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Monthly Profit - Daily Trading using SMA

  • #8,661
  • Jun 22, 2017 10:11am Jun 22, 2017 10:11am
Quoting kski
{quote} 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


For weekly trade setup, the trade trigger chart will be H4. Just sit tight and wait patiently.
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  • #8,662
  • Jun 22, 2017 10:27am Jun 22, 2017 10:27am
Quoting yanah12
{quote} For weekly trade setup, the trade trigger chart will be H4. Just sit tight and wait patiently. {image} {image}
Hello Yanah,

Thank you very much for all your efforts.
I have a question. Do you take weekly trend for reference while trading daily chart?
If so, do you let go buy signals in daily chart if weekly is down and vice versa?

Thank you
  • #8,663
  • Jun 22, 2017 10:42am Jun 22, 2017 10:42am
Quoting mayzee
{quote} 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?
Hi there

Bk8 is not around anymore. His system is good. But he insisted to keep the system clean as it was - because it worked very well and it was making lots of pips. A lot of people were constantly weeping because he did not take all their suggestions into the BK8 strategy and nobody knows what went of him, but I think he had enough of it. He were making good money, why then help people that were allways unsatisfied.

Yes it is a trend reversing system. I am brand new to it also and look forward to have it working. It is most important to stick to the rules. I accidently didnīt follow the rules at my first trades, because I was using an IPad. I was punished by being stopped out.

RiskFighter
MetaTrader 4 - so many advantages.
  • #8,664
  • Edited 4:47pm Jun 22, 2017 3:47pm | Edited 4:47pm
Quoting Burtsfolly
{quote} Cheers Bro. I would welcome the reversal indicator.
Hi Burt

See attached. The curve with the green and red dots is the one. It is a Moving Average, but calculated in a special way, which should remove some noise.

This is a screenshot. It's not allways this good, must of cause reflect the reality. My point is only - some people takes 3 bars and then close the trade while in profit. Look at this picture how much they could have gained. Others does maybe set a Take Profit at 2XSL for money management purposes and the system automatically close the trade on that point. But if the trade is running fine - then why stop it? Some use resistance - but resistance sometimes are broken. Fibo is unpredictable. Does it run to 50 or 61.8 or maybe turn around at 38.2 - or hell does it totally make a trend reversal?? You never know, you can only use statistics. It's a guess. Using a tool like this, you don't have to guess - for good or bad. Yes it is lacking. I know.

I for sure accept the methods others use. Small amount of pips very often are nice and can make you wealthy. This method however takes some of the pressure from my shoulders. I don't have to guess just as much. I only have to be on my toes for reversals, because the dot is shifting colour in a lacking maner. If the trend shift is forcefull, I might have to intervene.

The risk using this tool is then, that when the trend reversal comes, then it some times goes very fast and remove a lot of the profit. Use some other indicators like Stochastichs or MACD to help you being on guard.

AND - the tool is not reliable at ranging situations. As many trend reversions grow out of ranging situations, this tool cannot be used for identifying new setups.
I will poste a link, if anybody want it.

