As mentioned, I am not yet trading the NQ, but may soon. It's up you you to try different charts, first backtesting, then demo.
The CCI and MACD help in identifying direction trade should be taken. To go against them will get you in more losing trades. Avoiding those trades that are not in agreement with these indicators will avoid most losers.
My entries have been well defined. Once you look at enough charts, you will see which entry is best. Usually the BB entry is best, if available, then often the 2nd red or green candlestick bar, then either the count back method or the 1st red or green CCI bar, or the continuation trade where the CCI bar, which had been under 45 exceeds 45 again, which would be a new long entry. You never know which entry will be best on any trade until the setup is complete. These have been explained in more detail in charts and written before. I hope this helps. I need to get some sleep so as to trade in AM. Good trading.
WK
Hi
I was reading through your setups and as pleased to see the setups. Do you use CCI that comes with the plateform or you use custom made one? If you have custom made can i get that please?
2>> Can I get templet also?
Thanks
I use the ones that have proven to be the best over time, first backtesting for hours and hours, then demo till success, then live.
Your platform may not look the same mine, as my charts are TradeStation....best I have found. I will include another look from DT Pro at Danials Trading soon.
Hope this helps. It works for me. Good trading.
ESFXtrader,
If I may ask based on your chart that you posted, what determines your entry and set up.
Also may I ask what your stop is or is it based on a candle.
You also mentioned Danials Trading is that a trade room.
Hector, if you had followed this thread at all, you would have seen the setups and exits which I have detailed very clearly.
Daniels Trading is one of the brokers where I trade and I have shown a screen shot from it before. It offers a fair rate if you trade enough contracts and has some other advantages. I use the dt Pro. They also offer NinjaTrader and other platforms for trading. There, you are assigned a broker and mine is always available and very helpful. I'm not suggesting that I am recommending them, but I do like the service, platform, and fills. Much better than TradeStation, where I will continue to trade options and use TS charts for most of my trading. Commodity Brokers, Futures Trading and Alternative Investments | Daniels Trading Commodity Futures Trading Resources | Daniels Trading
This is another screen shot from Daniels Trading. One can trade from the DOM or charts. They will extend the demo trial if asked.
You will see that with one click of the mouse that any trading group with chart is available and the DOM and chart is easily linked to the lists. It can be set up in many ways to suit ones desires. Hope this helps.
Good trading to all.
WK
Although I cant for the life of me trade this method with a tick chart, I did incorperate the CCI used here into my price action 5 min chart and it meshes perfectly with giving entry signals almost exactly with my original method using only price. It's great for confirmation. Thanks eveyone for all the work with the CCI counter and OP for bringing CCI to my attention.
The following 3 users say Thank You to SMDBIOS for this post:
I'm pleased with the method I use with CCI. It was formulated by someone else who has moved onto Fib trading.
1. I put a 34-CCI Histogram under the price action. Different colors for above and below the Zero Line. The histogram tells me the trend.
2. I put a 14-CCI line over the 34-CCI Histogram.
3. There are 3-entries.
a. If using a 15-minute or longer chart, then enter at the point the 34 (or 50) CCI Histogram crosses the Zero-Line.
b. Take the first hook after crossing the 34-CCI Histogram
c. Wait for the 14-CCI to hook into the opposite side of the histogram trend. i.e. If the trend is up, then one would wait for the 14-CCI to get to -150 or lower. Wait for the 14-CCI to come back higher than -100 before going long.
This is my 1st post to Big Mike's and since I'm a simple kind of guy, don't know how to create an URL of the example chart I saved for this post. BTW I trade 4X and something is always trending over there.
JD
The following 2 users say Thank You to jdrower for this post:
I received a PM regarding my earlier mention of the CCI method I use. Big Mike requires 5-posts in order to send a PM. This is my 2nd post so I'll respond on the Forum.
