Using CCI to Make a Living Off Forex - page 7

Thanks altoronto! This will definitely be very useful. I will look forward to your updated EA.

I like your system and It would be great if you update this thread with your daily trades and explain your entries so we can learn from you.

I will try your strategy on a demo account and I hope I can trade it live soon.

How did you come to the idea to make such a strategy, cause I saw a lot of strategies here and on the forexfactory forum but I think your approach is unique with measuring the dollar strength.

You say you make a living with it? That means you can earn enough money with this strategy to live from it ?

I hope I don't bother you to much with my questions, but we (the not profitable traders) are always skeptical to those who claim to make a living of this business.

I'm looking forward to your answer.

Yes, I was inspired to make this strategy because when I make a trade I want to know why I am making it, how sure I am of my trading direction, and I want to know how strong the move will last. I learned a while ago that the market most of the time (85%) moves at once. The rest of the time, it is flat, unpredictable, or erratic. (Not Tradeable)

Some chart time, and alittle knowledge of Forex will show you that USD is the core of the currency market. When USD moves, so do its correlated pairs. Many trading strategies, even Price Action ones are trading in the blind. If you dont look at the market by its true strength, then you are trading recklessly. Most traders are mice in a large city, only looking at their immediate space. This is why I think 95% of traders fail. And yes I do trade for a living. Know how this system works and you will be trading for a living too. It is easy, aslong as you have something to distract you in the slow market periods.

Trading example

Below is an example of a CCI trade.

Both CCI periods exit 100 and Non Lag MA changes to red.

Empty post

Improved strategy, deleted old trade screen shot to not confuse traders.

New Trade I have just taken

Improved strategy, deleted old trade screen shot to not confuse traders.

Hi James,

With regards to using ToR to assist with the analysis of the USD strength, is it correct to say that the "real high probability" trade setup is better if the trend is up / down for the Daily, then 4H, then 1H....

Basically what I am trying to ascertain here is whether the higher time frames hold stronger relevance over the lower ones. I had a situation where I saw the EURUSD doing the following.

15Min, 30Min, 1Hour all Up with the 4H and Daily both down. Both the trend and trigger CCI had just crossed from below to above the -100. The correlation between the USDCHF and EURUSD was 100% in accordance to their correlation rules as well (in other words I saw the same attributes in reverse on the USDCHF)

Would this be considered a feasible buy setup? Or would it be too risky?

I suppose this question could also be asked of the following: (Assume correlation is in affect)

- 15M, 30M, 1H all down

- 4H, Daily UP

- Trend and Trigger CCI have just crossed from below to above the -100 level (and by crossed I mean that they have moved up with momentum and not just touched)

Would this also be considered a feasible buy setup?

Cheers

Codex

Codex,

Those would be the correct buy setups.

In review to clarify, here is how I would define a buy setup in my words.

ToR shows both CCI periods above zero in 15 M, 30M, 1 HR. 4 HR tf exits -100 with Non lag MA changing to a buy color. Check to see if correlated pairs are consistent, and Usd Chf is the exact opposite. When all is in sync, make a safe buy trade, and trail your stop.

To me, if ToR is not in sync, then I dont even look at the charts or even think of making a trade. The market only moves a few times a day, and less in a 4HR chart. So I consider this the only way to trade, not the as the best trade you can take, it is the only way you can trade with this strategy.

Excellent, thank you James.