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Trading without the CCI is suicide or is it???
My "discovery" of the CCI-oscillator, changed my world from entering trades late or taking stupid entries and wiping out my account, to averaging 600 pips/ month consistently over the last 15 months.
My dilemma is the following:.......The CCI-6 ("turbo")[cci-t hereafter] "overheats" at the 180%-level (max of 200, but 180 is more accurate) and almost immediately the price changes direction or go sideways until the cci-t has "gathered itself" and returns to the overall direction of the trade. The return makes for an excellent entry without the "stress" of having to sit out the retracement. (Woodie followers will know that he uses the cci-t for trendlines only, but it has saved me from disaster too many times to be ignored as an entry tool or at least selecting a better price).
What has been eroding my pips and therefore I am leaving "far too many pips on the table", is the fact that the cci-t will overheat and I don't enter the trade in spite of my signal generated, only for the trade to take off!! Most annoying!!
Today, 23rd February 2006 is a case in study:
On the 5m-chart GBP/USD @ 00:50 am EST the cci-t overheated and again @ 1:10 est / 2:15 est / 3:00 est / 4:05 est / 5:15 est and yet the price kept on climbing through the roof!
Attached is my screenprint for your kind perusal and comment. I use the 50-ema as per Nina as criteria for correct entry and is the AQUA-line. Underneath is the 300-ema in white which represents the 50-ema on the 30-m chart. Also I use 2 x LSMAs set as 21 and 34 which works best for me and leaves no doubt as to exits.
Also, the AscTrend.
You will also see the SDX_Breakout and the Dynamic-RS which I can highly recommend - even for slightly later exits, but fool-proof!
The Oscillators are the Woodies-double-cci; the FX_Offtrend; and the ZLS set according to my own personal settings and added over it, the 5-LWMA in Green.
Bottom left hand side you will see a white vertical-line on the Asctrend signal at 04h15 on my chart (11:15pm est) and the very next candle you will see my signal in LIME as an Arrow-head just protruding.
Technically I should have entered on the 05h50 candle on my charts and stayed long all the way. The cci-t overheated here and from there you can follow the process. What made the difference in the end when it finally broke out on an overheated cci-t on the 09h05 candle and breaking through the SDX-line?
Please can you all assist me in overcoming this dilemma that is not only eating my profits, but also my heart.
I await your very kind assistance in this regard.
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