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My own developed benkyalate system

  • #3,121
  • Nov 13, 2012 9:00am Nov 13, 2012 9:00am
Hi guys

this system works,like many other system on this Forum

Do NOT stay focused on the repainting issue
the main actor of the show is the Price action,CoG can help you to catch retracement and Timing indi is for overbought-oversold areas

PRICEACTION & MONEYMANAGEMENT are the milestones, that's Forex.
Account deleted
  • #3,122
  • Nov 13, 2012 11:48am Nov 13, 2012 11:48am
Quoting swissforex
Hi guys

this system works,like many other system on this Forum

Do NOT stay focused on the repainting issue
the main actor of the show is the Price action,CoG can help you to catch retracement and Timing indi is for overbought-oversold areas

PRICEACTION & MONEYMANAGEMENT are the milestones, that's Forex.
Very well said
  • #3,123
  • Nov 15, 2012 11:32am Nov 15, 2012 11:32am
Just for fun here's another example. A trade i took a few hours ago. System still going strong!

The picture speaks for itself as to how i'm placing my trades.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.jpg Size: 97 KB
  • #3,124
  • Nov 15, 2012 11:58am Nov 15, 2012 11:58am
Quoting Buitres
I'm new with this system but I think and you can see it's formidable .
It looks great in hindsight but start trading with it! The cog moves so it was not in the same place, I have time lapsed the cog with a trading simulator and it hardly ever gives reliable signals!
  • #3,125
  • Nov 15, 2012 2:13pm Nov 15, 2012 2:13pm
Quoting Jandre
It looks great in hindsight but start trading with it! The cog moves so it was not in the same place, I have time lapsed the cog with a trading simulator and it hardly ever gives reliable signals!
This is true and has been made more than clear since the very beginning of this thread. The indicator repaints which is why you don't just rely on it alone, notice my many charts i have posted and how i use the cog with non repainting indicator such is fibs, pivots, trend lines , etc.

I have been distracted and making a lot of money with this strategy and don't really feel the need to prove that it works especially since i posted a lot of my live trades and all the profit i made with those trades. Maybe this strategy is not for you.

Put 5 people together and tell them to trade a simple 6,8 moving average cross over and all will have different results some will be very profitable.

Benkyalate system came from one of the most successful traders in the world. The money he made with this system would make your jaw drop (do the research). But hey it's not for everyone.
  • #3,126
  • Nov 15, 2012 3:08pm Nov 15, 2012 3:08pm
Quoting Fx_Pipin
This is true and has been made more than clear since the very beginning of this thread. The indicator repaints which is why you don't just rely on it alone, notice my many charts i have posted and how i use the cog with non repainting indicator such is fibs, pivots, trend lines , etc.

I have been distracted and making a lot of money with this strategy and don't really feel the need to prove that it works especially since i posted a lot of my live trades and all the profit i made with those trades. Maybe this strategy is not for you.

Put 5 people...
he fx pipin.....just caught this thread and really appreciative of your input thus far....if you have time, could you post some Potential trade setups...I see where eur/usd might be setting up right now....thanks in advance!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd sell setup.gif Size: 38 KB
  • #3,127
  • Nov 16, 2012 11:46am Nov 16, 2012 11:46am
Quoting Fx_Pipin
Well let's give it a try.

Thanks for sharing!
great please let me know your findings
Bulls are stupid Animals!especially when Im short!
  • #3,128
  • Nov 18, 2012 5:35am Nov 18, 2012 5:35am
Quoting Fx_Pipin
Just for fun here's another example. A trade i took a few hours ago. System still going strong!

The picture speaks for itself as to how i'm placing my trades.
Hi Pipin, can you tell me how this system of yours works please?
just to prevent a new thread IN a thread you can skype me and explain...MUCH appreciated

skype: zukies1

Thanks
  • #3,129
  • Nov 19, 2012 9:53pm Nov 19, 2012 9:53pm
Quoting 4xplosion
he fx pipin.....just caught this thread and really appreciative of your input thus far....if you have time, could you post some Potential trade setups...I see where eur/usd might be setting up right now....thanks in advance!
I am curious about this indicator on lower timeframes for intraday trades when I get the rare opportunity to do them.

Does anyone know how to code this so it prints an arrow and alert when turning up or down?
An arrow that does not repaint but simply prints on directional change?
It would be interesting to find its true accuracy for swing trades off support and resistance etc.

