My CCI/Coral Breakout system

[travelkoen]

I rate this as the best system ever, for scalping

wow that is a very big statement, I hope you make a lot of pips on it!

[Bheks]

Just wanted to give alle the people that read and write this thread that I shall give some more background on the system, philosophy-wise and that I will re-launch my website probably by this evening.

Looking forwad to that

[travelkoen]

Sure… I am trying Trading Point at the moment

Nice, let us know how it goes!

[Bijoymj]

Agree with you. Suitable for scalping

[Bijoymj]

Dear Travelkoen
Need some clarification.
What should I do if I am having an ongoing trade based on a valid break out and getting an opposite break out before the existing trade hits target ?

1. Shall I should close the existing trade and execute the new order ?
2. Shall I proceed with the existing trade and avoid the opposite signal ?
3. Shall I execute the new trade keeping the existing one ?
   See the EURJPY chart

Here Break out 1 (Pink color) is a buy signal. Then Break out 2 (Yellow color) is a sell signal before the first one hits target.
Please advice.
Thanks in advance

[travelkoen]

@Bijoymj

Dear Travelkoen
Need some clarification.
What should I do if I am having an ongoing trade based on a valid break out and getting an opposite break out before the existing trade hits target ?

1. Shall I should close the existing trade and execute the new order ?
2. Shall I proceed with the existing trade and avoid the opposite signal ?
3. Shall I execute the new trade keeping the existing one ?
   See the EURJPY chart

Here Break out 1 (Pink color) is a buy signal. Then Break out 2 (Yellow color) is a sell signal before the first one hits target.
Please advice.
Thanks in advance

For my peace of mind I tend to stick to the rules, but that’s just me. I never look back to how much pips I would have made if only I would have stayed in.

So I close the trade and enter short

[Bijoymj]

Thanks a lot for your quick reply

[Bijoymj]

Hai Travelkoen
Sorry to disturb you with my silly questions. I am trying my level best to accept and understand this powerful system from the ground level. Kindly tolerate with me.
In post # 1, you had mentioned to add sr_KG_ Support_and_Resistantce_v101 (Optionally) and the same was included in the zip file attached to the post. But never seen any post regarding usage of this indicator.

How you use this indicator effectively in the CCI/Coral break out system ? Please post the methodology and logic in using sr_KG_ Support_and_Resistantce_v101 with CCI/Coral break out system.
Thx

[travelkoen]

Hai Travelkoen
Sorry to disturb you with my silly questions. I am trying my level best to accept and understand this powerful system from the ground level. Kindly tolerate with me.
In post # 1, you had mentioned to add sr_KG_ Support_and_Resistantce_v101 (Optionally) and the same was included in the zip file attached to the post. But never seen any post regarding usage of this indicator.

How you use this indicator effectively in the CCI/Coral break out system ? Please post the methodology and logic in using sr_KG_ Support_and_Resistantce_v101 with CCI/Coral break out system.
Thx

I don’t really… It shows S/R levels but my experience is that is more likely to give you the jitters concerning a good trade than actually help you.
Basically you can add trendlines and S/R lines or other indicators but the most powerfull way to use it is by just using it as clean and simple as possible.

[Bijoymj]

Nice

Better to avoid it. Let the system be simple.

[N0talent]

Oh no! Not automated here, you have to be @ your screen when the move happens, otherwise you’re not in…Since we work the 5M chart situation can change in 1 or 2 candles, so when I’m working on charts to post here to frantically then I might miss out on some trades…

I usually go in during the candle, has served me well to gain a few pips more but have to admit it has also lost me some. If you’re doing a fast moving pair like GY or EY then you might wait untill it closes as it often gives more then the 25 pip target. EU is another thing, often it is really down to the pip 25 pips when it starts reversing again.

You’re welcome!

hey Trav,

nice strat! As moczubat pointed out, I was wondering which currencies you wait for the Bar to close, and which you enter immidiatly during the bar once all variables line up?
I also have a question(s) to the reversal rule. does the reversal rule only apply when CCI didnt reach the other 150 mark? example: you enter long, CCI raises to 100, Price action reverses and hits your SL eventually. then u enter for short, right?

what do u do in a similar senario, but CCI climbes to +150 and price action reverses. lets say your in a loosing position and Coral is higher than Ask. Do close the position? Do let it run until SL or TP hits? if SL triggers, do u enter a reverse trade?

I hope the question(s) arent asked to confusing. ^^

thanks in advance!!

[travelkoen]

hey Trav,

nice strat! As moczubat pointed out, I was wondering which currencies you wait for the Bar to close, and which you enter immidiatly during the bar once all variables line up?
I also have a question(s) to the reversal rule. does the reversal rule only apply when CCI didnt reach the other 150 mark? example: you enter long, CCI raises to 100, Price action reverses and hits your SL eventually. then u enter for short, right?

what do u do in a similar senario, but CCI climbes to +150 and price action reverses. lets say your in a loosing position and Coral is higher than Ask. Do close the position? Do let it run until SL or TP hits? if SL triggers, do u enter a reverse trade?

