General Trading Discussion Digest for Monday October 2, 2017

3 new threads and 4 replies from 5 authors in the "General Trading Discussion" community ... This morning (Oct.2 ) I tired to open my Forex.com demo account but was unable to due to the fact there is apparently an update that needs to be... [Complete Currency Trader]() [General Trading Discussion]( [Post New Message](mailto:COMPLETECURRENCYTRADER-generaltradingdiscussion@ConnectedCommunity.org) [] Oct 2, 2017 started 13 hours ago, [Jim Gregor]( (0 replies) [Forex.com demo account]( [external link to thread view]( 1. [This morning (Oct.2 ) I tired to open my Forex...](#m0) Jim Gregor started 14 hours ago, [Afaque Mirza]( (0 replies) [Forex Market Hours desktop clock]( [external link to thread view]( 2. [www.forexmarkethours.com/... <](#m1) Afaque Mirza started 15 hours ago, [Mike Ferguson]( (0 replies) [Link for Live Session]( [external link to thread view]( 3. [Good morning! Is there a link to this week’s...](#m2) Mike Ferguson started 6 days ago, [Roderick Burdon]( (5 replies) [Currency Strength Chart]( [external link to thread view]( 4. [Hi Brian A few queries about the chart, if...](#m3) Roderick Burdon started one month ago, [RODNEY Spurr]( (1 reply) [Intro to CCT]( [external link to thread view]( 5. [Mr Edward just a quick note to say thank you...](#m4) Robert started 3 months ago, [James Edward]( (14 replies) [Ask James Anything]( [external link to thread view]( 6. [Mr Edward thank you so much once again, your...](#m5) Robert started 4 months ago, [Brian Stickney]( (53 replies) [Please Introduce Yourself]( [external link to thread view]( 7. [Hi everyone, Just a quick hello.  Sorry no...](#m6) Robert [] [top](#toca) [next](#m1) 1. [Forex.com demo account]( [Reply to Group](mailto:COMPLETECURRENCYTRADER_generaltradingdiscussion_25f43377-b40d-4491-8416-2346fac86c97@ConnectedCommunity.org?subject=Re: Forex.com demo account) [Reply to Sender]( [Jim Gregor]( Oct 2, 2017 10:40 AM [Jim Gregor]( This morning (Oct.2 ) I tired to open my Forex.com demo account but was unable to due to the fact there is apparently an update that needs to be installed. I was unable to locate any information on how to update the platform, so I looked into opening a new account. The application says it's only good for thirty (30) days. I've been practicing with this account for a year and assuming it reaches a point of expiration. I've gained a sense of familiarity with the setup, platform etc., and am somewhat concerned how the new platform will change, if at all, and how I put the CCT templates onto the charts. Also, will I need to keep creating a new account every 30 days, or is there an alternative platform that is recommended? I also still refer at times to the old dashboard, which now appears to be frozen - I'm assuming that since I'm not receiving data from the Forex.com site that it is also not feeding the old dashboard? I've also been unable to locate the email with the link to the live trading sessions that I usually get from Brian each week. Any help with these concerns is greatly appreciated. Jim Gregor [Reply to Group Online]( [View Thread]( [Recommend]( [Forward]( [] [top](#toca) [previous](#m0) [next](#m2) 2. [Forex Market Hours desktop clock]( [Reply to Group](mailto:COMPLETECURRENCYTRADER_generaltradingdiscussion_496d338e-e943-4f69-b3b8-832be4dde366@ConnectedCommunity.org?subject=Re: Forex Market Hours desktop clock) [Reply to Sender]( [Afaque Mirza]( Oct 2, 2017 10:01 AM [Afaque Mirza]( [www.forexmarkethours.com/...]( ------------------------------ [Alam] [Mirza] [Engineer] [Banker] [Horizon Metals] [Sydney] [NSW] [alwaz1@bigpond.net.au] ------------------------------ [Reply to Group Online]( [View Thread]( [Recommend]( [Forward]( [] [top](#toca) [previous](#m1) [next](#m3) 3. [Link for Live Session]( [Reply to Group](mailto:COMPLETECURRENCYTRADER_generaltradingdiscussion_1cc5edd4-4879-4c10-8235-db9231fd4bfe@ConnectedCommunity.org?subject=Re: Link for Live Session) [Reply to Sender]( [Mike Ferguson]( Oct 2, 2017 8:19 AM [Mike Ferguson]( Good morning! Is there a link to this week’s live sessions? Thank you, Mike Ferguson mfergok@me.com 918-810-2101 Cell [Reply to Group Online]( [View Thread]( [Recommend]( [Forward]( [] [top](#toca) [previous](#m2) [next](#m4) 4. [Re: Currency Strength Chart]( [Reply to Group](mailto:COMPLETECURRENCYTRADER_generaltradingdiscussion_e7da866b-4011-4834-8c64-f58eb1da29ac@ConnectedCommunity.org?subject=Re: Currency Strength Chart) [Reply to Sender]( [Roderick Burdon]( Oct 2, 2017 7:09 AM [Roderick Burdon]( Hi Brian A few queries about the chart, if you'd be so kind: 1. The video you provided is excellent, thank you. I've successfully beefed up the lines and entirely solved the problem I was having. Is it possible to make these new line widths the default so that I don't have to change them all every time I use the chart? 