Hi everyone
Firstly my apologies for the delay!
As promised I will be posting trades and updates to my “one minute chart trading system”
[B][U]RULES[/U][/B]
Just one rule really. Please do NOT post ANYTHING here unless I have emailed you the system and you want to ask any questions or post any charts of your own trades.
Thank you
Jerry
Hi everyone
I’ve changed the template slightly. I’ve deleted the 60 EMA and now have the 12 and 24 EMA’s. Use them to monitor your trade so that you get the maximum number of pips while the move is strong! Use the 12 and 24 EMA’s to manage a trade to achieve maximum pip haul - as long as price action stays within those EMA’s keep the trade open.
VERY IMPORTANT
The safest strategy not to get caught by repainting and constantly hit stop loss is to ONLY enter buy trades above and AWAY from the central vegas tunnel EMA’s and ONLY enter sell trades below and AWAY from the central vegas tunnel EMA’s. Have a look at the GBPUSD and XAUUSD charts I’ve attached to see what I mean.
Hi everyone
I have been toying with removing “zig zag” indi on all trading pairs except Gold (XAUUSD) and replacing it with “trend” indi (from Trend Shadow). The reason is that it tends to give a buy/sell overbought/oversold signal way too early in a move - using the 12/24 EMA’s is probably a better way to monitor an ongoing trade.
I am attaching latest GU chart - I traded the last swing using the “trend” ind
It’s seems that one can’t upload anything but image files here so if you want the “trend” indi just email me or post a request here.
Rgds
Jerry
Hi everyone
Someone pointed out quite rightly so that I was going against my own rules - only trade AWAY from the tunnel!
Quite right!!!
So here is a 1 min GU chart from this morning. I did trade the first move up (got 10 pips) which shows 2 lovely moves
Very important to only trade AWAY from the tunnel - this morning on Gold is a very good example of this lesson.
Hi everyone
Guys I’m working on some very exciting changes and improvements to the system and template. Including SEMI - AUTOMATION - yep using an EA to take trades for us! It uses a CCI based indi and works really well.
Also people are struggling (I think!) to find possibly the right trading pair to trade? It’s a big problem because often one starts trading something and then you look at the chart or charts of other trading pair’s and wish you had traded them instead!! How to spot the right trading pair?? I’m going to try to help over the weekend.
All in the next few posts
:)Hi everyone
Firstly, I have changed the template. The vegas risk level has been adjusted and I have got rid of TDI red green and replaced it with a proprietory CCI indi. I will explain why later.
Secondly I am going to introduce two EA’s which you can set up when the chart is right to actually take over the stress of opening and managing trades.
Before I go into that tomorrow, I just wanted to get into using our vegas tunnel. Don’t think that many people understand why it’s there or what we can do with it!
USING THE TUNNEL TO TRADE
1/ I have attached two charts from yesterday. One is a EURAUD chart and the other a GBPNZD chart. Look at the difference in the tunnels. The GZ one is narrow with nice straight fib lines ndicating a nice fast trend. The EA chart shows a wide tunnel with wiggly lines with all the price action within the tunnel - indicting slow uncertain price action. Obviously the GZ pair is the one to trade - so it proved to be!
2/ I have attached two XAUUSD charts from yesterday. The earlier one shows wide tunnel - uncertain choppy price action. The later one shows a totally different tunnel. Price action had shot down just after 9.00am (Banks just opened??). We might have missed that move but remember that price action ALWAYS RETURNS TO THE TUNNEL giving us at least 2 or 3 more nice trading opportunities throughout the day (Remember that we ONLY trade AWAY from tunnel).
Hi everyone
Now (I think you will agree when you understand what I’m talking about) we are going to get to something quite exciting.
It’s true that the big problem with trading the 1 min chart - in fact with forex trading in general - is FEAR - yep WE are the big problem - one often see a good set up but one doesn’t trade it because of fear of loss or doubts spring up that it’s not going to work. Ring a bell? Does with me - happens to me all the time! How to get around it? There is a way: AUTOMATION - use a robot! That way the stress and fear and is cut out. Set up the EA, walk away - come back in a few hours and see a nice trading account balance!
Hence the change in our template. Using the CCI indi and an EA based on the CCI levels (credit to “Cyber1” for the EA). This EA will take a trade as soon as possible after the signal line reaches a certain level. So you can set it to take trades at say -80 (or any signal line level you want) in the case of Gold from last Friday you can see that the EA would have made a few pips! The EA works really well in a trending situation as does another EA which you can use called the “price_bounce_off_ma” EA which opens trades when price bounces off a set EMA like our tunnel EMA’s. So in the case of Gold from last Friday, we could have set it up to take those bounces when price action RETURNED to the tunnel which happened around 11.00am and again at 1.00pm. OK - the advantages and disadvantages of the two EA’s - The CCI ea opens the trade only when price action has definitely bounced and is going back in the direction of the trend which is great HOWEVER if it takes a trade after a minor recovery such as happened with Gold at 10.00am last Friday (see chart) price action started countertrending just after which would have resulted in a loss. BUT looking at the situation after 3.30pm - 4.30pm on Gold if we had set up the price_bounce_off_ma EA we would have lost out when price recovered all the way back to 1256 at 2.00pm. But if we rather had the CCI EA set up we would have scored wonderfully on the new move down after 2.30pm ! So it’s a [I]trade off[/I] and as I did say in my original RULES be careful around the opening of new trading sessions and news releases - wild price swings are the norm!!
