CICR System (Currency Index Cross Referencing)

#1
Hey guys

Been checking out some of the posts in the forums so thought il share some of my insights as well...

I have seen some real amazing trading system on forex forums and honestly for those who spend thousands of dollars trying to learn forex, well i just wanna tell them one thing get active on forex forums and you will learn real amazing things.

My system is actually a combination of systems used on forex forums but is based on strength and weakness of individual indexes.

You will need to download the metatrader software "sigtrader" who provide index data eg. eurlfx, gbplfx, etc.

Please note this is a simple trading method so please dont complicate it too much and also if you dont have patience then this is not the system you are looking for. I am a swing trader so i have never tried this method on scalping but you are free to experiment.

So now coming to the method and the basic indicators you would need.

1) Macd(lemme know if u want me to attach it)
2) RSI (3) Arrow indicator
3) EMA 14
4) Heiken ashi candles


Ok now lets talk about the setup, there is some initial work involved but its worth it.

Firstly we have 8 individual currency index which are and these eight currencies can be paired in 56 different ways. I use two different metatraders.
In one of the metatrader i have created profiles which contain 7 pairs pertaining to every currency index.

Example for EURLFX the profile consists of EURGBP,EURUSD,EURAUD,EURCAD,EURNZD, EURJPY,EURCHF.
GBPLFX the profile consists of GBPUSD,EURGBP,GBPAUD,GBPCAD,GBPNZD, GBPJPY,GBPCHF
similiarly create currency profiles for every currency. The images below shall give you a clear under standing.

Now lets understand the concept. We will be tracking individual currency index and doing all our analysis on the index. I personally use a very simple RSI, MACD system.

Note: i use this is on a 4hr and daily timeframe. I am always on the lookout to see which currency is giving a RSI reading where all the RSI arrows are pointing down from HI to MN timeframe.

Whereever i see all the rsi arrows pointing down on any of the individual index that will be the currency which i am interested in trading. One of the best ways to catch all rsi pointing down is to look at the
individual currency index on the daily timeframe.

On day opening i look at the daily 3 rsi angle just to see where is the currency heading down or up.

We trade if and only if following situation arise. Each time you see the RSI 3 pointing down and is coming down from above 70 or going up from below 30 on daily tf then we shall see the arrow direction of the weekly and monthly. I like to see the arrows pointing in the same direction.

Example : on 12th september 2011 day open the AUDLFX index was pointing down and weekly and monthly rsi arrow also pointing down the lawgirl rsi indicator will give you a instant reading on top of your charts, however make it a point to check the 3 rsi visually by going into weekly and monthly timeframes.It doesnt matter whether a currency is on the base side or the counter side. Any pair can give you a trade.

So now that i know the aud index is going down , i will open the AUD profile which consists of all pairs where aud is involved which are audusd, audjpy, gbpaud, euraud, audnzd, audcad, audchf.

Again i am looking to trade only that currency pair which gives me a rsi reading where all timeframes are in the same direction and i ensure prices start trading above 14 ema. Here i use the heiken ashi to give me a more clear picture.

So on12th september 2011 day open you will be amazed to see that all aud pairs gave a trade but our point is to pick the best ones.
And the following pairs would show all rsi timeframes in the same direction, AUDUSD,AUDCAD and AUDJPY.

Note: If an individual index gives me a reading where the daily and weekly rsi is in the same direction but the monthly is not I still go ahead and check the profile for that currency to see if any currency pair is showing me a reading where daily weekly and monthly are in the same direction.

Exit strategy is simple I use the first macd cross after the point of entry to close the position. For example if i opened the above positions then i would close audusd on 15h september 2011
AUDJPY on 15th september 2011 AUDCAD on 15th sept for roughly 500 pips.

So in september itself, Cadlfx gave two positions one is on 6th september just the cadchf which went on for more than 1200 pips.
then it turned down on 19th of sept again giving you super positions on EURCAD,GBPCAD,USDCAD again for more than 2000 odd pips, you do the math.
Again NZDLFX gave positions on 21st sept, GBPLFX on 23rd, USDLFX on 2nd september.

If you follow the same method from the start of every month you will easily get a minimum of 5 - 7 highly profitable positions every week.

One interesting point to note is that the first 10 days of the month give the best trades maybe because the monthly rsi takes longer to take a certain direction.

questions are welcome...

I am not a coder so EA's are welcome, any improvisations will only make it better.

