Attachments: Lon-NY trading system

Lon-NY trading system

#21
Feb 23, 2013 5:09am Feb 23, 2013 5:09am

whatfx
| Joined Jun 2010 | Status: The Villain | 2,565 Posts

Quoting Erebus

Disliked

You do not understand the suggested trading times, not sure how you understand it to be only the "overlap" ? see previous post or watch the video again

At 33:00 of the video, he says that he is only after 3 trades per day; surely on a 1 min charts, even watching the strong trending pairs, I'm sure it is easy to find 3 trades, no luck involved.

Ignored

if you understand , then good for you.

#22
Feb 23, 2013 5:13am Feb 23, 2013 5:13am

whatfx
| Joined Jun 2010 | Status: The Villain | 2,565 Posts

Quoting alon

Disliked

It seems to me that in terms of times you can trade it does not have to be just the overlaping Hours London- New York. You can trade any time that there is a strong trend with the 200 SMA is rising or falling , but not flat!
And the hours that are very volatility. thanyou can find more signals throughout the day with CCI. And the graph also show that signals are correct.
But the main problem again is taking a position that allows on the graph gain of eight Pips when the
spread is 2.5, so a gain of about 5 pips with stoploss of 4 pips is a 1:1...

Ignored

in my opinion, the best time to trade this method is during either london open, or new york open, when trends develop. price would either be above or below the 200sma on the 1m , so you can either take long or short trades off the cci while a trend is in force.

yes, the r:r is not good, as i mentioned before.

#23
Feb 24, 2013 5:55pm Feb 24, 2013 5:55pm

mo3ty2002
| Joined Sep 2010 | Status: Trader | 6 Posts

please ATTACH THAT CCI IND

#24
Feb 25, 2013 6:46am Feb 25, 2013 6:46am

clivepackham
Joined Nov 2010 | Status: Trader | 4,484 Posts

Quoting whatfx

Disliked

where are your entries on this chart ? did you not wait until both the 15m and 1m cci crossed below +100 at the ''same time'' before taking the short trade ? if you wait for the 15 m to cross below +100, by this time the 1m may already be below the 0 line , so too late to enter on the 1m. how do you base your entries ?

Ignored

Hi guys

Sorry not to get back sooner but busy weekend etc.

Have reposted GBPJPY chart with entries marked, basically wait for the 15min cci to give you a signal eg crosses back down over +100 level (you could take this entry if you wish but price is still above 200sma so doesn't qualify under Walkers strategy) then you take the next 2 or 3 1 min CCI signals, eg crossing down through the 100 level. (both entries marked with yellow lines. Sorry to say I didn't catch these as I was in bed but just used it as a good example.

Basically look for a 15min pair that is in a strong down trend producing LH's then after the 15 LH CCI signal take the next couple of 1 min CCI signals.

It works on uptrend too just the opposite way round obviously as per EURCAD this morning chart attached. Just keep loading and trail you stops up every HL CCI signal you take until stopped out.

CCI indicator attached. Settings 20 for 1 min cci and 15min CCI setting is 300 (1 min setting times 15 mins 20x15=300).

Can use system on any timeframe but try to keep the ratio 1:15 ish so:

Trading 1 min trend use a strong 15 min trend for direction etc
Trading 5 min use 1 hr for trend. (2ndcci setting would be 20x12=240)
Trading 15min use 4 hr trend. (2nd cci setting would be 20x16=320)
Trading 1 hr chart use daily trend. (2nd cci setting would be 20x24=480)

I can't over emphasise how important it is to only trade a strong trending pair in the upper timeframe, then the lower time frame signals are pretty reliable.

I've only just started tading this method myself so I am by no measure an expert but I like it and early signs are it is a very good strategy.

Hope this all helps.

All the best Clive.

Attached Image(s) (click to enlarge)