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My own developed benkyalate system

  • #1,181
  • Nov 23, 2008 3:37am Nov 23, 2008 3:37am
Quoting oan4fx
hello my friend i would like to welcome you in this forum and about the martingale system i use .i define a stop loss quantity so if my capital is 10000$ i am ready to loss 200 $ in a trade so i calculate my poitions on lossin just that amount only and i start to averae my poitions so that i can reach that goal and with this system if you trade 4 hour tf or trade lower time frames giving that you are in the trend way according to 4 hour time frame you will not ever ever loss believe me and welcome again
[size=5][color=blue]my...
Your martingale approach is only based on H4? IE, if I were to use the EA, which is your oan template, I can only attach to H4 chart?

Also, can you advice what are the currency pairs that you trade?
  • #1,182
  • Nov 23, 2008 3:41am Nov 23, 2008 3:41am
Quoting behof
Hi Folks !

The only thing I can add here is the fact that martingale works !
I'm doing quite well ;-))
The key is to handle probabilities in trading.
High probability being right => High leverage trades
This requires patience, patience, patience.....
(Like a lion who is lying under the tree for hours waiting for his meal.....)

I couldn't tell you more because I'm involved in trading for a major
trading firm in London where I trade my own funds and bigger customer funds.

Study well this thread and you will find the secret...

Good luck to...
A very dangerous system because it will blow your account very fast. Wondering how you control it? Can you please advise how you trade this system and what are the currency pairs that you are trading?
  • #1,183
  • Nov 23, 2008 3:58am Nov 23, 2008 3:58am
I have done some searches on google without much success on the martingale staking plan..I can find loads relating to betting but not alot about trading this plan on money markets

can any one point me to some good articles or links

cheers

Paulus
  • #1,184
  • Nov 23, 2008 3:59am Nov 23, 2008 3:59am
Quoting oan4fx
hi my friend i look at the 4 hour time frame and if there is chance there trade it if not i decide the trend way from it and trade it in the other smaller time frames .
the rules are easy price touch solid line in last system i posted then look at time indicator system if it is to colors only green and yellow buy and i it is three coloures blue yellow and green sell given that the price have touched the lower green solid line .
here is the system again.
[size=5][color=blue]my...
HI Oan

you mean any sold line ....you have also the white middle line ...what about the candle average
  • #1,185
  • Nov 23, 2008 4:03am Nov 23, 2008 4:03am
Quoting Fumiryu
Your martingale approach is only based on H4? IE, if I were to use the EA, which is your oan template, I can only attach to H4 chart?

Also, can you advice what are the currency pairs that you trade?
my friend i trade manullay i dont like machines and automated tradin and my system is all time frames just my way.
i trade any currency and any market.
my regards.
oan.
  • #1,186
  • Nov 23, 2008 4:16am Nov 23, 2008 4:16am
Quoting Moe2008
HI Oan

you mean any sold line ....you have also the white middle line ...what about the candle average
my dear average you sell poitions when the price touchs the solid blue line and average your buying positions when the price touch the yello solid line in 4 hour time frame or with the general trend in other time frames and you will do good.
about the middle line it is the equilibrium line so no trade there.
candle averae give you .81 or -.81 thats means you are in the safe side no.
my regards.
oan.
  • #1,187
  • Nov 23, 2008 5:43am Nov 23, 2008 5:43am
Hi Oan
I have just downloaded the Orabi file and the word document but I find that the document is in Arabic can you tell me how to get it in English please

thank you very much
Allan
  • #1,188
  • Edited 5:48am Nov 23, 2008 5:46am | Edited 5:48am
So open like 12 pairs in h4 and start to wait buy or sell signal.
(can somebody try to code alarm to crossing blue or yellow line)

Because if wait to get signal like only eur/usd must wait like a month to get it
perhaps.

Take profit ?

5 days average moving price move or touch with bolliger bands


put in this indicator value 1.0 and it will give 100% moving
average in days you put in value like 5 or 8 days atr
Attached File(s)
File Type: mq4 ATR in Pips.mq4   2 KB | 708 downloads
  • #1,189
  • Nov 23, 2008 5:50am Nov 23, 2008 5:50am
Quoting oan4fx
my dear average you sell poitions when the price touchs the solid blue line and average your buying positions when the price touch the yello solid line in 4 hour time frame or with the general trend in other time frames and you will do good.
about the middle line it is the equilibrium line so no trade there.
candle averae give you .81 or -.81 thats means you are in the safe side no.
my regards.
oan....
You not need that arabic info , this is about all you need "the rules"
  • #1,190
  • Nov 23, 2008 7:54am Nov 23, 2008 7:54am
Hi All,

I have been testing the ea further, and have adjusted the settings and added my own fiilter, and manually/visually backtested on different instruments.

