Trading is as simple as ABCD

Unbelievable!!!!!!! 15 pips up and I didn't bank it!!!!!

This is my Demon!!! "The Fear of leaving something on the table" is absolutely killing me as a trader....

Got to learn to bank these runs as this is what happens 9 times out of 10 and the proverbial runners are pie in the bloody sky!!!!!! Lok at any chart and you will see hundreds of these nice little trades time after time from CCI pullbacks, just gotta bank em!!!

I've gotta recognise my strength is entering getting to BE and then I should just bloody bank!!!!!!!

I have been 10 pips up today so many times I've lost count .....

I've just got to dump any thoughts of catching runners from my head....

Bit late in the morning but some nice GBP strength coming back to the market ...

It said GBP strength so I 'm going for it...

EU wont go over YL , TP 10 pips LOL..

EU short , TP not dip

Clive

Maybe you need to decide if your looking at being a longer term trader or a scalper. I know everyone wants to hit the home run and make 100 pips plus per trade but the reality of trading 1M charts is you are more often than not going to make 0-30 pips on anyone trade. I guess I might see this differently if you were looking at daily and 4hr charts for your trade signals and dropping down to 1M charts for pinpoint entries but the fact is the main chart for your system is the 1M.

If you have 2 or 3 trades a day and your up 10 pips then you would have had a 30 pip day. I think the secret in trading like this is to build your account until you can trade 2 ,3 4 standard lots at a time and knowing you're a master at taking 10 pips outta the market.

Otherwise you may be better off going to a longer term chart and trading mini lots and looking for 100 to 200 pip moves with a 100 pip stop loss.

Again, just my 2 cents.

Interesting to see USDCAD as my TT at the moment, a sad state of affairs considering it's usually such such a slow mover compared to our other pairs.
This just reflects a choppy day so far for me, from what I'm seeing.

Yesterday it did a lot of traveling from Weekly R1 to Weekly R2, about 120 pips and rejected R2 again this morning. I would need a special set to trade this and the other slow movers but so far have not touched them.

But I'm slightly positive after a full loser @12 pips, a partial loser @ 8 pips, a full winner and a partial winner.

Orphans are the answer Clive. You are only trading nervous M1 charts after all, with TT pairs changing almost every minute and trends quickly becoming stale in those setups. To feed the need for big runners, you might consider splitting your exists and taking partial winners with a runner at BE? Just a thought, but it's your money.

today has eaten my lunch. back to BE on account.
gotta make some changes, take less trades.

Chin up and keep pushing forward. Just remember that not all signals are created equal. One can get eaten alive trading 1 minute charts if they are not selective... There are many signals everyday on this TF. Be patient and take only the best of them (the AAA+).

Up 2% and bit short of my target but that's it for today.

NYO has definately been about the GBP pairs. EUR pairs moving not so well but GBP has picked up some steam post NYO. Few trades accross some of those pairs for sure.

Thanks. I will live to collect pips another day. Definitely need to be more selective. I am learning. I appreciate constructive ideas from you guys. Thus, I contribute to the thread. It's a good thread and a workable system. I need some more stringent rules for grabbing short runs (like Coral mentioned above).

Jason

excellent. 2% compounds too.

Great pipping today on EURUSD glad I discovered this thread. Can't thank you enough guys

Not the time of day to do this but, I have to go for it.

Take the SL at BE.

i was over trade london season get stuck choppy market , still missed my rule , i upload file for my friend Remso.

3 charts from earlier. looking at MA's and CCI signals. SL of 8pips would have been very sufficient for buying any of the good signals of wave bottoms.

I had missed this post from you a couple of days ago on your Trade Manager development manager Clive. I hope you engage that method with it. With your tight stop wizardry I'm pretty sure you will find it quite amazing.

Cheers

Nice charts Jason and you're just like me looking at all these great runs and trying to fathom out how we're gonna catch em..