Thanks.
Come with me if you want to live....
  • #3,130
  • Nov 20, 2012 12:58am Nov 20, 2012 12:58am
Quoting Jandre
It looks great in hindsight but start trading with it! The cog moves so it was not in the same place, I have time lapsed the cog with a trading simulator and it hardly ever gives reliable signals!
I have found that I had to practice with this for many, many hours to catch on to it. It is sorta like, if you want to use this system you will have to work with it until you can make it work for you. I well understand your frustration with it as I had the same for a long time.
  • #3,131
  • Nov 21, 2012 10:11am Nov 21, 2012 10:11am
Just one question mike, I've been reading some of your posts in this thread, you have posted a lot of trading results, I want to know why you have losers, according to oan there ARE no losers or you just prefer keeping your stop tight, is THAT why?

Thanks
  • #3,132
  • Nov 23, 2012 1:46am Nov 23, 2012 1:46am
Quoting Fx_Pipin
Just for fun here's another example. A trade i took a few hours ago. System still going strong!

The picture speaks for itself as to how i'm placing my trades.
Can you send over this indi for me please? (weekly pivots)

Thanks
  • #3,133
  • Nov 23, 2012 9:23am Nov 23, 2012 9:23am
Quoting zukies
Can you send over this indi for me please? (weekly pivots)

Thanks
The weekly Pivots is an indicator that my broker(IBFX) provides.

If that's the broker you use than ill be more than happy to send it to you, otherwise it would not work.
  • #3,134
  • Nov 24, 2012 8:25am Nov 24, 2012 8:25am
Quoting Fx_Pipin
Good question. The reason for this is because momentum would slow down and price would go into a range thus removing the sling shot affect to take price where i want it to go. So instead of having it retrace back i take profit at that point and maybe reenter if price comes back to point A with the right signal.
Pipin, first of all, just...ASSUMING you are QUITE well of financially by now (seem this system will turn ANYone trading it in that direction...eventually) you STILL take time out to post your trades, you also have a lot of patience to show others your way of exits and giving examples of these. For this I am TRULY grateful!
THANK you for that
Now onto business
You speak of price moving into "range", how do YOU know this? Do you use the momentum indi that comes with mt4? If so, how do you use it to see when price is going to move into range
The other thing, can you send over a pdf or something to show how fib indi works, I had one YEARS ago but somehow lost it because I didn't see this indi working if price kept going up then down then up like yo-yo (with this method you would do more LOSING than winning, but, combine fib with THIS system, I can see this working...WELL)
Thanks my friend
  • #3,135
  • Nov 24, 2012 8:31am Nov 24, 2012 8:31am
Quoting Fx_Pipin
Great observation boerseun,

Seems like a great setup, i personally would not take that trade because the long term overall direction of the trend is down. Trading in the direction of the trend of course increases your probability. From my experience picking tops and bottoms can hurt. Look at price action on that very chart in the past you will see that there where many points where one would say hey i found the bottom and at this point and the trend would change, come to find out the trend continues down and that happens more time than not.
Just a quick note of observation here:
Concerning this setup, if one DID take this long it EVENTUALLY DOES bounce back but only JUST (if we set our SL to 300 pips according to Oan's system), no, I NOT trying to prove pipin wrong here, I'm just saying that it just amazes me how accurate this system of Oan's IS although it DOES make sense to go WITH the trend and not against it (just less pips to collect in many cases and more risky)
  • #3,136
  • Nov 24, 2012 8:52am Nov 24, 2012 8:52am
Quoting Fx_Pipin
What a slow week +135 pips about 5% on my acct. I am very happy with that because as a live trader any gains are well appreciated ( even more, consistent gains) .I consider a BE week a good week! I have been trading live for 5 years i came a long ways to understanding patience, MM and discipline. So far i have no losers using this strategy and Ive posted all my trades so you can see it too.

Note to self; stick to one thing, focus on trading this stradegy only and not get distrated on other methods. Looks for only the best possible setups.

