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Monthly Profit - Daily Trading using SMA

  • #8,641
  • Jun 21, 2017 11:10am Jun 21, 2017 11:10am
Quoting RiskFighter
I just shorted audusd
Looks good, shorted yesterday after candle close over the 5SMA


Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.png Size: 126 KB
Trade with confidence, trade without fear.
  • #8,642
  • Jun 21, 2017 11:39am Jun 21, 2017 11:39am
Quoting yanah12
Interesting Gold setup. Waiting patiently. {image}
Hi Yanah12,

Where can i find the Blue and Red support indicator at your chart? And the magic bar indicator?
Would you mind to share?

Thanks.
  • #8,643
  • Jun 21, 2017 11:56am Jun 21, 2017 11:56am
Quoting RiskFighter
I just shorted audusd
I have Audusd, EurAud, Eurcad n UsdCad running with good profits.
There are a few V trade setup for tomorrow trading.
  • #8,644
  • Jun 21, 2017 12:42pm Jun 21, 2017 12:42pm
Hi Folks,
I Traded 4 Pairs Yesterday.....cad/chf...eur/aud...cad/jpy...aud/chf..
They are collectively 1.75% up. I am itching to close them all out before they hit Targets or reverse.
What would you Guys do?
  • #8,645
  • Jun 21, 2017 2:21pm Jun 21, 2017 2:21pm
Hello
Keeping an eye on
Cch 75. % or Acf 65% .. ...one of them.
All the best.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #8,646
  • Jun 21, 2017 2:29pm Jun 21, 2017 2:29pm
Quoting Burtsfolly
Hi Folks, I Traded 4 Pairs Yesterday.....cad/chf...eur/aud...cad/jpy...aud/chf.. They are collectively 1.75% up. I am itching to close them all out before they hit Targets or reverse. What would you Guys do?
As I see it, the trades that are made by the members of this forum, often are trendings for quite a time because of the good setups. Hence I Think it is a shame to use TP. I let them "run forever" as Bk0 Said in his post #1.
I have an indikator which is good at giving the sign for reversal. It is worth nothing under ranging conditions and since trends often starts from ranging it is No good for giving buy signals, but it lets me run the whole Trade only giving away a bit at the end.
sitting Rights now on a fairy with only my IPad, i cannot post a screenshot. Will do so soon.
MetaTrader 4 - so many advantages.
  • #8,647
  • Jun 21, 2017 2:31pm Jun 21, 2017 2:31pm
Quoting Oddbjorg
Hello Keeping an eye on Cch 75. % or Acf 65% .. ...one of them. All the best. Oddbj.
Think you for the tips
MetaTrader 4 - so many advantages.
  • #8,648
  • Jun 21, 2017 2:55pm Jun 21, 2017 2:55pm
Quoting RiskFighter
{quote} As I see it, the trades that are made by the members of this forum, often are trendings for quite a time because of the good setups. Hence I Think it is a shame to use TP. I let them "run forever" as Bk0 Said in his post #1. I have an indikator which is good at giving the sign for reversal. It is worth nothing under ranging conditions and since trends often starts from ranging it is No good for giving buy signals, but it lets me run the whole Trade only giving away a bit at the end. sitting Rights now on a fairy with only my IPad, i cannot...
Since Bk0 disappeared 6 months ago its difficult to question him about letting a trade run forever. In reality it's more complicated then that. A trade may be heavily in profit only to see it disappear due to a price divergence. Your patience will be tested.

For me i will shoot for a 50-61.8 fib TP or trailing stop. I will also look to see if there's trouble area ahead with major SR.

If you can grow an consistent equity curve based on banking 100-150+ pips a week then you're doing better then most.

Everyone wants to hit a home run on every trade only to strike out. Loading the bases and putting points on the board one by one wins the game as well.

I tend the take the cream off the top with a larger position, book profits and then move on to the next (low hanging fruit) setup. If i see there's room for it to run, then i'll hold it longer.

As traders it is not our job to understand the whole market. Our job is to find an edge that allows us to extract $$ consistently.
Trade with confidence, trade without fear.
  • #8,649
  • Jun 21, 2017 6:21pm Jun 21, 2017 6:21pm
Quoting Cryptosurf
{quote} Since Bk0 disappeared 6 months ago its difficult to question him about letting a trade run forever. In reality it's more complicated then that. A trade may be heavily in profit only to see it disappear due to a price divergence. Your patience will be tested. For me i will shoot for a 50-61.8 fib TP or trailing stop. I will also look to see if there's trouble area ahead with major SR. If you can grow an consistent equity curve based on banking 100-150+ pips a week then you're doing better then most. Everyone wants to hit a home run on every...
OK.
MetaTrader 4 - so many advantages.
  • #8,650
  • Jun 21, 2017 9:10pm Jun 21, 2017 9:10pm
Took the trade on Gold after daily candle close. price crossed up over Daily 5SMA.

