Trading is as simple as ABCD

Hey Clive,

You are doing a great job keep to your original plan. You don't have to enter early or late - just take the trade when you have the perfect setup like you have always said. There is a warning quote under LITEchild's signature that says, "The market & traders greatest strengths is also their greatest weaknesses," and I have found that to be true.

All the best my friend

Shalom

Done for now and going for a snooze. Will be back during the US session to see if I can take some more orphan trades and withdraw the profit for Christmas .

Shalom

Just a quick post about all these news events today...

As a one minute trader the news releases are crucial to tip toe around as they cause all sorts of spikey price action that will knock us out as regular as clock work and in the very bad circumstances slip past your stops and leave your account devastated... Just not worth the risk...

Heres todays news releases and as all can see its a very unusual as theres almost a red news release every half hour.. No point in tip toeing around all those events so stand a side and wait for it all to end about 10,30 then see where the money starts to flow and jump on board...



The other thing to remember of course is the big boys don't get involved in news releases either they tend to sit aside wait for the reports to come out then decide what to do and they don't always trade in the direction of the spike either... Quite often if its a counter daily trend spike they will use it to get back in to the daily trend at a discount price. hence you will very often see a bad news event go the "wrong way" mystifying the average retail trader.

But we don't care why its moving the way its moving we just wait for the 1 min trend to setup after the news release see where the moneys going and jump on board. This is my post news trading strategy which I will be trying to use today after 10,30 when all the news has finished for the day... Heres an example of a post news trade after the GBP release today.. Tried to get in earlier on minor pullback but got stopped out at BB.. These post news trades can start a trend sometimes that goes on for hours or even days sometimes...



This is all demo of course just using all these news announcements to hone my post news entry technique, let me show you what I'm working on...I'm calling it my "To catch a falling Knife" entry system...

Look at the chart below, what I'm looking for first of all is just after the news to see which pair is top of my 1 minute TTindy. I want to see a clear leader and then when I pull the chart up this is what I'll see. Now this is what most traders would call " trying to catch a falling knife" and stay well away from it. Now bearing in mind I'm always saying look for a strong trending market then trade the pullbacks. Well they don't come much stronger than trends like these do they???



So lets see if we can't develop an entry system to safely catch that "falling Knife".... be pretty useful wouldn't it if we could trade strong trenders like this without fear???

Now what I'm looking for once I pull this chart up is a pullback to get in on, but the problem is as you can see theres no apparent pullbacks to get in on is there?? Certainly not many overbought CCI signals to trade. But look a bit closer and what you'll see is my good old CCI as ever giving you a heads up that price is about to surge back down with the trend. I call these momentum swings where the speed of the fall deaccelerates then picks up speed again and we can use these momentum swings to our advantage as I did on the chart above.

Ok I've marked every time the CCI momentum swings above the -100 level with a yellow vertical line, then I wait for the next more negative CCI candle, momentum is swinging back down again, to find my signal candle. Then I drag a sell stop 2 pips below that signal candle and see what happens. I'v marked the candle that you would then drag your sell stop under with a yellow arrow...

As you can see it presents several fairly safe entries and as usual I would have a 20 pip emergency stop and move to BE with a candle or two of entry... It can swing back pretty quickly so get your risk off the table quickly and if it does take you out at BE be ready for the next swing down with momentum, it won't be far behind....

Take profit soon as you get a green candle close or trail stop down above it...

If you look at this example you will see 5 entries that worked fine, imagine entering on all 5 and getting to BE within a couple of mins then trailing their stops down above every momentum swing... Sort of trending trading in express mode...

Now of course we are always looking for strong trending 1 minute pairs from the top of our TTindy so I'm thinking maybe this is the way forward full stop with my TTindy set to 35lwma??? Use these momentum swings on the CCI to enter rather than wait for a overbought/sold signal.

Well I'll do some testing on demo and let you know how I get on...

Remember its all about trading strong trends and they don't get much stronger than this do they????

Quick update to the post news trading and the "Catching a falling Knife " entry system, look how this would have ended...



Like I keep saying till I'm blue in the face its all about trading strong trenders and they don't get much stronger than this so look how many signals work???

I've not even marked the extra ones as at the end of the day there comes a time to say enoughs enough and 6 succesful entries I think most traders would call it a day after 2 or 3 don't you???

Very interesting gonna forward test this technique on some very strong trending 1 minute moves see how it goes.....

Nice trading George...

Great stuff yep those little orphans certainly rack up don't they....love em..

Keep it going my friend, will be interesting to see how the new year works out for us both...

Thanks Clive I did not make it back for US session and just saw how GJ moved. Will try again tomorrow. Trust you did went today.

