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Originally Posted by nesalc
Good Day Traders
Can anyone verify the success of the cci within the contents of catfx50?
Thanks in advance.
Nesalc  |
Hi Nesalc,
I trialling the use of technical
CCI50 Exits for CATFX 50 - I have attached a picture
I use
CATFX50 entry system only with a break of trendline as confirmation ( although CCI50 entries based on cross of +/ -
50 line and also 5014 trades work as well - I trade this seperately )
Some thoughts :
- If you accept that the CATFX50 is getting us onto a decent move then using a smaller timeframe on the CCI such as a 14 period will get you out early. If you follow the Woodies CCI style trading ( CCI momentum trading short time frames) this is fine - I am still checking this out for longer periods.
- I am having a look at the use of the CCI 50 200 line to get out on rejects of the line and re - cross's of the line. A very basic method, but a visual only inspection of charts back over the last couple of months seems to show some consistancy.
- The CCI ( and RSI & %R etc ) can be used as both oscillators and trend detectors depending on your intepretation, ie add support lines or moving averages so thats what I am attempting to experiment with.
- Martin Pring often suggests taking a profit target at x ( say 7-10 pips) on contract 1, take an exit on a momentum indicator on contract 2 (say CCI50 re-cross of 200 line, RSI whatever ) and final exit on cross of an moving average ( say a 50 period Hull ma or 5 offset 3 exponential )
- Of course you have your stops in place and are locking in some profit along the way !
Anyway good luck...[/list]