Trading is as simple as ABCD

Get infos here: http://newdigital-world.com/trading-...trader-ea.html
And last version here: http://newdigital-world.com/trading-...html#post12980
The EA is based on this indy: http://newdigital-world.com/trading-...envelopes.html

Hi Godsclown

Yep this is a problem when trying to automate a system like this, also it shows that hard rules will miss some good trades , its just the way it is , but of course hard rules will keep you out of bad trades too... I guess we have to accept no matter how good a system is, its not going to catch every move, simple as that..

As for a way to trail, well I quite like trailing by a number of candles. The EA I posted earlier actually has a bar trail facility on it to trail by so many candles rather than pips. If we trail by 2 for instance it will suffer a small pullback but if price reverses you're out.

The problem is of course there is no "it works everytime" setting no matter what we do, I guess its about finding something that works the majority of the time, then using a hard money management rules to make it profitable.

I've been working away in the back ground on something very very simple with some hard "zero tolerance" money management rules where we control our losses very tightly say 5 pips and thats it then let our runners go as far as they can say a 2 bar trail. Only need 10 pips to have a constant 1:2 ratio and many times trading with the strong movers you're get 35 plus pips so a 1:7 ratio winner.

Now once we get that going we're laughing, so its about identifying these very low risk entries (5 pips stops) with the potential to run...Have a look at when we have say a 30 plus reading and the price is clearly above the 100lwma then buy HL cci signals only or price is below sell LH CCI signals only. I think you're find we would have at least 50% hit rate and with the RR ratios above we have a very profitable system.

I'm also keen to look at using the 120FSMA turns as the start and to only take first two signals get to BE quickly and see what we get...

The 1 minute charts present literally 100's of such opportunities every day when strong trends setup...But we have to take every signal not just a handful, remember poor old Henrys unlucky trade below when he took the only loser out of 6 signals???? If he had taken all 6 he would have had a handsome profit..



The difficult part is that, there would be plenty of actual losers and they might come in a run say of 5 or 6 together but at the end of the day we should win. I'm quite interested in automating this for that reason whereby we have hard rules and our EA just waits for those setups and hits them all day long...

I think it would be almost impossible to trade such a system manually as we poor humans just can't cope with the number of losses... our psychy just won't allow it. As Humans we have evolved to where we are today by avoiding painful experiences and not repeating them. Our brains are hard wired like that so it makes it practically impossible to trade through such losses.

However remove the human element and use an EA and you've cracked it..

We've got to keep it simple price can only go up or down and there are literally 100's if not 1,000's of setups everyday. The secret of successful trading is bigger winners than your losers so add a simple money management system. I am convinced that all we need to do is trade every CCI pullback in a strong trender and we will have exactly that, small losers and big winners... with a round about 50% hit rate.

Thats it guys thats all we need...

I'm working away on this system but need a really good programmer to work with me as I have no idea about coding....

Here we go EUR weak and USD strong , is this the day the daily trend resumes???

Have they banked enough profit now for their new Porcshe????

Just in case I put two orders on..

Just to illustrate what I was saying in previous post theres 4 signals here, 3 large winners and one small loser...bear in mind we might only take the first 2 entries as a rule and you have a very profitable system...The 2nd trade is a big winner running over 60 pips so we don't need too many of those do we??

Obviously a lot of work to be done on conditions to trade and exits but the bones of a good automated system are there for sure...

Just look at selling tops of waves buying bottoms in a strong trend quite simple...

Gonna be lots of losers but also lots of bigger winners...

Heres a typical automated signal , strong trender , nice tight stop 7 pips and CCI signals, now as a human trader I don't think this is a good signal as it looks like the 1 min trend is up but I took it anyway as if it was automated it would....

lets see what happens, but really it doesn't matter, it fits the rules and thats all that counts to an EA...

Went 3 pips up so moved to BE... as per rules...

Knocked out of sell trade at BE but now using my other system this was a buy signal as last buy CCI signal was higher than the previous one so the first HL so bought it and straight to BE...

As a price action trader I didn't like the last automated sell as I could see this reversal shaping up but a systems a system, just have to decide on the one we're going to use....

You see I quite like trading the market structure so maybe we could look at an automated system that just references from one CCI signal to the next??? EG buy HL's sell LH's...

Just a thought...

Out at BE yet again so thats 6 entries this morning without a single loser so quite happy with entering off of these CCI signals however I haven't banked a bean, so the exits gotta be worked on.....



But I am happy with the entries so now its all down to exits.....the same old dilemma as usual , we've just got to settle on one simple method and stick to it come what may, just accept the results.....

Just been playing around a bit this morning testing my entry skills out and I've had 10 trades in a row without a single loser...ok one little loser where I miss placed my BE stop by 0.001 of a pip....



Now if I'd just averaged 5 pips out of each I'd have 50 pips lets say at £5 per pip thats £250 for the morning, makes you think doesn't it????

Why am I flaving around trying to catch 20 , 30 or 50 pip runs??? Gotta get my head in the right place, I'm sure I can make very good money just doing that all day or rather for a couple of hours per session...

And do you know what?? I don't find that hard to do.....