I hope the question(s) arent asked to confusing. ^^

thanks in advance!!

Hi there,
Ok will try to answer, don’t know if I got the questions right…
I basically enter when I see the cross (both CCI and Coral), granted sometimes it will go back and forward for some time but we’re talking a few pips here…nothing major.

as far as the two examples, I see it this way: the first one is a revearsal so I enter short yes. The second one puzzles me a bit, if you entered on the cross, how can you be in a losing position? In any case I move my SL to at least BE (and most of the time coral line) whenever it goes above 150 or below -150. So once it goes down, I wait for a new cross which means I’m stopped) and enter new trade

Hope I was able to help you

[N0talent]

Hi there,
Ok will try to answer, don’t know if I got the questions right…
I basically enter when I see the cross (both CCI and Coral), granted sometimes it will go back and forward for some time but we’re talking a few pips here…nothing major.

as far as the two examples, I see it this way: the first one is a revearsal so I enter short yes. The second one puzzles me a bit, if you entered on the cross, how can you be in a losing position? In any case I move my SL to at least BE (and most of the time coral line) whenever it goes above 150 or below -150. So once it goes down, I wait for a new cross which means I’m stopped) and enter new trade

Hope I was able to help you

thanks for the quick reply… the second senario i discribed was just made up. im pretty sure i saw that case somewhen scrolling through the charts…but i also could be wrong.
cheers!

[travelkoen]

thanks for the quick reply… the second senario i discribed was just made up. im pretty sure i saw that case somewhen scrolling through the charts…but i also could be wrong.
cheers!

No worries, if you would bump into it again then don’t hesitate to post it

[Bijoymj]

Today I traded only EURUSD

See the trades

1. Buy - 15 pips were possible. But TP was 20. Closed manually on opposite break out = + 5 pips
2. Sell - TP Hit = + 20 pips
3. Buy - 15 pips were possible. But TP was 20. Closed manually on opposite break out = + 2 pips
4. Sell - SL Hit = - 17 pips
5. Sell - TP Hit = + 20 pips

Net Total for today = + 30 pips

Trading closed for today. Waiting for tomorrow.

Please advice: 1. Is there were any possibility to increase profit within the system ?
2. Am I following the system correctly ?

[travelkoen]

@Bijoymj

Today I traded only EURUSD

See the trades

1. Buy - 15 pips were possible. But TP was 20. Closed manually on opposite break out = + 5 pips
2. Sell - TP Hit = + 20 pips
3. Buy - 15 pips were possible. But TP was 20. Closed manually on opposite break out = + 2 pips
4. Sell - SL Hit = - 17 pips
5. Sell - TP Hit = + 20 pips

Net Total for today = + 30 pips

Trading closed for today. Waiting for tomorrow.

Please advice: 1. Is there were any possibility to increase profit within the system ?
2. Am I following the system correctly ?

First of congratz with your profit.
At first sight it looks ok, I’ll look into in detail this evening.
I’m working on website today so haven’t been trading.
Looks pretty choppy

[travelkoen]

Just wanted to add one thing, spreading this over different pairs, making 30 pips per pair it adds up.
My personal goal for every day is 25 pips per pair.

[Bijoymj]

Of course… You said it… Trading on different pairs will bring more constructive outcome with this amazing system.

BUT…

Playing on different pairs at the same time without system knowledge in depth and practice based on the system rules may make confusion as almost all the selected pairs are having break outs at similar time.

Hence I am planning to trade only one pair until it makes me confident to take more pairs with deep system knowledge and consistent results.

I will aim for a second pair at least after one week of fun with EURUSD.

[travelkoen]

@Bijoymj

Of course… You said it… Trading on different pairs will bring more constructive outcome with this amazing system.

BUT…

Playing on different pairs at the same time without system knowledge in depth and practice based on the system rules may make confusion as almost all the selected pairs are having break outs at similar time.

Hence I am planning to trade only one pair until it makes me confident to take more pairs with deep system knowledge and consistent results.

I will aim for a second pair at least after one week of fun with EURUSD.

Oh yes, certainly don’t get me wrong, I was just pointing out that in time more trades are possible, let me even put it more blunt: you might have more succes with a pair you’re not to familiar with then with one you are.

Below my chart of today: it would have been a 30 something day. All in all not too bad, believe me, I know people that would be happy getting 30 pips a day.

[Bijoymj]

Really.

Consistent gaining of 30 pips per day is absolutely great. It can change the life, if played with proper money management.

Any how, I am really happy.

Two days of trading on EURUSD with this system enabled me to put 90 (60 pips yesterday) pips in my bag.

Thank you