DislikedMB's COG was designed for H4 and higher anyway. Problem is you don't get too many trades but those you get are good ones. But it sure is boring if you are sitting in front of a computer all day waiting for one of those trades. That's why I take my hat off to XStorm who has found a way to may it work on lower time frames like M1.Ignored
My own developed benkyalate system
- #2,884
- May 17, 2012 10:27am May 17, 2012 10:27am
Today was so much better than yesterday in that my effort for gathering pips took much less work!
I started out with the AU this morning. I hope that by now we can identify the swings together. I took 7 entries. One of which I barely managed to get out of with my shirt on!
I will post the picture here. Perhaps you can identify the swings and why I took them. I will then come back in another post and show which I took and why. We are hear to learn from each other, right?
Do you see the seven? Which ones would you have taken?
I apologize to the more advanced traders about the rudimentary appearance of this post...bare with me as I help everyone catch up.
I started out with the AU this morning. I hope that by now we can identify the swings together. I took 7 entries. One of which I barely managed to get out of with my shirt on!
I will post the picture here. Perhaps you can identify the swings and why I took them. I will then come back in another post and show which I took and why. We are hear to learn from each other, right?
Do you see the seven? Which ones would you have taken?
I apologize to the more advanced traders about the rudimentary appearance of this post...bare with me as I help everyone catch up.
- #2,887
- May 17, 2012 10:55am May 17, 2012 10:55am
Entered 2 positions. First position entered was a little early, second position entered at better price with a confluence of support from the weekly pivot. Risk 30 pips going for 120pips.
Good luck all,
- #2,891
- May 17, 2012 5:16pm May 17, 2012 5:16pm
Hey XStorm... your analysis and your templates are incredible. 
Trading the M1 is absolutely exciting to me always, and have been doing so right from the start. Trading the higher TFs has never been my cuppa-tea.
The highest TF for me is M5, and I very rarely take trades on M5 if there is no clear direction/signal on M1 or take trades on M1 in the direction of M5 rarely in sloppy market conditions.
And I believe in bottom-to-top approach that its the lower TFs that build up the higher TFs. Though taking trades on lower TFs in the direction of higher TFs is a bit safe, for starters; even then its not insured.
(Because Market has its own Intelligence, and it always balances itself no matter what, and bows to nobody... and thats the beauty of it)
Cobra, Eval, ES, Hanover, Al, Scoobydoo, n'bob, Steve H, Trader101, GVC, Orest, John Wustrack ........ et al have taken Forex Trading to the next level and has been nothing short of revolutionary.
I have spent sleepless nights for ~10 months reading the biggest threads from the great ones. have also tested thousands of commercial Indies, Strategies and EAs.Learning and adapting never ends.
Its only that we have to make a connection with the market and flow with it (path of least resistance). Unless one takes trading the market to the subconscious level (like we do so many things in our daily lives), one cannot be a great or successful trader is my belief.
XStorm your posts are definitely shortening the learning curve of the freshers. You have an incredible trading strategy in place. and its complete in the terms of Turtles.
I love your way of trading the M1. you have come a long way in a very short span of time, and you are goddam smart my friend. Overhauling my M1 system to the next level incorporating info from your posts. closely watching your postings always.
Thanks a ton for your great posts
. PipGods be with ya. so long.....
Best Regards,
Mony
Trading the M1 is absolutely exciting to me always, and have been doing so right from the start. Trading the higher TFs has never been my cuppa-tea.
The highest TF for me is M5, and I very rarely take trades on M5 if there is no clear direction/signal on M1 or take trades on M1 in the direction of M5 rarely in sloppy market conditions.
And I believe in bottom-to-top approach that its the lower TFs that build up the higher TFs. Though taking trades on lower TFs in the direction of higher TFs is a bit safe, for starters; even then its not insured.
(Because Market has its own Intelligence, and it always balances itself no matter what, and bows to nobody... and thats the beauty of it)
Cobra, Eval, ES, Hanover, Al, Scoobydoo, n'bob, Steve H, Trader101, GVC, Orest, John Wustrack ........ et al have taken Forex Trading to the next level and has been nothing short of revolutionary.
I have spent sleepless nights for ~10 months reading the biggest threads from the great ones. have also tested thousands of commercial Indies, Strategies and EAs.Learning and adapting never ends.
Its only that we have to make a connection with the market and flow with it (path of least resistance). Unless one takes trading the market to the subconscious level (like we do so many things in our daily lives), one cannot be a great or successful trader is my belief.
XStorm your posts are definitely shortening the learning curve of the freshers. You have an incredible trading strategy in place. and its complete in the terms of Turtles.
I love your way of trading the M1. you have come a long way in a very short span of time, and you are goddam smart my friend. Overhauling my M1 system to the next level incorporating info from your posts. closely watching your postings always.
Thanks a ton for your great posts
. PipGods be with ya. so long.....Best Regards,
Mony
sHF
- #2,896
- May 18, 2012 8:59am May 18, 2012 8:59am
Hey XStorm... your analysis and your templates are incredible.
Trading the M1 is absolutely exciting to me always, and have been doing so right from the start. Trading the higher TFs has never been my cuppa-tea.
The highest TF for me is M5, and I very rarely take trades on M5 if there is no clear direction/signal on M1 or take trades on M1 in the direction of M5 rarely in sloppy market conditions.
And I believe in bottom-to-top approach that its the lower TFs that build up the higher TFs. Though taking trades on lower TFs in the direction...
The thought that anything can happen is the biggest lie sold to traders. The market has limitations and can only do three things once you enter your trade: go in your direction, retrace, reverse.
