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Powerful 1 Min Scalping System (Fx Prime)

  • #2,761
  • Nov 26, 2008 12:02pm Nov 26, 2008 12:02pm
no worries, Happy Thanksgiving everybody. Charts are closed, Bottle of JACK opened. I'm on holiday, see you next week. That shot was for you guys. ohh and here is a chart, I took 3 longs and 1 short. I'm thinking beginners won't see the trades very well. why I try and focus on a certain signal in my screen shots. Think it's easier to see. Finished day +193 and here's a screen shot that shows closed trade. I don't think it makes sense. I need to look into that script and see If I can have it show info on a trade better. because zoomed out showing days trades, there a mess and stacked up

Quoting blanca
f4mnect,

dont worry, if you cannot show us your trades today, i know its thanksgiving, hope you bake all well, did not mean to bother you, dont worry if i beleive you or any one here or not, itīs that posting just a small part of the chart makes it look tricky specially that the only trades you post are positive ones just my humble opinion but if you dont care to look confusing its not my problem either. thanks my friend for your kindness in such an important day
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  • #2,762
  • Nov 26, 2008 3:36pm Nov 26, 2008 3:36pm
Just trying to confirm the 34/55 bounce
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  • #2,763
  • Nov 26, 2008 5:05pm Nov 26, 2008 5:05pm
hey f4mnect, thanks for your help and excellent work on your trading day. this system is definitely is not for the faint of heart. I took about 4 trades with the losers taking more precedence over the winners. that's ok though because this system is new to me and takes a hell of a lot of concentration. I think that the 1m moves too fast for me at the moment so I might have to focus on testing this strat on a 5m chart. If I was able to employ a trailing stop that might help me in some fashion as the market will go quickly in a certain direction and I cant move fast enough to lock in the pips etc. I will continue testing the 1m though as it can be quite potent but as you said, you refocused and tried to employ the strategy harder and it has been paying off for you. Just need to work hard at this and maybe I too will get through.

out of curiousity, how long have you been trading, forex and in general? I know you said you spent something like 3 years learning and reading, but I do not know if that is your entire forex experience or total trading experience.

peace out everyone.
  • #2,764
  • Nov 26, 2008 8:15pm Nov 26, 2008 8:15pm
Quoting f4mnect
hummm missed my entry on gbp/jpy....humm think I'll wait and see if we get a 34/55 bounce. was away from comp for 1st but just banked 50 pips on 2nd bounce and even a better bounce because daily open line was right there for support also
Hello F4mnect,

I was updating on the thread, and founfd that you added a new line (Blue one) that wasnt in your previous charts. What is that for?

Thnx
  • #2,765
  • Nov 26, 2008 9:30pm Nov 26, 2008 9:30pm
Has this indicator been fixed, or is there another version where the alarm works?, .....if not, can someone please take a look and code it for the alarm to sound when the arrow appears. I tried but cannot see what is wrong.
Attached File(s)
File Type: mq4 ARROW_RSI-8_CROSS-55 45.mq4   7 KB | 483 downloads
  • #2,766
  • Nov 26, 2008 10:06pm Nov 26, 2008 10:06pm
I ran some basic tests on this trading method and here are the results:

Data:
1 minute , from 2007/05/25 to 2008/11/26
-----------------------------------------------------
Entry Rules:

Long
CCI34 > 5
CCI34 < 0 // previous bar
CCI170 > 0
RSI8 > 55

Short
CCI34 < -5
CCI34 > 0 // previous bar
CCI170 < 0
RSI8 < 45
------------------------------------------------------
This test does not use the HA filter or stops it exits the trade after n bars where n is from 0 to 120 assuming the system should be profitable after 2 hours
the purpose of this test run is to find out if this predicting method has any value to it

As you can see the best results ( smallest net loss and least DrawDown) is around 85 bars after the entry
How ever the system is never profitable. This does not mean it can not be tuned to be profitable
I'm already running a test which includes the HA filter and I will post it when done.

I'm very curious if I'll be able to come up with a filter / money management method that can bring the equity curve to the positive side

Please comment
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  • #2,767
  • Nov 27, 2008 2:55am Nov 27, 2008 2:55am
[quote=eurolinux;2380637]I ran some basic tests on this trading method and here are the results:

Data:
1 minute , from 2007/05/25 to 2008/11/26
-----------------------------------------------------
Entry Rules:

Long
CCI34 > 5
CCI34 < 0 // previous bar
CCI170 > 0
RSI8 > 55

Short
CCI34 < -5
CCI34 > 0 // previous bar
CCI170 < 0
RSI8 < 45
------------------------------------------------------
This test does not use the HA filter or stops it exits the trade after n bars


