Trading is as simple as ABCD | Page 176 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Gartley/bat/crab/butterfly/abcd/three Drives Pattern Indicator Help 50 replies

Abcd fibo retracement trading journal 109 replies

ABCD - My way 122 replies

ABCD Fibo 82 replies

abcd patterns 1 reply

Attachments: Trading is as simple as ABCD
Exit Attachments

Trading is as simple as ABCD

  • #3,501
  • Jan 22, 2015 1:36am Jan 22, 2015 1:36am
Quoting navk
{quote} Hi, what is the hourly and 5 min setting for TT indy. Thanks.

Here you go, change timeframe1 to 60(hrly) then I set it up to look back 12 which obviously means last 12 hrs but might be better to look back 24 ie the last 24 hrs(day) just about how sensitive you want it really and if you're going to use the hrly then theres a couple of choices for entry, wait till the 5 min TTindy agrees with the hrly , in top 4 in both or when your top trending pairs in your hourly 5 min 100lwmas turns the same way look to enter on first couple of 5 min pullbacks...

Or could wait for an hrly CCI signal on a hrly top trender to signal then drop down to 1 min and when 100lwma turns in direction of hrly trend take the first 2 or 3 CCI signals get to BE and see where the 1 hr trend goes ..

Theres more than one way to skin a cat but all of the above are waiting for the lower timeframes to agree with the higher timeframes, then enter using the smaller stops of the lower timeframe but holding on the higher timeframe...basically trying to get our bigger RR's. Just be aware you're gonna get a lot of false starts when your hrly just won't follow through but you will increase the chance of that happening by trading the hrly top trenders...

Attached Image (click to enlarge)
Click to Enlarge Name: 1 hr and 5 min TTindy.PNG Size: 30 KB


Good luck post some charts as you go will be interesting to see how it works out....
Feel the Fear and do it anyway!!!
  • #3,502
  • Jan 22, 2015 1:48am Jan 22, 2015 1:48am
Quoting devontrader
My thoughts are clive that i feel ive added a few things for confluence and now feel my.charts are not.clean. so i want to step back with clean charts and have it setup.correct eg as per yours. yes i can add 1 or 2 things but i want to.make sure there clean. so wish to.make.sure i have it correct like yours
I think the problem is you're relying a tad too much on indicators and forgetting its the price action that really matters. Indicators are helpful for sure but they are exactly what they are called "indicators" which indicate.... Its price action that actually make it all work and if you're not careful with too many indicators you start to miss the price action or at worst cover it up..

But listen, the most important thing is you find a system that sits with you and your personality etc so by all means use mine as a basis to work on but by all means tweak it to suit you.

So heres my current template simple as simple can get....
Attached File(s)
File Type: tpl # 1 minute scalper NC.tpl   262 KB | 557 downloads
Feel the Fear and do it anyway!!!
  • #3,503
  • Jan 22, 2015 2:05am Jan 22, 2015 2:05am
Quoting clivepackham
{quote} I think the problem is you're relying a tad too much on indicators and forgetting its the price action that really matters. Indicators are helpful for sure but they are exactly what they are called "indicators" which indicate.... Its price action that actually make it all work and if you're not careful with too many indicators you start to miss the price action or at worst cover it up.. But listen, the most important thing is you find a system that sits with you and your personality etc so by all means use mine as a basis to work...
thanls.cliveim researching 2 things using your method1.get into.trade esrly as poss cos due to 100lwma being ladding and miss the first abc move2.once in a m1 trade ...being able to let it run longer term.benefit of hrly trend is your in trade in right direction
  • #3,504
  • Jan 22, 2015 2:53am Jan 22, 2015 2:53am
After all this higher timeframe talk , thought I'd try and catch one of the hrly top trenders this morning and low and behold EURCAD came to the top so here we go..perfect signal and at BE, lets see if this hrly trends going to continue???
Attached Image (click to enlarge)
Click to Enlarge Name: eurcadm1.png Size: 60 KB
Feel the Fear and do it anyway!!!
  • #3,505
  • Jan 22, 2015 3:38am Jan 22, 2015 3:38am
Quoting clivepackham
After all this higher timeframe talk , thought I'd try and catch one of the hrly top trenders this morning and low and behold EURCAD came to the top so here we go..perfect signal and at BE, lets see if this hrly trends going to continue??? {image}
Clive can you help me out and put up a screenshot of the same chart, but as 60min please ?
  • #3,506
  • Jan 22, 2015 4:09am Jan 22, 2015 4:09am
Morning folks, dont see any healthy trending, got into this buy although AU is on a retrace on every HTF...
Attached Image (click to enlarge)
Click to Enlarge Name: 22-1-15-AUDUSDM1.png Size: 71 KB
  • #3,507
  • Jan 22, 2015 5:41am Jan 22, 2015 5:41am
Find a strong trend, wait for the pullback and jump on board....simple as ABCD...