Weekly candle is forming nicely as well.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Daily.png Size: 78 KB



Candles on the right are last four weekly and monthly.
Trade with confidence, trade without fear.
  • #8,651
  • Jun 21, 2017 11:29pm Jun 21, 2017 11:29pm
Quoting Cryptosurf
Took the trade on Gold after daily candle close. price crossed up over Daily 5SMA. Weekly candle is forming nicely as well. {image} Candles on the right are last four weekly and monthly.
The Spreads for Gold seem massive with my Broker (41 pips). I presume you do not have this to contend with?.
Thanks for advice with previous, all trades are still doing well, I am just going to observe for now because only trading Demo. Could be very different if real money though!
  • #8,652
  • Jun 21, 2017 11:34pm Jun 21, 2017 11:34pm
Quoting RiskFighter
{quote} As I see it, the trades that are made by the members of this forum, often are trendings for quite a time because of the good setups. Hence I Think it is a shame to use TP. I let them "run forever" as Bk0 Said in his post #1. I have an indikator which is good at giving the sign for reversal. It is worth nothing under ranging conditions and since trends often starts from ranging it is No good for giving buy signals, but it lets me run the whole Trade only giving away a bit at the end. sitting Rights now on a fairy with only my IPad, i cannot...
Cheers Bro.
I would welcome the reversal indicator.
  • #8,653
  • Jun 21, 2017 11:35pm Jun 21, 2017 11:35pm
Quoting Burtsfolly
{quote} The Spreads for Gold seem massive with my Broker (41 pips). I presume you do not have this to contend with?. Thanks for advice with previous, all trades are still doing well, I am just going to observe for now because only trading Demo. Could be very different if real money though!
Yikes that is a bit high. I'm currently trading energy and metals exclusively with Finpro. The margins are low and spreads are pretty good.

Cheers!
Trade with confidence, trade without fear.
  • #8,654
  • Jun 22, 2017 5:54am Jun 22, 2017 5:54am
Quoting yanah12
{quote} I have Audusd, EurAud, Eurcad n UsdCad running with good profits. There are a few V trade setup for tomorrow trading.
When you take an order based on direction of W, in D TF there seems to be significant retracement(if directions are not aligned), how much SL do you have to give to tide thru? Is your SL based on weekly previous candle?

Thank you
  • #8,655
  • Jun 22, 2017 6:14am Jun 22, 2017 6:14am
Quoting Cryptosurf
{quote} Yikes that is a bit high. I'm currently trading energy and metals exclusively with Finpro. The margins are low and spreads are pretty good. Cheers!
It might just be that the Lot Calculator I use only works on currencies !
  • #8,656
  • Jun 22, 2017 8:21am Jun 22, 2017 8:21am
Quoting Burtsfolly
{quote} It might just be that the Lot Calculator I use only works on currencies !
Maybe, which broker is it?
Trade with confidence, trade without fear.
  • #8,657
  • Jun 22, 2017 9:28am Jun 22, 2017 9:28am
Quoting yanah12
{quote} I have Audusd, EurAud, Eurcad n UsdCad running with good profits. There are a few V trade setup for tomorrow trading.
What a waste for UCAD, up so many pips but one news and its almost all gone
  • #8,658
  • Jun 22, 2017 9:33am Jun 22, 2017 9:33am
Quoting Cryptosurf
{quote} Maybe, which broker is it?
FX PRO
  • #8,659
  • Jun 22, 2017 9:37am Jun 22, 2017 9:37am
Quoting Bk8
I am sharing the simplest strategy for stress free day trading, I have ever seen anywhere else
I sort of like the system, not a whole bunch different than mine which I'll be posting once I get out of "junior member" status so I can attach a PDF that fully explains the whole thing.

However it seems that your system is basically designed to look for reversals against the previous trend. Or am I missing something?
  • #8,660
  • Jun 22, 2017 9:53am Jun 22, 2017 9:53am
Quoting eguitarist
{quote} What a waste for UCAD, up so many pips but one news and its almost all gone
Yeah, that was a pretty big miss.
Trade with confidence, trade without fear.
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