....
very interested by your work , just want to know how do you make this ?
i'm always doing indies and EA so if you can tell me , i'll thank you
i make an indic with all you've mentionned in your post
kinon
  • #2,768
  • Nov 27, 2008 7:46am Nov 27, 2008 7:46am
Quote
....
very interested by your work , just want to know how do you make this ?
i'm always doing indies and EA so if you can tell me , i'll thank you
i make an indic with all you've mentionned in your post
kinon
thx
I'm trying to contribute with something useful instead of posting senseless crap. you should know you odds before you put your money in the line

This can be done with any package that has an optimizer and sys performance viewer, TS, Ninja, WealthLab....look around
------------------------------------------------------------

Ok so here is the run where I included the HA filter

The results start to look a little better
on the opti charts you can see that the interesting levels are 40 bars and 70 bars after taking the position ..... then later 115 bars but I'll exclude that for now

see the equity curves for the 40 and 70 bar exit methods and then the Maximum MAE on winners and MFE on losers
Now we can start tuning this find the levels where we can set stops, unload 1/2 of the position and set breakeven stops
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  • #2,769
  • Nov 27, 2008 8:27am Nov 27, 2008 8:27am
Quoting eurolinux
thx
I'm trying to contribute with something useful instead of posting senseless crap.

OK... can I ask you to try harder?
Just pulling your leg.

I can't work out what is going on with your charts here but just to reinforce the fact that the system is not meant to be automatic and good use needs to be made of fib lines and S/R. I would also question the exit points you are using. It is clear that waiting for the 34 to retouch 0 looses pips from the high/low and trading live I think people should be using their judgement based on price action and s/r to estimate exit point.

Having said that the info on trades mostly hitting 5+ pips is very interesting so good work would like to see some more results.

update: what exit method are u testing? Set 40bar exit? There is a set exit strategy - when 34 retouches zero line.

steve
  • #2,770
  • Edited 9:11am Nov 27, 2008 8:57am | Edited 9:11am
Bad Day yesterday(out side of trading...Don't ask) but home for the holidays now aghhhh. Here's something to look at, Not trades I took, But examples that were looking at. Me and my 2 trade partners are trading my exact charts, but there winning about 50% where I'm still at about 85%. we were comparing trades. there are differences in our entries. somebody brought up cherry picking...well hell yes i cherry pick my trades and now were seeing how. on my bounce trade, I'm only taking them when everything is pretty clean and triggering at roughly the same time(with in a few bars) CCI/Stoch/Ma's all at once. plus I'm not taking every signal and waiting on much cleaner set ups. eur chart shows a dirty signal, then a clean signal. chf chart 2 very nice longs. ok well cherry picking charts, lol those 2 are live and right before me now, no looking back for examples. ohh and last eur signal, no trade, no direction, wait for it to pick a direction 1st. also know wicks scare me, a chart full of long wicks every which way, means no trades to me, i'll wait
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  • #2,771
  • Nov 27, 2008 9:15am Nov 27, 2008 9:15am
Quoting f4mnect
I'm only taking them when everything is pretty clean and triggering at roughly the same time
Hi mate hope yer troubles not too bad.

It looks like your first eur trade u entered not exactly on the cross of 0 as per sys but a bit after when signal passing -50? Is this your typical entry timing? And is this what saved u from entering the final possible entry as it looks good at the cross but stoch comming up with entry signal at -50?

cheers, steve
  • #2,772
  • Nov 27, 2008 9:28am Nov 27, 2008 9:28am
Quoting stevexyg
Hi mate hope yer troubles not too bad.

It looks like your first eur trade u entered not exactly on the cross of 0 as per sys but a bit after when signal passing -50? Is this your typical entry timing? And is this what saved u from entering the final possible entry as it looks good at the cross but stoch comming up with entry signal at -50?