Words of wisdom indeed. Doesn't matter what indicator set you are using in a strong trending environment chances of positive trading are increased.

previously because of the spreads with my broker I was limited in pair choices.

Now having my broker in liquidation, I am sitting on my hands waiting a resolution.

Future plans,find a reliable broker with low spreads and Find a strong trend, wait for the pullback and jump on board....simple as ABCD...

Best regard Clive and All
  • #3,508
  • Edited 2:12pm Jan 22, 2015 8:27am | Edited 2:12pm
Quoting Go5
Morning folks, dont see any healthy trending, got into this buy although AU is on a retrace on every HTF...{image}
Hi Go, I certainly don't want to tinker with Clive's elegant system, but I am curious about your use of the Ichimoku. I used to be a big ichi guy on higher TF. I presume it is contributing to your trend decisions down on m1. I'm not quite sure from your chart, but I virtually sure you have a LW 100 on there in addition to ichimoku.

Your posted trade this morning did drop below the cloud but you stayed with it. Of course, some would exit a long trade under the cloud.

If you would be comfortable sharing a bit on how ichimoku plays into your decisions, that would be great. PM me if that seems appropriate or post here if that would be ok. I am certainly NOT interested in tampering with Clive's direction. This just might contribute.

Many thanks.

FS
  • #3,509
  • Jan 22, 2015 9:48am Jan 22, 2015 9:48am
Quoting clivepackham
{quote} Here you go, change timeframe1 to 60(hrly) then I set it up to look back 12 which obviously means last 12 hrs but might be better to look back 24 ie the last 24 hrs(day) just about how sensitive you want it really and if you're going to use the hrly then theres a couple of choices for entry, wait till the 5 min TTindy agrees with the hrly , in top 4 in both or when your top trending pairs in your hourly 5 min 100lwmas turns the same way look to enter on first couple of 5 min pullbacks... Or could wait for an hrly CCI signal on a hrly top...
Thanks Clive. Looking at 1 hr trend helps really.
Intraday only.
  • #3,510
  • Jan 22, 2015 9:52am Jan 22, 2015 9:52am
just looking at this pair on m5 chart and drew line for the pullback.
drawn the line and now have pending order lol 2 of them (accidently hit button twicelol)
everytime this price does up i shadowit with my pending order till it decidesto drop
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-01-22_1549_pending.png Size: 103 KB
  • #3,511
  • Jan 22, 2015 11:17am Jan 22, 2015 11:17am
This is a great thread and a great strategy - I'm very glad to read it

If I have understood correctly, TTindy is pretty much the slope of LWMA100. I'm using IG:s plattform ProRealTime, does anyone know how to program this indicator (Slope LWMA100) in ProRealTime?

Sorry for going a bit off topic, I would really appreciate if someone could help me with this
  • #3,512
  • Jan 22, 2015 2:25pm Jan 22, 2015 2:25pm
Well, as promised, I had my first go at this system today, using my demo account just in case.

I looked for a possible setup using my current favourite method and noticed this downward move on the GBPAUD

Attached Image (click to enlarge)
Click to Enlarge Name: Moonie_GA_H1.png Size: 170 KB


I wondered if there was any more room to go down, so I switched to Clive's 1 minute chart and noticed the price had been bouncing down the MA. I waited for the CCI to signal a pull back and I entered short with a 20 pip stop. As soon as I was 15 pips up, I moved my stop to BE and then just monitored the 1 minute chart. I exited when the MA had started to level off and the price moved above it.

Attached Image (click to enlarge)
Click to Enlarge Name: Moonie_GA_M1.png Size: 68 KB


Superbly simple approach. I'm a new fan of the 1 minute chart.

Thanks Clive!!!!
  • #3,513
  • Jan 22, 2015 2:29pm Jan 22, 2015 2:29pm
Quoting OAPDave
{quote} Clive can you help me out and put up a screenshot of the same chart, but as 60min please ?
Hi Dave

Here you go same chart as this mornings 1 min entry which I've marked with an arrow.. Didn't workout by the way the 1 hrr flew down the page so another break even trade but at least I didn't lose with that reversal...

So why did you want me to post that 60min chart Dave????

Attached Image (click to enlarge)
Click to Enlarge Name: EURCADH1.png Size: 83 KB


Now lets look at that counter trend 1 hr move on a 1 min timeframe...

