and keep positive and have a productive week next week. And keep trading the fxprime

The statement is in the zip along with a picture of my 6 mo old grandson from halloween.
Oh and thanks CD
Attached File(s)
File Type: zip DetailedStatement22.zip   390 KB | 826 downloads
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #2,532
  • Nov 21, 2008 1:20pm Nov 21, 2008 1:20pm
Quoting kinonen
:::::::::::::::::::::::::::::::::::::::::::::::::
Line Blue is CCI170
lightblue line is CCI34

histogrammes are RSI 8 (for reason of clarity i have X2 the valor of RSI)
so when you put your mouse on histo you have RSIX2

kinonen
Great work Kino...everything rolled into one. Just one little problem--sometimes it is hard to see the blue lines because they are under the histo bars. Any way to fix this?

But thanks for the great work

Greg D
  • #2,533
  • Nov 21, 2008 1:24pm Nov 21, 2008 1:24pm
fxtrading24,

very nice statement, all the congrats mate, and only in one week, very nice to look at that success, so we all know what can be done if using it right...
Weekend is here, enjoy everyone and prepare for next week pip hunting
  • #2,534
  • Nov 21, 2008 5:14pm Nov 21, 2008 5:14pm
Quoting fxtrading24
Here is my trades from this last week and yes some bad ones, but ya gotta follow the rules right? Right!!!
The one trade for 1380.00 nice trade but simply by accident. I opened the trade and forgot tp sl and went to bed, the forex gods were on my side.
But enough said this is still a good system. For you new traders it takes time to learn forex, and this is scalping.

So My Bad trades and what I did wrong::

Trade 26694960 I entered the trade way tooooo late plus the 34cci crossed before the 170 cci. I have gotten good trades with the...

Well done...Are you sticking to CD original system without any embellishments!!
  • #2,535
  • Nov 21, 2008 5:22pm Nov 21, 2008 5:22pm
It's obvious from the lack of clarity from fxprime in a ranging market that it is NOT a pure scalping system. I would say it is a 'trending scalp-system' for this reason. But maybe we can improve fxprime to make it signal more reliably in a ranging market:

Now I am far far from an expert at this game or with indicators but as I understand it the 170cci will pick up on medium term (3hrs) cycles in the price action? Now for a trending market this works well but a ranging market has NO medium-term observable cyclical movement right? For this reason would it not make sense to abandon the 170 in a ranging markert and say alter the values to 70, 40 or 20 etc?

Is the 170 a reflection of the markets usual trends? In that it is the best analysis period which catches the movement of the average trends? If so we could observe the micro-trends in a specific ranging market and arrive at the best figure for our 2nd 'ranging cci'? This may mean altering the cci values every 20mins? Perhaps an indicator could be written to analyse the size of the micro-tend ocilations and alter cci values real-time?

Does this make sense? Forgive me for any misunderstandings, like I said I'm new to this but eager to learn and improve the proven fxprime system.

steve
  • #2,536
  • Nov 21, 2008 6:08pm Nov 21, 2008 6:08pm
just wanted to say hello to everybody, long week. just woke up. I hope everybody had a good week
  • #2,537
  • Nov 21, 2008 6:23pm Nov 21, 2008 6:23pm
Quoting f4mnect
just wanted to say hello to everybody, long week. just woke up. I hope everybody had a good week

Hello back fxcmnect how ya doing. I had a great week....
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #2,538
  • Nov 21, 2008 6:30pm Nov 21, 2008 6:30pm
Quoting stevexyg
It's obvious from the lack of clarity from fxprime in a ranging market that it is NOT a pure scalping system. I would say it is a 'trending scalp-system' for this reason. But maybe we can improve fxprime to make it signal more reliably in a ranging market:

Now I am far far from an expert at this game or with indicators but as I understand it the 170cci will pick up on medium term (3hrs) cycles in the price action? Now for a trending market this works well but a ranging market has NO medium-term observable cyclical movement right? For this reason...
Yes I can see your point, but lately if it is ranging i say out . It depends on the ranging market, some times you can scalp for 2-4 pips just by adding lines from the hi and the low and trade between the lines. Just more risky to me.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #2,539
  • Nov 21, 2008 7:51pm Nov 21, 2008 7:51pm
Quoting Gittus
Well done...Are you sticking to CD original system without any embellishments!!
Yes I use CD's system. Have been for some time now, Just be patiant with it and follow the rules and you will do fine.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #2,540
  • Nov 21, 2008 11:01pm Nov 21, 2008 11:01pm
FXTRADING24,

In regards to the statement you showed a couple of pages back, is that a real statement, or do you just trade on a demo account?

Cheers.
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