This is the PM (in part) I received:
"I am a little confused regarding the entrys. What I am gathering is that one would wait for the histogram to pass 0 in one direction or the other. Once this is done (for example sakes can we say histogram comes up from bottom and above 0 for longs. Also is there a particular amount of bars to confirm this.) So once this is done we now wait for the 14 line to go back down past -150 then hook back up past -100. JD there is one criteria that you had 34 cci (50) may I ask what this means. What type of stops and exits does your method have, if I may ask. "
There are 3-entries. The post above is combining the 1st and 3rd entries (I think that's what it's doing). The 1st entry is when the 34-CCI (or 50-CCI) Histogram crosses the Zero-Line. I use Limit Orders that don't always get filled but there are always other trades down the road. Woodie and his followers like to wait until there are a certain number of bars after crossing the Zero-Line before taking a trade but that's with the 14-CCI and since I'm using the 34-CCI, I don't feel the need to wait.
The 3rd entry is after the 34-CCI is solidly trending on one side of the Zero-Line. I wait for the 14-CCI to go below the -150 (if looking for a long position) and then hook back above the -100 (e.g. -92.89) and then go long. My stops are generally 30-40 pips subject to recent tops and bottoms. My profit target is generally 40-50 pips (with a daily goal of a net 100 or net 500 for the week) unless the most obvious trend-line has not been broken, in which case I let the position run its course until the Trendline Break. I might go from a 15-minute chart to a 30-minute chart and develop a trendline on the 30-minute to see if that will allow me to stay in the position longer.
I also use a 5-21 (no moving average) MACD histogram for confirmation of the crossing of the Zero-Line. If the Zero Line is crossed by both the 34-CCI and 5-21 MACD, I feel fairly confident. NB: Trading with real money should be preced with beaucoup hours of screen time. The point being that one cannot blindly take every trade that is a Zero Line Cross. Sometimes the market is in a holding pattern and until it gets out of its Horse Latitudes, it's best to wait until the 3rd entry presents itself or look at another market.
Hope this provides greater clarity.
JD
The following user says Thank You to jdrower for this post:
you don't need url, you can use prtscr key then save it in paint as gif or use jing project to capture the chart image or right click on your chart to see if it allow you to save chart image. Then use manage attachment button to attach it to your post.
I am amazed how far my thread has come. Yes, the system still works, but I have made some small changes to it. I will post the setups for yesterday afternoon and evening and see if you can see how well it is doing. I am using the RSI 7,50, 50 to confirm my trades and it works very well. The RSI must be <50 for shorts and >50 for longs. I have also added another CCI of 21, -200, 200 for the purpose of catching Vs or inverted Vs where the CCI extends beyond -200 or 200. In these cases, I still use my overall method to enter the trade. It is very accurate. Avoid chop time. Pay attention to the price action on a longer time frame to get a perspective of where it has been. Become a trader and perfect your trading. Try different Tick charts and time frames to find what works best for you on whatever you trade.The charts are marked and show the entries for ES using 610 Tick charts, which is my favorite on ES. Beside that chart, I also use a chart of Range Bar 1, 4 tick and more often than not, most winning trades agree on the entry, within a tick or two, using the same indicators.
Hope this helps. I considered placing this in the Elite area, but I understand what it is like to struggle in trading.
Big Mike offers the best platform for traders to learn and discuss openly all trading.
Good trading to all.
WK
There is one thing I would ask and that is that if this thread has helped you become a successful trader and you are yet to join the Elite group, DON'T YOU NOW THINK IT IS TIME TO JOIN?
Mike is doing a great job here offering the best platform for every trader to learn and it cost time and money. What he does here takes away from his trading and is so beneficial to all those here.
Thanks for your consideration and may God Bless you and your trading.
WK
Traders
I received a PM and since I have been negligent and need to get my post count up, I'm responding in the forum.
My win average is 83% but . . . since trading is always unique to each individual, we pick what nuances "speak" to us. Those same nuances may not speak to anyone else (certainly not to Woodie). For example, if the 14-CCI is over 150 and hooks back into the 34-CCI histogram and the histogram is over 100 (for long exits) and still rising, I stay in the trade until the 34-CCI histogram hooks down. That will almost always get me another 15-25 pips. It's more complex than the simple description I've given it. I just know what jumps out at me and haven't really taken the time to write it down. There are things in life like that.
Therefore my method or anyone else's isn't easily qualifiable. Although using trendlines is common in CCI, I also use a 5-13 MACD and a 50-ROC along with my 14-34-CCI indicator. CCI doesn't always give a clear indication for entry or exit so I use the other indicators for earlier entry, confirmation etc.
