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Scalping trading system CCI based

  • #721
  • May 25, 2017 3:18am May 25, 2017 3:18am
Quoting Pohbear
Hi Ioni, I'm looking at your pivot points. Do you stay away from ALL the points? R1, MR1, MR2, MS1, MS2, stuff like that? First time coming across this pivot levels (I'm still relatively new)
Hello Pohbear,

Sorry for the delay.

If you want to entry it is better to avoid that if the price is just above or below those lines. I take as security 5 pips in both directions. We, as individuals, never know when the main trend will stop and these lines are often the points where the trend change or at least the price bounds strongly. You can manage it, of course, by a large stop loss, but since I trade during the London session I don't want to wait to long to close my orders.

If you have any other question, please don't hesitate to ask here.

Ioan
  • #722
  • May 25, 2017 3:26am May 25, 2017 3:26am
Hello traders, investors and followers,

After the poor trading day of yesterday, when we had to wait the BOC Overnight Rate and trade the reaction of the market, we are again, this morning, in a calm market.

Even like that, we could trade before the Second Estimate GDP of UK. We have 29.8 pips and 0.99% for today and 307.3 pips and 6.44% for the week.

Many green pips to all of you.
Attached Image (click to enlarge)
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  • #723
  • May 25, 2017 6:03am May 25, 2017 6:03am
Quoting ioni72
Hello traders, investors and followers, After the poor trading day of yesterday, when we had to wait the BOC Overnight Rate and trade the reaction of the market, we are again, this morning, in a calm market. Even like that, we could trade before the Second Estimate GDP of UK. We have 29.8 pips and 0.99% for today and 307.3 pips and 6.44% for the week. Many green pips to all of you. {image}
Ioni,
Do you draw the blue digits (1,2,3,4) on the chart by hand, or is it momentum software that does it? Thank you.
  • #724
  • May 25, 2017 6:13am May 25, 2017 6:13am
Quoting MidnightRun
{quote} Ioni, Do you draw the blue digits (1,2,3,4) on the chart by hand, or is it momentum software that does it? Thank you.
Hi MidnightRun,

By hand. I'm not a coder and there is nobody for instant to code the strategy with Momentum instead of CCI.

Have a nice day,

Ioan
  • #725
  • May 25, 2017 8:57am May 25, 2017 8:57am
Hi Sir,

I noticed your CCI14 from 200/-200, 100/-100 on page 1, you changed the scales in 99? whats the reason?
  • #726
  • May 25, 2017 9:32am May 25, 2017 9:32am
Hi Ioni- Thanks for a great thread!

I see you have replaced the CCI with the Mom indi-- could you please give the levels that you are using, could not make it out in the charts

I am assuming you are using the Mom in the same manner as you did the CCI
Also could you elaborate on how you are using the higher TF -5M and 15M
Thanks in advance
Live today like theres no tomorrow-- Prioritize like you will die today
  • #727
  • May 25, 2017 9:33am May 25, 2017 9:33am
Could you kindly tell me if my entry is correct? at the red arrow
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  • #728
  • Edited May 26, 2017 2:43am May 25, 2017 10:23am | Edited May 26, 2017 2:43am
Quoting Pohbear
Hi Sir, I noticed your CCI14 from 200/-200, 100/-100 on page 1, you changed the scales in 99? whats the reason?
Hi Pohbear,

The first post has been updated some time ago. I don't use anymore the CCI but the Momentum.

All the other rules are the same.

The levels with Momentum are 100.1 and 99.9 for the reference candle. The high or low of this candle should be broken by the SMA 13, depending the direction of the trend.

With SMA13 above/below the high/low of the reference candle 1, with the Momentum on higher TF above/below the given levels, you could start to look for a japanese candlestick pattern in the direction of the main trend with a confirmation. How to recognize the confirmation is already explain in the post 14.

If you need more help, please send a private message. { email address deleted by staff }

Have a nice day,

Ioan
  • #729
  • Edited May 26, 2017 2:43am May 25, 2017 10:31am | Edited May 26, 2017 2:43am
Quoting iamsovereign
Hi Ioni- Thanks for a great thread! I see you have replaced the CCI with the Mom indi-- could you please give the levels that you are using, could not make it out in the charts I am assuming you are using the Mom in the same manner as you did the CCI Also could you elaborate on how you are using the higher TF -5M and 15M Thanks in advance
Hello Iamsovereign,

It's very pleasant to hear you again in this thread. Thank you for your kind words and feelings.

