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3 CCIs 'Flag' Trading

  • #41
  • Dec 27, 2011 5:48pm Dec 27, 2011 5:48pm
I wish you well fosters - good work. I am a big fan of automating trading systems where possible in order to improve our entries/exits and trade management.

I don't believe in set and forget ea's - but using technology to improve our consistency is very powerful in my experience.

Good to see Darryl putting his 2c in also. Where he moves - only good follows.
Enter Signature
  • #42
  • Dec 31, 2011 5:28am Dec 31, 2011 5:28am
Thanks for the kind words.
I am in search of say 1000 trades to verify the statistics, which will take about a year and half. The back tests had been very encouraging though.
Quoting Sarythsaya
I wish you well fosters - good work. I am a big fan of automating trading systems where possible in order to improve our entries/exits and trade management.

I don't believe in set and forget ea's - but using technology to improve our consistency is very powerful in my experience.

Good to see Darryl putting his 2c in also. Where he moves - only good follows.
  • #43
  • Dec 31, 2011 9:41am Dec 31, 2011 9:41am
Hi Guys

Glad to see my 3 cci's system has produced this thread , good work Fosters!

But my original thread explaining the 3 cci's system was here http://www.forexfactory.com/showthre...80673&page=338

I think you highlighted the 2 cci system, by the way was EA designed on 2 or 3 cci's?


All the best Clive.
Feel the Fear and do it anyway!!!
  • #44
  • Dec 31, 2011 10:41am Dec 31, 2011 10:41am
Quoting clivepackham
Hi Guys

Glad to see my 3 cci's system has produced this thread , good work Fosters!

But my original thread explaining the 3 cci's system was here http://www.forexfactory.com/showthre...80673&page=338

I think you highlighted the 2 cci system, by the way was EA designed on 2 or 3 cci's?


All the best Clive.
Clive, I had been quite interested to know if you still traded your method and had asked after you in the main flag trading thread: http://www.forexfactory.com/showthre...07#post5223807

I was asking if you still trade this variant of flags and if you can advise how successful it's been and how many trades you typically enjoy during the London/NY overlap.
  • #45
  • Jan 1, 2012 4:05am Jan 1, 2012 4:05am
Quoting Tailgun
I was asking if you still trade this variant of flags and if you can advise how successful it's been and how many trades you typically enjoy during the London/NY overlap.
Hi Tailgun

Love the name, but not many tailgunners survived the 2nd world war, bit like forex trading I guess

But to answer your question No I don't trade the 3 cci's system solely and also haven't traded recently due to changes in my personal circumstances, but to be honest I think I fell foul of the "Forex trap" of trying too many systems out, kept switching from one idea to another searching for that intangible "Holy Grail"

But hey Ho we all have to travel that path to get it out of our system, don't we???

But I took a rest from trading for a while so feel I now have a clearer head on it all and a much more focused approach. I realise you have to find your own system that works for you and stick to it just tweaking out the wrinkles as you go along.

I now believe the way forward for me is definitely 1 min charts by flag trading the trend, so now just have to work out best way to achieve that.

I see from your profile you like "Flag trading 5min and 15 min charts" perhaps we should compare notes and benefit from each others experiences?

I have set myself a goal to crack this forex trading once and for all this year and I'm looking for like minded traders to join forces with, compare notes, and do battle together, need a "tailgunner" for sure are you interested?

Heres a quick over view of my trading strategy for this year:

1) Identify a strong trending pair. Basically strongest currency against weakest)

2) Wait for a strong move with the trend. Watch the move happen, in other words let the market show you its direction. (no need to guess!)

3) Wait for the first pullback on 1 minute chart.

4) Enter as pullback ends and price starts back in direction of first move ie its trend direction. Use only 10 pips stop max. I use trendline breaks, stochastics, CCI and Hienekin Ashi to help identify when the pullback has ended.

5) Move to break even after 3/5 pips.

6) Take profit at 20 pips (2:1 ratio).

Thats about it really, can't over emphasise the importance of a strong trend and picking the right pair in the first place.

I'm looking for one trade in London open and one trade in New York open where most big moves happen.

I aim to have a 50/50 win ratio with a 2:1 profit therefore with 2 trades per day, thats 10 trades per week. I risk 2% per trade so will have a 10% account growth per week.

Well thats the plan as they say, so lets see what happens???