NB, the 83% is misleading because a win can mean 5-pips or 105. However I will often take a small win prematurely because my psyche likes a high percentage of wins. For some reason that is more satisfying than making more money than having say a 33% win rate. Feeding the trading soul the food it needs is how I stay successful.
I don't care for any indicators on the price action except for MAs. Often I use Zero-Line crosses and that doesn't work well for me if it's on the price action.
Again, it's a personal preference, but I prefer most of my indicators in histogram form.
Many times I'll see diversion after the pair has had a good long run so I'm suspicious. I'm not always best off by staying away but most often I am. It's something that can't be taught, it's something that develops with 1000s of hours of screentime.
Do you have trading groups in Greensboro? I can send you charts if you like. JD
The following 2 users say Thank You to jdrower for this post:
Hi their. I was wondering if you are trading real money, or this is paper trading? I didn't read the whole thread so if you dealt with that already, sorry for asking again. Thanks
I know there is a thread elsewhere on this topic but since this thread is specifically CCI related, I was wondering if anyone here has incorporated anything outside of B/B or Keltner that is sensitive enough for Short timeframes.. to filter CCI and if so how they are implementing it?
I finally had a chance to join in the fun. Yes, I have been trading a cash account for more than 10 years and the only reason I would trade a demo account is after changing brokers and I would need to perfect my trading on the new platform. I now trade on Danials Trading using the DT Pro and use both their charts and TS charts, where I trade options. I also have 3 cash accounts where I trade FX. My CCI + Trading System still works and offers plenty of opportunities to enter trades for winner after winner. I will show some charts and see if you can pick out the winners. I use the extreme price action BB for entries and exits and reversals. But, they do not always present themselves and then the CCI comes into action. I have mentioned that I have added the RSI 7, 50, 50 to my chart and only take a CCI trade if confirmed by either the RSI or the MACD.
I will post 4 charts: 2-Renko charts and 2-6min charts (I never trade the 6 min, these are a reference to compare with the Renko) I will post more later. I did not take but a few of these trade, as that is all the time I was in the market to trade. Live trading and back testing works the same because one must wait until the bar has closed to take the trade setup. The main difference is missing a trade because one uses a limit order or slippage or one's caution using real money. Most trades are successful. I use 3 charts on ES: this Renko, Range Bar, & Tick charts. I will include the Range Bar unmarked so you can check it out. If you understand my system and use all three before taking a trade, you will seldom get a loser. I hope this helps.
Good Trading!
WK
P. S. Note the 6 min charts show the vertical lines from the Renko charts, as I copied them.
"Remember that outer BB usually offers the best entry, but when it rides the outer BB, there is no entry until a retracement and continue back to it. Many of the best trades will never make it to the outer BB and reverse the trend"
Can you explian this Idea with chart example ?
Let's see if i get you right :
For example
on up trend move , price ride the Outer Upper BBs you look for LONG but you don't enter for long until you have
a retracement with long CCI signal like closing bar above 45 , then you take the LONG trade until price will make new high at the upper BBs ? correct
But sometimes after you take this long trade after retracement the price can't make it to the upper BBs and you get reversal to the downside , and price will reverse the trend ? this will be trend reversal ( using maybe divergence )
do i get the Idea right ? correct
hello esfxtrader,
just wanted to say thanks for all the information you supplied in the thread.
I was able to pick up quite a few useful things, and it was time well spent going through all the posts, even though some of the postings are not easy to digest first time.
Thanks again and wishing you all always good trades
I have also added the cci indicator with your settings to my charts . I also use the williams per cent R ind. and had some very nice paper trades while getting use to it. I only trade the euro dollar and it seems to be working just fine on the tick charts.
I am studying this system currently instead of using woodies CCI, but have not made it through entire thread. TOS does not have the 377 tick so I use a .50 range with a 400 tick chart, I had 2 live winning TF trades and one loser this morning. Probably could have had 3 winners but I am still a little shy on pulling the trigger without the full experience with the system. I just saw the RSI additions in one of his posts so I am not caught up.
I am looking at the code for the 5 bar cc alert for TOS but it will be a few days, maybe this weekend.
I like to throw out a thanks to ESFXTrader for providing this thread. I have lost tons of sleep, sanity, and $ looking for an effective system.
