Thanks Bill,

we should all look at different indicators out there, and work with the mighty pimp.

one thing i am unclear about is how to get the charts up like yours showuing the cci cross etc
i have loaded the indicators etc and i dont get the charts like you do, can you explain please

Thanks
Paul

Okay Endy, thanks for the clarification. I was just wondering if you were including your indi somewhere in the exits.

EA sounds pretty powerful, good luck with your work.

Thanks again and Happy pipping,

__________________
Fx Diva

hello lady and gents,
if you guyz don't mind, i have a few of questions about endy's strat and pimp's strat

endy, where's the stoploss for ur strat?
i've always been uncomfortable with buying on retracements when price is travelling down..cos i always have a fear that they'll turn out to be reversals instead..
am i missing the point? or do i have a valid concern?
would it be better to enter in the reverse order instead when price is coming up? like from the 50sma 4units, the middle 3units, then the 20ema2units?

fxdiva, just to check
i'm using ibfx as well, and there are a lot of pairs missing, which are needed in endy's indicator
do u just go ahead and use the indicator anyway? or did u switch to another broker?

and just to clarify pimp's strat,
(seniors pls help me out here if zak's busy)
are there a ranks of importance among MAs, TL breaks, chart patterns and the CCI?
like for example, yesterday there was a flat top triangle on the GBPJPY.
there was a downside break but the trend was up, pivots and MAs from 1hr and 4hr were all under price.
so i decided to stay out.
it might have been a bumpy ride, but price still managed to fall right through them a long way
would it have been prudent to ignore the MAs and take the break?

how important is the CCI past 200, a signal not to take a trade?
if i see price break out from the day high or a 15min chart pattern or a major support/resistance level with a nice 1-2-3 on the 5min, but 5min CCIs are past 200
what should i do?
should i look at higher timeframe CCIs and take the trade when they're not past 200?
or should i pass on the trade?

sorry for all the questions
my trading's pretty bad lately, not identifying good setups and taking lousy trades.
need a little clarity and help, thanks!

It is "below" retracement region (for long trend). So below SMA50. At the moment, I am looking for a presence of important price level below SMA50 (daily/weekly pivots or MAs from higher TFs) and I put SL below these levels.


You are not missing the point. That's exactly what we all fight with I think.
Is it retracement? or Is it reversal?
That's when the currency strength measurement come in handy and if the strength is really good, the probability of reversal is smaller (although it must come sooner or later).
Regarding reversed order of buying units, just look in the eurusd, last time it hit SMA50 it was on 10th Dec (that's 8 days ago).
Since then, it traveled 1.5k pips.
However, EMA20 was hit almost every day since the trend begun.
So do you want to enter only once ? or mabye 5-6 times?

bye,
endy

Bloom

Many thanks for the warm welcome to the club.

I took your advice, followed PIMPs eurchf down yesterday (from the YouTube post). I entered three times, as suggested. My results were +197, +176, +125 (all at 50p mind, which is my stake size now for everything, until my trading account can afford to lose higher value stakes)

So thats me dusted!

I also took yetserdays pm (live room) audjpy, which was stopped out for a loss and this am (YouTube) I took another loss on chfjpy. However in the live room this am I took usdjpy for a quick +80, without really looking (I didn't expect it to have moved so quickly, when I went to check it it was closed!)

So, some up some down, but at small stakes I can afford to carry on learning. I find I don't really learn anuthing with my demo account!"

keep up the good work
happy & sucsessful trades to all

Paul

Okay. Question here. What way would you trade gold at the red vertical line in these 15m and 1hr charts?

Long, of course. Right?
chart.gif

chart1.gif
WRONG. I went short on the break of the 1hr20ma. Never got past my spread and a very quick -30 pips. Now -150 from my entry.
Oh, forgot to mention it was a perfect KHT strategy trade. STUPID

__________________
Honest Bill

Impressive Bill. A 100% KHT when it never even covers your spread. Well done for owning up.

In the spirit of honesty, I had taken CADJPY short yesterday. Entered my SL at 7340, saw the chart price go through it so quit for the day. Logged in today to see I had entered the SL at 7740 (I hadn't even been drinking!) and my trade had been rolled over. Having taken the -60 on the rollover I was down another -40. I then watched it move into postive territory for the rollover price, got greedy thinking, ha I'll get you back you buggar, to see it slip back to -40 again. Bill told me to wise up and cut it, so set my limit at rollover price and eventually sneaked out BE and -60 overall.

There are so many ways to slip up in this game. In the past I've bought when I meant to sell, and have traded USDJPY looking at a USDCHF chart. This was a new one though. So I'll be checking my accounts for open positions and orders to open before shutting down.

Bloom

I don’t want to stray too much here from the strategy. But, to answer the question, here is what I did:

Note: It seems long winded, but you only need to do this once. It’s a simple chart too, so not much CPU usage.

1. Copied my C:\Program Files\MT4_ODL folder
2. Pasted and renamed it as C:\Program Files\MT4_FIBO
3. Unzipped and dropped this file currency_strength.zip into C:\Program Files\MT4_FIBO\config
4. Dropped this file currency_strength_endy.tpl into C:\Program Files\MT4_FIBO\templates
5. Dropped these 2 files !cci_sum.mq4 !cci_dif.mq4 into C:\Program Files\MT4_FIBO\experts\indicators
6. Opened C:\Program Files\MT4_FIBO\terminal.exe
7. Closed all charts.
8. Opened a new chart (any pair)
9. Loaded template currency_strength_endy
10. Right click on chart, indicator list.
11. Double click !cci_dif, then inputs tab.
12. Change to whatever pair you want. Et Voilá!!!

__________________
Honest Bill

It would be great if these pairs were in a drop down menu to choose from. . . can't remember how to program it.

Happy pipping,

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Fx Diva

By 7:45am. I was -30. That put me on the back foot for the rest of the day. I just couldn't get focussed.
Bloom collecting +200 today (and not forgetting the +0.5 on your last one). And there were so many people collecting lots of pips in the live room today. Excellent stuff.

The dustdown is so important. But, even more important is staying out of the KHT's. There was absolutely no need for me to take it. There were so many more opportunites later.

Okay, I'm dusted down and ready to take on tomorrow!!

Byeeeee!

__________________
Honest Bill