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My own developed benkyalate system

  • #2,141
  • Apr 1, 2009 2:48pm Apr 1, 2009 2:48pm
Quoting ashur123
Hey Chamane, that is exactly what I'm doing too. I'm using the belkhayate for 4hr and Orabi for 5 min. Also about the extra indicators in the orabi template, I think the candle average has to be above 0.81 to buy and below -0.81 to sell, i just trade when the price goes into the buy or sell zone and hits one of the fibo lines. This week however i havent traded. I usually tend to stay away from nfp week.

Ashur
Thanks for answering. I think this is the system I will be using live. But I am not 100% about it right now, too many questions not answered yet. I liked your version on Strategy Revealed, but got busted on a couple of occasions during some news. But had regular wins in between. My stop losses were too far away.

Why are you trying so many setups? I thought your system with sweetspots was efficient. Are you finding Fibs more accurate? To tell you the truth, I got very mixed up and greatly discouraged when Oan was shoveling templates all over the place in his thread. We would all benefit of only one or two reliable systems.

Regards.
Chamane
  • #2,142
  • Apr 2, 2009 1:21am Apr 2, 2009 1:21am
Chamane-

I think its a good thing we have so many set ups/tpls... there are so many options to us and opportunities. I agree, it can be frustrating, but look at it from the good ole "Greed" side of things.... more opportunities to make money.


First thing is first, and start testing one of the templates, on the time frame you prefer.


I can tell you this: any COG other than Paulus's on M1, is gonna be suicide. M1 is too rapid and random, and needs a fast moving COG like Paulus's.
  • #2,143
  • Apr 2, 2009 1:51am Apr 2, 2009 1:51am
i was wondering those who is using this system for a long time can tell us,

1. Usually how many trades per week using 4H TF ?

2. Nobody can watch the market 24 hours. How do u make trades when it hit the line and u are sleeping ?

3. What's ur average TP level for 4H TF ? I know it's the middle line. But usually is how many pips ?
  • #2,144
  • Edited 2:17am Apr 2, 2009 1:55am | Edited 2:17am
is it possible for anyone here to write an EA that will open trade when price hit the 2nd red/green line and timing indicator is at 2nd level ? IMO, EA will help since we have to monitor the market 24 hours for the price to reach certain level.
  • #2,145
  • Apr 2, 2009 2:57am Apr 2, 2009 2:57am
i hope everyone still remember the day when EURCHF run over 550 pips within an hour due to chf central bank intervention.

This is what can happen to the COG.
Attached Image
  • #2,146
  • Apr 2, 2009 7:39am Apr 2, 2009 7:39am
Quoting noskool319
Chamane-

I think its a good thing we have so many set ups/tpls... there are so many options to us and opportunities. I agree, it can be frustrating, but look at it from the good ole "Greed" side of things.... more opportunities to make money.


First thing is first, and start testing one of the templates, on the time frame you prefer.


I can tell you this: any COG other than Paulus's on M1, is gonna be suicide. M1 is too rapid and random, and needs a fast moving COG like Paulus's.
Noskool,

You are probably right, but at some times it looks like the system is not ready to be used and people are trying all sorts of settings to see what happens. This one is hard to follow because COG is repainting so you have to be there live to see how it behaves. Anyway, I still have great confidence in it and will stick to my to 2 templates for now.

Chamane
  • #2,147
  • Apr 2, 2009 7:43am Apr 2, 2009 7:43am
etrader,

I enclosed a picture showing COG lines with a high angle. I would not think it is too high, but I am having doubts about it. The Timing indicator is showing overbought so I am waiting the Stochastic to confirm a downwards move at the close of candle. I would also use a sell stop order at the low of the last candle. I wonder when is the best moment to enter.

Chamane
Attached Image (click to enlarge)
Click to Enlarge Name: example.gif Size: 29 KB
  • #2,148
  • Apr 2, 2009 8:03am Apr 2, 2009 8:03am
Here is another case. The COG lines are just starting to go down so barely any slope. But price is touching the red line and timing indy is overbought, Stochastic signaling downwards move. I placed a pending sell order with stop level at the dotted line and profit at COG center line. Risk=85 pips and profit=130 pips.

