inside this demonion here, I will try to explain everything as completely as possible and all questions will be answered with consideration.
As with any method that carries positive expectancy beside its title, you require unshakeable discipline to follow simple rules, employ common sense and employ a winning mindset to make it work for you.
This really is an intraday trading system, that intends to capture significant market motion with an excellent risk/reward whilst restricting the number of signals in a really clear cut way. Seeing the charts all day is extremely dull, particularly if we have no clue what's about to happen. The temptation to trade from boredom is immense, the market is running away, I do not want to miss this train, I just overlooked a $XXXX move, next time it goes like that I'll find a reason to get in! . Those are just a few of the items you'll be telling yourself while watching an intraday chart as well as the signals that you're looking for just aren't there, be warned.
In order to establish the fact that waiting for the absolutely best sign is of utmost importance and damaging to your success, you may have to really watch these charts, get bored, tell yourself the things mentioned previously, enter transactions recklessly, incur substantial losses to your account simply to learn that waiting was totally in your own best interest.
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The Charts:
We will be using one timeframe, the 15M. The only time we'll be studying another timeframe is when we are drawing trendlines and identifying important levels in the market.
On your chart overlay the following:
150 EMA
50 SMA
CCI 50 14(See attachment)
The CCI is an indior which many folks do not like for any reason, its principal purpose here is to enhance your confidence and act as a fantastic visual aid to gauge the momentum in the market. Credit is due to Dr Bob whom initially described the use of this 50 CCI in a record available on a different website. For information about the CCI and exactly what it does refer to
http://stockcharts.com/school/doku.p...nnel_index_cci
Please don't skip this URL.
Your Chart ought to look like that:
Some critical factors:
* I utilize this egy on Yen crosses like Aud/Jpy, Eur/Jpy and Gbp/Jpy
These pairs provide fantastic volatility which when coupled with these setups provide possibly very rewarding transactions, risk/reward sensible. It works on any instrument that is volatile.
EDIT: See post #97 for CCI indior
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More coming in a flash.