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  • #121
  • May 29, 2014 5:33pm May 29, 2014 5:33pm
Bit tight for time tonight but had a quick review of my trades the last few days and can't believe how many losers I am having.

I have not traded this many losers ever. Maybe its something to do with trying too hard to have a successful thread, maybe the added pressure is just too much??

Anyway my Explorer account isn't looking too good is it??? 25 trades in total, 4 winners 8 BEs and 13 losers, not too impressive.

However the good news is due to my Money management plan and amazing discipline dispite trading at 1% per pip, 10% across 10 pip stops, I still have my account surviving.

Now that to me is good trading strategy as despite an appalling strike rate I haven't blown my account away. However I need to review my strategy because something is not right.

Having checked through every trade I took today I think I was entering far too quickly. I feel I was trying to play catch up once I started losing (just not use to it I guess) so kept jumping the gun on my entries.

Going to be different tomoz as will just trade my usual way paying attention to my entry and wait for them to set up properly. Also I am a trend trader so gonna just trade the trend, buy HLs and double bottoms only, sell LHs and DTs only.

Will cut any losers very quickly too my 10 pip stop is for emergencys only, 9 times out of 10 should be me closing manually to cut losses early or take profit.

By the way on the subject of money management I have only committed 20% of my available funds as I said on post 31 I have only committed £100 of my £500 available so only actually down 14% of my total funds available so not too displeased with that, again just sensible money management don't commit all your funds to your account just in case theres some awful worldwide calamity like 9/11 sending the financial markets into turmoil along with your trading funds.

Well i haven't given up yet and never will I either, I am gonna beat this forex trading if its the last thing I do. Sound money management has kept me in the game dispite a horrendous start to my thread.

Just gonna trade as if you guys aren't here tomoz , take every entry that comes and trade with the trend until the trend ends.

Won't be posting so much durring trading times as I feeel its messing up my concentration, gotta stay "In The Zone".

See you all tomoz.
Feel the Fear and do it anyway!!!
  • #122
  • May 29, 2014 6:54pm May 29, 2014 6:54pm
Quoting clivepackham
Bit tight for time tonight but had a quick review of my trades the last few days and can't believe how many losers I am having. I have not traded this many losers ever. Maybe its something to do with trying too hard to have a successful thread, maybe the added pressure is just too much?? Anyway my Explorer account isn't looking too good is it??? 25 trades in total, 4 winners 8 BEs and 13 losers, not too impressive. However the good news is due to my Money management plan and amazing discipline dispite trading at 1% per pip, 10% across 10 pip stops,...
Hiya Clive, Don't get me wrong. You have far more experience in forex and all that money management than I do. But below is a screenshot from your trade explorer summary. These are the 3 lines that I really look into when looking for a sound money management. I do believe that something is not working for you right now with this strategy and you might be able to get back on track asap. But as far as I know with a low win percentage and average losing trade being far more than the average winners there might be a problem waiting just round the corner. Now how you fit that into your mm strategy is totally upto you because you haven't opened that pandora's box to us yet. I just believe there haven't been enough losers yet to take down that account. Moreover I believe you were chasing GBPJPY yesterday.

And all your green trades are mostly zero. So to add I guess focusing on a strategy entry and exit should be the main criteria now for you rather than concentrating solely on money management. Because a better entry and exit signals are in itself the backbone of a better money management.

Attached Image


Just my 2 cents.

Cheers !!!
  • #123
  • May 30, 2014 4:09am May 30, 2014 4:09am
Quoting clivepackham
Bit tight for time tonight but had a quick review of my trades the last few days and can't believe how many losers I am having. I have not traded this many losers ever. Maybe its something to do with trying too hard to have a successful thread, maybe the added pressure is just too much??
Hi Clive

I hope this will help its certainly done with the best of intentions. Whenever I look at something new to see if I will tweak my existing method or try something new I look back at 20 days uptrend, 20 days downtrend and 20 days sideways market. The results can be very interesting:

- a strong trending pair like some jpy, aud pairs might get quicker entry that others back into trend (OK you largely look at 1 min so this might apply differently)
- I look at the times of moves, very quickly decided that once LO has had say 50-70 pips (can be more for some pairs) then on most days that will be it until US session. Found that most often the 3rd and 4th moves off 5 min were really high risk and often ended in tears so was quite happy to cut that trade out as a low risk of success. If I had missed the first 2 LO moves then would wait for US session
- Found that often LO and pre/early US session CT moves were to be avoided if they are what I would describe as weak (say an inside bar or doji on 1hr) and from there I built up my CT trade rules only from specific areas. On a trending day I'd be waiting for US session to resume the trend set by London. This might actually tie in with your high low of the day, the retraces you have around LO only to revert to trend often the H/L of the day
- Overall I found that I couldn't trade consistently like say Islander off 1 min so despite some I'll get this right left his style as it just didn't suit me. What I did pick up very quickly from him was the amount of analysis done to research his method in the time of day he was going to trade, it was staggering
- Found that pretty much despite the method there are 2 absolute basics to trading, trend (flow of the market) and support/resistance and that any idea no matter how good will not overcome those basics.

So to try and put in a nutshell, research the pairs you trade in the session you trade and get a really good feel for expectations. Hope this helps as I am looking forward to taking your trade ideas out for a spin.

What I can say without hesitation is no matter what I find, however much I might like the method once investigated of course nothing will replace the 10,000+ hours of chart time built up that contributes to the things that work for me.

Like I said I hope this helps its with the best of intentions.
  • #124
  • May 30, 2014 4:16am May 30, 2014 4:16am
Quoting High-roller
{quote} Hiya Clive, Don't get me wrong. You have far more experience in forex and all that money management than I do. But below is a screenshot from your trade explorer summary. These are the 3 lines that I really look into when looking for a sound money management. I do believe that something is not working for you right now with this strategy and you might be able to get back on track asap. But as far as I know with a low win percentage and average losing trade being far more than the average winners there might be a problem waiting just round...
Thanks Highroller

Great review of my trading account and a great summary, couldn't agree more so I am reviewing my entry criteria and as you quite rightly pointed out, looking to increase that RR.

So how can I tackle these issues with one change???

Yesterday I felt I was just taking entries willy nilly all over the place frantically trying to make up for my losses and just making the problem worst as the day wore on. So how do I stop that??

Well, from now on, I am going to become far more selective on which ABCD's I trade. I will reduce how many entries I take and at the same time look for a place to enter that will lead to a higher RR.

If I can catch some at say a daily low or high or catch a HL turn in a strong trending 15 min pair then I could hold on the 15 min trend. That might lead to a 100 plus pip run from a 10 pip stop. Nice little RR of 10:1.

So how do I plan to do that? I am going to look for 1 min reversals. These are easily identified as 15 min CCI turns.

Basically I am trying to catch that first pullback in a reversal "Vantage style" from his Higher low lower high thread ,awesome thread by the way, now a 1 min reversal is a 15 minute CCI turn so I will be monitoring 15 min CCI signals, especially oversold ones (over 200 levels).

To that end I have decided to look for a 15 min CCI turn before looking for an entry on the 1 min in that direction. I have found these 1 minute entries after a strong move down quite reliable.

I will trade the move as an Elliot Wave entering on waves 2 and 4 and exiting end of wave 5.

On the example chart shown below would of resulted in 2 trades of approximately 20 and 40 pips, much better RR.

Well thats the plan but as we all know a plans one thing, trading it? Now that's another thing all together.

Thanks again for such a great post.

Would be really helpful to me if you could regularly review my explorer results and post your thoughts here on the thread. Lets see if I can turn things around???

If we all work together we'll beat this Forex trading game for sure.
Attached Image (click to enlarge)
Click to Enlarge Name: trade the vantage way first HL.png Size: 70 KB
Feel the Fear and do it anyway!!!
  • #125
  • May 30, 2014 4:35am May 30, 2014 4:35am
Hi Clive

If this is getting off base please just tell me and I'll remove this post and the previous one.

The gbpjpy is a classic example of what I have been using for years. I'm not talking about catching the top of the market on 27th (separate discussion there) but after that days close to see what the 28th brings. The engulfing close on 27th is such a good set up that there would have to be some very, very specific pa on 28th to see me buying. So the view for 28th would be down, because we had a D move up on 22nd, 2 D hammers/dojis then the engulfing negative close.

