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  • #6,021
  • May 13, 2015 11:12am May 13, 2015 11:12am
Quoting clivepackham
{quote} Thanks for the warning and I hear what you're saying, i would definitely prefer a broker with a no negative balance guarantee , do you know one with good spreads???? I've seen one advertised here I think its FXPRO or something they also have fixed spreads quite tight but not as tight but then maybe its worth a bit more on spread to be safer in the long term... I will look into that , thanks...
That is the tricky part as retail traders. At the end of the day even the brokers who say they offer negative balance protection still have the same high risk FX warnings on their sites which state various wordings from;

You could lose some or all...

Losses could exceed your deposits...

etc...

I have been eyeing a broker called FX Primus for a while now to try them out however I have held back because of where they are located (I prefer UK, NZ, Australia etc...) FX Primus is regulated by CySEC in Cyprus if that makes anyone feel better. What drew me to look at them is they do have some great spreads and this note in their risk warning... Bolded items from their site. I underlined the item that really caught my eye. Yes I understand I could risk $100 on a trade but the Swiss Bank does their hanky panky and boom my SL and margin calls are missed and my whole $1000 account is gone. But at least I shouldn't end up oweing them another $1000 or worse.

Forex Trading involves significant risk to your invested capital
• Trading in financial instruments may result in losses as well as profits. Trading in leveraged instruments can result in losses greater than the initial invested capital.
• Investing in leveraged products carries a high degree of risk. FxPrimus Europe Ltd offers protective measures to manage risk effectively, but it is possible to lose more money than invested in each trade. However you can never lose more than your total balance.
• Trading may cause the loss of the capital invested.

Many brokers will state they protect you from going negative with their automated margin stop out (tough to find brokers that will guarantee SL unless they are MM). That however as we know after Black Thursday doesn't work when the market is moving that far and that fast and when there is no liquity to fill any orders. If they can't fill your margin call order because there is no opposing order sitting there... guess what that means.

Any I am off topic for the thread so I appologize please just make sure you do your due dilligence and suffer through reading all the risk warnings and their T&C's etc... (even the legal mumbo jumbo).
Today's zone = Tomorrow's opportunity!
  • #6,022
  • May 13, 2015 11:19am May 13, 2015 11:19am
Quoting shane1
Hi, Please help, why does the top8 display in blue with zero numbers? {image}

OK I'm not sure if I can help as not my field of expertise but I had the same problem and this is what I did to put it right under GodsClowns instructions...

You have to use the 3 indicators attached below and you have to create a folder in your indicators folder called "TTindy" then put these 3 indicators in that folder.

Shut down and reopen your platform then see how it works..

Heres how you set the indicator folders up..

Attached Image


Let me know if that helps or not, but thats all I can offer I'm afraid, GodsClown is the expert..
Attached File(s)
File Type: ex4 #top 28 trenders all brokers_vA.1.3.ex4   53 KB | 421 downloads
File Type: ex4 AllAverages_v3.3.ex4   87 KB | 368 downloads
File Type: ex4 HMA_v2.ex4   15 KB | 460 downloads
Feel the Fear and do it anyway!!!
  • #6,023
  • May 13, 2015 12:01pm May 13, 2015 12:01pm
Quoting pres78
{quote} Price is below the MA...

Yep and hence it didn't go anywhere did it, went up about 5 pips so either a loser or if you were quick a BE at best... Just goes to show how effective that 120HMA is doesn't it??

Should make that a golden rule of this system....

Only trade CCI pullbacks that are on or above the 120HMA and the same for sells only take the CCI signals that are on or under the 120HMA..

Reckon thats about the only rule we really need here as if that is true you're looking at a strong trending pair just by that rule alone...
Feel the Fear and do it anyway!!!
  • #6,024
  • May 13, 2015 4:27pm May 13, 2015 4:27pm
Now you all know that I'm constantly looking for the runners in the London and New York opens , but yet again today pairs like EURAUD , EURNZD and GBPNZD were dropping hundreds of pips and somehow race past us without us even giving them a glance...

Well I think I've eventually worked out a way to catch the little rascals that are running...

Funny thing is , its been staring me in the face for the last year without me realising it...

Just like I use the 120HMA to find strong trending 1 minute trends and it works fine then surely it would also work just as well on the 5 minute timeframe wouldn't it??

Surely the 5 minute 120HMA would be pouring down the page with the LO runner wouldn't it??

Have a look at this EURNZD chart that was top of my 5 min TTindy this morning , its the 1 min chart zoomed right out with the 5 min 120HMA on it..

