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My own developed benkyalate system

  • #2,361
  • Aug 23, 2010 12:03pm Aug 23, 2010 12:03pm
Quoting jay_x
i use the one with the straight lines (purple lines). once it touches a purple line, i look for price action to enter.

i use ichimoku and a couple of other indicators as confirmation but price action is very reliable on its own.

i caught 90% of the usd/jpy move today based on this strategy.

j-

What is your timeframe, jay_x?
  • #2,362
  • Edited 2:01pm Aug 23, 2010 1:57pm | Edited 2:01pm
Quoting wowzers
Hi mike, didnt mean to imply that you were trying to get us to buy them. Just wondering what 2 belkhayate indis are you talking about since he started selling 2 newer ones in the last year....Are you talking about the ones that are already in this thread?
Hi Wozers, no damage done my friend !
I have no idea what version it is. The latest update, I'm not sure if it's 6 or 8 months ago.
I'm trying to upload a sample chart so you can see what I work with.
By the way the check mark it's just a visual aid for the pairs I'm in a trade.

Hope this help's.

BigMike
Attached Image
  • #2,363
  • Aug 23, 2010 4:43pm Aug 23, 2010 4:43pm
somebody know where is oanfx? I been locking for him for months.
  • #2,364
  • Aug 24, 2010 12:41am Aug 24, 2010 12:41am
i use 1hr and 4 hr mainly. when i get impatient and bored of waiting, i sometimes go down to 15m or even 5 to scalp. i've attached the version i use.

j-
Attached File(s)
File Type: mq4 [V03]ABHAFXS-OAN.mq4   7 KB | 1,123 downloads
  • #2,365
  • Aug 24, 2010 12:54am Aug 24, 2010 12:54am
setup image attached
Attached Image
  • #2,366
  • Aug 25, 2010 4:58pm Aug 25, 2010 4:58pm
I still like this system...good in all timeframes

You have entry and a clean exit

All the best

Xard777
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY 30m.png Size: 77 KB
  • #2,367
  • Aug 25, 2010 5:08pm Aug 25, 2010 5:08pm
Quoting xard777
I still like this system...good in all timeframes

You have entry and a clean exit

All the best

Xard777
Hey hard i think i saw your nickname long time ago on TSD forum is that you ?
You are very positive trader and you want to help others you have big plus from me

About system i think it is one of the best with indi but for my trading i trade just pure price action with my candle formation anyway good work




Petar
"Buy on fear, sell on greed !!!
  • #2,368
  • Aug 26, 2010 8:01am Aug 26, 2010 8:01am
Quoting xard777
I still like this system...good in all timeframes

You have entry and a clean exit

All the best

Xard777


Hi Xard777,

What are those 2 lines in your chart ? Some kind of moving average?

Also was curious which belkhayate-version you use


Thanks,
Bas
  • #2,369
  • Aug 26, 2010 11:26am Aug 26, 2010 11:26am
Quoting Big Mike
Hi Wozers, no damage done my friend !
I have no idea what version it is. The latest update, I'm not sure if it's 6 or 8 months ago.
I'm trying to upload a sample chart so you can see what I work with.
By the way the check mark it's just a visual aid for the pairs I'm in a trade.

Hope this help's.

BigMike
Hi Mike, thanks for your info so far. Your posts have been really helpful as I traded an older system of Oan's sometime but due to wanting more action I left it behind to trade on smaller timeframes. Can you post those indis? I tried looking thru the attachments but theres so many indis it kept my head spinning lol.

K, thank you my friend
  • #2,370
  • Aug 26, 2010 2:36pm Aug 26, 2010 2:36pm
Quoting bassd
Hi Xard777,

What are those 2 lines in your chart ? Some kind of moving average?

Also was curious which belkhayate-version you use


Thanks,
Bas
Yes, they are HMA lines....

All the best

Xard777
Attached File(s)
File Type: ex4 #4X 2010 XARD HMA.ex4   5 KB | 1,199 downloads
File Type: ex4 #4X 2010 XARD HMA SHIFT.ex4   5 KB | 1,259 downloads
  • #2,371
  • Aug 27, 2010 6:38am Aug 27, 2010 6:38am
Quoting wowzers
Hi Mike, thanks for your info so far. Your posts have been really helpful as I traded an older system of Oan's sometime but due to wanting more action I left it behind to trade on smaller timeframes. Can you post those indis? I tried looking thru the attachments but theres so many indis it kept my head spinning lol.

