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Trading is as simple as ABCD

  • #11,201
  • Jun 8, 2017 4:34am Jun 8, 2017 4:34am
perfect setup but its just not going so probably about to break down....

Attached Image (click to enlarge)
Click to Enlarge Name: the setup.png Size: 35 KB


Time will tell...
Feel the Fear and do it anyway!!!
  • #11,202
  • Jun 8, 2017 4:36am Jun 8, 2017 4:36am
Quoting clivepackham
{quote} Well did you get the first of the day???? {image} This is a 7/35 combo but much the same as the 7/50 combo....
Yeah boss -but on my 10/50 ( or your 10/50, I'm sure I got it from you or Harold ) and still collecting Dax pips

Edit: Just remembered - I got it from Harold - but you started it all for me.
every Saint has a past. Every Sinner has a Future
  • #11,203
  • Jun 8, 2017 4:47am Jun 8, 2017 4:47am
Quoting turnip15
{quote} Yeah boss -but on my 10/50 ( or your 10/50, I'm sure I got it from you or Harold ) and still collecting Dax pips Edit: Just remembered - I got it from Harold - but you started it all for me.
Glad to hear its working who ever gave you the idea, but heres the thing, you're the guy who stuck to it and makes the pips, thats the difference...The trader not the system my friend....

Well it turned away from my up signals with no harm done and now its dropped down through so lets see if it wants to go down then???
Attached Image (click to enlarge)
Click to Enlarge Name: not going up so maybe its going down.png Size: 39 KB
Feel the Fear and do it anyway!!!
  • #11,204
  • Jun 8, 2017 4:59am Jun 8, 2017 4:59am
Looking good to go long

Attached Image (click to enlarge)
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Feel the Fear and do it anyway!!!
  • #11,205
  • Jun 8, 2017 5:03am Jun 8, 2017 5:03am
Quoting clivepackham
{quote} Glad to hear its working who ever gave you the idea, but heres the thing, you're the guy who stuck to it and makes the pips, thats the difference...The trader not the system my friend.... Well it turned away from my up signals with no harm done and now its dropped down through so lets see if it wants to go down then??? {image}
My 5 Range bar chart ( remember them Harold/Clive) - looks good but I only collected eleven pips thus far. The one minute chart shows bigggg candles that are only reflected by a sudden "spurt" on the chart of a line of candles that print too quickly to get a trade on/off.

(Do you still trade a simple 7 lwma cross as opposed to using two lwma's Clive ?)

The two Lwma -10 and 50 currently show up move ? ( Using 5RB Bars)
Attached Image (click to enlarge)
Click to Enlarge Name: DAX5RB1100.jpg Size: 547 KB
every Saint has a past. Every Sinner has a Future
  • #11,206
  • Jun 8, 2017 5:05am Jun 8, 2017 5:05am
caught it in the end but just a BE...

Attached Image (click to enlarge)
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Feel the Fear and do it anyway!!!
  • #11,207
  • Jun 8, 2017 5:22am Jun 8, 2017 5:22am
Went to the Loo and missed my entries caught a handful on 2nd one but its bloody annoying when you've sat here watching it...

Attached Image (click to enlarge)
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Oh well there be another one along in a couple of minutes....

Although I think I've had enough for this session...
Feel the Fear and do it anyway!!!
  • #11,208
  • Jun 8, 2017 6:04am Jun 8, 2017 6:04am
Hi all, I am a very rookie trader that came across this thread, was wondering how do I set the LWMA and CCI indicators inmy MT4?
PLease advise.
Thanks in advance
  • #11,209
  • Jun 8, 2017 8:18am Jun 8, 2017 8:18am
Quoting clivepackham
{quote} Well did you get the first of the day????
No . . . 3 AM in the mountains of eastern Tennessee, US, I'm dreaming sweet dreams. Actually, I use thinkorswim and can't get overseas futures through them so the DAX is out. Wish I could though.

Your "flap top entry" method reminds me of something I read years ago by Oliver Velez. I know most don't like the man but he used to teach about "elephant bars" that would be large enough to take out all the smaller bars to the left. Here's a little presentation I just found on line. Interesting for anyone not familiar with the idea.

http://www.ifundtraders.com/Kamikaze_Dallas.pdf

I think 7/35 LWMA is superior to 5/35 or 5/34 SMA . . . which I "grew up with" as a trader. Here's a quick snapshot of the ES. Also shows two elephant bars. I didn't trade this. I'm just sitting here with my first cup of coffee trying to wake up.

But you can see that 7-35 LWMA in oscillator form just looks sharper and gives you much cleaner divergences/convergences to tell you when the swing momentum is dying.

The more I look at 7-35 LWMA the more I like it. These oscillators (5-34 and 5-35) have a long proud history, especially for Elliott Wave users. 7-35 LWMA would be a great tool for them if the word got out.

