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-   -   Monthly Profit - Daily Trading using SMA (https://www.forexfactory.com/showthread.php?t=600112)

richnam Apr 1, 2019 11:14am | Post# 10761

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The dollar Index is at a resistance potentially to form head and shoulder formation.

Therefore, USD may loose value against other major currencies as per technicals. Consider that USD/CAD is at a top, EUR/USD is at a bottom.

However the market has a life of its own and may do otherwise.

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richnam Apr 2, 2019 2:16am | Post# 10762

I am out of the GBP pairs at BE. Thanks to UK house of commons.

richnam Apr 3, 2019 1:43am | Post# 10763

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Buy EUR/USD

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Buy EUR/AUD

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Short AUD/JPY

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Aia8888 Apr 3, 2019 3:35am | Post# 10764

Buy EUR/USD {image} Buy EUR/AUD {image} Short AUD/JPY {image}
can you summarize your trading results each month ?
what percentage of your monthly profit is achieved ?

richnam Apr 3, 2019 3:36am | Post# 10765

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Buy EUR/SEK

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salimc Apr 3, 2019 7:09am | Post# 10766

Buy EUR/SEK {image}
Hi,
regularly trading with this system?

richnam Apr 3, 2019 12:34pm | Post# 10767

{quote} Hi, regularly trading with this system?
yes i do

salimc Apr 3, 2019 1:33pm | Post# 10768

{quote} yes i do
The MA is 5 & 14 period? For how long you have been trading with this system?

fidolec Apr 3, 2019 1:45pm | Post# 10769

where is this system?

BataviaTrade Apr 3, 2019 3:52pm | Post# 10770

where is this system?
Maybe in post #1.

fidolec Apr 3, 2019 4:08pm | Post# 10771

Buy EUR/SEK {image}
This is not system from #1 post

BataviaTrade Apr 3, 2019 5:53pm | Post# 10772

{quote} This is not system from #1 post
I know, but this is what normally happens. A trader shares his system in post #1, and from page 2 other traders start adding tons of other indicators. Some traders call it 'evolving'.

richnam Apr 4, 2019 2:23am | Post# 10773

Guys its the system on page1. The BB is optional. so i don't use it as it distracts me.

I do not pay attention to the MAs that much. the EMAs are 10 and 20. Maybe my next post will come without indicators. The system is purely bottom and top reversal; at least the way i understand it.

richnam Apr 4, 2019 2:25am | Post# 10774

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Short CHF/JPY

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salimc Apr 4, 2019 2:30am | Post# 10775

Guys its the system on page1. The BB is optional. so i don't use it as it distracts me. I do not pay attention to the MAs that much. the EMAs are 10 and 20. Maybe my next post will come without indicators. The system is purely bottom and top reversal; at least the way i understand it.
correct. no need of rsi.

richnam Apr 4, 2019 2:46am | Post# 10776

The system is a top and bottom entry system. So I pay attention to PA at the top and bottom.

I am interested in positions at the top or bottom that are kind to my account. Positions that allow me risk 2% with a potential reward of 4% at least. but i leave a small fraction (1/4) of the initial position for 6%.

The MAs are lagging indicators and if you rely solely on them, you may be late in the game and the risk requirement then will be more than 2%. Trading the PA at the top affords me to risk 2% while increasing my lot size. It gives me the luxury of entering a position on a pair twice sometimes (now this is against the rule books you will find in the market) but it works for me as long as i keep to the plan.

I use the MAs for managing trades i am already in but not for deciding when to take one.

It works for me and my schedule. It may not work for others.

Advantages of 1:3 risk reward is I have to loose 3 times to wipe out a profit made from from 1 previous trade. So out of the 5 trades posted, I only need to win 2. Winning 3 is a bonus.

richnam Apr 4, 2019 2:51am | Post# 10777

Finally to add,

I use to wait for trends in forex. But this market hardly trend and when it does, you have to wait for the right moment (a pull back). Sometimes a pull back may be a reversal. The forex market ranges more than it trends.

So there are plenty opportunities with the system.

richnam Apr 4, 2019 2:58am | Post# 10778

{quote} correct. no need of rsi.
Like I said i use indicators only for confirmation bias. The rsi with divergence. But PA at the top is the key. If the PA is right, I am good irrespective of what the indicators are doing.

Oddbjorg Apr 4, 2019 5:08am | Post# 10779

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Hello
Hope all is well
EURCHF looks like an interresting pair
Take care
Oddbjørg
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hakucaleno Apr 6, 2019 2:40am | Post# 10780

Short CHF/JPY {image}
Sir, lermit me to say that you are totally not following this system.

You are going by different rules & negating the thread rules.


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