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BELLA SYSTEM. Let's try it, let's improve it!

  • #61
  • Oct 5, 2006 1:04pm Oct 5, 2006 1:04pm
Quoting monarch
I unfortunately was in several other positions and could not enter do to margin restrictions, but I hope to catch it on it's way back up. I have made a about 100 pips this week from the divergence system, I am trying it on several different currencies, and they seem to be working about 75% of the time.
Monarch
I have only been demo trading this system so far and it is looking interesting. What pairs other than cable and euro have you had good results using it with? I have only tried those 2 currencies so far.
  • #62
  • Oct 5, 2006 5:09pm Oct 5, 2006 5:09pm
I have been using the Bella System with several currencies, but they have not proven themselves to me yet. I have seen 7 different currencies that had divergences, and only 2 of the seven were unsuccessful. I have watched the these position profit 40 pips minimum in my studying of Bella.
I only targeted small pips for these trades before I allow myself to go further out for more pips.
If I had stayed in these trades longer I could have easily made over 500 pips since last Tuesday 10-26-06

List of Currencies I profited from on the Bella System
EUR/USD +15, 15, 7, 7, 17, 28 pips
CAD/JPY +20 pips
EUR/JPY +20 pips
GBP/JPY +40 pips
EUR/JPY +40 pips

I am in a losing trade as of now and that is EUR/CAD, my first losing trade in the last 15 trades that I have entered. It is still open, so we will see if it makes a gain or loss. I will close it out by News time Friday morning - no matter what!

Monarch
  • #63
  • Oct 5, 2006 5:27pm Oct 5, 2006 5:27pm
I am in a losing trade as of now and that is EUR/CAD, my first losing trade in the last 15 trades that I have entered. It is still open, so we will see if it makes a gain or loss. I will close it out by News time Friday morning - no matter what!

Monarch[/quote]

I had not watched that currency, but after your post I looked back and saw the divergence you most probably traded and which was followed by a downward cross. I assume then that you have a short position. It would appear to me that the currency has been mostly trading sideways since the most likely entry point and any loss would most likely be minimal.

You have just shown that you have had 10 successful trades and one possible failure. Even if that trade does not turn out those are still fabulous results. It is good to know that it works with all the yen pairs. Thank you for the information.
  • #64
  • Oct 5, 2006 9:08pm Oct 5, 2006 9:08pm
You are correct on position (Short EUR/CAD), it has been working it's way up slowly, then back down. I am waiting for it to top around the 1.4350 area, then make it's way down for the gain I am waiting for. I also wanted to let you know that when I make a decision with the Bella System, I am looking at several different systems I use, and I only enter the position when there is a good indication that it will be profitable. I never enter at a bottom or a top, the resistance and the supports play a major factor along with the trend the currency is in. I would like to just look at the Bella System, but it has not been proven to stand alone as of yet, so I will continue applying other information to the Bella System when I enter positions.

Good Trading - and keep learning!

Monarch
  • #65
  • Oct 6, 2006 1:37am Oct 6, 2006 1:37am
Quoting nuna1976
Hey Benito, thank you very much for your post, Interesting approach. Did anyone catch those 70 pips yesterday using bella? Regards.
Alfredo
Nah.... Only 40 pips, because late to turn on my computer.
  • #66
  • Oct 6, 2006 2:04am Oct 6, 2006 2:04am
Quoting Stan
Benitohau,
I am unfamiliar with OsMa and MFI.
What are they so I can try it out.
Thank you,
Stan
OsMa = Moving Average of Oscillator = MACD Histogram
This indicator shows the diffenrence between MACD and its signal (I think you know this one)

MFI = Money Flow Index
Like RSI but with volume in its calculation.

You can use them like other indicators: overbought/oversold levels, divergence, swing levels, cross the OS/OB line, cross the centerline, etc.