Cheers
Attached Image (click to enlarge)
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  • #11,210
  • Jun 8, 2017 10:10am Jun 8, 2017 10:10am
Quoting JoelZx
Hi all, I am a very rookie trader that came across this thread, was wondering how do I set the LWMA and CCI indicators inmy MT4? PLease advise. Thanks in advance
Hi Joel, welcome to fx, hope all goes well for you. The indicators you mention are as follows. The CII is usually set to 8 by Clive, although I see he is using something a little different now. The MA In Color is the LWMA and has to be loaded twice on to the charts and set to 7 or 10 and 35 or 50 whatever you need. I usually use different colors for each MA it is easier to read. CCI NUF shows different colors in -100 and +100. If you need help loading them just post here.
Attached File(s)
File Type: ex4 MA_In_Color.ex4   10 KB | 497 downloads
File Type: mq4 Clive's Histogram CCI.mq4   7 KB | 666 downloads
File Type: ex4 CCI_NUF_v4 mod~.ex4   6 KB | 588 downloads
Galatians VI As you sow so shall you reap.
  • #11,211
  • Jun 8, 2017 4:46pm Jun 8, 2017 4:46pm
Hi Everyone, I notice that the indicators in the previous post have been download a few times, you will find the rest of Clive's indicators (if you need them) in posts 8898 and 8899, link to Top 28 trenders in post 9001. Two very special posts by Clive if you have not already read them are 8353 which is about entries and 9732 also well worth reading.
Galatians VI As you sow so shall you reap.
  • #11,212
  • Jun 10, 2017 3:38am Jun 10, 2017 3:38am
Quoting turnip15
{quote} . (Do you still trade a simple 7 lwma cross as opposed to using two lwma's Clive ?) The two Lwma -10 and 50 currently show up move ? ( Using 5RB Bars) {image}
Hi Neil

Sorry I missed this post yesterday ,but to give you a late answer...

I see the 7 Lwma as the King,as its the money so its always the right direction to trade and as we all know the best time to enter a new trend is at the start. Thats when a candle first crosses the 7 Lwma.

So to answer your question, Yes I'm always looking at the cross of the 7lwma on its own everytime...

However I am now constantly monitoring its position in relationship to the 35lwma. It either has to have just crossed over and pulled back close to it so then I will looking for my flat top/bottomed candles closing across it, moving away from the 35lwma (my favourite entry as with the trend).

But, having said that, if the 7lwma is a long way away from the 35lwma so theres at least 10 pips gap between, them then maybe I will take the quick counter trend trade back to the 35lwma for a quick handful.

But my preference without doubt is to trade just after the 7lwma crossses over the 35lwma , then look for it to pullback towards it. Then enter on next closing candle across the 7 Lwma as this is the with trend trade which will generally speaking not only give you less losers than the counter trend move, but also far more pips so keeping your winners bigger than your losers. A key requisite if you want to become a consistently profitable trader.

Take for example yesterdays London open which gave us two very clear , trading away from the 35lwma trades, so with trend trades entering at the very start of the new trend both times.

Firstly the up move.....

Attached Image (click to enlarge)
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As you can see a nice 100 pip run there....

but then it closed below the 35 and the 7lwma giving us a nice flat top candle back down for another 50 plus pip move.

Attached Image (click to enlarge)
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Which if you caught both should be the end of your session with a nice bagful of pips in less than an hour. Shut down your platform and go enjoy the rest of your day...

So in a nutshell trade in the direction of the 7lwma as its the money...

Preferably after a cross of the 35lwma pulls back and moves away from the 35lwma..

Only trade market opens when the new money is hitting the table and once you've got your money for the day stop!!!!

Hope that helps old friend...
Feel the Fear and do it anyway!!!
  • #11,213
  • Jun 10, 2017 8:31am Jun 10, 2017 8:31am
Quoting clivepackham
{quote} Hi Neil Sorry I missed this post yesterday ,but to give you a late answer... I see the 7 Lwma as the King,as its the money so its always the right direction to trade and as we all know the best time to enter a new trend is at the start. Thats when a candle first crosses the 7 Lwma. So to answer your question, Yes I'm always looking at the cross of the 7lwma on its own everytime... However I am now constantly monitoring its position in relationship to the 35lwma. It either has to have just crossed over and pulled back close to it so then...
Excellent reply Clive. Many thanks for all your hard work and patience.
every Saint has a past. Every Sinner has a Future
  • #11,214
  • Jun 11, 2017 3:37am Jun 11, 2017 3:37am
Hi,

I recently came across this thread, and your mention of entering a trade on a flat top/bottom candle. Then I noticed some of your trades where the candles art not perfectly flat. Can you explain your rules for this entry please.

Also, I have been using the alligator and awesome oscillator for a similar style of trading - ABCD, so I see how both systems compare.