Chamane
Attached Image (click to enlarge)
Click to Enlarge Name: example2.gif Size: 30 KB
  • #2,149
  • Apr 2, 2009 8:38am Apr 2, 2009 8:38am
Quoting chamane
Here is another case. The COG lines are just starting to go down so barely any slope. But price is touching the red line and timing indy is overbought, Stochastic signaling downwards move. I placed a pending sell order with stop level at the dotted line and profit at COG center line. Risk=85 pips and profit=130 pips.

Chamane
Hey Chamane
This pair (aud/chf) is still on it way up.............its not yet time to sell. I am also waiting to sell the EUR/CHF but there is still not a clear sell signal on it
  • #2,150
  • Apr 2, 2009 8:42am Apr 2, 2009 8:42am
Quoting Rucks
Hey Chamane
This pair (aud/chf) is still on it way up.............its not yet time to sell. I am also waiting to sell the EUR/CHF but there is still not a clear sell signal on it
I just bought the gbp/usd up +21 pips ........SL 50pips TP 75-100 pis
  • #2,151
  • Apr 2, 2009 8:50am Apr 2, 2009 8:50am
Quoting Rucks
Hey Chamane
This pair (aud/chf) is still on it way up.............its not yet time to sell. I am also waiting to sell the EUR/CHF but there is still not a clear sell signal on it
I would say price is about to reverse in both cases. It looks like it doesn't go past dotted red or green lines very often for those pairs.

Chamane
  • #2,152
  • Apr 2, 2009 8:55am Apr 2, 2009 8:55am
Quoting Rucks
I just bought the gbp/usd up +21 pips ........SL 50pips TP 75-100 pis
Are you bying or selling? This is what I have for GBP/USD 4hr. I just made +26 pips buying it, but on 5min chart.

Chamane
Attached Image (click to enlarge)
Click to Enlarge Name: example3.gif Size: 30 KB
  • #2,153
  • Apr 2, 2009 9:06am Apr 2, 2009 9:06am
Quoting chamane
Are you bying or selling? This is what I have for GBP/USD 4hr. I just made +26 pips buying it, but on 5min chart.

Chamane
my bad i bought the gbp/usd and i am still in....................The aud/chf and eur/chf i am thinking that they are getting ready to turn but not yet
  • #2,154
  • Apr 2, 2009 9:24am Apr 2, 2009 9:24am
Quoting noskool319
so etrader-

based on what you show, it seems to me there a few inconsistencies or something i dont understand.

you said enter between the green solid lines, and in the above picture, the price is already out side those lines, and outside the entire cog itself for that matter. which brings me to my next point, you said set your SL to outside the cog green lines, which again, is where the price is currently at in the above pic.

and a couple questions:

are you SL and TP levels static (set them when you enter a trade and do not alter them) or...
Long Trade GBPUSD H4
Entry: 1.41815
Initial static target profit: 1.46850
Close at blue dynamic center line (COG): 1.44211

The initial target proft (TP) was set at the center line at 1.46850, but was adjusted during the trade.

The target profit was a dynamic target level, so the trade was closed when the price was at the dynamic blue center line in real time.

The stoploss (SL) was set at the time of entry with a programmable script (Quick Buy) 100 pips below the low of the candle.

A SL-TP_move by-Mouse script was used to adjust the proper SL level according to the H4 Time Frame.

A Quick CloseAll script was used to close the trade and all scripts.

eTrader
  • #2,155
  • Apr 2, 2009 9:44am Apr 2, 2009 9:44am
Quoting chamane
etrader,

Many thanks for your answers and patience... This technique is not that simple, but I want to give it a chance since it is used to manage huge funds by Belkhayate himself (although I know people who have trusted blindly financial gods who are facing the judge in court nowadays...). Anyway.

What about a high slope e.g. down with the timing indicator in the overbought area? And what would be a slope too high (over 45°)? To me, there has to be some guide otherwise I would be in doubt all the time.

