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Scalping trading system CCI based

  • #81
  • Feb 9, 2017 2:07am Feb 9, 2017 2:07am
Quoting forexbandit7
Nice system, will try it on a demo, have you tried it on 5M time frame?
Hello forexbandit7,

No, I never tried it on 5 min.

You could eventually try it on this timeframe to have a view for the performance for this period, if you have the time, of course.

Good trading day,

Ioan
  • #82
  • Feb 9, 2017 2:18am Feb 9, 2017 2:18am
My first try with 5M, pls correct me if im wrong, taken partial 15 pips and holding the remaining lots
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Early bird gets the worm
  • #83
  • Feb 9, 2017 2:34am Feb 9, 2017 2:34am
Quoting forexbandit7
My first try with 5M, pls correct me if im wrong, taken partial 15 pips and holding the remaining lots {image}
Hi froexbandit,

Nice chart. Personally, I wait for a retracement of the CCI indicator after the SMA13 crosses the horizontal line. But in this specific case there is a coïncidence between the retracement and the moment when the SMA crosses so It could be possible to enter this way also.

Have a nice day,

Ioan
  • #84
  • Feb 9, 2017 2:43am Feb 9, 2017 2:43am
Quoting ioni72
{quote} Hi froexbandit, Nice chart. Personally, I wait for a retracement of the CCI indicator after the SMA13 crosses the horizontal line. But in this specific case there is a concidence between the retracement and the moment when the SMA crosses so It could be possible to enter this way also. Have a nice day, Ioan
Thanks for your input
Early bird gets the worm
  • #85
  • Edited 4:10am Feb 9, 2017 3:33am | Edited 4:10am
Hello, Ioan.
Here is anoter one question i have. Do we have to move the line every time cci cross +200 or -200 to the same direction? For example we have 2 consecutive croses +200. Ater first cross there may be no confirmation to trade or we made a trade and get SL/TP. After that there was no opposite signal (-200) and we have new +200 cross. Do we have to move the line to the new cross bar or the initial line stays valid untill opposite (-200) signal?

Thanks.
  • #86
  • Feb 9, 2017 4:10am Feb 9, 2017 4:10am
Hi to All,
I dont know much about CCI (nearly nothing to be true) i took this 2 Tades this morning ,dit not reach 15 pips profit, the CCI droppet below 100 and i closed the first long with 6 pips profit, The second long with 7 pips at the daiily hight
Maybee I should have hold the first trade , not close it so early,I dont know
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  • #87
  • Feb 9, 2017 4:19am Feb 9, 2017 4:19am
Quoting Dezil
Hello, Ioan. Here is anoter one question i have. Do we have to move the line every time cci cross +200 or -200 to the same direction? For example we have 2 consecutive croses +200. Ater first cross there may be no confirmation to trade or we made a trade and get SL/TP. After that there was no opposite signal (-200) and we have new +200 cross. Do we have to move the line to the new cross bar or the initial line stays valid untill opposite (-200) signal? Thanks.
Hello Dezil,

Yes, I move the line after each trade. I consider there is a new cycle and I check for applying the conditions for entering in a new trade. But you could adapt the system to your own trading style as well.

Have a great day,

Ioan
  • #88
  • Feb 9, 2017 4:27am Feb 9, 2017 4:27am
Quoting MJurban
Hi to All, I dont know much about CCI (nearly nothing to be true) i took this 2 Tades this morning ,dit not reach 15 pips profit, the CCI droppet below 100 and i closed the first long with 6 pips profit, The second long with 7 pips at the daiily hight Maybee I should have hold the first trade , not close it so early,I dont know {image}
Hello,

In one of my previous posts I said that I don't work with EUR so, I can't say witch should be the best target in this case. It's up to you to find your own TP, SL and break even level.

Your chart presents all the conditions for a good entry, for the first one. For the second , if you closed the last one in profit, you should search another perfect entry in my opinion. But you can adapt as well the system with your trading style.

Nice day,

Ioan
  • #89
  • Feb 9, 2017 4:32am Feb 9, 2017 4:32am
Quoting ioni72
{quote} Hello Dezil, Yes, I move the line after each trade. I consider there is a new cycle and I check for applying the conditions for entering in a new trade. But you could adapt the system to your own trading style as well. Have a great day, Ioan
So every concecutive cci 200 cross is a new cycle and no metter did we trade previous cross or not? New cross -> new line and all other conditions.
  • #90
  • Feb 9, 2017 4:54am Feb 9, 2017 4:54am
This is my point of view, yes.

