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CICR system (Currency index cross referencing)

  • #341
  • Oct 12, 2011 1:42am Oct 12, 2011 1:42am
Quoting leekaq
please search in one of many capito's post. I couldn't remember the actual page number..

Anyway here is my trade today 8 win 1 lost, 2 still open in green pips..
SL 15 TP 15
Hi leekaq you indeed have a good eye for short time frames.

Just a feedback i need from you, isnt it getting more and more difficult for your trades to generate returns quickly as expected.

And also one drawback of scalping is that its ok as long as you are scalping major pairs with lower spread, cross currencies can turn out to be expensive trades while scalping.
  • #342
  • Oct 12, 2011 1:45am Oct 12, 2011 1:45am
Hope these images help in how i look at candle rollovers and which filter line is a valid cross for me.

Idea is to catch the 4hr cross over in conjunction with daily,weekly and monthly candle. So the best to catch it is either on 4 hr when the candle breaks the filter line or watch the daily rsi going from oversold or overbrought levels.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbplfx.png Size: 54 KB
Click to Enlarge Name: cadlfx.png Size: 50 KB
Click to Enlarge Name: audlfx.png Size: 50 KB
Click to Enlarge Name: nzdlfx.png Size: 47 KB
  • #343
  • Oct 12, 2011 2:29am Oct 12, 2011 2:29am
hey capito.. even in scalping, patient is required.. i see faster return if all 3 TF RSI (H1, H4 and D1) arrows are in same direction and with green values. 4 or 5 trades i just went after only 2 TF RSI values turned into yellow. These trades were either lost or taking too long time to hit TP.

To help me on scalping, i created another DB with only 3 TF RSI indicators..


Quoting capito
Hi leekaq you indeed have a good eye for short time frames.

Just a feedback i need from you, isnt it getting more and more difficult for your trades to generate returns quickly as expected.

And also one drawback of scalping is that its ok as long as you are scalping major pairs with lower spread, cross currencies can turn out to be expensive trades while scalping.
Attached Image (click to enlarge)
Click to Enlarge Name: scalping DB.jpg Size: 151 KB
  • #344
  • Oct 12, 2011 2:31am Oct 12, 2011 2:31am
i could use the DB with 5 RSI indicators but it doesn;t simplify things for me...

Quoting leekaq
hey capito.. even in scalping, patient is required.. i see faster return if all 3 TF RSI (H1, H4 and D1) arrows are in same direction and with green values. 4 or 5 trades i just went after only 2 TF RSI values turned into yellow. These trades were either lost or taking too long time to hit TP.

To help me on scalping, i created another DB with only 3 TF RSI indicators..
  • #345
  • Oct 12, 2011 2:46am Oct 12, 2011 2:46am
Quoting capito
....
Idea is to catch the 4hr cross over in conjunction with daily,weekly and monthly candle. So the best to catch it is either on 4 hr when the candle breaks the filter line or watch the daily rsi going from oversold or overbrought levels.
Hi Capito,
fist of all, thank you very much for all your kind contribution to the traders' community.

I start demo yesterday.
Just 2 questions:
1) is there a preferred time of the day to trade or AVOID trading (say: US open, Asian session, etc.);
2) one hour ago I enterd CADJPY -buy- (all blue line up) but soon exited: it's still there. I noted that BOTH CADLFX and LFXJPY where fully UP. So, there's something wrong: one must be strong (UP) and the other currency must be weak, in order to be a suitable trade. Is that correct?
  • #346
  • Oct 12, 2011 2:50am Oct 12, 2011 2:50am
Quoting leekaq
i could use the DB with 5 RSI indicators but it doesn;t simplify things for me...
I must say h1,h4,d1 is the best one to use for scalping. 15 tp and 15 sl should also be fine.
I will start scalping on market open tomorrow early morning. Will share my trades tomorrow.
  • #347
  • Oct 12, 2011 2:59am Oct 12, 2011 2:59am
Quoting jack-fx
Hi Capito,
fist of all, thank you very much for all your kind contribution to the traders' community.

I start demo yesterday.
Just 2 questions:
1) is there a preferred time of the day to trade or AVOID trading (say: US open, Asian session, etc.);
2) one hour ago I enterd CADJPY -buy- (all blue line up) but soon exited: it's still there. I noted that BOTH CADLFX and LFXJPY where fully UP. So, there's something wrong: one must be strong (UP) and the other currency must be weak, in order to be a suitable trade. Is that correct?
Hello jack i really appreciate you are enjoying this thread.
Ok for your first question, i dont have any set avoid trading period. I am only looking for the best crosses. Please look at the images i uploaded in the morning.
Imagine this when you use a moving average crossover strategy
lets say 5 ema and 13 ema cross on the 4 hr. Now you need some confirmed way to figure out whether this cross real or fake.
Now similiarly look at the individual indexes
When the candle crosses the filter line you need to know is this a true trending phase or just fake for which we use the rsi 3 on daily,weekly and monthly.
See the last nzdlfx image i have uploaded
when the last cross happened last week when the cross took place the d1,w1 and mn was all going upwards which means its gaining momentum.
Now this is enough confirmation for you to know that nzd is strong so now you just have to figure out which is the best trade for nzd.
So you would notice when the nzd index crossing was happening it was creating crossings on nzdchf,nzdjpy,nzdusd etc so all these are your biggest trends for the month.

