Trading is as simple as ABCD

midnightrun your last part was almost right......when cci is above 100 clive looks for the next cci bar to be below 100 which would then be his entry.

Hi Bazylisheq

I would take that one although it would of only just got my 2 pips below sell stop. But the good news is it would be fine with a 10 pip stop then hold until the next one takes you to profit ....

but even if it was a loser I think you can see that there are plenty of opportunities to put it right with the following signals.. You will have losers with this system but the idea is that trading with the 5 minute strongest trenders your down runs should be bigger than your 10 pip losers...

For instance the trade survives the 10 pip stop then goes on about 30 pips, how much you would of got of that is unknown but hopefully at least 20 so maintaining a 1:2 RR...

Hi Clive

The entry part of the method I understand (although I tend to still forget pertinent rules). It is the take profit I stuggle with. I know you tend to watch price action closely when you are in a trade (example...if price starts to stall, or if you are near key levels, etc). To get 20 or 30 pips, price will usually slow before the next big burst. I hate the idea of getting out of a trade just because it doesn't shoot up 30 pips in 2 bars. This is what I struggle with.

Peter

Hi Midnightrun, hows your trading going??

You're quite right I do enter on the first short candle after it gone over the 100 level, but it also has to be the same colour as the direction you want to go so in this instance, a red candle.. Quite often the CCI signals down when we still have green candles going up as in quite a few of these entries , thats why we wait for confirmation of the CCI signal with a red candle in direction of the trend.

Thats one thing that I love about these CCI signals, 7 times out of 10 they will turn down before price so giving you plenty of chance to prepare to enter. Contrary to popular belief the CCI is one indicator that will lead price action, turning down before price does....

When you see it going over the zero line before I enter its just because I've waited for the signal candle plus 2 pips, which often takes me in another couple of candles later so it can appear I'm entering as price crosses the zero but its a coincidence nothing more. I've started looking for my entry as you say when the first shorter CCI candle appears..

My signal candle is as you stated once CCI goes over 100 level I'm looking for next shorter CCI candle no matter where it is, it can be above the 100 level . below it or sometimes across the other side of zero line...

The normal signal is either cross of the 100 or cross of the zero line but as we're trading strong trenders as soon as momentum up wains I want in quickly to maximise pips from run and get to BE as quickly as I can, just in case it comes back at me....

Entry is so important in this system as a tight entry will give you a few more pips if it goes onto win and a quick move to BE in case it doesn't...

lastly I want to say I am considering some safer entries waiting for the CCI to cross the zero line , so if thats your preference no problem but you will have smaller winners and a larger stop loss too...

Nice to see you again clive

How has your trading day been today? Like I posted already today was rather difficult...

Hi Peter

It is very easy especially with hind sight , never seem to get it wrong looking back...if only someone could design a "Hindsight" indicator???

But what you have to do is have rules that you build looking back at charts and seeing the conditions that prevail at the time of a good CCI signal..If I was to try and put some hard rules down for this system they would be something like this,,,,

 

1. Right time of day, market opens and first 4 hours after..
2. Strong trender on 5 minute chart(top 4 on 5min TTindy) so slope of the 35lwma on 5 min chart or 175 on our 1 minute chart, is sloping steeply...
3. When 35lwma changes slope back with the 5 minute trend then take first 2 CCI signals only. Sometimes if its really trending strongly on 5 min then I will take an entry as price candle closes across the 35lwma. 2 pips below the candle that closes across 35lwma.
4. Wait for the CCI signals to go overbought or sold then enter as described many times before and move to BE within 3 to 5 mins as good signals just go. If it hasn't gone after a couple of minutes just concentrate on getting out for as few a pip loss as possible..I usually do this by moving to BE even if I'm just 1 pip up so it either goes or gets me out for nowt..
   Then just wait for next setup..
5. Exit when you think its exhausted, not easy but to start with just take 10 pips everytime or if it starts to falter before that just bank it whatever the profit. Most trades will move quickly to the last low or high so look there to close out as it will often turn back there.. Don't worry about leaving a few pips on the table theres plenty of more opportunities coming along so grab some profit from every entry and wait for the next setup..
   
