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  • #581
  • Dec 9, 2011 4:13pm Dec 9, 2011 4:13pm
Enochben,
I like how you manage your trade. Can you post the indicators you use?

Thanks for sharing.

Chango

Quoting enochben
I have used this on and off since May. I recently analyzed my trades and found my risk to reward ratio was off and I need to stay in my trades longer to be consistently profitable. I can trade without this and have more winners than losers but with bad R:R I was still having losing weeks. So I tweaked this a little and have discovered a way to capture more pips. Have a look and if anyone is interested I will post the indicators used.

Attachment

5pip range bars (T3MA, !retrace finder)
  • #582
  • Edited 4:31pm Dec 9, 2011 4:16pm | Edited 4:31pm
Quoting enochben
I have used this on and off since May. I recently analyzed my trades and found my risk to reward ratio was off and I need to stay in my trades longer to be consistently profitable. I can trade without this and have more winners than losers but with bad R:R I was still having losing weeks. So I tweaked this a little and have discovered a way to capture more pips. Have a look and if anyone is interested I will post the indicators used.

Attachment

5pip range bars (T3MA, !retrace finder)
Yes I am interested as well because I would like to trade this, but am having a hard time just trusting the entry. I've been using CCI, but all it tells me is the same thing as the price is telling. Although a hook when the CCI is above 200/below -200 is a good exit indication. Is that an HMA colored that you are using?

EDIT: i just put on a colored HMA 20 period and it seems to do a pretty good job of exiting losing entries quicker and also getting out of winning trades at the right time

I've also tried playing around with supertrend candles. They tend to get keep you in and get you out when you should get out, but they aren't the best entry confirmation.

EDIT again: I just realized you wrote something "T3MA" which I assume is that MA. I'd be interested in taking a look at it if you could post it.
Small disciplines repeated with consistency lead to great achievements.
  • #583
  • Dec 9, 2011 4:35pm Dec 9, 2011 4:35pm
Quoting Chango
Enochben,
I like how you manage your trade. Can you post the indicators you use?

Thanks for sharing.

Chango
see attached
Attached File(s)
File Type: mq4 T3 MA20 Colour.mq4   4 KB | 899 downloads
File Type: mq4 !Retrace Finder latest (1).mq4   5 KB | 914 downloads
  • #584
  • Edited 4:55pm Dec 9, 2011 4:43pm | Edited 4:55pm
Quoting enochben
see attached
I think you should try out the HMA... the exit is a lot sooner (saving more profit) than the T3Ma.

Here is a picture of yesterday with a 20 period HMA. Exits were much sooner than waiting for cloud. Could have taken some on the first short and then reentered on HMA change back to short also.
Attached Image (click to enlarge)
Click to Enlarge Name: clouds with hma and gold miner.jpg Size: 147 KB
Small disciplines repeated with consistency lead to great achievements.
  • #585
  • Dec 9, 2011 4:45pm Dec 9, 2011 4:45pm
Quoting jmflukeiii
I think you should try out the HMA... the exit is a lot sooner (saving more profit) than the T3Ma
does HMA change colors and give a smoothed line to eliminate the noise. i am half retardted and need the visual clues.
  • #586
  • Dec 9, 2011 4:55pm Dec 9, 2011 4:55pm
Quoting enochben
does HMA change colors and give a smoothed line to eliminate the noise. i am half retardted and need the visual clues.
LoL! Yes it does change colors and gives a smooth line. See my picture i Just posted

However, as you see its still not filtering bad entrances. But that late long entry wouldn't have happened anyway as its too late to be trading, plus you'd get out with a minimal loss even if you took it considering you would have made nearly 200 pips over the previous London and US sessions.
Small disciplines repeated with consistency lead to great achievements.
  • #587
  • Dec 9, 2011 5:06pm Dec 9, 2011 5:06pm
Quoting jmflukeiii
LoL! Yes it does change colors and gives a smooth line. See my picture i Just posted

However, as you see its still not filtering bad entrances. But that late long entry wouldn't have happened anyway as its too late to be trading, plus you'd get out with a minimal loss even if you took it considering you would have made nearly 200 pips over the previous London and US sessions.
Please post. I'll see if it passes the retard test.

As for filtering out bad trades, that is a grey area...your gonna lose some of the time no matter what. As traders we have to accept that and keep moving. I use confluence to filter out some trades, but I have learned that when I start filtering - I stop taking trades. Got to be careful not to get "paralysis-from-overanalysis" that disease is just as bad as losing trades.

I have studies ichimoku and actually read probably the only book available in english on the indicator. It is really a trend following system than Z has adapted into a intra-day system. Kudo's on that. I had abandoned the cloud when I moved to forex and am happy to have a way to use it on shorter timeframes. That being said - you will still lose sometime regardless of what MA or oscillator you use. Just make sure you can at least wipe out 2 losers with each winner and its all good!
  • #588
  • Dec 9, 2011 5:08pm Dec 9, 2011 5:08pm
Quoting jmflukeiii
LoL! Yes it does change colors and gives a smooth line. See my picture i Just posted

However, as you see its still not filtering bad entrances. But that late long entry wouldn't have happened anyway as its too late to be trading, plus you'd get out with a minimal loss even if you took it considering you would have made nearly 200 pips over the previous London and US sessions.
Hi, where can i get that MA u are using? I would like to inculde it as it seems to be good confirmation.

thx
  • #589
  • Dec 9, 2011 5:15pm Dec 9, 2011 5:15pm
Quoting enochben
Please post. I'll see if it passes the retard test.

