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Long Term CICR (Cross index currency referance) trading

  • #181
  • Jan 18, 2012 10:42am Jan 18, 2012 10:42am
Quoting ragnakore
Demika,

Can you share your CICR indicator? its different from the one posted here.
Secondly, what does those numbers mean?
Since the arrows are calculated on RSI the numbers probably have s.th. to do with the current RSI value. I'm not looking at those numbers, so I can't tell you for sure.

The indicator is taken from post#1 so is should be the original one.

Btw. got my drivers license today
  • #182
  • Jan 18, 2012 11:31am Jan 18, 2012 11:31am
Quoting ibotman
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.
Ok, I figured it out. I added CICRAlerter to a new chart. I then edited the CICRAlerter: I entered all the LFX pairs, Set ShowCurrentPairOnly to false, set Autodetect to false. Now the arrows are moving for all my LFX indices!

Now, how to turn off the alert popup window? It pops up constantly.

Or are people actually actively using the info in the popups?
Attached Image (click to enlarge)
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  • #183
  • Jan 18, 2012 12:00pm Jan 18, 2012 12:00pm
Quoting ibotman
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.
If you are trying the profiles of the first post, your arrows are not moving because there isn't the indicator anymore on the chart, there are just the saved static text-labels, you should open a new chart and put on it the indicator cicr alerter and set the parameter autodetect to false, then hidden all in the property chart to have a black chart. hope this help.
  • #184
  • Jan 18, 2012 12:24pm Jan 18, 2012 12:24pm
Please keep in mind that all indicators will show different results when compared depending on your broker server time. Also they change depending where the price is at any given point in its respective time frame. This is what causes repainting in back tests. While nobody likes it its something natural.
I use IBFX as they use GMT time. Here in the Eastern US is 7-8 pm. This is when new candle begins.

Question to Dyekid217:
How would you compare this system to CCFP? (this is what I demo trade right now)
  • #185
  • Jan 18, 2012 2:48pm Jan 18, 2012 2:48pm
hey guys sorry I haven't been as active as usual. I'm currently learning how to trade atr projections intraday with the cicr system. Trade setups will be posted soon
  • #186
  • Jan 18, 2012 4:12pm Jan 18, 2012 4:12pm
Quoting ibotman
Ok, I figured it out. I added CICRAlerter to a new chart. I then edited the CICRAlerter: I entered all the LFX pairs, Set ShowCurrentPairOnly to false, set Autodetect to false. Now the arrows are moving for all my LFX indices!

Now, how to turn off the alert popup window? It pops up constantly.

Or are people actually actively using the info in the popups?
You were pretty close when you were in Settings
Attached Image (click to enlarge)
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It takes a lot for me to IGNORE you, but you can try.
  • #187
  • Jan 18, 2012 4:20pm Jan 18, 2012 4:20pm
Closed both trades:

-> NZD/USD long closed at 0,8022 (-11 pips)
-> EUR/USD long closed at 1,2852 (+20 pips)

I'm really impatient with the NZD/USD one since it was at +40 pips and plunged around 45 pips in just one minute after CPI release.

Let's see if there will be other opportunities tomorrow...
  • #188
  • Jan 18, 2012 6:21pm Jan 18, 2012 6:21pm
I am seeing:
Bull EUR
Bull JPY
Bull CHF
Bear USD
Bear AUD
Bear NZD

can anyone confirm?
  • #189
  • Jan 18, 2012 6:39pm Jan 18, 2012 6:39pm
Quoting ragnakore
I am seeing:
Bull EUR
Bull JPY
Bull CHF
Bear USD
Bear AUD
Bear NZD

can anyone confirm?
The title of this thread is LONG TERM so I think your views there may be intra-day?

Very hard to make an educated comment to your question with the limited information you provide, sorry if that sounds blunt, but I can show a chart opposite for most of the pairs posted

It takes a lot for me to IGNORE you, but you can try.
  • #190
  • Jan 18, 2012 8:20pm Jan 18, 2012 8:20pm
Quoting Erebus
The title of this thread is LONG TERM so I think your views there may be intra-day?
Hey guys, I started a new thread for intraday CICR, so that we do not mix the two. I am very interested in people posting to the intraday thread as I want to learn that too; I assume I am not alone.

Hope this helps:
http://www.forexfactory.com/showthread.php?t=337566
  • #191
  • Jan 18, 2012 9:58pm Jan 18, 2012 9:58pm
Quoting Erebus
The title of this thread is LONG TERM so I think your views there may be intra-day?

Very hard to make an educated comment to your question with the limited information you provide, sorry if that sounds blunt, but I can show a chart opposite for most of the pairs posted

im reeading em through 4H charts
  • #192
  • Jan 18, 2012 10:18pm Jan 18, 2012 10:18pm
Quoting ragnakore
im reeading em through 4H charts
That looks about right, let's see if EUR_USD can conform to the Index projections, bit of follow thru from yesterday be great, a blow off top before the demise of the EZ

It takes a lot for me to IGNORE you, but you can try.
  • #193
  • Jan 19, 2012 2:36am Jan 19, 2012 2:36am
i am wanting to short AUDUSD as AUDX is falling. But USDX. is weak as well. SHORT AUDUSD wpnt give much run.
  • #194
  • Jan 19, 2012 3:32am Jan 19, 2012 3:32am
I would long instead... but still not in my playbook yet. waiting for more confirmation. maybe next week
  • #195
  • Jan 19, 2012 4:24am Jan 19, 2012 4:24am
How do you get you exits? Just shorted GBP/CHF because four out of five arrows in GGPLFX turned red while all five arrows in GBP/CHF were red:

Attached Image


Now, just 15 minutes later in GBP/CHF H1 is blue, H4 and D1 are yellow so the strenght/weakness on which the trade is mainly based does not exist anymore. Would you close the trade now or just set a SL let's say 50 pips away and see what happens?

