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Powerful 1 Min Scalping System (Fx Prime)

  • #2,901
  • Dec 1, 2008 11:17am Dec 1, 2008 11:17am
Quoting stevexyg
Hi lynch fan,
if u check the guidlines u will see there are only 4 entry signals on this chart - 1 bad and 3 good.
The poor short trade if following rules will lose u 5-10pips. The three good trades if following rules will break even. However if u take 10 or 20 pips on the good trades and don't wait for the 34 to re-touch u would be up 20-40 pips. Just my interpretation of this chart, happy to hear any other opinion.
steve
Yeah. You are right. But the last two trades are not valid after the pure rules. The cci34 has to follow the cci170. But they are so close together i would have taken the trades.
The crossings in the middle are not valid because the rsi is under 55.
Edith: This is not really true, but when the rsi is over 55, the cci is falling already. Therefore i would wait for confirmation.
cheers
rob
  • #2,902
  • Dec 1, 2008 11:21am Dec 1, 2008 11:21am
Hi,
I'm trying to create an EA and I'm unable to ask for the value of the Bollinger Stoch.

I'm trying with

double BollStoch=iCustom (0,0,"Bollinger Squeeze vStoch","0","0",1,5,50,14,i);

However I don't get values.
Any ideas?
  • #2,903
  • Dec 1, 2008 11:27am Dec 1, 2008 11:27am
Quoting Batoobah
Hi,
I'm trying to create an EA and I'm unable to ask for the value of the Bollinger Stoch.

I'm trying with

double BollStoch=iCustom (0,0,"Bollinger Squeeze vStoch","0","0",1,5,50,14,i);

However I don't get values.
Any ideas?
Check the value you're asking. It's not the main signal but one of the others, I think it's #5 for Stoch.

You can try this:

double BollStoch=iCustom (0,0,"Bollinger Squeeze vStoch","0","0",1,5,50,14,5,i);

See the 5?

Hope this helps.
  • #2,904
  • Dec 1, 2008 12:02pm Dec 1, 2008 12:02pm
One question: to enter a trade, the candle needs to be closed, right? So you enter on the next open?
  • #2,905
  • Dec 1, 2008 1:17pm Dec 1, 2008 1:17pm
Quoting eraserhead
hi guys first time here. testing this method. a question for you:

how to avoid those false signals...
If you're trading a system based on probability, the cost will be based on probability.
If the method you're using works consistently, those 'false' signals would be your cost of making business, the meat you have to buy in order to sell it in your restaurant and make a profit.
The trick, as always, is having lower costs and higher profits.
  • #2,906
  • Dec 1, 2008 2:18pm Dec 1, 2008 2:18pm
Quoting eraserhead
when market is choppy this system like every system is ... a mess
thanks, erazer,
yes indeed that is right due to the nature of the system. It is trend-based and in choppy situ there IS no trend. I was going to add that only the first 1/3rd of the chart is in (the tail end of) a trend. Look at larger TF to avoid trading choppy messes!
steve
  • #2,907
  • Edited Dec 2, 2008 3:30am Dec 1, 2008 4:31pm | Edited Dec 2, 2008 3:30am
Some of my trader friends have asked me to share how I have traded CD's system so successfully. I only wish to address one topic only which is the HA candles. I was taught this about a year ago by a Big Dog at a large European Bank (if THEY use it to determine trend reversals it has to be good!) and it really helped my trading in ANY time frame. I use these candles solely on whatever strategy or time frame I may be trading. I am offering them up only as an alternative way of reading candles other than the HAS which I find lag too much.

Instead of the HAS candles I use the regular Heiken Ashi candles overlaid on the regular bar candles. (Green for up, black for down). The HA candles are regular white and red.

As I am monitoring the trade I watch closely for an 'Alert Candle'.