   Sometimes especially around the actual open, the price will leap up the page say 30 to 40 pips, these are absolute bonuses and must be grabbed as quickly as possible before your fellow traders do leaving you with a break even as price rushes back down from all the rapid banking.
6. Another exit that I'm contemplating is taking half when I think its faltering then move the stop to that amount and leave other half to run until 35lwma changes colour again eg trend ends. For example if I banked half at 10 pips then I would leave the stop at 10 pips , this gives the runner trade a chance to survive the entry retest and get to the 35lwma slope change. If it does come back at you and takes your stop you have a net break even with no loss.. I would only do this when trading a strong trender like GBPCAD today...

Good luck and wait for your setups you only need two or three successful trades to get your 20 pip daily target and before you know it you will be a millionaire....

Just thought i would do 2 posts on the AUDUSD

please forgive me using two different systems in pictures,,,,im not comparing either to see which is best

purely trying to show a few points

first clives method

in the picture,,,,altho it is daily chart to show a clear image
as price pulls back take your entry
if you enter short at the top with clives entry method price comes down,,,price responds well to murraymaths lines as you can see,,,,which is a good visual to watch for reaction of possible pullback
As price pulls back we see the larger LWMA is still bearish,,,soooo stay short,,,add to your position !!
As you can see its carried on like this all the way down and currently pulled back ready to go again,,,weve had lower highs all the way down

using murraymaths could be a help.

always look for things that can compliment your chart and give you confirmation without cluttering it

Here is 2nd chart again AudUsd

im on H4 chart with inner envelope as daily and outer as weekly,,again bigger timeframe for ease of showing the picture

as you can see circled there are multiple touches to murraymaths levels which gives me clues to where price may react.
my inner envelope eg daily is bearish,,,confirmed by centreline and slope indicator. so i dont want to enter long
my rsi is oversold so i know it will reverse in a pull back shortly

having different tools,,,indicators,,,,clues helps you peice together clues to what is going on.

you have your master templates but dont be afraid of making a copy and trying a few things,,,

Guys just to let you know, I think D/T is making a vey good attempt at understanding Murrey and is showing good ideas but I am not prepared to endorse any of is views good or bad , what I have decided after reviewing a few posts is to float my boat of to the land of milk and honey on my own, so with that I wish you and Clive all the best in your search for success in the forex world

send me email dave.... [email protected]

Thanks Dave, best wishes, sorry you and your experience are not going to be around here - enjoy the land of milk and honey and hope to see you there one day, after I have crossed through the badlands of stupid trading decisions and mistakes :-)

Hey Clive,
Going well here. Today I got in a bit early after LO and had a loss. I forgot to be a more patient today because of the big drop yesterday!! Took me a couple trades to recover.
Looks like I'll come out ok. Here the last trade on 1min TF with CCI 14 pullback, price below 100LWMA. About 1hr after news pushed eurusd back down. Think I will call it a day. -Jason



ok, i lied. i didn't call it a day. i couldn't resist this 1st CCI 14 pullback as momentum shifted once again on eurusd and price had a good move above the 100LWMA.
so this chart has both of my last trades for the day. 1 sell, 1 buy, same pair. looks like total time in 1st trade was 3min and total time in 2nd trade about 1min. Fast in, Fast out.

@devontrader also.

by the way guys, here's a couple Murrey Math indi's I picked up a few months ago. they were distributed free. one incorporates it into the candles, and one uses a sub-window. maybe you would like them:

TOP4 5m TTindy, through 1m LWMA

​

at least 5 good signals today on eurusd as it continued to correct. i was busy, just got this one. i'm ok for the week.
re-test of 1.1025. 1)price above 100LWMA 2) CCI 14 pullback 3) significant level
time in trade 1min 9seconds, fast in-fast out.

Hi guys, two trades during the entire week, due to a lot of business issues.

Two trades yesterday:

Second - 1 pips plus, first below.

Entry: pair chosen not from TTIndy (as it was too late in aday) but from a strongest-weakest dashboard, entry on M1, proper CCI signal, price bounced from support and CHF was the strongest and JPY the weakets pair.

Trade management: trade left unatended, normally I would close it manually sooner.

Exit: TP.

Result: 19.6 pips.

Conclusion: maybe trading using this board to choose proper pair is a good idea, especially if we dont have time to trade during best trading time. Next week I will try to test it, I expect to have even less time.

The second trade, result = 1.6 pips plus.

DMMFX going down the pan??

clive you championed this broker etc can you update everyone ?

D/T please do not start this nonsense again, please delete the post

dave genuinely im not

i got an email saying there was issues

ive done research and seems people are commenting on financial reasons

i know clive championed them so thought that he would probably know whats going on

genuinely a genuine question not anything else