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Trading system using relative strength

  • #1,421
  • Jun 2, 2011 3:29pm Jun 2, 2011 3:29pm
Quoting forexhard
That's a very safe strategy.

But are you scalping this way? How long do you let the trades run? Not saying you should copy me, but my way is to use a smaller lot size, a very big basket of trades, and then let it run for as long as possible. I generally look at the biggest losers, and base my decision to get out by when the losers start to drain the profits too much. But this only works when the basket has lots of pairs.
NO fixed time/target. usually i get out if I am in a profit. But I try to trade pairs that are in trend according to CCFP. I thank you for your template. Looks like it might help me lot in the way I like to trade.
  • #1,422
  • Jun 2, 2011 3:33pm Jun 2, 2011 3:33pm
Quoting forexhard
ES, since this is your thread, what would you say to asking FerruFx to come back in and help us out with some modifications to his indi? After using it for over 2 years I have some ideas on how it could be even better. I'd love to see it taken to the next level. What do you think? Care to give it a shot?
Not only would I welcome Ferrufx, I hope GREAT traders like Steve hopwood and Kanggun would also visit this thread.
  • #1,423
  • Jun 2, 2011 3:40pm Jun 2, 2011 3:40pm
ES trader: hi!
Thank you for this great thread.

I was unable to put the CCFb indicator side by side on the same chart (two time frames).
Could you please tell me to do it.
Also why this version (v1.03) showing different relative strength than Forexhard template (values are totally different on the same time frame).
Thanks!
Sincerely,
Rswamy
  • #1,424
  • Jun 2, 2011 3:44pm Jun 2, 2011 3:44pm
closed nzdcad for profit. Replaced with buy gbpcad

Gbp buy on 4 hr ,CAD big sell(10) on daily
  • #1,425
  • Jun 2, 2011 3:49pm Jun 2, 2011 3:49pm
OK, so you're scalping. Thought so. I definitely got the impression that you are over trading, and now I know why.

Try this on. You've got some trades on right now, right? OK, so when you eventually close them... walk away from your charts for at least 90 minutes. Read a book, take a walk, take a nice long shower, walk the dog, whatever. Just don't look at your charts.

When you get back, see if you can build a basket from at least 7 pairs. Seven. Minimum. More is better. Base the basket from the histo only, and at least 3 pairs have to go opposite direction -- so 4 Longs & 3 Shorts, or vice-versa. But there MUST be at least 7 pairs. Use Level 3 and up only. And finally base it ONLY on the Daily histo.

So, ignore the H4 histo and ignore the upper indi on both time frames, look for Level 3 pairs (and higher) on the lower histo only, and build a basket this way with at least 7 pairs.

Lastly, use small lot sizes. For now just use .01 per trade since you are experimenting and following my advice.

No SL, no TP -- so long as you have faithfully copied the above rules. Then just walk away and don't come back for at least 5 hours. 10 hours is even better.

No taking profit for at least 5 hours! Let it run! After 5 hours take profit as you see fit.

With this strategy you will only have 4 or 5 baskets per week. But they will be BIG baskets with plenty of off-setting trades. Try it, I think you'll like it. Your stress levels will decrease by 90% if you learn to trade this way, I promise. Do this with at least 7 baskets (the rest of this week and all of next) and once your confidence gets up you can start increasing the lot sizes. BUT... DO NOT CHANGE THE RULES just because you get more confidence. It is the rules that are giving you your confidence, so don't fuck with them!

It works well for me. Maybe for you too...
To improve is to change. To perfect, is to change often.
  • #1,426
  • Jun 2, 2011 3:52pm Jun 2, 2011 3:52pm
Quoting rswamy4449
ES trader: hi!
Thank you for this great thread.

I was unable to put the CCFb indicator side by side on the same chart (two time frames).
Could you please tell me to do it.
Also why this version (v1.03) showing different relative strength than Forexhard template (values are totally different on the same time frame).
Thanks!
Sincerely,
Rswamy
If you don't understand this point then you ar enot equipped to continue in my opinion. You need to start reading again from post 1 until it sinks in.
To improve is to change. To perfect, is to change often.
  • #1,427
  • Jun 2, 2011 3:54pm Jun 2, 2011 3:54pm
Quoting forexhard
OK, so you're scalping. Thought so. I definitely got the impression that you are over trading, and now I know why.

Try this on. You've got some trades on right no, right? OK, so when you eventually close them... walk away from your charts for at least 90 minutes. Read a book, take a walk, take a nice long shower, walk the dog, whatever. Just don't look at your charts.

When you get back, see if you can build a basket from at least 7 pairs. Seven. Minimum. More is better. Base the basket from the histo only, and at least 3 pairs...
Fantastic. Thanks very much. I did these scalping just for today since I did not have to go to work.

Your idea would help me greatly since I am on call some days for 16 hrs.

thanks Again
  • #1,428
  • Jun 2, 2011 4:17pm Jun 2, 2011 4:17pm
What I just asked is why the same indicator is showing two different relative strengths on the same time frame?