As for filtering out bad trades, that is a grey area...your gonna lose some of the time no matter what. As traders we have to accept that and keep moving. I use confluence to filter out some trades, but I have learned that when I start filtering - I stop taking trades. Got to be careful not to get "paralysis-from-overanalysis" that disease is just as bad as losing trades.

I have studies ichimoku and actually read probably the only book available in english on the indicator. It is really a...
Oh I completely understand. I'm just traditionally very very short term small target trading (3-8 pip targets), but I'm looking for something that might be a little more relaxed as well as still profitable and within my acceptable loss tolerance. Really I don't like anything with over a 5-7 pip stop and that's usually just a "safety" stop that I use in case something goes horribly wrong. Usually exit at BE or worst case a spread - 1 loss.

With that being said, this cloud system seems to really make excellent trades. And using it, I would never let a 10 pip winner turn into a loss anyway as that's 2-3 of my regular trades right there anyway. But that's my issue with it is because there will be losses and I need to figure out a way to let myself let the winning trades keep going. Because it seems that often, there is a cloud cross, then retrace (with candles still on the trade trigger side of the cloud), then it continues forward. So the T3MA seems to keep you in for those, but it also has the trade wait to long to get out. A simple 10 pip trail once in profit seemed to work fine yesterday.

Anyway, here's the indi, let me know what you come up with and its the weekend now so plenty of time to tinker with it and I'll see if I have any other ideas as well.

(I have two of them apparently, I think they are the same....)
Attached File(s)
File Type: ex4 HMA Color nrp.ex4   6 KB | 557 downloads
File Type: ex4 HMA_Color_nrp.ex4   5 KB | 441 downloads
Small disciplines repeated with consistency lead to great achievements.
  • #590
  • Dec 9, 2011 5:22pm Dec 9, 2011 5:22pm
Quoting enochben
Please post. I'll see if it passes the retard test.

As for filtering out bad trades, that is a grey area...your gonna lose some of the time no matter what. As traders we have to accept that and keep moving. I use confluence to filter out some trades, but I have learned that when I start filtering - I stop taking trades. Got to be careful not to get "paralysis-from-overanalysis" that disease is just as bad as losing trades.

I have studies ichimoku and actually read probably the only book available in english on the indicator. It is really a...
By the way, what settings are you using for cloud and range?

I've been looking mainly at a 10 pip range with 4/12/24 cloud settings. It seems to have an earlier cross, and even a small trade can be turned into at the very least a BE if not 10 or 20 pips (which is a great gain although I don't feel comfortable using nearly as large of a lot size on this yet as my traditional small scalps).
Small disciplines repeated with consistency lead to great achievements.
  • #591
  • Dec 9, 2011 5:29pm Dec 9, 2011 5:29pm
Another thing to look at is S/R and trendlines of course. I hadn't really been focusing on that with this method (actually I hadn't even thought about it for some reason). But obviously all tradtional rules still play a role. Look at that beautiful channel. My wife wants me to have only these cloud charts open because she thinks they are "pretty" -
Attached Image (click to enlarge)
Click to Enlarge Name: clouds with sr.gif Size: 55 KB
Small disciplines repeated with consistency lead to great achievements.
  • #592
  • Dec 9, 2011 5:40pm Dec 9, 2011 5:40pm
Quoting jmflukeiii
Another thing to look at is S/R and trendlines of course. I hadn't really been focusing on that with this method (actually I hadn't even thought about it for some reason). But obviously all tradtional rules still play a role. Look at that beautiful channel. My wife wants me to have only these cloud charts open because she thinks they are "pretty" -
Lol, well what is pretty and simple usually works!

Btw, how do you use CCI to give u a confirmation?
  • #593
  • Edited 6:01pm Dec 9, 2011 5:44pm | Edited 6:01pm
Quoting N11
Lol, well what is pretty and simple usually works!

Btw, how do you use CCI to give u a confirmation?
I'm using a 34 period CCI (it seems that 14 is the standard but too many false signals. I know woodie loves it, and tried trading that way for a bit, but realized that you might as well just be drawing the trendlines on the price it shows you the same thing).

What I've seen is that CCI 0 cross is usually the best trade when the price crosses the cloud. Second best trade is the 0 bounce off of CCI (i.e. above 0, comes all the way back to 0 and then heads up again). This works if price is still above the cloud. Bad trades seem to be when the CCI has been above 0, price crosses below the cloud, then comes back up above the cloud. This would normall be a long. But when you look at CCI, it never crossed back below 0 or never came close to 0 so its not really a 0 bounce, its just sort of hanging out above say 50 or so. Those trades don't seem to work as well.

