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Scalping trading system CCI based

  • #101
  • Feb 9, 2017 9:46am Feb 9, 2017 9:46am
Quoting Dezil
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?GBPJPYM1.png;2180499 {image}
No, you should take in consideration just the first one

Why did you entry so fast on the market? It is the same type of example as this morning with forexbandit, the CCI crosses the 100 level in the same time that the SMA13 crosses the horizontal line. I never entry at this moment, it's starting this moment that we look for the entry. I think in your previous posts you set your entry this way.

Could you post the screenshot of your first loss?
  • #102
  • Feb 9, 2017 10:16am Feb 9, 2017 10:16am
Quoting ioni72
{quote} No, you should take in consideration just the first one Why did you entry so fast on the market? It is the same type of example as this morning with forexbandit, the CCI crosses the 100 level in the same time that the SMA13 crosses the horizontal line. I never entry at this moment, it's starting this moment that we look for the entry. I think in your previous posts you set your entry this way. Could you post the screenshot of your first loss?
Confirmation candle was the third candle after ma cross the line. So it was not the fast entry as I understand.
Unfortunately I can not post screenshot of the first loss.
  • #103
  • Feb 9, 2017 10:28am Feb 9, 2017 10:28am
Quoting Dezil
{quote} Confirmation candle was the third candle after ma cross the line. So it was not the fast entry as I understand. Unfortunately I can not post screenshot of the first loss.
I see, you are right.

As everybody knows there is no perfect system. The difference is made by the money management. If you win in 99% of your trades and you set the next one X 10 higher and you lose your trade, at the end the result is zero. If you win only 60% of your trades and you lose the others and you have the same risk, at the end you will win 20% and this is my personal goal. The target should be something that could be reached.

It's impossible to win 100% of your trades, even if we avoid the supports and resistances, fixes and mobiles, the round numbers and so on.

Hope you could win some pips with this system

Ioan
  • #104
  • Feb 9, 2017 10:40am Feb 9, 2017 10:40am
Hello ioni72,

here has been my entry in gpbjpy, a winning trade but i think, my entry was false. Please can you draw the correct entry in my Chart?

best regards

Attached Image (click to enlarge)
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  • #105
  • Feb 9, 2017 10:40am Feb 9, 2017 10:40am
SL is another question for me. 30 is much too big for 15 TP. Last swing is very often too close to entry price. With 15 tp 15 SL we need high win rate to profit.
  • #106
  • Feb 9, 2017 10:58am Feb 9, 2017 10:58am
Quoting ohleclaire
Hello ioni72, here has been my entry in gpbjpy, a winning trade but i think, my entry was false. Please can you draw the correct entry in my Chart? best regards Screenshot_2.png;2180878 {image}
Hello ohleclaire,

There was no entry at all from my point of view.
Please find bellow the chart with the explanations.

Hope it is clear enough.

Have a nice evening,

Ioan
Attached Image (click to enlarge)
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  • #107
  • Feb 9, 2017 11:12am Feb 9, 2017 11:12am
Quoting Dezil
SL is another question for me. 30 is much too big for 15 TP. Last swing is very often too close to entry price. With 15 tp 15 SL we need high win rate to profit.
Dezil,

The money management is an individual matter. There are several reasons for that: what type of trading account you work with- ECN, STP, spreads-fixes or variables, commissions, latency and so on. Each of us should take the time and find the settings for each traded pair. For the same pair there is a huge difference between FxPro and Pepperstone for example. While it is impossible to trade with FxPro, and they are very good in my eyes, you can have some profit with the others.

When you manage your SL you manage your own finances, nobody could tell you how many pips you should have in reserve. If you work with EUR it is quit impossible to get more than 10 pips in profit for a single trade. I hope you understand my position.

This system is just the technical environment for your trade, but the great part of work that will make the difference will be your own MM.

Ioan
  • #108
  • Feb 9, 2017 12:22pm Feb 9, 2017 12:22pm
Quoting ioni72
{quote} Hello ohleclaire, There was no entry at all from my point of view. Please find bellow the chart with the explanations. Hope it is clear enough. Have a nice evening, Ioan {image}
Where on your chart CCi cross 200 line will be at the moment of 1,2
  • #109
  • Feb 9, 2017 12:24pm Feb 9, 2017 12:24pm
There are so more rules , must training and be cautious. ioni72 in free time please give us more examples from your trading and I think sometime be hard to get everythink clear.
"The essence of Discipline is that there are no exceptions" - Jack Schwager
  • #110
  • Feb 9, 2017 12:40pm Feb 9, 2017 12:40pm
Quoting Dezil
{quote} Where on your chart CCi cross 200 line will be at the moment of 1,2
At 12:23 PM it's the moment when the CCI crosses the 200 line, at 12:30 Pm the SMA 13 crosses the horizontal line and so on
  • #111
  • Feb 9, 2017 12:46pm Feb 9, 2017 12:46pm
Quoting Panisko
There are so more rules , must training and be cautious. ioni72 in free time please give us more examples from your trading and I think sometime be hard to get everythink clear.
I will try to be more available, I promise. In the same time a chart take some attention to be prepared and posted. Do you find my explanations and the trading rules for the system are too complicated?

