Trading is as simple as ABCD

Great explanation and chart examples Clive.

As jtrade had said earlier, you need to focus on one entry for a month. The laser focus required for this game is being lost in the mix here.

I see you love exploring the different approaches to possibly grabbing the runners, and sticking to one focused approach is not doing it for you.

If this is the case then write down three or four (or how ever many) clearly defined techniques you will employ and watch them over the course of the month. Side by side.
ie. orphan grabbing, 5min hma following, daily hi/low

I guarantee if you dont solidify how youre actually going to approach this you will probably revert to orphan grabbing when u have real skin in the game, and I'm not talking 500$.

I like seeing the different iterations that people are showing, but it does not appear one solid iteration is being employed over 100 trades or 1 month.

Hello Clive Can you explain to find s/r to scalping. and how to use ADR? sorry to my english.

As you all know by now I'm a one minute man through and through, if you were to break me in half it would be like a stick of Brighton Rock. It would say 1 minute man right through the middle...

However I'm starting to realise I need to trade my 1 minute timeframe in the direction of the higher timeframe if I'm ever gonna achieve my goal of bigger winners than my losers.. This is fundamental in my belief that successful traders have bigger winners than their losers. So its not too clever to keep grabbing orphans the same size as my losers and its certainly not wise to have bigger losers than your winners no matter what your win/loss ratio.

So I've been thinking how can I get bigger winners on a regular basis and make sure my losers are smaller. Seems simple enough in theory at least..

Bigger winners will come from trading with the 5 minute top trenders and smaller losers will come by only trading CCI signals and tucking my stop behind the signal candle,sometimes for as little as 5 pips and certainly never more than 10, as I've noticed if the CCI signals work then that stop will be fine and if they don't work then I want out asap to keep my losers small as possible..

have a look at the following charts and you're see what I mean about good CCI signals just go so a stop behind the signal candle is fine. Also I'm gonna have a 3 minute rule and if my trade hasn't gone by then try to get it to BE even if its only half a pip up but either way just close out asap.

Been studying CCI signals in great detail recently trying to establish which ones work and which ones don't and whether or not I could distinguish between them?? But I can't really apart from saying only take the ones that go overbought or oversold.. If they don't come over the zero line leave them alone...means you miss some good ones but also you miss some crap ones too. I need price to pullback at least 10 pips from the last High or Low so that as it drives back down or up I have room to get to BE before its challenged by the last high or low..so really important to take the deeper pullbacks signaled by the CCI going overbought or sold..

I'll show you what I mean...

First of all I'm only going to trade in the direction of a 5 min strong trender using the 5 minute 120HMA on my 1 min chart so thats 120 x 5 = 600HMA, so to sell I must be under the 600HMA and to buy I must be above the 600HMA. It must also be in the 5 minute TTindy top 4.

I've also dropped my 120HMA from my 1 minute charts as I'm happy to take any CCI signal as long as the pairs in my 5 min top 4. The premise for me is very simple. If the 5 min is trending down strongly then I'm interested in any 1 min CCI sell signal but with the stop tuck behind the signal candle.


Heres how the TTindy finished on Friday with GBPCAD,GBPUSD ,GBPCHF and GBPJPY the top Four 5 minute trenders..

So I haven't hand picked these charts, these are the charts that finished top of the 5 min TTindy.



Now its not the best time of day to trade but at least we know its the current top trenders so lets have a look at a few of the charts..

First top trender GBPCAD



Now 2nd placed GBPUSD



3rd placed GBPCHF



And finally bringing up the rear 4th placed GBPJPY



Firstly notice how there was GBP weakness across the board so as Mr V. says a good time to be selling GBP pairs.

Secondly remember my entry is the first short CCI candle as long as the price candle is going back with the trend, in this case red then place a pending sell order 2 pips below that signal candle. Many of the signal candles don't get hit because of this 2 pip rule so I haven't marked those CCI signals.

Looks pretty impressive doesn't it?? And remember I didn't hand pick these charts these are the four top trenders at the end of the day so picked by the TTindy not me. Also its really not the best time of day to trade so lets have a quick look at just after the LO on Friday when we should look for the first colour change just after LO.

Heres the GBPUSD chart from Friday's LO...



Just seen FXFURY's post about sticking to something for a month so here it is fxfury, I'm definitely trading this setup for the next month and I'm thinking about my exits too. Either gonna just Orphan hug each move or bank half of each move and leave half to run. Lets see how it pans out over the next month...

Great, thats an excellent representation of what you have been trying to lock in on, and bonus that you didnt have to hand pick the charts. Looking forward to seeing u get the green this week.

I think its really important to pay attention Mr V's strength/weakness across the board situation, look at last Fridays LO when CHF weakness was present across the board just after LO heres some CHF pairs to look at just after LO...











Yep I'm gonna give this a bit of a run see how it all pans out....