2. On the 'Common' section of the indicator control panel there is a check box for 'Allow DLL imports'. Please, what are DLL imports and should this box be checked or unchecked in normal operation? 3. On my broker's MT4 version the chart is listed under 'indicators' alongside Stochastic/MACD/MA's/RSI, etc. As dragging it across from this list seems to work alright, I take it this is installed correctly? Thanks again for your help. ------------------------------ Roderick Burdon ------------------------------ [Reply to Group Online]( [View Thread]( [Recommend]( [Forward]( ------------------------------------------- Original Message: Sent: 09-28-2017 11:32 From: Brian Stickney Subject: Currency Strength Chart Hi Roderick, Thank you for your email.  If you are struggling with the colors of the lines and can not find alternative colors to make them easier to read, you can actually change the line type or thickness.  I've recorded a quick video to help: [CSI line changes]( Screencast.com remove preview CSI line changes Free online storage and sharing with Screencast.com. 2 GB of storage and 2 GB of bandwidth per month for free. We won't compress, alter or take ownership of your content. [View this on Screencast.com >]( I hope this helps! Kind Regards, Brian ------------------------------ Brian Stickney ------------------------------ Original Message: Sent: 09-26-2017 12:54 From: Roderick Burdon Subject: Currency Strength Chart Hi Folks I'm having difficulty relating colours of the lines on the chart to the tell-tale colours at the top, even on a decent-sized (19in) monitor. CHF and CAD are so similar that it is hard to identify them or tell them apart on the chart and the same goes for EUR and GBP, The tell-tale for USD is invisible and that for NZD is very faint. I've watched James's installation video again and can see the facility for editing the colour but I don't think there are are a sufficient number of distinctive colours in the palette to provide clear differentiation. I don't think I have any colour-blindness problems,either. Is it just me needing to stop being a cheapskate and spring for a better monitor or are others struggling? One answer might be stronger lines on the chart to make the colours stand out more, or text signals on the chart to identify the currency if you hover the cursor over a line? One for the wish list in in a future update of the software, perhaps? ------------------------------ Roderick Burdon ------------------------------ [] [top](#toca) [previous](#m3) [next](#m5) 5. [Re: Intro to CCT]( [Reply to Group](mailto:COMPLETECURRENCYTRADER_generaltradingdiscussion_3efab326-1782-46a8-bafc-23b223a6e77b@ConnectedCommunity.org?subject=Re: Intro to CCT) [Reply to Sender]( [Robert]( Oct 2, 2017 1:25 AM [Robert]( Mr Edward just a quick note to say thank you very very much!!! I finished watching for the first time your Cybernetcs and Inception courses and they have been...MIND-BLOWING!!!  They totally changed my perception/approach to Forex trading!  I loved every moment, AWESOME!  Extremely well done!  I am relatively new to Forex and EXTREMELY GRATEFUL to you for putting me on the right path so early on in my journey.  I would absolutely love to continue with the more advanced courses however to be totally honest I am currently broke. Once I begin trading live, making profits and can afford to continue with the additional courses I most definitely will! Thank you very very much once again! Robert ------------------------------ Robert ------------------------------ [Reply to Group Online]( [View Thread]( [Recommend]( [Forward]( ------------------------------------------- Original Message: Sent: 08-29-2017 02:12 From: RODNEY Spurr Subject: Intro to CCT Hi James and all , Coming to you from Redland Bay Queensland Australia. Viewed the CCT intro course about 2 years ago but didn't understand half of it . Have just completed again with a huge better understanding . My goal is to be a full time trader. Still on original account but still break even . Needed to reset my trading false ways. The Strength Currency chart shown is set up for 1 hour , 3 hour and 7 hours. I also have a Currency Strength heat map for percentage up/down strength live time. Run it on my MT4 through my Sydney broker. Have 2 screens which I can change in an instant to follow strength and weakness. Just brilliant. Live trading on a mini. Learning early sets ups and feeling more confident than ever. Thanking you James Regards Rodney Spurr [] [top](#toca) [previous](#m4) [next](#m6) 6. [Re: Ask James Anything]( [Reply to Group](mailto:COMPLETECURRENCYTRADER_generaltradingdiscussion_dbc7adda-f77c-4eef-83df-f3d0dceaf220@ConnectedCommunity.org?subject=Re: Ask James Anything) [Reply to Sender]( [Robert]( Oct 2, 2017 1:29 AM [Robert]( Mr Edward thank you so much once again, your trading approach unlike any other I have seen and makes perfect sense! May I be a nuisance and extract more key trading information from you please. Q)  From the screenshots I have seen you appear to use price bars as opposed to Japanese candlesticks and no doubt for good reason. If I am correct to assume you prefer price bars may I ask what your reasoning for doing so is please?  (Also that being the case your expert opinion on Japanese candlestick formations please?) Q)  Would recent choppy/volatile market movement on a particular pair have any influence on your decision not to enter a trade on that pair despite getting strong entry signal from the Currency Strength Indicator? Q)  When you refer to 'pattern recognition' just to confirm please that is on the Currency Strength Indicator talking about a good divergence signal between currency's as opposed to chart patterns such as wedges, double tops/bottoms, pennants etc? Q)  Please correct me if i am wrong, from my limited understanding you don't use standard technical analysis tools such as support and resistance, trendlines, chart patterns, Fibonacci or indicators such as the MACD, Stochastic. I was wondering on the rare occasion do you ever use any of these technical analysis tools in your trading?  (For example using a MACD for divergence?) Thanks heaps in advance, Robert ------------------------------ Robert ------------------------------ [Reply to Group Online]( [View Thread]( [Recommend]( [Forward]( ------------------------------------------- Original Message: Sent: 09-29-2017 02:11 From: James Edward Subject: Ask James Anything To some extent, yes I think mean reversion plays a role in forex on a larger scale A, insomuch as due to the necessity of equilibrium between currency values, then as one goes up, another must go down and so on. Eventually they will all keep balancing each other out back to a mid point. However, I don't think mean reversion plays a role with things like moving averages. Price doesn't return to a moving average - the moving average returns to the price. Funny you should mention this because it's exactly the example we we use week 2 of the cybernetics course talking about causation and correlation this coming Monday. No I don't reference higher time frames when trading lower time frames. All new moves start on the smallest time frame first, so higher time frames are "lagging" if you like. Maybe that's not the correct term. In reality I think lower and higher time frames are unrelated. What moves price from minute to minute on an intra-day basis is market micro-mechanics at the immediate depth of market level, and the commercial bank desks packets for that particular working 8 hour day.So from one day to the next, and intra-day, it's the shortest of time frames that lead the higher time frame, up to the end of the working day. What moves price over weeks and months is capital flows and macro economics. These are completely different and are driven by fundamentals. It's two different styles of trading. No, I never take counter trend trades. What's happening now is more likely to keep happening so I'd rather follow the market rather than try to predict a reversal. Or do you mean trade small pull backs in the opposite direction to the trend? In that case, it's still no. A trend for me is the direction of a currency for a particular market session. If a currency is strong during London, but then starts to pull back, I won't trade it down as long as it is still above it's starting zero point from the open. That's just a personal preference for me. ------------------------------ James Edward London ------------------------------ Original Message: Sent: 09-28-2017 09:43 From: Robert Subject: Ask James Anything Thank you very very much Mr Edward for taking the time and effort to answer my questions I really appreciate it!  Most often these key bits of advice make all the difference.  Everything you say makes so much sense!  Sorry to bombard you with noob questions especially if they have been answered elsewhere.  I was also wondering please... Q)  Does the concept of mean reversion (i.e. price eventually returning to a moving average) ever play a factor in your decision to take a trade? Q)  When trading the M5 timeframe do you ever reference the higher timeframes for your trade decisions? Q)  Do you take counter trend trades if the Currency Strength Indicator gives you a strong signal to do so? Thanks heaps in advance, Robert ------------------------------ Robert Original Message: Sent: 09-27-2017 14:06 From: James Edward Subject: Ask James Anything Hi Robert, I personally trade with 5 minute charts. The reason for this is due to the ATR stop loss tool that I use. 1 minute charts would give me a little too tight of a stop loss for my preferences. I never wait for a price bar to close. The open and close of a bar is meaningless as there isn't actually an open or close... the price is in continuous motion. I'll enter a trade as soon as I see the price moving the way I want it to, regardless of whether a price bar has just started or is about to end. I've never really looked at renko charts in detail, but from my understanding, they don't show the full range of price movement do they? They work in bricks of fixed size and if the price doesn't create that size, a brick is not painted. So the real price may go up 10 pips, but if the renko is set to 20, no brick appears? For me, price is the most important thing we can analyse so I wouldn't want to use any indicator that removes or ignores any portion of it. ------------------------------ James Edward London Original Message: Sent: 09-27-2017 12:40 From: Robert Subject: Ask James Anything Btw.  