Attached Image (click to enlarge)
Click to Enlarge Name: 5 min 120HMA is the secret to catching the LO runner.png Size: 96 KB


Look how steep the 5 min 120HMA was both going down and going up this afternoon, see how price stays firmly one side of it?? Gotta give us a clue as to which 1 min 120HMA turns to trade hasn't it??

Have a look at the 1 minute chart when it was going down..

Attached Image (click to enlarge)
Click to Enlarge Name: going down on the 5 min top trender.png Size: 71 KB


And how about when it was going back up??

Attached Image (click to enlarge)
Click to Enlarge Name: going up with the 5 min trend...png Size: 77 KB


Now have a look at that 5 min 120HMA gotta be the steepest of them all surely?? Had to be top of the 5 min TTindy this morning surely?? And yep sure enough, looking back at my earlier posts I can see it was there along with the other runners from LO GBPNZD and EURAUD...

You see when you think about it the 1 min 120HMA will keep turning up and down with the 5 minute pullbacks but the 5 min 120HMA will hold its position top of the 5 min TTindy..right through those 1 minute pullbacks..

So going forward I'm gonna keep an eye on my 5 min TTindy and watch out for whoever is top then when the 1 min 120HMA turns back with the 5 min trend then jump on board..first 2 CCI signals after the turn..

To make things easier I'm gonna set the charts to open top eight 5 min trenders then listen out for my 1 minute 120HMA alerts and when I get one back with the 5 min trend I'll trade it by taking first 2 CCI signals back with the 5 min trend..

Gotta make sense hasn't it???

I knew I had that 5 min on the TTindy for some reason...
Feel the Fear and do it anyway!!!
  • #6,025
  • May 13, 2015 10:34pm May 13, 2015 10:34pm
Quoting clivepackham
{quote} OK I'm not sure if I can help as not my field of expertise but I had the same problem and this is what I did to put it right under GodsClowns instructions... You have to use the 3 indicators attached below and you have to create a folder in your indicators folder called "TTindy" then put these 3 indicators in that folder. Shut down and reopen your platform then see how it works.. Heres how you set the indicator folders up.. {image} Let me know if that helps or not, but thats all I can offer I'm afraid, GodsClown is the expert.. {file} {file}...

Thank you Clive, this helped!
  • #6,026
  • May 14, 2015 12:42am May 14, 2015 12:42am
Clive this is a nice one! I have been looking back and forth between 1M and 5M and traded the 5M. My question is: how did you overlay the 5M 120HMA on the 1 Minute Chart. Thanks for helping and sorry for bugging.



Quoting clivepackham
Now you all know that I'm constantly looking for the runners in the London and New York opens , but yet again today pairs like EURAUD , EURNZD and GBPNZD were dropping hundreds of pips and somehow race past us without us even giving them a glance... Well I think I've eventually worked out a way to catch the little rascals that are running... Funny thing is , its been staring me in the face for the last year without me realising it... Just like I use the 120HMA to find strong trending 1 minute trends and it works fine then surely...
  • #6,027
  • May 14, 2015 12:55am May 14, 2015 12:55am
x5
  • #6,028
  • May 14, 2015 1:07am May 14, 2015 1:07am
got it! thanks fury......

Quoting fxfury
x5
  • #6,029
  • May 14, 2015 1:30am May 14, 2015 1:30am
Not off to a good start today just lost 20 pips on GBPNZD and almost lost another 20 on this GBPAUD trade but its looking a little better now...

Loser might be down to looking at the 5 min top trenders but still thinking I'm on the 1 mins...

Mind you I like the look of these charts especially with the 5 min 120HMA so close by and we can see some nice reaction to it on our 1 min charts..

Still work to be done but Interesting so far...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM1.png Size: 53 KB
Feel the Fear and do it anyway!!!
  • #6,030
  • May 14, 2015 2:04am May 14, 2015 2:04am
Another 20 pips gone there Thats 40 pips in about 10 minutes so 40% of account gone, not too clever if it was real money is it???

Funny how as soon as I look up at these higher timeframes I seem to start losing????

Three thoughts really,

 

  1. Why do I keep trading Frankies hour when it regularly does this almost every day, just not worth the effort is it to throw away pips at the start of the day. Better to stay in bed for an extra hour and save some pips. Wait for London to open up properly and then see what we get when the real money hits the table. I'm convinced "The Good Old London Boys" are using Frankies initial spurt to fuel they're liquidity for them.
  2. Should I be looking up at the higher timeframes at all??? I seem to do so much better when I just focus on the 1 minute moves and nothing else. This morning I've used the 5 min Top Trenders to open up my charts to trade and its not worked out too good. Mind you that being said I do like the look of these early 5 min charts and if I can just trade the 1 min charts in the direction of the 5 min top trenders it might work. Guess its a sort of mindset thing that I'm trading the 5 min off of the 1 min chart. Just a small change but very important..