Cheers
 
#2
Hi Miss,

This is indeed a great post and your strategy is indeed nice. The only thing is you would need to keep looking and hunting for trades. Also not many times, you will get RSI coming down from 70 and going up from 30 on 4 Hr Candles. What do you do if its coming down from 60 or going up from 40? Do you get in the trade?

My trading strategy is very much align to yours as far as indicators are concerned. I also use Bollinger Bands, MACD, RSI, Moving Avg and ATR for Stop Loss calculation. Charting would be on candle sticks. Time frames are 30 Mins and 1 Hr. Tough I check the trends on 4 Hrs and Daily. I mostly trade on EUR USD & GBP USD. As I am doing in part time, Cant really concentrate on multiple TF's and multiple pairs.

1. How much pips you make if you make on weekly basis are doing it in full time?
2. What is your stop loss strategy.?
3. Which broker you use and how do you withdraw funds if you are trading from India.?
4. Which city you are from? I am from Mumbai.

I am trying to create contacts in Mumbai who are trading forex so that we can meet and discuss strategies and other challenges. Hence asking such personal questions.

Regards,
Mehool.
 
#3
Hi Miss,

This is indeed a great post and your strategy is indeed nice. The only thing is you would need to keep looking and hunting for trades. Also not many times, you will get RSI coming down from 70 and going up from 30 on 4 Hr Candles. What do you do if its coming down from 60 or going up from 40? Do you get in the trade?

My trading strategy is very much align to yours as far as indicators are concerned. I also use Bollinger Bands, MACD, RSI, Moving Avg and ATR for Stop Loss calculation. Charting would be on candle sticks. Time frames are 30 Mins and 1 Hr. Tough I check the trends on 4 Hrs and Daily. I mostly trade on EUR USD & GBP USD. As I am doing in part time, Cant really concentrate on multiple TF's and multiple pairs.

1. How much pips you make if you make on weekly basis are doing it in full time?
2. What is your stop loss strategy.?
3. Which broker you use and how do you withdraw funds if you are trading from India.?
4. Which city you are from? I am from Mumbai.

I am trying to create contacts in Mumbai who are trading forex so that we can meet and discuss strategies and other challenges. Hence asking such personal questions.

Regards,
Mehool.
Hey Mehool
Yes, am from mumbai, we have our own trading group
We trade our own setups with rsi no other indicators.
We focus on first 10 days for mega trend trades which ranges between 300 to 800 pips
First monday of each week for 100 to 150 pips per trade
And session trades usually for 40 pips per trade
Stoploss is as per the atr projection for the day.
Trend trades we follow a different strategy all together.

Cheers
 
#4
Hi Miss,

It is good to know that you are from mumbai and that you are not alone and a group of people trading together. This really makes a difference. I have few other queries :-

1. Are you a full time trader.
2. Is the trading group you mentioned, all of them are in mumbai? how many people.?
3. Is it possible to meet you and your group to discuss strategies and challenges I am currently facing.

I am really serious about forex trading and would like to make this as a full time career in near future and you can be of great help.

Will appreciate if you can also revert on mehoolsheth at gmail dot com

Regards,
Mehool.
 

Rkji

Well-Known Member
#5
well, missforex ... somehow the very first thing i look in a thread is a CHART.

talk through charts.

regards
rishi
 

4xpipcounter

Well-Known Member
#6
Miss Forex, here's something that also works. AMAF, I was just discussing this via e-mail with someone. Just as you said, go through all the indexes, as per your instructions. Find the first index that meets your criteria, where everything is pointing in the same direction.

Now, here's the only change.
Let's say the first index you find is the AUDFx, and everything is pointing up.
The next thing to do is find the first index where everything is pointing down. Let's say that would be the CADFx. Afterward, head over to the AUD/CAD and enter your position, in that case going long. That type of situation happened on the USD/CHF on the week of AUG. 7th. Look what has happened since.
The USD/CHF would have also met all your criteria on Aug. 7th.

Here's another thing you can try. Plot the indicator, complex commons on a chart all by itself. That indicator has a line for each of the 8 majors. It shows the OB/OS condition of all of them relative to how they stand with the rest. If one currency is extremely OB and the other OS, and that is the case on 3 consecutive TF's, don't think twice. Enter the trade on that pair.

You can probably tell I totally agree with you that currency cross-referencing is highly effective.

Try that out, then tell me what you think.


Hey guys

Been checking out some of the posts in the forums so thought il share some of my insights as well...

I have seen some real amazing trading system on forex forums and honestly for those who spend thousands of dollars trying to learn forex, well i just wanna tell them one thing get active on forex forums and you will learn real amazing things.

My system is actually a combination of systems used on forex forums but is based on strength and weakness of individual indexes.

