My own developed benkyalate system | Page 130 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What I have learned trading & How I developed my system 6 replies

Developed This System, Glitches 0 replies

Did I just create my own very simple system? 25 replies

Indicators & EA's vs own system 8 replies

Creating Your Own Trading System : A View From the Outside In 0 replies

Attachments: My own developed benkyalate system
Exit Attachments

My own developed benkyalate system

  • #2,581
  • Mar 22, 2011 10:40am Mar 22, 2011 10:40am
Quoting rbchapin
BigMike, it seems you have factored in static analysis along with the COG which is what I was trying to do but you are doing it so much better. Yet I wonder how you determined that you shouldn't go short at the red line (~.6260)? Because I couldn't resist the temptation to go short there but later on I reversed my direction due to static analysis. Thank you for the detailed reply by the way. Also it is a long way between .6459 and .6718

rb
Hi rb.

Here are some ideas, but I don't want to go in details, I'm not patient as a teacher.
Check the volume, pivots, sma's and you will get the feel of it.

COG is an active indicator, some bozo's say it repaints. Of course it repaints it's an active indicator adjusting to the last 180 bars !

Don't listen to anybody, do your own observations. Just like me sometimes you will be right, sometimes you will be wrong, but who cares, as long as you cash the market, milk the cow and sponge every penny out of it.

If you feel as a trader that it will drop, go ahead, pull the trigger.
The more you watch charts, the more you will get a feel of price action.
Here is a tip and game that I never give, (just because rb, aser and a few are not morons and respectfull):

- Setup your charts in a correlation pattern in the same row or columns: eur, cable, kiwi, aussie, etc...
- Another row with inverse correlated: swissie, cad, etc
All on same page (screen), I use 3 screens but it works with only one.

Then practice your eyes by looking where the market is going at a glance. Try 30-45 seconds, then 20 sec, 15 sec.... And close it.
If you did not feel the market you either looked at it too long and your brain got mixed signals or you looked at it too briefly to get the picture.

One exception is when it's totally sideway or on short uncorrelated periods (it happens). When that happens, hide the trigger, go watch the paint dry, count the raindrops, whatever and come back later.

This works only on long term TF.
Have fun cause this is such a boring job !

I'll put up one of my calls before facts, starting from scratch in the next few days if I feel like it, if one of the charts "speaks" to me, so you can understand better what the hell I'm talking about !

Yes I'm a "Chart Whisperer" (trademark), you know like the horse whisperer ! Let the trade come to you, don't make it up.

Pip it Up !

BigMike
  • #2,582
  • Mar 22, 2011 8:28pm Mar 22, 2011 8:28pm
BigMike, Thank you for your insight on how you trade. It seems like you have a pretty good thing going if you have devoted such a computer system to your trading. I am trying to digest what you have said and have to decided to focus on it in pieces instead of all at once. I think I will start on the pivots or upper / lower resistance and then add more stuff as time goes by. I look forward to seeing you do some examples cause it is the only way to really see.

Thanks again,

rb
  • #2,583
  • Mar 23, 2011 6:29am Mar 23, 2011 6:29am
Quoting rbchapin
So what does everyone think is going to happen with GPBUSD. Will it continue to go up as annalists predict or is a SELL in order? http://www.forexfactory.com/images/icons/icon7.gif
Hi rb,

I was wrong and you were right on this one.

I'm still waiting for confirmation on daily, so I hope it drops and make tons of pips.
Although my entry rules were not there yet...

Pip it Up !

BigMike
  • #2,584
  • Mar 23, 2011 7:56am Mar 23, 2011 7:56am
Hi,

I am also short on GBP/USD but my signal gave me an entry @1.6148, so let see if I can make some money on this one.
  • #2,585
  • Mar 23, 2011 7:59am Mar 23, 2011 7:59am
Quoting Big Mike
Hi rb,

I was wrong and you were right on this one.

I'm still waiting for confirmation on daily, so I hope it drops and make tons of pips.
Although my entry rules were not there yet...

Pip it Up !

BigMike
BigMike,

I wasn't making a prediction I just wanted to know what people thought. Especially since there are analysts who were predicting buy but the COG was saying it was time to sell.

Anyways I am still long and currently those same analysts are saying. "Current weakness is expected to be contained by support at 1.6244. Break however risks deeper setback to 1.6200 initially. Above 1.6403 renews bulls for run to 1.6459 next ahead of 1.6516."