Using my 1hr charts just to show the idea, the move down on 28th in and around LO, the 'weak' CT candles pre/early US session and the resumption of trend US session happen so often that when I'm researching your ideas I'll be doing it in the light of these kind of D set ups.

To be patient and take the right trades (set up from D) with entry from 1, 5 or 15 min with the small stops and the RR that is implied is very interesting.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpydaily.png Size: 40 KB
Click to Enlarge Name: gbpjpyh1.png Size: 35 KB
  • #126
  • May 30, 2014 4:39am May 30, 2014 4:39am
Quoting Vantage
{quote} Hi Clive I hope this will help its certainly done with the best of intentions. Whenever I look at something new to see if I will tweak my existing method or try something new I look back at 20 days uptrend, 20 days downtrend and 20 days sideways market. The results can be very interesting: - a strong trending pair like some jpy, aud pairs might get quicker entry that others back into trend (OK you largely look at 1 min so this might apply differently) - I look at the times of moves, very quickly decided that once LO has had say 50-70 pips...
Wow!!!!!

Awesome post Vantage!!!!

Absolutely invaluable information here for anyone who is trying to beat this Forex game.

We must have crossed over on those last 2 post so will now take on board and fully digest what you are saying and get back to you asap.

This is incredible first week of my thread, my trading is crap but the information shared on here is immeasurable.

Lets all keep this going and help each other become successful traders, or in your case Vantage "even more successful" trader, if thats possible.

In a funny way I am pleased my trading has been so appalling this week as the advice and support I've received is amazing.

Like my Dad always said "You learn so much more from your mistakes as you do from getting it right"

Very true Dad!!!
Feel the Fear and do it anyway!!!
  • #127
  • May 30, 2014 4:49am May 30, 2014 4:49am
Quoting clivepackham
{quote} Wow!!!!! Awesome post Vantage!!!! Absolutely invaluable information here for anyone who is trying to beat this Forex game. We must have crossed over on those last 2 post so will now take on board and fully digest what you are saying and get back to you asap. This is incredible first week of my thread, my trading is crap but the information shared on here is immeasurable. Lets all keep this going and help each other become successful traders, or in your case Vantage "even more successful" trader, if thats possible. In a...

Hi Clive

Yes our posts were crossing but your trades gbpnzd above, 2 and 4 are the moves in and around LO, if you miss those the entry at 5 is starting to get very high risk and should be avoided. Its had its LO run. Having made the decision to leave those moves (the 3rd/4th in run marked 5 in chart) you don't beat yourself up if it goes again as you 'know' the odds are in your favour that most of these will struggle, rather waiting to see what US session will bring.
  • #128
  • May 30, 2014 4:50am May 30, 2014 4:50am
Hello Clivepackham,
I fully endorse what Vantage and Highroller have said in there posts,i have been trading for many years and followed countless trading systems on this forum and i think i have lost count of the number ot times contributors systems fall flat very quickly, i have had it happen to me many times, you wake up in the middle of the night with a great system just bursting out of your head which you just know will make a killing and looks great with the backtesting ,and even on your demo account ,then you start trading it live and it all goes to crapp, why? a lot of the time it is not the system but your own emotions that come into play as soon as you put your own hard earned on the table.
The only way you can control your emotions is to be so confident in your system that you know the longterm outcome of your trades that you can trade without fear, without fear of winning or loosing. And this can only come with time ,chart time and lots of it, it took me 5 yrs full time to get to that stage ,i could have gave up many times but it got to the stage that i had invested so much of my time to trading i couldnt afford to give up.
And you know what, when i finally found the system that worked for me i realized it was there staring me right in the face all along, i just couldnt see it.
Trading is not easy infact it has been the longest and hardest journey i have ever taken but it feels good when you get it right.
Sometimes the hardest thing to find is what is just in front of you.
Dont give up , keep plugging away ,afterall if it was easy every one would be doing it
patience is bitter, but its fruit is sweet
  • #129
  • May 30, 2014 5:01am May 30, 2014 5:01am
Quoting clivepackham
{quote} Thanks Highroller Great review of my trading account and a great summary, couldn't agree more so I am reviewing my entry criteria and as you quite rightly pointed out, looking to increase that RR. So how can I tackle these issues with one change??? Yesterday I felt I was just taking entries willy nilly all over the place frantically trying to make up for my losses and just making the problem worst as the day wore on. So how do I stop that?? Well, from now on, I am going to become far more selective on which ABCD's I...
Not a problem I will try and help as much as I am able to. .. Cheers !!!
  • #130
  • May 30, 2014 5:10am May 30, 2014 5:10am
Quoting Vantage
Hi Clive If this is getting off base please just tell me and I'll remove this post and the previous one. The gbpjpy is a classic example of what I have been using for years. I'm not talking about catching the top of the market on 27th (separate discussion there) but after that days close to see what the 28th brings. The engulfing close on 27th is such a good set up that there would have to be some very, very specific pa on 28th to see me buying. So the view for 28th would be down, because we had a D move up on 22nd, 2 D hammers/dojis then the engulfing...
This is absolutely amazing!!!

