Just realised most of Europe has a bank holiday today so adds to the Frankie lack of direction... No real money you see, so no direction...
And out with +20.
Trading is as simple as ABCD
- #5,723
- May 1, 2015 9:03am May 1, 2015 9:03am
Typical Frankie open all over the place so not interested in this sort of situation.. To trade anything in Frankies hour I want to see an HRLY top trender going back with its HRLY trend. Anything else is just a waste of time. Very much concentrating on the period just after the LO to see who comes to the top then, especially if its back with the HRLY trend.... Another thing I'm running with today is putting the HRLY CCI on my 1 min chart so I can see whats happening on the HRLY. I'm looking for the pullback against the HRLY trend, same old argument...
- #5,726
- May 1, 2015 3:27pm May 1, 2015 3:27pm
- Joined Nov 2010 | Status: Trader | 4,484 Posts
{quote} Hi Clive, you say something like this, and trade just in the direction of the Hrly CCI?. {image} {image}
That wasn't what I meant, I was saying if we have a strong trending HRLY pair then when the HRLY CCI (480) goes oversold, then its a very good time to look for the next turn up on the 1 minute 120HMA.
Have a look at this EURCAD strong HRLY trender, look how the oversold CCI signals result in massive moves up, notice also how these large hrly green candles occur just after the market opens, both LO and NYO, shows us exactly where the best time to trade our system is. Just after market opens...
But if thats true then yes you are right , shouldn't we also trade the momentum push of a strong hrly trender??? makes perfect sense doesn't it??? All the time its green and above the zero line keep trading the 120HMA urns up..
Start trading on the hrly pullback, the 480 CCI going over sold and take every 1 minute 120HMA turn up whilst the 480 CCI is green which of course means its on a momentum push up...
So looking at the same EURCAD move but on a 1 minute chart and we can clearly see when our 1 hr CCI goes over sold we get a really nice move back with the HRLY trend..
Anyway there you go, remember we are only doing on the HLY what we normally do on the 1 minute entries, buying the hrly CCI buy signals, basically buying wave bottoms in a strong uptrend, but we're just entering on the 1 minute chart..with far less risk...
But you know I'm wondering if I'm not over complicating it again, just look at this 1 min chart zoomed right out. Where should we be buying???
When price is clearly going up and above its 120HMA...and when should we be selling???
when price is clearly below our 120HMA....
Also just after the markets open up....
Feel the Fear and do it anyway!!!
- #5,729
- May 1, 2015 9:37pm May 1, 2015 9:37pm
- | Joined Apr 2014 | Status: Trader | 1,900 Posts
Hello Clive----have you tried this trade manager---trails stop by candle option Havent tried myself yet {file}
- #5,732
- May 2, 2015 4:32am May 2, 2015 4:32am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #5,733
- Edited 7:11am May 2, 2015 5:35am | Edited 7:11am
- Joined Nov 2010 | Status: Trader | 4,484 Posts
[quote=turnip15;8240760]
Hi Turnip15
Good question and I think I have the answer for you..
Its difficult to back test the TTindy as we never know what was top of the HRLY TTindy looking back, but we could of course just look at the HRLY 120HMA and whenever its sloping at 45 degree angle back test the 1 min 120HMA turns in that direction just after LO and NYO...
OR......
We could look at the top trending HRLY pairs right now and see if they are moving just after the LO and NYO,s couldn't we???
Sso lets have a look at the top 6 HRLY top trenders according to our TTindy and see if they are taking off for nice runs around the LO and NYO , which I have marked on the following HRLY charts with vertical lines, yellow for Frankie, Green for London and red for New York...
Top HRLY trender EURAUD first..
Number 2 in the TTindy EURNZD..
How about CHFJPY.
Or 3rd in line GBPCHF
How about EURJPY??
And finally number 6 EURCAD...
So yes Turnip15 I think we can say "lets keep this simple" and just look for HRLY strong trenders to turn back with their 1 minute 120HMA's around LO and NYO. And why not hold if its just after an Hrly 120HMA turn and hold until HRLY 120 HMA turns back again??? Just look at some of these earlier LO's and NYO's trades we could still be holding them all as theres no sign of the HRLY 120 HMA turning back yet is there, so no reason to close...
I rest my case your honour....
POST 5726 above But you know I'm wondering if I'm not over complicating it again, just look at this 1 min chart zoomed right out. Where should we be buying??? When price is clearly going up and above its 120HMA...and when should we be selling??? when price is clearly below our 120HMA.... Also just after the markets open up.... Would be interesting if it could be back tested to see if "simplicity" does indeed rule?
Good question and I think I have the answer for you..
Its difficult to back test the TTindy as we never know what was top of the HRLY TTindy looking back, but we could of course just look at the HRLY 120HMA and whenever its sloping at 45 degree angle back test the 1 min 120HMA turns in that direction just after LO and NYO...
OR......
We could look at the top trending HRLY pairs right now and see if they are moving just after the LO and NYO,s couldn't we???
Sso lets have a look at the top 6 HRLY top trenders according to our TTindy and see if they are taking off for nice runs around the LO and NYO , which I have marked on the following HRLY charts with vertical lines, yellow for Frankie, Green for London and red for New York...
Top HRLY trender EURAUD first..
Number 2 in the TTindy EURNZD..
How about CHFJPY.
Or 3rd in line GBPCHF
How about EURJPY??
And finally number 6 EURCAD...
So yes Turnip15 I think we can say "lets keep this simple" and just look for HRLY strong trenders to turn back with their 1 minute 120HMA's around LO and NYO. And why not hold if its just after an Hrly 120HMA turn and hold until HRLY 120 HMA turns back again??? Just look at some of these earlier LO's and NYO's trades we could still be holding them all as theres no sign of the HRLY 120 HMA turning back yet is there, so no reason to close...