Hence i recommend trade 1st 10 days of the month then relax.
  • #348
  • Oct 12, 2011 3:05am Oct 12, 2011 3:05am
capito, thanks for the detail examples. but why in all yr long positions shown, the RSI3 were coming up from below 70? Is that supposed to be coming up from below 30?

I'm referring to yr statement in post#1 which i understood are for short postions.

"We trade if and only if following situation arise. Each time you see the RSI 3 pointing down and is coming down from above 70 or going up from below 30 on daily tf then we shall see the arrow direction of the weekly and monthly. I like to see the arrows pointing in the same direction"
  • #349
  • Oct 12, 2011 3:11am Oct 12, 2011 3:11am
Quoting leekaq
capito, thanks for the detail examples. but why in all yr long positions shown, the RSI3 were coming up from below 70? Is that supposed to be coming up from below 30?

I'm referring to yr statement in post#1 which i understood are for short postions.

"We trade if and only if following situation arise. Each time you see the RSI 3 pointing down and is coming down from above 70 or going up from below 30 on daily tf then we shall see the arrow direction of the weekly and monthly. I like to see the arrows pointing in the same direction"
The snapshots i uploaded in the morning are from the 4hr tf thats why u see it like that, open the same charts and go into the daily tf and you will see exactly what i typed in post 1.

Look at the pip gains on nzdjpy,nzdhf,nzdusd from the point when the nzdlfx last crossed on the 5th oct.

Is there any way to upload videos on ff.
  • #350
  • Oct 12, 2011 3:18am Oct 12, 2011 3:18am
USDLFX creating new breakout to the downside.
EURUSD,AUDUSD,NZDUSD
All good for day
  • #351
  • Oct 12, 2011 3:26am Oct 12, 2011 3:26am
I didn't quite follow the system but NZD showed some strength in the morning, so I loaded it for short term trade. After an hour some nice profit.
Attached Image (click to enlarge)
Click to Enlarge Name: 20111012NZD.jpg Size: 208 KB
“I made most of my money sitting on my hands.”
  • #352
  • Oct 12, 2011 3:26am Oct 12, 2011 3:26am
thanks man,,i'm raining pips again today,,cats and dogs,,,,+250 and counting

Quoting capito
USDLFX creating new breakout to the downside.
EURUSD,AUDUSD,NZDUSD
All good for day
  • #353
  • Oct 12, 2011 3:26am Oct 12, 2011 3:26am
capito,

the filter line you use in the recent example - is it the MA14 as in post1(cicr.tpl) or the filter line at post #74.

tq
  • #354
  • Oct 12, 2011 3:31am Oct 12, 2011 3:31am
leekaq, you are doing wonderfully well, i will appeciate if you can oblige me the new DB with 3 tf ( h1, h4, d1) i want to try it wth couple of indicator i here on 15min.
thanks
  • #355
  • Oct 12, 2011 3:45am Oct 12, 2011 3:45am
capito, i got here late , the 4 candle that break is still on, is it still valid?
  • #356
  • Oct 12, 2011 3:54am Oct 12, 2011 3:54am
I personally think that the best feature of this method it is not the profits. Profits are great and we like it However for me the best part is that when index is showing momentum with all arrows and you see some pairs that also have arrows direction in one side then there is very low probability that price will go against you. So even if price won't go your way you are able to exit with close to no loss at all. That is what I like the most with this method. Just some thought to share.
“I made most of my money sitting on my hands.”
  • #357
  • Oct 12, 2011 3:55am Oct 12, 2011 3:55am
Quoting capito
The snapshots i uploaded in the morning are from the 4hr tf thats why u see it like that, open the same charts and go into the daily tf and you will see exactly what i typed in post 1.

Look at the pip gains on nzdjpy,nzdhf,nzdusd from the point when the nzdlfx last crossed on the 5th oct.

Is there any way to upload videos on ff.
So we use the H4 to see if it breaks the filter line and Daily RSI(3) to see if its going down from above 70 or up from below 30 ?
  • #358
  • Oct 12, 2011 4:06am Oct 12, 2011 4:06am
I have been receiving a lot of requests. let me see if there is a way i can hold a webinar for all of you.
  • #359
  • Oct 12, 2011 4:10am Oct 12, 2011 4:10am
hi leekaq,
Nice trades, scalping works fine,
I will take more trades in the US session,
Attached Image (click to enlarge)
Click to Enlarge Name: nice one.png Size: 41 KB
  • #360
  • Oct 12, 2011 4:13am Oct 12, 2011 4:13am
Quoting ride.inc
I didn't quite follow the system but NZD showed some strength in the morning, so I loaded it for short term trade. After an hour some nice profit.
Ride.. Ridee... Ride....
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