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Trading is as simple as ABCD

  • #9,621
  • Dec 3, 2015 6:11am Dec 3, 2015 6:11am
Same chart now, when the trades happened the TT indi would have shown a lot different than it does now. OK so how do you pick a trade without the benefit of using TT at all.

Using the red lines same time on all charts. Which pairs look cleanest AB move? Which pairs have angle and separation on ma's?

At the time 13.17 fair to say that eurnzd and eurjpy would get knocked out, ma's a mess. So that leaves ga, gn gj and ea. The common factor is GBP (ga, gn, gj) and AUD (ea). So all other things being equal most likely candidate for a trade would be GA.
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  • #9,622
  • Dec 3, 2015 6:12am Dec 3, 2015 6:12am
Quoting Vantage
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....
If I were trading multiple pairs, I would do exactly what Mr V recommends here with the TTindi or MADash indi. Trade one 'family' grouping that is strong/weak during the session. But you still need to know your pair being traded. Pairs are like languages, some are mutually intelligible but still have their own characteristics. This matters a lot with SL and TP settings.
I'm looking forward to hearing how many people double accounts during the first couple months of 2016! New year with lots of opportunities.
  • #9,623
  • Dec 3, 2015 6:26am Dec 3, 2015 6:26am
Quoting Vantage
Same chart now, when the trades happened the TT indi would have shown a lot different than it does now. OK so how do you pick a trade without the benefit of using TT at all.
Just realised I had better clarify. Not suggesting ditch TT at all. But when most trades are posted TT looks completely different to when entry was taken. So you do need to look at charts without benefit of TT.

Having said that in this case gbp did feature heavily when trade taken and a simple visual of en and ej's ma's which were pretty flat and the nice slope down on GBP ma's would confirm that.
  • #9,624
  • Edited 11:34am Dec 3, 2015 7:03am | Edited 11:34am
Well got m +20.7 in the bank
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  • #9,625
  • Dec 3, 2015 7:15am Dec 3, 2015 7:15am
Quoting capstone
Here's a late day, better trade. Still my way, but "life" is calling... {image}
Dear capstone
Will you be so kind to tell me
what kind of MA you use in your templates.

Thank you very much
Dan
  • #9,626
  • Dec 3, 2015 7:40am Dec 3, 2015 7:40am
Quoting dansmol
{quote} Dear capstone Will you be so kind to tell me what kind of MA you use in your templates. Thank you very much Dan
The MA in color indi set at 175 LWMA and a 100 LWMA from the MT4 platform.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #9,627
  • Dec 3, 2015 7:53am Dec 3, 2015 7:53am
Quoting capstone
{quote} The MA in color indi set at 175 LWMA and a 100 LWMA from the MT4 platform.
THANK YOU VERY MUCH
ALL THE BEST
Dan
  • #9,628
  • Dec 3, 2015 9:14am Dec 3, 2015 9:14am
What is the best broker to trade this awesome system Live?
i use octafx for demo but i don't trust it.
  • #9,629
  • Dec 3, 2015 2:29pm Dec 3, 2015 2:29pm
.
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  • #9,630
  • Dec 3, 2015 2:57pm Dec 3, 2015 2:57pm
Quoting clivepackham
{quote} 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...
Hi Clive, thanks a bunch for giving some feedback. What you say reminds me of my experience back around 07 when I was trading with a friend and mentor in Australia. He too was averaging over 100 pips a day(we also favoured reversal trading then on the assumption we were in synch with general market behaviour of consolidation versus trend action). Some days he achieved significantly more when conditions were right, however I was having none of that success, basically churning my account. My mentor was constantly developing and tweaking his approach and (in an effort to help me cross the line) sharing all the changes and ideas which I readily adopted. The issue for me was that the changes didn't come from my proper study and backtest of the system, which in retrospect, meant several debilitating factors were hampering my progress. For example I didn't fully understand the system, I didn't have absolute faith in the signals, I often missed vital signs that promoted or detracted from taking certain trades, my execution was haphazard (its amazing how easy it is to cherry pick a string of losers and ignore good trades lol).

