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My own developed benkyalate system

  • #2,461
  • Sep 9, 2010 1:12pm Sep 9, 2010 1:12pm
here's a fun low risk trade:

@ 1.0155

TP: 1.0122 (30 pips)

SL: 20 pips

2%

why:
1st level Oan then lower high
200 EMA resistance
Doji bar
Ichimoku cross
Sell zone on timer
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf_1hr_9-9-10.gif Size: 20 KB
  • #2,462
  • Sep 9, 2010 1:37pm Sep 9, 2010 1:37pm
Quoting tandon14
1. Can somebody program the Valuechart to alert if levels 8 to 6 (+/-) are touched with a flag to turn the alert on or off. This will be very helpful to us all. If somebody has already done it, can he post the new version.

2. Beklhayate COG uses 180 bars and order 3. Change it to 123 bars and order 2 and see the difference.

Regards,
Sanjay
i get the 180 bar change, but what changes from 3 to 2--the candle average?
  • #2,463
  • Sep 9, 2010 1:40pm Sep 9, 2010 1:40pm
Quoting jay_x
here's a fun low risk trade:

@ 1.0155

TP: 1.0122 (30 pips)

SL: 20 pips

2%

why:
1st level Oan then lower high
200 EMA resistance
Doji bar
Ichimoku cross
Sell zone on timer
it looks like it might keep working, but on my version it topped out at the dotted line, not the upper lines.
I need to find which of the too many versions linked in this thread is yours.

To save people asking questions about the arrows--it's coincidence if they line up with cog lines. It's SuperSignal i found elsewhere on the forum.
Attached Image
  • #2,464
  • Sep 9, 2010 3:35pm Sep 9, 2010 3:35pm
i guess this is your cog, but what settings need to be changed from these defaults?
what do Order and Ecart mean?
Attached File(s)
File Type: doc oan.doc   44 KB | 580 downloads
  • #2,465
  • Sep 9, 2010 4:38pm Sep 9, 2010 4:38pm
Quoting simpletrades
i get the 180 bar change, but what changes from 3 to 2--the candle average?
Order 3 or 2 is on the center of gravity (cog) indicator.
  • #2,466
  • Sep 9, 2010 5:25pm Sep 9, 2010 5:25pm
Quoting jay_x
Thanks Big Mike. Closed position +100 pips.

I was curious on how you manage your winning trades/profit targets. I noticed on some trades that you don't even set a take profit price. Are you depending on price action and/or indicators to close your positions?

I know it's a bit of an art form.

btw, I got my eyes on EUR/CAD daily. How does it look on your charts?

j-
Hi Jay, I dont trade EURCAD, however your question (and a possibility to make money) tickled my curiosity !
I've attached the 2 charts I have: One is FXDD and the other is Forex.com. As you can see they do not have same broker time, thus the closing/time of candles. So as we can see, on Forex.com there is a possible trade since Timing is good and price touching green zone. But like I say I never trade that pair so I'm not familiar with it's price action. I just know that it is a big action pair on the list with others like GJ, GU, GC, EA, all are in 117 pips-148 pips a day range. Latest low I have is .2949 on price and lower Belkhayate green line at .2890. Price at the moment I write this is .3128. If, and I say if I would trade this I would do the maths: actual price minus green lower green line = 238 pips away. Since it's in the top 5 biggest mover some breathing space is needed so 300 pips away from price would be a mental SL. All is left is to determine your risk. Price action looks like it's going down but trend seems to have shifted upward. That's all I can say since I'm not familiar with it. On the FXDD it's a no trade.
As for your question about exiting trades, here are my rules: 1-Price action, price action and price action. Some pairs I can just say where it's going in a second using no.2 rule. 2- I rely on correlation of pairs and inversly correlated. That is why I'm not too much into exotic pairs. 3- I use Keltner rules: 10sma, high and 10sma, low. (you see the yellow bands on chart). They even help for my entries and they act just like Belkhayate, they are magnets to price ! 4- Past 10ish bars on the Timing indie. If they are mostly red (7+ out of 10) direction is down. I keep my short position. If they reverse to green, I keep my long position). By the way the EURCAD is 7 out of 10 red, so bearish is still in force in my opinion. 5- How big are the bars in the Timing indie. The bigger the better the movement in the direction it shows (green up, red down). 6- Risk I'm willing to take for entries and if bad trade, where should I pull the plug. 7- Nearest low price wise. (or high if looking for short that is for entries and mental SL)
Ok so for what my opinion is worth on a pair I absolutly dont know, I'm gonna take this as a challenge if you dont mind ! I think since price is beginning to be far from Keltner, it says a reverse is expected but price is under, so short is possible too in near future. Timing bars are long and 7 of them are red. Timing and green line are in play. Trend has shifted up. I have no correlation to work with. Final answer: I will monitor it and post my entry if I take it. Long with a mental SL of about 300 pips at 1% risk. Be prepared for large DD as it has already broken the nearest low of .3152. I will take it as a challenge only !!! (no I'm not into politics) !!! Sorry for the long post...

