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i took these trades today. The one with check mark. The rest are carried from Yesterday.
I put all my trades on 20 pips trailing stop. Based on my conversation with FXCM agent, they told me the Trailing SL is server side thing.
Just FYI and help need if anyone knows:
I trade using FXCM Trade Station mobile but I use MT4 Mobile to see the chart because I do not know how to do SMA(5,3) on Trade Station Mobile.
Quoting CoachMe
{quote} using this method (sma5,3) any idea for gbpjpy today ? thank you
Little late since it was formed on 25th July but has good chances until it reversed and cross SMA.
amazing how people change the rules without even trying the original rules first......

after all Bk8 has been trading like this for months and has a 80% success rate.
Quoting laikos
{image}i took these trades today. The one with check mark. The rest are carried from Yesterday. I put all my trades on 20 pips trailing stop. Based on my conversation with FXCM agent, they told me the Trailing SL is server side thing. Just FYI and help need if anyone knows: I trade using FXCM Trade Station mobile but I use MT4 Mobile to see the chart because I do not know how to do SMA(5,3) on Trade Station Mobile.
Good start, lets stick to this strategy, please keep following in mind
1. Do not close until setup triggers Stoploss itself or cross outer BB or min 3 candles profit.
2. Do not take risk more than 10% of total account, 3% is safe though.
Good morning Bk8, What do you think about using RSI and MACD in order to filter possible bad trade ? Yes, 200EMA will also do.
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Jakepuia
Quoting Bk8
{quote} Good start, lets stick to this strategy, please keep following in mind 1. Do not close until setup triggers Stoploss itself or cross outer BB or min 3 candles profit. 2. Do not take risk more than 10% of total account, 3% is safe though.
hi Bk8, what a great tutor !
what pair did you usually trade ?
Beginners Luck
I do not follow strictly but Some senior traders give importance to BB middle line as well..e.g. in this case we can set take profit to middle line for one position incase middle line acts as resistance
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Quoting goldieboy
{quote} hi Bk8, what a great tutor ! what pair did you usually trade ?
Thanks for your kind words.. I do not have any prefernce as such.. I am using SMA and BB for last 6 months.
Quoting Jakepuia
Good morning Bk8, What do you think about using RSI and MACD in order to filter possible bad trade ? Yes, 200EMA will also do. {image}
GM Jakepuia..Sorry I tried all of them but did not find them consistent so I did not explore much .. I would suggest you to go through chart and find out yourself.. I wanted to develop a EA to test this startegy but later I reliazed that it would be dificult to include all other moving factors e.g. If there is no trend SMA cross is useless or previous candle has too long wick etc..
Quoting Bk8
{quote} BB - 20, 0,2 I use BB for exist purpose only. I do not have MT4 on desktop will try to install this weekend.
Thanks Bk8! Looking forward to the screenshot.
RisingSun
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Hi Bk8,
Thanks for the valueable advice, I have not used Bolinger Band till you mentioned it is for TP. What are setting for the Bolinger Band?
Hi Bk8! Thanks for your sharing!
Sorry, I don't understand your TP rule. Could you rephrase it and show on chart?
Thank you!
Quoting laikos
{image}Hi Bk8, Thanks for the valueable advice, I have not used Bolinger Band till you mentioned it is for TP. What are setting for the Bolinger Band?
Quoting Bk8
{quote} BB - 20, 0,2 I use BB for exist purpose only. I do not have MT4 on desktop will try to install this weekend.
Quoting RisingSun
{quote} Quoting Bk8 {quote} BB - 20, 0,2 I use BB for exist purpose only. I do not have MT4 on desktop will try to install this weekend.
Thanks RisingSun, shame on me miss that one out.
Quoting Bk8
I do not follow strictly but Some senior traders give importance to BB middle line as well..e.g. in this case we can set take profit to middle line for one position incase middle line acts as resistance {image}
Who ​are these senior traders who "give importance" to the 20 sma?
Quoting laikos
{quote} Thanks RisingSun, shame on me miss that one out.
NP laikos. It happens...
RisingSun
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Hello right now I have these open trade . I wanted to know how to manage your positions ?
Hello Bk8, your system looks good and simple. However, I want to be clear on something; do you enter at the open of the New candle or wait for retrace to enter? This question comes after going thru the first few charts you posted. Thanks for sharing
Quoting fxdonchris
Hello Bk8, your system looks good and simple. However, I want to be clear on something; do you enter at the open of the New candle or wait for retrace to enter? This question comes after going thru the first few charts you posted. Thanks for sharing
I enter when new candle opens, since I keep my positions open for many days so some of my screenshots may be little confusing.
Quoting Bk8
Profit - Min 3 Candles
Sorry, what does it mean?
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Nayirus