You can take that information with a grain of salt of course. I don't think you can expect the price to move across such great areas without some set backs or correction.

rb
  • #2,586
  • Mar 23, 2011 8:24am Mar 23, 2011 8:24am
Hi Rb,

I do not listen to analyst, just need to look at the charts and see what need to be done.
  • #2,587
  • Mar 23, 2011 9:32am Mar 23, 2011 9:32am
Quoting Foreign Mark
Hi,

I am also short on GBP/USD but my signal gave me an entry @1.6148, so let see if I can make some money on this one.
do you average your position?
or do you take one single position with all in / all out?
just curious....
meine augen sind die sterne
  • #2,588
  • Mar 23, 2011 10:38am Mar 23, 2011 10:38am
Quoting Foreign Mark
Hi Rb,

I do not listen to analyst, just need to look at the charts and see what need to be done.
LOLLLLL Mark ! I agree with you 100%.
These same "analysts" predicted 20 times the last 2 crisis !
That says it all.

BigMike
  • #2,589
  • Mar 23, 2011 10:49am Mar 23, 2011 10:49am
Quoting rbchapin
BigMike,

I wasn't making a prediction I just wanted to know what people thought. Especially since there are analysts who were predicting buy but the COG was saying it was time to sell.

Anyways I am still long and currently those same analysts are saying. "Current weakness is expected to be contained by support at 1.6244. Break however risks deeper setback to 1.6200 initially. Above 1.6403 renews bulls for run to 1.6459 next ahead of 1.6516."

You can take that information with a grain of salt of course. I don't think you can expect the price...
Hi rb,
My Cable trade was closed at .9260 on retrace for the last remaining 2 positions. Classic good swing trade.

Sorry, I thought you had taken that cable short, my miss.

To my eyes it seems more like a consolidation before the next move. But I never make predictions either, just my charts "talking" and my big ego eyes interpreting what the hell is going on !
Your inputs are very interesting, I like different opinions and views of the market. However, when the word "analyst" is in the same phrase as Forex, I then start giggling !
Your opinion is as good as any, don't be scared of voicing it out, just don't rely on those experts, you are bright enough to make as good decisions as them, or should I say better !

Pip it Up !

BigMike
  • #2,590
  • Mar 23, 2011 11:16am Mar 23, 2011 11:16am
Quoting Big Mike
Hi rb,
My Cable trade was closed at .9260 on retrace for the last remaining 2 positions. Classic good swing trade.

Sorry, I thought you had taken that cable short, my miss.

To my eyes it seems more like a consolidation before the next move. But I never make predictions either, just my charts "talking" and my big ego eyes interpreting what the hell is going on !
Your inputs are very interesting, I like different opinions and views of the market. However, when the word "analyst" is in the same phrase as Forex, I then start giggling !
Your...
Well now I can play "what if" even though the COG repaints especially since I took the buy and it was already in a short position at that point. Had I stayed the course I would have come out just fine because I use a martingale to trade. So the bottom line is you are right I should have just stuck to what was already being played out. Now I am in this long position right about where it was opened. It looks to me though things will still work out. GPB/USD doesn't have that far to go before a long position is the right one.

From now on I will leave the analyst out of it and there will be less laughter or giggling.

regards,

rb
  • #2,591
  • Mar 23, 2011 11:46am Mar 23, 2011 11:46am
Quoting rbchapin
So what does everyone think is going to happen with GPBUSD. Will it continue to go up as annalists predict or is a SELL in order? http://www.forexfactory.com/images/icons/icon7.gif
took the same and am out with net +100 pips profit. very nice.

------------------------------------
watching gbp/aud.

on the H4 price is well beyond the green line. cog is pointing upward.
timing is a the low at about -8.

on the D1 we got price in the inner circle. cog pointing upwards, too. and timing at around -6.

Big Mike, would that be scenario where you would wait for the price to come to the outer boundaries?

me personally, i would wait and like to see a price at around 1.5775 which would also act as a good suppport-zone in the past.

any comments appreciated.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ga6.gif Size: 20 KB
Click to Enlarge Name: ga7.gif Size: 21 KB
meine augen sind die sterne
  • #2,592
  • Mar 23, 2011 3:43pm Mar 23, 2011 3:43pm
Quoting aserbfx
took the same and am out with net +100 pips profit. very nice.

