Using CCI to Make a Living Off Forex - page 19
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Here is my proposed refined Forex Strategy:
1) Place Hull Moving average of period 20 on Daily. Trade only in that direction.
2) First step before placing an order: ToR sees a spark in trend across correlated pairs in same direction,
3) Second step before placing order: Confirm market push by 5,3,3 or 8,3,3 stochastic on 1 Hr and 4 Hr and 20 Hull MA changes color to same direction.
4) Exit when Hull MA changes to opposite direction.OH JAMES, OH JAMES WELCOME BACK,
Missed you man. WELCOMMMMMM.
Thanks
Deedee
Nigeria
Hi James and welcome back
I have been reading this thread from the sidelines with interest.
A simple question for you: If you have been trading this system for a couple of years and earning a living from it, why are you trying to modify it so much? If you had a working system perhaps it would be better to develop some simple indicators that back up your original system and make it easier for all to use.
Anyhoo please keep up the tireless work, it is great reading about a system that is actually being traded.
Cheers
I posted the strategy so I can work on actively improving it and getting feedback on it. I traded the first not modified CCI strategy but I found more reliability through the refined version.
I just posted a new strategy called "The Power of Psar", maybe someone with more technical skills and creativity can blend both strategies if they indeed can work together.
the rules
hi, I just joined the thread, can soemone please post the current rules which is being followed? Sounds interesting, thx
possibility for updated indies and tpl? perhaps a new layout for the plan as things have updated but the entire strategy could be addressed at this point?
There have not been any new updates to this strategy as of yet. This strategy is a good framework to understand Forex and to instill patience before making a trade. The rules are the unchanged.
To summarize in a few words, the rules are as follows:
1) Wait for ToR to allign across all correlated pairs and timeframes.
2) the trigger to make a trade is the alignment of either the non lag MA a Hull MA to confirm the direction of ToR across the timeframes and pairs.
3)Make the trade. Exit when the MA changes direction.
I have been looking at the indicator Squeeze Break. This might be the long awaited solution to finding an all in one USD strength indicator that will confirm USD stength across all correlated pairs that this strategy takes into account.
It works as follows:
When the histogram is above zero, it means that the bolinger bands are outside of the Keltner channels. This signifies market movement is active and non ranging. When the histogram is below zero, it means that the market is sideways and less predictable. I find this indicator to be very useful in spotting sideways markets and trending ones.
Add any feedback on it after testing it.
Ok i get the 15 30 and 1h need to switch to green on proper pairs to buy and such but what do we do with the 4h and d1 in the ToR indie.
Exp. 15 30 1h goes from red to green, nonlag turns blue, all pairs line up and im going to buy, what role does the 4h and d1 ToR play here.
the 4 HR will switch to Green later in the trade signifying CCI broke above zero. The Daily CCI will change to green from red if the trend is strong enough and lasts. So dont worry about the Daily CCI or 4 hr CCI when making a trade.