I rest my case your honour....
Feel the Fear and do it anyway!!!
- #5,734
- May 2, 2015 6:15am May 2, 2015 6:15am
- Joined Nov 2010 | Status: Trader | 4,484 Posts
Lets have a quick look at the 1 minujte chart for Top HRLY trender EURAUD at the London Open and the New York open on the 30th April..
And NYO....
I think its fair to say they presented some nice trades....
OK so heres what I'm thinking, as from now on look at the top HRLY trenders and around the LO and NYO look for the 1 minute 120HMA to turn back with the HRLY trend as the money comes to the table...
Either trade them on the 1 min 120HMA turning back down again OR bank half when the 1 minute 120HMA turns down and leave half to run....
Nope I know whats even better than that,.......
Think about the waves on the HRLY?? What can we expect it to do after a 100 pip plus run up the page??? Yep pullback or retrace about 70% of that previous run as the buyers bank their profits, so whats the point of leaving all our trades on at BE just to get knocked off by the inevitable hrly pullback??
We should only hold the first two trades we get on after the 120HMA turns up, holding them on the HRLY 120HMA but any trades after the first two should be traded as Orphans and bank your pips as you go...
Lets think about what I've just said...
We're going to look for the strongest trending HRLY pairs to turn back with the trend at LO and NYO, trade each 120HMA move as it is, but hold first two entries and bank the rest as we go. So gradually building bigger positions on our HRLY trends. Using our low risk 1 minute entry system...
Now we're getting very close to a very good trading strategy, very close indeed..with a low risk entry so small losers, but a very high potential winners, leading to some awesome RR's...
Now remember FXCM's conclusions of what constitutes a successful trader?? Winning trades are bigger than their losers and thats exactly what we potentially have here...BIG winners small losers...
All sounds great in theory but can we trade it in practice, thats the million dollar question?????
And NYO....
I think its fair to say they presented some nice trades....
OK so heres what I'm thinking, as from now on look at the top HRLY trenders and around the LO and NYO look for the 1 minute 120HMA to turn back with the HRLY trend as the money comes to the table...
Either trade them on the 1 min 120HMA turning back down again OR bank half when the 1 minute 120HMA turns down and leave half to run....
Nope I know whats even better than that,.......
Think about the waves on the HRLY?? What can we expect it to do after a 100 pip plus run up the page??? Yep pullback or retrace about 70% of that previous run as the buyers bank their profits, so whats the point of leaving all our trades on at BE just to get knocked off by the inevitable hrly pullback??
We should only hold the first two trades we get on after the 120HMA turns up, holding them on the HRLY 120HMA but any trades after the first two should be traded as Orphans and bank your pips as you go...
Lets think about what I've just said...
We're going to look for the strongest trending HRLY pairs to turn back with the trend at LO and NYO, trade each 120HMA move as it is, but hold first two entries and bank the rest as we go. So gradually building bigger positions on our HRLY trends. Using our low risk 1 minute entry system...
Now we're getting very close to a very good trading strategy, very close indeed..with a low risk entry so small losers, but a very high potential winners, leading to some awesome RR's...
Now remember FXCM's conclusions of what constitutes a successful trader?? Winning trades are bigger than their losers and thats exactly what we potentially have here...BIG winners small losers...
All sounds great in theory but can we trade it in practice, thats the million dollar question?????
Feel the Fear and do it anyway!!!
- #5,735
- May 2, 2015 6:45am May 2, 2015 6:45am
- Joined Nov 2010 | Status: Trader | 4,484 Posts
Hello Clive----have you tried this trade manager---trails stop by candle option Havent tried myself yet {file}
Hi IAMFX, wow!! Another awesome name, I really must look into changing my boring name , I fancy "NOFEARFX"...
Thanks for the trade manager looks perfect will run with it next week see how I get on but I wish I could get my original one working as it use to trail me into the trades and then manage them too. I wonder if this one could be modified at the front end to trail our pending orders into the trades??
Feel the Fear and do it anyway!!!
Trailing my stop by 5 pips see what happens, but I much prefer a candle trail, but just can't get my trailing exit EA working... {image}
You are on a DMM Demo.
EAs are not working at all at a DMM Demo.
Only Live Accounts with min.10000$.
- #5,738
- May 2, 2015 12:51pm May 2, 2015 12:51pm
- Joined Nov 2010 | Status: Trader | 4,484 Posts
Clive - now that the hourly seems to be coming more into your thinking, have you considered putting a 60 minute 120 HMA on the chart?
However I am experimenting with putting the HRLY 8 CCI on my 1 min chart 8 x 60 = 480 and looking for a strong uptrender to go oversold as that would be a good time to join the HRLY trend and will probably result in a nice RR trade..
Looking at this HRLY top trender EURCAD you can see how whenever the 8 CCI goes red some nice trades evolve, so its a good time to look for a turn up on our 1 min 120HMA...
Feel the Fear and do it anyway!!!
- #5,739
- May 2, 2015 12:56pm May 2, 2015 12:56pm
- Joined Nov 2010 | Status: Trader | 4,484 Posts
{quote} Hello Clive! You are on a DMM Demo. EAs are not working at all at a DMM Demo. Only Live Accounts with min.10000$.
Ahhh that explains it , I wandered why it worked on my FXCM account but not on DMMFX many thanks Gandi0815...
Never mind I can manually cope whilst on DMMFX demo and use my Trade management EA when I eventually go live again..
Feel the Fear and do it anyway!!!