Pip it Up !

BigMike
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcad - daily - fxdd .gif Size: 17 KB
Click to Enlarge Name: eurcad - daily - forexcom .gif Size: 19 KB
  • #2,467
  • Sep 9, 2010 5:27pm Sep 9, 2010 5:27pm
Quoting tandon14
1. Can somebody program the Valuechart to alert if levels 8 to 6 (+/-) are touched with a flag to turn the alert on or off. This will be very helpful to us all. If somebody has already done it, can he post the new version.

2. Beklhayate COG uses 180 bars and order 3. Change it to 123 bars and order 2 and see the difference.

Regards,
Sanjay
I will look into it Tandon, thanks !

BigMike
  • #2,468
  • Sep 9, 2010 5:28pm Sep 9, 2010 5:28pm
Quoting jay_x
Thanks Big Mike. Closed position +100 pips.

I was curious on how you manage your winning trades/profit targets. I noticed on some trades that you don't even set a take profit price. Are you depending on price action and/or indicators to close your positions?

I know it's a bit of an art form.

btw, I got my eyes on EUR/CAD daily. How does it look on your charts?

j-
Forgot to mention, nice pips !

BigMike
  • #2,469
  • Sep 9, 2010 5:32pm Sep 9, 2010 5:32pm
Quoting tandon14
Order 3 or 2 is on the center of gravity (cog) indicator.
ok thanks. on oan's early one with curvy lines and no arrows or thumbs which i had loaded, that isnt an input field, but the later one has a default at 0 which is my attachment posted just above .
  • #2,470
  • Sep 10, 2010 6:49am Sep 10, 2010 6:49am
Quoting Big Mike
Hi Jay, I dont trade EURCAD, however your question (and a possibility to make money) tickled my curiosity !
I've attached the 2 charts I have: One is FXDD and the other is Forex.com. As you can see they do not have same broker time, thus the closing/time of candles. So as we can see, on Forex.com there is a possible trade since Timing is good and price touching green zone. But like I say I never trade that pair so I'm not familiar with it's price action. I just know that it is a big action pair on the list with others like GJ, GU, GC, EA, all...
Hello Mike,
Thanks for your detailed explanation, I see you've done your homework

Also, do you scale out your position , or do you close your entire position at once with your exits?

Thanks,
Bas
  • #2,471
  • Sep 10, 2010 7:44am Sep 10, 2010 7:44am
Quoting bassd
Hello Mike,
Thanks for your detailed explanation, I see you've done your homework

Also, do you scale out your position , or do you close your entire position at once with your exits?

Thanks,
Bas
I usually close the entire position. The reason is simple, I dont like to expose myself on too many trades at the same time for 2 reasons. 1- On higher TF, DD is part of the game and if trades develop the opposite way, I like to have options and need room to play safe with. 2- Often opportunities present themselves in more than 1 trade at a time due to many factors like news and correlation. So if I enter 1 or 2 trades with large DD, then on 4H, 2 or 3 more setups show up, it does not take long before you are in the market at 8-12% risk total. Especially if you have opportunities to re-enter a trade because of retraces or DD, etc...
Like this week, only 1 trade closed for +1.4%. It takes a lot of discipline to keep your fingers off that mouse !

Pip it Up !

