Simple and Profitable - page 6
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
A picture always helps
See here.
COTtrader
Looks good do you have an EA to test this. If so please forward it so back testing can be done on it. Thank you
COTTrader,
What is your target point level and when you enter the trade?
Looks good do you have an EA to test this. If so please forward it so back testing can be done on it. Thank you
Hi, as per your PM, here is the EA that I wrote for steven. I only write is so I don't have the best setting. Hope someone could play with this EA. Hope this help
Daily CCI "Target point"
COTTrader, What is your target point level and when you enter the trade?
Hi, Adria:
By 'target point' do you mean the 'take profit' point? In this case, it is only 30 pip per SteveAli's instructions. However, a 45 max pip stop loss would be necessary to stay on the winning side of those trades in the above picture. Good MM would require a risk equal to the supposed win. Therefore, 45 pip would need to be your TP point.
The day marked with the red line was the only loosing day during this period. Anyway, the general probability of win to loss ratio looks promising.
COTtrader
Hi, as per your PM, here is the EA that I wrote for steven. I only write is so I don't have the best setting. Hope someone could play with this EA. Hope this help
Hi Dave,
I thought you might be interested in the following.
Setup - This is based on StevenAli's idea, but without using the RSI. Instead use CCIs. They tend to indicate price movement better, especially when using the following three together (cci 6, cci 14, cci 25).
TF = H4
Objective - 50 pips total a day on the 4 majors = 200 pips p/day.
The TP total per pair is 50 pip. (2x ten pip positions and 2x fifteen pip positions = 4 positions per pair)
Entry - Enter at GMT+2 (Switzerland or 1 hour before London open now +1 GMT) each trading day in the direction of the CCIs when in agreement. When the 3 CCIs are not in agreement, then use the KiS Average (dotted red line on chart) to finalize trade direction.
I estimate you would be on the right side of the trade 90% of the time.
Exit - Exit the 4 entries of each pair that day when the Take Profit is hit or if the SL 50 is hit first.
2x 10 pip = 20
2x 15 pip = 30
____________
Total pip = 50 pip
*4 entries are taken per pair, but only 20 pips (this inclu. the spread) are needed to equal the total 50.
Essentially, the probability of this setup makes capturing 20 pip (inclu. spread) very likely. Most brokers allow you to enter a trade that will TP in 10 pip. If not, it is very easy to work around that using this setup.
TP = 50 Total (2x 10 = 20 pips / 2x 15 = 30 pips)
SL = 50
Indicators:
KiS Average -
Value 0 = orange
Value 1 = (no color)
Value 2 = orange
NonLag MA (v5) -
Value 1 = Medium Orchid
Value 2 = (no color)
Value 3 = (no color)
PChannel_m3 -
Range = 6
TF = 240
Value 0 = (no color)
Value 1 = (no color)
Value 2 = White
CCIs (all TF = 1440 or Daily)
CCI 6 = (1440) Yellow
CCI 14 = (1440) Aqua
CCI 25 = White Smoke
Longer Term Trade -
*The 2 additional indicators on the Chart are the Non-Lag MA (v 5) and the PChannel_3. If you want to stay in a position longer, check to see whether these are Xcrossed. If they are, you may want to stay in a trade much longer until the close of the second bar or even third bar.
Template Here
I had to separately post the template.
COTtrader
I may have to wait until tomorrow to post the template. My five files (maximum per day?) were already uploaded in my previous post. Sorry about that.
NO PROBLEM! Here is the template.
Hi stevenali
How is your system performing? You didn't post any reports lately.
Please post updated reports.
Did you find any good pairs for this strategy?
Thanks.
Hi Dave,
I thought you might be interested in the following.
Setup - This is based on StevenAli's idea, but without using the RSI. Instead use CCIs. They tend to indicate price movement better, especially when using the following three together (cci 6, cci 14, cci 25).
TF = H4
Objective - 50 pips total a day on the 4 majors = 200 pips p/day.
The TP total per pair is 50 pip. (2x ten pip positions and 2x fifteen pip positions = 4 positions per pair)
Entry - Enter at GMT+2 (Switzerland or 1 hour before London open now +1 GMT) each trading day in the direction of the CCIs when in agreement. When the 3 CCIs are not in agreement, then use the KiS Average (dotted red line on chart) to finalize trade direction.
I estimate you would be on the right side of the trade 90% of the time.
Exit - Exit the 4 entries of each pair that day when the Take Profit is hit or if the SL 50 is hit first.
2x 10 pip = 20
2x 15 pip = 30
____________
Total pip = 50 pip
*4 entries are taken per pair, but only 20 pips (this inclu. the spread) are needed to equal the total 50.
Essentially, the probability of this setup makes capturing 20 pip (inclu. spread) very likely. Most brokers allow you to enter a trade that will TP in 10 pip. If not, it is very easy to work around that using this setup.
TP = 50 Total (2x 10 = 20 pips / 2x 15 = 30 pips)
SL = 50
Indicators:
KiS Average -
Value 0 = orange
Value 1 = (no color)
Value 2 = orange
NonLag MA (v5) -
Value 1 = Medium Orchid
Value 2 = (no color)
Value 3 = (no color)
PChannel_m3 -
Range = 6
TF = 240
Value 0 = (no color)
Value 1 = (no color)
Value 2 = White
CCIs (all TF = 1440 or Daily)
CCI 6 = (1440) Yellow
CCI 14 = (1440) Aqua
CCI 25 = White Smoke
Longer Term Trade -
*The 2 additional indicators on the Chart are the Non-Lag MA (v 5) and the PChannel_3. If you want to stay in a position longer, check to see whether these are Xcrossed. If they are, you may want to stay in a trade much longer until the close of the second bar or even third bar.The million dollar question I have for you is how did you put all the CCI in one window?