The only trend that counts for a day trader is where the market is headed in relation to the daily pivot and even if you dont know the direction you can still make many pips!
Here is my steadfast philosophy: Dont worry where the market is headed; we are simply ticks on the elephants back and if you trade as such, you will be able to gorge yourselves while the elephant moves along its path. When an elephant is stampeding, it is far better to be a tick on the elephant's back, than a man in his way.
Nice chatting with you!
- #2,898
- May 18, 2012 9:31am May 18, 2012 9:31am
Go Right
I exit early if I just entered the trade and the market turns after only a few pips. If I see a retrace semafore appear followed by the SSL cross over or if my bottom indy crosses back in to enemy territory (enemy territory is the opposite of what I am trading) as signified by pa retreating back in the previous direction.
If I just enter a trade and it goes 5 pips in the opposite direction plus my spread, I am out.
Pardy;
The FX Airmer is just my toy. It is not necessary for the trade. But I use it as an indicator to tell me if I want to get into the market or not. The further the goal line is ( 10, 20, 30 pips) is from price action the slower the market is and I dont want to wait an hour for 10 pips. The obvious reason for the FX Aim is to help you set TP but I dont use it for that.
Code orange was just an analogy. But I do have it in my trade plan to define my decisions. Code orange is if the market retraces/reverses soon after I enter the market. Code red is price hitting my stop loss (which I treat like an emergency exit.) Defcon 5...is me entering in the market in moments of volatility (like the news) which means that I have to be on high alert. DOA is when I enter the trade and it immediately turns on me....I work hard on keeping that from happening. If the trade is DOA (dead on arrival) then like I said, I get out after 5 pips in the opposite direction.
Chat rooms: I am in a couple of private chat room that are private because when I wasnt as informed as I am now I bought into the strategies (paid too much for that which is offered here for free), however, soon as I can, I will open one that is dedicated to the CoG or TMA strategist.
Hope I have understood and answered correctly.
I exit early if I just entered the trade and the market turns after only a few pips. If I see a retrace semafore appear followed by the SSL cross over or if my bottom indy crosses back in to enemy territory (enemy territory is the opposite of what I am trading) as signified by pa retreating back in the previous direction.
If I just enter a trade and it goes 5 pips in the opposite direction plus my spread, I am out.
Pardy;
The FX Airmer is just my toy. It is not necessary for the trade. But I use it as an indicator to tell me if I want to get into the market or not. The further the goal line is ( 10, 20, 30 pips) is from price action the slower the market is and I dont want to wait an hour for 10 pips. The obvious reason for the FX Aim is to help you set TP but I dont use it for that.
Code orange was just an analogy. But I do have it in my trade plan to define my decisions. Code orange is if the market retraces/reverses soon after I enter the market. Code red is price hitting my stop loss (which I treat like an emergency exit.) Defcon 5...is me entering in the market in moments of volatility (like the news) which means that I have to be on high alert. DOA is when I enter the trade and it immediately turns on me....I work hard on keeping that from happening. If the trade is DOA (dead on arrival) then like I said, I get out after 5 pips in the opposite direction.
Chat rooms: I am in a couple of private chat room that are private because when I wasnt as informed as I am now I bought into the strategies (paid too much for that which is offered here for free), however, soon as I can, I will open one that is dedicated to the CoG or TMA strategist.
Hope I have understood and answered correctly.
- #2,899
- May 18, 2012 9:56am May 18, 2012 9:56am
Todays trade: EU
Since you all are becoming more advanced lets incorporate some more observations of this system. In this example keep an eye on MML which I use as objective S/R. Ok?
Let's review:
First trade: (Trend Continuation) Just before 11gmt. EU was headed up. Three things occurred here. PA was rising out of the buy/accumulation zone. Price failed to break Support and the CoG outer band had a tight grip on it almost seeming to force the bullish move to continue. So here we had a break, failure, confluence and trigger.
Second Trade: (Trend Continuation) Price failed at MML support, Kissed the innerband of the CoG. It also broke through the TMA. So we had break, failure, confluence, and a trigger.
Third trade was a bit tricky. Cog band and TMA was still pointing at 2 oclock. but I took a short. Can anybody see why?
PA was in reverse/accumulation area. I took a chance on that. Look at the beautiful confluence there: Price was twisted in the CoG high bands, it was failing at Resistance and broke the TMA.
I have to say, the TMA and the CoG has been the best invention since the discovery of Fibonacci Patterns.
Well folks, that is it for me. Its Friday and I am going to watch all my DVR recordings! .....What life?
have a great weekend! Duces!
Since you all are becoming more advanced lets incorporate some more observations of this system. In this example keep an eye on MML which I use as objective S/R. Ok?
Let's review:
First trade: (Trend Continuation) Just before 11gmt. EU was headed up. Three things occurred here. PA was rising out of the buy/accumulation zone. Price failed to break Support and the CoG outer band had a tight grip on it almost seeming to force the bullish move to continue. So here we had a break, failure, confluence and trigger.
Second Trade: (Trend Continuation) Price failed at MML support, Kissed the innerband of the CoG. It also broke through the TMA. So we had break, failure, confluence, and a trigger.
Third trade was a bit tricky. Cog band and TMA was still pointing at 2 oclock. but I took a short. Can anybody see why?
PA was in reverse/accumulation area. I took a chance on that. Look at the beautiful confluence there: Price was twisted in the CoG high bands, it was failing at Resistance and broke the TMA.
I have to say, the TMA and the CoG has been the best invention since the discovery of Fibonacci Patterns.
Well folks, that is it for me. Its Friday and I am going to watch all my DVR recordings! .....What life?
have a great weekend! Duces!