Yes 2015 will be very interesting and I am planning on going fulltime if this works out as it has not been easy combining trading with regular fulltime work but we do need the paycheck to keep the home front going until trading income becomes consistent and exponential.

Shalom

whats safe about that sir

I see only red.

Hi Clive,

What are the new settings for the ttindy especially for the "lookback" number?

Whish you many green pips!

Hi Clive,
I've been lurking on your thread for some time and really like your method you share. But as far as calling the one minute scalper "Falling Knife" a new name is going to be needed as your method works great in a long break out as well.
GJ from 9 am this morning .....

A quick one for 13 pips

Possible pullback with JPY strength & CCI confirmation will have me do another quick one

Hi Godfire

heres my settings for my TTindy..



Well i'm using 35 lwma for both 1 min and 5 min because I like the way the 35lwma shows the trend so nicely and in particular shows up trend reversals very well. have a look at this GBPJPY chart from earlier today...



Notice how well the 35lwma shows the trend very clearly and the good old CCI supplies the entries.. The 35lwma also shows the 5 min pullbacks very clearly eg that little downtrend is a 5 min pullback so now I have no reason to look up any higher than the 1 minute chart... I'm very interested in all these reversals from down trend to uptrend so every slope change on the lwma will alert me and I will endeavour to get an entry as soon as I can with the new trend direction..

The earlier I get into these moves the better....

I'm just concentrating on maybe the top 8 pairs that move the most GBPJPY,GBPAUD,GBPCAD,GBPNZD, EURAUD,EURNZD,EURJPY,USDJPY they will alert me of every slope change plus I will look out for them in my TTindy....

If its top of the TTindy then I will be looking for the CCI momentum swing entries I mentioned earlier in my "Catching a falling Knife" post...strong trenders don't always give you overbought/sold entries..



Last chart USDJPY just after NYO and away it goes again... I'm starting to think we're better waiting for the money to come to the table so looking just after the opens to see whoose trending strongest then have a look... This USDJPY setup nicely with all the other JPY pairs as there was JPY weakness right across the board plus its after the actual NYO...



So theres no shortage of these trends to trade thats for sure just a simple matter of taking the setups as they come...

Lastly I'm looking to get into these reversals very early hopefully just after the slope changes and hold at least the first couple of entries and close out when lwma changes colour again.. Trying to get bigger RR's ...

Thats it from now on in just concentrating on these one minute setups practically no reference to any other time frame other than what the 5 min TTindy tells me..

Hi 21vs7

Exactly my point, no green candles to give us our pullback as the trend was so strong but the CCI 's momentum swings still gives us some perfect entries even with out green pullback candles..

Just another amazing characteristic of our CCI , what a great little Indy that is...

Hi MTpockets, like it, "Empty pockets" clever...

Whats the opposite to catching a falling knife????

How about "catching a shooting star"????

Nice one George, and great to have you here posting your trades...long may it continue...

Many thanks for your support...

Wow... just wow such a great response! What do you consider as a good number on the ttindy?

WOW Clive !!

Got me stumped on the name... Your method has done me right on Pre-Market Open Buzz and news.
I added the Donchian Channel to eliminate the Fakies .. other than that .. it's the best Method I've used.

well guys

ive totally gone price action just as uncle clive told me to ,,,well twisted my arm lol
ive deleted all indicators bar 1and clives method ones

here is a current trade im in on gbpjpy,,,could have banked a winner for 60+ pips but am trailing and a sure winner

im sure a little tweak needed and i am working on tweaking a money management spreadsheet to use too

what im doing is trailing my stops on the prior swings ,, so in this case the prior swing low

You're welcome my friend, you know I'm not sure since I've changed it to the 35lwma as the slopes get pretty steep now but as I type I see the GBPJPY pair is top on 175 and USDCAD 8th on 29 which looks ok, so maybe 30 or over???

Not sure to be honest but put it this way if you look at the top pair and its chart doesn't look any good. EG you don't know which way its going then don't bother...Remember that figure relates to the steepness of the lwma you monitoring...

Anyway lets keep this going and if you can take snap shots of your trades then post em later when the days done..

Thanks glad to hear it and iut gives us plenty of trades too...

I see you say pre-market open?? Thats interesting as I'm thinking its best left till after the market opens then have a look at the top trenders. Basically waiting till the money starts to hit the table giving us a clear indication as to where its going..

What do you think about the timing????

Thank you too Clive as you've selflessly shared a great system here and will be around to learn, support and contribute.

The GJ pullback I was watching was not smooth and since I am in the office could not keep an eye on it and therefore missed the move down after it finally resumed the downtrend but did manage get a 7 pipper off the falling knife. I trade full lot and therefore don't wait to find out whether it would continue or reverse, I just take what Mr. Market gives me.