CCI Expert, not a holly grail, but quite rewarding

[forex-101]

Hi,

As far as CCI indicator by itself is conserned, I only had success with it on longer timeframes, like daily or weekly. Same is true for most other indicators. The drawback of using them on daily charts for example is that your stop loss is usually placed based on technical levels( like previous day's low or last weeks high) which can be 30-60 pips away from your entry. Therefore you should have the patience to bear a trade which is in a loss for a while before you see profits.

Have a good weekend,
Steven


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Forex 101 - FX Resources and Trading Strategies

[gazuz]

Yes like forex 101 said the CCI expert is only good in long term, basically trading in the trending market. So this strategy would only be good for either big accounts or in times of trendy market. The drawback is the choppy market can wipe a small account VERY quickly, so the whole thing is to use rather large time frames or high take profits..

Hope this helps, you may want to test it on long term.. However for impatient people like me, this is not the best strategy to use (I like to scalp, i tend to dislike missing a trade and prefer rapid trades in and out in one day)

[shlomy]

Helllo Gazuz.
I already implemented the EA for the cci strategy and I have got about 220 demo pips a month. Is it sounds good? did you get better?
BY the way, I made a backtesting of five month.
Tell me what you think.

[gazuz]

Some questions for you shlomy:

-How long have you been running the demo
-What settings are you using
-Which time frame
-Which currency pair(s)?
-How big was the initial account

You need to watch out for whipsaws, let me know when you started the demo and all the other questions and I'll let you know if you are heading the right direction or not

[tasse]

Hi Guys/Girls

I have gone thru the whole thread but cant find the explanation of this indicator. Can someone kindly explain how to set this indicator up in MT4.

Many thanks in Advance

cheers
tasse

[shlomy]

Hello Gazuz!

I have backtested the EA code from October 2006 to April 2007.
I found that the best results are achieved with 1h time frame.
I use CCI(50) for entering a trade and MA's (13 and 26) to close a position.
I started with 10000$ demo pips and finaly got 26750$. Ican send you the graph if you want. Do you get better results?

[shlomy]

Hello Gazuz.

A graph of an EA describes a period of 6 months.
Keep me informed what you think.
Did you get better results?

[Texson5]

Hi gazuz,

How do I import this into metratrader4?

Thank you.

[marko [IRL]]

Is someone use this system yet?

[bullcity]

Can someone explain how to set this indicator up in MT4?

Thanks