I like those indicators. If they both diverge from price usually I don't look for another indicators and I only wait bar closed to jump in right at the close price.
When I got three indicators, I get in with double lots and double again when EMAs cross over.
  • #67
  • Oct 6, 2006 10:39am Oct 6, 2006 10:39am
I spent the week studying the Bella divergence method, and trying to apply it to my other systems. I had a couple of close calls on some of my positions, but made out in the end. I made 9 trades using Bella with the assistance of the -25- System I added to this weeks indications. I made 8 gains and 1 loss. I should have been 9 for 9, but I was glad to get out like I did on the loss, which only turned out to be a -13 pip loss. For the week Monday through Early Friday (Closed out all positions before NonFarm News)
I registered a gain of 207 pips for the week. Not to bad, but I still have a lot to learn about the Bella divergence System and Forex trading.

Good Trading, and have a great weekend!

Monarch
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  • #68
  • Oct 7, 2006 6:45pm Oct 7, 2006 6:45pm
Hi Monarch!




Wanted to ask you on which decisions your Takeprofits are based?




Thansk bye!
  • #69
  • Oct 7, 2006 8:06pm Oct 7, 2006 8:06pm
Just thought this might help newbies like me.
Attached Image
  • #70
  • Oct 7, 2006 8:47pm Oct 7, 2006 8:47pm
Quoting monarch
I spent the week studying the Bella divergence method, and trying to apply it to my other systems. I had a couple of close calls on some of my positions, but made out in the end. I made 9 trades using Bella with the assistance of the -25- System I added to this weeks indications. I made 8 gains and 1 loss. I should have been 9 for 9, but I was glad to get out like I did on the loss, which only turned out to be a -13 pip loss. For the week Monday through Early Friday (Closed out all positions before NonFarm News)
I registered a gain of 207 pips for the week. Not to bad, but I still have a lot to learn about the Bella divergence System and Forex trading.

Good Trading, and have a great weekend!

Monarch
<!-- / message -->
HI Monarch just 1 ? , what is the -25- system.
  • #71
  • Oct 7, 2006 9:33pm Oct 7, 2006 9:33pm
Quoting FxBabe
Just thought this might help newbies like me.
Great FxBabe! Thank you for your help to this thread. Regards.
Alfredo
  • #72
  • Oct 7, 2006 9:38pm Oct 7, 2006 9:38pm
Quoting nuna1976
Great FxBabe! Thanks you for hellping the newbies. Regards.
Alfredo
is this rigth , if you expect to go long , you should mesure from the bottom and if you expect to go short from the top?

Thx in advance for the answer. LESTAT.
  • #73
  • Oct 7, 2006 9:51pm Oct 7, 2006 9:51pm
Hi Alfredo , just a couple more ??.

1-Do you trade sunday?

2-What markets you prefer to trade(european,usa,jap)meaning which works best with the sistem?

3-How often you check the charts(1/2 hour , 1 hour)

Thx in advance for taking the time to respond,I was advice of your sistem from Moonchild and said was very good so I'm looking foward to your ans.
  • #74
  • Oct 7, 2006 10:07pm Oct 7, 2006 10:07pm
Quoting David Sanchez
Hi Alfredo , just a couple more ??.

1-Do you trade sunday?

2-What markets you prefer to trade(european,usa,jap)meaning which works best with the sistem?

3-How often you check the charts(1/2 hour , 1 hour)

Thx in advance for taking the time to respond,I was advice of your sistem from Moonchild and said was very good so I'm looking foward to your ans.
Hey David,

1. I donīt trade sundays, ideally you have to give your brain a break from forex saturdays and sundays.

2. I like to trade when europe and usa overlap 7 to 11 Eastern time.

3. Normally I get up at seven, check out the charts and if I have an oportunity to trade, I try to open the trade and stop looking at the charts.

I hope this helps. Alfredo
  • #75
  • Oct 8, 2006 5:07am Oct 8, 2006 5:07am
Quoting David Sanchez
is this rigth , if you expect to go long , you should mesure from the bottom and if you expect to go short from the top?