------------------------------------
watching gbp/aud.

on the H4 price is well beyond the green line. cog is pointing upward.
timing is a the low at about -8.

on the D1 we got price in the inner circle. cog pointing upwards, too. and timing at around -6.

Big Mike, would that be scenario where you would wait for the price to come to the outer boundaries?

me personally, i would wait and like to see a price at around 1.5775 which would also act as a good suppport-zone in the past....
Hi aser,

I do not trade this pair so I really can't help you on that one, sorry...

BigMike
  • #2,593
  • Mar 23, 2011 10:37pm Mar 23, 2011 10:37pm
Quoting aserbfx
took the same and am out with net +100 pips profit. very nice.

------------------------------------
watching gbp/aud.

on the H4 price is well beyond the green line. cog is pointing upward.
timing is a the low at about -8.

on the D1 we got price in the inner circle. cog pointing upwards, too. and timing at around -6.

Big Mike, would that be scenario where you would wait for the price to come to the outer boundaries?

me personally, i would wait and like to see a price at around...
Hi aserbfx,
It seems that particular symbol needs to be run with a higher Ecart to capture its movements better. It would seem that 2.0 looks pretty good. Either way it qualifies for a buy signal doesn't it?
rb
  • #2,594
  • Mar 24, 2011 4:46am Mar 24, 2011 4:46am
Quoting aserbfx
do you average your position?
or do you take one single position with all in / all out?
just curious....
Hi, no I do not average, all in and out.
  • #2,595
  • Mar 24, 2011 2:14pm Mar 24, 2011 2:14pm
close short GBP/USD @1,6116 + 32 pips

and reverse for a long @1,6116 (UT4H) Risk 3%
  • #2,596
  • Mar 24, 2011 10:08pm Mar 24, 2011 10:08pm
Quoting rbchapin
Hi aserbfx,
It seems that particular symbol needs to be run with a higher Ecart to capture its movements better. It would seem that 2.0 looks pretty good. Either way it qualifies for a buy signal doesn't it?
rb
aserbfx, I am sorry my mistake it can't be 2.0 it has to be a harmonic of the golden rule so it would have to be something like 2.427045 which is the GR * 3/ 2.
  • #2,597
  • Mar 25, 2011 3:42pm Mar 25, 2011 3:42pm
As I posted on another thread, here is my plan before the closing of the market:
I only risk 1% total on each trade and I open 3 positions per trade (.33% per position) since we are Friday and a lot can happen over the weekend.

Pending Order, Short, Aussie at 1.0186, SL 1.0310
Pending Order, Short, Kiwi at .7485, SL .7670
Pending Order, Short, EURGBP at .8773, SL .8960

Those are my picks. Remember, these are at 1% per total trade (.33% per position), not my usual 3% per total trade. (1% per position).

My swissy trade remaining 2 positions are at BE still.

Pip it Up !

BigMike
  • #2,598
  • Mar 25, 2011 7:05pm Mar 25, 2011 7:05pm
Regards,

Big Mike, can you please tell me wich template and/or indicators are you using?

there are a lot of them, i wanna try urs.

Thy.
  • #2,599
  • Mar 25, 2011 11:49pm Mar 25, 2011 11:49pm
Quoting jgimenez76
Regards,

Big Mike, can you please tell me wich template and/or indicators are you using?

there are a lot of them, i wanna try urs.

Thy.
jgimenez,

Read my prior posts a few pages back.
It would take 6 years to explain all the details and then some...
Not that I don't want to share, but the best camera will only take the best pictures in the hands of the best photographer.
These kind of posts are making me consider starting a signal service...
I'm actually working with a signal platform provider on this...

BigMike
  • #2,600
  • Mar 26, 2011 1:39pm Mar 26, 2011 1:39pm
Quoting xard777
Here is a version of COG that I like.

http://www.sendspace.com/file/281945

Have included four templates.

All the best

Xard777
The link has expired.

I got here via further study of bollinger bands and booker bands.

Thanks to mike x and big jay and others for keeping a cool thread alive.

see mike i like to laugh too!

Don't let the @ get you down. Lot of good people getting benefit from your posts...
imbfo


good trading!
12 traders viewing now