The question is in simple language
Besides, I asked ES tarder, not you!
  • #1,429
  • Jun 2, 2011 4:24pm Jun 2, 2011 4:24pm
Quoting rswamy4449
What I just asked is why the same indicator is showing two different relative strengths on the same time frame?

The question is in simple language
Besides, I asked ES tarder, not you!
Yeah, but you're too lazy to read the thread like everyone else, and I'm bored, so BAM!, there ya go.

It's not because you're a noobie I'm slapping you down, it's because you're a lazy fuck that wants to be spoon fed.

Next question?...
To improve is to change. To perfect, is to change often.
  • #1,430
  • Jun 2, 2011 4:31pm Jun 2, 2011 4:31pm
Quoting forexhard
Yeah, but you're too lazy to read the thread like everyone else, and I'm bored, so BAM!, there ya go.

It's not because you're a noobie I'm slapping you down, it's because you're a lazy fuck that wants to be spoon fed.

Next question?...

Can you put $ 5000 in the real Account and go for a walk using lot size .01 or what ever. you need large capital to trade for basket and the courge.
  • #1,431
  • Jun 2, 2011 4:33pm Jun 2, 2011 4:33pm
ES, this is what my Daily histo looks like right at this moment.

Giant basket just slaps you in the face, doesn't it? 12 trades... 14 trades... eezee peezee nice and easy. Relax and wait for the BB trader sentiment to come to you. Over trading is for suckers.
Attached Image
To improve is to change. To perfect, is to change often.
  • #1,432
  • Jun 2, 2011 4:38pm Jun 2, 2011 4:38pm
Quoting harigp
Can you put $ 5000 in the real Account and go for a walk using lot size .01 or what ever. you need large capital to trade for basket and the courge.
I've got 6 live accounts spread over 4 countries. I trade CCFp baskets, and I also trade using my own 2 privately coded EA's on VPS. What's your point?
To improve is to change. To perfect, is to change often.
  • #1,433
  • Jun 2, 2011 5:03pm Jun 2, 2011 5:03pm
Hi forexhard, here is a shot of my chart. This is using your template, and I have not changed any settings. As you can see my daily histo is quite different to your one. Do you know why? Could it be because it is a different broker?
Attached Image (click to enlarge)
Click to Enlarge Name: ccpf.gif Size: 50 KB
  • #1,434
  • Jun 2, 2011 5:12pm Jun 2, 2011 5:12pm
The indi only refreshes with the opeing of a new candle. So with the bigger time frames it will only refresh a few times per day. The Daily, only once. This is due to several factors, one being that the indi is code heavy and it would slow your CPU down to a crawl if it ran constantly. Another reason is because the original system called for opening trades as a new candle opened, and not just taking trades throughout the day ala carte.

So what you probably need to do is to refresh. You can force this by clicking between time frames within the MT4. Just change your screen to M15 and up to H4 (or what ever) and then back to your desired base TF. I think this will do the trick. Also, my home screen in H4 not Daily. That might also influence the indi.

And yes, broker feed also plays a part, but not that much. Try refreshing the indi. But don't rush this part. Wait 15 seconds or so between clicks. Give the indi time to adjust.

If none of that works it's probably because the indi is collecting tick data, so your histo will show better results the longer it is left running uninterrupted. Leave it alone for 48 hrs and see what happens if the refreshing doesn't work.
To improve is to change. To perfect, is to change often.
  • #1,435
  • Jun 2, 2011 5:48pm Jun 2, 2011 5:48pm
Thanks forexhard.
  • #1,436
  • Jun 2, 2011 6:20pm Jun 2, 2011 6:20pm
Quoting forexhard
ES, this is what my Daily histo looks like right at this moment.

Giant basket just slaps you in the face, doesn't it? 12 trades... 14 trades... eezee peezee nice and easy. Relax and wait for the BB trader sentiment to come to you. Over trading is for suckers.
Thanks. I will look into it soon and put trades.
Again thanks for all your input.
  • #1,437
  • Jun 2, 2011 7:12pm Jun 2, 2011 7:12pm
Forexhard,
I am not sure what is going on here. I opened a new chart and put in your template. It shows same trade that I had this afternoon. Bar end time remains same. Am I doing something wrong?
Attached Image (click to enlarge)
Click to Enlarge Name: ccfp4.gif Size: 41 KB
  • #1,438
  • Jun 2, 2011 7:28pm Jun 2, 2011 7:28pm
I am able to create following pairs to trade from the CCFp you put above. I use IBFX. Is that what you have?
Attached Image (click to enlarge)
Click to Enlarge Name: ccfp5.gif Size: 179 KB
  • #1,439
  • Jun 2, 2011 7:35pm Jun 2, 2011 7:35pm
Woh! Already in positive pips
Attached Image (click to enlarge)
Click to Enlarge Name: ccfp5.gif Size: 60 KB
  • #1,440
  • Jun 2, 2011 7:52pm Jun 2, 2011 7:52pm
See what I mean, guys? Right after the chart switched over to a new 24hr period, the histo updated and the bars look a lot different from post #1431.
Attached Image
To improve is to change. To perfect, is to change often.
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