Here is the pic of the entry on GBP/CHF. The stochs were nearly identical on GBP/JPY, although there was no EMA cross. That said, the previous candle was bearish and JPY and CHF are closely correlated due to their low interest rates. That way, I used a signal on GBP/CHF to enter on GBP/JPY.
Silverhal, which EST are you talking about? I live in Brisbane which uses EST, but it is very different to the New York EST.
-Benjimang
Gāday people!
Iād like to draw everyoneās attention to GBP/JPY for today. at 2:00am GMT it seems that we will se an EMA cross on the 30min and 1 hour timeframes, supported by a recent cross on the 15min. Stochs are all in the right positions. Take note also that there has JUST been an upward cross on the daily for EUR/JPY. I actually noticed this earlier, but have been waiting for the last few hours for an entry on a smaller timeframe. I think this is it. I will still be trading GBP/JPY, I just may hold this trade a little longer than I normally would trading the hourly, depending on how things shape up.
I will buy at 2:00am GMT at a price point that should be somewhere near 230.20.
-Benjimang
EDIT: I have just attached a pic of the 30min chart. It shows the signals most clearly.
Thanx big Benjimang. keep this informative stuff going please. Hopefully I can learn from these pointers.
Ok, well I have hit my target profit of 30 pips. In all honesty, I probably could have held on longer, but setting profit targets are my weak point. The reason I took profits at that level were twofold:
Stochs on the half hourly were very high. I realise this doesnāt necessarily mean a large drop is coming, but for me now, 30 pips is much better than BE or a loss.
While my technicals are pointing to a price rise, I am aware that the US payroll data has somewhat re-ignited the US credit crisis concern. That has already shown itself across global equity markets, and Iām half expecting a sell off of high yield currencies (like GBP) against low yield currencies (like JPY). So although EUR/JPY EMAās have crossed earlier today, Iāll wait for the G/J daily cross before I hold a long position for a decent amount of time.
I certainly hope someone else out there caught this little move.
Cheers,
Benjimang
Thanks to your alert, I hit it and net around 25 pips. I m not complaining.
Nice one Silverhal!
As it turns out, that wasnāt such a bad time to exit. You could have held on for another hour or so to net another 15-20 pips, but that was too greater risk for me.
-Benjimang
Benj. -
Are you using different indicators for different pairs? The thumbnails for 9/8 &
9/10 sure are so I am wondering how you decide that. If I missed this in an earlier post , my apologies. D.
Hello All, this kind of day trading would suit me as i have to work 8am-5pm during the week. Therefore, maybe i could trade before work and check when i get home!? Anyone tried these methods recently? How did it go?
Thanks!
No, you didnāt miss anything mate. Sorry for the confusion too, I didnāt even think about that before I posted the pics.
Basically I tend to focus most on the EMA cross and the position of the stochastics. These are the same on both charts.
I use RSI to try to identify retracement points. Youāll notice on that chart for GBP/JPY that I have two RSI lines. Yellow is 14 period and the blue is a 5 period RSI. Whenever the blue goes up over 80 or down under 20, I can expect a small retracement soon, so I can time my entry a little better. Whenever the yellow goes into the extreme zones, you can expect a sizeable retracement very soon, and itās worth trading this retracement.
I also have the CCI up on one chart and not the other. It is a green line on my charts. Iām still pretty poo at effectively using CCI to assist my trades
I do actually tend to use the same indicators, but I also swap from Demo to Live accounts and my setups are slightly different. That difference is only through laziness, not strategy. Hope that helps mate, and good luck with this system hey.
-Benjimang
Hello to everyone here it seems that this strategy really works well i want to say that we all here in babypips are grateful to maurizio77 that he share it with us 
I even use something like this ā¦:))) but i really don`t like CCI ;]]]]] but this system is very god thanks for sharing ā¦;)))i wish all of you good pips with this baby
Gāday everyone!