Thx in advance for the answer. LESTAT.
I got it from this site.

http://www.incrediblecharts.com/tech...htm#Divergence
  • #76
  • Oct 8, 2006 8:46am Oct 8, 2006 8:46am
Hi Everyone,

The last thing I want to do is mess with a winning system.
I've traded divergence a long time and the best entrance I've found is price action.
I think the MA cross gets you in a little late.
On a short, I would enter on the first bar that's H,L,O and C are all less that its previous bar.
On a long I would enter on a bar that's H,L,O and C are all higher that the previous bar.

Just like the MA cross, this indicates that price really wants to go down/up. It will usually get you into the trade earlier than the MAs.

Again, I don't want to interfere with anything that works for you. This is just a suggestion.
  • #77
  • Oct 8, 2006 11:14am Oct 8, 2006 11:14am
Quoting billbss
Hi Everyone,

The last thing I want to do is mess with a winning system.
I've traded divergence a long time and the best entrance I've found is price action.
I think the MA cross gets you in a little late.
On a short, I would enter on the first bar that's H,L,O and C are all less that its previous bar.
On a long I would enter on a bar that's H,L,O and C are all higher that the previous bar.

Just like the MA cross, this indicates that price really wants to go down/up. It will usually get you into the trade earlier than the MAs.

Again, I don't want to interfere with anything that works for you. This is just a suggestion.
Hi Bill, all opinions are welcome, and yours is quite interesting, I began to trade price action for a few weeks and I am already a fan of it.

I think your suggestion is good, I will try it. Do you usually work with divergence in a 30 min chart?

Regards
Alfredo
  • #78
  • Oct 8, 2006 1:53pm Oct 8, 2006 1:53pm
Quoting nuna1976
Hi Bill, all opinions are welcome, and yours is quite interesting, I began to trade price action for a few weeks and I am already a fan of it.

I think your suggestion is good, I will try it. Do you usually work with divergence in a 30 min chart?

Regards
Alfredo
Thanks for the welcome, Alfredo.
I trade divergence on 1Hr, 4Hr or Daily charts. I've found that the longer the timeframe, to more valid the divergences.
The downside is there is more risk, because the SL must be larger on the longer the time frames.

I think 30Min is fine, though.

Let me try to clarify my last post.
I wasn't too clear.

On a short, after the divergence, I would enter on a bar who's O < than the previous bar's O and who's H < previous H and L< previous L and C< previous C.
The opposite ligic for a long.

I also use a select few candle formations, if they occur first, but that would overly complicate this effective yet simple method.
  • #79
  • Oct 8, 2006 5:08pm Oct 8, 2006 5:08pm
Quoting mr.trader
Hi Monarch!




Wanted to ask you on which decisions your Takeprofits are based?




Thansk bye!
I am working with several systems in my trading techniques. I typically will enter a position that I feel will go for 25 pips minimum gain. In the past 2 weeks I have made 17 trades that have all went for 25 or more pips, only 1 trade ended in a loss (I made an exit too early). If I had stayed in every position for the 25 pips desired I would have made 425 pip gain. I pulled the plug on a few trades early, and only ended up with 293 pips in 2 weeks. I am going to start this week trading 1 lot at each entry, then add 1 more lot if the price goes against me more than 15 pips. I then will have 1 lot making 25 pips, and 1 lot making 40 pips with a total of 65 pips per trade. This is an experiment I am trying, but I am using real money. Hope that helps you.

Monarch
  • #80
  • Oct 8, 2006 5:13pm Oct 8, 2006 5:13pm
I am using the Bella System in my trading technique. I refer to the -25- System which helps me in know there is a trend change upcoming. I make my decisions based upon the Bella System, but I do prefer having several other confirmations before I make my entry. You can find the -25- System under Forex Discussion Forum.

Good Trading.

Monarch
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