Trading is as simple as ABCD

did anyone get the perfect trade on AUDUSD m1?
the 1min 5min and 15min channels ????? all aligned and pointing up for long.

reward says it all and your risk too

tell me you would have taken this? 7:1 RR

7 to 10 pip stop and 70 pip profit

Q..would you take the short where i marked the down arrow ,,,yes or no?

post link please

I think that's an ok entry, price should at least retest 1.1200 before heading to 1.13+++ if it goes against you. I hope you didn't over leverage though, your position is counter trend.

no its not ok

rules are broken
answer the 3 Q on post 6799 and you will also find your answer to why i should not have taken the short trade

Hey Clive,

Nice update to your system, and congrats to you and Jason for referring me back to the old Babon system. I have added the M5 TMA to my system too, and it is looking great and will start testing from tomorrow. Great for entry & re-entry confirmation in combination with my MADdash and perfect for exit


And by the way Jason, the EURUSD is still bullish and I hope this works out for you.


In addition to Alorente's thread, folks can also check out the Babon System that uses the same TMA on the M1 TF.

Shalom

if you looked at the nzdusd m1 you see a good short with the m1 and m5 channel,,,so you would have shorted this and followed it down the m5 channel.

if luck was to play part the bigger m15 channel may start to point down ,in which case you could trade the bigger channel down,,,eg m15

but as it is in simple terms,,,,trading the m1 and m5 channel,,,perfect entry as both are slope down and meeting together at the top

minimum risk,,,lots of reward

Hi DT
Are you trading via a UK spread bet company whilst trading on the one minute time frame ?

Great work clive/devon. really appreciate what you are doing here. If I was to add a 1hr set of bands to my charts what settings woud you recommend? Clive are you still using the settings outlined on page 337 for the 1,5,15 bands?

Cheers,
iak

see 2 pics

i trade on demo with mt4 broker

i trade live using ig index spreadbetting

ive sent you PM

thanks buddy

yes i think it will be bullish and sting me,,,but that will teach me to not look thorough in the charts,,,still i got out for break even

as for your system,,,if you can add anything more to clives method then please share with us all

DT

Keeps eyes on GBPNZD

looking nice at the moment

You're welcome Jason, and glad to hear that you closed @ BE .

Check out the MADdash thread for our MTF Multi Currency Group dashboard, in case you find it useful in selecting the best pair(s) to trade. The latest indicator is here and you can read posts 1 to 4 on how to use the indicator.




Green pips to you

Shalom

Wow George that looks like a lot of work gone into that indicator, great work..

I'll drop by and have a look sometime but bit busy at the moment trying to get my new "No Fear Trading System" working...

First day today and got myself into all sorts of pickles but early days and I still believe its the way forward. I basically use my 1 min trading/entry skills to enter but the idea is that the cycles identify the better places for me to start trading from. Very simply I want to be trading my 1 minute from the 5 and 15 min extremes..As identified by our TMA indicator...

Now I'm just gonna go over the strategy again here and its more for myself than anyone else as I found myself getting into a right mucking fuddle today..

Heres a nice little 400 plus pip move on EURCAD today as a perfect example of what we're looking for



Now can you see how the 15 min TMA (yellow dots) keeps the other two TMAs contained so they never come outside, The 5 min TMA (white dots) also keeps the 1 min TMA contained too. This means we can identify some of the best places to enter on our 1 min chart to get maximium runs.

have a look at the same chart paned out a bit more to show this a little clearer..

Look how the 1 minute moves up anmd down and across from one side of the 5 minute channel to the otherside of the 5 min channel effectively bouncing off of its walls. The 5 min does exactly the same on the 15 min channel and if you wanted to take this up another timeframe you would see the 15 min bouncing off of the 1 hour channels walls.



Now how can we take advantage of this interesting phenomenon, have a look at the three signals I've marked , the middle one is what I would call our standard entry off of the 1 minute channel where we wait for our middle band to turn up or green then wait for a pullback, identify the pullback by putting a pullback trendline on it. Notice how the CCI is also signaling nicely and leading you into the trades.. Now you want that pullback to bring price over as close to the lower band as possible even touching it as this is the best place to enter the trend from, the extreme of the 1 min chart. Place a pending order across the first green cndle and away you go... same as ever.