BigMike
  • #2,472
  • Sep 10, 2010 8:08am Sep 10, 2010 8:08am
Quoting Big Mike
I usually close the entire position. The reason is simple, I dont like to expose myself on too many trades at the same time for 2 reasons. 1- On higher TF, DD is part of the game and if trades develop the opposite way, I like to have options and need room to play safe with. 2- Often opportunities present themselves in more than 1 trade at a time due to many factors like news and correlation. So if I enter 1 or 2 trades with large DD, then on 4H, 2 or 3 more setups show up, it does not take long before you are in the market at 8-12% risk total. Especially...
NZDJPY my 4 hr that i use to watch retracements off trendlines signaled short, but my 4 hr and 1 hr cog isnt at either of my red top areas dashed or solid lines yet so i'll watch those for the final short signal if i'm around.
  • #2,473
  • Sep 10, 2010 12:48pm Sep 10, 2010 12:48pm
great posts big mike! very insightful.

j-
  • #2,474
  • Edited 7:31am Sep 11, 2010 7:24am | Edited 7:31am
Quoting jay_x
great posts big mike! very insightful.

j-
Thanks Jay. Your EURCAD question caught my interest on that beast ! If we had not been friday I would have taken that trade, good setup. My other concern of staying on the sidelines was which psychological resistance level would hold up: the .3100 or the big .3000. Other than that you got me placing that pair on the radar even if I have never traded it ! Cog works on anything called a chart !!! Let see what sunday open has to offer. Sharing trade opportunities is what certain threads should be for. Education is mandatory, but after the basics are learned, sharing "money" is the most gratifying thing to do after making it ! (I switched from politician to preacher) !!!

Pip it Up !

BigMike
  • #2,475
  • Sep 12, 2010 11:43pm Sep 12, 2010 11:43pm
Big Mike.. I took the long on EUR/CAD on Thursday night for a quick 70 pips on Friday and closed it out.

Now I'm torn because 4hr looks good for short but daily still looking good for long. I guess I'll just wait to see what the next 4hr candle close will look like.

How are you reading it?

j-
  • #2,476
  • Sep 13, 2010 12:18am Sep 13, 2010 12:18am
Quoting aserbfx
possible setup on eur/cad h4. timing was already below -8. will enter with first position and average if it's going down.
averaged about every 90 pips and closed all four positions with a nice profit.
on to the next!
meine augen sind die sterne
  • #2,477
  • Sep 13, 2010 6:30am Sep 13, 2010 6:30am
Quoting jay_x
Big Mike.. I took the long on EUR/CAD on Thursday night for a quick 70 pips on Friday and closed it out.

Now I'm torn because 4hr looks good for short but daily still looking good for long. I guess I'll just wait to see what the next 4hr candle close will look like.

How are you reading it?

j-
Hi Jay, nice trade ! I see the same as you, short 4H and still not sure on Daily.
Nice pips aser.
To all, please post entry prices etc... when taking the trades.

BigMike
  • #2,478
  • Sep 13, 2010 9:38am Sep 13, 2010 9:38am
Hi Jay, I'm trying EURCAD Short, 4H, 1%(200 pips mental SL) at .3224, no SL, no TP at the moment. Next big psycho resistance is at .3300 so we have some breathing space.
The reason I took it short on the 4H is that it is bouncing on R3 at .3231 and .3200 seem to be a hard psyco number to break. As I said earlier, I never traded that pair so this is a test, not a trade call, after taking some time to study price action over the weekend. Also, that is why I did not take the Daily long yet as it is not as strong on the daily chart.

Let's see how this develops.

Pip it Up !

BigMike
  • #2,479
  • Sep 13, 2010 10:01am Sep 13, 2010 10:01am
Hi all,
I know I should not post trades other than Belkhayate trades here but, I will and if not appreciated by others, if it is removed, I'll undersatnd.
Ok we have a nice Gap trade. Short Aussie at .9348, SL .9420, TP .9265, risk 2%. Gap trading is taking a trade on Sunday or Monday by considering a pair on 1H that opens on Sunday with a gap from last Friday. We had a close on Friday at .9265 and an open at .9295 and the price moved away so we have a good chance of retracement as it usually do on gentle trending pairs. We have a big resistance at .9280 from last nov. and april.
Just a little trade while waiting for the biggies. Don't be fooled, this is a powerfull strategy !

Pip it Up !

Big Mike
  • #2,480
  • Sep 13, 2010 10:51am Sep 13, 2010 10:51am
Hi Mike! i think usdchf is good long . with Belkhayate COG.


Quoting Big Mike
Hi all,


I know I should not post trades other than Belkhayate trades here but, I will and if not appreciated by others, if it is removed, I'll undersatnd.
Ok we have a nice Gap trade. Short Aussie at .9348, SL .9420, TP .9265, risk 2%. Gap trading is taking a trade on Sunday or Monday by considering a pair on 1H that opens on Sunday with a gap from last Friday. We had a close on Friday at .9265 and an open at .9295 and the price moved away so we have a good chance of retracement as it usually do on gentle trending pairs. We have a big resistance...
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