On top of all this (and despite trading with a reasonably healthy account size of 26k at the time) I was trading with 'frightened money' syndrome - couldn't afford to lose/desperately needed success. Any new person reading this - do not underestimate the importance of this issue and as a side note, if anyone's thinking - if Clives' system were any good why doesn't he just throw all his energies at the trading and forget about other business ventures distracting him? for your own good understand that being able to risk capital in trading without any fear of loss is incredibly important for success. It has had me wondering if any experienced successful traders that come here have actually managed to grow an account starting from a position of financial weakness? if you have, it would be amazing to hear your experience and how you managed to overcome the mental challenges that brings to each trade.

Absolutely no need for apologies or feeling the update lacks encouragement Clive, as far as I can see, you completely recognise your own personal trading issues, you have a plan and you are taking sensible steps business-wise, to consolidate your future trading success. Its all good stuff, I hope other lesser experienced folk reading your reply understand that and don't dismiss all the fantastic information and opportunity that is here for them just because you aren't yet a gazillionaire using the approach :-). Oh and I think you have misquoted, doesn't it go...."This time next year Rodney....we'll all be millionaires" ....probably my favourite comedy series of all time and as aspiring traders there's gotta be a bit of Delboy in all of us eh? lol.
  • #9,631
  • Dec 3, 2015 3:27pm Dec 3, 2015 3:27pm
Quoting Vantage
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....
G'day Vantage :-) very grateful to have your 2 cents worth. I have been checking out my currency strength meter for clues, but have also noted how quickly the readings can change, so your tip in subsequent post regarding the red lines or MA's relative position is great. Its quite easy to see that MA separation and zoom into trade opportunities in hindsight with the chart history fully visible, but as a tip for other new traders - be sure to review the charts bar by bar from the hard right edge to train the eye for what its looking for without the benefit of the visual full expanse of a trend taking place. Thanks again Vantage for the pointers and posts :-).

@ Jason - thanks also for your reinforcement of the message, your trading has been an inspiration :-)

