TRADING FORK EXTREMES – 3 month Setups.

[Summerset]

Though there is an H&S, and CCi is negative on both daily & 4hr. We are cautious with the shorts, and will begin to look for signs of reversal to long as of <222.20-40>, Reasons outlined in PDF updated below.

We keep in mind that we are selling in a long term uptrend.

[bukumirac]

You'r welcome,
I am trading with fork, also, but on 2h,1h and 30min. I am interested in CCI that You applyed.What is fuul name of indicator?

Thanks, Bule

[Summerset]

Hi Bule,

I use woodie's CCi indicators.

I have attached a zip file with them. If U unzip the file & paste it under C/windows/programs/strategybuilderSB4/experts/indicators. Then U can use them all on strategybuilder or Metatrader charts.

Of the attached lot I only use Double CCi indicator, (its called double cause of the normal CCi & turbo CCi together), & CCi patterns (identifier) = ( the green & red circles that U see on charts). When they compound together, then U know U have a powerful trend signal.

If U will be trading the 1hr & 30 min Charts then U will need the LSMA (to identify short term trends) & the Sidewinder ( to know if the CCi will break the zero line or reject).

I don't use these, because U have to stay glued to yr screen & watch. But I have zipped them with the file for you.

I have also attached a pdf by Ken Woodie on how to read his signals. I think U probably already have it if U are working with CCi.

U can also get tons of edu material on Woodie's CCi from woodie's site itself- www.woodiecciclub.com

Let me know if U need anything else.

Wish U All the Best of Trades.

[bukumirac]

Wow man,
I don't now what to say!THANK YOU WERY MUCH!!
These days I started a litlle with MT4, used to work with VT for a year.
For me (tradicionalist) is wery hard to switch, specialy with CMS acc.
But on VT I draw fork with fibo levels, and MT have 3 points,nothing else.
Ok,dont want to bother You further.
Once again, thank You and happy trading!!

Bule

[bukumirac]

Hi, Summerset

Me again. I put Woody in MT4, and working.
Please if You can tell me how much can you trust the indic.?
Indicator values forming with price, AFTER price.
The story of indicator set up is nice, but will it work?
Please inform,

Bule



p.s.I am aware that is part of personality to accept some new way of trading.

[Summerset]

Eurodollar & Euroyen Fork analogies & Trade updates for coming week starting 27-11 attached in PDF form.

"Trading Fork Extremes" portfolio is still making most profitable monthly system on the collective2 home page.

Profitable trading to all.

[Summerset]

Originally Posted by bukumirac

Hi, Summerset

Me again. I put Woody in MT4, and working.
Please if You can tell me how much can you trust the indic.?
Indicator values forming with price, AFTER price.
The story of indicator set up is nice, but will it work?
Please inform,

Bule

p.s.I am aware that is part of personality to accept some new way of trading.

It depends on 2 principals:-

A- Backtesting.
B- The type of Trader U are. (Long term or Short term).

BACKTESTING:-

In order to master an indicator, U must back test it very very thoroughly, in trending and consolidation markets.

This statement is KEY to success, and can never - E V E R- be understated, however much time U spend on the backtesting. Else, believe me, U can not be taking yr trading seriously enough.

TIME FRAME:-

If you will be trading short term (Intraday trading), U need to Backtest the LSMA, together with the CCi identifier (CCi paterns), & divergences of CCi graph with price.

If U will be trading long term, U need to test compounding the CCi signals on one time frame together with taking concurrent divergences on two different time frames.

EXAMPLES:-

If U will be intraday trading. U need to be calcuculating the intarday supports & resistances. As these will be yr entry points.

If U were live trading, U could easily sight these by eye balling the 1/2 or 1hr graph. Or by reading general subscribtion service reports on different pairs. (They don't have to be paid).

In back testing U can easily eyeball 2 specific support & 2 specific resistance zones on any intraday 1hr or 1/2 hr chart- during one single day time frame.
These values are actually the daily S1, S2, & R1, R2, that are theoretically calculated by the pivot point formula.

Now what U need to back test is the following.

If U will be buying S1&S2, & Selling R1&R2:-
1- locate such levels on past days.
2- Check the color reading the LSMA gives U there.
3- Check if the CCi identifier is compounding signals or accumilating signals at such levels.
4- check if there is a pro-trade divergence between CCi graph & price. This point is very important. To full understand it, pls go to http://www.fx-portfolios.com/intraday_signals. then hit the icon on "position trading"

U then need to work out an Excel spread sheet, where U input all the trades that U would have taken at such levels in the past using the above criteria. How many pips they would have made or lost.

By fine tunning the back testing, (using the above 4 constraints in consolidatory & trending markets). I can almost gurrantee U that U will have reached a very profitable entry & exit intraday system.

U cut out the overtrading by trading only the NY session. Or usilng a station with price sound alarms / alerts when prices reach pivot levels.

U then demo trade yr results / rules generated from them for one quarter (3 month) at least.

Then through consistancy U will have built the decipline required to trade live
=========================

If U will be trading longterm:-

U need to backtest a verified longterm fork aganist CCi extremes on daily & 4hr frames. Take & back test the CCi signals that erupt when concurrent divergences are showing on both frames.

For longterm trading, we have a specific E-book manual, that explains in detailed examples, how to implement the above thesis. http://www.fx-portfolios.com/trading_system_book. then hit "Trading the Fork e-book" icon

Like U say in yr post "I am aware that is part of personality to accept some new way of trading". This is very true. And I would like to add to it that it is really the back testing that dictates the neccessary changes U need to make in how to read the Charts, - and ultimately on how to interpret them- how to view their development & yr trading personality.

That is why its of supreme overall importance to do the back testing, followed by demo testing by yourself. Books & mentors are only there to guide U throughout the process.

[bukumirac]

Hi Summerset,

Thanks again, this is much more than I expected, You are the MAN!
I started with backtesting, but my uppinion about is,that every backtesting works, with any indicator and that is a fact for most new traders to feed the market with funds in a moment. Ok,woodie isn't any indicator, I will try and report successs.I am trading with forks intraday, but cure of overtrading long ago, if there is no setup there is no trade!, also problem with new people bacouse market chalenge(specialy volatile) them to get into without setup only with greed!(it is human) I was specialy aatracted with Your analisys and hope in future I can do simmilar
Thanks and best regards,

Bule
p.s. sorry, my english is....?