Thanks

Chamane
Chamane,

Negative slope wit high angle (down):
The RSI, Stochastic and the timing indicator will not be in the overbought area , but in the oversold area.

eTrader
  • #2,156
  • Apr 2, 2009 10:20am Apr 2, 2009 10:20am
Quoting eTrader
Chamane,

Negative slope wit high angle (down):
The RSI, Stochastic and the timing indicator will not be in the overbought area , but in the oversold area.

eTrader
Are you saying that if stoch or RSI are in overbought area with down COG lines, then the angle is not too steep (even if it looks like it) to enter a trade?

Thanks

Chamane
  • #2,157
  • Apr 2, 2009 10:43am Apr 2, 2009 10:43am
Here is my other setup for 5 min. The slope was starting to get high, but still tradable as other indys showed signals. I am using Orabi template and added Belkhayate's Timing wich I find simple to understand. I don't really know how to interpret the other indicators. If anyone can help, it would be appreciated. I can figure something, but won't rely on it.

COG lines were up, price touching Fib, Timing touching oversold line (-8 on Timing). I almost reached my profit line, but then price backed up a little. I closed the trade because volume was slowing down. Right now, it is 11:35 ET and London session is about to close.

I made 3 trades and cashed in +82 pips this morning all on 5 min charts (demo). My objective is to reach between 75 and 100 pips per day. I can live on that. The 4 hr chart orders are still pending.

Chamane
Attached Image
  • #2,158
  • Apr 2, 2009 10:20pm Apr 2, 2009 10:20pm
Quoting chamane
Here is my other setup for 5 min. The slope was starting to get high, but still tradable as other indys showed signals. I am using Orabi template and added Belkhayate's Timing wich I find simple to understand. I don't really know how to interpret the other indicators. If anyone can help, it would be appreciated. I can figure something, but won't rely on it.

COG lines were up, price touching Fib, Timing touching oversold line (-8 on Timing). I almost reached my profit line, but then price backed up a little. I closed the trade because volume was...
I think now is a good time to short the eur and aud/chf .........all the best
  • #2,159
  • Apr 6, 2009 2:30pm Apr 6, 2009 2:30pm
Value Charts the Dynamic Indicator
David Stendhal

David Stendhal describes in his book "Dynamic Trading Indicator" a new way to represent price-levels. The indicator permits a very good visualisation of cycles and "overbought & oversold" zones.

David Stendahl, a trading principal with Chart Research, was interviewed by TradeStation Technologies Inc. The discussion focused on the Value Chart indicator featured in the book Dynamic Trading Indicator: Winning with Value Charts and Price Action Profile co-written by David Stendahl.

Traditional bar charts may not provide the information traders need to make appropriate trading decisions. Value Charts represent a market analysis tool that allow traders to trade stocks, bonds and futures with additional poise and confidence. It's a different view of the markets because they were developed to display the valuation of the market.

The potential benefits of using value charts:
Buy into markets at undervalued, or oversold, price levels.
Avoid buying into markets at overvalued, or overbought, price levels.
Allow traders to identify fair value price levels and confidently transact business at these price levels.

Confidently transact business:
Value Charts, and what I'll later explain as Price Action Profile, help keep the two emotions in check that have the potential to destroy the efforts of any trader -- greed and fear. These market analysis techniques allow traders to enforce discipline and avoid being taken by markets at short-term peaks or being scared out of the markets at short-term bottoms.

Read the Interview

The indicator from El Mostafa Belkhayate is based upon this "Value Chart".

eTrader
  • #2,160
  • Apr 6, 2009 7:44pm Apr 6, 2009 7:44pm
Quoting eTrader
Value Charts the Dynamic Indicator
David Stendhal

David Stendhal describes in his book "Dynamic Trading Indicator" a new way to represent price-levels. The indicator permits a very good visualisation of cycles and "overbought & oversold" zones.

...

The indicator from El Mostafa Belkhayate is based upon this "Value Chart".

eTrader
eTrader, a sincere question...how did you ascertain, for a fact, that the Belkhayate Timer is based on the 'Value Chart' any more than the Oan System timer, or Mahmoud Amir, or other. I assume you have good reason beyond just appearances. THere is something of an appearance in all the above, and perhaps more than that.

Thanks much for the link to Interivew, BTW! Very interesting.

Regards,

Ron
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