Taken two trades today one at BE and this one on top trender GBPJPY ....

Feels nice and price appears to go my way quite nicely with these 5 min trenders...

Took 15.6 pips out of that one and looking to get back in either next pullback or maybe a breakout lower???

Work calls I'm afraid which is a shame as I think this following the 5 minute trenders is going to work well, 1 BE and one 15 pip winner, that I'll do but just feels like its all about to start moving...

i got in too early on that same trade and closed it for a small loss, but stopped now till US open 19pips up. 1.46% on account when commission taken out for all trades made. hoping for two really good trades later at US open . . . pips made this past two hours were from eur/usd and eur/jpy.

Hi Clive,
this is what you ask for in your privat message. To have opened top Charts of both TFs just put in ChangeChartSymbol = 2. If ChangeChartSymbol = 1, everything is like is was before.
Not long tested.

Good day all,

My last trade today. Some GBP pairs were in strength, with G/NZD leading but I don't trade that one because of high spreads, so I look for GU or GCAD as proxies.
GCAD was second on the TT and it was at today's high on my dashed line but I decided to take it and look for a pop at the top of the hour and luckily got it. I adjusted my initial stop to only 8 pips on this one. The exits were split at 8.5 and 12.5 pips and stop is moved to BE -2 after 8 pips, but all this was invisible because the move was so fast.

I had previous trades on GU and GCHF earlier but got jerked around and got out at BE + a pip or two and those exits turned out to be good decisions.

My net profit for the day is 5.4%, so I'm grateful and happy.

Green pips to all.

Coral,
I was up, then lost it all when Eur/usd and eur/jpy did that reversal in the 1st hour of the US open. And then got it back plus some with that push up from Gbp/cad and eur/cad. I ended my day with 4.52%. I am, like you, very grateful and happy. Would never have known how to catch those pips without the TTindi and Clive's thread. I let the eur/cad trades use a trailing stop of 3.5pips. The gbp/cad trade i moved my TP way up over the R1 and just manually trailed the move by dragging the SL behind the candle aggressively. Like you said, fast push up.
I lost too much with that reversal earlier though, I think my 14pip SL is gonna be too far back for this system . . .
Jason

looks like if i had stayed in the gbp/cad trade it would have doubled. got too aggressive with SL

Can't get to any charts today as in meetings all day but thats a nice GBPCAD chart just after NYO wasn't it?? Those are the trades I'm looking for nowadays I think its all about time of day just after the markets open... Some nice runs on good days and the 600HMA should help us find them too.

As for the size of the stops I've been looking into which CCI signals work best and which don't but the honest truth is its hard to differentiate other than to say the ones closer to the HMA seem to go best, like the one in your chart..

The other thing is if you study the CCI signals they either work or they don't so I'm thinking tight stops above the signal candle at most as they either work or they don't so when they don't just get out asap..Means you can keep your losers small which is a major factor in profitable trading. When they go they just keep going...

Trade in direction of strongest trending 5 minute charts all the time price is right side of the 600HMA then take the CCI signals at nice levels of support/resistance...

Anyway I'll leave you guys to it but now is probably not thebest time to be trading although the London close and New Yorkers coming back from lunch can sometimes cause a nice move...

Good luck..

Thanks Godsclown will test it later

Catch up soon on skype if you're around????

Very nice recovery and profit for the day Jason, congrats to you.
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For me to enter on a top trending pair, I need to see higher highs and lows (opposite for short) with price always leading the 120 HMA and my 360 HMA has to be the same colour; it's especially nice if the 360 is already established in my direction and the 120 is still separating from the 360, showing full acceleration for continuation trades. I will not enter if the price is pausing under the the 120, so price must be leading it - touching the 120 or just a bit under it is OK but I'm firm on that rule. I don't want to see the 120 curve starting to bend against me. Looks like I'm quite a bit astray from Clive's newer method with his M5 setup now, but I want to be consistent with this for a few more days and see how it goes. It served me well on the demo and I was anxious to see how the live executions would go. No complaints on that except, as on the demo, the spreads are too high for me on some pairs. I'm also looking at trading gold off to the side but have to do much more back-checking on it to see the history. It might be a good standby for slower FX days. I wish my broker had Crude also, but that's another story.
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Golf season is starting for me and I will miss some early mornings; I'll have to see if I can do something around the London close and a bit later
on those days. Golfing at sunrise is the best part of the day for me during the season and I can't sacrifice that.

Best to you.

Al

4.52% in a day, nice trading Jason..

Keep it going and don't get too cocky as Forex has the habit of biting your arse just when you think you're getting the hang of it...

I appreciate the warning Clive. I can honestly say my heart is full of gratitude for having come across this thread and Udine's 00 level thread.

Not the right time of day I know but I've got a new trade manager under development with a fellow trader and so I thought I'd give it a run and see how it goes, so far not a single loser...