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

Bk8 Jul 26, 2016 12:40am | Post# 1

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I am sharing the simplest strategy for stress free day trading, I have ever seen anywhere else

Indicators

  1. SMA 5,0
  2. BB (Optional)

Time Required - Just 15 minutes daily after D1 close when new candle starts.

Avoid

  1. Lower timeframe charts, even H4 is not reliable.
  2. Risk - Do not take positions more than 5% of account value and do not take multiple positions of same currency (Max 2), even setup is 100% correct
  3. Sideways pattern, see below

(Updated on 17-Dec-2016)

  1. Long - SMA line in upward direction
  2. Short - SMA line in downward direction
  3. Ignore - Flat SMA line


Entry

  1. Long - When previous D1 bull candle's body has clearly crossed SMA and did not touch BB upper band.
  2. Short - When previous D1 bear candle's body has clearly crossed SMA and did not touch BB lower band.

Please refer #4572 for some examples http://www.forexfactory.com/showthre...17#post9162217

Stop Loss

  1. high(+15 Pips)/low(-15 Pips) of previous candle, if candle is too short then you may move to T-2 candle.

Take Profit/Exit

 

  1. Take 2 positions of same setup, and close the first setup after taking profit on same day and leave the another setup to run forever
  2. Keep moving SL for second setup as per S&R
  3. You may exit when candle touches/cross BB top/bottom line.
  4. You may exit from second position if you have minimum 3 candles profit as part of 1:3 strategy.
  5. Must Exit on breakeven if setup goes in opposite direction.


I request all of you to try and share your results regardless positive or negative, here is why

  1. Traders will be motivated when they see your positive results
  2. Traders will stay away if they see your negative results
  3. Suppose all traders try this strategy, it will force setup to follow the direction we want
  4. we will be helping traders who were never profitable
  5. we will be helping retired/jobless person to make money
  6. we will be helping new traders to survive in the market and list goes on...

You may try this strategy on old charts, Good luck!


Disclaimer : USE OF THIS THREAD/SUGGESTIONS AT YOUR OWN DISCRETION AND RISK AND YOU WILL BE SOLELY RESPONSIBLE FOR ANY LOSS!
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Bk8 Jul 26, 2016 12:47am | Post# 2

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Bk8 Jul 26, 2016 12:47am | Post# 3

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Bk8 Jul 26, 2016 12:49am | Post# 4

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Bk8 Jul 26, 2016 12:50am | Post# 5

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Bk8 Jul 26, 2016 12:53am | Post# 6

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SkipperC Jul 26, 2016 4:32am | Post# 7

Few questions
1. What purpose is the bol bands used for
2. Are you also using parabolic sar
3. Is your stop loss the high/low of the previous days candle
Thanks

s1mm014 Jul 26, 2016 7:30am | Post# 8

Is it me or are your stop losses a long way from your entry?

Bk8 Jul 26, 2016 7:44am | Post# 9

@Skipper - Please see below
1. I use Bollinger Bands to determine whether I should take profit or stay
2. No, SAR is just for trend but I do not use it.
3. Thats correct

Bk8 Jul 26, 2016 7:48am | Post# 10

@s1mm014 - Normally I add 10-15 pips to high/low of previous candle or pick other candle if previous candle is too small.

s1mm014 Jul 26, 2016 7:55am | Post# 11

Yeah so on that GBPUSD trade you went short at under 1.31505 and the stop loss was up at 1.33645 ish? If you were to increase your position size would you not need a pretty hefty account to cope with that sort of potential drawdown?

laikos Jul 26, 2016 8:07am | Post# 12

Guys, I have been trading for last 2 years, used almost all known strategies but lost 90% of my all accounts Finally, I am profitable for last 6 months. Here is my very simple strategy Daily trading only... even 4H is not reliable Indicators - SMA (5,3) and Bollinger Bands Buy/Sell - When previous candle bar has clearly crossed SMA line Stoploss - Previous candle bar Profit - Min 3 Candles Chances - 80% {image}
Hi BK8,
I really like D1 trade, because it is low touch,however I have questions:
1. Will you please mark using vertical line where you enter the trade?
2. Previous Candle does it includes the wick or just the body?

Thanks & Regards

anonymousey Jul 26, 2016 8:19am | Post# 13

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Nice to see some-one else trading this system. I only use the halftrend indicator & CCI candles, with SL 2 daily candles back. Otherwise pretty much the same.
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Hoffi4201 Jul 26, 2016 8:29am | Post# 14

Nice to see some-one else trading this system. I only use the halftrend indicator & CCI candles, with SL 2 daily candles back. Otherwise pretty much the same. {image}
Whats your Moving Average setting ?

edit: ok, sry didn't read, Half trend indicator

anonymousey Jul 26, 2016 8:32am | Post# 15

{quote} Whats your Moving Average setting ?
halftrend indi' set on 3.

anonymousey Jul 26, 2016 8:39am | Post# 16

@s1mm014 - Normally I add 10-15 pips to high/low of previous candle or pick other candle if previous candle is too small.

Hoffi4201 Jul 26, 2016 9:59am | Post# 17

{quote} halftrend indi' set on 3.
What is the setting for CCI candles ?

