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Trading is as simple as ABCD

  • #9,601
  • Nov 28, 2015 3:28am Nov 28, 2015 3:28am
Quoting braveh4rt
i learn alot from this thread with the lwma and cci and others , while from 1st page and jumping around and at most now using CCI as trend pullback entries. i like to share my chart here First trade from london session and closed. {image} second chart still running trade. {image} entries when 8 CCI cross 0, or better when cross 100 /-100 . I see also 8 CCI as trend pullback confirmation from others thread in http://www.forexfactory.com/showthread.php?t=280673 which using CCI also.
nice trades. but I am wondering what is your MM strategy? you place 3 orders right after London open, all these 3 trades could fail, how do you deal with this case?
  • #9,602
  • Nov 28, 2015 5:05am Nov 28, 2015 5:05am
Quoting henryloving
{quote} nice trades. but I am wondering what is your MM strategy? you place 3 orders right after London open, all these 3 trades could fail, how do you deal with this case?
The SL is 40 pips on my trade there. on 1M chart not showed right, bcoz to big movement 40 pips in 1 m, and if that happend SL will hit. but do adjust according your equity. SL sometimes got hunted and make more cost if to tight. thats my opinion. you also can put SL on prev high above the LWMA 75 i think.

if fail, then consider it as the risk of business. no risk no gain. Big risk sure big gain. hard to avoid loss in this business.

let say the second trade, i got ++ before the trend changes and i not watch the trade. i cut loss and see the opposite signal to buy. better cut loss and go on.

I have heard "don't get married with your trade" . or "Cut your loss short and run your profit longer" .
Look for it and you will find it
  • #9,603
  • Nov 28, 2015 5:10am Nov 28, 2015 5:10am
Quoting devontrader
just posting 2 charts for comparing,,interested in your opinion braveh4rt and all {image} {image}
Its the same right ?

the price continue go up.. if not close could got some more pips.

in 15TF it is a retrace within a down trend.
Look for it and you will find it
  • #9,604
  • Nov 28, 2015 6:36am Nov 28, 2015 6:36am
Quoting braveh4rt
{quote} Its the same right ? the price continue go up.. if not close could got some more pips. in 15TF it is a retrace within a down trend.
yes its sameButTell.me is the entry better on my chart and the lwma lines more accurate?
  • #9,605
  • Nov 28, 2015 11:47pm Nov 28, 2015 11:47pm
Quoting bapakjason
{quote} I know a guy who started with $200 and turned forex trading into a full time career. Make sure the broker you choose allows you to trade exactly the way you demo. Be patient. Even 1-2% a day will compound. Believe in yourself and your dream. All things are possible.
thank you for encouraging me hope you will get your 1st million soon.
  • #9,606
  • Nov 30, 2015 6:11am Nov 30, 2015 6:11am
Quoting braveh4rt
{quote} The SL is 40 pips on my trade there. on 1M chart not showed right, bcoz to big movement 40 pips in 1 m, and if that happend SL will hit. but do adjust according your equity. SL sometimes got hunted and make more cost if to tight. thats my opinion. you also can put SL on prev high above the LWMA 75 i think. if fail, then consider it as the risk of business. no risk no gain. Big risk sure big gain. hard to avoid loss in this business. let say the second trade, i got ++ before the trend changes and i not watch the trade. i cut loss and see...
Thanks， if SL is hit, how much percentage of your capital will you lose?
  • #9,607
  • Nov 30, 2015 7:37am Nov 30, 2015 7:37am
http://www.forexfactory.com/showthread.php?t=321529
  • #9,608
  • Dec 2, 2015 8:20am Dec 2, 2015 8:20am
Here is a loss this morning. It is a decent set up, until I look at the H1 chart and see support 3 days ago....
Attached Image (click to enlarge)
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #9,609
  • Dec 2, 2015 8:49am Dec 2, 2015 8:49am
And the follow up....argh.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM1.png Size: 43 KB
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #9,610
  • Dec 2, 2015 8:55am Dec 2, 2015 8:55am
Quoting capstone
And the follow up....argh. {image}
It happens.
But the important is that the negative number is now a nice positive.
Well done!
  • #9,611
  • Dec 2, 2015 1:48pm Dec 2, 2015 1:48pm
Here's a late day, better trade. Still my way, but "life" is calling...
Attached Image (click to enlarge)
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #9,612
  • Dec 2, 2015 3:55pm Dec 2, 2015 3:55pm
Quoting capstone
And the follow up....argh. {image}
Hi Cappers

When I look at your chart I see 5 entries 4 winners and 1 loser and which one did you have the misfortune to take????

Thats just not fair Mr forex stop playing games with hardworking traders like us.....

I think the message is we have to take them all and then we have an edge whereas one here and there is strangely riskier....

Bad luck Cappers.....
Feel the Fear and do it anyway!!!
  • #9,613
  • Dec 2, 2015 3:56pm Dec 2, 2015 3:56pm
Quoting capstone
Here's a late day, better trade. Still my way, but "life" is calling... {image}
Another great chart and 4 more winners....and this time you caught one, nice....
Feel the Fear and do it anyway!!!
  • #9,614
  • Dec 2, 2015 4:07pm Dec 2, 2015 4:07pm
Hi clivepackham, you have a stop / take profit recommended ?, thanks.
  • #9,615
  • Dec 2, 2015 5:11pm Dec 2, 2015 5:11pm
Quoting Peluq
Hi clivepackham, you have a stop / take profit recommended ?, thanks.
I tend to drop a 20 pip emergency stop on my chart and then if trade turns against me close it out for around 10 pips less if possible.. As for exits thats the age old question with no right answer. I just watch the trade and pick out the next support/resistance in its way or if it falters then close it out, definately a suck and see scenario for me..