Now notice the other two entries I've marked they are not only at the lower band of the 1 minute channel but also at the lower band of the 5 min chart too. These are the best signals where two or more channels meet up, look at the power of the move.. This happens because not only are 1 minute traders backing this trade but we also have the 5 minute boys covering our backs.

Now the trades look great when two channels line up but what about when all 3 line up??



Heres a perfect example and a 80 plus pip winner as you entered on the 15 min lower band exit on the 15 min upper band. Use the normal one minute entry as described above for all entries so make sure the one minute centre band is the right colour for the direction of your trade, green for up . red for down. This is very important to wait for the 1 minute to start trending your way and even better if the 5 min is moving the same way. In our example all three are trending the right way but I'm not sure thats not the repainting issue and at the time of the first entry I would not expect the 15 min channel to be pointing up.

Just a note here about the repainting issue with the TMAs, absolutely no doubt they repaint so you won't see the signals as clearly as they are now. At the time they may look very different but the 3 bands will be together just not agreeing. Thats why its very important to not just enter and assume uts going to go your way. wait for the 1 min to react positively and even the 5 min before following the reversal..

So thats what I'm after from now on but its not easy and I found myself struggling to have the patience to wait for the perfect setups but early days and I think it will be worth the wait if I can pull it off on a regular basis.

So how do we go about finding these trades and identifying which pairs to trade.

Well lets run through the rules.

 

1. All three channels should be going the same way. Well at least two the 5 min and 1 min channels must be going the same way and even better if the 15 min drops into line too. Beware that repainting issues will change the look of your setup up to 10 minutes later.
2. Wait for at least the 1 min trend to agree with the new trend / reversal you're trading if possible wait for the 5 minute to join the 1 min so both going the same way.
3. Enter as described above making sure the pullback comes back to as close as possible to the lower band, don't take signals between the upper band and the middle, wait for the deeper pullback to the lower band.
4. Take profit on the opposite band of the 1 min if a 1 min signal or the highest channel that was there so if just the 1 and 5 min channels then exit on 5 min higher band if the 15 min was also present use the 15 min.
5. I'll leave you with a choice on exits either just exit as above for the whole size or bank half and hold the other half until the 1 min trend ends signafied by a change of the middle band or if you're feeling brave hold until the 5 min trend ends or even better the 15 min ends. your choice you choose.

Remember like todays EURCAD the best trades will come when all 3 channels are trending the same way...

Well thats about it, sounds easy enough here but not quite so easy in practice as patience has never been one of my virtues.. Mind you I could always keep myself amused by scalping any of the 1 minute moves just after a colour change as the best time to enter and take profit at the 1 minute opposite band..

I'm also using an alert on the TMA indy that alerts me when an outer band has been broken on say the 5 min TMA so then I can have a look to see if its a signal I'm interested in rather than sit there watching all day for nothing. Meanwhile I'll have some fun scalping the strongest trending 1 min charts.

Well thats it guys lets see how I get on tomoz, wish me luck...

Hi iak

Heres my current settings for my 5 min TMA the other two are the same apart from the alerts. I just have alerts on the 5 min outer bands being pierced..



I use 20 for the tma period but sometimes use 14 , might tweak the settings going forward to tune into a pairs moves better for instance GBPNZD is a bit of a wild horse so might change to suit it. Just tweak settings until the TMA fits the moves better...

Good luck let me know how you get on...

Hey Clive,

Thanks to you and this thread, as this was where I met Andrew and noticed his willingness to share his coding expertise; so I approached him as I did others and he was the only one that responded and took a look @ my novel idea for building a Moving Average Distance CSM, and the name is his idea too. His work is a masterpiece graphic work of art. Anyway, chime in any time, and pick one or two things from there as I pick from here too and let us make some consistent pips and become the independent trader we always dream of.

Watching you and the thread, and will be trading my own variation of the "No Fear Trading System" too

Shalom

Lets see what happens from here...

Looks like that rubber band snapped. Good eye. Thanks for posting that.

Fantastic work, congrats, I just saw this. Will try it out. Thanks.