Trading is as simple as ABCD

Great trading Jason and a nice steady account growth too, so You're trailing with 3.5 pips?? Have you found that the best setting?? Does it trail straight from the start?? So initial stop 3.5 pips??

Glad you're enjoying it got any thoughts on best time to trade?? I've been messing around with Frankies hour this week and its a bit of a hit or miss time. I'm thinking have another hour in bed and start at about 7.30 BST half an hour before LO and watch for the strongest just after the open...

had a great spell just after open... about 40 pips in 15 mins so like you say thats enough....about 4% of account..

Let me know your thoughts???

Got 118 pips long on GBP/CHF. At last some money to take home!!
Revenge is a sweet thing.

AWESOME!!!! Nice one aptly named "Pipglutton" 118 pips!!!!

Nice one...

What goes up has gotta come down sometime....will leave this on would be nice to get a 0.618 retracement of up move..



And trying Jasons trailing stop idea but at 5 pips..

Initial SL is an emergency 14pips, but rarely ever needed.Trailing stop goes to work at 3.5 and TP is 8pips. I'm getting from 4.5 to 8pips consistently from the push back into trend. I'm ok with 30 or so pips every day.
Like you say, LO and USopen seem to be great times, but any time we see momentum is good. I think my eyes are getting familiar with knowing what a decent push of momentum looks like on a 1min chart. But, you KNOW it is gonna move during the first hour of these opening times. Any entry with trend should gain some pips, right?
Below or above 120HMA, momentum swing on 14 CCI, pending stop order creeping ever closer to the retreating price before it launches forward again . . . definitely working. Like your analogy of CCI overbought/oversold being like an arrow being pulled back, It usually is.
I'm only a beginner, but practicing dozens of entries on 1min charts has really helped. Thanks Clive.

Hi Jason

Thats very interesting that you are only a beginner but experiencing some great results with this simple strategy... Probably helps that you are a beginner so you haven't filled your head up with a load of nonsense and over complicated analysis routines..

I'm convinced the vast majority of losing traders are just over complicating a very simple choice, up or down?? How complicated can we make that simple choice?? I've been on many training courses some good some not so good but they all say the same thing trade with the trend, so surely it makes sense to trade with the strongest trends??

They also pull up some fantastic looking trending charts and show us how easy it is to trade them. Oh the power of such hindsight charts, isn't it funny how we all seem to get it right 100% of the time when we look back at the end of the day, it all seems so much easier doesn't it???

One great thing about 1 min charts is they are just like the training charts I was shown but for daily charts, haven't seen such beautiful charts since apart from these 1 minute charts..They trend beautifully don't they, so a perfect training ground to learn trading if nothing else.

Anyway keep it going my friend you are doing well, just remember to tip toe round the news releases and in fact trade just after the strongest/weakest with the news currency involved. Had some great post news trades...

Any questions just fire away and I'll help if I can...

Quick update my EURJPY trailing stop trade got me 5 pips and I'm gonna trail down my GBPCHF trade above each LH until stopped out, locked in 6.5 pips so far. If this works might do something similar once a day when I think a pair has reversed after a strong run one way...

Would be particularly effective if back with a HT strong trender...

[quote=bapakjason;8221711]{quote} Initial SL is an emergency 14pips, but rarely ever needed.Trailing stop goes to work at 3.5 and TP is 8pips. I'm getting from 4.5 to 8pips consistently from the push back into trend. I'm ok with 30 or so pips every day.
Hi Jason.
Is your TS of 3.5 adjusted manually as the price fluctuates, or is it a setting?
My broker only allows trailing stops of 15 pips and more. (OANDA)

Rgds
Pieter

[quote=Pipglutton;8221867]
If you're talking about the trailing stop through MT4 I think you're find its 1.5 pips minimium, it is on mine. Try it on demo see what it does when you select 50 , I think you're find thats 5.0 pips....

I've got a question for each and everyone of us and that includes me.....

GBPCHF went up the page 364 pips today and how many did you get?????

I got an amazing 6.5 pips and incredibly that was a sell trade?????? What the hell is that about???



So what happened how can a pair go up 364 pips and I didn't catch 1 pip of it??? How much of the 364 pips did you get???

Of course the problem is this is a one off trade today that doesn't occur very often. In fact whilst this one was going straight up the other 27 pairs were just meandering up and down like they normally do.... So this is the exception that proves the rule....

What rule??? I hear you shout. The rule that says price will go wherever it likes but very rarely in one direction for very long...

You see the fact is holding trades trying to catch a run like this is extremely unlikely to succeed, 27 times out of 28 its gonna turn back on itself more often than not. The far higher probability is that it will NOT run. Therefore we need a trading plan that deals with the higher probability shorter move rather than some pie in the sky , once in a blue moon, 300 plus pip runner...

Instead of chasing these once in a blue moon runs we have to concentrate on what happens most of the time, the high probability situations that occur time after time on at least an hourly basis on the vast majority of pairs all day long. In fact we need a trading plan that not only works on the majority of shorter runs that occur all day long but what if it would also suck as many pips as possible out of these massive runs???

Now wouldn't that be a trading plan and a half???

Hmmmm, let me think...

What would that possibly look like??

How about our simple little old ABCD???? With a simple HMA to define our trend, when its green then buy wave bottoms as long as they're level or higher than the last one and when its red sell wave tops as long as they're level or lower than the previous one..and we ALWAYS exit at D...

Now think about that, if its one of our rangy old pairs, you know the ones that happen 90% of the time, whenever they reverse we're be all over it like a rash because our HMA's turned over giving us the new trend so just ABCD your way until it changes colour.. But if it just so happens to be the days runner we will get ABCD move after ABCD move in the same direction so we get those 364 pips bite by bite....