First thing in the morning you can get some burst of energy and get 20 , 30 or more pips but after the initial rush then its around the 10 mark...

Sorry theres no one fits all answer to that one...

Meant to say it helps to trade in direction of the strongest 5 min moves then there every chance you're get more pips...
Feel the Fear and do it anyway!!!
  • #9,616
  • Dec 2, 2015 11:12pm Dec 2, 2015 11:12pm
Quoting clivepackham
{quote} I tend to drop a 20 pip emergency stop on my chart and then if trade turns against me close it out for around 10 pips less if possible.. As for exits thats the age old question with no right answer. I just watch the trade and pick out the next support/resistance in its way or if it falters then close it out, definately a suck and see scenario for me.. First thing in the morning you can get some burst of energy and get 20 , 30 or more pips but after the initial rush then its around the 10 mark... Sorry theres no one fits all answer to that...
Hi Clive :-) hope you are well. Without wishing to make it too personal or privacy invading, would you be able to give the thread a brief comment on how things are going for you using the approach, given (assuming) you have been quite focused lately and no doubt therefore have been through quite a few trades in recent weeks? any general comments on recent experience gained that might be useful to those of us attempting to trace your footsteps? Hope its all good for you - much deserved....cheers...Paul.
  • #9,617
  • Dec 3, 2015 5:40am Dec 3, 2015 5:40am
Quoting Paulnz57
{quote} Hi Clive :-) hope you are well. Without wishing to make it too personal or privacy invading, would you be able to give the thread a brief comment on how things are going for you using the approach, given (assuming) you have been quite focused lately and no doubt therefore have been through quite a few trades in recent weeks? any general comments on recent experience gained that might be useful to those of us attempting to trace your footsteps? Hope its all good for you - much deserved....cheers...Paul.
Hi Paul

Good question and how I would love to come on here and say I'm earning a fortune with my trading but unfortunately thats not the case...I'm holding my own but not making a fortune I'm afraid.

Two reasons for that, one is that I have started a new business and have to dedicate the majority of my time to that so my trading is taking a back seat.

And secondly I've got myself into two minds with my trading, I'm in constant contact with a couple of awesome traders that have opposite trading styles but both are phenomenally successful averaging a 100 pips a day every day almost without fail.

The trouble is one is a reversal specialist just trading with the immediate trend and the other a staunch trend follower never wavering from his system, now I find myself trying to emulate them both and end up in a right mess ...doing neither very well..

The thing that I've realised from trading is its not the strategy so much as the trader, one of my colleagues switches systems more often than I change my socks but still makes the pips everyday..Its all about about discipline...

Sorry its not the news you'd like to hear I'm sure, but don't worry the journeys not over yet as I'm just as determined as ever to make this work one way or another , I know exactly what I have to do , just need the discipline to do it on a regular basis day in day out...

So I've decided to go back to what I know best my simple trading with the strongest trending pairs and intend to make a clean start next year and go for my Millionaire challenge. I'll be looking to make just 20 pips per day profit trading the London open finishing by 10 o clock every day and getting on with the day job...

This time next year I'll be a Millionaire....
Feel the Fear and do it anyway!!!
  • #9,618
  • Dec 3, 2015 5:41am Dec 3, 2015 5:41am
Quoting clivepackham
{quote} Another great chart and 4 more winners....and this time you caught one, nice....
Your correct Clive. There were four more winners on this chart, but the TT did not bring it up until the final trade was available. This is my biggest concern with it and why I'm still unsure about using it.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #9,619
  • Dec 3, 2015 5:58am Dec 3, 2015 5:58am
Hi Paulnz57

To give you my 2c worth.

All I am trading at the moment is Clives system and 5 min HL/LH's. I have made one or two tweaks to Clives rules. First any 200 pullback is fine with me (see red line on gbpaud -186 to +86 a 272 move on cci scale) PROVIDED there is weakness/strength generally. Here gbp had 5 of 8 weak.

If you have been hit and miss with this method then I would strongly suggest you try looking for more than a pair in top 4 of TT. Whether it be like in this case gbp is weak with 5 or as an example it could be say aud weak/strong.

Some focus on eurusd, then look for either eur or usd to be strong weak across the board. Personally lately I find myself gravitating to my current fave pair gbpaud. Whatever you do have the patience to sit aside if your rules are not complying.

Last point on the same issue. So many of the perfect charts posted have been because a pair was near top of TT and also there was in the background (but rarely mentioned) general strength/weakness. Do yourself a big favour, try waiting for that to be readily apparent before trading.

Don't worry about the trades missed, focus on the solid trades available almost every day.
Attached Image (click to enlarge)
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  • #9,620
  • Dec 3, 2015 6:05am Dec 3, 2015 6:05am
Quoting clivepackham
{quote} a couple of awesome traders that have opposite trading styles but both are phenomenally successful averaging a 100 pips a day every day almost without fail. The trouble is one is a reversal specialist just trading with the immediate trend and the other a staunch trend follower never wavering from his system, now I find myself trying to emulate them both and end up in a right mess ...doing neither very well.. The thing that I've realised from trading is its not the strategy so much as the trader, one of my colleagues...
indeed Clive, there are many many many profitable systems ranging from 1min to weekly charts. We only need one set up that works and the discipline to trade only that. 20pips a day can be done, is being done, and will keep being done by thousands of retail traders each day! Great points you made there Clive.
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