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FX-50 Great Scalping System

  • #81
  • Dec 8, 2008 10:43am Dec 8, 2008 10:43am
Hi FX Trades

First of all...I want to say thanks to, FX24, F4mnect, DV84, Flamenco and others...Letīs make this thread alive and FREE.

Now F4mnect could you recapitulate your trade style...I mean indicators setup, entry criteria, TP and Stop...many of us wants to follow your rules.

Thanks
Suba
  • #82
  • Dec 8, 2008 10:48am Dec 8, 2008 10:48am
Quoting Al-Q-DUH
Just would like to say a few words people...CD v1 system is indeed powerful but as all other promising system, it is not perfect. SMA, EMA, RSI , CCI bla bla are ALL lagging indicators. So we should not DEPEND on it 100% I have to admit V1 indicators helps me a lot during intraday trading but i use my own system in collabration with v1 to make the most pips out of it. So to newbie traders (and i assume 95% reading this thread are newbies) stick to fibs and trendlines. Yes it is difficult but very rewarding. I am glad to teach you trendlines in my...
newbie trader here.

If you start a thread on trend lines than i would be present. thanks.

-low
  • #83
  • Dec 8, 2008 11:06am Dec 8, 2008 11:06am
Quoting dryclean
Up 137 on first 2 trades
using fx-50 set up and adding the kino cci3
I was just using the kino indi waited for it to turn green and jumped in
may some pips and exit possibly could have done better but I'm a pig not a hog

Dryclean very nice trade.

I had a question. You're using Canuctct's CCI settings in Woody's cci. And you're using the originalCCI settings in kino's indicator. Is that by design to get a better entry?

Thanks,
  • #84
  • Dec 8, 2008 11:07am Dec 8, 2008 11:07am
Quoting lowmach
newbie trader here.

If you start a thread on trend lines than i would be present. thanks.

-low
Me too. I've used them just a little
  • #85
  • Dec 8, 2008 11:16am Dec 8, 2008 11:16am
Subscribe
If everyone believes it, it will work.
  • #86
  • Dec 8, 2008 11:17am Dec 8, 2008 11:17am
Good to see you here . Appreciate you giving your time freely . Could you please explain the difference between your all in one indi and the Kino CCI RSI v2 ? Thanks
Quoting kinonen
i'm here and will participate on both trades , but please no more PM !!
i'have no time to make eveyone's indicator (with others values, alerts,arrows ...)
i'm not with or against CD i'm just learning tradings methods !!
(want make an EA of version1 so i have no time)
thanks

kino
  • #87
  • Edited 11:55am Dec 8, 2008 11:28am | Edited 11:55am
Found where you guys moved to.

Just noticed the number of my post, if there are any radio hams amongst us, they will now what 88 means.

Am not using the strategy too much, seem to get safer entries using COG channels, but love the indicators.

Then a bit later found CanuckCT's setup. Learned something new again.

Thanks all for excellent contributions.
  • #88
  • Dec 8, 2008 12:19pm Dec 8, 2008 12:19pm
I trade from the uk via spread betting and using commercial software. Found the original thread very interseting and was trying to get to grips with it when it was pulled. Very pleased this thread has started and would like to say thank you to all the guys providing info, indicators etc. think its outstanding you're prepared to give your time and efforts to others!!

And now for my daft question. I'm not overly used to metatrader. i can download all the relevent files from the thread BUT how do i apply them to the charts?

Any help gratefully received!

thanks Russ
  • #89
  • Dec 8, 2008 12:31pm Dec 8, 2008 12:31pm
Quoting russiebear
I trade from the uk via spread betting and using commercial software. Found the original thread very interseting and was trying to get to grips with it when it was pulled. Very pleased this thread has started and would like to say thank you to all the guys providing info, indicators etc. think its outstanding you're prepared to give your time and efforts to others!!

And now for my daft question. I'm not overly used to metatrader. i can download all the relevent files from the thread BUT how do i apply them to the charts?

Any help gratefully...

Have you put all the indicators in the indicator folder


If not
Save the indicators to experts/indicators and install all the indicators ending in ex4 and mq4

For the temolate install the tpl 1 min and 5 min in the templates folder of mt 4

To attach to charts, click on charts in the upper tool bar then a dropdown in the dropdown select templates and look for the fxprime template and add it to your chart

If you are still having problems pm me and I will talk you through it.
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #90
  • Dec 8, 2008 12:42pm Dec 8, 2008 12:42pm
Quoting russiebear
I trade from the uk via spread betting and using commercial software. Found the original thread very interseting and was trying to get to grips with it when it was pulled. Very pleased this thread has started and would like to say thank you to all the guys providing info, indicators etc....
Also, after you copy the files over to the experts/indicators folder, you have to restart MT4 before they will show up in your list of indicators. (alternatively, you can click on Tools and then Metaquotes Language Editor and push the "Compile" button, and then you don't have to re-start MT4)
  • #91
  • Dec 8, 2008 12:56pm Dec 8, 2008 12:56pm
Thanks guys.

FX24, i'll pm you as soon as my validation is complete. Although i've been reading the forum as a guest i'd not felt the need to post therefore didn't realise i had to wait b4 i could pm etc.

Once again, many thanks for your offer of help.