So, this week end, I'll do my homeworks and try to get them simpler.

Have a nice evening,

Ioan
  • #112
  • Feb 9, 2017 1:07pm Feb 9, 2017 1:07pm
I think I get it and when open mt4 and make backtest I can find some profit entries. Look on this without CCFP :

I think about making SL one befor last fractal or last.

It's not complicated but easy to forget about somethink to check without training
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"The essence of Discipline is that there are no exceptions" - Jack Schwager
  • #113
  • Feb 9, 2017 1:22pm Feb 9, 2017 1:22pm
Quoting Panisko
I think I get it and when open mt4 and make backtest I can find some profit entries. Look on this without CCFP : I think about making SL one befor last fractal or last. It's not complicated but easy to forget about somethink to check without training {image} {image} {image}
Yes, it's not bad at all. You have understood the main idea, that's certain. Your charts look well. Now, the problem is the market and here I can do nothing. If the market is quiet not is beyond my forces to give you all the right conditions to trade and to make many pips. So, you have to adapt your trading to the market conditions, but, the most important is that you are on the wave and you can go further now.

I'm happy for you

Ioan
  • #114
  • Feb 9, 2017 5:21pm Feb 9, 2017 5:21pm
Quoting ioni72
Example for a short entry with explanations {image}
Think I understand now but few questions:

1 It seems you missed a lot of the down move here..
2 Why wait for the CCI to go back above -100 , not touch 100 and then go back below -100? (explanation of the CCI would be help and ill check it myself also as haven't used it before)
3 Why not open short at the close of the outside bar? (I'm still learning so explanation of how the next bar confirms to go short would be good)

Thanks...ill set up the template and try this when I get a chance.
  • #115
  • Feb 9, 2017 8:26pm Feb 9, 2017 8:26pm
Thanks for sharing this system with us. Ive been following it and could you tell me if this is a proper setup?
Attached Image (click to enlarge)
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  • #116
  • Feb 10, 2017 1:13am Feb 10, 2017 1:13am
Quoting Emerald2112
{quote} Think I understand now but few questions: 1 It seems you missed a lot of the down move here.. 2 Why wait for the CCI to go back above -100 , not touch 100 and then go back below -100? (explanation of the CCI would be help and ill check it myself also as haven't used it before) 3 Why not open short at the close of the outside bar? (I'm still learning so explanation of how the next bar confirms to go short would be good) Thanks...ill set up the template and try this when I get a chance.
Hello Emerald,

Could you send a chart with your requests on it? I think it will be better for me to understand what do you exactly mean.

Thank you for understanding.

Have a nice day,

Ioan
  • #117
  • Feb 10, 2017 1:19am Feb 10, 2017 1:19am
Quoting Tbuild
Thanks for sharing this system with us. Ive been following it and could you tell me if this is a proper setup?EURUSDM1.png;2181525 {image}
Hello Tbuild,

From my point of view, it is not a proper entry described on your chart. You design a short entry just above the SMA 200 or 1000, thing that I don't recommend at all because these are very strong resistances/ supports lines. Secondly, you should check before the position of the legs of the pair on CCFP chart.

I will be present all day long , so if you need to ask some questions don't hesitate.

Have a great day,

Ioan
  • #118
  • Feb 10, 2017 2:34am Feb 10, 2017 2:34am
What about this one ?
Attached Image (click to enlarge)
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  • #119
  • Feb 10, 2017 2:58am Feb 10, 2017 2:58am
Quoting katman
What about this one ?EURUSDM1.png;2182004 {image}
Hello Katman,

It's a lucky one. there is an entry a little bit later 08:55 AM on your chart, for a 10 pips rally and the CCFP was confirming this entry.

But this is the idea, you have understood how it works, now it is up to you to implement to good datas for your MM, as TP, SL and BE.

Thank you for your interest and have a nice day,

Ioan
  • #120
  • Feb 10, 2017 3:06am Feb 10, 2017 3:06am
Quoting ioni72
{quote} Hello Katman, It's a lucky one. there is an entry a little bit later 08:55 AM on your chart, for a 10 pips rally and the CCFP was confirming this entry. But this is the idea, you have understood how it works, now it is up to you to implement to good datas for your MM, as TP, SL and BE. Thank you for your interest and have a nice day, Ioan
Hi Ioan,
thanks for your comment, Iam still learning.
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