Lastly, when CCI gets close to 200 or below -200 and hooks (180 to 200 seems to be the range), it seems to typically be a great exit location.
Small disciplines repeated with consistency lead to great achievements.
  • #594
  • Dec 9, 2011 5:48pm Dec 9, 2011 5:48pm
Quoting jmflukeiii
I'm using a 34 period CCI (it seems that 14 is the standard but too many false signals. I know woodie loves it, and tried trading that way for a bit, but realized that you might as well just be drawing the trendlines on the price it shows you the same thing).

What I've seen is that CCI 0 cross is usually the best trade when the price crosses the cloud. Second best trade is the 0 bounce off of CCI (i.e. above 0, comes all the way back to 0 and then heads up again). This works if price is still above the cloud. Bad trades seem to be when the CCI...
Thx alot for ur imput. Ill try it out...cannot wait for next week
  • #595
  • Dec 9, 2011 5:50pm Dec 9, 2011 5:50pm
Quoting N11
Thx alot for ur imput. Ill try it out...cannot wait for next week
Hold on a sec... I'm getting a chart together to show you.
Small disciplines repeated with consistency lead to great achievements.
  • #596
  • Edited 6:07pm Dec 9, 2011 5:56pm | Edited 6:07pm
So as you see, the CCI 200 hook is not always at 200, but its close usually, I'd say 180 to 200. Either way, by that point you should be in some good profit and no problem with taking it. Also, you'll notice its not perfect. In some instances price travels a bit farther after the hook, but who cares, you're already deep in profit by that point. Maybe at that point you could move a stop very tight or something.

Also notice the two 0 bounce trades, the filter of of CCI being well above 0 when price crosses below the cloud and then back up, and then also the continuation trade where CCI started moving down again (not close to 0), but price had never crossed the cloud again so it worked.

These are just examples from yesterday, but the hook, initial 0 cross and zero bounce trades combined with the cloud seem to be a pretty good entry/exit confirmation With the CCI and the HMA and I'm feeling reasonably confident with this. I didn't mark the 0 crosses because you can see that clearly anyway. The HMA works great for continuation trades where price has remained on either the short or long side of the cloud, where the HMA switches colors, then switches back to the original direction.

EDIT; I'm still sort of working out the 0 bounce idea. Sometimes it works after price crosses back into cloud, sometimes it doesn't. Either way, they aren't the most profitable trades. The HMA seems to really help with the contination of them. Either way, I think they could be taken, but tighter stops could be used.
Attached Image (click to enlarge)
Click to Enlarge Name: clouds with cci explanation.jpg Size: 161 KB
Small disciplines repeated with consistency lead to great achievements.
  • #597
  • Dec 9, 2011 6:08pm Dec 9, 2011 6:08pm
Seems like 34 CCI crossing the zero line coincides with could breakout while also filtering the fake signals. Anyway many thx for the detailed chart explanation. Looks like this is very helpful

Quoting jmflukeiii
So as you see, the CCI 200 hook is not always at 200, but its close usually, I'd say 180 to 200. Either way, by that point you should be in some good profit and no problem with taking it. Also, you'll notice its not perfect. In some instances price travels a bit farther after the hook, but who cares, you're already deep in profit by that point. Maybe at that point you could move a stop very tight or something.

Also notice the two 0 bounce trades, the filter of of CCI being well above 0 when price crosses below the cloud and then back up, and...
  • #598
  • Dec 9, 2011 6:19pm Dec 9, 2011 6:19pm
No problem, a couple more charts here. I'm doing this for my own research as well, but thought it might be helpful, or at least get think tanks rolling. Really, not much needs to be changed from the strategy. I'll accept the losses, but want a good way to know, "okay, its time to get out" - either when a trade starts and moves badly, or when a trade has gone well and its time to take profit.

Also, keep in mind, these charts are with no regard to the time of the day. We all know all trading time is not created equal.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: clouds with cci explanation 2.jpg Size: 143 KB
Click to Enlarge Name: clouds with cci explanation 3.jpg Size: 144 KB
Small disciplines repeated with consistency lead to great achievements.
  • #599
  • Dec 9, 2011 10:30pm Dec 9, 2011 10:30pm
Quoting enochben
see attached
Thanks Enochben for the two indicators. I especially like the Retracement Finder! May you have good trading for all the days ahead.

And special thanks to Mr. Z who started this thread. Your time, effort, courteous attitude and generosity in sharing the fruits of your labor is a special gift to all of us who use this thread!

Richard in Colorado
  • #600
  • Dec 10, 2011 10:31am Dec 10, 2011 10:31am
Quoting fkforex
Just wondering what time/session you and others are trading? Does anyone trade the JPY session, and if so would you be interested in joining me on skype to talk trades? Unfortunately being in the GMT-5 (North American Eastern time zone) and having a 8-4 job, that's the only time I've got.

FkF

P.S. Congrats on a spectacular week. I'd love to hit 365 pips On a standard account, that's more than a months pay lol
Hi, i trade the london session and the first 4 hours of NY session.

Thanks for congrats
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