What I have found is that although the ea has a high win rate, even 2-3 losses knock your equity back to the start.

So what I have done is this:

1) Add a MA to the chart.
2) Add a stoch to to the chart.

How I work this method is this:

1) If the trend is down (ie price under ma) only take short positions.
2) To have a valid short position, all the rules of this system must apply PLUS price must be under MA AND stoch must have turned or be turning from overbought.

I have been trading this method on 15min TF with 40 pip TP and 100 pip sl for safety. I set the ea as above, but put on manual confirmation. As I trade lots of different instruments, I am able to only pick the best signals. And if you only go with trades in the direction of the trend (on 1 hr tf) and stoch has turned the profits are very very high, and hardly any losses at all (maybe an unexpected event etc).

There are enough signals given to be really able to pick only the highest probability of success, and then you can really go for it in the safe knowledge that tou have everything in your favour, and if you do lose you sticked to the system and it happens.

I have always thought that oan has used some kind of filter, and this is as good as any. Stick the ea on test and visually go over the trades, you will be amazed.

And you dont need to have huge stop losses on either, as if you trade it like this you will hardly ever lose save for major news events (just have a day off when big news events risk days ie NFP).

Anyone else found similar or totally different results?

Cheers all

shinny
Nobody can be told what The Matrix is. You'll have to see it yourself.
  • #1,191
  • Nov 23, 2008 8:00am Nov 23, 2008 8:00am
Quoting shinny
You get the occassional big hit, but never too bad (11-19% at very very worst).
shinny
The occassional big hit is enough to blow your account, or at least 1/2 it. If it is back to square 1, consider yourself lucky.
  • #1,192
  • Nov 23, 2008 8:01am Nov 23, 2008 8:01am
Quoting Fumiryu
The occassional big hit is enough to blow your account, or at least 1/2 it. If it is back to square 1, consider yourself lucky.
yes, read post above!
Nobody can be told what The Matrix is. You'll have to see it yourself.
  • #1,193
  • Nov 23, 2008 8:07am Nov 23, 2008 8:07am
Quoting shinny
yes, read post above!
Your method seems good but need to try it out. Again, only if you are at the screen and constantly monitoring it, can't be fully automated. For a person with a long hour job like me, working from early morning to late night and then reach home and sleep only for few hours and the cycle repeats, there is no way for me to monitor the trades.
  • #1,194
  • Nov 23, 2008 8:21am Nov 23, 2008 8:21am
Quoting Fumiryu
Your method seems good but need to try it out. Again, only if you are at the screen and constantly monitoring it, can't be fully automated. For a person with a long hour job like me, working from early morning to late night and then reach home and sleep only for few hours and the cycle repeats, there is no way for me to monitor the trades.

Yes, that is the key and the problem for most people.

I manage my own funds and client funds too, so it isnt an issue for me, but you are absolutely correct. I like the fact the ea can take me out of the trade (and put me in) but also like the fact that I can filter trades. If you dont filter them like this, eventually you get wiped out imho.

I monitor 26 currency pairs, plus major indices and some commodities and trade from the 15min tf, so always lots of opportunities to select the best from.

Best of luck
Nobody can be told what The Matrix is. You'll have to see it yourself.
  • #1,195
  • Nov 23, 2008 8:41am Nov 23, 2008 8:41am
Quoting shinny
Yes, that is the key and the problem for most people.
So what would you advise for this group of people like me? Cannot be quitting the job. Trading should be an alternative souce of income until it is huge enough to replace primary source of income.
  • #1,196
  • Nov 23, 2008 9:03am Nov 23, 2008 9:03am
Quoting Fumiryu
So what would you advise for this group of people like me? Cannot be quitting the job. Trading should be an alternative souce of income until it is huge enough to replace primary source of income.
I work a day job too. The 4h tf is really great for me. It allows me to put the trade and then I can just forget about it till the end of the day. I check it when I have free time (like lunch) and when I get home.