The following user says Thank You to pbenson68 for this post:
pbenson I wa going to sent you a private email but this site says I have to post 5 items.
if you get a chance email be at
retrobeat at inbox com
dang I just moved from san diego to houston. was looking for some one to bounce trading ideas off of.
retrobeat
Ok, there is code in the elite section but I don't know if it has what I am looking for since the search is off. for no elites. I am going to join the borg anyway to check out what they have. I have incomplete charts that I can send you but they are based on ESFXTrader's charts. Is that what you wanted?
I am setting up sound alerts for a few things but it's not for autotrading just to flag me to look at the chart and see if there is an opportunity. I won't send those because it will get you into trouble if you think that's it a go just because you have the alert.
What the hell is in your picture, a beet? Or is that your work attire?
I don't think he uses this method anymore. He started another thread last week saying it was an improved way. The thread is called "Day trading currency futures with multiple time frames."
Keep things as simple as possible, but no simplier. Albert Einstein
If you can't explain it to an eight year old it's to complicated
My pic is a eggplant. Could not resist.
Delay due to lack of checking Big Mikes site. Also been busy getting friends company moved.
Definitely contact me at
retrobeast at inbox dot com
I have some decent TOS charts setup that work pretty good, one is an alert on a MA crossover along with other setups that trigger trend changes. Mostly ES but they work on most futures.
Retro
Ok i am working with renko charts on tos, i will be on vacation the rest of this week and i will catch up with you next week. Ill show you what i have going.
Have anyone tried the Jurik's JMA indicator over the EMA indicators?
JMA seemed to show temporal trend changes much more accurately, while EMA tends to show the general trend for the day, though lagging behind the JMA most of the time.
******************************************************************************************
I've talked to Mr. Jurik and he always recommends that JMA is "best" used as a "price proxy" i.e. a price replacement and NOT as a moving average.. You might try replacing the price input for your ema with Jma(c,2) or jma(c,3) etc, until you get the desired result.
** The Jma also works great in your favorite oscillator to help remove noise.
The following 4 users say Thank You to sptrader for this post:
just make sure you have at least the same number of bars of the biggest period used by your moving averages. So if you use a 34 period EMA, make sure you have at least 34 bars.
The following user says Thank You to MWinfrey for this post:
I am finally getting a little more time to get back into trading futures. Just using demo platform at the moment but I am doing well when I follow my rules.
Not sure if you ever were able to send an email to me at retrobeast at inbox dot com.
Definitely would like to see what you have on renko charts. The one I have set up does very well especially when I use it with some other charts in TOS.
There is a chance I am heading back to san diego in Sept but have not decided yet.
between wcci and regular cci, wcci got more bells and whistles built in. it would render a more accurate reflection of the price movement than cci itself.
however, the so-called proprietor of the wcci who sweared up and down the streets and in the ears of those in his chatroom.... to damned the price charts--who needed the price charts to trade, and that; you only needed wcci which would do everything for you to be profitable; is now changing his mind--fully embracing price charts.
currently, the old man is hugging and hogging the price charts that he once so ardently denounced. as of last, the price charts occupied more than half of each of his trading screens.... imagined that.
just a year or so ago, he got himself into some boiling water claiming ownership to something he did not create and was duly exposed by one of our elite members named frank_ if you wish more detail you can google or email to traders dot us at gmail dot com where drastically modified wcci remnant was evident.
as you are already cognizant, to use cci or wcci to trade without other confirming elements, would be very risky at best.
whatever you do, just do not pay the new membership fee of 99 usd/mo, nor the charts subscription fee of 199 usd/mo. practically everything that he uses in his current chatroom is absolutely free here at bmt.
worst of all, many in his chatroom who depended on the trading room broker--neil (?), have also been sadly affected by pfg frauds which is currently an ongoing litigation. you got to google again, if interested, OK?
I find the CCI thread to be very informative. Though I am not a TS or NT user, rather a TOS user, I use the CCI in conjunction with the Vervoort Crossover,with visual alerts, as well as the Hurst Channel. The chart is cleaner without the Hurst channel.
You can see from the sshot they match up perfectly (the green arrows and the red arrows with the CCI crossover zero.
I trade the TF (emini Rusell) using the 133 tick.