There's an example of the sort of trade I'm after on this thread post 155 http://www.forexfactory.com/showthre...305034&page=11

Anyway if you fancy a chat PM me or skype me on clive.packham1.

Oh that goes for anyone else interested in having a chat too, skype is great you can share screens and charts etc really cool for chatting over forex trading ideas.

I'm really looking forward to this years trading and cracking this bloody forex game once and for all or like the Tailgunners in the 2nd world war "Die trying"

Happy Trading.
Feel the Fear and do it anyway!!!
  • #46
  • Jan 1, 2012 12:38pm Jan 1, 2012 12:38pm
Well, I can tell you what I have been doing for the past nine months is also trading flags off 1m and 5m charts. I did try multiple CCIs for a filter but found very few trades during my limited trading window (London/NY overlap). I honestly have found the best thing is to have a 50 EMA on both TFs and use that for trend guidance. I only trade EU, GU and AU for the smallest spreads.

As for strategies, I use flags off the shorter TFs, but also use the 15m and hourly charts to check for stochastic divergence. Once such divergence is identified, I drop down to the 5m charts and use HA candles, a trendline, and a set of 2-period LWMAs that draw their data from the Hi/Low of the 15m candles to create a "channel". Once price breaks the TL inward, I set an entry order one pip above/below the channel. The SL is the other side of the channel and the TP is set by the other side of the stochastic/price curve (which can give 1:3 and 1:4 R:R, or better!). I learned this strat from a very successful trading friend of mine and am happy to share if it may be of use to you. He took his account from $500 to $40,000 USD from October last year (2010) to around May.

In summary, I use flags with the rules from the original thread during trending markets and stochastic divergence in ranging markets or in trending markets when divergence occurs between price and the stoch levels.
  • #47
  • Jan 2, 2012 4:33am Jan 2, 2012 4:33am
Wow thats impressive account growth Good to know it can be acheived, I have a spreadsheet showing the power of compound growth, he was probably hitting about 15% growth per week, perfectly manageable in my book.

Could you put a chart up showing an example of the system you described?

Many thanks for responding. I have a strategy I would like to share which I'm thinking of calling "No Fear Trading" which I believe is the secret to succesful trading.

Speak soon hopefully Clive.
Feel the Fear and do it anyway!!!
  • #48
  • Jan 2, 2012 6:01am Jan 2, 2012 6:01am
Hey ClivePackHam,
Welcome at last to my thread. And thanks again for that inspiration.
Yes, it is the 3 CCIs system and the EA is based on the 3 CCIs. But as you would notice also, I took another approach entirely and getting a good ending so far.
Quoting clivepackham
Hi Guys

Glad to see my 3 cci's system has produced this thread , good work Fosters!

But my original thread explaining the 3 cci's system was here http://www.forexfactory.com/showthre...80673&page=338

I think you highlighted the 2 cci system, by the way was EA designed on 2 or 3 cci's?


All the best Clive.
  • #49
  • Jan 2, 2012 6:04am Jan 2, 2012 6:04am
Very impressive and straightforward. Look forward to your thread sharing the strategy.
Quoting Tailgun
W.......I learned this strat from a very successful trading friend of mine and am happy to share ..........
  • #50
  • Jan 2, 2012 9:41am Jan 2, 2012 9:41am
Quoting clivepackham
Wow thats impressive account growth Good to know it can be acheived, I have a spreadsheet showing the power of compound growth, he was probably hitting about 15% growth per week, perfectly manageable in my book.
Yes, you are correct. He often gains 15-20% weekly. His account is much higher than that now and although he still trades stoch div he also is looking at Market maker stuff which trades off the 15m charts. That's the future...

Quoting clivepackham
Could you put a chart up showing an example of the system you described?
It's tough to do a screenshot of the div unless it currently is happening and right now with the holidays there's really nothing legitimate. But here's an example from the 15m GU chart:

http://i228.photobucket.com/albums/e...-clip-39kb.png

As I mentioned earlier, once you spot divergence you drop down to the 5m charts. draw a TL and take a signal to buy/sell once PA breaks that TL.

I don't want to divert this thread with stoch div as it has no place here (I hate guys who are always intruding on threads for other strats). There is a thread the man himself started on BP forums if you want to check it out and ask more about stoch div there.

