I took trade in CADJPY H1.
this is interesting imma try this out and post my results ok
and if i found something interesting that would help improve this system, ill post it
btw can anyone discuss how to find a entry
the between the number 8 and 4 is still confusing me
hello,i wasnt able to open the attached files,coild you plz explain how to.thank you just joined the forum
Hi everybody,
I just feel it my duty to emphasize that you PLEASE, PLEASE practice this way of trading first with a demo accountā¦ I donāt want to talk badly about this system and CryAgony is a friend that just shared this way of trading, but it really isnāt even thatā¦ I canāt call it a system, itās just not good enough in my opinion to be taken seriously.
The indicator repaints everytime, yes, which brings with it a whole mess of problems.
Again, you are welcome to test it out but I urge all of you STRONGLY to not make the same mistake I made and test out the system with real money. First get to know itās characteristics.
Warm regards.
Hi! This is my first post and I actually made the account to ask why this system cannot be taken seriously? Also, you write that we should get to know its characteristics. Iām just confused
Iāve always thought that this system would coincide well with S/R levels and price action.
I hope this thread isnāt dead :T
Thatās exactly how you should you use it. not as a stand alone trading system (due to repainting), but as a help and confluence to price action and s/r analysis
cheers
Hello! Iām glad to hear that The repainting issue never really irritated me because I know what I saw and stand by my judgement at that very moment (canāt complain about your own judgement :)).
May I ask how it has been with you and the COG indicator? There was a post a while back stating that people use 120 or 180 bars back. I actually use 560 bars back and still play around with that number to see which better coincides with S/R levels.
I have so many questions but it seems like nobody takes interest into this approach anymore. Thanks for replying by the way. I was pleasantly surprised.
I created the topic so Iāll always be here replying to newcomers. I use standard settings, on high TF (H4 or D1, not lower).
Personally speaking, I do now trade only with price action. COG helped me a lot in understanding the momentum and to have something easily checkable as confirmation, but now I can pick my trades without any indicator, which is best in my opinion, as price is the only indicator that doesnāt lag
Another huge thing to look at is hidden divergence with stoch/macdā¦ works great with cog
let me know if you have further questions
Thank you I respect that.
Iām also fond of trading the higher time frames. It seems that all technical traders over time end up using pure price action. I have tried it with success but I canāt seem to identify a lot of the reversals or continuations unless it is a pure pin bar off of a S/R level. With the COG indicator, I could identify price action reversals and continuations much more easily. It just seemed that I was missing out on a lot of opportunities when I couldnāt identify the Inside or Engulfing bars (which seemed to be the most reliable regarding price action), which is why I came across the COG indicator. It seemed to be a more fluid version of S/R levels and trend lines combined. Perhaps Iām being too greedy?
I guess experience will only bring you back to price action haha. Are there more reliable price action signals besides the pin bars, engulfing and inside bars? From what I read, those seem to be the most reliable. Also, what do you mean by momentum?
Thanks again.
I think this is the noch of the discussion
On long term, people taking few trades are way more profitable than the ones taking hundreds of trades per month. you donāt need so many trades. The basic concept imho, is to trade a small account with the big account mentality. What kills small accounts is the āneedā to do a lot and fast
even more, high time frame signals are more reliable cos they include more informations (itās a pure statistics concept).
Taking trades with PA is not only about finding pins,insides etc etc, there are even too many of themā¦ you donāt want to trade them all, but just the ones that gives you a lot of confluences (swing levels, mean value, S/Rā¦). 1 trade per week is more than enough, belive me
identifying momentum with cog, iām refering to how steep the cog is, the more the better (if itās within the trend ofc)
Hope this helped (for further info on PA check āPrice Action, Candlesticks, and the Story They Tellā topic)
Well said my friend!
Itās best I learn this early. Gotcha, thanks guys
All roads lead to pure price action.
First trade using this system made 100 pips.
Is there any way to show these indicators on the 1 hour chart but keeping the inputs relative to the 4 hour chart?
Niceee what pair? I donāt think theres a way to keep the 4hr indicators relative to the 1hr charts :T Maybe if you tried programming it?
EUR/USD
Ok thx
Awesome system !!!
Just discovered this threadā¦and I have lots of reading ahead as Iāve only read first and last pageā¦have seen Belkayate in person many times at Parisās trading fairs, heās an entertaining character but seems to know what heās doing, seems to be more into trading gold than currencies.
Looks great! Anybody knows if there is a new version of Belkhayate system?
Thx
I donāt think there is a new version of the system but there are a TON of variations.
Last I read the site itself offering the MBFX system was selling their website. Iām not sure whyā¦but you can imagine
Can you elaborate on what you mean "you can imagineā? I read somewhere that the MBFX system is not ran or owned by Belkhayate. Do you know if it is or not? I would also like to know if you have experience and success with this system on 4 Hr and daily TF? Thank you.