I'd be more prone to short this than go long.
Attached Image (click to enlarge)
My own developed benkyalate system
- #382
- Nov 3, 2008 1:36am Nov 3, 2008 1:36am
Long CFD Trade EURUSD Date 03/11/2008
Chart 1: Entry
Long trade
Price bounced on support line of the Polynomial Regression Bands.
RSI 8 (thin white line) crossed the RSI Average (red line)
MACD histogram: Round Top pattern
Profit target was the Ema(55) with green color.
Reward/Risk around 1:1 (see dashed red lines on first chart)
Chart 2: Exit
Profit target was reached
Account
Profit around +100 pips on Demo
The Oan template was used with on top of it the addition of following ma's:
ema8, ema21, ema34, ema55, sma89, sma200
The ma's are used for profit targets on the 4h chart.
Chart 1: Entry
Long trade
Price bounced on support line of the Polynomial Regression Bands.
RSI 8 (thin white line) crossed the RSI Average (red line)
MACD histogram: Round Top pattern
Profit target was the Ema(55) with green color.
Reward/Risk around 1:1 (see dashed red lines on first chart)
Chart 2: Exit
Profit target was reached
Account
Profit around +100 pips on Demo
The Oan template was used with on top of it the addition of following ma's:
ema8, ema21, ema34, ema55, sma89, sma200
The ma's are used for profit targets on the 4h chart.
Thank you oan4fx for sharing your method.
It caught my interest, but I am lost in confusion.
And you guys adding more indicators to the mix add also to the confusion.
I amagine that I am not alone.
We have like 5-6 different templates floating around in the screenshots and nobody knows who is posting what.
Lets presume we are using the \"oan\" template on H4 and the 6/11 entry scale.
So we need 6 out of 11 points to enter a position.
Example:
So we hit the dotted red line and the average candle is 3 steps up, but since the candle is long and we are entering overbaught conditions, the rsi and the cci are supposed to point up.
So, we currently have 4 out of 11 points (2 for red dotted...
my regards.
Hi All,
OanFx many thanks for sharing your system with us.
OanFx can you please tell us which template to use ? You posted two files :
- Post 1 of this thread : prince2.zip
- Post 206 of this thread : arabictrader.zip
I want to use this strategy as described in first post, on 4 hour chart.
- Which template should I use? abo3oon or oan?
- you said \"oan template for big movements\", what do you call big movements?
Thanks for your help ! shoukran.
big movements i mean when you notice a big turblent move in a currency you use oan template thats all example eur usd in now adays is moving 200 - 600 pips per day so you use oan template.
my regards.
oan.
\\"2-start with .5 % then add every 50 pips to stop loss at 200 pips away .(this way you will minimize your loss more than 50% and maximize you profit.)\\"
I'm not quite sure i understand what you are saying. Can you please clarify how you add to your position? Once you place a buy, you then add to the position every 50 pips lower right? Is the 200 pip SL on the total position from initial entry, or 200 pip SL calculated from each 50 pip buy?
first of all i want to clear some thing i am ellottion so i use elliote a lot to trade and i have read a lot about dow and ohn morphy and elliot him self we all have to believe in some thing important that price moves in cycles up and down in the same direction it is moving on so i determine the trend from a fundemental view and then elliot view and dow view and i foud the best way to trade vaue in this market is to divide your over all position to small positions that you enter with smae direction in the trading period and put a stop loss which i hitten thats mean that your elliot or fundemental seniro is wrong.
so yes enter a position let ay you have 1000 dollar you can use up to 5 % o your equity power so 200 dollares in the same time of trade.in big hedge funds they use half precent as maxiumum but here as a retialer you can risk depending on your starting capital 1000 dollar risk 5 % 10000 risk 3 % 100000 risk 1 % and so .
so back to our example 1000 dollar you can risk 200 $ in a position so you are welling to loose 200 $ as maxiumum also couse the amount you risk should be the amount you are welling to loose .
200 $ with 100 leverage is 20000 $ you can have 2 mini lots or 20 micro0 lots and in this sitution hen your account is 1000 up to 5000 you should use micro lots only .
in 5000 up to 25000 you use minilot .
in 25000 up to 100000 and more you use standerd lots.
ok back to our example 1000 $ you can risk 200 $ loss 200 $ to gain the maxiumums you can from your risk and in the smae time minimize your loss and make it less than 200 $ you divide your positions .you have 20 micro lot you start with one micro lot then add after 20 - 50 pips movement against you 2 micro lots then ater another move against you 4 micro lots and then 8 micro lots .and like this until you be stoped out by stop loss .
now what i do i take proit 50 pips for every position to reforce my equity or close break event what do i mean i mean that i i entered a trade and ayd ohhhhhhhh i am in the wrong side what shall i do or my estimated side will take some time to come back to course so what i do i just use the similaer stratgy with takeing profit for th epoitions i reforced my original position with .
my regards.
oan.
thanks for all that have posted there results and to be honest i made this system with a help of many arabic traders
the one how provided me with equtions was abosolutan in arabictraderforum
the one how provided me with the indicators and way to manipulate them was prince7op
the one how supervised the prodctuion of this indicator and match it with the real one and he have a lot of experiance is a saudian trader his neck name is almoharer alsahfy
so you need to thank them all over there and also a lot of others arabic traders that made this system come to life .
my regards.
oan.
the one how provided me with equtions was abosolutan in arabictraderforum
the one how provided me with the indicators and way to manipulate them was prince7op
the one how supervised the prodctuion of this indicator and match it with the real one and he have a lot of experiance is a saudian trader his neck name is almoharer alsahfy
so you need to thank them all over there and also a lot of others arabic traders that made this system come to life .
my regards.
oan.