In the last couple of weeks I elliminated my wcci in an effort to clean up my chart & was going mainly off of PA with Camarilla pivot points & a 55ema...I went live after some success in sim, managed some small losses YM -$25 to -$35 which is reasonable then I let 2 bigger losses happen..-$105 & -$50 which hurts a small account.
Ive read alot of other people's journals & got a better sense of how to journal.
This week Im going to sim all week & treat it like real money, start at 7:00am, well maybe 7:30am or ish 7:30ish. we'll see...I did some electrical work, made some money to replemish trading account some.
I really like my wcci, never bought into just using wcci w/out looking at PA, thats just dumb. Never even looked in their trading room, over at Woodies. Been using wcci for about..a very long time..2 yrs at least. I trust it & love it. Ive just recently came accross camarilla, a month ago appr. I do like that also.
Im solid w/ the 55ema & a 200sma..I bought a course called "Tommies Revenge" that consist of using the 55ema w/ 4 smaller ema's as a fan.. 6, 8, 10, 12ema's but I changed them for me being 4,8,12,16ema..actually the guy gave me the course for free cus Ive bought other courses in the past & I said.. c'mon..long story short He gave it to me for free..that was very solid on his part.
SO..Heres the strategy
When PA crosses 55 either enter or wait til pa retraces back to or near 55 and forms a 3 candle swing & enter their, w/ a small st loss just at previous candle level, if pa takes out last candle then Im wrong anyways.
When 4ema (red line) is way seperated from 16ema (blue line) pa is over extended, so obviously dont enter the trend their, althou I have lately...must be the "live trading" deer in the head lights effect? I swear!
I either keep my stop on the blue line 16ema or 55ema white line. Actually to prevent giving up too much profit, close trade after a closed candle past the blue line 16ma, but again, ive seen pa continue in direction for awhile just by staying on 55ma, its always a gamble.
I also use wcci in conjunction w/ the crossing of the 55 and or after a pullback has completed, the wcci is perfect w/ this system..it gives me confirmation & confidance, I never should of removed it in the last 2 weeks. WCCI.
I'll post a screenshot a quick minute & discribe how effective wcci is for me along w/ triggers on Tommies Revenge stratigy. my internet goes out alot (at&t) so pa is different on both charts.
I basicly laid out on the chart the meaning of the colors w/ wcci and signaled w/ a pink small line as cci line crossed over zero line...my intent is to enter as cci line (either simutanesly or after pa also crosses 55) crosses zero line & stay the trade until pa crosses back down the other way or the +100 line. - & + 100 line is major s/r at that moment...its extremely effective. I alot of times had entered once pa crossed 100 line instead of zeroline.
Tomarrow..have a good one all.
Last edited by Big Mike; April 6th, 2012 at 11:09 AM.
Reason: Change title
The following user says Thank You to Billbb for this post:
*Zeroline has been green, for 3 sqrs before my entry.
*CCI line did cross over zeroline, thuo it did hug it for alittle bit...cci line past +100 line (s/r)
I could of & should of taken a $50 profit, but I wanted to keep stop on my 55ema and see what happens & pa came back down to 55ma & took me out -$30
PA stayed above 55ma & at the time zeroline was green while cci line was above zeroline...took some heat at first but price never closed below 55ma..was seeing +10..15..20,25 back down to +5 to - 5 /15 but I kept stop on 55ma and from seeing pa break many times, knew to be patient. It broke and I closed out w/ 12 points
I can see by still keeping w/ my stop on 55ma could of got another 20 points and still be in their for the next break out?
Last edited by Billbb; March 26th, 2012 at 10:45 AM.
I marked a pink horizontal line indicating crosses of cci line on the wcci and at the same time PA crossed 55ema, 2nd cross marked by a pink line on wcci, the pa was already over 55ema, a 3 candle swing occured.
Also a note to mostly myself, so I dont do this particlar move in real or sim...
If PA is already over or under 55ema and been their all day pretty much, even on 7 range then go in that direction please. Im begging to myself.
I changed from 4 to 5 range just to peak at the difference.
See how price continued? Im playing w the fonts.
I changed period on wcci from 34 to 21, just experimenting
Now its apparent I did get lucky & timed the exit for 23 YM points.
The 2 inbetween I put stops at previous candle, but I was wondering as I was going thru all the hits, to just set a stop at -$100 (20 points) & let it be, instead of paying commisions for all the PA noise +w/ emotions. Go outside and puff a backwoods cigar.
Glad it ended on a good note. p.s. sorta, Throw a dog a bone, hit that thankYou button real quick.
Last edited by Billbb; March 27th, 2012 at 01:01 PM.
Reason: change 3 to 2..refering to # of hits taken