This is exactly what I am after, I have said for so long to anyone who wants to listen that price can only go up or down, its as simple as that!!

Let me just say that again,

"Price can only go up or down"

It ain't rocket science guys???

Every 15min , daily , weekly or monthly run began with a 1 minute reversal!!! Simple as that!!!

All we have to do is find that 1 min reversal enter with a 10 pip stop and hold for the next 2 years!!!

The ultimate trading method!!!

Now surely if we can identify possible long term support and resistance levels and enter them on the 1 minute chart with a 10 pip stop we've cracked it.

Yesterday I did exactly that I called the 169.50 level on GBPJPY as a great daily support level and where did it turn???

169.53!!!!

Whoose to say it will ever come back there again???

Sorry to say I didn't trade it well yesterday as we all know but the ideal is right with a little more belief in these daily levels we could drop down to 1 min charts and trade the reversals your good old first Higher Low entry risk 10 pips get the risk off the table asap by going to BE at say 5 pips and see how it goes.

Now thats what I call trading.

So heres the system,

1) Identify strong support and resistance levels on daily charts.

2) Wait for 1 minute to reverse in the direction of the Daily trend (suggest we trade a15 min CCI signal)

3) Enter on next two 1 minute CCI signals wave 2 and 4 elliot wave. (use 10 pip stop)

4) move to BE at say 10 pips

5) Trade the daily momentum so Exit on daily candles Hieken Ashi colour change.

I reckon thats gotta be worth a shot.

So if anyone sees any daily levels they like post them up here and I will take a shot at them,.

Lets face it, its got 2 choices it can only go up or down.
Feel the Fear and do it anyway!!!
  • #131
  • May 30, 2014 5:28am May 30, 2014 5:28am
Quoting clivepackham
Lets face it, its got 2 choices it can only go up or down.
lol, yes that's true but don't forget the bl00dy spread as well
Don't forget that a good trader can make a decent living out of 10-20 pips a day and that you should stop dreaming of 50+ pip runs with a 1 min system....
So what's your plan for next week in terms of number of pips? Which broker(s) are you with out of interest?
Good luck!
  • #132
  • May 30, 2014 6:42am May 30, 2014 6:42am
Quoting jonnypants
{quote} Don't forget that a good trader can make a decent living out of 10-20 pips a day

My trading results have taken a positive U-Turn when I started to realise this point.
  • #133
  • Edited 6:46pm May 30, 2014 8:39am | Edited 6:46pm
Quoting Vantage
{quote} Hi Clive Yes our posts were crossing but your trades gbpnzd above, 2 and 4 are the moves in and around LO, if you miss those the entry at 5 is starting to get very high risk and should be avoided. Its had its LO run. Having made the decision to leave those moves (the 3rd/4th in run marked 5 in chart) you don't beat yourself up if it goes again as you 'know' the odds are in your favour that most of these will struggle, rather waiting to see what US session will bring.

Hi Vantage

How strange is this universe that I was busy typing up a chart called "Trade the Vantage way first HL" and at the same time you were typing a post to my thread. The universe moves in mysterious ways for sure.Now I happen to believe you and I have been thrown together on FF for a reason, I love my 1 minute charts and you have years of experience of market opens like London,New York and Tokyo. Together we could make this work, I'm sure.

Here's how I see it.

Whenever a market opens eg London , New York Tokyo etc some new money comes to the market so causing massive moves on our 1 minute charts and perfect little trends eg HHHLs LHLL's , this tells us exactly where the money is flowing, has to doesn't it, when you think about it??? Thats our old friends Fred and Gladys filling their boots.