Cheers all...Paul.
  • #9,632
  • Dec 3, 2015 6:29pm Dec 3, 2015 6:29pm
Quoting devontrader
. {image}
Well D/T credit were credit is due, well done and good trading, me well a little red faced with my pitiful 20.7 pips, must admit that was my target, so once that was in the bank never tried for any more. I am going to make a few guys happy now as I am out of here , following this 1 min stuff is just costing me to much time and money, to be fair its me that's broke all the thread rules posting charts that are bigger timeframes than 1 min and of course my Murrey, but I followed the thread from day one hoping that I could master it, but alas like Clive found it very difficult, ( even knowing and also being mentored by one of Clive,s trading buddies, who as now got the hump with me for giving up on 1 min) the problem that I see is that I want to make money in a easy and stress free way as possible, 1 minute just does not do it for me, and I like to think I am capable of not burying my head in the sand trying to be the greatest 1 min trading guru the world as ever seen ( I know the guy who I would give that title to) I can and do make 5/10 pips etc off 15, 60 240 mins or even Daily charts most days, I just need to look at bigger timeframes to feel that I have an edge, if I could only have one thing to trade with, it would have to be range , its been the best and biggest range day for a while but how many 1 min guys have posted charts showing a few winning trades. Could go on but hey no one would be interested and properly glad to see the back of me, so just finish by thanking Clive and wising him well and you (be a little more humble more guys would warm to you then) and many of the good guys I have learnt so much from, many green pips in the future. For me there is more ways and easier options than 1 min to make money from this game and its just not fair to you all if I keep posting bigger timeframe charts.
ps for the guys who have PM me please stop as I will no longer reply but wish you all well
  • #9,633
  • Dec 3, 2015 9:14pm Dec 3, 2015 9:14pm
Quoting OAPDave
{quote} Well D/T credit were credit is due, well done and good trading, me well a little red faced with my pitiful 20.7 pips, must admit that was my target, so once that was in the bank never tried for any more. I am going to make a few guys happy now as I am out of here , following this 1 min stuff is just costing me to much time and money, to be fair its me that's broke all the thread rules posting charts that are bigger timeframes than 1 min and of course my Murrey, but I followed the thread from day one hoping that I could master it, but alas...
Hey Dave, can't get my head around the idea that one particular timeframe is better than another, as far as I can tell the human condition means that various methods and timeframes work for different folks and if a person can find their own personal edge and can deliver that consistently and make long term profits - well that's all there is to say isn't it? If you make 5-10 pips a go and are in profit every week, then you are a better trader than the vast majority and I admire any person who has made that happen, for that achievement. No point banging your head against the wall if an experiment isn't working and you know your tried and tested method works. You may not feel comfortable posting murray math and longer tf charts in here any more but even if I passed over some of your posts/charts because I felt my best system fit was something else, I still feel traders like you who have conquered all the other challenges in the head that have to be overcome to reach consistent profit still have much wisdom to pass on and lessons to teach. Respect to you sir, whatever you do next....regards...Paul. :-)
  • #9,634
  • Dec 3, 2015 9:45pm Dec 3, 2015 9:45pm
Quoting Paulnz57
{quote} Hi Clive, thanks a bunch for giving some feedback. What you say reminds me of my experience back a if Clives' system were any good why doesn't he just throw all his energies at the trading and forget about other business ventures distracting him? for your own good understand that being able to risk capital in trading without any fear of loss is incredibly important for success. It has had me wondering if any experienced successful traders that come here have actually managed to grow an account starting from a position of financial weakness?...
Excellent post Paul.
Strategies for emotions, daily goals, money management, etc, become more important than an actual system that works. One of the guys I have learned a lot from suggests forex is a great way to help start other businesses which will generate a passive income . . .
Another one of the guys I've learned a lot from has said that after 15 years of paying bills with forex, he is really focusing on an online business that is less stressful . . . Good food for thought.
  • #9,635
  • Dec 4, 2015 2:01am Dec 4, 2015 2:01am
Quoting devontrader
. {image}
Hi!! Very well done. With what risk was that? I see 0.1 Lots on 200. Would be the same risk like 5 lots on a 10k account. Possible but nothing for weak nerves, haha!

Good job!
  • #9,636
  • Dec 4, 2015 2:36am Dec 4, 2015 2:36am
Hello Traders.

I read the last few posts and also wanted to add my five cents.

I totally agree with the fact that - in my opinion - success in trading is in over 90% of the cases up to the Trader. I trade for many many years,
I have seen things you won't believe. I saw Traders trading the same system, one guy made 100% per month and the other one blew his account.
So, what was wrong? Easy, the trade management and the skills. While the first one was a hardcore Scalper and took the money when it was there,
the other one was dreaming of big pips and held the positions.
I personally think the 1 minute chart is the one of the best charts I ever traded. But of course, it doesn't fit each personality. Some guys just need
a bigger timeframe and bigger stops. Well, nobody here is honestly telling me they trade with a 10-20 pip sl on a daily chart and on GBPNZD. I like
to trade with high lots, just waiting like a Predator for the right moment and then I grab my few pips and several hundreds of dollars. Doing that a
few times per day, with BIG patience and no rush.

I am happy for those who make "easy and without problem" hundreds of pips per day, after all my trading experience I actually doubt that. I know that
reversal trading is very profitable but I also know that most reversal traders trade without stop loss. And in a trending market they get killed.

For those who gave up on the 1 minute chart. I hope you will find a better timeframe and success with it. I don't wanna teach here anything but also
keep in mind that none of us can foresee the future. As bigger your target are as longer your money is at risk.

I prefer to be invested for some seconds or minutes and have my profit on the account instead of dreaming and praying for the market to move to my
500 pip take profit.

No offense to anyone, success to everybody, just my opinion.