Russ
  • #92
  • Dec 8, 2008 12:57pm Dec 8, 2008 12:57pm
I am having no luck today with prime.. keep missing the entries, Im thinking i may use fxprime solely on eur/usd
  • #93
  • Dec 8, 2008 1:27pm Dec 8, 2008 1:27pm
Today is a bit tough...London session has good move but last few hours a bit tricky. For me today, using price action and glancing at FX50
EJ +29 - 4 trades
GJ +40 - 1 trade

Use M5 and M15 to view consolidation area...need to be patient for a break and need to take pips quickly.

FXPrime is a moving average crossover system and by it's nature it lags badly. Price is always ahead of moving averages....so by the time the indicators fire, you are too late because the price has reach the top or bottom of the consolidation area. This is why the original entry waits for CCI to establish and gets you into the trade with CCI34 crossing back to joing CCI170....you are trading the pullback and return to the prevailing trend. Assuming there is a trend. You can also see that by looking at price and a 34 and 170 moving average on a chart. Have a look...that's all CCI represents...how far price is from a moving average.

This is why you need to look for trendlines, support and resistance and higher time frames to see what is happening because that is where price turns. You can trade the turn and when it doesn't turn you can trade the break.

Sometime FXPrime helps with this...sometimes it doesn't.

For example, if the H1 candle is bearish...hits a trendline and you begin to watch it recover fully to a bullish candle, that's when you can start to identify tradeable moves....use price action or FXPrime to enter...chances are it will at least go a few pips in your favor. Move stop to breakeven after 10 pips, maybe take the 10 pips and move on.

If you blindly follow FXPrime with no other reference point....that's a bit tricky.

I suggest you go to demo mode and take a blank chart with no indicators....or use trade simulator. See if you can buy when price goes up and sell when price goes down. Sounds easy. But you'll be wrong a lot. The point of the exercise is what to do when you are wrong. That's what you need to practice. Some of the FXPrime setups really cloud price movement with the HA candles. Especially when price going sideways....so you have to practice what to do when you are wrong.

Cheers
CanuckCT

Quoting Hanoverfiste
I am having no luck today with prime.. keep missing the entries, Im thinking i may use fxprime solely on eur/usd
  • #94
  • Dec 8, 2008 1:29pm Dec 8, 2008 1:29pm
Quoting fxtrading24
You are welcome
Thanks so much for continuing this thread.
Peter
  • #95
  • Edited 1:38pm Dec 8, 2008 1:37pm | Edited 1:38pm
Quoting CanuckCT
Today is a bit tough...London session has good move but last few hours a bit tricky. For me today, using price action and glancing at FX50
EJ +29 - 4 trades
GJ +40 - 1 trade

Use M5 and M15 to view consolidation area...need to be patient for a break and need to take pips quickly.

FXPrime is a moving average crossover system and by it's nature it lags badly. Price is always ahead of moving averages....so by the time the indicators fire, you are too late because the price has reach the top or bottom of the consolidation area. This is why the original...
I also use different fibs to get a fib overlapping not just use #spudfib.. to see price action on higher time frames, great refernce points to find s/r lines.. helps get me into more trades and exits..
  • #96
  • Dec 8, 2008 1:38pm Dec 8, 2008 1:38pm
Hanover go to thread tools and you will see the dropdown for printable version, just below the pages on the top of the page
It Is Not The Exit That Concerns Me, As It Is The Re-Entry
  • #97
  • Dec 8, 2008 1:41pm Dec 8, 2008 1:41pm
Here is a shot of where I took the 40 pips on GJ. I've removed the indicators (except for gann) for clarity and to make a point. We should be using price action to confirm what the indicators are telling us...not the other way around. So we need to be looking at what price it doing.
Cheers
CanuckCT
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  • #98
  • Dec 8, 2008 1:54pm Dec 8, 2008 1:54pm
Quoting CanuckCT
FXPrime is a moving average crossover system and by it's nature it lags badly. Price is always ahead of moving averages....so by the time the indicators fire, you are too late because the price has reach the top or bottom of the consolidation area. This is why the original entry waits for CCI to establish and gets you into the trade with CCI34 crossing back to joing CCI170....you are trading the pullback and return to the prevailing trend....
Excellent post and worth reading again. Price is the most important indicator we have and support and resistance rock.
  • #99
  • Dec 8, 2008 2:10pm Dec 8, 2008 2:10pm
FXPrime vs Price Action - USDCAD

With FXPrime you are waiting to catch a mini trend. I've marked a couple of trades...the first long is good for a few and the second sell works out ok.

Using price action....there are lots of lines you could draw as the day progresses and play the breaks above and below various points of support and resistance. You might have played the break of S1 and been wrong....that trade should have been closed quickly and would have been a good time to sell.

If we begin to use price a bit more...you'll be able to tell when FXPrime signal is good or not.

Cheers
CanuckCT
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  • #100
  • Dec 8, 2008 2:20pm Dec 8, 2008 2:20pm
Look at how price moved to R2...paused for a few candles and then broke above. I added the line that I was looking to break. Look at the CCI and how it moved above 100, both CCI21 and CCI89. And you resistance became support after the break. You could have played the break or the bounce on the support line. Either way...easy 10 to 30 pips here. Consolidating at the top again....what to do?
Cheers
CanuckCT
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