Also like you quite rightly say if there has been a recent move against the daily trend then London's professional traders take the opportunity to buy into a strong daily trending pair. A fine example of this is the GBPUSD has been trending strongly up for the last 9 months at least, have a look at chart below its 100lwma (its the ma that I use on my top 8 trenders indy) has been sloping up for all that time and would be in the top 8 trenders for sometime now. Giving us the heads up to try and identify an entry opportunity for the last 9 months.

Attached Image (click to enlarge)
Click to Enlarge Name: could we catch these daily signals.png Size: 83 KB


We could use the top 8 trenders to identify strong trending pairs and wait for a pullback day. I can set the top trender to show top 10 lwma sloping pairs that way we are trading a very strong daily trend just wait for a pullback day and next day buy the first 15 min CCI signal. My 1 min reversal play.

GBPUSD has been trending up for a long time now so probably too late to join the party (mind you when does a trend end? Whoose not to say it will carry on up for another 20 years from here?). I bet for the last 9 months London has been adding to its position whenever it could on every pullback you can see.

Just to the side here 1.6700 might be worth a 1 min reversal punt on Monday, its almost the identical set up to 5/02/14, what do you think??
EDIT: The blue MA on the chart is actually the 100sma not the 200sma as I labelled it.

The point I am trying to make here is that if London Boys are piling their money in at London open then the 1 minute chart will be flying up the page. Now thats what I will be looking for whenever London opens, which pair is flying on the 1 min??? Thats the pair I want to jump on and hold on tight for as long as I can. Cos that's the pair Fred and Gladys are all over like a rash.

Now we could play this several ways either:

1) Just take whatevers moving (top 8 trender) then we could have a look at longer term charts to decide whether to hold or fold?

2) If its a pair trending strongly on Daily charts hold it on the daily chart, Heiken Ashi candle colour change maybe.

3) If its counter daily trend then just bank it end of story.

4) If its counter daily then just hold on a shorter timeframe eg hourly, 4 hour etc.

5) Or if you want to be really clever bank half let half run.

"There's more than one way to skin a cat" as my dear old Dad use to say.

Anyway plenty of food for thought there so give it some thought let me know what you think??

By the way what time would you recommend trading this 1 minute entry system to catch the money coming to the market what time in your experience is the best time to look at the top trender and say. "You're our boy for the day lets see if we can catch a ride with our old friends Fred and Gladys"

Great as it is sharing posts with you, but I would prefer to have a good old chat on on skype to discuss further.How about you??

My skype address is Clive.packham1

All the best Clive.
Feel the Fear and do it anyway!!!
  • #134
  • May 30, 2014 10:11am May 30, 2014 10:11am
Quoting jonnypants
{quote} lol, yes that's true but don't forget the bl00dy spread as well Don't forget that a good trader can make a decent living out of 10-20 pips a day ....

Quite true, the most success I've had in trading live came from picking just 8 pips a day.
The least monthly return was 30%, that came from a M5 system, but I know I've got a hang of this M1 trading that I can go live again.
Let it turn and find your entry.
  • #135
  • May 30, 2014 10:33am May 30, 2014 10:33am
Quoting jonnypants
{quote} lol, yes that's true but don't forget the bl00dy spread as well Don't forget that a good trader can make a decent living out of 10-20 pips a day and that you should stop dreaming of 50+ pip runs with a 1 min system.... So what's your plan for next week in terms of number of pips? Which broker(s) are you with out of interest? Good luck!
Hi Jonnypants

I trade with Vantage fx very good spreads on all pairs not just the majors so means I can trade whichever pair comes out of the London open the fastest. eg gbpnzd,eurnzd 2 to 3.5 pips eurjpy ,gbpjpy 2 to 3.5 pips EU and GU both below 2 most times. No commision just spread and claim to be stps but I'm not so sure any of these brokers actually do that with piddly little accounts like mine.

Yep like the idea of just targeting so many pips per day. But I think that could limit me so I'd rather just have a system that takes as much out of each move as the market gives me. Thats because I intend to just trade the trend of the pair thats top of 8 trenders until it ends, so on a good day might get 100 plus pips with a bit of luck.

