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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Edward. this site is really fantastic.
I'd like to extend the original method of using COG.
If you entered to trade, but market is going against you can make second trade with double lot size after you are going -(10~15) PIPs each time. Only you must make sure to have enough margin. This is very dangerous but profitable, because you can achieve biggest lot size when market is turn. I play with real account (with very dangerous leverage 1:400) and get 300$ gain from 450$ original account only in 1 week.
Once more be very careful.
Hrach
Thank you, Hrach.
The only thing I would do, when doubling after a losing trade is to make sure I'm going to trade with a trend, suggested by COG or any other indicator.
Regards,
Edward
Hi KATA,
You've done everything according to the rules.
The system didn't worked in your favor because there was a sharp turn in the market, which COG was late to adjust to... or may be it was actually an uptrend all the time? and you just needed to check the higher time frame: 30 min or hourly, where you'd need to keep COG indicator as well.
I realize that it doesn't saves the situation, I don't like to lose a trade after trade too, but have you used a proper money management even while demo trading? Blowing an account in just two weeks is a way too quick result. A streak of losing trades can happen to anyone anytime and you have to make sure that you can survive it with your account being in the right shape to continue trading.
Take an average stop loss that you had and multiply it by 10 losing trades, after that see if your account survived the hit.
Again, it was a fault on the COG's side, and then it repainted itself while you were left with losses to cope with, but you have to adjust, evaluate and survive it next time.
Regards,
Edward
Hi Stuart and PatrickB:
I just stumbled on this forum by chance and noticed that you are both from Belgium. Also being from Belgium, I would very much like to communicate with you about this system and Forex in general. You can contact me at: areaganamerican@yahoo.com
Blessings,
Eddy
Hi Edward,
I'm Bharat and I'm the one you sent some MT4 MACD indicators to recently, many thanks for that. I have a question with reference to your response to Kata on Page 9, where you have mentioned that one must check the trend with a higher TF (30 min. or 1 hour). My question is: in checking this, is one looking for the COG lines in the same direction in the higher TF when compared to the 5 min. TF, OR, is one looking for the latest trend in the higher TF? For example, today I noticed, in the 5 min TF of EUR/USD, the COG lines are going down, while in the 30 min. TF, overall they are going UP but since the morning, for several hours, the latest trend within the 30 min TF is going down..... same is th case in the 1 hr. TF, th COG lines are UP but since the morning the latest trend is down. So, is one looking to compare the latest trend in the higher TFs or actually the direction of the COG lines itself? So, if one is looking for latest trend, and the latest trend in the higher TFs is the same as the direction of the COG lines in 5 min. TF, is that fine to then trade in the 5 min. TF in the direction of the COG lines (with all other rules of course). Pls. advise.
Tks,
Bharat
hi edward.
i'm kata. thanks for your response. on my real account i have a pretty good money management system. on those demo accounts i was trying another trading method too. but from now on i will check higher timeframes.
and sorry for my late response but i was in the hospital for the past week and no internet there :) only pills
Can somebody send me the file mt4 format in a way that the only thing i need to do is put it in mi indicator pleaseeeeeeeeeee
I also think if you traded the better EURO and GBP pairs, this system as originally used by the author will work in the London session beginning aka the London rush I had this semi automated meaning that i get a pop up/audible alert when a sweetspot is hit then i decide whether or not to take the trade. it then will put on a 25 pip TP and SL at opposite levels so i can trade quicker on more pairs. and It has adjustable start and stop times too. will see how it goes
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