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Cutting the cord with M1 scalps

  • #261
  • Oct 16, 2014 11:03am Oct 16, 2014 11:03am
Good stuff Clive and Mongo.

Here is my lunch trade today. EURUSD for 6.5 pips. Very happy with that. Following my rules and making a bit at lunch! Now, back to the grind....
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm1.png Size: 44 KB
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #262
  • Oct 17, 2014 4:56am Oct 17, 2014 4:56am
Quoting capstone
Good stuff Clive and Mongo. Here is my lunch trade today. EURUSD for 6.5 pips. Very happy with that. Following my rules and making a bit at lunch! Now, back to the grind.... {image}

Nice continuation trade sir

A very nice entry but what is your exit strategy??? I see this ran down another 5 or 6 pips, you could of doubled your profits. I'm a great believer even though I'm now happy to take our little orphans, I don't plan to... What I mean is I'm trying to get as much as I can from an entry and try to gauge when its going to end. Difficult I know but there's not a single green candle until you get down to 1.2803 level??

Now remember you're trading with the trend and hopefully a strong trend so you can expect a little bit more than before with counter trend trades. I love our little orphans but not too small heh??Got to be bigger enough to hug.

Secret is of course to trade the strongest trending pairs with sensible spreads so have you tried my TTindy set to 35 on both 1 min and 5 min?? Try to catch a CCI signal at key levels back with the strongest trending 5 min pair. However if just home for lunch then maybe you should just look at the 1 min TT??

Either way what you're notice is larger winners...

When you're up have a look at my thread I did just that today and grew my account by 103%, not suggesting you risk the same as me but had 7 winners 1 loser and 6 BE's must of made about 100 pips in total as trading at 1% per pip at the mo...

Good luck if you ever fancy a chat on skype and exchange some ideas just let me know
Feel the Fear and do it anyway!!!
  • #263
  • Oct 17, 2014 5:29am Oct 17, 2014 5:29am
Quoting clivepackham
{quote} Nice continuation trade sir A very nice entry but what is your exit strategy???
My exit strategy on that trade was dictated by the clock. I was already over my lunch "hour", not that I care much about that, but I do need to keep the job more then I need an extra 60 cents!

Yes, I do follow your thread and have seen yesterday and today. Very nice! Time to go live! Use the smallest amount they will allow and do it. It changes things a bit, mentally.

I hear you about staying in for more, and I will as I gain confidence. I also understand about your TT indy. I have included a screenshot of my chart for your TT and 919's CSM. I also use the one on all of my charts in the upper right corner. Most of time your top 4 are pairs I do not trade due to spread. I am also trying to figure how better use the measurement on your TT. There has to be measurement that proves better and not so good. As I type, GBPJPY is at a 75. It is top of the list, but only 75. Look at what your pairs from today where measuring. With a top of 75, they might all be starting to range. Being on top of a crap list only makes the pair the least crappy, but crappy still. Also, If you are going to catch that first pullback after a reversal, that pair will not be at the top 4 on your indy.

Anyway, I am pursuing hanging on longer. You are correct in saying orphans gotta be big enough to hug. We will get this done! I do not have a camera or mic on my computer for Skype. I could use my phone I suppose, but talking is difficult because my wife is sleeping on the other side of the wall at 3 AM. I do appreciate the exchange with you and Mongo! That is why I added the verse to my signature.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFM5.png Size: 28 KB
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #264
  • Oct 17, 2014 9:50am Oct 17, 2014 9:50am
Quoting capstone
Good stuff Clive and Mongo. Here is my lunch trade today. EURUSD for 6.5 pips. Very happy with that. Following my rules and making a bit at lunch! Now, back to the grind.... {image}
Well when it comes to my TTindy I use all my indicators the same way, they're just indicators , just indicating theres a chart I might or might not like to trade. So I have a look at it and decide if I like what I see, if I don't I leave it. But you're quite right about it only showing the best of a bad lot sometimes. what that tells me though if the top 3 trenders are no good it sure aint worth wasting your time on the others, thats for sure.

I'm still learning myself how best to use the TTindy , but like I say its just an indy make sure to confirm with price action. One of the biggest problems is it takes you to a strong trender thats just about exhausted, that can be a problem but as long as still pushing clearly higher or lower, should be ok to trade.

Like that verse by the way I pointed it out to Claire and said we were helping each other...
Feel the Fear and do it anyway!!!
  • #265
  • Oct 17, 2014 11:17am Oct 17, 2014 11:17am
Quoting capstone
Good stuff Clive and Mongo. Here is my lunch trade today. EURUSD for 6.5 pips. Very happy with that. Following my rules and making a bit at lunch! Now, back to the grind.... {image}
I guess there is more than one way to pick a good trade! Kind a looks like the previous trade examles to me. One indi to confirm other, + the right candle formation.

