very interesting System

[gopala]

Hey Guys,

There is another very good strategy that only uses 2 CCI's. And if you guys have not guessed it yet, I have an addiction for this indicator:)

 

This is a 4 hour strategy. Personally I never really like 4 hour strategies, but after doing a simulation test last night using the FML trading simulator for MT4 (FML makes use of existing data in your MT4 history, so it's 100% real. You just cannot use this simulator to test EA's) I was quite literally blown off my seat at it's raw simplistic nature.

I have also attached his template (which is in the zip file) and the Tor indicator that he talks about. I have also attached a copy of the FML Trading simulator for anyone interested.

 

"I have used CCI alone to make a living off forex the past few years. I have felt very comfortable with CCI from when I first placed it on my charts and I know how CCI reacts to extreme levels and to zero line rejects.

 

I am sharing this strategy because it is simple, yet takes alot of experience to manage. Yet it might catapult some new trader a few years ahead and teach him 10 or 12 things.

 

This CCI strategy is based on the overbought level and on the zero line.

 

Place CCI periods of 14 and 8 CCI on your chart. You dont need any fancy CCI indicator, just the plain one from your Mt4 chart.

 

Place a trade when CCI 14 exits 100 lvl, and CCI 8 exits 100 as well and/or exits the zero level.

Or place a trade when both CCI's exit from zero level around the same time.

Exit the trade when CCI 8 exits the zero level.

 

This strategy is easy, works and is all you need in forex. You dont need to look at many time frames, or any fancy indicators. Only thing that will make the difference between any 2 users of this strategy, are which time frames they choose to trade on. Trade anytime frame over 1 hr and you will be good, anyone below, and you are susceptible to ranging markets pushing and pulling you into bad trades.

Who wants to be looking at a chart all day anyway? More trading wont make you more pips, so why give in to the urge to over trade? ( SCALPERS)

 

And a little word of advice, make your background yellow so to stimulate awareness and to feel as ease when trading. Nothing could make more of a change in your trading.

----------

I trade the following pairs with this strategy since they trend well, and correlate even better.

GU,AU, EU, NZD/USD and USD/CHF

 

When I see a long GU, and then a long AU signal, but EU or Nzd Usd shows sell, then I wait on the sell pairs, and wait for them to become buy setups since the USD trends in one direction, and pushes the rest of the pairs either up or down, such as if the dollar is in a downtrend, then GU, EU, AU and NZD/USD will be buys, and USD/CHF will be a sell setup.

I will attach ToR, which stand for trending or ranging. It will show CCI 8 and 14 over all the time frames from 15 to daily. This will help you determine if the dollar is strong or weak at the time, and if you should wait on buy or sell setups with the rest of the pairs by seeing for instance if EU,GU is up on all time frames, and Usd Chf is down on CCI periods across the board."

 

ATTACHED FILES:

http://www.megaupload.com/?d=SJEWJ6VX

 

http://img121.imageshack.us/img121/4700/cci.gif

[gopala]

Attached Image:

http://img221.imageshack.us/img221/7567/ccinifty1.gif

[execution]

it would be better if on pictures you can show some arrows of entry and exit

[conglo]

Yes, please, the rules as stated seem a little contradictory.

 

it would be better if on pictures you can show some arrows of entry and exit

[newbie111]

Thank you for the great share gopala. I am very interested in learning more from you about trading from the CCI.

To make a living from it, you must be successful at it.

 

For example, you mentioned that you traded for years fromm the CCI before you found this method and don't really like 4h time frame.

 

Please teach us how you traded before this. I want to learn as much as I can from those that are successful already. Any help that you can give is greatly appreciated.

Edited December 18, 2010 by newbie111
Spelling

[Freddie]

Yes, many thanks Gopola for the share.

I would join with the others asking for the signals to be shown although it seems evident to me that the entries are when both indies cross up or down over the first of the oscillator lines ie +100 or -100.

That, of course would be an 'adventurous' strategy whilst waiting for a cross of the centre line would be conservative but safer trade.

Exit signals I don't bother with, I just get out when it threatens to turn against me.

[gopala]

I've studied the CCI and have concluded that key levels are in multiples of 50 (+/-50,100,150,200,etc.). Your period setting dictates how high it will go, but usually not over 400. It can be a hard one to tame, but used correctly and reverently, it can be one of the best.

