Trading is as simple as ABCD

Looking like we might have a shift in power going on so gonna sit back a bit and see what develops over LO..

Time for my morning cuppa and let em sort themselves out a bit.. Sort of a Frankies shake out..

Onwards and upwards...



Wish I'd held my earlier trades but you just never know do you???

But I'm thinking I just need to focus my mind on catching the mover of the session then maybe I'll catch it??

Took another 13 pips there slowly slowly catch a monkey....

It just keeps going...and hopefully giving..

deja vu? extremely similar to yesterday's break and test of 191, here we break and test 191.75



edit: well, could have gotten it from 191.80 up to 192 easy before a reversal . . .

Took another 15 there just not letting it come back at me today and just 3 pips short of my century today so where can I find another 3 pips???

i had a pending order to get in this and removed it because afraid of internet here.
also, usd was above eur on currency strength meter . . .

Just like fishing, its always the big ones that get off the hook....

two great CCI signals just before it too...

Heres another one that got away, I closed it for 5 pips as it reacted to the BRN but missed the extra 20 pips available...



Just the way it goes with 1 minute trading..

Not convinced we should be trading anymore as we've had our move earlier but heres something interesting, we have EUR strength on TTindy but its the weakest currency on the CSM therefore we are in a good position to buy EUR..from a cheap area..



This quite often happens after a strong move down obviously off of some random news announcement which then positions EUR at a discount price for buyers...

hahaha. i was thinking, what are the odds that i had a pending order, removed it, and then it dropped, but then i remembered it was eur/usd and 10,000's of people are placing and removing pending orders on it all the time . . .

Just lost myself some pips messing around just before NYO, I gotta say I'm starting to view the hour before NYO as inconsistent as Frankies hour. very unreliable price action and whipped about all over the place..

I think its because one market is sort of handing over to the next and theres a little power struggle goes on whilst they decide who's in control.

My whole system is about following the money so I should stand back and wait till they've sorted them selves out a bit and know what they are buying or selling for the session.

Yep time of day is critical to this whole strategy or at least you need to see some strength or weakness across the top 4 and moving the same way..

Also it would be nice to just trade for 2 hours and then spend the day doing what you want wouldn't it?? So makes sense in every way just needs the discipline to follow it..

So heres what I'm looking for:

Time of day just after the market opens give them a chance to get their money on the table..

All 4 top trenders should have the same currency in them..eg all GBP pairs or all EUR pairs etc.

Look for a chart from the top 4 thats looking very clear which way its going..

Then look to join the trend at the earliest chance via an OB CCI in a downtrend or a OS CCI in an uptrend.

Bank what you can from each move.

If I find I'm regularly catching the sessions runner this way then I might look into banking half and holding half. All depends if I can regularly identify the runner or not.

Right now top 4 are all GBP pairs going down so looking to sell the GBP somewhere...

chart:


had i stayed in (got out not knowing if news on usd would impact the trade) . . .

Just thought I'd share some interesting daily strong trenders..



Heres the top 4 charts that look quite nice to trade...









Could always keep an eye on these strong trenders for a nice Daily CCI signal then look at the LO and NYO for the 1 min 150HMA to turn with the trend and away we go..Most of the daily trends resume at either the LO or NYO so every chance of getting something to stick.

Not that I will only be looking at these pairs on monday but I will be aware that they are the strong trenders but a part from EURJPY could well expect a daily pullback soon so I will be selling just as hard as buying..

I will just trade whatever the LO or NYO throw up and see what I catch then go from there...

The other thing I'm working on behind the scenes is trying to work out which pair to jump on in the morning if say we get some GBP strength across the board. I'm looking at the daily CSM for guidance and wondering if that gives me a clue which pair to jump on in the morning??



Now as we can see the strongest two are GBP and CHF and the weakest JPY and NZD so when I got GBP strength on Friday morning ...

Heres my screen shot at the time..



I had two choices GBPNZD or GBPJPY???