Attached Image (click to enlarge)
Click to Enlarge Name: eurcadm1.png Size: 68 KB


Very tradable I think you're all agree... and that is why I'm not convinced of the higher timeframe argument, very strong uptrend on 1 hr yet a beautiful selling opportunity on the 1 min. Sorry but I'm convinced we're better off just watching the 1 min strongest trenders and selectively entering on the pullbacks then look up and try to make sense of the higher timeframe move.

Just my opinion of course for what its worth....Dave???? What you thinking????
Feel the Fear and do it anyway!!!
  • #3,514
  • Jan 22, 2015 3:45pm Jan 22, 2015 3:45pm
Quoting Forest-Sea
{quote} Hi Go, I certainly don't want to tinker with Clive's elegant system, but I am curious about your use of the Ichimoku. I used to be a big ichi guy on higher TF. I presume it is contributing to your trend decisions down on m1. I'm not quite sure from your chart, but I virtually sure you have a LW 100 on there in addition to ichimoku. Your posted trade this morning did drop below the cloud but you stayed with it. Of course, some would exit a long trade under the cloud. If you would be comfortable sharing a bit on how ichimoku plays into your...

Yes, you're right, standard chart with Ichimoku added, but I also put on the Kijun for 5, 15 and 60M - this comes into play when trailing like in the above trade which got into DD but just bounced off the 5M kijun, that's why I didn't close the trade; I basically try to trail on higher (Ichimoku-guided) TF or at least take them into consideration.
I also look at the distance of PA to the various Kijuns - trying to avoid bad entries (anticipate sudden reversals) because of those extended moves on a HTF.
This is the same trade on 5M:
Attached Image (click to enlarge)
Click to Enlarge Name: 5min-AUDUSDM5.png Size: 77 KB
  • #3,515
  • Edited 4:21pm Jan 22, 2015 3:56pm | Edited 4:21pm
Quoting clivepackham
{quote} Hi Dave Here you go same chart as this mornings 1 min entry which I've marked with an arrow.. Didn't workout by the way the 1 hrr flew down the page so another break even trade but at least I didn't lose with that reversal... So why did you want me to post that 60min chart Dave???? {image} Now lets look at that counter trend 1 hr move on a 1 min timeframe... {image} Very tradable I think you're all agree... and that is why I'm not convinced of the higher timeframe argument, very strong uptrend on 1 hr yet a beautiful selling opportunity...
Evening Boss
Ok I am going to try but to be honest you are a master of the explanation stuff so you are 1-0 up before we start, so if you are sitting comfortable we will begin
All this is after the ECB event. We with stay with the 60min, 12.00 (uk time) 20/1 your 100 went Blue and gave me a acceptance bar but at this point no real slope figure (not to sure what your figure would have to be to be valid) So in my mind I am now only looking for your 1 min method to get me into buys ( my 1 min chart will not go back in detail to let me give you any times) but after trading side ways through the Asian session your 1 min method really kicked into gear, LO 8am 21st 60min a near 50pip up bar, now this beast can have a 200+ range and I am at the party early, I will not talk you through the 1 min, your truly the master of that but just to say, for what ever reason we get a 300pip up bar at 15.00 now to be honest the washing machine is going full tilt with my under pants in, the range is now 400 pips ish I am well gone by now, do I want to trade it today NO - WAY do I expect a pull back YES but it did not happen until the ECB event so who knows what would have really happened with out that
All I have ever said is that I use your 100 on all timeframes to give me direction and then enter off, your 1 min method so hopefully this means that if I am right I will keep get little runs of profit ( or if I am lucky a big clean run) but if I am wrong in direction your method wont let me into loosing trades, all the time I am keeping my eye out for abnormal range bars for the relevant time frame that get reversed and watch the Daily range build up after all the trend and range can only build up with higher highs and lower lows, I am just not interest in selling highs or buying lows until I think the Daily range might be in, why would I want to play in the middle of a battle until I can see who is winning
In my view its wrong to keep calling them higher time frames its just a BALANCE POINT of a certain average and a certain time ie would your 1 min not work if it was a 99 or 101 lwma at a balance point the market will do something, bounce, fall trade sideways but as you have created a point that's becomes your focal point of interest. In the early days you played with a 200 I think Ted even gave you another one, but then you throw it away and setting on your magic 100
I wont even go their about counter trend trading after what you have said in the past about it.
I will give it a rest now, and if you want a bit more of my views I will carry on
Summary
Direction off decent timeframe 60 30 15
Entry off 5 or 1 min
Taking into account the build up of the Daily Range or any abnormal range candles

Going to just get my tin helmet on and a wait for the bombs to come my way !!!!!!!
  • #3,516
  • Jan 22, 2015 4:51pm Jan 22, 2015 4:51pm
Quoting OAPDave
{quote} Evening Boss Ok I am going t...........Going to just get my tin helmet on and a wait for the bombs to come my way !!!!!!!
Is that the tin helmet from your old Homegaurd days Captain Mannering????

