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Monthly Profit - Daily Trading using SMA

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  • Post #1
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  • First Post: Edited Dec 17, 2016 11:42pm Jul 26, 2016 12:40am | Edited Dec 17, 2016 11:42pm
  •  Bk8
  • Joined Jan 2015 | Status: Member | 1,533 Posts
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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  • Post #2
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  • Jul 26, 2016 12:47am Jul 26, 2016 12:47am
  •  Bk8
  • Joined Jan 2015 | Status: Member | 1,533 Posts
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  • Post #3
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  • Jul 26, 2016 12:47am Jul 26, 2016 12:47am
  •  Bk8
  • Joined Jan 2015 | Status: Member | 1,533 Posts
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  • Post #4
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  • Jul 26, 2016 12:49am Jul 26, 2016 12:49am
  •  Bk8
  • Joined Jan 2015 | Status: Member | 1,533 Posts
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  • Post #5
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  • Jul 26, 2016 12:50am Jul 26, 2016 12:50am
  •  Bk8
  • Joined Jan 2015 | Status: Member | 1,533 Posts
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  • Post #6
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  • Jul 26, 2016 12:53am Jul 26, 2016 12:53am
  •  Bk8
  • Joined Jan 2015 | Status: Member | 1,533 Posts
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  • Post #7
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  • Jul 26, 2016 4:32am Jul 26, 2016 4:32am
  •  SkipperC
  • | Joined Jun 2016 | Status: Junior Member | 1 Post
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
 
 
  • Post #8
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  • Jul 26, 2016 7:30am Jul 26, 2016 7:30am
  •  s1mm014
  • | Joined Jul 2016 | Status: Member | 9 Posts
Is it me or are your stop losses a long way from your entry?
 
 
  • Post #9
  • Quote
  • Edited at 8:02am Jul 26, 2016 7:44am | Edited at 8:02am
  •  Bk8
  • Joined Jan 2015 | Status: Member | 1,533 Posts
@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
 
 
  • Post #10
  • Quote
  • Edited at 8:03am Jul 26, 2016 7:48am | Edited at 8:03am
  •  Bk8
  • Joined Jan 2015 | Status: Member | 1,533 Posts
@s1mm014 - Normally I add 10-15 pips to high/low of previous candle or pick other candle if previous candle is too small.
 
 
  • Post #11
  • Quote
  • Jul 26, 2016 7:55am Jul 26, 2016 7:55am
  •  s1mm014
  • | Joined Jul 2016 | Status: Member | 9 Posts
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?
 
 
  • Post #12
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  • Jul 26, 2016 8:07am Jul 26, 2016 8:07am
  •  laikos
  • | Joined Oct 2015 | Status: Member | 123 Posts
Quoting Bk8
Disliked
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}
Ignored
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
 
 
  • Post #13
  • Quote
  • Jul 26, 2016 8:19am Jul 26, 2016 8:19am
  •  anonymousey
  • | Additional Username | Joined May 2016 | 128 Posts
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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Without having an understanding of down, you can never appreciate up.
 
 
  • Post #14
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  • Jul 26, 2016 8:29am Jul 26, 2016 8:29am
  •  Hoffi4201
  • Joined Jan 2014 | Status: Member | 258 Posts
Quoting anonymousey
Disliked
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}
Ignored
Whats your Moving Average setting ?

edit: ok, sry didn't read, Half trend indicator
DAX Return This Year: -17.2%
 
 
  • Post #15
  • Quote
  • Jul 26, 2016 8:32am Jul 26, 2016 8:32am
  •  anonymousey
  • | Additional Username | Joined May 2016 | 128 Posts
Quoting Hoffi4201
Disliked
{quote} Whats your Moving Average setting ?
Ignored
halftrend indi' set on 3.
Without having an understanding of down, you can never appreciate up.
 
 
  • Post #16
  • Quote
  • Jul 26, 2016 8:39am Jul 26, 2016 8:39am
  •  anonymousey
  • | Additional Username | Joined May 2016 | 128 Posts
Quoting Bk8
Disliked
@s1mm014 - Normally I add 10-15 pips to high/low of previous candle or pick other candle if previous candle is too small.
Ignored
Without having an understanding of down, you can never appreciate up.
 
 
  • Post #17
  • Quote
  • Jul 26, 2016 9:59am Jul 26, 2016 9:59am
  •  Hoffi4201
  • Joined Jan 2014 | Status: Member | 258 Posts
Quoting anonymousey
Disliked
{quote} halftrend indi' set on 3.
Ignored
What is the setting for CCI candles ?
DAX Return This Year: -17.2%
 
 
  • Post #18
  • Quote
  • Jul 26, 2016 10:38am Jul 26, 2016 10:38am
  •  Bk8
  • Joined Jan 2015 | Status: Member | 1,533 Posts
Profit so far 125 pips
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  • Post #19
  • Quote
  • Jul 26, 2016 10:43am Jul 26, 2016 10:43am
  •  Bk8
  • Joined Jan 2015 | Status: Member | 1,533 Posts
Profit so far - 180 pips
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  • Post #20
  • Quote
  • Jul 26, 2016 10:46am Jul 26, 2016 10:46am
  •  Bk8
  • Joined Jan 2015 | Status: Member | 1,533 Posts
Profit so far - 140 pips
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