I joined this thread about one month ago, knowing NOTHING about Clives system. Since last week I am already very profitable with it and I reach almost
every day my $500 target. Soon will step by step increase my Lots according to my trading plan. I offered twice already to my a Skype chat group for
interested Traders to text each other when setup occur, not a single one was interested. I thought OK, maybe they know better and make the big money
and don't wanna communicate with Clives System Rookies (lol). No I have to read here one funeral post after the other saying that they have a hard time
and so on. I just closed my last trade for today and another $670 in my account, brings me to $2'840 this week.

"Dear Optimist, Pessimist and Realist! While you guys were busy arguing about the possible trade setups and different timeframes, I took the trade! Sincerely, The Opportunist"
  • #9,637
  • Dec 4, 2015 3:09am Dec 4, 2015 3:09am
Hi Mark

Must have missed it before. Clive did open a skype thing but it was very disappointing. With the greatest of respect to those that were in it but half the time many were talking about other systems. I remember the one time saying we have a good AB move setting up and the reply was to hold my horses we don't all trade 1 min. WTF we're in a chat room set up by Clive for this system!!!

OK what you are talking about is beyond my current skill set and you're never to old to learn (ok thats crap I tried to learn coding - I'm too old to learn) so as long as we stick to the point happy to join you in a skype room. Have you one set up?
  • #9,638
  • Dec 4, 2015 3:19am Dec 4, 2015 3:19am
Quoting Vantage
Hi Mark Must have missed it before. Clive did open a skype thing but it was very disappointing. With the greatest of respect to those that were in it but half the time many were talking about other systems. I remember the one time saying we have a good AB move setting up and the reply was to hold my horses we don't all trade 1 min. WTF we're in a chat room set up by Clive for this system!!! OK what you are talking about is beyond my current skill set and you're never to old to learn (ok thats crap I tried to learn coding - I'm too old to learn)...
Hi Vantage. Oh wow, didn't now there has been a skype group chat before, must have really missed that. Yes, can imagine that it didn't work out too good if
everyone gives its nonsense from other systems into the chat. Best is if all are on the same page.

Btw, I also tried to learn coding but gave up after 5 min.!

I don't have one set up but thats a quickly done. Important would be that only Traders join who only trade Clives System. I am pretty sure it works
without tons of other indicators. (Sorry to disappoint the Indicator lovers here)
  • #9,639
  • Dec 4, 2015 3:33am Dec 4, 2015 3:33am
Quoting MarkFX77
{quote} Hi Vantage. Oh wow, didn't now there has been a skype group chat before, must have really missed that. Yes, can imagine that it didn't work out too good if everyone gives its nonsense from other systems into the chat. Best is if all are on the same page. Btw, I also tried to learn coding but gave up after 5 min.! I don't have one set up but thats a quickly done. Important would be that only Traders join who only trade Clives System. I am pretty sure it works without tons of other indicators. (Sorry to disappoint the Indicator lovers here)...
Hi Mark and Mr V.

I'm happy to have a skype room but I think Mark is right it will have to be limited to 1 minute traders only and at least some resemplence to this system...Gonna have to be strict on that piont because it only causes confusion if we discuss other systems. if you want to discuss another system , start your own thread, skype room, they don't cost anything other than your time...

Ok well if someone knows how to do it and wants to be the marshall to kick out the none followers thats fine by me..
Feel the Fear and do it anyway!!!
  • #9,640
  • Dec 4, 2015 3:39am Dec 4, 2015 3:39am
Quoting clivepackham
{quote} Hi Mark and Mr V. I'm happy to have a skype room but I think Mark is right it will have to be limited to 1 minute traders only and at least some resemplence to this system...Gonna have to be strict on that piont because it only causes confusion if we discuss other systems. if you want to discuss another system , start your own thread, skype room, they don't cost anything other than your time... Ok well if someone knows how to do it and wants to be the marshall to kick out the none followers thats fine by me..
Hi Clive! Sure, only 1 minute and your system! I can create a Skype group chat.

My Skype ID is "fxtrader.79" , anyone interested can add me and i add you to the
group chat!
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