Trading is as simple as ABCD

Yea I know what you mean its very tempting at times to try and sell a top in a strong trender up or buy a bottom in a strong trender down but its been my experience that they rarely workout and the trend just bulldozes straight through them more often than not...

However it is another way to trade top trenders as very often they will reverse on you especially in rangy old days, so its good to have a reversal signal that you're ready to trade when you see the trends faltering, heres my reversal signal...

I gotta say I'm a trend trader through and through until I see the reversal setup of LLLH in an uptrend or a HHHL in a downtrend, you have to see the two together before trading reversals..Then what you're doing is still trading with the trend but the very first pullback in the new trend... Take the CCI signal but get to BE quickly just in case...

Use the CCI signals and reference the last with the current one to see how it relates so constantly checking market structure as you trade.

Its very much in vogue with the "take the first 2 CCI signals " after the 120hma changes colour.. Heres what I'm talking about on GBPAUD..

Lets assume you're trading this GBPAUD move up so its a strong uptrender with the CCI giving you the waves and by referencing one CCI against the last you can see a nice HLHH upward moving structure, then you get your first CCI wave down taking the last HL out producing your 1st LL, now if the next CCI turn down is lower than the one before you have a tradable sell signal...

That price has also dropped below the 120HMA is also a good sign and its turning red or at least flattening out. But to be honest its the market structure not the moving average that gives you the signal... Its also really important to see that market structure complete, eg wait for the LL before selling a LH.



I'm always referencing the current CCI to its last one whenever I'm trading they define the waves very well and are a good way of confirming the market structure is still in sequence and therefore the trend is still going strong, any break in that sequence HHHL in an uptrend or LHLL in a downtrend, is the first sign your trend could be in trouble..

Just me playing around, but since clive looks at higher timframes now, I let you in.
Take a look at the bottom indy! CCI 14 M1, CCI 14 H1 and CCI 14 D1.

Tanks for the detailed explanation

Hi Clive,

Did some trading with your great ideas....


4 trades all +


Can't thank you enough and since I trade the M1 I understand the market much better

interesting...can you post indicator and settings

Hi GodsClown

Nice work as usual but to be honest I have to say, yes I've been looking at higher timeframes but its drawn me to the conclusion they're not for me. I'm not convinced they will help me personally so I'm gonna concentrate on developing a 1 minute stand alone strategy built around the 1 min price action which higher time frame traders can use with their higher timeframe analysis but not me personally???

I'm finished with the higher timeframe stuff, just find it all too confusing and distracts me from some very good 1 min setups.

But thats just me guys. Please feel free to carry on with higher timeframes, its each to their own, but for me its time to call a halt to higher timeframe analysis..

I'll do a post on what I'm concentrating on from now on this is very close to my final strategy but now I've got to stick with it and give it a fair run to see how it goes...

Thanks Godfire, glad to hear it and yes trading the 1 minute charts certainly is a short cut to learning trading for sure.

Its trading at the sharp end...

If you like what you've seen so far look out for my next post its about as close as I feel I've been to my final strategy....

Will look forward to it...

BTW added de Daily Range with my modifications. You can see it on the pic above which I posted.

It just gives you the percentage of the spread from the ADR(10); the effective spread. I didn't know that GBPNZD is more expensive to trade then USDNOK . Also it gives you the Daily Open Gap and the percentage from the ADR(10). It can be usefull when you trade indices.

I hope you understand what I written

I understand what you're trying to say and i'm agree
IMO
'If one trade M1, he is fully counting on the strength of the momentum. Taking a trade according to the Higher TF might add his odd but that doesn't automatically guarantee he's gonna came out in profit'


Remember you asked me this Well, i didn't took it on M1
I trade Higher TF, H1 to be exact
I didn't trade exactly like we all learn from Clive here in his thread but i have a component of his system
Sold EU at 1.0577 and price sky rocketting to 1.07-ish (it is today)
Hit my SL, erased nearly all my gains from last week

I took a close look to what happen...
If you guys put Clive CCI (14) or MA_Slope Alert to your chart, you'see the trend at Monthly,Weekly, Daily is still Bearish
But this thing does happened, Draghi yappin'..EU rose , moving against the original trend
What i wanna say is Higher TF trend can't guarantee your trade

I still digest this thread, infact through this thread i start to understand the logic of trading M1 chart

Here we go...

Took 14 out of that little Frankie spurt... Don't trust Frankie I'm afraid but gets me off to a winner which is always nice

Clive! I'm afraid my broker doesn't offer me the best spreads for these pairs. Even the whole drop there and I would have still not covered the spread.
Who is your broker If I may ask? And has he been fair to you? I'm from India, and I am open to changing my broker to match my scalping needs!
Any info on this would be much appreciated

Top trender now so took another so Just took another 18 out in about 3 mins, thats the way to make money, up 3.3% on account now too....

Attachment

Hello Clive. Nice entries!!! I just rode on euro.
GREAT SYSTEM/Thank you!!! I.m in profit every day...

clive,

when you do post concerning the most updated version of your strategy, could you also re-post your current indi's/settings/template so that we are all up to speed? if you don't have time, maybe just reference back to the post where they are available . . . sometimes a lot of new ideas are tried and then it seems like we drop some and move forward with what was already there . . . hope this makes sense. ex: ADR indi, current pips gained indi?, indi showing spread, etc. if your current set up has already been posted, forgive me for asking again! it's been quite a journey since last year.

Great setup here ,GBP strength plus post news trade so pending order at the ready this could be a in and at BE in same candle type entry..

There you go what did I tell yer....

Faltered at last high so I banked it for 8.6 pips, so thats 3 winners now and 40 pips banked, up 4% on the morning....

Now thats what I call trading.....

Will talk about my whole trading strategy later on but basically its going to be a stand alone 1 minute trading system as I honestly believe we don't need higher timeframes to make money. We can make it here everyday just trading a couple of hours a day just after London open and the New York Open...

Its all about making money and nothing else and we can do it everyday....

Just look at this chart when price crosses over the 120HMA when GBP is strongest and JPY weakest...

This is simple, buy when price is going up, sell when price is going down ....



Will post later when not at work my latest system and let me tell you this is getting seriously close to the final strategy...