Mr Edward I am soooo sorry.  I sincerely apologize for spelling your surname incorrectly.  I have 2 friends with the surname of Edwards and my little brain was on auto-pilot.  [Facepalm] ------------------------------ Robert Original Message: Sent: 09-27-2017 07:35 From: Robert Subject: Ask James Anything Hi Mr Edwards (and all other fellow members), I am new here so thank you for this great opportunity, I really appreciate it!  I am also relatively new to Forex and from what I can tell so far I like your style, it makes perfect sense.  May I ask please regarding your own personal Forex trading approach please... Q)  Out of the M1, M5 or M15 timeframes which is your favorite? Q)  Do you always wait for the bar/candle to close before entering a trade? Q)  Would you recommend trading off Renko charts? Thanks heaps in advance, Robert PS.  My sincere apologies if these questions has been answered elsewhere, I tried searching but I can often be blind. ------------------------------ Robert Original Message: Sent: 06-22-2017 02:33 From: James Edward Subject: Ask James Anything Stephen, When a chart goes in to a tight range, you need to look at that in context of the day so far. All a tight range really tells you for sure is that there is no real price imbalance or activity right now, but that doesn't mean it won't change later. If London opens and usually has a 80 pip range for example, and in the first hour only moves 5 pips, it is unlikely that's all for the day. There is likely to be some increased movement later. On the other hand if the price moves 120 pips in the first 2 hours and then goes in to a narrow range, then it is more likely that there will be no more movement (or very little) in the same direction and the currency is exhausted. Always try to put things in context of the wider perspective such as time of day, the movements so far, the momentum of the move (speed and range over time) etc. ------------------------------ James Edward London Original Message: Sent: 06-21-2017 08:00 From: Stephen Woods Subject: Ask James Anything James On your point about daily trading ranges, when we see a chart going into a consolidation phase can we assume that a daily trading range has been reached and the instututional orders have more or less finished form that particular day ------------------------------ Stephen Woods Original Message: Sent: 06-21-2017 07:32 From: James Edward Subject: Ask James Anything Maryna, I don't use support and resistance. There is zero evidence to suggest those things even exist and lots of evidence to show that random lines are equally as valid (not valid at all). For support or resistance to be real, it would mean excess limit orders at certain price levels. If a level was resistance above the current price, it would mean there had to be an excess number of limit sell orders there. Vice versa support would mean excess limit buy orders below the current price. Limit orders are visible on level 2 depth of market so everyone would know in advance where these huge orders are. To be hidden, pending orders would need to be market orders, and in this case they would act totally opposite to support or resistance and would in fact accelerate the price in the same direction once price reached and triggered the orders. Support and resistance, like almost all technical analysis, is a figment of imagination born of a human mental trait called Apophenia, which is a tendency to perceive meaningful patterns in random data. We see faces in clouds and patterns in random price movements. None of it is real and doesn't offer any edge in trading. My style of trading is very simple. I buy currencies going up and sell them going down. I don't know why they are going up or down and I can't predict that direction or how long  it will continue, but I do know that due to the order flow structure and micro-mechanics of an auction market environment, if I pair strength against weakness and wait for momentum (which is the rapid consumption of liquidity behind the market), I have a slight edge that will play out over the long term. Your breakout trading is a great example of something simple, that works because it follows the market. Your use of daily ranges is a good technique. A pair will have an average daily range because of how much interest there usually is on the pair, and how much money is usually