My own developed benkyalate system | Page 149 | Forex Factory

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My own developed benkyalate system

  • #2,961
  • May 28, 2012 6:32am May 28, 2012 6:32am
Gbpusd short. Lets see what another week brings. So far no losses in the last 2 months.
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  • #2,962
  • May 28, 2012 6:44am May 28, 2012 6:44am
Quoting Fx_Pipin
Gbpusd short. Lets see what another week brings. So far no losses in the last 2 months.
hello, why u short ??
can u please tell me

did the price enter the sell zone ?

i see differently on my chart btw
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  • #2,963
  • May 28, 2012 6:50am May 28, 2012 6:50am
Quoting jajano
hello, why u short ??
can u please tell me

did the price enter the sell zone ?

i see differently on my chart btw
Because price touched the solid blue line which is the main indicator for entry, and it overlaps with the 38.2% retracement and a weekly pivot. So far im positive a few pips.

The reason you see different on your chart is because we are using a different TPL.
  • #2,964
  • May 28, 2012 6:58am May 28, 2012 6:58am
Quoting Fx_Pipin
Because price touched the solid blue line which is the main indicator for entry, and it overlaps with the 38.2% retracement and a weekly pivot. So far im positive a few pips.

The reason you see different on your chart is because we are using a different TPL.
can u please share ur TPL and indi
thx
  • #2,965
  • May 28, 2012 7:25am May 28, 2012 7:25am
Quoting jajano
can u please share ur TPL and indi
thx
Have you read at least the last 3 pages of this thread.
  • #2,966
  • May 28, 2012 7:32am May 28, 2012 7:32am
Quoting Fx_Pipin
Have you read at least the last 3 pages of this thread.
im sorry
i just have those indi an tpl already.
but still lil confuse about the entry rule and where to put the TP and SL.
  • #2,967
  • Edited 1:56pm May 28, 2012 1:08pm | Edited 1:56pm
Quoting jajano
im sorry
i just have those indi an tpl already.
but still lil confuse about the entry rule and where to put the TP and SL.
Jajano,

Did you succeed in installing the template? When I load the template the indicators (both COG and timing) do not show up on the chart. I need to install them manually after loading the template. Also, the pivot and R/S levels are totally wrong on the chart. I am wondering if this is because the template uses inputs from IBFX and I am using Alpari.

Edit: I have resolved the indicator issues by renaming them properly as per the template. I am just not sure what pivot indicator I should be using instead of the IBFX weekly pivot. I will have a look around.

I am attaching the template result here. If anyone knows what I am doing wrong I would certainly appreciate the input. Thank you
John
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  • #2,968
  • May 28, 2012 6:56pm May 28, 2012 6:56pm
the cog work fine, but the fibo and pivot wasnt there.
  • #2,969
  • May 29, 2012 2:35am May 29, 2012 2:35am
Hi, Fx_Pipin
Can you please clarify what is the correct rules you use for entry/exit and SL/TP setting
  • #2,970
  • May 29, 2012 7:46am May 29, 2012 7:46am
Quoting GoRight
Hi, Fx_Pipin
Can you please clarify what is the correct rules you use for entry/exit and SL/TP setting
The way I trade this system is i wait for a touch of the solid lines, the timing indicator to show and extreme in price complimented with some kind of S&R to make it a strong case also trade in the direction of the COG.

My SL is 50 and TP is 100 pips or more.

Below is another example of a trade i took last night short audusd. It touched the solid line and a weekly pivot R1 .

Good luck!
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  • #2,971
  • Edited 8:14am May 29, 2012 7:56am | Edited 8:14am
I still dont get it, about the functions of belkjhayate timing.

And, did you edit your SL and TP coz of the repaint indi ?
  • #2,972
  • May 29, 2012 8:19am May 29, 2012 8:19am
Quoting jajano
I still dont get it, about the functions of belkjhayate timing.

And, did you edit your SL and TP coz of the repaint indi ?
You short when price reaches 8 on the timing indicator and go long when it hit -8. I sometimes place the trades if it passes 6 or -6.

The purpose of the indicator is to allow you to get in at the right time.
  • #2,973
  • May 29, 2012 8:28am May 29, 2012 8:28am
Quoting Fx_Pipin
You short when price reaches 8 on the timing indicator and go long when it hit -8. I sometimes place the trades if it passes 6 or -6.

The purpose of the indicator is to allow you to get in at the right time.
Thank you

Btw you trailing your stop?? Or just let it there.
  • #2,974
  • May 29, 2012 8:29am May 29, 2012 8:29am
Quoting jajano
Thank you

Btw you trailing your stop?? Or just let it there.
After price move 30 or more pips in my direction i move SL to BE
  • #2,975
  • May 29, 2012 8:37am May 29, 2012 8:37am
Positive 40 pips on this one. All other trades SL moved to BE. Just collecting profit at this point! Looking for other opportunities.
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  • #2,976
  • May 29, 2012 8:48am May 29, 2012 8:48am
Hi Fx_Pipin,

You are first I see making consistently profit with this metod! Perfect! May you please post your pivot and fibo indicators please? It is too many different, I would like test same setup.
  • #2,977
  • May 29, 2012 8:56am May 29, 2012 8:56am
Quoting ls007
Hi Fx_Pipin,

You are first I see making consistently profit with this metod! Perfect! May you please post your pivot and fibo indicators please? It is too many different, I would like test same setup.
My pivot is provided by my broker IBFX I dont think it would work on any other broker.

The broker you are using should have a pivot and Fibonacci retracement indicator.
  • #2,978
  • May 29, 2012 9:49am May 29, 2012 9:49am
Thank you, Fibonacci indicator do you draw manually?
  • #2,979
  • May 29, 2012 10:13am May 29, 2012 10:13am
Quoting Fx_Pipin
The way I trade this system is i wait for a touch of the solid lines, the timing indicator to show and extreme in price complimented with some kind of S&R to make it a strong case also trade in the direction of the COG.

My SL is 50 and TP is 100 pips or more.

Below is another example of a trade i took last night short audusd. It touched the solid line and a weekly pivot R1 .

Good luck!
When the right time u waiting for the right setup? Coz it mean glue to the screen?
And are u waiting for the candle closed to entry new position?
  • #2,980
  • May 29, 2012 11:37am May 29, 2012 11:37am
Quoting ls007
Thank you, Fibonacci indicator do you draw manually?
Yes
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