    Maybe the better way for me is to always trade the 1 minute top trenders but with my eye on the 5 min top trenders and when I catch a 1 minute trender then have a look up to see what I've caught. If its a 5 min top trender then look to hold and biuld as it could be the London runner, but if its not then just grab an orphan.
  3. So the 5 min top trenders don't dictate which charts I have open but just whether I hold or fold depending on where I am on the 5 min chart..It means I use my 1 minute top trender as my chart opener and just reference the 5 min Top Trender for holding or folding.

So the plans still not complete but I'm getting there I think the bottom line for me as a trader is that the 1 minute trend is the master for me and dictates what I trade. The 1 minute is where my skills lie obviously and I only confuse myself by trying to trade anything else. Just seems to distract me from the price action on the 1 min which might be telling me something different from the 5 min for instance..

However look at the current 5 min top trender, looks great doesn't it???

Attached Image (click to enlarge)
Click to Enlarge Name: 5 min top trender looks great.png Size: 59 KB


Especially looks good when the price crosses the 1 minute 120HMA and when it first crosses and retests look like some awesome entries don't they,plus any subsequent CCI buy signal...

Then look at GBPAUD number 2 in our 5 min TTindy and what a bloody mess?? No wander I lost 20 pips...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM1.png Size: 62 KB


You see I either have a 1 minute mindset when I trade or I have a 5 min mindset, Don't think you can do both at the same time, thats the problem. One or the other

Am I a 1 minute man or a 5 minute man???

Make my mind up and stick with it, can't do both at the same time thats for sure...
Feel the Fear and do it anyway!!!
  • #6,031
  • May 14, 2015 2:14am May 14, 2015 2:14am
Theres something in this trading the 1 minute in direction of 5 minute trend, so bear with me I'm just trying to sort myself out....

Will be back in 5 mins with some thoughts...
Feel the Fear and do it anyway!!!
  • #6,032
  • May 14, 2015 3:03am May 14, 2015 3:03am
Quoting clivepackham
... 40 pips in about 10 minutes so 40% of account gone, not too clever if it was real money is it?
...Why do I keep trading Frankies hour when it regularly does this almost every day
...I seem to do so much better when I just focus on the 1 minute moves and nothing else
.... Guess its a sort of mindset thing
.... So the plans still not complete
....I only confuse myself by trying to trade anything else.
... Make my mind up and stick with it...
Ed Seykota quote for the day :

Perseverance without change is dangerous.
  • #6,033
  • May 14, 2015 3:16am May 14, 2015 3:16am
Clive,
For me much less nervous trading the 1M chart with the 5M overlay and catch all the 5M big runners. Could even be automated......

Quoting clivepackham
Theres something in this trading the 1 minute in direction of 5 minute trend, so bear with me I'm just trying to sort myself out.... Will be back in 5 mins with some thoughts...
  • #6,034
  • May 14, 2015 3:23am May 14, 2015 3:23am
Quoting jtrade
{quote} Ed Seykota quote for the day : Perseverance without change is dangerous.

Great quote....and oh so true..

I started this thread almost a year ago on my journey to find my ultimate trading plan and so there has been many changes and toing and froing. One day one thing then the next something else, but how can you find your path without constantly reviewing and changing.. Someone once posted on here about a guided missile that seeks out its target thousands of miles away with astonishing pin point accuracy, but how does it do it??

Constant corrections , soon as it realises its off track it adjusts itself, time after time it changes direction until eventually BANG!!! It hits its target spot on....

I've been doing the same thing here for the last year but the good news is I'm getting close, very, very close to my ultimate trading plan. Just needs a tweak here and a tweak there and it will be done...

Gotta get off to work now so haven't got time to post or trade anymore today but will do a post tonight when I get home to let you know where I'm at with my goal.

Remember my trading goal at the start of all this was to have a trading plan that has very low risk entries with very high reward trades. Enter on the 1 minute and close on the a higher timeframe. Basically based on FXCM's report on what makes a successful trader, small losers and bigger winners.

Well I've been tirelessly working towards that goal and just like that guided missile, I make error after error, but I get closer every day and as long as I don't forget my final goal I'll get there in the end.

Just gonna leave you with another one of my favourite poems which says it all and saves me typing..

