In my posts and charts, I have described several entries from outer BBs with divergence, to 2nd green or red candle close, to first CCI bar greater than +45/-45 close, to the count back method bar 5 close as described, to a new bar greater than 45/-45 close after pullback on a continuation trade of an obvious directional move, which may also be a bounce off the midband. The setups vary according to the price action--non-directional to strong trend. In the setups which have not yet started a trend, prepare to move the stop quickly and take profit early unless a trend is established in your direction during your trade. Using live price action, you will soon see how it works from my examples. Good trading.
The second picture is of a demo account I was trading to show a new trader how I was using the platform and how quickly the account can grow in a very short time using only a single contract on each trade. Our advantage is that we do not need to settle for only a single contract and therefore the results is more to our liking. He is picking it up quickly and now has doubled his demo account. You can do the same.
Last edited by ESFXtrader; May 9th, 2011 at 01:51 PM.
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Thanks ESCFX for the charts, they helped alot-- I think I am getting the hang of it now. Quick question, do you set your CCI to true or false for calculating at bar close? I set it to false, and I get a few false signals-- setting it to true I get in late sometimes-- just wondering what you use based on your experience.
Thanks again for sharing you methodology and answering some tough questions from some of the posters on here.
You will see the settings below for the CCI and in Trade Station, only in the scans is that setting offered for true of false. There is no mention of it when setting up the CCI on the charts. Other charting packages are different.
Hope this helps. As you can see, the trades are very obvious at TS.
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The more I watch using your method the more obvious the tradess are becoming. Once again, thank you. So it looks like with TF the cci calculates after the close of the related bar. I had it set the other way around, where the CCI would not wait for the bar to close and was getting a few false signals.
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