OK another “weapon” you might like to use is the “price_cross” EA. What this one does is open trades when price action crosses a major EMA like our 144, 169 or 200 EMA’s. A good example for it is perhaps GBPJPY from last Friday just before 7.00am we got an UP signal but price action was meandering a bit (see attached chart) - so we could have set the “price_cross” EA to take a trade once price crossed the 169 or 200 EMA. As you can see - would have worked out nice!!
Obviously the benefits of using EA’s is that you can set a definite TP (depending on trading pair and circumstances) and you can set a trailing stop which will protect just in case it doesn’t reach your set profit level.
Lastly if you still feel that you would still rather trade manually - a very useful tool is the “EMA alert” indi (not an EA just an indi) which you can set up as part of your template to send an EMAIL ALERT to your smartphone when price action hits one of our central vegas EMA’s (on all charts you might have open on your platform) which is always the area from which we open any trade. Very useful - means one can get on with other tasks instead of watching the computer screen 24 hours a day!
Just PM or email me if you want the EA’s, indis and new template.
Of course you will have to demo trade the EA’s for at least a week or to get used to using them and seeing if they work OK (make a profit!).
Regards to all and happy trading
Jerry
Hi everyone.
Well trading conditions today were really excellent.
EJ, GA and GJ really good early morning - usually a nice time to trade.
I am attaching an two EJ charts from today which will give you a “feel” for when a GOOD trade is imminent.
See if you can spot what I’m talking about!
I’m opening the thread up for comments - POSITIVE ONES ONLY PLEASE!!
Regards
Jerry
I tried your CCI EA and it is indeed working. One thing that I have learned from you is that one should really know which pair to trade and that secret, you have explained it well. Anyways, I have a quick question though, how do you set your take profit? I am a little bit worried to be aggressive in a 1 minute chart. Any tips is highly appreciated. Continue your work 
Good Job Jerry
Hi Acey
As it’s the 1 minute chart I would suggest 10 pips, however in a strong trend you can go for more or even manually control the trade. Otherwise set up a trailing stop of say 5 pips.
Rgds
Jerry
If you don’t mind me asking, how profitable have you been using the above system?
Hi ivanyo
Thanks for your question. The system is still “work in progress” It’s a combination of two or three different systems/strategies all rolled into one. A lot of hard work, “blood, sweat and tears” has gone in to some of the indi’s and ea’s, etc.
Anyway so far after the combination was attempted and refinements (still going on) it’s becoming more and more profitable.
Watch this space!
Rgds
Jerry
Guys
I’m travelling at the moment so my posts, etc may be a bit erratic - back to normal next week.
Hi everyone
Just wanted to spend some time on TRADE PREPARATION.
Obviously we can’t just set up one of our EA’s unless we’re sure that whatever we’re intending to trade is in a solid trend up or down. The enemy of a successful trade is sudden “chop” or zig zag action through the tunnel - occasionally price action will break through the tunnel centre a couple of pips before returning back to the trend - that’s OK - can result in a very nice winning trade.
To increase the possibility of a win - in fact maybe [I]multiple wins[/I] as the EA can constantly open new trades as price action winds up and down SMOOTHLY in the direction of the trend, we need to check the DAILY TREND and currency RELATIVE STRENGTH
The best time frame to check for the DAILY TREND in my view is the 4 hr chart. First Attachment is the EURJPY 4 hr chart for today which clearly shows a nice downtrend! The second attachment shows how the 1 minute chart was a PERFECT trading opportunity (note the small horizontal red arrows which show where my EA’s opened trades automatically.
Ok
What we can also do is check currency RELATIVE STRENGTH
So we can do is use is a relative strength “spaghetti line” indi
Make a template like the one below and “hey presto” it shows clearly what currencies have moved to strong (above the “0” line) and what currencies have moved to weak (below the “0” line).
Let me know if you want the indi and template - I’ll send them over.
I love your template. I have done a little research on currency strength etc. It’s a neat concept.
Hi Leg0nd
Thanks for that. Yes it’s really vital to see what’s strong or weak for the day especially if one is going to set an EA up for an hour or more.
I didn’t get to catch your email before It got removed :(. Send me a pm if you get the chance. I believe your currency strength template would be fun to look at and compare with my currency stats each night. Thanks