It Couldnt Be Done

BY EDGAR ALBERT GUEST


Somebody said that it couldnt be done

But he with a chuckle replied

That maybe it couldnt, but he would be one

Who wouldnt say so till hed tried.

So he buckled right in with the trace of a grin

On his face. If he worried he hid it.

He started to sing as he tackled the thing

That couldnt be done, and he did it!


Somebody scoffed: Oh, youll never do that;

At least no one ever has done it;

But he took off his coat and he took off his hat

And the first thing we knew hed begun it.

With a lift of his chin and a bit of a grin,

Without any doubting or quiddit,

He started to sing as he tackled the thing

That couldnt be done, and he did it.


There are thousands to tell you it cannot be done,

There are thousands to prophesy failure,

There are thousands to point out to you one by one,

The dangers that wait to assail you.

But just buckle in with a bit of a grin,

Just take off your coat and go to it;

Just start in to sing as you tackle the thing

That cannot be done, and youll do it.



I wander if he was thinking about making money at Forex when he wrote that?????
Feel the Fear and do it anyway!!!
  • #6,035
  • May 14, 2015 3:43am May 14, 2015 3:43am
This is the setup I am trading......

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM1.png Size: 69 KB




Quoting clivepackham
Theres something in this trading the 1 minute in direction of 5 minute trend, so bear with me I'm just trying to sort myself out.... Will be back in 5 mins with some thoughts...
  • #6,036
  • May 14, 2015 4:04am May 14, 2015 4:04am
Similar set up here Harry price above the 1 min 120hma which itself is above the 5 min 120HMA so looks nice now but would we catch that perfect entry ????

Attached Image (click to enlarge)
Click to Enlarge Name: perfect trade off of the 5 min ttindy.png Size: 65 KB


Well thats the million dollar question thats gotta be answered....
Feel the Fear and do it anyway!!!
  • #6,037
  • May 14, 2015 4:09am May 14, 2015 4:09am
Quoting clivepackham
Another 20 pips gone there Thats 40 pips in about 10 minutes so 40% of account gone, not too clever if it was real money is it???
Clive, I mentioned this earlier and you decided not to comment on it, so I was waiting on the eventual outcome. My brother, you must change your money management!

This type of risk will crush you if you were using real money. You could blow out in a single week! If you are treating this demo account like real money. I will say again, one percent a pip is much too high!

I'm pulling for you Clive.
If you are good at something, never do it for free--Joker
  • #6,038
  • May 14, 2015 4:12am May 14, 2015 4:12am
Quoting clivepackham
He started to sing as he tackled the thing That couldnt be done, and he did it!
Thank-you, Clive for a lovely & inspiring poem !

One last bit of unsolicited input - a suggestion - from me, then I'll mind my own business : for one month, define and trade ONE SETUP ONLY according to your ruleset, in demo. Write down the T Plan first : everything, inc trade management and position size. Trade as if it's real dough (VERY important), so use sensible & realistic position sizing.

STICK TO THE METHOD 100% FOR ONE MONTH - NO CHANGES ALLOWED.

Remember the first sentences from the thread of our friend, Mr V :

Quote
The original idea behind this thread, a good trader said to me that the first retracement is the best trade. The first higher low/lower high.

The outcome might surprise you....
  • #6,039
  • May 14, 2015 5:37am May 14, 2015 5:37am
Quoting jtrade
{quote} Thank-you, Clive for a lovely & inspiring poem ! One last bit of unsolicited input - a suggestion - from me, then I'll mind my own business : for one month, define and trade ONE SETUP ONLY according to your ruleset, in demo. Write down the T Plan first : everything, inc trade management and position size. Trade as if it's real dough (VERY important), so use sensible & realistic position sizing. STICK TO THE METHOD 100% FOR ONE MONTH - NO CHANGES ALLOWED. Remember the first sentences from the thread of our friend, Mr V : {quote} The outcome...

Thanks another great saying from another awesome chap, our own Mr V.

yep that is by far the best place to get in which of course is the first CCI signal after crossing the 120HMA..

Lets just repeat that for everyone else...

"The first retracement is the best trade, the first HL in an uptrend and the first LH in a downtrend"

Best we never forget that......
Feel the Fear and do it anyway!!!
  • #6,040
  • May 14, 2015 6:00am May 14, 2015 6:00am
Quoting clivepackham
Another 20 pips gone there Thats 40 pips in about 10 minutes so 40% of account gone.
what ?!
you're risking 20% of your account on each thread ?!
i lose money for a living
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