K, thank you my friend
Hi Wowzers,
From the chart I posted you can see which ones they are.
It's their latest version.
They also have GoldBands that is Bollinger Bands with Centre de Gravite and another indie in it with support and resistance zones.
I don't have GoldBands though.
Since these are proprietary indies, I would not want to be unlawful regarding the author... Anyway they are only 99euro or something.
6,56% this week. I can post my trades if the thread author does not mind ? I dont want to interfere.
Hope this helps...

BigMike
  • #2,372
  • Aug 27, 2010 6:55am Aug 27, 2010 6:55am
Quoting Big Mike
Hi Wowzers,
From the chart I posted you can see which ones they are.
It's their latest version.
They also have GoldBands that is Bollinger Bands with Centre de Gravite and another indie in it with support and resistance zones.
I don't have GoldBands though.
Since these are proprietary indies, I would not want to be unlawful regarding the author... Anyway they are only 99euro or something.
6,56% this week. I can post my trades if the thread author does not mind ? I dont want to interfere.
Hope this helps...

BigMike
the thread author (oan) has left long time ago.
and i am really interested in your charts and setup.
thanks in advance
meine augen sind die sterne
  • #2,373
  • Aug 27, 2010 7:23pm Aug 27, 2010 7:23pm
Quoting RandyG67
I see. So past results shown with charts must be taken with a grain of salt here. However, forward/live testing performance statistics will stand up at face value....good or bad.

Of course, I guess this is the successful recipe for any and all systems (the forward-test performance).

Thanks Guys,
Randy
it shouldnt matter for back screenshots if it repainted. price will still hit red and green lines somewhere else--big deal, you still get to see the reaction of the subsequent candles, just not an actual trade. For overall running profits, you cant use it, but for picking out learning situations it is relevant.
  • #2,374
  • Aug 27, 2010 8:02pm Aug 27, 2010 8:02pm
Quoting jay_x
i use 1hr and 4 hr mainly. when i get impatient and bored of waiting, i sometimes go down to 15m or even 5 to scalp. i've attached the version i use.

j-
i understand the arrows up/down as limit order spots but what do the thumbs mean?
thanks
  • #2,375
  • Edited 12:01pm Aug 28, 2010 11:51am | Edited 12:01pm
Quoting aserbfx
the thread author (oan) has left long time ago.
and i am really interested in your charts and setup.
thanks in advance
Thanks aserbfx for your update about the author.
Ok so a little correction, I closed the Kiwi Daily trade for 74 pips because market was stagnating a bit and it's Friday.
This is discretional to the experienced trader's eyes.
I still think Kiwi will make a move up, but as a consciencious/cautious trader as I am, I like to keep the marbles instead of praying for more. If there is a shift in the movement, I might re-enter if both conditions are met: Dynamic and static.
On weekdays I would have closed partial and put a BE SL, but more opportunities will show up.
So I finished the week with my "usual" 9.5%.
A few of you have asked me how I trade with such consistency. Ahhhh consistency, the magic word for a trader. Its so simple that many of you will not believe me and it's ok, I respect the trader that needs 45 indicators and a cartoon looking screen that makes Walt Disney jealous and complicated rules for entries and exits. But I don't care about that, price action is my friend. He will tell me everything I need to know.
Here we go:
I trade 11 pairs + Gold. (I'll get into the details later).
Here are my setups and I will try to give you all the "ingredients" to make you not a good trader but great trader.
Yes I have an ego bigger that this thread but it fits pretty well in my beautiful 6',2'', 320 pounds body !!! If you dont find this amusing and if I'm not serious enough for you guys, well trading is so boring at times, I need to laugh at myself since nobody else does it !!! (...and I think it's because my heavyweight scares them) !!!!!!