Problem is, to find a good trade, you will have to wait a long time. The other problem is, once you are in a trade, you will have to wait a long time before it hits your tp. For example, I took a few trades last week and I have yet to close some of my positions. Right now, those trades are up 15k or about 1500 pips total.
The reason I'm still in the trade?
1)I want to learn everything about this system so I'm letting the trade ride.
2)I have not hit my target profit
since i'm learning, might as well learn everything.

Remember on 4h tf, things are slower. SL and TP are bigger. The key here really is the patience to find a trade that satisfies all the rules. They will definately come.

I can't comment about automated trading. Like oan, I cannot trust my money to a computer. I just don't think I'm smart enough to program a bot that can think like a human. I know there are many people out there who have made money with bots or used them to aid their trades... but that will have to wait till I'm actually more proficient with the basics.

Happy learning
  • #1,197
  • Nov 23, 2008 9:50am Nov 23, 2008 9:50am
Quoting thelws
I work a day job too. The 4h tf is really great for me. It allows me to put the trade and then I can just forget about it till the end of the day. I check it when I have free time (like lunch) and when I get home.

Problem is, to find a good trade, you will have to wait a long time. The other problem is, once you are in a trade, you will have to wait a long time before it hits your tp. For example, I took a few trades last week and I have yet to close some of my positions. Right now, those trades are up 15k or about 1500 pips total.
The reason...
H4 is indeed a very long time. To find trading setup also very long. If the setup appears during the middle of the day when you are not there, you missed it and will be another long wait. Hence I prefer shorter time frame trades. I will not be available to see trades during working time, only time is maybe 30min before I sleep. If there is a shorter time frame method, I prefer small and consistant profits.
  • #1,198
  • Nov 23, 2008 10:11am Nov 23, 2008 10:11am
i will start like this next week in 4H tf.


Second dottet line i put 1% conract,
If continue to solid color line i put 2 X 1% conract.

Now i have 3% conrats, middle line as take profit.

If it go even more i put 4x 1%
But hardly never we will see this in 4 h tf.


So letīs think first order take profit is 150 pips
and it go to solid line and i execute 2x more and
they are 250 pips from center line.
After reach in lets say a week to centerline
i have collect agaist 1% contrach 650 pips from that single curency.

I use Oanda for real traiding mt4 only for charting and in oanda
i can put how many prosent i put or how many units.

I can even put 1/1000 of my account in one trade,no have those
slots limits.
  • #1,199
  • Nov 23, 2008 10:13am Nov 23, 2008 10:13am
Quoting Fumiryu
H4 is indeed a very long time. To find trading setup also very long. If the setup appears during the middle of the day when you are not there, you missed it and will be another long wait. Hence I prefer shorter time frame trades. I will not be available to see trades during working time, only time is maybe 30min before I sleep. If there is a shorter time frame method, I prefer small and consistant profits.
Please take what I'm about to say in a positive way. I assure you I'm not flaming you.

I was somewhat in your shoes 6 months ago (which is when I started trading). The truth is, this battle is in your own mind.

Eg:
1)would you prefer to make money (although you make less money)
2)would you like to hit the top and bottoms with high accuracy every time and make the most possible money for that trade.

If you answered 1, then you must learn to live with it. Just because you missed the best entry in a 4h chart doesn't mean you can't make money or you will have to wait another week for the entry to come. You can still make a trade if you believe the trend will continue. It just means you make less money.

If you must make your trades at the top and bottoms, you have to spend time monitoring it. This is the trade off. You can't have both yet. Well you can if you automate your trade. But letting a robot do your trading when you don't understand it yourself is probably the most risky thing imho.

I have a do or die mentality because I really want to make it successfully in this business. My priorities are different. I'd rather be a waiter for 3 years and be a millionaire for the rest of my life than to be a high paid professional forever. Different people have different goals in life. Find your own trader's journey.

Happy learning.
  • #1,200
  • Nov 23, 2008 10:21am Nov 23, 2008 10:21am
Quoting Fumiryu
H4 is indeed a very long time. To find trading setup also very long. If the setup appears during the middle of the day when you are not there, you missed it and will be another long wait. Hence I prefer shorter time frame trades. I will not be available to see trades during working time, only time is maybe 30min before I sleep. If there is a shorter time frame method, I prefer small and consistant profits.
4 hour time fram is to decide the trend and then you can trade smaller time frames and please demo first to make grasp of the system.
my regards.
oan.
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