Advanced system #14 (Simple trading with Daily range)

Thats a good idea Josh - i might start being more selective as you say; if i have to start thinking about the trend and its not immediately apparent i am going to stay away. By the way, can i ask what cog settings you are using. i have three different cogs, two re-painters and a non-repainter but boy does the non-repainter suck some memory from my laptop and i wonder whether its worth it especially as i am only using it at a very specific point in time.

scott

Hello Edward,
I'm a little confused about the COG indicator. Do you look at the COG on the 1HR charts to determine direction just before placing trades? Are you looking at price to be above the center blue line to go long or below it to go short? If you could post a chart showing how you determine direction with the COG, I would really appreciate it. A big thanks to Stuart for presenting this interesting concept. Thanks Phil

Hi Phil,

I used COG on 1 hour chart to determine trend direction.

It doesn't matter where the price is trading in relation to the blue line or any other COG's lines. Just the overall inclination of the lines at the most recent candle matters.

On the screenshot the COG tells us to focus on Selling now.
If we pretend that now is the beginning of the day and we look to place new orders, we would be biased towards Shorting EURUSD based on the hourly chart trend.

Regards,
Edward

Hi Stuart/Edward , I would like to know if I have wait until a new candle opens for the next day, so that I get the previous day close price and then fill in the excel sheet and then key in market order to go long or short.?
Secondly what would be the High, Low and close price to be taken for saturday and sunday?

Cheers
Raj

Hi all, Thanks for all this information team work is the best. I have a question is the COG the same as the Center of Gravity Oscillator?
Thanks in advance for your answer

Walter

Hi Raj,

Yes, you have to wait till a new candle opens for the next day and then take previous day data and fill in the excel file.

We don't trade on Saturday and Sunday.
For Monday trades, I believe (I'm not sure, Stuart knows it better :) we should take Friday + Saturday + Sunday data combined.

To Walter: COG stands for the Center of Gravity. It is the same indicator.

Regards,
Edward

I used the Non re-painting COG today and I took trades in that direction on 3 pairs and was +103 for the day. Good system.

Hey Josh - currently up 12 pips - lol. Got hit for -164 on gbpusd which in hindsight i should never have entered because it was flat lining anyway and i got stopped out of EURJPY for -101 but it looks like it will eventually hit its targets. Was this pair one of the ones you went with and if so how did you avoid being stopped out?

Did do however +74 GBPJPY, +29 EURGBP, +47 GBPCHF, +35 USDCHF, +49 USDJPY, +42 CADJPY.

Do you use any trend indicators in particular like the CCI or do you just use your eye and price action - I guess my real question is, on what basis did you only pick 3 of the 10 pairs?

Cheers

Scott