So the secret is when the HMA's green buy wave bottoms, when its red sell wave tops..Don't complicate it, don't think this is going to reverse soon. Just keep trading with the slope of the HMA until it turns over, then start trading the other way....

Use our TTindy in automatic mode to have the 4 best pairs in front of you all day long....

Lets have a look at GBPCHF again to see if our simple plan gets us any pips..split into LO and NYO runs



And NYO's run....



Looks like 8 winners to me and about 70 pips, not bad out of a 70 pip run, so added to the LO run of 200 pips we get 270 pips without holding, just take each ABCD move on its own merit not as some big plan... Get the pips bite by bite and if theres only one bite to the run we've got it..If however it continues to run then we're get bite after bite after bite..

Before I go shall we find a nice rangy chart see how our plan works then?? remember it should be a top trender for us to see it so would probably trending quite strongly for us to even see it..so if HMA not sloping steeply we wouldn't be trading it...

GBPUSD is a rangy old pair lets see what its like..



Well I think its fair to say it looks ok maybe some losers in there if you were late to enter and didn't get to BE sharply but the overall picture is pretty good, I think you're agree a positive pips outcome..

Anyway there you have it so no more holding complete waste of time and in most cases a lot of BE's for a lot of hard work.. so just not worth it for a once in a blue moon runner that you haven't got a clue is about to happen as you trade...

Good Night and God Bless you All...

Just a quick post to say I've edited previous post quite a bit so might be worth a reread....

This system is fairly dependent on spread and commission costs so I've recently trying FXDMM who I find very good on spread for all pairs apart from CHF pairs where they charge a fixed 9.0 pips, so I don't trade CHF pairs.

The spreads are also fixed , not sure about news releases but all other times fixed as follows:

AUDCAD=1.1
AUDCHF=9.0
AUDJPY=1.1
AUDUSD=0.7
AUDNZD=4.2
CHFJPY=9.0
EURAUD=1.5
EURCAD=1.0
EURCHF=9.0
EURGBP=1.1
EURJPY=1.1
EURUSD=0.7
EURNZD=5.3
GBPAUD=1.8
GBPCHF=9.0
GBPCAD=1.5
GBPJPY=1.5
GBPNZD=2.4
GBPUSD=1.1
NZDCAD=2.2
NZDCHF=9.0
NZDJPY=1.5
NZDUSD=1.2
USDCAD=1.2
USDCHF=9.0
USDJPY=0.5

Theres no commission charges either , just the spread and their fixed..

Hello Clive,

Been going thru all the posts over the last few months from the sidelines and its been an amazing collection of ideas and trading styles.
I however recently downloaded the most recent addition of indicators but for some reason when I change the settings on the TT to what you have on file it gives me a blue format on the currency pairs. I know you had this sorted out, but for some reason it does not seem to work for me. Appreciate your help.

Cheers

I had same problem I deleted old FSMA, if you have that loaded, and you have to create a folder in your indicator folder called TTindy and then drop the 3 indicators into it as per mine here..



I created new folder in the Data Folder I think then dropped indys into it...

Cured it for me so good luck...

Thanks for your quick response Clive will give it a go.

Cheers

[quote=Pipglutton;8221867] First of all, great job getting those pips yesterday.
There are a few tools/concepts that I've picked up from Udine's thread.
1) Take some profit, hopefully enough to live off of, as fast as possible. It doesn't take too many pips to pay bills.
2) I like an EA that takes some of the decision making away from me. The EA will begin automatically trailing at 3.5pips (it looks like 35 in EA settings). I turn off BE setting and what happens is that the initial push will bring the trailing EA slightly into profit. The goal for me is for the EA to trail until an 8pip TP, if I get 4pips I live with it cause it's not a loss!
3) I use a script written by MR.T that automatically adjusts % risked based on SL. So, I set SL at 14 pips for 2% and then set TP at 8pips. Hot Keys are assigned so that I just use 'alt B' or 'alt S' and the script automatically places my pending stop order at the NEXT 05 level. I then use Clive's entry criteria and drag it to 2 pips behind the last closed candle.

I find Clive's overall strategy suits me best. 1min charts, seeing strong trend, using CCI for momentum swings. Like Clive, my patience is tried sitting in front of a 30min chart when I could see it on 1min. If it's a strong trend, we can get in, get some pips, and be done for the day. Like Clive's 40 pips in 15 min or so yesterday.

Sorry for long answer, but the EA and scripts help me a lot. I don't have a problem using the trailing EA at 3.5 pips with FXCM or VantageFX, have demo accounts with both, just had to make sure I enabled automated trading with button on MT4 tool bar.

Hi Clive, nice collection of indicators and great system. The CCI Histogram is awesome. I have been looking for "Clive's Trade Manager" EA but haven't been able to find it anywhere? Could you share it please

Hi Clive , This really seems a sensible way of trading, congratulations on a very good thread.
Love your enthusiasm mate, keep it up . Ive been trying a few similar things to this recently, so this will be really nice to try out. Good luck.
Subscribed Regards Orid Peter

Just had a silly loser on GBPJPY , one of my mad moments when I hit a trade because price is racing one way quickly, basically a bottom of wave sell again...

Second entry I'm happy with top trender GBPJPY and nice CCI signal so I'm ok if this loses, but the first one was my old friend "The Fear of Missing Out" ...

Must learn to wait for that pullback and sometimes it will go without me, just the way it is, we can't catch every move can we??

Also of course its Frankies Hour approaching so I'm starting to realise this is not the time of day for my system, better to trade just after LO and NYO, but just checking it out for sure this week...

Might be 2 losers to start the day of.....

Nope I didn't like it and it hadn't gone straight away like I like them to so closed it out for another pip gone, this Frankie hour is a bit dodgy I think but will see how it goes this week before making my mind up about it for sure...