For testing, would you mind to share with me a copy of this TrendCCI indi please...I cant find it, but would like to work with it a bit. Many thx!
Attached Image (click to enlarge)
Click to Enlarge Name: cs.png Size: 51 KB
there is always, always another trade!!
  • #266
  • Oct 17, 2014 3:03pm Oct 17, 2014 3:03pm
Quoting profitfarmer
{quote} I guess there is more than one way to pick a good trade! Kind a looks like the previous trade examles to me. One indi to confirm other, + the right candle formation. For testing, would you mind to share with me a copy of this TrendCCI indi please...I cant find it, but would like to work with it a bit. Many thx! {image}
Here you go. As you can see, they are from Clive. I attached an .ex4 and the mq4. It is designed for a histogram and normal CCI. I do not use both of the CCIs obviously. I only use the histogram.
Attached File(s)
File Type: ex4 Clive's Histogram CCI.ex4   17 KB | 260 downloads
File Type: mq4 Clive's Histogram CCI.mq4   7 KB | 256 downloads
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #267
  • Oct 17, 2014 8:36pm Oct 17, 2014 8:36pm
Thank you. Will set up for a live test next week.
And also a thank you for Clive then
there is always, always another trade!!
  • #268
  • Oct 18, 2014 3:32am Oct 18, 2014 3:32am
Quoting profitfarmer
Thank you. Will set up for a live test next week. And also a thank you for Clive then
need a bit more help here to make a similar set up you have running...what is Oanda timezone;
and also, if you have any different then default setting...I can see that CCI period is 10, and Stoch is 11/5/5, anything else I miss maybe.
there is always, always another trade!!
  • #269
  • Oct 18, 2014 4:31am Oct 18, 2014 4:31am
Quoting profitfarmer
{quote} need a bit more help here to make a similar set up you have running...what is Oanda timezone; and also, if you have any different then default setting...I can see that CCI period is 10, and Stoch is 11/5/5, anything else I miss maybe.
Oanda is GMT +5, EST time (which is the same as NY). Yes Stoch at 11,5,5 (had it at 18,5,5 too), CCI at 10 (Clive uses 8) with lines at 100 and -100. Show me your chart so I can see.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #270
  • Oct 18, 2014 5:29am Oct 18, 2014 5:29am
Quoting capstone
Good stuff Clive and Mongo. Here is my lunch trade today. EURUSD for 6.5 pips. Very happy with that. Following my rules and making a bit at lunch! Now, back to the grind.... {image}
I think now it looks similar...
Attached Image (click to enlarge)
Click to Enlarge Name: cs chart cc.png Size: 23 KB
there is always, always another trade!!
  • #271
  • Oct 18, 2014 8:06am Oct 18, 2014 8:06am
Quoting profitfarmer
{quote} I think now it looks similar... {image}
It does, minus any MA you choose to use and the quarter lines, if you choose to use those.

It is important to note that in this trade, the stoch does not confirm and cross down until well after you would have sold. You may want to speed up the stoch. Just a thought. Maybe use 8,5,5 or something. Or just use your RSi like you have been using as you are already familiar with it.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #272
  • Oct 18, 2014 8:31am Oct 18, 2014 8:31am
Quoting capstone
{quote} It does, minus any MA you choose to use and the quarter lines, if you choose to use those. It is important to note that in this trade, the stoch does not confirm and cross down until well after you would have sold. You may want to speed up the stoch. Just a thought. Maybe use 8,5,5 or something. Or just use your RSi like you have been using as you are already familiar with it.
Thanks.
Next week it will get some test on the 3 pairs with low spread I have, EU, GU, UJ.
I will look mainly for trades that both indi confirm the entry, also being M1, expect certain range to make things worthwile...yet to see SL size, and method for Tp...if SL is above entry candle, sometimes it is too tight or too much...fix 5 pips might be a general start...same goes Tp...
Then go from there.
there is always, always another trade!!
  • #273
  • Oct 18, 2014 12:33pm Oct 18, 2014 12:33pm
Quoting profitfarmer
{quote} Thanks. Next week it will get some test on the 3 pairs with low spread I have, EU, GU, UJ. I will look mainly for trades that both indi confirm the entry, also being M1, expect certain range to make things worthwile...yet to see SL size, and method for Tp...if SL is above entry candle, sometimes it is too tight or too much...fix 5 pips might be a general start...same goes Tp... Then go from there.
Hi profitfarmer

Hope you don't mind me adding my fivepenny worth but if you're going to restrict yourself to just a few pairs because of the spread then just be careful about when to trade them, they've got to be trending strongly on the 5 min before you even consider them on 1 min and then I would trade them when the 1 min 35lwma agrees with the 5 min 35 lwma(175 on a 1 min chart) something like the chart below.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 87 KB


I've found it best to enter as near as possible to the 35lwma as works as nice support/resistance level certainly be very careful about taking any entries if the price is stretched out far way from the 35lwma...