Sorry mate couldn't resist that one...

If I'm reading your post correctly you're saying to trade the 1 mins in the direction of say a 15,30, 1hr trend, dare I say strong trender, because we can expect to catch the 15,30, 1hr momentum move which should give us bigger winners. Just paying attention to the daily range of that pair, so if near its daily ATR forget about it..

Have I got that right???

If so then yep couldn't agree more , look for a strong trending 5,15,1hr etc and enter when the 1 min 100lwma turns that way, also try to take the first 2 or 3 one min CCI signals get to BE and hold until the 1 min 100lwma changes colour...if we've got the right higher timeframe trend we should be laughing shouldn't we.

And the reason you wanted me to post the hrly chart of my morning trade is to demonstrate how far it had already gone on the hrly so unreasonable to expect it to go higher. So I shouldn't of taken that trade considering the ATR..Yep can see that too..

OK Dave lets assume I've understood you correctly and yes I like the idea of trading the higher timeframe direction off of a strong trender. Then I guess the question is when do we start to look for our 1 min entry??? how about the timeframe aboves CCI pullback in its trend??? Although my preference would be whenever the 100lwma on the 1 minute turns back in the direction of the higher timeframe.

So how we gonna identify these trade setups Dave???

How about have 6 GBP pairs GBPJPY GBPUSD GBPCHF GBPAUD GBPCAD GBPNZD plus EURAUD open on 7 charts with the 100lwma alerting us whenever theres a slope change, then we check that chart and see if that 100lwma slope change is significant eg back in the direction of the higher timeframe then take first 2 or 3 CCI signals get to BE and hold until the 100lwma changes slope again??

That ought to do it Dave... We're be covering all 8 currencies so if one goes strong or weak we're catch it and the GBP pairs are very volatile giving us bigger runs..

Heres an example today nice run down on EURAUD just after NYO again...look for 100lwma colour changes back in direction of higher timeframes, 690 odd pips job done..

Attached Image (click to enlarge)
Click to Enlarge Name: euraudm1.png Size: 82 KB


Oh and heres one I took earlier...386.6 pips up and still going down..

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh1.png Size: 82 KB


Real money too...see I'm not just a one trick pony....
Feel the Fear and do it anyway!!!
  • #3,517
  • Jan 22, 2015 5:11pm Jan 22, 2015 5:11pm
Quoting clivepackham
{quote} Is that the tin helmet from your old Homegaurd days Captain Mannering???? Sorry mate couldn't resist that one... If I'm reading your post correctly you're saying to trade the 1 mins in the direction of say a 15,30, 1hr trend, dare I say strong trender, because we can expect to catch the 15,30, 1hr momentum move which should give us bigger winners. Just paying attention to the daily range of that pair, so if near its daily ATR forget about it.. Have I got that right??? If so then yep couldn't agree more , look for a strong trending...
Boss We are now in the same reading room, reading the same book and even both on the same page, I don't ever look at the cci, I totally agree on acceptance of the colour change of the 1min 100 back in the main direction, and as you mention RANGE RANGE and nothing but RANGE
  • #3,518
  • Jan 22, 2015 5:24pm Jan 22, 2015 5:24pm
Quoting OAPDave
{quote} Boss We are now in the same reading room, reading the same book and even both on the same page, I don't ever look at the cci, I totally agree on acceptance of the colour change of the 1min 100 back in the main direction, and as you mention RANGE RANGE and nothing but RANGE
Just checking my understanding of your use of the word "range" you're refferring to the daily range of the pair I guess and never trade beyond it??? As you can expect a reversal at anytime??

Am I Correct???
Feel the Fear and do it anyway!!!
  • #3,519
  • Jan 22, 2015 5:27pm Jan 22, 2015 5:27pm
Hey!!! Just had a thought with reference to your daily range theory, how about trading the 1 min slope change around the daily top of the daily ranges???

Thats gotta be worth a pop surely???
Feel the Fear and do it anyway!!!
  • #3,520
  • Jan 22, 2015 5:30pm Jan 22, 2015 5:30pm
Quoting clivepackham
{quote} Just checking my understanding of your use of the word "range" you're refferring to the daily range of the pair I guess and never trade beyond it??? As you can expect a reversal at anytime?? Am I Correct???
YES but I do accept that some days due to (something) we will get abnormal big ranges, but just remember if we had 2/3 unusual small range days it makes the odds of a average or big range day better.
7 traders viewing now