I am sure you won't believe me after my appalling results on my explorer this week but I have doubled my demo and live account in a day before now when I catch a nice little trender. Just didn't happen this week. Typical isn't it , the market made me look like a complete fool.

I am also looking for those 15 minute cci signals too to hang onto as a sort of long term play. If I catch a good one at a good daily level will endeavour to hold on higher time frame.

So to answer your question I will be looking to follow the top trender on London and New York opens plus taking 15 min CCI turns looking to hold.Well thats the plan, one bit of good news is I can't imagine it getting any worst than this week, can it????

By the way many thanks for defending me against one of the more critical posters but please don't worry I will deal with any "trolls" my way. Anyone can critisize what I do, thats fine with me. In fact fully expect that, but when they start throwing personal insults around and being unconstructive I will just ban them. It will be their loss because I have a feeling , with some of the guys on here like , Vantage etc we have the potential to form an incredible collection of like minded people whoose only interest is to improve their trading.

If idiots start throwing insults around then they will be banned and miss out completely on a massive opportunity to better their trading.

Many thanks again for your support and posts, lets make this an awesome thread together.

Cheers Clive.
Feel the Fear and do it anyway!!!
  • #136
  • Edited 11:02am May 30, 2014 10:49am | Edited 11:02am
Quoting rifid
Hello Clivepackham, I fully endorse what Vantage and Highroller have said in there posts,i have been trading for many years and followed countless trading systems on this forum and i think i have lost count of the number ot times contributors systems fall flat very quickly, i have had it happen to me many times, you wake up in the middle of the night with a great system just bursting out of your head which you just know will make a killing and looks great with the backtesting ,and even on your demo account ,then you start trading it live and it...
Hi rifid

Great post.

Without doubt the biggest obstacle to my trading has been discipline and controlling emotions. Hence my footer

"Feel The Fear and do it anyway"


I, like you have been trading for about 5 years and I too thought I had cracked it so decided to start this thread. But got a bit of a shock as to how posting my explorer publicly seemed to adversely effect my trading and I started getting loser after loser and of course the more I lost the more I wanted to catch another trade. I'm sure you know what I'm talking about, the harder I tried to make amends for my losers the faster they came.

I think I was just trying too hard and chasing the market.

I will say one thing that I was very proud of and that was the way I held my money management plan together that I was pleased with, many times in the past I would of increased my risk trying to catch up quicker but I didn't so at least I still have some money left to trade with this week.

Anyway that was last week hopefully it will get better next week. Lets face it can't get much worst can it? Or can it????

Thanks for your post I intend to dedicate a whole post to the 4 fears of trading next week sometime when I get 5 mins as I believe it is the single most important thing to conquer in trading.

Thanks again and welcome to our thread.
Feel the Fear and do it anyway!!!
  • #137
  • May 30, 2014 11:01am May 30, 2014 11:01am
Quoting clivepackham
{quote}I have a feeling , with some of the guys on here like , Vantage etc we have the potential to form an incredible collection of like minded people whoose only interest is to improve their trading. If idiots start throwing insults around and they will be banned and miss out completely on a massive opportunity to better their trading. Many thanks again for your support and posts, lets make this an awesome thread together. Cheers Clive.
Hi clive
Keep on keeping on.
I'd like to just think out loud for a while, I took a liking for your M15 CCI and the fact that it's purely curve fitted not MTF (the mtf just is not reliable enough for me).
Now I also like the top 8 trenders it's a great tool in the arsenal.
Looking at your charts I'd wonder why match 210 CCI with 120 LWMA?
210 divided by 14 period equals M15 but 120/14 = 8.58
I feel it would more congruent to match like with like, if you'd use the 210 CCI then use the 210 MA, you can still grade your pairs by the 8 top trenders.
It's just a suggestion just try it out and back test it.

