My own developed benkyalate system

Hello Geobull,

Many thanks geobull !

Trade well,
eTrader,

you are welcome Etrade.
Can you post your chart how it looks like.

Thanks

I should have updated earlier, but since I trade COG on 4h and Daily, there are long boring periods interupted by a few exciting entries, trade management and exits.

Ok, first the EURCAD trade is in the crapper: -384 pips on first position and -276 on the second. I still want to swet it out and try to understand it's price action, correlation if any (???)

The CAD trade is going good, +81 pips at the momen. I am putting a SL at BE and a will let it run. I will watch closely as a hard resistance in the .0220/00 is in play (recent lows).

I took a long trade on Cable 4H @ .5545, but that is after fact, so I wont talk about it.

I'm entering a position on GBPJPY, long, 4H, 2% risk, @ 132.95. (see chart). I have a mental SL at 131.50 under S2 because the recent low is way too far to handle if BOJ does not interfear again. Yen is still way too strong to take any chances. I know I don't use fundamentals but when the news is loud, I tend to check the ripple effects until a new star takes the stage.

Pip it UP !

BigMike

hi mike,

i'm with you on pound yen. long @ 132.00 no SL. TP 100 pips.

also long on usd/jpy @ 84.40. SL 35 pips. TP 50 pips.

even decent cad news couldn't help eur/cad. it'll turn eventually.. the euro can't be that strong.

gotta watch out for US jobless claim numbers tomorrow (for usd/jpy position).

j-

Hi Jay, I'm with you !

BigMike

update:

SL to BE on usd/jpy and gbp/jpy.

new AUD/USD trade. short @ .9500

TP: .9355
SL: .9550
1 %

using my horizontal price action strategy on this one. i know it shows no trade on COG.

Ok, weekly update.

Closed CAD for +55 pips. It' Friday and keeping what it gave me. I should have closed at S3 but this is not a should and would thread...

Closed a cable trade for +240 pips but I think this was an after fact entry and did not log it in here. Closed because it's friday, it has reached R3 almost and I got my money's worth !

GBPJPY still in play and looking good at +60 ish pips, since it's weekend time and the signal is still strong, I will put a SL at 133.03 just in case. This is at BE plus a few pips.

EURCAD test is supercrapping, one position is at -600 and the other at -500 ish pips and will monitor it to learn more about that pair... There is a way out but I'll be patient ! Will let you know how I use my gangbang survival kit !!! (this is a good MM and emotion test by the way)

Ending the week at + 8,65%.

Pip it Up !

BigMike

@ .9596, TP 9525, SL none, 2 %

you can wait for the next candle(s) to confirm a lower high for reassurance but .96 has shown to be a good resistance.

this is obama template so 1hr TF is acceptable.

mike.. i'm eager to learn about your survival skills.. especially since i'm on the same losing trade! =) for me, i've been scalping the heck out of eur/cad @ 1m and 5m tf. so far i've made back about half of the losing position. probably not the greatest strategy but i somewhat enjoy the challenge.

have a great weekend! go stanford!

j-

hello etrader! do you use skype? pls give me your skype name via PM and then talk about COG and goldband indicator.

Thanks Geobull

Hi Jay,
By survival kit as you figured it out, I mean many possibilities, here are a few examples I used quite often and succeeded: a- if it's a big week with many entries, I then dilute my losing positions with the other big winners to stay in profit. b- I wait till a price plateau is reached and wait for either a reversal or a big dip. Just like right now, EURCAD is in a 110 pips range (.3750 and 3860) since last Tuesday or if you prefer 20 bars on the 4H. (check the chart with red and yellow lines. I will wait for better confirmations and breakout.) However it is close to the first green line for more up movement... Then I take the decision to take a larger position either way to ease off the pain. c- I will hedge it if breakout is going upward with COG full agreement. d- If NFP week like we are, I'll wait to see if the news helps me, if not well I'll just eat my socks and move on.
Each trade is different and creativity is essential instead of whinning on DD, might as well use it as an expensive indicator for trend !!!
It is still a fun experience to learn more about this pair !
Even if I close right now i am still not loosing a lot since I went 1% with a mental SL of 300 pips... now it's at -600 pips and -500 on second position, so roughly 4%. That is what I call money management !!!

GBPJPY closed at SL for +7 pips. The call was good but I did a mistake of not checking my position on Sunday open to give it more space to breath and the SL was hit...This was a SL in case ocer the weekend we had a big move against us. Too bad bcause it is moving in our direction. I'm considering reentering it long but waiting for a nice dive... will see.

CAD short closed for +55 pips...don't remember if I logged this one...

Pip it Up !

BigMike

good to see that this thread still active.

i didn't post a lot in the last time, just because i didn't find any good setups- neither on the H4 nor on the daily...

Hi

Big Mike, do you have the timing benkyalate indi?

1. The value chart indicator is hogging my system. Looking at its code, it is using a sleep(1000) thing. If we remove will it cause any issues. Anyone ?

2. If we can program when the valuechart reaches 6/8 (+ or -) reading, and provide signals on the price charts that would be an awesome visual.

Sanjay

Hi aser, same here, no setups this week yet

BigMike

Yes, it comes with the COG

Hi all,
is there any version ABHAFXS - OAN with alert?
Thanks in advance.

mike.. what do you think about eur/cad setup to short on the daily chart? might take out some of the sting from current losing positions.

j-

Hi jay, since it's a test of this pair, I'm not incline to call anyting at the moment since it's price action has me suprised every day. The problem is that I don't see any ceiling to it... I'm on the sidelines at the moment since no opportunities yet this week so I guess NFP will either crush it or help it reduce the pain !

Pip it Up !

BigMike

Hi Jay,

I'm going in GBPUSD long, risk 3%, 4h chart, no SL and no TP at the moment. Entry at .5717. This pair needs pips to play with. S2 and S3 are in play at .5701 and .5641 to back us up. I'm taking a 1% extra position to compensate the DD on EURCAD trade. This is part of the gangbang survival technique I use when I have a messy trade. Would like to see more setups so I can recuperate some negative positions. I always stay in the 1-3% for 4h trades and 1-2% on Daylies.
I like the correction drop in the green zone, this could bring in some Asian action tonight. By the way NFP is next Friday, my miss on last post.

Pip it Up !

BigMike

haha.. i took the same trades with pretty much the same conditions.

good stuff!

j-