Ok, Like I mentioned yesterday, we have an EMA cross on the Daily for GBP/JPY. Iāve been waiting for hours to enter though, as stochs were high when the new candle formed and RSI(5) values have been up over 80 on most of the lower timeframes and RSI(14) has been up around the 70 mark as well. A few hours have passed since my Daily stepped, and I know that there are those of you out there who are now several hours past the stepping. Good news is that stochs have hit rock bottom on 15 min and 30 min charts and RSI(5) has rebounded off the 20 mark. I would be looking to go long at the next upward crossing on a timeframe higher than 15 mins.
-Benjimang
Wow. Just finished an extremely pleasant and informative 3 hrs going through this thread. Have printed out much of the material to digest over the next few days. It is really inspirational to see how you guys have worked together to continually test and improve this system. I feel somewhat privileged to be able to come in at this point and begin doing my own basic due diligence on the system as it stands. Many thanks and I hope at some later date I can make some sort of contribution
Hi all,
Just to let everyone know, I went long at 12:30 GMT (231.79). If you were too late to catch that, you should be able to find a valid entry any time now on GBP/CHF. Remember, CHF and JPY are fairly closely correlated, so I tend to trade both. If I miss the boat on one pair, Iāll look to the next. I also use EUR as a replacement for GBP on the other side of the equation.
-Benjimang
Hi Maurizio,
When entering a trade, do we set the take profit at the bollinger band [B]at the time of entry[/B] and then just leave it? I find during the quieter hours, the BB tends to narrow and the profit target is out of reach unless there is a big move.
p.s. This system is fantasticā¦have traded it 3 times in the past two days and have been successful on each one!
Gāday again everyone!
Iām sorry I havenāt been posting trade ideas and pics as or before I take them, so I thought Iād post my results for the last month and a half to show that the system works. Just a couple of notes though:
This is demo trading. I do trade live, but am a little undercapitalized at the moment to handle some of the stops that are required (according to my risk appetite). These are still the trades I would have taken, using the money management I have been using live trading.
The large drawdown you can see right at the end of August was the result of poor trading. I had some personal issues to deal with at the time. This goes to show how important keeping a clear mind is when trading.
This is not a brag fest. Iām just trying to show that the system does work. Please send your donations to Maurizio, not me.
Cheers all,
Benjimang.
Results.zip (8.08 KB)
Very generous of you to share this mate, thanks so much
Hi maurizio77, just wanted to thank you for sharing the update to the method. I have been developing my own and monitoring other traderās ideas for several years now and this certainly ranks as one of the best. 
Hi Benjimang. I was trying to follow your trades on my charts and having some problems As an example your trade on GY, 22/8 at 20.52 entry 229.87 is not following the ema cross. What am i missing here?
See, here is why I really want to get into the habit of posting pics of trades as, or before, I make them. If you look at the pic attached of the daily for GJ you can see that there is a cross ON the 22nd. My candles step at 00:00 GMT. By entering at 20:51 GMT, it would seem that I was pre-empting the cross and entering early. As it turns out I was chatting with Shaun365 at the time and his charting package steps at 21:00 GMT. We used his signal to enter.
Keep in mind that with stochs so high on the lower timeframes, I put on a very loose stop (around 100 pips from memory), then went to work, hence still being 10 mins early. As Shaun pointed out to me afterward though, it only retraced 30 or 40 pips before rising right throughout the day. I went with his decision to use a 75 pip trail and we each netted over 400 pips. Well done to Shaun too, I was going to wait another 4 hours or so to enter according to my crossā¦ he made a good call.
-Benjimang
P.S. gnore my chart setup, I was just mucking around with some other indicators, and removed them before capturing the pic.
[QUOTE=Benjimang;22057]See, here is why I really want to get into the habit of posting pics of trades as, or before, I make them.
-Benjimang
If you do get the chance to do that it would be really helpful. Like many successful traders I think you have got a feel for the chart which informs what you do. Certainly your results over the last few weeks are very impressive - well done