[vuser06]

big thank god sistem Edited December 19, 2010 by vuser06

[learnnew05]

I've studied the CCI and have concluded that key levels are in multiples of 50 (+/-50,100,150,200,etc.). Your period setting dictates how high it will go, but usually not over 400. It can be a hard one to tame, but used correctly and reverently, it can be one of the best.

 

Thanks For the system buddy. Can you please explain a little bit more on the entry and exit rules.

From the explanation it seems the entry is based on a combination of CCI 14 & 8 and exit is only based on CCI period 8 crossing the Zero level. Is that correct?

Also what is the recommended stop loss based on your experience.

[bragmed]

thanks for sharing, would you mind sharing the TOR 1.25 indi

 

Thanks

[smurf43]

thanks for sharing, would you mind sharing the TOR 1.25 indi

 

Thanks

 

it is already included in the download link in the first post

 

hxxp://www.megaupload.com/?d=SJEWJ6VX

[mtuppers]

here is org system at forex - tsd dot com

 

hxxp://www.forex-tsd.com/manual-trading-systems/28215-using-cci-make-living-off-forex.html

[⭐ megashop]

very good system... thanks

[gopala]

Hi guys,

 

Quite interesting that no one here has tried this strategy out:) Maybe give it a bash on demo account,

and if you do, please make sure that you are wearing a human size nappy, cause what follows over the next hours will probably cause the release of bodily fluids (and this is all I am saying for now $:)$ )

 

Do not fear the 4 hour chart like I did, embrace them. (And if you have been following the Woodies-CCI system, then picking this one up is even easier, just 2 patterns ZLR and HFE)

 

Cheers

GOPALA

[gopala]

If the least I can do is stop some poor new comer from waisting precious $$ on the next big "scam" I am more than willing to help out.

 

(I know I once spent a small fortune on every system under the sun, refusing to listen to the current forex veterans who were say that $99 do not work. At the end of the day, I guess we all have to go through this stubborn stage... spend fortunes only to discover what everyone was telling us.... stop paying for these $99 or $250 systems )

 

I sometimes feel that most forex traders (and me included!) want to make the $$ fast and 15 min charts feel like this is the way. Making an average of 10-50 pips off these charts per trade with an aggressive trading style of say maybe 4-10 times a day, that would roughly be (taking the max pips of 50 and max trades of 10) +- 500pips a day if you were lucky. What I am seeing now with 4 hour charts is that I can make between 500-1500 pips a day (roughly off 2 trades maybe 3 if it looks good, worst case 1 - if I am in 3 trades then my pipage count is off the charts 1500+ )

 

One of the reasons I never liked trading a 4 hour chart was the amount of breathing room required for a SL, often leading to an almost panic stricken drawdown. (And yes I go through this every day, often smoking myself into a complete frenzy. ps only started smoking again because of this little drawdown) I find that with is strategy you must follow the rules, suck the drawdown in, over come the fear, and you will find that the outcome is rather surprising :D

 

I have a renewed interest now in 4 hour charts. I have helped the author of this strategy already by providing a better exit strategy by using a non lagMA with a period set to 8. What I am looking into know is applying some more of my woodies knowledge to this with regards to trend line breaks and maybe even some divergence. The author is very strict with regards to the amount of indicators he wants to have, so keeping it simple is his policy. He already makes a living of this strategy as it stands. (He too once looked at woodies and also has a love for the CCI indicator)

 

What I feel still needs tweaking are the exists. So am continually trying to see if we can improve on the exits a little. Knowledge of the Woodies patterns is not essential for this strategy, but it does help if you want to enhance it and make it even better. If it was not for my Woodies Journey I would never have come across this and actually understood it for what it really was... pure brilliance!!

 

What I am going to do is run one of my old almost dead accounts on a MyFxBook for everyone to have a look at. It will be quite a challenge at first as I think this account only has about $5 (I may just deposit $50 in it :-)) So the trades will be 0.01 lots and hopefully the drawndown will not give me a margin call. I am taking this challenge on to prove to some friends of mine that I can revive this account to a healthy state. (They believe that it is impossibe to make anything of such a low figure, I would like to prove them wrong because I am stubborn like that :).I do not have a target time period for doing this. But what I want you guys to focus on is the amount of pips the trades make... ignore the money values as they will be too small to make a point.

 

Will keep you posted with my MyFxBook Details.