The alert candle:

1. The appearance of an Alert Candle is your FILTER.
2. correct alert candles simply have stems ABOVE AND BELOW; they are small to moderate in size.
3. they can be any color combination, however chili peppers (green and red)and zorros (black and red) are ideal.
4. the BEST alert candles will CROSS and close OVER the Blue 3 SMA.
5 the alert candle is NOT the entry candle!!! DO NOT ENTER on an alert candle.
6. If you enter on an alert candle, you'll probably be sorry.
THE ENTRY CANDLE: You must WATCH the entry candle develop to make your decision.
1. The Entry Candle must obviously have the right HA color for your direction.
2. It must have the correct stem color for your direction...wait till you get it!
3. The "preferred" entry candle should only have the stem going your way.(not an absolute rule however).

I have attached a template, the Guppy25 which I use as my 'trend wall', and a photo of the chart showing some 'alert candles'. (Green arrows shows alert entries and red arrows shows alert exits. May not be right on the money but darn close. I just added them so you can get an idea)

The blue line is my 'signal line'. It's just a 3SMA , shift 3, close. Just add it to your chart from your standard indicator list.

As far as indicators go, use the ones CD OR f4mnect's has. In the long run it really matters little if you use the 34/170 or some other combination of values there. In one case you'll be robbing Peter to pay Paul, and in the other case you'll be robbing Paul to pay Peter. In other words, you may get in a trade earlier with one set of values but you will also be EXITING sooner, so you may get the earlier pips, but you'll be exiting earlier and possibly leaving pips on the table so to speak. That's gonna be your choice. But whichever ones you decide to use STICK WITH THEM until they become your best friend. Don't be bouncing around from one set to another. Then you'll wind up being an expert in none, and a novice in several.

If we were all the same we'd all be driving red Buicks and listening only to Abba. (Dang - I'm dating myself again aren't I!)

I'm leaving for the Philippines and California in the next couple of days, so I'll be gone for 6 weeks. I NEVER trade in December or the first 2 weeks of January. Most of you should know why by now, or you'll soon learn! lol

I don't know if I can add anything here which will make it clearer. If you choose to substitue the 'Big Dog' candles for the original HAS then all I can advise (STRONGLY) is to watch for those alert candles and get to recognize them. It doesn't take long before they start popping out at you and giving you a clear signal that a trend change is HIGHLY probably. They're quicker and more responsive than the typical dojo type candles.

I trade only short if candles are below the 25Guppy, and long if they're above. You also can get a clearer picture of when the market's start ranging when the two lines start coming together.

If I inadvertantly left a strange indicator on that chart just disregard it. It has nothing to do with CD's strategy.
I may post here again once I return. Most times I'm just too busy trading, or playing my guitar for a dance troop down in Tampa.

P.S. I should add that these 'Big Dog Candles' are also known as 'Randy Candles' by Goldenequity. I'm only passing on a really nice, profitable way (new?old?) of reading candles that someone else created and is using. He also incorporated the 2 MA's. I didn't mean to give anyone the impression any of this was my creation. I just named it "Big Dog Candles' when I orginally made out the template long ago because that's where I first heard of them.
Attached Image (click to enlarge)
Click to Enlarge Name: scalping chart.gif Size: 19 KB
Attached File(s)
File Type: ex4 Guppy25.ex4   3 KB | 955 downloads
File Type: tpl big dog ha candles.tpl   2 KB | 867 downloads
File Type: ex4 Heiken Ashi.ex4   3 KB | 748 downloads
  • #2,908
  • Dec 1, 2008 4:52pm Dec 1, 2008 4:52pm
Quoting Flamenco143
Some of my trader friends have asked me to share how I have traded CD's system so successfully. I only wish to address one topic only which is the HA candles. I was taught this about a year ago by a Big Dog at a large European Bank (if THEY use it to determine trend reversals it has to be good!) and it really helped my trading in ANY time frame. I use these candles solely on whatever strategy or time frame I may be trading.

Instead of the HAS candles I use the regular Heiken Ashi candles overlaid on the regular bar candles. (Green for up, black...
Why this blue cicules are not a valid signals?
thannks
Attached Image (click to enlarge)
Click to Enlarge Name: scalping chart.gif Size: 19 KB
  • #2,909
  • Dec 1, 2008 4:55pm Dec 1, 2008 4:55pm
Hello guys,

I don't know, but i think this is one of the best 1M threads available. Great job!!!!!! The next best thing to reading candles.

