Scalping system #11 (The Center of Gravity)
Submitted by User on February 27, 2009 - 18:35.
Submitted by Ashur
Alright first of all, I just want to say the indicators that i'm going to post and show are not mine so i take no credit for them. The center of gravity indicator was created by Oan. The idea is based on Mostafa Belkhayate's system. Also the sweet spots indicator was taken from "Patrick Bourgeois" with his submission of "Trading by Psychological Levels". So I'm going to upload all the indicators, and all you do is, put them in Metatrader/Experts/Indicators folder. Im also going to upload the template so all you have to do is load the template.
The rules are these:
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Thomas, as I am just observing this system at the moment I am unable to give you any screenshots or results, but if you look at the screenshot supplied by Ashur you can see (on the left hand side)the thick blue centre line change from upwards to downwards direction, soon after this the price drops through this line 3 times but no trade is taken because neither of the price drops hits a sweet spot line. Soon after this the price drops through the line and hits the sweetspot line, before going on to hit the second one soon afterwards. Soon after this the price again drops through the line but at this point the line is "flat" so I don't think I would have taken this trade. As the line then turns upwards a trade is signalled in the up direction, the first sweetspot line is hit followed very quickly by the second a short time later. As I said, I'm no expert but it looks to me that it could be traded like this. Oh, by the way, I just checked some trades that were signalled last night (early morning actually) that I wouldn't have taken due to the time, but there were 4 winners 0 losers. Regards Andy
what setting will COG & sweet spots indis be ?
Hi, I just thought I'd let you all know that I am still checking this system daily to see how it performs over the long term. The COG indicator does keep "re-painting" but there is always about 12 hours worth of indicator on the chart. This means if you look back at the charts two or three times during the day you can get a full 24 hour view of the indicator working. Further to Monday's observation of 13 winners and 1 loser, I can say that I observed 5 winners and 1 loser yesterday (3rd March)and 8 winners and 1 loser today. I have to say that I have NOT traded this system due to daily work commitments and, as I said in a previous posting, I may not be using the system as Ashur would recommend but if these observations can be turned into actual winning trades, then who cares!! My observations have been based on taking the 20-25 pip profit between sweetspot indicators with a stop loss of 40 pips for each trade. If anyone else is following this system and is not seeing the sort of results that I am, could you please post your info here, so that I could compare and, once again, make sure that I am not completely mis-understanding the system.
Regards. Andy
Oh, I forgot to mention, I am checking this system using GBP/USD, EUR/USD and EUR/GBP currency pairs because they have the tightest spreads for me( I use IG Index for spread betting).
Regards Andy
Here is a picture for how to do it. If COG is down you only take sellorders.
Hi Ashur, and all ...
I found this system truly amazing today!! Although I was trading it a little differently. I would as the system states trade WITH the gravity line, but entered a trade immediately as the price fell below or above the line (depending on direction). If the price continued further, I entered a 2nd trade. As it is scalping, I set my TP to between 5 and 10 pips only.
The results were amazing! I traded 6 pairs, resulting in 59 trades, of which 2 were minor losers, and 1 break even. They were only losers because I closed the trades due to taking too long, and a possible direction change. The break even was due to the same reason. This however was on a demo account. I did trade some of these same transactions on my OANDA live account, which resulted in a 27% return!!
I have attached my statement for you to have a look at. Please only look at the transactions after 13:00 - the few before that were another method. Basically, on a $2000 account, my returns today were $900 - almost 50% in one day???
DetailedStatement_1.htm
Thanks a million, and I will post more results as I get them. :-)
Stuart
ASUR,
your systems seems to be fine in starting, i am starting testing on it, Hope to get good Results
the Picture you posted shows 3 Levels of Rings, but the Indicator you posted shows 2 level of rings only
2. Can you please post what are the settings of the indicator you used and how to increase the no of rings
Waiting and Thanks in Advance
regards
Vikram Sachdeva
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