All the best.

raaammy
  • #11,215
  • Jun 11, 2017 6:04am Jun 11, 2017 6:04am
Quoting raaammy
Hi, I recently came across this thread, and your mention of entering a trade on a flat top/bottom candle. Then I noticed some of your trades where the candles art not perfectly flat. Can you explain your rules for this entry please. Also, I have been using the alligator and awesome oscillator for a similar style of trading - ABCD, so I see how both systems compare. All the best. raaammy
Hi raaammy

I'm guessing the entries you are referring to were sometime ago as my "flat top/bottom" candles is a recent addition to my trading as looking back each day I noticed my losers, more often than not, were coming from entering on rejection candles, but not so often if ever on a flat top/bottm signal candle.

I guess its best to say as flat as possible with as small an upper wick when buying as possible . Its really just an exercise in price action and interpretation of what you are looking at. I would say avoid a "rejection" type candle which is a high proportion upper wick on buys and a high proportion on lower wicks when selling...

So bottom line is that I am always looking and reviewing my trades to see what improves my hit rate and in my experience I think a flat as possible signal candle improves my chances of the trade having a profitable outcome...

Hope that answers your question?

all the best Clive
Feel the Fear and do it anyway!!!
  • #11,216
  • Jun 11, 2017 7:55am Jun 11, 2017 7:55am
Hi Clive,

Thanks for the info.

I have as I mentioned been using the AO and the Alligator, and my entries by entering on a change of colour candle from the Heiken Ashi candles.

So I will compare the two over the next week and see how things work out.

All the best.

raaammy
  • #11,217
  • Jun 11, 2017 11:55am Jun 11, 2017 11:55am
Quoting raaammy
Hi Clive, Thanks for the info. I have as I mentioned been using the AO and the Alligator, and my entries by entering on a change of colour candle from the Heiken Ashi candles. So I will compare the two over the next week and see how things work out. All the best. raaammy
That should be a very similar system especially if you are using lwma's in your alligator and heiken ashi candles are so similar to the 7lwma its untrue, a cross of the 7lwma corresponds almost exactly to a colour change on a Heiken Ashi candle...
Feel the Fear and do it anyway!!!
  • #11,218
  • Jun 12, 2017 3:06am Jun 12, 2017 3:06am
Hi, I dont use MT4.

Does anyone have the CCI indicator for ProReal Charts?

All the best.

raaammy
  • #11,219
  • Jun 13, 2017 7:15am Jun 13, 2017 7:15am
Hi Clive,
First of all, thanks for the nice guide. I have been testing your system out the last week, and starting to get a hang of it. However, I am struggling to find the right time to exit the trade. Could you please share some tips when it's best to exit or partly exit the trade?
  • #11,220
  • Jun 13, 2017 9:33pm Jun 13, 2017 9:33pm
Quoting VikingPips
Hi Clive, First of all, thanks for the nice guide. I have been testing your system out the last week, and starting to get a hang of it. However, I am struggling to find the right time to exit the trade. Could you please share some tips when it's best to exit or partly exit the trade?
Hi

Thats the time honoured question we all would like the answer to.....

I think its fair to say that we never quite know when the best time to exit is and we are never really satisfied no matter what the outcome if we leave even 1 extra pip on the table. But the truth is there is no magic solution its all about getting out with at least something as sometimes it runs 20 plus pips and other times you will be lucky to get 5 out of a run..

How ever if you are entering just after a crossover of the 35lwma by the 7lwma and its the first pullback, then theres every chance you should get 15ish pips from it and if you want to chance your luck and hold through the 2nd pullback it could very well be much more. That by the way would be the 5th wave of an elliott wave so not a bad time to bank for sure... wave one crosses over the 35, wave 2 pulls back to it, you trade wave 3, then it pulls back once more wave 4 and the next push is wave 5....

Well thats the theory anyway....

However in truth what I tend to do is watch for the move to falter and fail to take out the next candle top, when that happens I tend to bank, you see if its a good move up then it will keep taking out the candle highs and leave the bottoms alone so as soon as you see evidence to the contrary then its time to exit with your money before the others realise whats going on and leave you holding the baby...

At the moment you can expect some nice quick moves just after the open for 10 plus and then its 6's and 7s for the rest of the morning...

The three exits that you might want to look at are:

1) A set take profit of say 7.5 pips
2) Once its say 7 pips up move stop to lock in 5 pips then trail the candle bottoms/tops until stopped out.
3) wait for price to recross the 7lwma so trail your stop whenever a candle closes back across the 7lwma.

All three of those exits are available in Tristans trade manager that he kindly coded for us all...

As for me ? Well I tend to watch the price action and as soon as I think its faltering I'm out, had too many good moves come out at BE too often for my liking so now its just take some profit from every trade and don't worry about leaving some on the table, because you are never gonna be happy if you do that as its just about impossible to exit right at the top of the move so why worry about it?? get what you can and GTFO....

And remember on these one minute charts theres always another trade just around the corner just a few minutes away...
Feel the Fear and do it anyway!!!
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