I will do smoe following, but i usually only trade GBPJPY. I have also eliminated the stochastic and added the Awesome Oscillator instead. I find that it is less choppy and when it is below zero with the CCI trend, it is almost unbeatable. If you are patient with the AO, you will have the most perfect set-ups you have ever seen

Hope that helps. I will try to pop in when I make a trade and let you know about it.

Thanks again
"Keep your eyes on the helpers" - Mr. Rogers
  • #2,910
  • Edited Dec 2, 2008 3:54am Dec 1, 2008 5:19pm | Edited Dec 2, 2008 3:54am
Quoting altezza.cl
Why this blue cicules are not a valid signals?
thannks
The candles you circled were not strong 'alert candles' neither chilis nor zorros. While they could be considered weaker alert candles you had several other factors which would have kept me from thinking of a possible trend change. Notice that the 'general' trend is leveling off, catching up with the 25Guppy coming down? Has all the earmarks of a choppy ranging market coming up. The places I marked with arrows were confirmed by my other indicators which is why I entered, plus they were strong chilis or zorros. I was JUST showing examples of the stronger 'alert candles'. Actually, when you look at those candles you circled you're already entering a 'choppy' market and time to stay out!

Also the other indicators you would have on your charts should assist is determining whether the trend was probably ending. Again, there are no absolutes in trading forex. The best indicators is the grey matter between the ears. And yes - you could have entered on those 'alert candles' and quickly discovered you would be in a losing trade. Solution? EXIT! You'll have losing trades. Keep em small. The alert candles that will put you into the big trending moves will more than make up for the small losers from false starts. And quoting Quantum4X's previous posted comment: "If the method you're using works consistently, those 'false' signals would be your cost of making business, the meat you have to buy in order to sell it in your restaurant and make a profit. The trick, as always, is having lower costs and higher profits." I couldn't have stated it any better!

Usually after an alert candle appears the candle afterwards is frequently a strong bodied one which is a super strong indication of trend reversal. Like I said, the ONLY way to get to know these candles intimately is to watch them as they form, along with the preceeding candles and the 3SMA. It just takes some practice, but the results of that practice will definitely put more pips in your pocket.

Wow -Damnol. I just had some eggs with Habenaro peppers on em. How ironic!
  • #2,911
  • Dec 1, 2008 6:15pm Dec 1, 2008 6:15pm
Quoting DirkH143
That is the tricky part, you can't. The only thing you can do is to reduce your false signals. My advice: Get to know the chart you are trading on. Don't get more then 3-4 chart where you trade on. More than that and you will loose.

D.
I trade mainly USD/JPY CHF/JPY very often the CHF/JPY will break just before the USD/JPY pair on a good run. So, I use it as an indicator quite a lot.
Starting to see instead of just looking.
  • #2,912
  • Dec 1, 2008 6:46pm Dec 1, 2008 6:46pm
Quoting Flamenco143
If this was purely mechanical they WOULD be 'ALERT' candles yes, but not entry candles, based on how those candles were formed and the surrounding candles. Notice that the 'general' trend is leveling off, catching up with the 25Guppy coming down? Has all the earmarks of a choppy ranging market coming up. The places I marked with arrows were confirmed by my other indicators which is why I entered. I was JUST showing examples of the 'alert candles'. Actually, when you look at those candles you circled you're already entering a 'choppy' market and...
I always love a good irnoy
"Keep your eyes on the helpers" - Mr. Rogers
  • #2,913
  • Dec 1, 2008 7:16pm Dec 1, 2008 7:16pm
hi is anyone else having problems login to fxprime chat??
  • #2,914
  • Dec 1, 2008 7:24pm Dec 1, 2008 7:24pm
Quoting Flamenco143
Some of my trader friends have asked me to share how I have traded CD's system so successfully. I only wish to address one topic only which is the HA candles. I was taught this about a year ago by a Big Dog at a large European Bank (if THEY use it to determine trend reversals it has to be good!) and it really helped my trading in ANY time frame. I use these candles solely on whatever strategy or time frame I may be trading.