Entry is simple CCI pullback over +/-100 levels then first red candle back in direction of trend pending order underneath it and away you go...I go to BE very quickly say 2 to 3 pips max like to be at BE within 2 candles of entry... don't worry about BE trades as next setup is just a few minutes away...


hope that helps...
Feel the Fear and do it anyway!!!
  • #274
  • Oct 18, 2014 3:41pm Oct 18, 2014 3:41pm
I reintroduced the ribbon. Nothing about the chart has changed. The MAs are the same, they just present differently. The point is to keep me focused on continuation vs CT. It also helps me to see all of my pairs and quickly assess where they are in their cycles. I will go into next week with this chart. Ironically, I am almost full circle to my first charts that I started the journal with.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpym1.png Size: 73 KB
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #275
  • Oct 20, 2014 5:52am Oct 20, 2014 5:52am
Talk about late to the party! I entered about 6 pips to late. I probably should have stayed out. Unfortunately, I have to go to work, so I closed for 0.6 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM1.png Size: 61 KB
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #276
  • Oct 20, 2014 8:22am Oct 20, 2014 8:22am
Quoting capstone
Talk about late to the party! I entered about 6 pips to late. I probably should have stayed out. Unfortunately, I have to go to work, so I closed for 0.6 pips. {image}
Hi Capstone

Nice trade went down another 30 pips after you went to work. Even though you were a touch late it was still a nice continuation trade.

Heres how I try to avoid being late. I use the fact that 7 times out of 10 CCI leads the price when it comes to turning over, particularly in a strong trending move like this one. Many times I read how indicators are lagging so of little use, well sorry to say not our little CCI it leads the way more often than not. Won't bore you with why??? Just to prove it there's 3 examples on your chart clearly showing how often it happens, 2 down which are perfect entries and one up just to show it works upwards as well as downwards.

I think the technical term for it is divergence, but who cares what its called, just make sure to make good use of it.

Here's how I take advantage of it, soon as you see the CCI start to turn over then drag a pending order, in this case a buy stop, under the signal candle by 2 pips. Keep dragging the buy stop up underneath each candle as they close. As you can see in this example works perfectly and in the first one in particular you would of been at BE within the first candle.

Attached Image (click to enlarge)
Click to Enlarge Name: Never be late to the party again CCI leads the way.png Size: 84 KB


No excuse now to ever be late to the party again

EDIT: Just as a side note notice how many times a pending order under almost any red candle,that follows a green one, would have worked in this strong trender?? I've marked some very small pullbacks that hardly register on the CCI and certainly not a qualifying signal +100 but just goes to show trading strong trending pairs is the answer....
Feel the Fear and do it anyway!!!
  • #277
  • Oct 20, 2014 11:26am Oct 20, 2014 11:26am
started some tests as promised, but wont like to mess this thread with the results, if interested it is on mine.
anyway, needs few days at least to get a better feel for this way of trading.
there is always, always another trade!!
  • #278
  • Oct 22, 2014 5:37am Oct 22, 2014 5:37am
I have not been up with the farmers this week. It is fall break for my kids and that means later nights. I know, just get up. Don't be a slacker. Well, I have been and I am alright with that. Today we are going to an Exotic Feline Rescue Center. It should be pretty cool. Family day!

Good trading everyone!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #279
  • Oct 22, 2014 6:39am Oct 22, 2014 6:39am
I am not sure how long this functionality has been available on MT4, I just found it the other day. Very cool tool to be able to place pending orders. Depth of Market or DOM. Love it.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDproM1.png Size: 83 KB
  • #280
  • Oct 22, 2014 7:25am Oct 22, 2014 7:25am
Quoting capstone
I have not been up with the farmers this week. It is fall break for my kids and that means later nights. I know, just get up. Don't be a slacker. Well, I have been and I am alright with that. Today we are going to an Exotic Feline Rescue Center. It should be pretty cool. Family day! Good trading everyone!
You got it right, family before trading! Anytime! And I love trading...just love my wife and kid even more!!
there is always, always another trade!!
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