Some people asked me how can you have Belkhayate on so many pairs and keep the data feed to an acceptable speed ?
Very simple I use 2 brokers, one for the daily charts and one for the 4h charts. I have 4 monitors. 3 for the charts and one for the rest, like reading this post, event calendar, emails, chat, etc...
I do exactly the only two rules of Belkhayate says in his video (yes I speak french):
(Trade on 4H and Daily Charts ONLY).
1- Price in the red or green zone
2- Timing in the extremes +8 or -8

That's it, that's all. This post could be a thread by itself.
Seriously, I will post my trades here, entries and exits so you will know what, when, why I do it.
I do trade on smaller TF but with different rules, setups and indies... We'll get to that in the near future.

Pip it Up !

BigMike
  • #2,376
  • Aug 28, 2010 5:45pm Aug 28, 2010 5:45pm
Quoting Big Mike
Thanks aserbfx for your update about the author.
Ok so a little correction, I closed the Kiwi Daily trade for 74 pips because market was stagnating a bit and it's Friday.
This is discretional to the experienced trader's eyes.
I still think Kiwi will make a move up, but as a consciencious/cautious trader as I am, I like to keep the marbles instead of praying for more. If there is a shift in the movement, I might re-enter if both conditions are met: Dynamic and static.
On weekdays I would have closed partial and put a BE SL, but more opportunities...
Thanks for your input Mike. Appreciate it!
  • #2,377
  • Edited 11:23am Aug 29, 2010 11:21am | Edited 11:23am
Quoting bassd
Thanks for your input Mike. Appreciate it!
Welcome bassd,

Ok a few more details as we go along:

Since I use 2 different brokers for the indies I like to get some confirmation on both. I check on Alpari and forex.com (MT4).
However, Alpari stays at Daily because it is so slow.
With forex.com I made a 4H and Daily profile and I flip them so it is faster.
And third platform is for trading only. So my broker/ECN does not know my strategy !!!

By the way we might have an aussie trade short on Sunday opening.
I did not take the trade Friday because of weekend so we'll wait and see how it develops.

Pip it Up !

BigMike
  • #2,378
  • Aug 29, 2010 2:55pm Aug 29, 2010 2:55pm
Quoting Big Mike
...
By the way we might have an aussie trade short on Sunday opening.
I did not take the trade Friday because of weekend so we'll wait and see how it develops.
...
chart attached.
do you martingale your positions?
Attached Image (click to enlarge)
Click to Enlarge Name: au4.gif Size: 25 KB
meine augen sind die sterne
  • #2,379
  • Aug 30, 2010 3:21am Aug 30, 2010 3:21am
Quoting aserbfx
chart attached.
do you martingale your positions?
Hi aserbfx,
Thanks for posting your chart, it is dead on ! (in last post I forgot to mention the 4H chart).

By Martingale if you mean add a position when adequate setups show up again due to a previous correction in price action and you are already in a trade with that specific pair, yes I may add a position.
I usually max a trade on a pair at 3% on 4H.
So if I went in a trade on 4H at 2%, I will add an extra 1% for a total of 3%. (on daily my maximum is 2% total).
However if you really apply the definition of Martingale (doubling your next trade because of a previous loss), no I don't.
However, due to the very high probabilities of winning with this method, a Martingale strategy could be considered as long as you stop doubling when your risk ratio is within your stress tolerance and mostly in acceptable MM (under 5% total per pair in my humble opinion), which I think is very high considering that we are trading on high TF and DD is sometimes pure ugly. (200-300 pips on highly volatile pairs).
Hope this helps.
This week looks like vacation week.
NFP coming up and usually erratic price action.
Let's see what our friend "the price" has to say !

Pip it Up !

BigMike
  • #2,380
  • Aug 30, 2010 5:58am Aug 30, 2010 5:58am
Quoting Big Mike
Hi aserbfx,
Thanks for posting your chart, it is dead on ! (in last post I forgot to mention the 4H chart).

By Martingale if you mean add a position when adequate setups show up again due to a previous correction in price action and you are already in a trade with that specific pair, yes I may add a position.
I usually max a trade on a pair at 3% on 4H.
So if I went in a trade on 4H at 2%, I will add an extra 1% for a total of 3%. (on daily my maximum is 2% total).
However if you really apply the definition of Martingale (doubling your next trade...
i am aware that the "repainting-problem" is smaller on the higher tf like h4 or daily. how do you deal with it? i think that averaging one's positions could be a method.
hope to see some of your charts in the future.
meine augen sind die sterne
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