In this way, I can check that all the conditions required are reunited and I can entry in the trade without any doubt. It is for my peace of mind.
  • #91
  • Feb 9, 2017 5:42am Feb 9, 2017 5:42am
Hello to everyone,

Is there someone that found a single good entry until now, for today I mean?

I have only parts of the necessary conditions, but never all of them. I sow the example on EUR/USD , anyone else could show another trade?
  • #92
  • Feb 9, 2017 6:00am Feb 9, 2017 6:00am
Quoting ioni72
Hello to everyone, Is there someone that found a single good entry until now, for today I mean? I have only parts of the necessary conditions, but never all of them. I sow the example on EUR/USD , anyone else could show another trade?
Now i'm in USDJPY trade. It's closer and closer to SL. I did't look to the H1 chart and opened near current day high. System needs more descrition then can be writen. Its all about trader experiance.
  • #93
  • Feb 9, 2017 6:08am Feb 9, 2017 6:08am
Quoting Dezil
{quote} Now i'm in USDJPY trade. It's closer and closer to SL. I did't look to the H1 chart and opened near current day high. System needs more descrition then can be writen. Its all about trader experiance.
What do you mean by more description? more details, or more pictures to complete the explanations, or whatever else?
  • #94
  • Feb 9, 2017 6:20am Feb 9, 2017 6:20am
Quoting ioni72
{quote} What do you mean by more description? more details, or more pictures to complete the explanations, or whatever else?
Sorry. My misprint. I ment discretion.
  • #95
  • Feb 9, 2017 6:34am Feb 9, 2017 6:34am
ioni72 I will be more active with some entries with next week becouse I have last exams

but I have some question. When I am in trade and CCI touch oposit 100 did you close this trade or still waiting untill touch SL ? Becouse some times I see it's come back.
"The essence of Discipline is that there are no exceptions" - Jack Schwager
  • #96
  • Feb 9, 2017 6:37am Feb 9, 2017 6:37am
ioni72 if you have time please give some more screens from your trades to learn more
"The essence of Discipline is that there are no exceptions" - Jack Schwager
  • #97
  • Feb 9, 2017 6:47am Feb 9, 2017 6:47am
Quoting Panisko
ioni72 I will be more active with some entries with next week becouse I have last exams but I have some question. When I am in trade and CCI touch oposit 100 did you close this trade or still waiting untill touch SL ?
Hello Panisko,

Thanks for your post. I think your exam is more important than this thread so, be careful with this.

The only situation when I quit automatically is when CCI crosses the opposite 200 level. If the conditions are met , but CCI just retraces below / above the opposite 100 level there is no reason to close the trade. The management of the profit could be divided in take profit at 15 pips or at the number of pips that you have decided, break even, or stop loss.

I hope it is clear enough.

Have a great day,

Ioan
  • #98
  • Feb 9, 2017 7:23am Feb 9, 2017 7:23am
Quoting ioni72
{quote} Hello Panisko, Thanks for your post. I think your exam is more important than this thread so, be careful with this. The only situation when I quit automatically is when CCI crosses the opposite 200 level. If the conditions are met , but CCI just retraces below / above the opposite 100 level there is no reason to close the trade. The management of the profit could be divided in take profit at 15 pips or at the number of pips that you have decided, break even, or stop loss. I hope it is clear enough. Have a great day, Ioan
Hi ioni

From what I understand you hold the position until the work SL i only when CCI crosses the opposite 200 you close position ?
Is besides when CCI crosses the opposite 200 level you are using some other technique exit position

BR

Piotr
  • #99
  • Feb 9, 2017 8:31am Feb 9, 2017 8:31am
Quoting piotrekk2000
{quote} Hi ioni From what I understand you hold the position until the work SL i only when CCI crosses the opposite 200 you close position ? Is besides when CCI crosses the opposite 200 level you are using some other technique exit position BR Piotr
Hello piotrekk,

Let's suppose that I entered the trade and it goes immediately against me. There are two situations to exit: first, the price touches my SL, and second, CCI crosses the opposite 200 level, when, even if the SL has not been touched, I exit manually.

In all the others situations I stay in trade until the price touches the TP or the BE level.

I hope you understand.

Have a nice day,

Ioan
  • #100
  • Feb 9, 2017 8:33am Feb 9, 2017 8:33am
Second loss for the day. This is the example of what i was asking about.
We have cci cross 200 #1 and confirmation candle, but during this confirmation candle cci makes new 200 cross (#2). Do i have to forget about current setup and move line to the next level (#2) and wait for a new setup?
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