cheers, steve
no trades I took, we were looking over market just talking screen shots we were passing back and forth. 1st entry cci and stoch not aligned enough stoch out ahead of cci, 2nd trade they were working together, after that no movement, wait and let market pick a direction, after things re start up, re think if charts clean and will work for u, also if a less than clean entry, take profit quickly, dont let become a loser.
  • #2,773
  • Nov 27, 2008 9:46am Nov 27, 2008 9:46am
ok how i'm managing a open trade. i'm seeing this is different too. find good trade, enter trade, set a stop right then, i'm trading 10 pips plus spread stops. then drop trailinglines1 script on chart, double click red line and move it to hard stop line. open trade close window have it set to side for quick exit if needed. then i start moving trailingline stop line with trade, 1st i'll 1/2 my stop, so say start with a -14 pip stop, i'll set at -6 or -7 as trade gets positive, around 10 pips stop line dragged to be, then i'm either closing trade then or starting to move stop line behind trade locking in pips as move goes. with close trade window still sitting to side open for quick exit if trade hits a level i want to tp on
Attached File(s)
File Type: mq4 TrailingLines1.mq4   5 KB | 618 downloads
  • #2,774
  • Nov 27, 2008 10:01am Nov 27, 2008 10:01am
Many thanks for the posts f4mnect. However is it just me or am I spotting CCI settings of 89 and 21, when did these crop up lol.
  • #2,775
  • Nov 27, 2008 10:24am Nov 27, 2008 10:24am
Quoting deepblue27
Many thanks for the posts f4mnect. However is it just me or am I spotting CCI settings of 89 and 21, when did these crop up lol.
lol i have been hiding my setting for a week, thats what i'm trading and stoch different too, the 2 ma's on chart, cd posted asking us to check them out 6 and 12 ema
  • #2,776
  • Nov 27, 2008 10:35am Nov 27, 2008 10:35am
Quoting f4mnect
lol i have been hiding my setting for a week, thats what i'm trading and stoch different too, the 2 ma's on chart, cd posted asking us to check them out 6 and 12 ema
What if you use 5 and 10 instead of 6 and 12. I had that on some previous trading systems and works well too.
  • #2,777
  • Nov 27, 2008 11:19am Nov 27, 2008 11:19am
hey f4mnect, thanks for that post describing your settings and how you are cherry picking your trades. I think for me right now, the 1m is very rigourous and I don't think I can keep up with the speed of things. you really have to be focused and nimble to keep up on this level. Examining your charts, I saw something interesting however, and maybe you did too. Some of the better trades that were present on that chart occured when the CCI was above 100 (aside from the fact that they all lined up with the same colour). I know that someone had mentioned that earlier as a filter for trades and while I was overlooking your chart I looked for various combinations as to why those trades were good I noticed how effective that filter can be. I too notice that when most of the indicators line up, around the same time ( I am trying to stick to between 1-2 bars after the one indicator fires off), that good trades tend to follow. Sticking to that regime would be good practice for me and others I think. I have seen some trades that are good in which the indicators fire off not so close together but those are more rare and can cause losses, more so than those trades that line up around the same time.

For me, modifying this on a 5m system, I will wait for the CCI to be above 100 to show me that the trend strength is good. It will help me to trade less and cherry pick the best trades as I am not as nimble as you.

peace out and thanks again for your help.
  • #2,778
  • Nov 27, 2008 11:38am Nov 27, 2008 11:38am
you know what, when u have a clean chart, movement and a very pretty signal, very high probability trade, other times when a move happens with a not so good set up. who cares u can not bank ever pip on a chart, take the "A" trades. there are plenty of them, they do add up and for me as i started taking only the really nice signals, and winning most of them, it got easier to keep taking that set up and build confidence in my charts, that set up and myself. crappy signal, markets moves 100 pips, so what, take that crappy signal and more times then not, will be a loser and add stress to your trading.
  • #2,779
  • Nov 27, 2008 12:21pm Nov 27, 2008 12:21pm
Quoting f4mnect
you know what, when u have a clean chart, movement and a very pretty signal, very high probability trade, other times when a move happens with a not so good set up. who cares u can not bank ever pip on a chart, take the "A" trades. there are plenty of them, they do add up and for me as i started taking only the really nice signals, and winning most of them, it got easier to keep taking that set up and build confidence in my charts, that set up and myself....
hi f4mnect , thanks for revealing your setting , one thing i managed to change the setting in Bollinger Squeeze vStoch to 5,3,3 , but i cant change it to 5,1,3 ..can you please tell me how to..thanks
  • #2,780
  • Nov 27, 2008 12:46pm Nov 27, 2008 12:46pm
Hey ppl ~~ I have tried fxprime system for some time , and went to the room of the system's discussion , so i have to say some words :
first of all , thank you CD for this great system it is really geat especially the inds adjustment they helped me alot ,
Secong of all , I would like to to share my experisnce using this system ,
first time I downloaded the tpl and the indecaters , it looked really complicated , so i had a lot of dificulties trying to figure it out , but after some time , i got the chance to understand it , I used it along with my normal strategy and it really boosted my correct trades precntage 5% more which is great !!! really !!
but i have noticed that alot of the traders who use this system had never had the chance to learn any technical anlysis course nor self studied it , so their mistake rate was big .
actually after thinking alot , i have came with an idea , i know i am nothing to give ideas , but i just felt that i need to share it with ppl and traders in the system ,
why can't the cd system add some more stuff , technical stuff , so ppl know the reasong of the indicater's move , and that would really help ppl to know when it's a bad signal ,
Well i will share what i added and hope you would haelp me and correct anything that i gave wrong :
First i added strong pivots and ema (for me ; 21 50 89 200 ) that would help the trader get the idea better on where a resistance or a support is , and just wait for the touch and confirmation on cd system ,
second i used classsical technical anlysis methods to help me on the way , like patterns , candelistics , supports and resistants , manual fibos , trends etc ,
with all of these technics and the way to use them , thay all help one to make the right choice on what trade to choose and what's not .
on fxprime tradings , there is a rule of sl and tp , and i think that sl and tp should be based on Supports and resistants , which would make better chances to avoid hitting sl and too early closing ,
Have a great day ppl and hope i hear your comments .
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