Like I said, 1m/5m flags are still my favorite way to trade in trending markets.
  • #51
  • Jan 2, 2012 1:41pm Jan 2, 2012 1:41pm
Quoting Tailgun
Well, I can tell you what I have been doing for the past nine months is also trading flags off 1m and 5m charts. I did try multiple CCIs for a filter but found very few trades during my limited trading window (London/NY overlap). I honestly have found the best thing is to have a 50 EMA on both TFs and use that for trend guidance. I only trade EU, GU and AU for the smallest spreads.

As for strategies, I use flags off the shorter TFs, but also use the 15m and hourly charts to check for stochastic divergence. Once such divergence is identified, I...
++++++++++++++++++++++++++++++++

Hi TG. If you would I'd appreciate some more info on your fine tuning of flag. I did go read the link (On your post following this one) and still have a few questions;
• You mention a pair of 2 period lwma's. Do you use a deviation to separate them? and how do they get their info from 15m candles when they are on 5m?
• What is your stochastic setting?
• And are you drawing standard divergence?
If you don't feel comfortable discussing this on this thread, please PM me.
Thanks,
Darryl
  • #52
  • Jan 3, 2012 6:42am Jan 3, 2012 6:42am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Hi TG. If you would I'd appreciate some more info on your fine tuning of flag. I did go read the link (On your post following this one) and still have a few questions;
• You mention a pair of 2 period lwma's. Do you use a deviation to separate them? and how do they get their info from 15m candles when they are on 5m?
• What is your stochastic setting?
• And are you drawing standard divergence?
If you don't feel comfortable discussing this on this thread, please PM me.
Thanks,
Darryl
Actually, to be accurate, the mention I made of stoch div trading has nothing to do with flag trading or my fine-tuning of it. Honestly, after looking at multiple CCIs and other filters for flags I have just come to the conclusion that one is best off looking at the higher TF for trend direction and (for me) putting a 50 EMA on the action charts so I keep in mind the trend direction.

As for stoch div, the LWMAs are multi-timeframe MAs that use the 15m TF as their source, High and Low. The stochastic settings are 8,3,5 and the 'K' line is erased, as only the 'D' line is required to draw the horizontal lines for the curves.

I feel compelled to point out something about stoch div: it's not high-percentage like flags. My stoch div trades only hit about 60-70% of the time and my friend says 70% is about his norm (and he's really a savant at this). The reason it's lucrative is that you can often move your stops up quickly when the 5m TL is broken and get more BEs than losses and when you do hit the TP it is often a 1:3 or 1:4 risk to reward ratio.
  • #53
  • Jan 3, 2012 7:12am Jan 3, 2012 7:12am
[QUOTE=Tailgun;5263937]
I feel compelled to point out something about stoch div: it's not high-percentage like flags. My stoch div trades only hit about 60-70% of the time and my friend says 70% is about his norm (and he's really a savant at this). The reason it's lucrative is that you can often move your stops up quickly when the 5m TL is broken and get more BEs than losses and when you do hit the TP it is often a 1:3 or 1:4 risk to reward ratio.[/quote]

Wow Tailgun do I take that to mean you get a higher hit rate than 70% on your flag trading strategy????

That's awesome my friend I would really like to discuss your flag trading system with you in more detail but like Darryl I'm painfully aware we are stealing Fosters thread so can we connect up somewhere else say back on Divergences Flasg trading the Trend thread or even better via Skype?

My skype address is clive.packham1

Apologies to Foster for hijacking your thread
Feel the Fear and do it anyway!!!
  • #54
  • Jan 5, 2012 2:56am Jan 5, 2012 2:56am
Quoting clivepackham
......

Apologies to Foster for hijacking your thread
  • #55
  • Jan 14, 2012 8:32am Jan 14, 2012 8:32am
Quoting fosters
I have requested for the EA to be based on Swing High/Low instead of Fractal. The Swing High/Low will be a three bar combination. A bar preceded and succeeded by higher lows/lower highs.This should completely eliminate missing trades by the EA.

Hi Fosters,
any news about your EA ? It looked interesting but I don't see any updates .....
  • #56
  • Last Post: Jan 14, 2012 1:09pm Jan 14, 2012 1:09pm
Actually, I am awaiting Raygun in his generosity for the adjustments.
Thanks for your interest, will update as soon as I have anything new.
Quoting nicfx
Hi Fosters,
any news about your EA ? It looked interesting but I don't see any updates .....
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