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Scalping trading system CCI based

  • #221
  • Feb 13, 2017 6:02am Feb 13, 2017 6:02am
Quoting reteid2222
{quote} Thank you very much for clearing several rules...will try out and code an alert indi! {image}
Thanks, Retina, for your positive attitude

I'll post in a few minutes a chart with a bad entry. It's possible to learn this way also, not only with good trades.
  • #222
  • Feb 13, 2017 6:07am Feb 13, 2017 6:07am
Ok, let's learn with a loss.
First chart GBPCAD, second one represents the CCFP
Analysis just after
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 197 KB
Click to Enlarge Name: Screenshot2.png Size: 176 KB
  • #223
  • Edited 7:18am Feb 13, 2017 6:29am | Edited 7:18am
Quoting ioni72
Ok, let's learn with a loss. First chart GBPCAD, second one represents the CCFP Analysis just after {image} {image}
Explanations:

First chart:

1- CCI>200
2- SMA13> high of 1
-retracement doesn't touche the opposite -100 line
3-CCI>100
4-confirmation of 3
5- CCI<-200

Second chart- position reported to the CCFP

Analyse: as seen on the first chart, the rules for entry are mainly respected except the volume at a very low level and the fact that the entry took place just after a major round number , in this case 164.00. CCFP is in a convenable position for entry. If you check also a chart from a timeframe of 1h, you could see that there are two very strong resistances just above : SMA 200 and SMA 1000.

Let's say that we have entered the market. Analysis of the exit. The price went against me, so there was no profit.

As seen on the main chart, the SL placed below the last swing is equal at 30 pips, too much for this trading style, 30 pips represents 2% of loss.

The automatic exit, as described in our rules, happens when CCI crosses the opposite 200 level, in our case candle number 5. At this moment the loss is 7 pips.

I didn't close the trade and let it run for trying to manage in other way the exit.

Finally, I decided to get out of the trade to prepare the analysis when the price made a new lowest low below the SMA200 with a loss of 25 pips.

Difference between the exit given by the system rules and the real one -18.

Some minutes after I took a new trade on GBPAUD with a profit of 15 pips and if the rules for exit were respected for the first trade I had a small profit at midday, instead of a 1%loss.

Your comments are welcomed.

Ioan
  • #224
  • Feb 13, 2017 6:33am Feb 13, 2017 6:33am
Hi Ioni,

Thank you for such a solid systems. This is my first try with real small amount account.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 62 KB


ps. closed manually at +3.2 because CCI goes below -200.
  • #225
  • Feb 13, 2017 6:44am Feb 13, 2017 6:44am
Quoting pipstroll
Hi Ioni, Thank you for such a solid systems. This is my first try with real small amount account. Screenshot1.png;2185043 ps. closed manually at +3.2 because CCI goes below -200. {image}
What can I say if not that I'm happy for you.

Go on and never forget to think to your MM and your risk.

Standing ovation for pipstroll, please!!!!!!
  • #226
  • Feb 13, 2017 6:57am Feb 13, 2017 6:57am
Ioni, thank you very much for sharing your system; I am currently studying it through manual backtesting. One question, as part of the indicators you shared there is an RSI divergence alert; what use are we to make of it (if any) within the system? Also can you please share some info on how you evaluate Volume? You say......"Volumes above the level set individually for each pair-" can you expand on this a bit please? Thank you in advance.
'the quieter you become, the more you are able to hear' - Ram Dass
  • #227
  • Feb 13, 2017 7:02am Feb 13, 2017 7:02am
Quoting ioni72
{quote} Explanations: First chart: 1- CCI>200 2- SMA13> high of 1 -retracement doesn't touche the opposite -100 line 3-CCI>100 4-confirmation of 3 5- CCI<-200 Second chart- position reported to the CCFP Analyse: as seen on the first chart, the rules for entry are mainly respected except the volume at a very low level and the fact that the entry took place just after a major round number , in this case 164.00. CCFP is in a convenable position for entry. Let's say that we have entered the market. Analysis of the exit. The price went against me, so...
Thank you for presenting this system!

I couldn't find a valid entry till now, due to small diferences in CCI I suppose..
  • #228
  • Feb 13, 2017 7:13am Feb 13, 2017 7:13am
Quoting tombombadill
Ioni, thank you very much for sharing your system; I am currently studying it through manual backtesting. One question, as part of the indicators you shared there is an RSI divergence alert; what use are we to make of it (if any) within the system? Also can you please share some info on how you evaluate Volume? You say......"Volumes above the level set individually for each pair-" can you expand on this a bit please? Thank you in advance.
Hello tombombadill,

First of all, the RSI divergence is a bad copy paste of mine. Apologise for being so tired at the moment when I posted the rules. There is no incidence for this indi with our strategy.

Secondly, the volume. I imagine that you are a little bit professional and you have opened several practice accounts with several brokers. At this moment you could see that the volumes provided by each broker are different, because they take in charge only the orders placed on their platform. In fact, it is possible that when for me the volume is quit low, for you is high. It is an individual appreciation to know, understand and see, for each pair and for each broker when the price has a strong support in volumes.

It is an information that I couldn't provide in advance and another indicator will measure something that always is measured by the platform of your broker.

Is this enough clear as information?

