Day Trading Master Class

[nkcaump]

Questions about setting up MT4 on 4-Hours

TeamTrader,

Thanks very much for your generosity. When Felix talks about "giving back" you are doing your part and it is appreciated. Briefly, I'm new to all of this, but have a basic understanding of CCI, Stoc's and the EMA. I'm wanting to be a trader in my spare time and am taking your recommendation of doing it on 4-hour timelines.

I'm interested in setting up MT4 with those guidelines in your recommendations. I think I've got CCI and Sto set up correctly, but if you look at my EMA lines, they don't look right. Can you look at the attachment and see what I might be doing incorrectly? Then once I've got the tool set up correctly, I can better understand the signals in your strategy.

Thanks again,

--Chris

 

[try_nerror]

Nice chart, but it realy good if can attached the templete and indicator to

 

[bravo]

Thanks

Thanks Teamtrader but frankly I have seen advice like this all over the place. For it to be useful you would have to go deeper but since you won't that's okay. Strictly your choice. I just joined this group today and I'm just opening my first forex account and the reason for joining froups like this is to gain from other people's experience. Afterall the market is so large your singular input or mine will make no difference. My making pips does not prevent you from making your pips.

 

[TEAMTRADER]

nkcaump

Hi Chris,
The CCI is 8 and not 14. When the CCI is overbought/sold, use this as a signal to give you both a support and resistance level. Obviously one will be wrong and sometimes both are wrong. If both are wrong then you are certain of being in a sideways movement. If the ema's have just crossed then this is a very powerful signal as you have both a solid support/resistance level stop and a trendline. Guide support trendlines are ALWAYS under green opening prices and guide resistance trendlines are ALWAYS over red opening prices and they ignore all other candles.
THIS IS FUNDAMENTAL TO SAFE TRADING.
The trading ema's are for the 4hr chart are 8/15/20 and the guide ema's are 40/80.
Use the pivot levels of MT4 also as a guide but be very aware that the CCI levels are more accurate but as a consequence, there are more of them.
Good luck.
TEAMTRADER

 

[TEAMTRADER]

Bravo

I have not the time to train and let you into my system which takes months to learn. I am sorry you feel let down but I hope the previous post will help.
TEAMTRADER

 

[fxfariz]

I have not the time to train and let you into my system which takes months to learn. I am sorry you feel let down but I hope the previous post will help.
TEAMTRADER

hi bro TEAMTRADER....

if u dont mind bro...
can you post ur trading system here...
i want to leran from you bro...
or anybody who can teach me...

 

[Yellow]

1 & 5 Min Charts

Hi TeamTrader,

Can the indicators, Stoch, CCI, and EMA be adapted to fit a 1 or 5 min chart.
I've tried with no success.

yellow

 

[TEAMTRADER]

Yellow

Hi,
Yes, That is more or less what I day trade although mine is 1 and 3m charts.
Stochs is 8-3-3
CCI is 13 for 1m and 11 for 5m
1m ema's are 8/15/20/30 with guides as 180/360
5m trading ema's are 8/15/20 with guides 80/180/360
Entries are pretty straight forward and I use stochs as the exit normally and it is a particularly strong exit when coming out of an overbought/sold situation and the CCI has been going one way whilst the price has been going the other.
I do use the CCI indicator on the 4hr chart as a guidegejohnson

 

[TEAMTRADER]

Yellow

Hi,
Yes, That is more or less what I day trade although mine is 1 and 3m charts.
Stochs is 8-3-3 for both charts
CCI is 13 for 1m and 11 for 5m
1m ema's are 8/15/20/30 with guides as 180/360
5m trading ema's are 8/15/20 with guides 80/180/360
Entries are pretty straight forward and I use stochs as the exit normally and it is a particularly strong exit when coming out of an overbought/sold situation and the CCI has been going one way whilst the price has been going the other.
I do use the CCI indicator on the 4hr chart as a guide, but I have one overriding rule, "Trade what you see, and NOT what you hear or hope."
Be VERY aware of the many announcements that affect the FX.

 

[TEAMTRADER]

fxfariz

I suggest looking at woodies cci club for excellent training.