 

Cheers

Gopala

[harry007]

I also don't like the big TF , but have a open mind, so will check it out.

 

will be that the trades for the month of November, red are shorts and blue are longs, then I have , I think if I calculate right 4 looses and 3 winners.

 

the winner will be bigger then the looser, thats for sure.

 

http://img716.imageshack.us/img716/3571/h4nov2010.jpg

[alansim]

Even though i am Not going to use this method but thanks for sharing.

[yogesheena]

sir i am a INDIAN trader an d do trade in NIFTY as the chart shows is just for tht few months or this system does work as nifTY is really volatile can any one can please tell me that this system does work for nifty all the time thanks

[dannydon786]

I trade 15 minutes and am quite happy with it....you just need 2 or 3 trades to make 50 pips and thats enough for the day....with a very low SL of less than 10 pips....it is good to get wrong in the 15 min chart than to get wrong in 4 hr with hugh SL...

[derricktan]

Hi Gopala,Can't wait for your MyFxBook details. But at the mean time, can you share some of your charts with some arrow indictors on how you enter & exit? Also with some explanation on ToR 1.25.

 

Thank you for your sharing!

 

Rgds

DT

 

 

If the least I can do is stop some poor new comer from waisting precious $$ on the next big "scam" I am more than willing to help out.

 

(I know I once spent a small fortune on every system under the sun, refusing to listen to the current forex veterans who were say that $99 do not work. At the end of the day, I guess we all have to go through this stubborn stage... spend fortunes only to discover what everyone was telling us.... stop paying for these $99 or $250 systems )

 

I sometimes feel that most forex traders (and me included!) want to make the $$ fast and 15 min charts feel like this is the way. Making an average of 10-50 pips off these charts per trade with an aggressive trading style of say maybe 4-10 times a day, that would roughly be (taking the max pips of 50 and max trades of 10) +- 500pips a day if you were lucky. What I am seeing now with 4 hour charts is that I can make between 500-1500 pips a day (roughly off 2 trades maybe 3 if it looks good, worst case 1 - if I am in 3 trades then my pipage count is off the charts 1500+ )

 

One of the reasons I never liked trading a 4 hour chart was the amount of breathing room required for a SL, often leading to an almost panic stricken drawdown. (And yes I go through this every day, often smoking myself into a complete frenzy. ps only started smoking again because of this little drawdown) I find that with is strategy you must follow the rules, suck the drawdown in, over come the fear, and you will find that the outcome is rather surprising :D

 

I have a renewed interest now in 4 hour charts. I have helped the author of this strategy already by providing a better exit strategy by using a non lagMA with a period set to 8. What I am looking into know is applying some more of my woodies knowledge to this with regards to trend line breaks and maybe even some divergence. The author is very strict with regards to the amount of indicators he wants to have, so keeping it simple is his policy. He already makes a living of this strategy as it stands. (He too once looked at woodies and also has a love for the CCI indicator)

 

What I feel still needs tweaking are the exists. So am continually trying to see if we can improve on the exits a little. Knowledge of the Woodies patterns is not essential for this strategy, but it does help if you want to enhance it and make it even better. If it was not for my Woodies Journey I would never have come across this and actually understood it for what it really was... pure brilliance!!

 

What I am going to do is run one of my old almost dead accounts on a MyFxBook for everyone to have a look at. It will be quite a challenge at first as I think this account only has about $5 (I may just deposit $50 in it :-)) So the trades will be 0.01 lots and hopefully the drawndown will not give me a margin call. I am taking this challenge on to prove to some friends of mine that I can revive this account to a healthy state. (They believe that it is impossibe to make anything of such a low figure, I would like to prove them wrong because I am stubborn like that :).I do not have a target time period for doing this. But what I want you guys to focus on is the amount of pips the trades make... ignore the money values as they will be too small to make a point.

 

Will keep you posted with my MyFxBook Details.

 

Cheers

Gopala

[hermes]

CCI must be powerful indicator when WOODIE uses it! What's wrong with 4H TF? Professionals trade from 1H up and choleric from 30M down. Good for self-diagnosis.

Cheers Hermes

Edited December 4, 2011 by hermes

[jimsmith]

this will help anyone using this system

http://www.forexfactory.com/attachment.php?attachmentid=324745&d=1254167000

[PSmith41]

Thanks Jim.

[ravijj]

Thanks for the share hope to learn from this