Happy...
pipin, nicely put (about sticking to one that works)!
You know, I been around for about 4 years mySELF looking around and some more around....
You know how goes, so yes, once you HAVE one system that works...STICK to it and don't get distracted, this (from what OTHERS are saying) gives enough pips to stick to...only one. I get DOZENS of mail a DAY with systems "this one is SO unique and different, I make 1000's a DAY! Try it", eventually you get TIRED of all "smart" talk!
NOT to mention EA's!!!!
MAN! a person gets TIRED of
I just RECENTLY started trading this system (monday I started in fact, 2x winners...GJ and EJ both long) so if this continues (which I'm SURE it will) I'm unsubscribing to ALL the JUNK I'm getting in my inbox!!!!!! I'm SICK of it

Anyway, just my 5c worth

Good pips to all, especially to those who've sweated it out TRYING to look for...DECENT system...you guys...deserve it
  • #3,137
  • Nov 24, 2012 6:13pm Nov 24, 2012 6:13pm
Quoting zukies
pipin, nicely put (about sticking to one that works)!
You know, I been around for about 4 years mySELF looking around and some more around....
You know how goes, so yes, once you HAVE one system that works...STICK to it and don't get distracted, this (from what OTHERS are saying) gives enough pips to stick to...only one. I get DOZENS of mail a DAY with systems "this one is SO unique and different, I make 1000's a DAY! Try it", eventually you get TIRED of all "smart" talk!
NOT to mention EA's!!!!
MAN! a person gets TIRED of
I just RECENTLY started...

Glad you agree, It's insanity to see members here since 2007 roaming from trading system to trading system. What happens a lot is you trying a new system and it losses for 2 weeks because of the loss you now move on to a new system. When the system work 70% of the time.

Another issue I learned over the years is that all indicators suck! All they do is FOLLOW PRICE! Does that make any sense?? No! Before i started trading this strategy again, i traded with nothing on my chart but TL's , FIB's , and Pivot's. Adding the COG just help me better determine an extreme in price thus allowing me to use these leading indicators more effectively.

Aside from what i mentioned. Having a good MM skills are more important. I just feel bad to see traders in there never ending search, following others who are searching themselves and expecting different results. The truth is a lot of members would not be on this forum if they where successful in trading. Instead we choose to follow the 97% of traders and their strategies. I'm glad i decided to walk away and do my own thing using the COG , trading the bigger Time Frames like the large institutions do and all the other successful traders, and not trade the smaller Time Frames like the 97% does on these forums.

Anyways... I could go on.....but, Good luck in your adventure!
  • #3,138
  • Nov 25, 2012 8:23am Nov 25, 2012 8:23am
Just two questions for anyone who can help
I'm trying to find a very good, accurate exit strategy, been thinking of fib retracement (if anyone has a pdf of how this indi actually works I would appreciate) together with S/R lines

OR

One that oan suggests: the middle blue line but...DOES this strategy ONLY work if you enter in same direction as the trend or works in countertrend as well, I DID find someone on this thread who complained that his/hers didn't MAKE mid line and results came out negative (never recovered) and DOES this blue line strategy only work if price hits SOLID line or it works for dotted line as well?

(Personally, I would PREFER using blue line but if it's not as reliable...would rather use option #1)

Anyone got some advice?
I prefer something which isn't THAT complicated to understand (if it IS bit complicated I need someone who has a lot of patience to help explain how it works)

Thank you in advance
  • #3,139
  • Nov 30, 2012 12:48am Nov 30, 2012 12:48am
Zukies
Many people use their own settings for the indicator so it is going to be difficult to tell you correct entries and exits.
What I can suggest is that you set up a spreadsheet and then record on it your entries and exits for a few hundred trades so as to get an idea as to what your entries and exits should look like.

In other words, this is a self taught exercise and what I think to be valid would not necessarily be valid for you... You will have to spend many hours studying how the indicator works after your entries..... and then once you have studied long enough the entries and exits will become clear to you.

Hope that helps.
  • #3,140
  • Nov 30, 2012 5:38pm Nov 30, 2012 5:38pm
Try this instead it's not repainting! these settings seem to work fine on the Daily charts
feel free to experiment with different settings on lower time frames.
it is 2 Envelopes on top of eachother with different settings.
I would not be surpriced if this is what the original system looks like,
anyway, I am pretty sure he was not using a repainting version.
Attached Image (click to enlarge)
Click to Enlarge Name: test.jpg Size: 177 KB
Attached File(s)
File Type: tpl envelopes.tpl   3 KB | 623 downloads
File Type: mq4 Envelopes.mq4   3 KB | 763 downloads
File Type: ex4 Envelopes.ex4   3 KB | 629 downloads
Bulls are stupid Animals!especially when Im short!
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