Instead of the HAS candles I use the regular Heiken Ashi candles overlaid on the regular bar candles. (Green for up, black...

Not doubting your skills as a trader, or success with this method, but the above post seems awefully similar to randycandles by goldenequity from this forum and another forum. Don't think anyone on this thread has been around long enough to remember goldenequity and his efforts etc. Interesting that you say you were shown this method from a "big dog".

Regards,
K.
  • #2,915
  • Dec 1, 2008 7:26pm Dec 1, 2008 7:26pm
went long at 139.90 gbpjpy based on the AO crossing above 0 level while CCI trend was above 100.

still experiemting with the s/l's, but am looking at about 40 pips.
"Keep your eyes on the helpers" - Mr. Rogers
  • #2,916
  • Edited 7:39pm Dec 1, 2008 7:27pm | Edited 7:39pm
Not exactly playing by the rules here but I am busy.

Sell Stop orders placed below break line on USD/JPY CHF/JPY

CHF/JPY breaks 50 fibo, order gets filled. Still waiting on USD/JPY
http://img261.imageshack.us/img261/4...edonchfqv9.jpg

USD/JPY gets filled, placed SL.
http://img518.imageshack.us/img518/5...hfilledkf9.jpg

Both Trades look like they are going to stall.
Closed orders and took 8,000 Yen profit.
http://img518.imageshack.us/img518/5089/profitvj4.jpg


Conclusion: It was a good decision to close orders and take profit.
http://img136.imageshack.us/img136/2327/retracedxh6.jpg
Starting to see instead of just looking.
  • #2,917
  • Dec 1, 2008 7:41pm Dec 1, 2008 7:41pm
Quoting Flamenco143
If this was purely mechanical they WOULD be 'ALERT' candles yes, but not entry candles, based on how those candles were formed and the surrounding candles. Notice that the 'general' trend is leveling off, catching up with the 25Guppy coming down? Has all the earmarks of a choppy ranging market coming up. The places I marked with arrows were confirmed by my other indicators which is why I entered. I was JUST showing examples of the 'alert candles'. Actually, when you look at those candles you circled you're already entering a 'choppy' market and...
Very nice way to see the HA Candles, but better of all is to have you again on this thread. At least I really missed you.
You are plenty of good advice, so welcome back.

Hope your guitar goes well for chrismas time.
  • #2,918
  • Dec 1, 2008 7:47pm Dec 1, 2008 7:47pm
Quoting kermut
Not doubting your skills as a trader, or success with this method, but the above post seems awefully similar to randycandles by goldenequity from this forum and another forum. Don't think anyone on this thread has been around long enough to remember goldenequity and his efforts etc. Interesting that you say you were shown this method from a "big dog".

Regards,
K.
You are absolutely right! I don't know who actually started it but my Big Dog friend steered me to Goldenequities original site, and told me off the cuff that they used the 'Randy Candles' to evaluate trend changes and had been for quite awhile. Shortly after he emailed me this info he informed me he was no longer allowed to share the indicators that they used with me.
Whether they are still using them I have no idea, but they sure improved my trading.
  • #2,919
  • Dec 1, 2008 8:11pm Dec 1, 2008 8:11pm
Quoting Flamenco143
You are absolutely right! I don't know who actually started it but my Big Dog friend steered me to Goldenequities original site, and told me off the cuff that they used the 'Randy Candles' to evaluate trend changes and had been for quite awhile. Shortly after he emailed me this info he informed me he was no longer allowed to share the indicators that they used with me.
Whether they are still using them I have no idea, but they sure improved my trading.
Thank you Flamenco143 for sharing this Big Dog, Goldenequities method. I am looking forward to working with it.
  • #2,920
  • Dec 1, 2008 8:44pm Dec 1, 2008 8:44pm
Closed my trade for 1 pip in profit....no momentum at the moment
"Keep your eyes on the helpers" - Mr. Rogers
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