The levels are 100.1 and 99.9. You should start with a higher tf, as 5m or 15m. Let's take a buy signal as example, the sell one is the same in mirror.

Once a candle broke the level 100.1 you have to switch to the chart at 1m and draw the lines on the chart, with the high and the low of the candle from the 5m, if you decided to start with this tf. The SMA13 should broke the high of this candle and stay above this level. At this moment you can look for a japanese candlestick pattern in the direction of the trend.

MM is up to you.

Have a nice day and if you need more explanations you can send a private message. { email address deleted by staff }

Ioan
  • #730
  • May 26, 2017 4:09am May 26, 2017 4:09am
Hello everyone,

A very nice morning for trading. Very beautiful downtrend for the GBPJPY during the Asian session with continuation in the first hours of the London session.
Momentum on 15m and 5m was below the reference line. I decided to entry following a bearish classical divergence with confirmation.
The volume was above the level 100, as requested, so, finally, all conditions were present to entry short.

Nice trades, nice results. 25.7 pips and 1.00% profit for today. 332.4 pips and 7.44% for this week. 1344.4 pips and 40.09% for this month.

There is nothing to add to these statements. In french we say: " ce qu'il fallait démontrer!" so in english is something like: " so what it has to be demonstrated!" Mathematics!!! I love this sport, guys!!!

And now, it's time to go out and run quietly. My job is done, my orders are closed, my weekend should be perfect. And moreover, the sun is back!!

You can send private messages if you need my help, I'll give you the directions to follow by this way. I'll check my PMs in some hours, before the end of the afternoon.

Have a nice weekend for all you,

Ioan
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  • #731
  • May 28, 2017 1:54am May 28, 2017 1:54am
The green lines on your chart shows where you enter and exit your trade ? also your target is always as big as your stoploss so if stop is 30 pips to nearest swing your target is also 30 pips ?

Best regards
  • #732
  • May 28, 2017 2:31am May 28, 2017 2:31am
Quoting jgadefelth
The green lines on your chart shows where you enter and exit your trade ? also your target is always as big as your stoploss so if stop is 30 pips to nearest swing your target is also 30 pips ? Best regards
Hello jgadefelth,

Yes for the green lines. I'm using two different indicators on my charts. One of them, built by Jagg, is based on CCI and it appears in light green. The other one, based on Momentum, appears in dark green. I try to put in evidence how it works each time for both of them.

I decided finally to trade with a RR lower than 1:1., because of the 1m chart and my philosophy. First of all, I have a very small daily target, set at 0.5% profit. It could be hit by only 15 pips with my actual MM. As you can see on my charts, for the stop loss, the last swing goes from 20 pips to 30 pips, it's never the same. So, if I have a target at 15 pips and the stop loss at 20 , there is no a RR at 1:1.

It is not so important in my eyes because of the global win rate that is above 85%. You can delete this way and quietly your losses and finish the day in profit. But this is only my approach of trading. There are many other traders which don't agree to work with these conditions.

I hope this is clear enough and I answered to your question.

Have a nice day,

Ioan
  • #733
  • May 28, 2017 2:52am May 28, 2017 2:52am
Quoting ioni72
{quote} Hello jgadefelth, Yes for the green lines. I'm using two different indicators on my charts. One of them, built by Jagg, is based on CCI and it appears in light green. The other one, based on Momentum, appears in dark green. I try to put in evidence how it works each time for both of them. I decided finally to trade with a RR lower than 1:1., because of the 1m chart and my philosophy. First of all, I have a very small daily target, set at 0.5% profit. It could be hit by only 15 pips with my actual MM. As you can see on my charts, for the...
Hi yes it is clear can you please also put on your charts what your winning was in pips for the trade ? Also why did you abandon the 1:1 did it affect your winning rate so mutch so it was better to go for lower tp ?