You will need to download the metatrader software "sigtrader" who provide index data eg. eurlfx, gbplfx, etc.

Please note this is a simple trading method so please dont complicate it too much and also if you dont have patience then this is not the system you are looking for. I am a swing trader so i have never tried this method on scalping but you are free to experiment.

So now coming to the method and the basic indicators you would need.

1) Macd(lemme know if u want me to attach it)
2) RSI (3) Arrow indicator
3) EMA 14
4) Heiken ashi candles


Ok now lets talk about the setup, there is some initial work involved but its worth it.

Firstly we have 8 individual currency index which are and these eight currencies can be paired in 56 different ways. I use two different metatraders.
In one of the metatrader i have created profiles which contain 7 pairs pertaining to every currency index.

Example for EURLFX the profile consists of EURGBP,EURUSD,EURAUD,EURCAD,EURNZD, EURJPY,EURCHF.
GBPLFX the profile consists of GBPUSD,EURGBP,GBPAUD,GBPCAD,GBPNZD, GBPJPY,GBPCHF
similiarly create currency profiles for every currency. The images below shall give you a clear under standing.

Now lets understand the concept. We will be tracking individual currency index and doing all our analysis on the index. I personally use a very simple RSI, MACD system.

Note: i use this is on a 4hr and daily timeframe. I am always on the lookout to see which currency is giving a RSI reading where all the RSI arrows are pointing down from HI to MN timeframe.

Whereever i see all the rsi arrows pointing down on any of the individual index that will be the currency which i am interested in trading. One of the best ways to catch all rsi pointing down is to look at the
individual currency index on the daily timeframe.

On day opening i look at the daily 3 rsi angle just to see where is the currency heading down or up.

We trade if and only if following situation arise. Each time you see the RSI 3 pointing down and is coming down from above 70 or going up from below 30 on daily tf then we shall see the arrow direction of the weekly and monthly. I like to see the arrows pointing in the same direction.

Example : on 12th september 2011 day open the AUDLFX index was pointing down and weekly and monthly rsi arrow also pointing down the lawgirl rsi indicator will give you a instant reading on top of your charts, however make it a point to check the 3 rsi visually by going into weekly and monthly timeframes.It doesnt matter whether a currency is on the base side or the counter side. Any pair can give you a trade.

So now that i know the aud index is going down , i will open the AUD profile which consists of all pairs where aud is involved which are audusd, audjpy, gbpaud, euraud, audnzd, audcad, audchf.

Again i am looking to trade only that currency pair which gives me a rsi reading where all timeframes are in the same direction and i ensure prices start trading above 14 ema. Here i use the heiken ashi to give me a more clear picture.

So on12th september 2011 day open you will be amazed to see that all aud pairs gave a trade but our point is to pick the best ones.
And the following pairs would show all rsi timeframes in the same direction, AUDUSD,AUDCAD and AUDJPY.

Note: If an individual index gives me a reading where the daily and weekly rsi is in the same direction but the monthly is not I still go ahead and check the profile for that currency to see if any currency pair is showing me a reading where daily weekly and monthly are in the same direction.

Exit strategy is simple I use the first macd cross after the point of entry to close the position. For example if i opened the above positions then i would close audusd on 15h september 2011
AUDJPY on 15th september 2011 AUDCAD on 15th sept for roughly 500 pips.

So in september itself, Cadlfx gave two positions one is on 6th september just the cadchf which went on for more than 1200 pips.
then it turned down on 19th of sept again giving you super positions on EURCAD,GBPCAD,USDCAD again for more than 2000 odd pips, you do the math.
Again NZDLFX gave positions on 21st sept, GBPLFX on 23rd, USDLFX on 2nd september.

If you follow the same method from the start of every month you will easily get a minimum of 5 - 7 highly profitable positions every week.

One interesting point to note is that the first 10 days of the month give the best trades maybe because the monthly rsi takes longer to take a certain direction.

questions are welcome...

I am not a coder so EA's are welcome, any improvisations will only make it better.

Cheers
 

ashwani chadha

Well-Known Member
#7
Hey guys

Been checking out some of the posts in the forums so thought il share some of my insights as well...

I have seen some real amazing trading system on forex forums and honestly for those who spend thousands of dollars trying to learn forex, well i just wanna tell them one thing get active on forex forums and you will learn real amazing things.

My system is actually a combination of systems used on forex forums but is based on strength and weakness of individual indexes.

You will need to download the metatrader software "sigtrader" who provide index data eg. eurlfx, gbplfx, etc.