I just wanted to pass some of my thoughts to you as I know exactly where you are on your journey as I've been there myself and quite recently at the start of this thread. I want to talk to you about that last GBPAUD chart so I've posted my own version with some points I want to make to you and anyone else who's trying to fathom out this game of forex...

You refer to the 210 CCI and how you're using it to identify a good trend and so when to take the 8/10 CCI signals. All good stuff as the CCI being over 100 levels and staying there designates a strong trend as its designer Donald Lambert, meant it to do, so an ideal time to buy those dips or wave bottoms identified by our CCI signals.

However I wanted to point out that you may be over complicating it by using the 210 CCI indicator for a strong trend indicator as you already have one on your chart, we already have the 120 or 150HMA. If you look at price in relationship to the 150 HMA then when its above it , it also denotes a strong trend is in place and if you want a good entry rule just take CCI signals above or very near to the HMA. Have a look at the vast majority of my charts posted today and you're see the good ones are clearly above the 150HMA and the 150HMA is clearly above the 5 min HMA.. I'm trading with the 5 min trend as well as the 1 min trend.

On that subject I would say trading the space between the two HMA's is not a good idea as we are trading against the 5 minute boys, far better to wait for the price to cross the 5 min HMA and go from there. I sometimes trade back towards the 5 min HMA but only if its stretched away from it as we can then expect it to go back with a bit of a bang... But if its close just don't bother...

have a look at the chart I've marked where the 210CCI crosses the zero line so saying its uptrending and its identical to where the HMA changes colour and its practically the same when the trend ends, when it turns red again. So if you want to know when you've got a strong trend its when price is above the HMA, I'm using a 150 now as it tends to stay one side of the price nicely.

I've marked the CCI signal candles with green arrows in fact its a little indy that I'm working on with another trader, which marks then as it goes so very useful. Notice something else about the signal candles, they have to be the same colour as the trend and we place buystops 2 pips above them. To see how good these signals are just have a look at the two I've marked with red arrows they wouldn't of hit their buystops so not taking you into a possible loser.



The reason I stopped using my 210 CCI is because i just want to keep it as simple as I can, basically price only goes up or down so all I really want to know is which pairs trending strongest and where are the dips, wave bottoms in an uptrend and where are the peaks wave tops in a downtrend. Anything else to me is a complication we simply don't need. We are either convinced somethings going up so we're buying wave bottoms or we are convinced its going down and we're selling wave tops...

The definition of a strong trender to me is that its in the top 4 trenders of the TTindy pure and simple. Don't even look at any other charts , that way my charts all look very similar. If you look at my good entries that I posted earlier today you will see they are all clearly above the 150HMA when I trade them. Theres a couple later in the morning where they drop below but they are still close but more importantly they are coming back to a support level even if they are below the Hma the market structure is still in place.

Too many indicators confuse the issue and too many rules too...

So when I'm trading all I'm doing is saying to myself, this is going up I'm looking for pullbacks to support/resistance where I can join the trend safely and get to BE quickly.. Soon as I become suspicious about the strength of the uptrend I stop trading it, simple as that. Like I've said to you many times if I have any doubt I stay out...

Lastly i want to say this about trading the 1 minute charts, the indicators are just that indicators but its price action that actually makes my decisions to enter or not. I'm always looking to buy at support and sell at resistance levels and make sure market structure is in place. Buy HL's or DB's sell LH's or DT's.. DON'T BUY LL'S AND DON'T SELL HH'S...

So can we put some rules to all this I guess is the question??? Well I'll try but the very basic rule that overrides all else for me is price action in a strong trending pair..

Heres some rules for this system...

1) Time of day. We are trying to follow the money as it comes to the table so wait for the session's trend to set itself out properly , this means not trading before or durring Frankies hour as I firmly believe London will use Frankfurts initial move to feed its bigger need for liquidity and reverse the Frankie move. Do yourself a favour and stay in bed an extra hour..

