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thanks for the support with broken bot. it seems to be out the way now so if you'd like to continue then let the games commence.
Regarding real or fake or dummy or demo accounts, one of the biggest issues I originally had was emotions coming into the trade.
I knew the trade was right. I knew the timing was pretty good, but I lost money as I became emotional and it didn't do exactly as it was supposed to straight away.
I went back to the drawing board with my tail between my legs and started once again with a demo. The emotion went almost instantly and it felt like a huge weight had been lifted of my shoulders.
"how can i replicate this feeling with real cash" I often asked myself.
Truth is you can't manage to do it 100% but you can have a good stab at it.
Think about it. If you are playing with a stake of 1p or 1c per pip, do you care about losing 50 pips? No of course you don't!
It's all about percentages so as long as you are risking no more than top whack 5% then regardless of 1p or 500 pound a point it's still 5% of your bank.
Do yourself a favour and trade real cash like it's a demo!
Begin with 200 quid and build it up. Remember that there is only 200 pounds of your own money in that account, even when it sits at 50,000.
Become attached to money and misery will be eagerly awaiting your arrival at the gates of depression!!
Can you explain do we need to wait a crossover on a 5m chart, for the correct order ma's stacked neatly, 4/20/60 to pass accross 150 moving average, for example if we looking for short we need to wait this ma's stacked neatly, 4/20/60 to pass accross 150 ma down and to enter in trade (short) only if this 3 ma's are below 150 ma.
Thank you
Hi Guys,
To help understand the 5m Chart you simply MUST know what all the averages are first. Once you have established whether the 60m 20 is above or under the 50 then you can decipher how long or short the trade is likely to last.
Please do not think for one moment that you will need nothing other than the 5m chart. That is the lazy way out and will cost you money.
However, it does work.
Take a look at the snippet here.
1st objective is to establish order.
In the 1st eclipse the 5m 20 has crossed the 15m 20. The 15m 20 is close to crossing the 15m 50 and the 60m 20 is just above offering protection.
This is trading with the trend.
The secone is against the trend and the minimum requirement is that the 5m 20 has crossed the 15m 20.
In this instant more often than not you will have the 15m 50 as your target 1, then the 60m 20.
Once you have a cross of your 15m 20 and 50 you are all set for targeting the 60m 20 and 50 then the 4hr m.a's
as I have said time and time again please backtest this so you see for yourself.
then and only then will you gain a deeper understanding.
A Little hint is to watch closely the 63CCI on the 5m !!
I hope this helps
__________________ I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session
To help understand the 5m Chart you simply MUST know what all the averages are first. Once you have established whether the 60m 20 is above or under the 50 then you can decipher how long or short the trade is likely to last.
Please do not think for one moment that you will need nothing other than the 5m chart. That is the lazy way out and will cost you money.
However, it does work.
Take a look at the snippet here.
1st objective is to establish order.
In the 1st eclipse the 5m 20 has crossed the 15m 20. The 15m 20 is close to crossing the 15m 50 and the 60m 20 is just above offering protection.
This is trading with the trend.
The secone is against the trend and the minimum requirement is that the 5m 20 has crossed the 15m 20.
In this instant more often than not you will have the 15m 50 as your target 1, then the 60m 20.
Once you have a cross of your 15m 20 and 50 you are all set for targeting the 60m 20 and 50 then the 4hr m.a's
as I have said time and time again please backtest this so you see for yourself.
then and only then will you gain a deeper understanding.
A Little hint is to watch closely the 63CCI on the 5m !!
I hope this helps
Thanks Zak this is nice explanation. For this I asked (In the 1st eclipse the 5m 20 has crossed the 15m 20. The 15m 20 is close to crossing the 15m 50 and the 60m 20 is just above offering protection).
Click on the paper clip. You have to enable pop-up in you browser's setting.
Salat
Nice of you to point me to the paperclip. Only one problem and that is I have no paperclip. Have posted on many forums and never found one like this. Also impossible to change my avatar. Strange at the least but maybe they are afraid I put on strange things.
A potential EUR trade and my thoughts behind the same...Wud request Zak to kindly comment.
One hour chart.
According to this chart, CCI 84 crossover to downside signalled a downtrend on 4 hr chart.The blue vertical line shows it. At that point of time though, the MAs were not cleanly stacked and neither CCI 21 was down.
At the red vertical line, the CCI 21 crosses down and all the MAs are stacked properly.5/20/50 in this order.
Switching to 15 min chart at that time, We see the MAs in 15m chart stacked properly. the CCI 21 is down and CCI 84 is moving down.Using CCI 7 as the trigger, a short trade was initiated at close to 1.3305 levels, with SL as 50 SMA on 1 hr chart or the thick blue line on 15m chart.That would be like 35 pips of risk.
I think your explanation and rational was spot on. In my mind the key question, on the journey to becoming a decent trader, is why were you focused on that chart in the first place? What was it that caught your attention and made you focus in on this potential set up?
also, without turning the MA system upside down I have adapted my MA colours so the 3 most important MA's on the screen are traffic light style red, amber, green. I can see instantly if they are stacked correctly because we are all conditioned to see these colours in order. I also use blue as my longest timeframe as it seems to spend the majority of it's time at the top or bottom and reminds me of sky or sea (top and bottom).
I think your explanation and rational was spot on. In my mind the key question, on the journey to becoming a decent trader, is why were you focused on that chart in the first place? What was it that caught your attention and made you focus in on this potential set up?
also, without turning the MA system upside down I have adapted my MA colours so the 3 most important MA's on the screen are traffic light style red, amber, green. I can see instantly if they are stacked correctly because we are all conditioned to see these colours in order. I also use blue as my longest timeframe as it seems to spend the majority of it's time at the top or bottom and reminds me of sky or sea (top and bottom).
Might be nonsense but it helps me
Cam1965,
From whatever i have learnt about this strat from ZAK so far, I could make out that playing with the higher time frame trend is always useful and profitable.
Now, since I was looking for an intraday trade, I started with a 1 hour chart. The CCI 84 indicator there helps us decide the 4 hour trend. In the pic that I posted, you can see that at the Blue vertical bar, CCI 84 crossed down.
But, CCI alone cant help you decide the trend and shouldnt be taken alone to trade by newbies(like me). The MAs at that time werent stacked up in correct order and thus I waited for them to do so.When the CCI 21 crossunder of zero occurred, the MAs were stacked in correct order.
It was then that I dropped my chart to 15 mins to enter a trade.
once on 15m chart, we were sure that both 4hr and 1 hr trends are down and they are behind us to support our short trade.
A proper set up of MAs, with CCIs down and trigger helped us enter the trade.
The trade went 50 pips in our favour in less than 8 hours.
Now here is something I want to know from more expd members of this strat. When do we finally get out of this trade?My initial SL was the 200SMA on 15m chart which is 50SMA from 1 hr chart.But if I would have waited that long to cover, I would have ended with losses. i however, covered my half lots at 30 pips and half at the entry price to prevent the profits.
But I wud request thoughts on this isue please.
Linear Mode