Bk8 Jul 26, 2016 10:38am | Post# 18

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Profit so far 125 pips
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Bk8 Jul 26, 2016 10:43am | Post# 19

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Profit so far - 180 pips
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Bk8 Jul 26, 2016 10:46am | Post# 20

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Profit so far - 140 pips
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xoxo12 Jul 26, 2016 10:46am | Post# 21

Nice to see some-one else trading this system. I only use the halftrend indicator & CCI candles, with SL 2 daily candles back. Otherwise pretty much the same. {image}
can you upload your indicators here

Bk8 Jul 26, 2016 11:10am | Post# 22

{quote} Hi BK8, I really like D1 trade, because it is low touch,however I have questions: 1. Will you please mark using vertical line where you enter the trade? 2. Previous Candle does it includes the wick or just the body? Thanks & Regards
Hi laikos,
I have uploaded some more screenshots, let me know if that does not help. I use MT4 on iPhone.
Also I prefer to include wick of previous candle for stoploss.

s1mm014 Jul 26, 2016 12:01pm | Post# 23

Thanks for these. So if I understand your method correctly did you (or would you) have shorted AUDCAD when the candle opened on the 17th July? The candle on the 16th clearly passes through the SMA as a sell signal on this day?

Bk8 Jul 26, 2016 1:03pm | Post# 24

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Thanks for these. So if I understand your method correctly did you (or would you) have shorted AUDCAD when the candle opened on the 17th July? The candle on the 16th clearly passes through the SMA as a sell signal on this day?
Yes, I have multiple accounts.. I just double checked it should be 15th Jul
But I do not spend more than 10% so I opted to sell NZD instead, please attached screenshot
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Bk8 Jul 26, 2016 1:19pm | Post# 25

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Bk8 Jul 26, 2016 1:33pm | Post# 26

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Few more from other accounts
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Bk8 Jul 26, 2016 1:35pm | Post# 27

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rajkumar3192 Jul 26, 2016 1:43pm | Post# 28

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good and clear rules to follow .. may i know whats the max draw down of this system till now . and you told sma 3 and 5 but your chars shows only 1 sma .
and what will be your idea for this circled area
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bcmaggs Jul 26, 2016 1:55pm | Post# 29

Hi Raj,

I agree with you. KISS is always best.

If I am not mistaken its SMA 5 with shift of 3.

Correct me if I am wrong Bk8.

Regards

Bk8 Jul 26, 2016 2:04pm | Post# 30

good and clear rules to follow .. may i know whats the max draw down of this system till now . and you told sma 3 and 5 but your chars shows only 1 sma . and what will be your idea for this circled area {image}
@Raj - @bcmaggs is right, I have only one SMA (Period - 5, Shift -3).
Normally I ignore small candle but if I do not find better opportunity then I take risk with small candle too.
To be honest with you, I am still learning..thats why I tried to experiment something unique during BREXIT and lost all previous profits but recovering very fast now..
I think there is no short cut formula for long term profits. So I decided to trade on D1 chart only and spend 10% max of account value.

rajkumar3192 Jul 26, 2016 2:05pm | Post# 31

Hi Raj, I agree with you. KISS is always best. If I am not mistaken its SMA 5 with shift of 3. Correct me if I am wrong Bk8. Regards
will check it out . and thanks for your conformation regarding the settings of sma ,

rajkumar3192 Jul 26, 2016 2:07pm | Post# 32

{quote} @Raj - @bcmaggs is right, I have only one SMA (Period - 5, Shift -3). Normally I ignore small candle but if I do not find better opportunity then I take risk with small candle too. To be honest with you, I am still learning..thats why I tried to experiment something unique during BREXIT and lost all previous profits but recovering very fast now.. I think there is no short cut formula for long term profits. So I decided to trade on D1 chart only and spend 10% max of account value.
thanks and how many trades a day you take and do you have any take profit levels

Romax Jul 26, 2016 3:36pm | Post# 33

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{quote} thanks and how many trades a day you take and do you have any take profit levels

Confirm the entry?
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olvus Jul 26, 2016 3:52pm | Post# 34

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{quote} can you upload your indicators here
Here are indicators from screen showed in post #13
In CCI ind set period 14 and oversbough 1 oversold -1 (maybe other - try to open UJ daily chart and choose the parameters so that the picture in your terminal will be coincided with the picture on the screenshot)
I want to wish success to thread creator, but i cant believe that this can be successful in lоngterm. If it were that simple - buy candle above sma3, sell candle below sma3 - we all could be like a Soros in few years. Like 1000`s other trend strategies it can be profitable in trending period and lose in ranging period.
HalfTrend-1.02.mq4
CCI CustomCandles2_alerts.mq4

xoxo12 Jul 26, 2016 4:31pm | Post# 35

{quote} Here are indicators from screen showed in post #13 In CCI ind set period 14 and oversbough 1 oversold -1 (maybe other - try to open UJ daily chart and choose the parameters so that the picture in your terminal will be coincided with the picture on the screenshot) I want to wish success to thread creator, but i cant believe that this can be successful in lоngterm. If it were that simple - buy candle above sma3, sell candle below sma3 - we all could be like a Soros in few years. Like 1000`s other trend strategies it can be profitable...
thanks

Bk8 Jul 26, 2016 5:06pm | Post# 36

{quote} thanks and how many trades a day you take and do you have any take profit levels
Depends on my account value but not more than 4-5 pairs

Bk8 Jul 26, 2016 5:08pm | Post# 37

{quote} Confirm the entry? {image}
Looks good, only concern is long wick.. so little risk there

Bk8 Jul 26, 2016 5:10pm | Post# 38

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This screenshot is to explain how I keep moving my stoploss every day
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Bk8 Jul 26, 2016 5:16pm | Post# 39

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Here is the best example of stoploss, this is only pair ditched me this week.. but I will let it trigger stoploss inspite of SMA corss
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Bk8 Jul 26, 2016 5:19pm | Post# 40

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Profit - 150 pips so far
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