Trading is as simple as ABCD

Couldn't agree more and I would like some fundamentalist to explain to me how in a 4 hour period GBP can go from being top dog to bottom dog and back to top dog, all in 4 hours????

There is no ryhme or reason to that other than someone making money, nothing else at all. They made money selling it, then decided to make some more by buying it all back... Mind you it is what it is and we have to learn how to trade it..

I get into trouble on two accounts, the first one is when I believe I know where somethings going, thats a big no no...

The second reason is I'm in too much of a rush to get into the new move back with the trend, need to wait for the price to turn completely back with the trend wait for a pullback and jump on..

Heres what we have to do...

Wait for some strength or weakness to show itself across the board..



Wait for the strong trenders in the TTindy then with the 150HMA sloping nicely, lets say up for example so its green and sloping up nicely, wait for price to be nicely above it and pulling back towards it..CCI +/-100 only signals..

Put 10 pip stop behind signal candle..

Heres a couple of GBP charts from that last GBP strength reading on the TTindy..






Thats it and don't trade anything else...

Takes discipline to wait for the right signals as you have to let a lot go without you on them but invariably they come back on next deep pullback and pick you up anyway, so nothing lost...but it can be done.

The problem I find is rushing in terrified its going to go without me, thats my biggest battle the fear of missing out and my old adversary the fear of leaving something on the table..

Apart from those Monkeys on my back I'm fine...

Gotta harden some of my rules up and stick to em like glue as theres just so many opportunities in a day its ridiculous..

heres what I'm looking at at the moment...

When I look at charts like these I'm thinking just hit the sell button with a 20 pip stop and close out when the 150HMA turns green and you get what you get...



Breakout traders should have a field day with charts like these, just put a pending sell stop 2 pips below any green candle...

Hi Clive,
I copied your settings into my TTindy, but now get 5 digit numbers in the 5min column!
Help!

How do I fix this?

Can anybody help PLEASE?
My settings are identical to Clive's settings he is currently using.

That is happening if the TTindy has too less data. Try this: Open GBPAUD chart on 5 min and scroll to the last possible bar in history. Look if TTindy changes.

Just took a little one today with 10 pip profit.

Thanx GC.
It did the trick!

Oh dear didn't trade this morning and looks like I've missed all the fun with some pre-news trades on the GBP...





So plenty of GBP buying this morning prior to a positive news release, well theres a surprise, guess no one knew about that then????

Just making a tweak to my entry as I found myself getting pulled in far too early recently. I think my old entry system was driven by my fear of not missing out so this new one just waits a for a bit of confirmation that the CCI is going positive.

I've been trying a different signal candle and it appears to work well. If I'm buying instead of using the first red CCI candle thats coming back down from the -100 level, I'm waiting for the CCI to cross the zero line and close green and use that as my signal candle putting pending buy stop 2 pips above it. It means I'm waiting for the momentum to go back with the trend. Also gives you a bit more time to get your pending order placed ready to pull into position.

I still wait for the CCI to go oversold/bought +/-100 levels to signify a deep pullback then look for the new signal...

Heres a chart showing what I mean...



Simple little tweak but it seems to be making a lot of difference gets me in a little later but safer...

Got some other tweaks coming along dealing with my Fear of leaving something on the table, but want to test them out a bit first before sharing...

started yesterday testing with this strategy looks good http://www.myfxbook.com/members/redl.../ttidy/1281521

Hi Redline

That looks cool, I'm not quite ready yet with my strategy but getting closer everyday but still have some bad ones, just tweaking still to remove the rough edges almost there but not quite.

I'm focusing on exactly what it is I'm trying to achieve here in the mornings and building the strategy around it. I'm following the money with trading the strongest trending 1 minute trends at market opens but theres a little more understanding of whats going on needed.

Take this morning for instance that was obviously a run up on the GBP before the news release. Sometimes you can get a great trade after the news release. Then theres mornings with very little news and you're just get a nice steady run quite often from Frankie right through.

So by looking at which currency is dominating the TTindy you can get a great feel for whats going on and where the monies going, problem is to not hang a belief on it but to just trade the strongest/weakest scenario until that trend breaks.. Price is King as they say...

Right now of course we've got GBP strength every where after the news release etc but they are all right upto or over their ADRs so best left alone for the time being as the mornings move is over and done with one way or another and far too risky to be trading. Better to wait for some fresh Dollars from our American friends and see what happens there...

Mind you I "thought " that just after the news and most GBP pairs have pushed on another 50 or so pips...

All very interesting stuff of course but at the end of the day its a simple choice...

Up or down??????

Missed LO this morning although I did make a little on some GBP buys about 2% but all a bit edgy stuff with the GBP pairs at the top of their ATR's plus some... Now we have a very interesting TTindy with the 1 min and 5 min completely opposites colours but same GBP pairs ...

is it turn over time for these GBP pairs after a strong move up this morning?? All sitting there grossly overbought so a prime target for the New Yorkers to kick off a mad GBP selling spree... Or will they pick up the ball and run with it???

Who knows??? who cares??? just gonna sit here and trade the 1 minute trend until it ends...



better wait for the News to pass plus we have FMOC statement later today..might be worth a quick post news trade after that..



Interesting afternoon ahead...

Heres what I'm looking at ....Anyone for selling GBP???

Took the one with price below its 150HMA plus CHF is strongest daily currency...



Much against my better judgement I'm gonna hold it as its so overbought...

Nice set up on EURAUD well worth buying off of that 1.4675 level if it reacts???

News out of the way and this EURJPY setup well but needs to move its arse or I'm gonna have to cut it asap...

Cut it at BE....

Theres no real out and out strength across the board and most pairs are at or beyond their ADR's and approaching old highs of today so difficult to trade any higher on these EUR and GBP pairs...

Everythings looking grossly overbought so probably better to sit back and watch for an old high to sell rather than buy...

Just gonna sit back and watch a bit and pounce if I see any reversal opportunities..

Time for me afternoon cuppa...

Look out, the GBP's on its way down and its got a long way to drop...



Not a system trade as such as the GBP pairs were all still pointing up but when they're so overbought theres only one way to go...

20 pips up on GBPNZD but thought I was in it for the long haul but nope came back and took me out for nowt....

Never mind AUD strength across the board so might be better off with selling GBPAUD...

Start of the day and we've had a strong move into Frankie with AUD & JPY strong with EUR & GBP weak so possible reversal setup back with the daily trend as LO might see this as a buying opportunity. I always think the new market is looking to reverse the previous markets move as theres a lot of traders sitting there short holding profits and ready to bank at the hint of a reversal. Of course the good old London boys are well aware of that so just tweak the overnight traders emotions with a quick buying spree and hey presto in the mad panic to bank their profits the Asian sellers provide London with all the liquidity they need for their massive orders...

Just my opinion of how it all works and why we get such massive swings with no apparent fundamental reason for them....



Most of these pairs have moved down 100 pips over night so can't expect much more downside can we??? Or can we???