Best regards
  • #734
  • May 28, 2017 3:13am May 28, 2017 3:13am
Quoting jgadefelth
{quote} Hi yes it is clear can you please also put on your charts what your winning was in pips for the trade ? Also why did you abandon the 1:1 did it affect your winning rate so mutch so it was better to go for lower tp ? Best regards
Hi,

I have noted on my notebook your request and I will insert on my future commented charts the number of pips per trade.

Regarding the 1:1, there are severals answers: first of all, I have seen that it is quit difficult to get more than 15 pips in a single swing on a chart at 1m. Secondly, if I keep the position longer to hit 20 or 30 pips, I have to give up to my actual break even strategy, after the price hits 10 pips the SL is set at 2 pips and that is what I don't want.

I'm very comfortable with this trading style, so it doesn't matter, in my opinion, that the RR is lower than 1:1.

This approach lets me some free time to spent with my other activities and my family. Using this MM, the time in trade goes from some 10-15 seconds sometimes, to 1h in average. The longest trade is about 1h30. I don't count the time when I wait to enter in trade.

Nice weekend to you,

Ioan
  • #735
  • May 28, 2017 3:23am May 28, 2017 3:23am
Quoting ioni72
{quote} Hi, I have noted on my notebook your request and I will insert on my future commented charts the number of pips per trade. Regarding the 1:1, there are severals answers: first of all, I have seen that it is quit difficult to get more than 15 pips in a single swing on a chart at 1m. Secondly, if I keep the position longer to hit 20 or 30 pips, I have to give up to my actual break even strategy, after the price hits 10 pips the SL is set at 2 pips and that is what I don't want. I'm very comfortable with this trading style, so it doesn't matter,...
OK thanks but you dont take 1 trade per day when your present your summary for the mounth or week it seems to be more trades and more pips ?

Best regards
  • #736
  • Edited 5:50am May 28, 2017 3:38am | Edited 5:50am
Quoting jgadefelth
{quote} OK thanks but you dont take 1 trade per day when your present your summary for the mounth or week it seems to be more trades and more pips ? Best regards
Yes, you are perfectly right.

The summary takes in count all my trades of the day. Generally, in the same time you can find two or three opportunities to entry on the market. I take all the possible trades at the same moment, with the next two conditions: the global risk should stay around 3% and if the risk for one single trade is above 30 pips, that represents 1% for me, I don't take it.

I present only one chart with explanations , not all of them, indeed.

Ioan
  • #737
  • May 29, 2017 4:15am May 29, 2017 4:15am
Hello traders, followers and investors,

The week has started on a very quiet rhythm with slow volumes and little mouvements.

Even in these conditions we can trade because of the low risk that we assumed and to the lack of stress. As general information, our daily target is set at 15 pips and/or 0.5% profit. So, if a loss happen, we have a lot of time during the same trading day to cover the loss. And if there is not the case, the next day or, even slowly, until the end of the week.

Everything is in our heads. It's all about mental.

As traders, we can be strong only if we are very confident in our strategy and if we master our risks and obviously, our losses.

Today's results: 18.4 pips, 0.7% profit.

The chart is below with the explanations.

I wish you all a very good day and a good week.

Ioan
Attached Image (click to enlarge)
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  • #738
  • May 29, 2017 5:00am May 29, 2017 5:00am
Hi everyone,

I would like to wish a very warm welcome to my old friend, from the high school, that's already 30 ans ago now, I'm talking here about masterpic77.

He's integrated our team as coder, these are his skills. He started to code the main strategy of this thread, using the momentum instead of the CCI, as seen in the first post. He wrote the second part of the code during the last weekend and, who knows, we will get, maybe, in some time, a completely automated strategy.

Welcome good friend, even if you have some white hairs now.!!! Not like me, I mean!!!

Ioan
  • #739
  • May 29, 2017 5:13am May 29, 2017 5:13am
Thanks Ioni for your great words ; I think we can go further step by step with our system development based on your strategy .
The future looks very nice.
masterpic77
  • #740
  • May 29, 2017 8:40am May 29, 2017 8:40am
Hi Ioan,

My momentum indicator doesn't seem to scale properly. Can i see what are your levels and fixed minimum/fixed maximum under the "common" tab?

cheers
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