Hi fayeez, it's good to apply CCI 14 on 1 hour chart..
it's look good...
it's look good...
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Dislikedi am running ea for this, more to test the exit methods.
three ea's one for 30min chart, one for 15min chart and one for 5min chart.
All exit rules as per my previous post (timeframe based exit/re-entries)
Will report the progress...
mean time i can test exits as suggested in this threadIgnored
DislikedThanks for your input..
I've met quite a few pro traders in my time and you would be shocked to know how simple their methods are.. It's all about UNDERSTANDING the patterns of the price activityIgnored
DislikedAt the end of the day, it's all about risk tolerance.
To me, I would rather have fewer losing trades, and end up missing some of the moves, than to keep trading until I hit a loss. It's actually kind of empowering to be on the sidelines during a big move that didn't fit your rules. It means you did the right thing.
There will always be another trade/trend. You're never going to hit all the good ones, but why not just take the higher probability setups?Ignored
DislikedOne of the best filters you can use in trading this method and many others is "to wait". When the ma's cross simply wait and watch how price reacts, then make your decision. Using waiting as a filter you will miss some of the move but your emotions will be minimized. For example when the ma's cross let price take off and then it will bounce/pullback, sometimes a little and sometimes alot, when it does that take a look at the highest high for buys and lowest lows for sells and put in a pending order 10-50 pips away from those price areas. With a pending order ie. buy stops and sell stops you are choosing the General direction of the trade but at the end of the day you are allowing price to choose the Specific direction when price moves and opens your position for you.Ignored