Using CCI to Make a Living Off Forex - page 10
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
wahloi, it may be advisable for you, at least for little while, to watch your charts, getting chart time and feel for the CCI indicator will only benefit you more and assist you in becoming a better trader.
Getting the alert on the trigger CCI (8) when it has touched the zero level is still not enough to just use and enter into a trade. There is a human component here. You will need to verify the correlation between the various pairs (5 in the case of this strategy). The more correlation that exists between the EU, GU, AU, NU the better, and then obviously you want to make sure that there is negative correlation for the USDCHF when compared to these 4 pairs). (One of the more impressive attributes about this strategy is the fact that it takes into account the currency strength when trading)
Cheers
Codex
How could you guys compare using RSI to CCI?
I am going to simplify the strategy some more, since I feel some steps in the strategy are unnecessary. I am going to take off the need for CCI 14 to exit the 100 level, and for CCI 8 to exit through zero in the, or the 100 level too. This is because, when ToR shows strong movement across all timeframes, and related currency pairs, and Non Lag MA changes color, a trade must be made, no matter if CCI 8 or 14 exit the 100 level or not. The only CCI level that matters is the zero line on the lower timeframes, since this is how I determine the U.S. dollar strength.
How did you set the Non Lag MA? length? deviation? And then could you write in you first post the final strategy?? Im a little bit confused
Thanks for sharing this strategy!!
Current state
Is my current assessment of the pairs looking at CCIs across MTFs.
UC is down.
NU ranging, slightly down
AU is up
GU is down
EU is down
Based on the fact that we have mixed correlation with UC there would be no real move expected and no trade? Or do you pick one that is strongly opposite UC and trade that one and UC in opposite directions when the MTF all align on the CCI8s.
Question comes down to how much do you wait for all to correlate vs looking at individual strong moving pair? I know some of this will come with experience with the system but when you have the master of the system on the forum and there is a certain human element here, all the insights JTG can provide are priceless.
You have to wait for all pairs to correlate. If GU and USD CHF are showing strong opposing signals, it doesn't really mean that GU or USD CHF will start moving. It just means that they want to. Its not until all pairs are aligned that it is safer to trade. I have seen a few pairs align, to just find the strength dissipate rather quickly. When all pairs are strong, then the trend will last.
You have to wait for all pairs to correlate. If GU and USD CHF are showing strong opposing signals, it doesn't really mean that GU or USD CHF will start moving. It just means that they want to. Its not until all pairs are aligned that it is safer to trade. I have seen a few pairs align, to just find the strength dissipate rather quickly. When all pairs are strong, then the trend will last.
Would be great if you could take the time and update the first post with your strategy or write a pdf with all the rules, tips and your experience to trade this pair. This way we would avoid to repeat our questions and make it a big thread with lots of people asking the same questions.
Your system looks very promising, I'm making currently about 60 pips on demo and 30 pips on a micro live account.
Thanks for sharing James and I hope we make a lot of pips with it.
Good idea. I will update it after the Winter Break. Vacation for 2 weeks.
Hi James,
I thought it was common knowledge that:
1. AU, EU, GU, NU are correlated, where EU and GU are strongly correlated with each other and AU and NU are strongly correlated with each other.
2. Only EU and GU are strongly inversely correlated with UCHF.
So can I suggest an improvement to your strategy, only a suggestion, you don't have to take it on board?
1. Only have to wait for pairs in point 1 to match correlation before jumping into a trade in either AU, NU.
2. Only have to wait for EU & GU to match correlation and wait for UCHF to show negative correlation before taking a trade in EU, GU, and/or UCHF.
I suggest these as waiting for everything (for a long time) to match up may make you miss a lot of good trades, but I do see the side where it is safer for everything to match up with UCHF doing the opposite.
P.S. - AU is strongly inversely correlated with UCAD and UJ, where UCAD and UJ are strongly correlated with each other.
Im a little bit of confused. When CCI periods go above zero (0 to 1XX)in 15 M, 30M, 1 HR and Usd Chf is the exact opposite. Then should I buy gu au eu nu and sell uc or opposide sell and uc buy.
Here is a nice trade I made 2 days ago and its still open. I got in late but I switched down to lower time frames and saw the retracement and a strong downtrend so I still entered the trade.
Seems like the market is choppy today with no clear direction on the time frames we are monitoring. Maybe it would be a good idea to stay on the sideline today?