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Attachments: Monthly Profit - Daily Trading using SMA
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Monthly Profit - Daily Trading using SMA

Quoting BroX
{quote} Did you enter on that green cangle ( 5th one)? I did some backtesting of this strategy and had a lot of false signals. is there any method how we can avoid some false signals?
Did you add the SMA is upward sloping as condition?
the 5th green candle signal is not take because the SMA is downward slope.
USDCHF in continuation pattern after consolidation
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I used to be indecisive but now I'm not so sure...
Quoting brian661
{quote} Did you add the SMA is upward sloping as condition? the 5th green candle signal is not take because the SMA is downward slope.
Nope, but I added now this condition and again did backetesting. Looks like we miss many good opportuities for entry.
Hey guys, I was wondering if I'm the only one who trades like this on this thread. I've been a lurker for a while just trading only the best setups with my own style. Admittedly I forgot about this thread and trading this way. I've recently been just logging my views instead of trading and this method seems to work well and has a higher percentage of wins.

I didn't take this trade but I kept an eye out for it and logged it for my testing. This is my first time uploading so forgive me if the pics are bad. One image is of the weekly chart showing a heavy demand/support area from May of last year. I consider this a heavy demand area because of how fast and how big price ran away from it.

The other image is the daily chart showing a high percentage 5 SMA cross IMHO. I expect price to retreat then continue on back up to 1.35 area.
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Gentlemen always play by the rules, if they can't, they change them.
  • Post #8,845
  • Quote
  • Edited Aug 4, 2017 6:39pm Aug 3, 2017 8:33pm | Edited Aug 4, 2017 6:39pm
I will keep an eye on these pairs tomorrow. It is on the right way, but ... we will see.


Edit. 4 aug. 23:36 gmt +1
Have looked this up. But it moves so slow, that the south going is propably watered out, by the time sma5 goes down.
Well...we will see.
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All the best to all of you. But don't follow me. I am a learner.
Quoting Filipo1
USDCHF in continuation pattern after consolidation {image}
Hello.
I see now ..when you explain, I could not see that coming.
So that is something I will keep an eye on.
Thank you for your good chart and explanation.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
Quoting Oddbjorg
{quote} Hello. I see now ..when you explain, I could not see that coming. So that is something I will keep an eye on. Thank you for your good chart and explanation. Oddbj.
Hi Oddbjorg, you are welcome.
In fact Bk8 mentioned on several occasions that he would enter/re-enter each time a candlestick would cross the SMA5 in the right direction considering such configurations as continuation patterns of initial setup.
I used to be indecisive but now I'm not so sure...
AUDUSD signal
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I used to be indecisive but now I'm not so sure...
Quoting Filipo1
AUDUSD signal {image}
I understand.
I always wanted to have a overwiev ... on the different pairs...how flat ...flat is.
And about the wicks ...on the different pairs. Like sometimes a wick is long in one pair, and it does not make it flat,
as in some pairs I think not so long wicks are to be there, and then you can see, you should have thought of it as a too long wick.

Like you chart here. In other pairs ...charts you would reckon these wicks to be to often...long.

I do not know if I am right. And I know I am not good at explaining what I mean.

If this is to messy, which I come with, just forget it. I will understaind you.
...
By the way I am kind of slowgoing because of birning my fingers on eu. But it seems to come somewhat 50 pips down again.

I will just stay put and wait for stabilisation.

All the best.
All the best to all of you. But don't follow me. I am a learner.
GBPJPY is sending signal for a short setup.
BOE and NFP are behind us, "let's make some money" as a famous trader and coach named Anton use to say...

Here again it's worth mentioning the fact that the pair looks to get out of a Bollinger bands squeeze which could result into a sharp move in the new trend. Can only be seen in horizontal view:
It reminds me of the CHFJPY before the recent fall.
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I used to be indecisive but now I'm not so sure...
USDNOK I will keep an eye on this one.
Let's see what comes out from the OPEP meeting this weekend (apparently not enough).
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I used to be indecisive but now I'm not so sure...
Quoting Filipo1
GBPJPY is sending signal for a short setup. BOE and NFP are behind us, "let's make some money" as a famous trader and coach named Anton use to say... Here again it's worth mentioning the fact that the pair looks to get out of a Bollinger bands squeeze which could result into a sharp move in the new trend. Can only be seen in horizontal view: It reminds me of the CHFJPY before the recent fall. {image} {image}
How big is your stop loss in that trade? Looks like its well over 200?????
Gentlemen always play by the rules, if they can't, they change them.
Quoting Filipo1
USDNOK I will keep an eye on this one. Let's see what comes out from the OPEP meeting this weekend (apparently not enough). {image}
Hello looks good.
Not that I have the skill to explain or really understand it. But in the old days in the thread, when people wrote about Nok pairs, they allways mentioned spread was a proplem.

Well all the best. See you monday evening 21 00 gmt +1

Thank you.

Oddbj.
All the best to all of you. But don't follow me. I am a learner.
Quoting Bsmile44
{quote} How big is your stop loss in that trade? Looks like its well over 200?????
Hi Bsmile44,
My stop loss is where it should be means at 147. Now if the number of pips (here 266 over the close) is large, all you need to do is to adapt the size of your trade consequently to ensure some decent risk management.
Stop loss and bid/offer spreads are not the problem*, only the size of trades compared to equity is.


* With a correct broker or preferably a bank. They won't outrageously enlarge their bid/offer spreads or kill your stops with "unfortunate" spikes. Here in Switzerland forex brokers are obliged to get a banking license and consequently be FINMA regulated. They cannot cheat you that much as fiscal paradises bucket shops use to do...
I used to be indecisive but now I'm not so sure...
Hi all. I'm newbie on forex. It seems interesting strategy. Let me join and share my trading result for the next coming weeks. Good luck to all of you then.
Interesting trading ideas

Thanks a lot
Welcome to the newcomers.
Here is my (corrected) roadmap for this week.
Happy trading to all.
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I used to be indecisive but now I'm not so sure...
Short for xauusd?
Quoting Iniezta
Short for xauusd?
Hi Iniezta,

Not yet, it closed on an important old support/resistance line leaving a long wick below the candlestick and well above the Bollinger middle band.
In addition and I mean it since it is a personal consideration and not part of BK8's original strategy, I have no confirmation from MACD.
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I used to be indecisive but now I'm not so sure...
Quoting Iniezta
Short for xauusd?
Comparing the weekly charts I largely prefer shorting XAGUSD
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I used to be indecisive but now I'm not so sure...
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