I'm available still for one little hour, before taking a break.

Ioan
  • #229
  • Feb 13, 2017 7:13am Feb 13, 2017 7:13am
Quoting ioni72
Ok, let's learn with a loss. First chart GBPCAD, second one represents the CCFP Analysis just after {image} {image}
Hi Ioni,

Why dont you just add that CCFP directly to your charts?
Just set it like this:
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 16 KB
  • #230
  • Feb 13, 2017 7:25am Feb 13, 2017 7:25am
Quoting smartcash
{quote} Hi Ioni, Why dont you just add that CCFP directly to your charts? Just set it like this: {image}
Hi,

Because of the resources of my CPU. If I open 10 charts it could be a problem to process all data by provided by each CCFP. We, I mean all of us, don't have the same investments in materials and everybody could work with just an CCFP.

But, if you can, why not add the CCFP on your charts? It is the best solution obviously.
  • #231
  • Feb 13, 2017 7:31am Feb 13, 2017 7:31am
Quoting ioni72
{quote} Hi, Because of the resources of my CPU. If I open 10 charts it could be a problem to process all data by provided by each CCFP. We, I mean all of us, don't have the same investments in materials and everybody could work with just an CCFP. But, if you can, why not add the CCFP on your charts? It is the best solution obviously.
Yeah I agree with you. But since i only have 4 pairs (more than enough) its no worries.

By the way, just hit another TP sticking to those rules I used earlier today (GBPAUD)
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 47 KB
  • #232
  • Feb 13, 2017 7:35am Feb 13, 2017 7:35am
Quoting Go5
{quote} Thank you for presenting this system! I couldn't find a valid entry till now, due to small diferences in CCI I suppose..
Hello Go5,

Thank you for taking the time to analyse this system.

Your advice could be precious here.

Have a nice day,

Ioan
  • #233
  • Feb 13, 2017 7:39am Feb 13, 2017 7:39am
Quoting smartcash
{quote} Yeah I agree with you. But since i only have 4 pairs (more than enough) its no worries. By the way, just hit another TP sticking to those rules I used earlier today (GBPAUD) {image}
So you have decided to go on with the version of the system that you proposed sooner, as I have seen on your chart and it is another winning entry for you.

Standing ovation already?

Ioan
  • #234
  • Feb 13, 2017 7:48am Feb 13, 2017 7:48am
Quoting ioni72
{quote} So you have decided to go on with the version of the system that you proposed sooner, as I have seen on your chart and it is another winning entry for you. Standing ovation already? Ioan
Hi Ioni

I did read through to try and find where i picked that rule up. Sorry but my fault I have misread it.

I will go back and stick to your original rules!.

Thanks for a very good system.
  • #235
  • Feb 13, 2017 7:51am Feb 13, 2017 7:51am
Quoting smartcash
{quote} Hi Ioni I did read through to try and find where i picked that rule up. Sorry but my fault I have misread it. I will go back and stick to your original rules!. Thanks for a very good system.
Just wait smartcash, I would like you to try this version, it seems to work quit well, isn't it?

Could you do it for all of us?

Thank you,

Ioan
  • #236
  • Feb 13, 2017 7:52am Feb 13, 2017 7:52am
Quoting ioni72
{quote} Hello tombombadill, First of all, the RSI divergence is a bad copy paste of mine. Apologise for being so tired at the moment when I posted the rules. There is no incidence for this indi with our strategy. Secondly, the volume. I imagine that you are a little bit professional and you have opened several practice accounts with several brokers. At this moment you could see that the volumes provided by each broker are different, because they take in charge only the orders placed on their platform. In fact, it is possible that when for me the...
All clear Ioni, thank you for your reply.
'the quieter you become, the more you are able to hear' - Ram Dass
  • #237
  • Feb 13, 2017 8:06am Feb 13, 2017 8:06am
Quoting tombombadill
{quote} All clear Ioni, thank you for your reply.
You are welcome

If you could send your results, from a statistical point of view, I mean about trades in link with this strategy, it could be interesting for me to have an overview about how many trades, rate of wins/loss, pips for each of us.

Ioan
  • #238
  • Feb 13, 2017 8:09am Feb 13, 2017 8:09am
Quoting ioni72
{quote} Just wait smartcash, I would like you to try this version, it seems to work quit well, isn't it? Could you do it for all of us? Thank you, Ioan
Sure! I will stick to those rules and give you updates here

Thanks
Kevin
  • #239
  • Feb 13, 2017 8:17am Feb 13, 2017 8:17am
Quoting smartcash
{quote} Sure! I will stick to those rules and give you updates here Thanks Kevin
Thank you for your help, Kevin
  • #240
  • Feb 13, 2017 8:29am Feb 13, 2017 8:29am
Quoting reteid2222
{quote} Why not simply tell me....only sma200<sma1000?
I very simply told you to Please read the first few pages.. even with this post -- you still have it wrong. then Ioni has to reprint it for you.

I did not mean any disrespect in my post to you-- Just simple saying that you don't have it correct. I will not rewrite the instructions for you when they are already there and all I am saying is -- please read again and if there are questions then Ioni or one of us could help to clear it up.

Many pips to you
Live today like theres no tomorrow-- Prioritize like you will die today
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