One other thing I learnt from Strada (from Rooi's thread) is if you are going to trade the M1 just focus on M1 price action, no need bothering yourself with what is happening on the H$ or D1. I agree cos H4 may tell you a new trend has formed but only for the "big bois" to continue or turn the market. just trade what your M1 charts tell you.
I praise your courage for taking trade after trade, but you gotta be ready before FO to catch the moves even if you are faked out your M1 set-up will catch -up with the market, believe me I've seen it in all your M1 charts posted, you have cracked it believe me!.
This morning I was faked out at FO, my 6 pips SL was hit but still my set-up caught up with the market but I just was not available to take the next signal.
I'm posting a chart which shows an example of what I'm saying with your CCI set-up but with 210MA.
Attached Image (click to enlarge)
Click to Enlarge Name: _2014-05-30_16-59-10_CATCHING UP.png Size: 112 KB
Let it turn and find your entry.
  • #138
  • Edited 6:51pm May 30, 2014 11:57am | Edited 6:51pm
Quoting Intrepidpips
{quote} Hi clive Keep on keeping on. I'd like to just think out loud for a while, I took a liking for your M15 CCI and the fact that it's purely curve fitted not MTF (the mtf just is not reliable enough for me). Now I also like the top 8 trenders it's a great tool in the arsenal. Looking at your charts I'd wonder why match 210 CCI with 120 LWMA? 210 divided by 14 period equals M15 but 120/14 = 8.58 I feel it would more congruent to match like with like, if you'd use the 210 CCI then use the 210 MA, you can still grade your pairs by the 8 top trenders....
Hi Intrepidpips

Yet another great post!!!

This is what this thread is all about quality traders sharing and helping each other to become better traders. Trust me it just don't get any better than this.

I particularly liked this quote from Strata, probably one of the best one minute traders I know.

"One other thing I learnt from Strada (from Rooi's thread) is if you are going to trade the M1 just focus on M1 price action, no need bothering yourself with what is happening on the H$ or D1. I agree cos H4 may tell you a new trend has formed but only for the "big bois" to continue or turn the market. just trade what your M1 charts tell you."

There's a lot of talk about which time frame is the best to trade and we are all different and have to find our own path and what suits us best as individuals. But I agree with Starta above just trade the 1 min because its whats happening NOW!!! At market opens it clearly shows us where the money is going and which pair to trade.

It also builds and therefore leads all the other time frames, many traders mistakenly believe the longer timeframes lead the lower time frames but I'm afraid not. Think about it, the higher time frames can only give you the over all direction of the pair historically, so I try to hold in the direction of higher timeframes but thats it for me just the preferred direction. But of course the higher timeframe levels are great for trading the 1 minute time frame.

But which is the most powerful? Which time frame should we follow?

The 1 minute!!! Its the money boys!!! Without any doubt I've seen so many daily, weekly, monthly levels smashed straight through by the all powerful 1 minute trend. Trust me the powers in the 1 minute.

Thats set the cat amongst the pigeons I bet??? I do like to have my fun with the "The Long term boys".

Anyway now I've had my fun lets talk about the moving averages you refer to above, I don't use the 120lwma my friend, in fact I've just recently changed my template. I am now using a 100lwma(red) and a 100sma(blue) as they cross beautifully when the trend starts to move and I like to see them start to seperate as price comes flying out of the gate at market open times.

Look at chart attached of the EURAUD this New York open. Look how the 2 ma's separate beautifully, look for this pattern first thing in the mornings or any other market open, its very powerful. The red vertical line is the New York open by the way.

This is exactly what we are looking for any market open. This is Fred and Gladys buying spree!!

Great stuff intrepidpips lets keep it going together we'll get there.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud straight out the blocks at the new york open.png Size: 68 KB
Feel the Fear and do it anyway!!!
  • #139
  • May 30, 2014 12:25pm May 30, 2014 12:25pm
Quoting clivepackham
{quote} This is absolutely amazing!!! This is exactly what I am after, I have said for so long to anyone who wants to listen that price can only go up or down, its as simple as that!! Let me just say that again, "Price can only go up or down" It ain't rocket science guys??? Every 15min , daily , weekly or monthly run began with a 1 minute reversal!!! Simple as that!!! All we have to do is find that 1 min reversal enter with a 10 pip stop and hold for the next 2 years!!! The ultimate trading method!!! Now surely if we can identify...
Wow that is a statement. Market actually goes three ways and most of the time it is side ways waiting for a break. But what do i know. Good luck on your journey.
  • #140
  • May 30, 2014 12:51pm May 30, 2014 12:51pm
Quoting Donika
Clive, Sorry to bother you m8 but do you expect a retrace at Gbp/Jpy!!!
It has retraced
Heed the lessons of failure.
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