I took a position on both but eventually traded GBPNZD for a nice 100 pips ...

So I'll try the same thing all next week and see how it works out for the week..

My current trading strategy including my 5 rules...

As you all know by now I'm constantly looking for ways to improve my trading strategy and to maximise my profits so as things are constantly being adjusted I thought it wise to update where I'm at now...

By the way before anyone suggests its time I stuck to one thing, I am. But that doesn't mean I won't be forever tweaking and changing to improve and move with the market. It will be ongoing for the rest of my life as I can't ever imagine the market not constantly changing, hopefully they won't be drastic changes but just a tweak here or there to keep profits maximised..

My Trading Philosophy..

My trading philosophy has never really changed from day one. Price can only go up or down so I have a simple choice to make am I a buyer or a seller of the chart I'm looking at?? Actually thats not quite true is it?? As I have a third choice which is probably even more important than the other two. I can say NO!!!! Not interested no idea where you're going next you're obviously not trending so I'm not trading...

Remember our golden rule that out ranks all overs?

"If it ain't trending we ain't trading..."

So all I have to do is find a chart trending strongly then using my ABCD setup jump on board at point C and exit at point D...

My definition of trend for me is the 150HMA if its green we're buying if its red we're selling, if you want to be particularly cautious only buy when price is close or above the green 150HMA and vice versa for selling. However I will buy from under a green 150HMA if market structure is still in place and its clearly at a key support level, vice versa for selling too..

Thats it pure and simple as ABCD.....heres my 5 rules for engagement..

My Trading Strategy..

Rule 1 - Only trade 3 hours after market opens LO and NYO are best, but theres some nice moves from TKYO too.

My whole trading strategy is based on following the money at market opens, which I achieve by trading the strongest trending 1 minute charts.. Its money that moves this market one way or the other so all we have to do is follow it whenever new money comes to the table. That obviously is market opens so the first rule of my strategy is to only trade around market opens.

Rule 2 - Only trade from the top 4 in the TTindy.

Only trading strong trending markets is crucial to any strategy in my opinion but in particular with this one as we are looking for the money coming to the table therefore the stronger the 1 minute trend the more money is going on that pair. To do this I look at the top 4 trenders in the TTindy like I did on Friday. Heres what I was looking at Friday I had the four top trenders open on my screen like this.



As you can see the TTindy was dominated by GBP pairs as the top 4 are all GBP pairs.. This tells me to look to buy a GBP pair.

I'm also only interested in big movers so I'm only looking for one of these top ADR pairs GBPNZD, GBPCHF, GBPAUD, GBPJPY, EURUSD, EURAUD, EURJPY, GBPJPY.



These 8 pairs also cover every currency so I have all eight currencies covered for any currency strength or weakness that becomes apparent as the market opens..

Rule 3 - Look for strength/weakness across the TTindy.

This rule is particularly aimed at finding the currency that is being bought or sold for the session so I'm looking for some strength across the TTindy in one currency or another. As you can see in chart above GBP pairs dominated the TTindy so I was looking to buy a GBP pair. The TTindy below is dominated by EUR pairs especially the top 4 so in this instance I would be looking to buy EUR...



This also can give us a clue as to which currency is going to give us our runner for the session, normally it will be one of these pairs but which one?? To give me a clue I look at my Daily strength CSM to see which is the weakest/strongest daily combination. Heres my Daily CSM from Friday..



GBP was strong so I look to trade it against the weakest Daily currency either JPY or NZD in this case GBPNZD worked out best going up 140 pips as chart below.



I also watch all four with my screen in quarters to ensure they are moving together and I'm looking to see which sets up the best. To be honest its hard to know which one is going to develop into a runner but at least it gives me a chance...

Rule 4 - Entry - Only buy bottoms of waves in uptrends, buy when the CCI is oversold. Only sell tops of waves in downtrends, sell when the CCI is overbought.