The following user says Thank You to trendfriendpa for this post:
More helpful would be to hear from you how you searched... I just tried the "Search this thread" and only came up with my previous search and one other asking about it (#346 by Azrael).
From the simulation trades is working great for me, just that there are quite a few swings that made me exit too early during trading (trading with real money of course) >_<
Not really I moved onto something else
@ pbenson68
just like to know,
how exactly did you apply cci to your trading that lenders you to say--Not really I moved onto something else?
if i were to recall correctly there have been several traders here who applied cci with different degrees of success.
but most users would agree that cci should not be used singularly by itself. traders need to use cci with other conjunctive confirming indi to achieve profit.
sorry to hear that you were not successful, at this point in time, in applying the cci.
perhaps, you also could ask the author of this thread, just how the cci could be utilized favorably, K?
Hi, sorry for the short answer, I figured someone would ask. I think I replied on from my tablet which sucks for typing.
You actually made think back on all the indicators I have tried over the last 7 years. This one like the others (MACD, Momentum, PVT, Woodies CCI) work good sometimes. I thought it was what I was looking for because I had some success trading with it (his method) statistically in Paper trading (TOS on Demand).
I am not sure how he uses some of the other indicators on the chart. If you read his latest he changed his system from the original.
My problem is that the CCI breaking the 45 can give you some false starts/losses. It does not keep you out of churn. Also the 5 rule works good sometimes but other times it produces losses enough that the gains that you make are eliminated. He shows a good system and probably has way more experience than me in real trading. I would like to see him post a video of his system in use real time.
So I went on to look at Perry's system (See it in the Elite section) and tried it. I like it but I thought it leaves a lot on the table. I frankly I gave up after that. I gave pieces of my flesh trying different indicators/systems.
Then I saw some snippets on ADX in the elite section which gave me some ideas that I am trying. I like what I see I and I hope to go live with it in the next month, but we will see....
The following user says Thank You to pbenson68 for this post:
i have this setup some ware on my charts i would like to speack to you on the phone if you dont mind my name is patrick this is my email pat617@live.co.uk
if you can drop me a email i will be able to get back to thannks
Thanks for bringing this up. I looked at TF using CCI I think at .4 and .5 in TOS I can't remember (could have been 1.0 also) , but I am revisiting TF at .2 range with this CCI method, but not the rest of the studies that he was showing. Take a look for yourself...
The following user says Thank You to pbenson68 for this post:
Hi Azrael, don't be misled by the '$' in TOS Range, the decimal point depends on the ticks available for the respective instrument. In the example shown by phenson68, the TF chart is a 2-range chart ($0.20=2 ticks), not a 20c chart. If the TOS chart had been 6E or EURUSD, a 2-pip chart would require a setting of $0.0002.
Hope this helps..
The following user says Thank You to fourtiwinks for this post:
As you can see, I had to repost this because I failed to add the attachment.
This post, which is duplicated on my other active threads, shows the settings on my Indicators. This should answer many questions.
Although this is for TF futures, it works as well for all futures. My setup includes double BB at 20, 2 and 2.5; 20, 31, & 62 EMAs; Stochastics Slow of 6,5,3 and 8,3,3 on same plane as price; and most important, is the CCI (Commodity Channel Index) at …
#9
Trade Station was my main platform at the time of the original Trend beginning.
I still use Trade Station for option trading, but my futures' account is with Danials Trading.
All of my recent posts show DT Pro w/Danials Trading.
The chart in this post is the one of that above-#9, which shows Trade Station at the top of the chart.
WK
PS I have upgraded to 9.1 since that early post.
Is it better to remove the MA of the MACD? I am comparing your new MACD config with the old one, the new one seems to be more sensitive and accurate to the current trend for TF.
Not too sure about the difference between CCI period 12 and 14 though, have not compared to see if it generates more noise.
You do know that the MACD histogram is the difference between the MAs. Note that what I used before w/TS was the default settings. Try cutting the setting #s in half and see if it matches up w/my new settings. That is the same as a chart using half the time frame or # of ticks. Play around with it and see if you find that to be accurate.
Thanks so very much for taking the time to share all your charts in different time frames, including your trading notes and details. Could I trouble you to post all of the moving averages you are using. It would be very helpful for me.
Thank you and much, much appreciation."
Note: traders' favorite trading instrument is TF.