Just took 30 pips out of GBPUSD doing just that, took 2 entries and closed them out for 15 a piece. so now I have avery profitable morning.

Hmmm I think my problems been trying to prove something to everyone else rather than just getting on with the job of making money...Real traders don't spend their time posting on FF they're too busy making a living for themselves.

I'm sorry to say but I think I might have to join them, I might have to let my thread slip a bit. I'm gonna open a small cash account and see if I can't just make myself some money everyday...Just gonna concentrate on making money, not being right, not worried about losers, not trading technically correctly just make money...

Pure and simple....make money...

Just took another 2 winners on GBPJPY and GBPUSD so thats 10 BE's and 4 winners since I've decided to bank my profits....not one bloody loser all morning!!!

Bottom line it can only go up or down, identify when its strongly going one way wait for a pullback to support and hit it..get to BE and bank soon as it falters..

Simple ABCD......

Heres my results from this morning, not real money unfortunately but its gonna be from now on........




It feels like I've found my path at last....It just felt very natural this morning like I'd been doing it for years, which of course I have.

I feel very confident that I can do this on a regular basis and make a living doing it.

OK next week I'm gonna trade every session and see how I get on...

Sorry to say I might not post here too often but will report back regularly so you're know how I'm doing...

Dear GodsClown
Sorry for the confusion
I am talking about this piece of art (attached)
All the best
Dan

clive,

keep us posted on results and the things you are learning. i've learned a lot by seeing what you and others have been learning along the way.

jason

Exactly. So many traders come here with the best on intentions. To try and help others learn from their journey, learn from their mistakes and let's face it to grow and improve themselves through some imput and help from like minded traders.

That all said however running a forum and trying to post live as she goes trading is harmful. When you are trading, when you are risking your money trying to make more money you need to focus and be un to yourself. You owe no one anything. You don't owe anyone live trade calls, you don't owe anyone play by plays and you certainly don't owe anyone your bank statements or even a trade explorer.

I see people all the time that start threads and then start getting the pressure to prove the system works. You know what! We are all adults and we are all our own keepers so prove to yourself whether what is being offered works for you or not. As far as I am concerned unless you are a commercial member charging people for what your sharing then no proof or justification is needed.

If I have trades open or if I am in trade mode, the forums are closed. In fact all that is open besides my charts are a few news feeds and my email for any alerts I may have set up. I used to be guilty of the same thing you are Clive... I would feel like I had to prove to others that I could trade by posting live set-ups and trades etc... The trade off is a complete lack of focus and dedication to ones business.

Do you think the big boys are posting on FF when placing their multi lot orders? I think not!

We would all understand if you step away from the thread and only stop by at the end of the trading day to share any new insights etc... That is how it should be.

Clive,
I just wanted to express my thanks for all of your contributions here. Also, thanks to all of the other posters here who have contributed and kept you engaged. I have been trying to keep up with the thread since you started, but too many other things are keeping me from getting back into trading. I hope to have time to get back into it and do a thorough review of your posts soon. Again, thanks, and good luck.
Tod

Good luck Clive!

I look forward to hearing of your success in the near future . You have certainly put in the effort.

Quick up for 3.5 pips, first trade of a day. Have to get out all morning an miss two good trades on EURUSD.

This is sooo interesting...
So you get a dayly bear signal...like on the eurusd.
You can go to the 1 minute every day, and take all the 1 minute signals....or as many as you can catch...provided the dayly coulors remain bearish,
Trail maybe 2 bars on the dayly...
If heiken changes colors, close all..
Basically a milipede approach...

If you look back, some pairs trend for more than 10 days, without changing coulours...you could potentially accumulate tons of pips,stress free.
I trade OANDA so I can adjust my risk size as small (or big) as I want.

The opposite of scaling out.... scaling in.
There´s a math wizard in some forum, forgot his name, who did some massive backtesting....apparently it´s a proven fact, that adding to winners improves your bottom line ...results.where like in 970 out of 1000 runs.
That´s why some traders in the milipede system make big money long term-

Just my two cents worth, a complementary strategy to the 1 minute system.
All the best.

Thanks for all the usefull indies and ideas....this works.

But how do we trail after entering based on CCi?
Red arrow is CCi crossing 100, but there is no line above which could be used as trailingstop.


@dansmol: I will post my TTindy-version tomorrow.


Also please take a look at the following indicator, it will put a trendline at the highes high/lowest low of the last x candels. I'm still trying to find a good trailingstop.

Could you share a brief explanation of Manuel Trader?

thanks!

jason

Please correct me if I´m wrong:
Forex is supposed to be the best trending market available right?
We make money on a trend, no matter what time frame, right?
How can I get the most of every trend?

Small time frames have advantages: lot´s of opportunities.
BUT: Big Boys whippsaw everyone hunting stops...the algos are programmed that way....remember markets are manipulated...5 banks controll 60 % of total volume (you can google the exact number).The bigger the time frame, the more expensive it´s for them to move manipulating pips to run stops.

That is why I filter my 1 minutes trades with a stop hunting rule, I enter just after the stop was ran, then basically with the rules in this forum..