exchanged. To move the EURJPY 100 pips in a straight line (1000 price levels), will typically take a billion Euro's. That's a lot and rarely does any participant or group of participants deal with more than that in a day; hence 'average' ranges. If the price has reached the daily average, it is a sensible bet that it won't go much further. Obviously it can, but more often that not it won't. Reaching a daily range doesn't mean the price will reverse either... just that normally it has run out of money and not much more will happen. ------------------------------ James Edward London Original Message: Sent: 06-21-2017 02:38 From: Maryna MURRAY Subject: Ask James Anything Hello James, I watched the video you posted yesterday and found it very informative to see how you use currency correlations in your trading. I've done some research of correlations and for instance that OIL is correlated to CAD and dairy is correlated to NZD for example, so I will always watch the price of Dairy and impact on NZD. This is more related to commodities affecting currencies though, so I will definitely do more research on currency correlations and thanks so much for bringing this to our attention. I also noticed that you don't use resistance/support in your strategy (video), so how do you establish your entries/exits and targets or do hedge-fund managers use other proprietary tools or as I often hear, Pivots? I've tested pivots, but found that they are often "missed" and then tested a missed pivot indicator that seems to be more effective, but I still find "clear" charts with minimum (lagging) indicators the best. No doubt that hedge funds are not using resistance and support, but for now, this is all I have to guide me and I also use the Average Daily range to determine how much a pair can possibly move in a day. Your inputs will be much appreciated! Maryna ------------------------------ Maryna MURRAY Original Message: Sent: 06-19-2017 05:33 From: James Edward Subject: Ask James Anything Please use this thread to ask any and all trading related questions, and I'll do my best to provide answers and advice to help. ------------------------------ James Edward London ------------------------------ [] [top](#toca) [previous](#m5) 7. [Re: Please Introduce Yourself]( [Reply to Group](mailto:COMPLETECURRENCYTRADER_generaltradingdiscussion_686c75dc-8248-4cbb-99c2-75d3e342519c@ConnectedCommunity.org?subject=Re: Please Introduce Yourself) [Reply to Sender]( [Robert]( Oct 2, 2017 1:22 AM [Robert]( Hi everyone, Just a quick hello. Sorry no exciting story to tell here, I am relatively new to Forex, I am 19 and currently broke but fortunately debt free. I am very grateful to have found CCT! Thank you very very much for giving me the correct approach and putting me on the fast track to trading success! Robert ------------------------------ Robert ------------------------------ [Reply to Group Online]( [View Thread]( [Recommend]( [Forward]( ------------------------------------------- Original Message: Sent: 10-01-2017 20:49 From: Dave Arena Subject: Please Introduce Yourself Welcome Hugh! ------------------------------ Dave Arena ------------------------------ Original Message: Sent: 10-01-2017 20:25 From: Hugh Subject: Please Introduce Yourself Good evevning My name is Hugh.  I live in southern Ontario,Canada. I am a reletive newbie at Forex and am looking forwad to learning.  I trade the NY market and some London market.  I am doing some education currently.  Hoping to augment my retirement income with Forex trading. ------------------------------ Hugh Original Message: Sent: 05-22-2017 07:58 From: Brian Stickney Subject: Please Introduce Yourself Hi! Many of you already know me, for those that don't, my name is Brian Stickney. I've been with CCT since 2012 and help to provide coaching and customer service to our members. I love trading and enjoy helping our members reach their full trading potential. About me: I left the corporate world in 2005 to pursue my own ventures. In 2008 I discovered trading and found that this was exactly the business I had been searching for as it required no employees and could be done from anywhere in the world as long as you had a good internet connection. Like most traders new traders, I had many ups and downs and quickly discovered that a consistent approach and a trading edge are required for success. I met James in 2012 and loved what he had created with the CCT Education. I couldn't stop shouting from the tree tops how great the education is and how it can help new traders. Eventually, James brought me on board to help other members with their education. I now head up our live training room, provide group coaching, and work with individual members to help with their goals. ------------------------------ Brian Stickney ------------------------------ You are subscribed to "General Trading Discussion" as {EMAIL}. 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