Response:
Orange MA is 50EMA
The dashed red MA is the 20SMA and is associated with the BBs.
The others are proprietary to the charting package found with Danials Trading.
Green MA is 0.09 and is a Rolling MA, hence RMA is its name.
The others can be found if you have an account with Danials Trading.
They are both LSMA or Least Square Moving Average.
I developed these after a lot of trial and error and no other trader has them to date, but that doesn't mean you can't find them out if you follow my charts w/Danials Trading.
Remember, I have no affiliation with them, just love how well their charts have worked for me.
WK
I keep seeing these advertisements for unfiltered data.....
Isn't the whole point of filtering the data to ensure that a rogue/erroneous data point won't ruin your day? If you have a stop in place and a bad piece of data comes in, that exceeds …
ESFXtrader
Observation, do you see reversals probable as the market chops around the high or low of Stochastics?
Right at the open this morning, the market had chopped around and then fell off. CCI showed this as an opportunity.
Lame observation or part of strategy?
Thanks ROB
You should understand that the system which I have described here in this thread has been very good for me financially and continues to be on option trading, etc. But the system which I have developed that includes my original system, is better for day trading futures. So, there is more to it, but more often than not, it is simplified as seen in my more recent threads and the charts below.
More important is the fact that you can develop a system from mine that can be all yours and perfect it to suit you.
Good Trading.
The charts are on ES. A 12 min chart and a 6 tick (r) (range) chart.
WK
This is a 6 tick (R) range chart.
As I have noted, my normal risk on TF or RLM is 10 ticks, sometimes less, depending on the setup entry.
I enter with a bracket entry, where my target and stop can easily be adjusted as I choose. Although I may have a target in mind, I take what the market allows by moving the target and the stop to protect the gains. Sometimes the target is hit very quickly and allows another entry very quickly. By using this method on GC-gold, once the target was hit within 1 second and the price pulled back to same entry for a second winner. There is a lot of flexibility within my system, but what I am sharing is what has worked best for me.
Hope this helps.
WK
PS If this helps you understand what I am doing and you still need help, send me a private message or post below.
Some private messages, when I think will help others, I post for all to see.
Good Trading
ESFxtrader
Good stuff. I am using with the YM (sim), and the results are simply encouraging.
Thanks for continuing to post.
I am new to site and appreciate the way the members interact so far.
ROB
ESFxtrader
I read where you dont take countertrend trades.
Do you wait for EMA's to crossover before taking next set up or do you anticipate based on another indicator?
Thanks in advance.
RH
The way I trade is without MA crossovers. I use the 5034, 5034Z and 5014 CCI trade setups. I track 18-Forex issues with a short-term and long term chart for each. The former uses about 3/4 of each monitor (I use 6-each) with the latter occupying the remaining screen space. A signal is not valid unless the price bar closes above the 34-EMA for a Long and vice-versa (on the short-term chart).
There are other requirements to each trade but this is solely in response to the question regarding MAs. Besides the 34-EMA, I use the 14-EMA and the 204-EMA.
Today I had 13-trades and went on a 6-mile hike with friends from 8:30-AM until 12:15, EST.
I know that I'll have good trades because my trades are all in the direction of the 204-EMA. Some take longer to "comply" than others.
15-issues are on one monitor and I scroll through them (ad nauseum). The other 5 are on the remaining 5-monitors. My office isn't big enough to house 18-monitors especially if all were 24" as are the 6 I use.
As potential setups manifest themselves, I put an arrow under the 14-CCI to draw my attention the next time I'm scrolling through the 18. It frequently gets boring and I digress to scientific websites that interest me. I miss trades but not so many that it isn't worth my time.
just be informed that most trading advices are ditched out........for beginning traders to....prevent them from making rashy irrational decision to get in--when you ought to sit out;
and to liquidate a position when most experienced traders are laughing to the bank....
yes, this beginners irrationality thing happened to every traders, disregarding nationality and geographical difference.
even in a cave like mine, is not immuned to irrational trading at times.... LOL
i responded to your post because i just want you to know that there are several on board here including myself who just love to jump on counter trend trading with more positive results....
SO JUST LEARN EVERY POSITION AND ANGEL YOUR BRAIN WOULD ACCOMMODATE FOR NOW, k?
