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My own developed benkyalate system

  • #2,921
  • May 21, 2012 6:04pm May 21, 2012 6:04pm
Quoting XStorm
When I was swing trading, I used the Bankers Trade method. Now, I trade 3 pairs which I have gotten to know pretty well. I place 2 to 3 trades at a time. Split my screen and watch. I no longer scale out of my trades as I am on a 1 min TF. There is only entry and exit on the 1 min imho.

But...when using a larger TF and you choose to place several lots at a time, I would make sure that I had a contingency plan in place. I have seen and read how many traders using the CoG would allow PA to hit their stop loss or they will try a Martingale.

I have...
Thanks for taking the time to answer - trading is truely a balancing act between managing your wins versus cutting / stopping your losses. For me I have noticed that my winners go into profit almost immediately, while my losses rarely return to profit (using a scalping model) within a comfortable floating loss range.

Hope you are able to continue the posts / methodology / philosophy.... treuly appreciated. Thanks
It is better to die on your feet than to live on your knees. Zapata.
  • #2,922
  • May 22, 2012 8:22am May 22, 2012 8:22am
Attached Image (click to enlarge)
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  • #2,923
  • May 22, 2012 8:33am May 22, 2012 8:33am
Sometimes the market makes a move that is very familiar. When that happens, you know exactly what to do.

Someone mentioned that my trades look perfect - after the fact. That is such a true statement. Here is the EJ that I took short this morning:

Attached Image (click to enlarge)
Click to Enlarge Name: Xstorm 51.jpg Size: 94 KB


Pefect. Right?

But look at it before....a mass of confusion if you dont know what to look for:

Attached Image


In this case the EJ was headed up. The momentum was so good that the bands of the COG started tightening up. The TMA was not fooled by such a bold move and I also knew that market could not sustain a move like that for long. So I don't worry about missing a moving train. Catch it on the way back.

So what is my point today? Follow your rules until you get to know how PA behaves with your tools or vice versa. Somethings will only come to you as you trade repetitiously.

And RELAX for goodness sake! Do not trade with tension in your body, it will only serve to block the logical side of the brain...that is science 101. I listen to Pandora (my favorite songs....not chamber music!) On my template, I have toys and from time to time while I am waiting, I will play with the colors on my template or exchange bottom indies or chat with others. Do what you have to do to remove the tension so that you can think clearly.

Sometimes the market is not the enemy....it is you who are enemy to yourself. Listen to how you feel when you are about to take a trade. Once you have identified the emotion: fear, anxiety, confusion, frustration....find something to combat it. Dont ignore as I did in the beginning....(you will develop ulcers or stress your heart)

You are the holy grail. The way you see the market, the way you handle yourself in the market, your rules you have as per your vision of the market....

....everybody can give you advice and a strategy but only you can turn yourself into a trader.
  • #2,924
  • May 22, 2012 8:35am May 22, 2012 8:35am
Great job FX Pipin! You are racking them up!
  • #2,925
  • May 22, 2012 9:34am May 22, 2012 9:34am
XStorm, that trade you just showed broke the primary rule of never trading against the direction of the COG. This is supposed to be rule #1 in this system, the primary entry filter. So how do you account for taking a short there besides saying it was purely instinctual and discretionary?
To improve is to change. To perfect, is to change often.
  • #2,926
  • Edited 5:19pm May 22, 2012 10:15am | Edited 5:19pm
Quoting forexhard
XStorm, that trade you just showed broke the primary rule of never trading against the direction of the COG. This is supposed to be rule #1 in this system, the primary entry filter. So how do you account for taking a short there besides saying it was purely instinctual and discretionary?
Hi ForexHard,

That is exactly why I showed to the trade. . What I was trying to show was how experience shows you when there is an exception to the rules. To try to explain all the caveats of a trade would be nearly impossible.

So yes, the move went against the CoG, but was in keeping with the rules of the TMA....price pulled away from the TMA. The TMA was headed to 3:00. The CoG expressed the volatility of the market and EXPERIENCE has taught me that the market rarely sustains such a volatile move.

As this is my last week for posting daily, I am trying to drive home one thought: repetition, repetition, repetition......

.....Makes you the Master of your strategy....not the other way around.

Sharp eye, Forexhard! I was hoping someone would catch that move. It makes me feel great that as I leave that you all are training your sight for this strategy! My time here was not in vain.

Duces!
  • #2,927
  • May 22, 2012 10:58am May 22, 2012 10:58am
This trade gave me too many reasons to take it. Trading in the direction of the 4H trend, respecting the 61.8% retracement, small risk SL right above weekly resistance, and of course the touch of the COG line.

Yes all trades are on my live acct. All other positions except for 1 are risk free meaning stop is moved to BE. So far its the 3rd day of the trading week up close to 300 pips. Stress free trading I check the charts about 3-4 times a day for about 5 mins to see if there are any potential set ups. No need to be glued to my screen.

Many pips to a!!
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  • #2,928
  • May 22, 2012 2:02pm May 22, 2012 2:02pm
Finally was able to take this trade since i was able to move all SL to BE on all trades minimizing risk as much as possible. No losses this month yet .. I will wait until this one goes into profit before so that i can move SL to BE before i can look at another trade. MM is the key to making any system a success.
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  • #2,929
  • May 22, 2012 4:24pm May 22, 2012 4:24pm
EURUSD close at 130 pips
GBPNZP close for 220 pips
EURCAD closed for 60 pips
AUDCAD closed for 80 pips
USDJPY closed for 5 pips

Total amount of pips made on my live acct since i started posting on this thread again : 495 Pips! In 5 days!

