XStorm, I have been enjoying your blog and am intrigued by your trading setup. Could you possible give more of an explination as to why you enter the trdaes that you do? What were the indicators doing and what made you take the trade?
Thank you
I use the ABHA CoG to show me supply and demand areas. I use the MBFX CoG for support and resistance and confluence (the snap affect). I use the stochastic CoG because it reacts to price action faster. The TMA just helps supports extreme market action but when it is enveloping the stoch cog....I do not trade. That is a sign for me to stay out of the market.
I am a reverse trader. Some call it taking the swings, some call it scalping. But I enter the market on the reverses. The CoG is excellent at identifying reverses no matter what TF you choose. It is rare when PA does not stay within the boundares of the MBFX CoG and when it moves outside of it, it is even more exciting because the CoG at that point becomes a rubber band and snaps price back into a reasonable place.
So when I trade, I am watching for the "snap" areas to be hit. I use a mtf indicator (such as a 5 min stoch) to confirm the move before entry. If price turns and goes against me 8 to 10 pips, I am out waiting for another trade.
Some may say that is too soon. Perhaps, but 8 to 10 pips is a scalping trade on the 1 min TF and my scalping buddy made money while I lost the trade.
That tells me my entry was too fast. But I always follow the entry rules:
Break of the TMA, Fail at S/R on MML (which usually results in a 'snap" at the CoG), look for confirmation with a supportive indicator and the enter at the crossing of the SSL.
...I am just a tick on the elephants back.
) it would be great for the more experienced scalper...