Joined Jun 2006
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Status: Lifelong learning...
|777 Posts
Very cool system. I will analyze next week's trade with you to see if I have it down correctly. Let me know if you need any help with backtesting. - Hoss
Life is too short to have anything but delusional notions about yourself.
The is EUR COR data from 04/17/2007 and place trade at 04/23/2007.
I personally take this trade, but I didnt open at 04:23:00:00, I open before that, so my ratio is higher then this. You can find my recent trade in update eBook.
For this, the ratio is less then 1, but I will take it cause the tech info confirm.
42:41=1:0.98
Very cool system. I will analyze next week's trade with you to see if I have it down correctly. Let me know if you need any help with backtesting. - Hoss
Ignored
Thanks Hoss. I personally doing the test one by one right now. Because I want to find out more weakness as possible and test the new ema, cci 6,14 at same time in order to have better result.
If you can find hlep out to find the weakness of this system, please let me know.
This weeks COT shows 12,000 new long open positions for the Non Commercials.
Therefore the prediction for the week is short GBP/USD.
4H chart shows the profit target and stop loss.
1H chart shows a present uptrend.
The CCI 50 needs to fall below zero and the MACD needs to turn down before the short position can be entered.
At that time the distance from the close of the 1HR bar and the TP must be near twice (at least) the distance from the close to the SL before the trade can be entered.
Joined Jun 2006
|
Status: Lifelong learning...
|777 Posts
There should be trades with the CHF and EUR also with them both being > 10,000. Also with the CCI pointing up on the GBP, does that mean that trade is negated?
Life is too short to have anything but delusional notions about yourself.
There should be trades with the CHF and EUR also with them both being > 10,000. Also with the CCI pointing up on the GBP, does that mean that trade is negated?
Ignored
Hoss,
According to John's newest ebook, we wait on the short entry until the CCI50 and the MACD indicate a short.
You can download his ebook from a few posts back.
Joined Jun 2006
|
Status: Lifelong learning...
|777 Posts
cool. i missed that. thanks bill. here is what i have for my gbp chart. my 4hr has cci and macd in proper direction. stop at about 2002 and tp at 9929. any thoughts on euro and swissy? what's good about the gbp trade is it is a pretty good trade on its own coming off of a 4hr pin bar (james16).
Attached Image
Life is too short to have anything but delusional notions about yourself.
cool. i missed that. thanks bill. here is what i have for my gbp chart. my 4hr has cci and macd in proper direction. stop at about 2002 and tp at 9929. any thoughts on euro and swissy? what's good about the gbp trade is it is a pretty good trade on its own coming off of a 4hr pin bar (james16).
Ignored
I think we take our signals from the 1H chart. On the 1H the GBP/USD is in a minor uptrend. We would have to wait until the indicators turn down.
I get the same SL as you on the GBP/USD.
The PT could be what you say or it could be 1.9816 if you take it from the 1.272 line.
The COT shows both weakness in the EUR and the CHF.
The COT is based on futures which all pit the currencies against the US$.
Weakness in the EUR would be just like weakness in the GBP- It predicts the forex EUR/USD will go down.
Weakness in the CHF would indicate the USD/CHF will go up. We would be looking to go long that pair.
I looked at them both on a chart and they're in the same boat as the GBP/USD.
On the 1H they have temporary trends in the wrong direction. We would have to wait until they turn.
Since COT report is not current, and lags by a week I guess, how does one actually know that the future and/or option positions for longing or shorting has not change?
Since COT report is not current, and lags by a week I guess, how does one actually know that the future and/or option positions for longing or shorting has not change?
Ignored
We don't know.
The only thing we know is that this method seems to have worked in the past.
I done the update from jan-jul 2006, and the I attached the result as files below.
From the back test, I found some weakness.
1. COT report strategy will fail when hr chart macd or cci 50 against the trend. Also cci 14 div is good sign of reversal.
2. Be careful when the risk value is more then 100 pips.
3. Sometimes you can find the better setup in hourly chart.
4. The bottom line once fib 78.6 break, the price will always hit 127.2.
Update Strategy idea
I am currently turnning another way to look the strategy.
At this point, my goal is to find the paatern allow me to open the trade at 9pm pst or 12am pst daily by using macd, cci50, cci14 as my technical analysis then confirmiing with cot report.
I appreciate all the supports, and I wish any new idea, any new thought can be inspiring here freely when we work together to reach our financial goal.