Please note this is a simple trading method so please dont complicate it too much and also if you dont have patience then this is not the system you are looking for. I am a swing trader so i have never tried this method on scalping but you are free to experiment.

So now coming to the method and the basic indicators you would need.

1) Macd(lemme know if u want me to attach it)
2) RSI (3) Arrow indicator
3) EMA 14
4) Heiken ashi candles


Ok now lets talk about the setup, there is some initial work involved but its worth it.

Firstly we have 8 individual currency index which are and these eight currencies can be paired in 56 different ways. I use two different metatraders.
In one of the metatrader i have created profiles which contain 7 pairs pertaining to every currency index.

Example for EURLFX the profile consists of EURGBP,EURUSD,EURAUD,EURCAD,EURNZD, EURJPY,EURCHF.
GBPLFX the profile consists of GBPUSD,EURGBP,GBPAUD,GBPCAD,GBPNZD, GBPJPY,GBPCHF
similiarly create currency profiles for every currency. The images below shall give you a clear under standing.

Now lets understand the concept. We will be tracking individual currency index and doing all our analysis on the index. I personally use a very simple RSI, MACD system.

Note: i use this is on a 4hr and daily timeframe. I am always on the lookout to see which currency is giving a RSI reading where all the RSI arrows are pointing down from HI to MN timeframe.

Whereever i see all the rsi arrows pointing down on any of the individual index that will be the currency which i am interested in trading. One of the best ways to catch all rsi pointing down is to look at the
individual currency index on the daily timeframe.

On day opening i look at the daily 3 rsi angle just to see where is the currency heading down or up.

We trade if and only if following situation arise. Each time you see the RSI 3 pointing down and is coming down from above 70 or going up from below 30 on daily tf then we shall see the arrow direction of the weekly and monthly. I like to see the arrows pointing in the same direction.

Example : on 12th september 2011 day open the AUDLFX index was pointing down and weekly and monthly rsi arrow also pointing down the lawgirl rsi indicator will give you a instant reading on top of your charts, however make it a point to check the 3 rsi visually by going into weekly and monthly timeframes.It doesnt matter whether a currency is on the base side or the counter side. Any pair can give you a trade.

So now that i know the aud index is going down , i will open the AUD profile which consists of all pairs where aud is involved which are audusd, audjpy, gbpaud, euraud, audnzd, audcad, audchf.

Again i am looking to trade only that currency pair which gives me a rsi reading where all timeframes are in the same direction and i ensure prices start trading above 14 ema. Here i use the heiken ashi to give me a more clear picture.

So on12th september 2011 day open you will be amazed to see that all aud pairs gave a trade but our point is to pick the best ones.
And the following pairs would show all rsi timeframes in the same direction, AUDUSD,AUDCAD and AUDJPY.

Note: If an individual index gives me a reading where the daily and weekly rsi is in the same direction but the monthly is not I still go ahead and check the profile for that currency to see if any currency pair is showing me a reading where daily weekly and monthly are in the same direction.

Exit strategy is simple I use the first macd cross after the point of entry to close the position. For example if i opened the above positions then i would close audusd on 15h september 2011
AUDJPY on 15th september 2011 AUDCAD on 15th sept for roughly 500 pips.

So in september itself, Cadlfx gave two positions one is on 6th september just the cadchf which went on for more than 1200 pips.
then it turned down on 19th of sept again giving you super positions on EURCAD,GBPCAD,USDCAD again for more than 2000 odd pips, you do the math.
Again NZDLFX gave positions on 21st sept, GBPLFX on 23rd, USDLFX on 2nd september.

If you follow the same method from the start of every month you will easily get a minimum of 5 - 7 highly profitable positions every week.

One interesting point to note is that the first 10 days of the month give the best trades maybe because the monthly rsi takes longer to take a certain direction.

questions are welcome...

I am not a coder so EA's are welcome, any improvisations will only make it better.

Cheers
dear miss forex,i thank you for sharing your thoughts on Forex, and particularly for converting it in to a perfect mechanical trading system,the concept explained was absolutely clear and i do agree that you have adopted one of the best style for screening of your trade set up and i congratulate you for giving such a wonder full post !!!
 

nvs

New Member
#9
the actual core system is dev by some indian guy and the thread is the most active on forex factory.. when u type cicr on FF you get it...
one of the best traders i have personally seen.
he there every day teaching and mentoring guys with his team
 

nvs

New Member
#10
I am following him regiliously in his mentoring group and thanks to him, trading improved from day one.
Good to see a Pro Indian trader and the rest of the world following him :)

Jai Hind
 

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