A picture paints a thousand words so again from Friday heres the same GBPNZD chart with the perfect entries marked out. The entry itself is the normal when the CCI comes back from its oversold level and the candle is back with the trend , in this example green. That is the signal candle place a pending order 2 pips above the signal candle.



Some further guidelines here on entries. Look for break and retests of key levels, like old S&R , 25 levels are excellent, yesterdays high,low and close, pivot points etc.

What NOT to do , DON'T SELL WAVE BOTTOMS(CCI is oversold -100) IN A DOWNTREND, DON'T BUY TOPS OF WAVES( CCI is overbought +100) IN UPTRENDS. Basically don't breakout trade...Hate em..

Its very easy when price is moving fast to get carried away and enter as price is racing one way or the other, but DON'T!!! Wait for the CCI pullbacks , if it goes without you it goes without you, but if you look at the chart above you can clearly see the best place to join this trend is whenever the CCI is over sold, look how price leaps away.

Just learn to wait for price to come back to you, very ,very important. But also be ready for those entries when they come and get in as tight as you can soon as price starts going back with the trend. If you miss it let it go.. Look at any chart where price is trending strongly and these CCI tops and bottoms are awesome places to enter back with the trend..

Place your stops behind the signal candle not much more than 10 pips. I tend to drop a 20 pip stop on immediately then drag it up to behind the signal candle. I go to BE very quickly after a couple of minutes if it hasn't gone quickly back with the trend then GTFO as close to BE as possible. Look again at these good CCI signals they don't hang around for long so if it doesn't go just cut your trade for as little damage as possible.

Rule 5 - Exit - Bank at point D soon as you see price falter.

Now exiting is one area where I am still not 100% happy. I'm saying here to exit at point D whenever price falters but as you can see from the GBPNZD chart I would have done much better to have banked half and held half until the 150HMA is either crossed or changes colour. If I was going to do that I would bank half at say 10 pips then leave the other half as a "runner". I would put my runners stop at 10 pips to give the runner a chance to survive the inevitable retest and get going. Very often price comes back to my entry and stops me out at BE then resumes with the trend so its important to leave the stop behind support rather than at BE on your entry point.

Imagine if I had held my entries on Friday there would be 5 or 6 trades totalling somewhere around 250 pips, but of course the problem is if you don't catch the sessions runner you won't get as much as you would by banking the whole position size at D on each move...

I'm gonna monitor it really closely next week and see how it works out , its really dependent on how often I catch the session runner which believe me is not easy....

Well thats it folks Clives Fab Five....

Not a lot of news to worry about this morning apart from an Australian Bank official chatting to some kids at university so maybe avoid GBPAUD for a bit just in case he says something to upset the applecart . Other than that a bit of CHF low impact news so looks good to follow whoever comes to the top this morning..



And typically for Frankies hour the TTindy looks a little confused or is there a bit of USD weakness creeping in???



Too early to actual trade yet but like to get a feel for whats going on before it kicks off properly just after LO...

Time for my morning cuppa...

Heres what I'm looking at , looking like some USD/GBP weakness but still in Frankies hour so too early to go for it yet as LO very often takes the early move from Frankie and spins it on its head...



Looks very tempting to sell those two GBP pairs but plenty of time....

Frankies nearly over and its looking like the GBP/USD are weak and AUD strong. Its interesting watching the Frankie hour because its always different but lets see what happens today...



Will London pick up the ball and run with it?? Or will they see Frankies initial move as the liquidity they need to start buying GBP or the USD???

Time will tell for the time being just sit back and wait...If we're following the money better give the Good Old London boys a chance to get their wallets out...

GBP weak across the board which is opposite to the Daily outlook but then they have to bank their profits sometime or is it setting up for a GBP buying spree around mid morning???



Who knows??? Certainly not me , so I'll just see where the monies going, not keen to sell the GBP at moment as it looks like it might be building a base ready to go the other way. Just give it a bit longer to show its true colours...

EUR it is then and top trender EURJPY set up beautifully so in we go...



banked half at 12.7 pips so lets see what happens to the other half...Have a caught the mornings runner???