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Long Term CICR (Cross index currency referance) trading

  • #161
  • Jan 17, 2012 7:36pm Jan 17, 2012 7:36pm
Quoting Demika
USDJPY short if price breaks through 76,50

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Demika, please note that JPY index is inverted. For example for Euro and USD you have EURLFX and USDLFX, however for JPY you have LFXJPY. So when arrows are up for JPY index, it means the currency is weakening.
  • #162
  • Jan 17, 2012 7:42pm Jan 17, 2012 7:42pm
Quoting ragnakore
DK, you mentioned Basket of Currencies.
Do you mean that when you open positions, you'd trade a bunch of pairs same time as a group?

I only trade a few fqvorite pairs namely audusd, eurusd.. i see you trading even exotics

was that the real idea behind this basket?
yeah I like to diversify my trades with many different currencies. I still only recommend 20 cents/pip for every 1k you have in your account per trade. So if I get stopped for 100 pips thats only 20 dollars.

if I have 1 trade that's going bad then I can still have 7-8 trades in the positive. Always make sure you look at the indices before taking any real trades
  • #163
  • Jan 17, 2012 10:01pm Jan 17, 2012 10:01pm
When do you close positions?

Do you close the whole basket batch?
or do you close a position based on target price?
  • #164
  • Jan 17, 2012 10:45pm Jan 17, 2012 10:45pm
Something is wrong with LiteForex's Currency Index.
The last candle disappears periodically!

This is disturbing; it ruins the study.
Take a look, there was a bullish last candle and then the next second, it is gone.
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  • #165
  • Jan 17, 2012 10:50pm Jan 17, 2012 10:50pm
Problem solved.
Apparently, the color chosen by the template is not ideal.
Somehow, when the bar opens/closes at the same price, it produces a bar that has the same color as the background and therefore, invisible candle.
  • #166
  • Jan 17, 2012 11:03pm Jan 17, 2012 11:03pm
Care to tell how u fixed that? Also I close the entire basket when I see trades drawing back a lot or have macd crossovers. Right now my current basket is 275+ and growing so I will leave it in. Probly atleast til friday

I do like the weekly candle and base most of my baskets off of it.
  • #167
  • Jan 17, 2012 11:10pm Jan 17, 2012 11:10pm
I just changed the color preference as shown.
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  • #168
  • Jan 17, 2012 11:16pm Jan 17, 2012 11:16pm
Quoting ragnakore
Problem solved.
Apparently, the color chosen by the template is not ideal.
Somehow, when the bar opens/closes at the same price, it produces a bar that has the same color as the background and therefore, invisible candle.
This is a common problem of MT4 users, when there is a Doji bar, it uses the color of the Line Graph setting, look in your picture it is set to NONE - and that is what you see, or not see

Simply change that to Black, same as Up & Down bars or any other visible color and you will see what I mean, go back on the chart & you can see older Doji bars
It takes a lot for me to IGNORE you, but you can try.
  • #169
  • Jan 18, 2012 12:46am Jan 18, 2012 12:46am
Quoting Erebus
This is a common problem of MT4 users, when there is a Doji bar, it uses the color of the Line Graph setting, look in your picture it is set to NONE - and that is what you see, or not see

Simply change that to Black, same as Up & Down bars or any other visible color and you will see what I mean, go back on the chart & you can see older Doji bars
been using MT4 since 2006 and only now did i get the RIGHT ANSWER!

thanks
  • #170
  • Edited 4:46am Jan 18, 2012 3:02am | Edited 4:46am
Guess one can see signs of reversal on the AUD Index as pointed by the Captain some time back. Prices failed to hold at the current levels. Divergance on H4, Macd in red. Seems poised for the further slide. Start picking A's, AJ short here for now.

An observation: When an index is analysed on a certain TF, the move in the pair can be fould in one TF lower. I use H$ for Index and H1 to H4 for Pair.

Quoting Dyekid217
7/8 of my current trades have been taken based off of weekly analysis. I will post some charts up when I get a chance
So your TA is based on W1, Index or Pair?

Quoting Dyekid217
When I am taking macd signals I always trust the one that is on the higher timeframe. NO MATTER WHAT.
This is momentum and obviously momentum over a longer period is more reliable than short term as you get a bigger movement.
Sure, which higher TF are u referring H4,D1,W1,MN?

Quoting Dyekid217
Rely on the monthly weekly and daily candles. They will usually be going in the same direction.
I agree. And did U get any thing on the MACD divergance?

BTW, Stopped out of AJ, but I believe AUDlfx will come down. Wonder how DK is Long on it. Though it's not a sell as yet but not a convincing buy either.

Regards, M.
There is no such thing as LUCK ! Chance favors the prepared mind.
  • #171
  • Jan 18, 2012 3:33am Jan 18, 2012 3:33am
Quoting fguru
Demika, please note that JPY index is inverted. For example for Euro and USD you have EURLFX and USDLFX, however for JPY you have LFXJPY. So when arrows are up for JPY index, it means the currency is weakening.
So when LFXJPY chart is going up, yen is weakening ? ie USD up and JPY up => buy USD/JPY ?
  • #172
  • Jan 18, 2012 3:59am Jan 18, 2012 3:59am
i would like to mention that LiteForex just recently updated their iPad MT4 xogee platform to version 2.05. it now has indicators, multiple panels/windows.
  • #173
  • Jan 18, 2012 4:08am Jan 18, 2012 4:08am
Long NZD/USD at 0,8033. Looks like a perfect setup:

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  • #174
  • Jan 18, 2012 5:00am Jan 18, 2012 5:00am
Quoting Dyekid217
It'd be much appreciated if you guys posted up some of your trades if you get any.
Here you go, second trade today: EUR/USD long

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  • #175
  • Jan 18, 2012 8:00am Jan 18, 2012 8:00am
Quoting Kruspe
So when LFXJPY chart is going up, yen is weakening ? ie USD up and JPY up => buy USD/JPY ?
Yes exactly.
  • #176
  • Edited 8:46am Jan 18, 2012 8:35am | Edited 8:46am
Good Thread, I'm following you after 2 years of experience with hundred of EA and backtest with luckily a small loss result...I already knew CICR system and I tried it but not in depth.
... this will be for me the last try on forex trading world, I hope that manual trading, discipline and hard study will be the success.
if also manual trading will not be good for me I will quit forex and go for another job... ;-)
  • #177
  • Jan 18, 2012 9:07am Jan 18, 2012 9:07am
hey guys closed my trades for only a 10% profit. I was up 20 but after us opened there was some drawdown.

Still.. another 200 pips bagged not too bad even though were not supposed to be trading after the first 10 days
  • #178
  • Jan 18, 2012 9:21am Jan 18, 2012 9:21am
Hey Dyekid217 could you please post some of your trades for today so I can see why you took the trade... thx again Max

Quoting Dyekid217
hey guys closed my trades for only a 10% profit. I was up 20 but after us opened there was some drawdown.

Still.. another 200 pips bagged not too bad even though were not supposed to be trading after the first 10 days
  • #179
  • Jan 18, 2012 9:40am Jan 18, 2012 9:40am
Quoting Demika
Long NZD/USD at 0,8033. Looks like a perfect setup:

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Demika,

Can you share your CICR indicator? its different from the one posted here.
Secondly, what does those numbers mean?
  • #180
  • Edited 11:03am Jan 18, 2012 10:30am | Edited 11:03am
Quoting Kruspe
its working now, I turned off autodetect , thx Dyekid
Where did you turn off autodetect to get all the LFX indices arrows moving?

My arrows are not moving either on the last GBPLFX chart where they are displayed.

edit: I'm running Windows XP.
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