Btw. it's a real pity that no ones seems to be able or willing to answer my question how to deal with the quick switches, even in D1 arrows. It's nothing personal but it looks like no one here really understands the influencing factors of the CICR indicator. Allright, there are one or two who seem to have a basic unterstanding of the arrows (calculated on current position and some other factors of RSI(3) ) but by now nobody seems to know how to trade this strategy virtually. Sorry if I'm wronging somebody.
  • #196
  • Jan 19, 2012 4:35am Jan 19, 2012 4:35am
Quoting Demika
How do you get you exits? Just shorted GBP/CHF because four out of five arrows in GGPLFX turned red while all five arrows in GBP/CHF were red:

Attachment

Now, just 15 minutes later in GBP/CHF H1 is blue, H4 and D1 are yellow so the strenght/weakness on which the trade is mainly based does not exist anymore. Would you close the trade now or just set a SL let's say 50 pips away and see what happens?

Btw. it's a real pity that no ones seems to be able or willing to answer my question how to deal with the quick switches, even in...


Hi Demi,

it seems that you watch only on arrows.. thatīs not the way, how to trade this strategy. You have to recognize trend on each currency (H4, D1 and W1 trends)... then you are able to choose which currency is the best to go short/ long... ie: aud was strongly up, gbp was down... => sell gbp/aud... it was a long term trade... now it seems like AUD will breakout TL (down and pinbar on weekly chart) and will change trend to down. Then I will look for uptrend currency (maybe EUR, CHF.. will see) and combine currencies to pairs. I hope it helped you to understand the principle.


K
  • #197
  • Jan 19, 2012 5:01am Jan 19, 2012 5:01am
Quoting Kruspe
Hi Demi,

it seems that you watch only on arrows.. thatīs not the way, how to trade this strategy. You have to recognize trend on each currency (H4, D1 and W1 trends)... then you are able to choose which currency is the best to go short/ long... ie: aud was strongly up, gbp was down... => sell gbp/aud... it was a long term trade... now it seems like AUD will breakout TL (down and pinbar on weekly chart) and will change trend to down. Then I will look for uptrend currency (maybe EUR, CHF.. will see) and combine currencies to pairs. I hope it helped...
Hey Kruspe,

thank's for you reply. Understood your point but that sounds like a "normal" system: looking for strong and weak currencies (dosn't matter if the trend is determined by trendlines, MAs tbc.) and combine them. Which role does CICR play in this construct?

I'm not only trading the arrows. My approach is as follow: 1st looking at the indices. If there is one or more with four/five out of five arrows in blue or red I switch into the profile of this index. Threre I'm looking for pairs who match like GBP/CHF in my last post. At this point I've fugured out lets say two pairs which look promising. My last step is to look at the charts of these two pairs and depending on some criteria (among others two moving averages, S&R levels) I decide to trade this currency or not.
  • #198
  • Jan 19, 2012 6:02am Jan 19, 2012 6:02am
@ Demika,

Sorry, perhaps we are reluctant to answer about the arrows as we are all learning the method & watching how the indicators behave, tha same as you.

Anyway, Kruspe has given a pretty good answer, I understand at least, and here is example chart of EUR index going up, and the EUR-USD trade.

Please notice that once I select the pair based on Index vs Index, and the arrows only part of this, mainly look at the Monthly, Weekly & Daily candle direction, MACD, then I use price action to enter, monitor & exit the trade - arrows will not affect me during this time.

Regards, E.
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It takes a lot for me to IGNORE you, but you can try.
  • #199
  • Edited 7:36am Jan 19, 2012 7:36am | Edited 7:36am
Hello Demika,
The way U described in your earlier post your style of trading this method, I can vouch that the approach is wrong as far as the CICR is concerned. There is a PDF on the first post of CICR system by Capito. This PDF is the jist of the system. Please read it carefully. You may not understand it clearly at first but then that's the way with the first time. I myself read and re-read the PDF altest 5 times to make clear sense and even then I had questions. After you read it couple times and get a hang of what is said, I suggest you write it down on a peice of paper. Please don't cheat your self when you are writing it down as that is the essence of learning. If you look back at the PDF while you have to write it down, means you have doubts and have not read clearly. This is a must for understanding and the system may vary from person to person based on their understanding. That's how variations are made.

This is a post I wrote in the main CICR thread as far as I could understand the system. Read and let know of the same ( http://www.forexfactory.com/showthre...22#post5115222 ). As far as your query regarding the RSI arrows is concerned, I'm sure they'll be clear after you read the PDF and this post in the link. In short, RSI arrows are just a 20% part of the system and they are used only when certain conditions are met. You can't base your trades off the analysis of the arrows itself no matter even in the index. They are part of a sequence and you have to first find the sequence then only think about the arrows. Hope you get my drift. Please try the excercise and help your self. After that, please do post your queries.

Don't be disappointed if your queries are not answered at first. Maybe they are in the wrong place or the wrong time. if this ever happens, find another relevant thread for your query and repeat the query there. Keep repeating in couple days till you get the answer. This has always worked for me though I'm yet to get an answer for one of my Divergance queries. I'll get my answers in a while. Nevermind.

M.
There is no such thing as LUCK ! Chance favors the prepared mind.
  • #200
  • Jan 19, 2012 7:38am Jan 19, 2012 7:38am
just closed my first 3 intraday trades for 117 pips. around %12 of my initial balance =)
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