AUDJPY Floating positive 70 pips ( thinking about closing it)
NZDJPY Floating positive 40 pips ( want some more $ before closing)

I am now going very conservative for the rest of the week with my trading no need to get greedy .

Happy trading a!!
  • #2,930
  • May 22, 2012 4:54pm May 22, 2012 4:54pm
Wow, FX Pipin! Almost make me want to trade a higher TF. Almost, not quite! But that is fantastic. I am beginning to think that kind of pip harvest is a product of the power of the CoG. As ppl can see, we trade two different TFs but are almost able to produce the same amount of pips a week (although you just blew me out of the water with that 5 day total and counting! )

It is still amazing to me how one trades higher TFs.... when I did, I shook in my boots the whole time. Smaller TFs gives me a sense of security.....dont know why....

I wonder if Benkyalate understood the power of the CoG when he created it? It can be used like trendlines, for measurement and direction (like a fib), it shows volatility and momentum in the market. It acts as support ad resistance. It is based on the economics of supply and demand and in between the two is a middle line. The tool is almost divine.

It is one of those tools that should not ever be buried...

FX Pipin....do you think you could/should start a non-commercial thread using the CoG?.....I am not sure of the rules here on FF. But if it is legal....I would certainly support it. And I am sure a number of folks here would follow as well.

Anyway....wishful thinking.
  • #2,931
  • May 22, 2012 8:12pm May 22, 2012 8:12pm
Closing audjpy. I am up 110 pips for that trade, I think that is enough before it retraces.

Also looks like nzdjpy is going to hit my TP for 80 pips.

Happy trading all
Attached Image (click to enlarge)
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  • #2,932
  • May 22, 2012 8:33pm May 22, 2012 8:33pm
Quoting XStorm
Wow, FX Pipin! Almost make me want to trade a higher TF. Almost, not quite! But that is fantastic. I am beginning to think that kind of pip harvest is a product of the power of the CoG. As ppl can see, we trade two different TFs but are almost able to produce the same amount of pips a week (although you just blew me out of the water with that 5 day total and counting! )

It is still amazing to me how one trades higher TFs.... when I did, I shook in my boots the whole time. Smaller TFs gives me a sense of security.....dont know...
Higher TF displays more respect for support and resistance, Less repainting of the COG, and a better feel for the overall direction of a pair IMO. If you trade the 4H TF on all pairs you will find a trade almost everyday. Thus making it an easy playing field for me. Hey i respect you or anyone that chooses otherwise.

I seriously thought of creating a new thread for this system and I am still thinking about it lol, if i do i would start it in June.
  • #2,933
  • May 22, 2012 8:37pm May 22, 2012 8:37pm
Quoting Fx_Pipin
EURUSD close at 130 pips
GBPNZP close for 220 pips
EURCAD closed for 60 pips
AUDCAD closed for 80 pips
USDJPY closed for 5 pips

Total amount of pips made on my live acct since i started posting on this thread again : 495 Pips! In 5 days!

AUDJPY Floating positive 70 pips ( thinking about closing it)
NZDJPY Floating positive 40 pips ( want some more $ before closing)

I am now going very conservative for the rest of the week with my trading no need to get greedy .

Happy trading a!!
All trades are now closed. So my total for the past 5 days of trading is 685 Pips!
  • #2,934
  • May 22, 2012 10:12pm May 22, 2012 10:12pm
Quoting Fx_Pipin
I am unable to load the TPL this is the error i get ( Your file of 1.31 MB bytes exceeds the forum's limit of 976.6 KB for this filetype. )

Anyways here are the inputs i use for the cog
Bar back 123 , m2 , i0 , kstd 4.5 , sname 720 .

Good luck!
Hey Fx_Pipin,

1) I tried your inputs above, but did not get the same looking cog as you did on your chart.

2) From your chart, it looks like you have 2 different cogs - one with 5 solid lines, and one with 5 dotted lines.

Could you recheck the "input" settings for the 2 cogs on your chart and post them again? Thanks in advance!!!
  • #2,935
  • May 22, 2012 10:17pm May 22, 2012 10:17pm
Quoting kokopelli
Hey Fx_Pipin,

1) I tried your inputs above, but did not get the same looking cog as you did on your chart.

2) From your chart, it looks like you have 2 different cogs - one with 5 solid lines, and one with 5 dotted lines.

Could you recheck the "input" settings for the 2 cogs on your chart and post them again? Thanks in advance!!!
Try this TPL
Attached File(s)
File Type: tpl orabi.tpl   17 KB | 624 downloads
  • #2,936
  • May 22, 2012 10:31pm May 22, 2012 10:31pm
Quoting Fx_Pipin
Try this TPL
Got it! Will study this system for the next few days.
Thanks!!!
  • #2,937
  • May 23, 2012 6:41am May 23, 2012 6:41am
The reason fxpippin is doing so well is that the MB system was made to be traded on H4. Of course, clever guys like Xstorm have adapted it and made it work on M1. I'm using H1 only because waiting for trades on H4 is like watching paint dry.
  • #2,938
  • May 23, 2012 6:45am May 23, 2012 6:45am
Out of interest why is most of the timing indi missing from your charts and template?

Presumably you ttake your trades on a hit of the blue and yellow dashed lines?
  • #2,939
  • May 23, 2012 6:52am May 23, 2012 6:52am
Just noticed something else - you have an extra line in the bottom half of the COG!!!

Looking at AUDUSD (at the time of writing this post) if you had taken a long on the hit of the dashed line you would now be 20 points up. However, this contravenes one of your early posts when you advised only to trade in direction of the COG.
  • #2,940
  • May 23, 2012 6:59am May 23, 2012 6:59am
Forget the first line of message above - the line is there in the upper half but similar colour to background and with my tired eyes I didn't see it.
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