2) Strong trenders only, I only have the top 4 trenders charts open on my screen and trade one of them. I don't even look at any other chart, just not interested if its not trending. Remember .. "If it ain't trending we ain't trading"

Thats why You're see the vast majority of my charts with price clearly above or below the 150HMA. So that means to me only take signals/entries when price is either above or below or very close to the HMA. All my good charts look the same don't they?? Many guys marvel at how my entries spring away and I go to BE at just a few pips, well the answers simple, I only trade strong trenders and thats what strong trenders do!!!

3) Trade in the same direction as the 5 minute HMA so your 1 min HMA should be above your 5 min HMA and your price should be above your 1 min HMA. Be careful of trading when price is between the two HMA's, I would say never trade towards the 5 min HMA but if its a long way away and you've just had an awesome reversal signal then its ok, but take profit as it hits the 5 min HMA. Don't trade right into the 5 min HMA thats just suicide...

4) Look for strength or weakness in one currency like Mr V. says. Then look for the best setup in one of those currencies pairs. I sometimes look at my CSM then to see who's at the opposite ends of the list and so trade the weakest against the strongest currency.

5) Take the first 2 or 3 CCI signals after the turn as these are by far the best entries. I would even say just forget any later ones unless they are clearly above below the 150HMA. definately leave the later CCI signals that are the wrong side of the 150HMA. I see this as a definite first sign of the trend weakening and possibly about to reverse so leave well alone. Again the only time I would take later signals is if the price is clearly the right side of the HMA.

6) With all entries look to enter on break and retests of levels so you have somewhere to tuck your 10 pip stop under. Buy at support sell at resistance.

7) Only buy wave bottoms in an uptrend only sell wave tops in a downtrend. NEVER THE OTHER WAY ROUND...Make it a solid rule to only buy oversold CCI signals and only sell overbought CCI signals. This rule alone will save you a lot of bad entries. Its all too easy to hit a trade as price is racing in your direction,

BUT DON'T , NO MATTER HOW TEMPTED YOU ARE TO DO IT.. JUST SAY NO!!!!!!

Sure you're going to see many trades go without you but don't worry 9 times out of 10 it will come back and pick you up, remember price moves in waves just wait for your wave to come before you jump on board.

Can't over emphasise the importance of this rule its massive, have a look at any top trender and you will see the perfect place to enter an uptrend is when the CCI is oversold. The perfect place to enter a downtrend is when the CCI is overbought. Look at the red spikes down in an uptrend, have a look at the green spikes up in a downtrend, time after time they are the best place to enter. Lock that image in your brain. Having the patience to wait for these opposite spikes is absolutely crucial...

8) The entry. I've done so many posts on this I'm not going to describe it in too much detail but very basically watch for a strong AB move of maybe 25 pips then wait for it to pullback the BC move indicated by the CCI going overbought/sold and when the CCI starts back then look for a price candle back with the trend and place a pending order 2 pips above or below that signal candle. Stop is below the last low/high. Try to get stop below/above a key level .

9) Move to BE asap usually within 3 to 5 pips or after 3 candles, if it hasn't gone after 3 candles look to extradite yourself for as little damage as possible, I will go to BE at half a pip just to get out. Remember you're trading a top trender if your entries right it should fly within 3 minutes or your wrong so just GTFO....And don't worry about missing out, this is the 1 minute chart, another entry will present itself within minutes. If it does go without you, don't worry it won't go far and it will come back for you too...

10) The dreaded exit.. I'm now of the mindset to just take the move whatever it gives you, soon as you see it falter just bank it. I've been trailing by 2 candles which seems to work quite well but bottom line stick to trading each ABCD move as a stand alone trade on its own and exit at D wherever price falters...

If you want to hold then I would bank half at D and move other half to BE and let it run until either the 1 minute or 5 minute HMA changes colour or price closes across it.

Well that is it 10 simple rules to follow....

Sounds complicated but its not your chart just needs to look like my earlier ones today but just in case you missed them heres a perfect setup on GBPJPY



Ahhh that feels better getting all that off my chest and on the thread...