Regards
Mr. RiskFighter
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MetaTrader 4 - so many advantages.
  • #8,665
  • Jun 22, 2017 4:37pm Jun 22, 2017 4:37pm
Quoting RiskFighter
{quote} Hi Burt See attached. The curve with the green and red dots is the one. It is a SMA, but calculated in a special way, which should remove some noise. This is a screenshot. It's not allways this good, must of cause reflect the reality. My point is only - some people takes 3 bars and then close the trade while in profit. Look at this picture how much they could have gained. Others does maybe set a Take Profit at 2XSL for money management purposes and the system automatically close the trade on that point. But if the trade is running fine -...
Another problem I have is, that trends seems to run "forever" these days. So valid trend changing signals are to few - (I only trade FOREX). Therefore I think it is advisable to stay in a trend once you get there. Otherwise you have to move to lower timeframes, but that request for more work and does not comply to my situation with at full time job.
MetaTrader 4 - so many advantages.
  • #8,666
  • Jun 22, 2017 4:46pm Jun 22, 2017 4:46pm
Quoting yanah12
{quote} For weekly trade setup, the trade trigger chart will be H4. Just sit tight and wait patiently. {image} {image}
the exit also based on h4 chart or weekly chart?tx
  • #8,667
  • Jun 22, 2017 5:28pm Jun 22, 2017 5:28pm
Quoting RiskFighter
{quote} Hi Burt See attached. The curve with the green and red dots is the one. It is a Moving Average, but calculated in a special way, which should remove some noise. This is a screenshot. It's not allways this good, must of cause reflect the reality. My point is only - some people takes 3 bars and then close the trade while in profit. Look at this picture how much they could have gained. Others does maybe set a Take Profit at 2XSL for money management purposes and the system
automatically close the trade on that point. But if the trade is running...
if u have time please share with us ur indicator thanks!
  • #8,668
  • Jun 22, 2017 6:56pm Jun 22, 2017 6:56pm
Seems like Heiken Aishi would produce similar result. Need to put it aside by side to know for sure

Quoting RiskFighter
{quote} Hi Burt See attached. The curve with the green and red dots is the one. It is a Moving Average, but calculated in a special way, which should remove some noise. This is a screenshot. It's not allways this good, must of cause reflect the reality. My point is only - some people takes 3 bars and then close the trade while in profit. Look at this picture how much they could have gained. Others does maybe set a Take Profit at 2XSL for money management purposes and the system automatically close the trade on that point. But if the trade is running...
  • #8,669
  • Jun 22, 2017 7:05pm Jun 22, 2017 7:05pm
I had better hold my peace, since I struggle with my chf pair trades from yesterdat.
These have not yet hit sl, so I will wait. However Aud pairs seem to be ineterresting.
Even if they have been running for a while.
Thank you.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #8,670
  • Jun 22, 2017 7:31pm Jun 22, 2017 7:31pm
Quoting Oddbjorg
I had better hold my peace, since I struggle with my chf pair trades from yesterdat. These have not yet hit sl, so I will wait. However Aud pairs seem to be ineterresting. Even if they have been running for a while. Thank you. Oddbj.
0830 NY time CAD CPI m/m

that may shake things up
  • #8,671
  • Jun 22, 2017 8:14pm Jun 22, 2017 8:14pm
Quoting thor888
{quote} 0830 NY time CAD CPI m/m that may shake things up
ok thank you
All the best to all of you. But don't follow me. I am a learner.
  • #8,672
  • Jun 22, 2017 11:28pm Jun 22, 2017 11:28pm
What's happening to the markets? Hasn't been moving much since yesterday.
  • #8,673
  • Jun 22, 2017 11:45pm Jun 22, 2017 11:45pm
Quoting yanah12
{quote} For weekly trade setup, the trade trigger chart will be H4. Just sit tight and wait patiently. {image} {image}
Hello yanah, do u mind uploading ur indi, so we can take advantage of weekly /H4 setups.... Patiently waiting.. Thanks
  • #8,674
  • Jun 23, 2017 2:35am Jun 23, 2017 2:35am
Hi

Here are the indicators.

MTF Fractals

TF setting - 43200 for monthly, 10080 weekly and 1440 daily
Daily S/R will be shown on H4
Weekly S/R on daily chart
Monthly S/R on weekly chart

Magic Bars
Sky Blue = Up
Light Salmon = Down

This indicator works just like AC but a bit more precise. If the candle hasn't closed, the bar color isn't
confirmed.

Gold chart. I won't initiate a long trade yet as the daily candle is still forming. I'll wait a while longer.

Do let me know if you need other clarification.

All the best.
Attached Image (click to enlarge)
Click to Enlarge Name: XM MT4.png Size: 82 KB
Attached File(s)
File Type: ex4 MagicBars(1).ex4   3 KB | 646 downloads
File Type: ex4 MTF_Fractals.ex4   4 KB | 688 downloads
File Type: mq4 MTF_Fractals.mq4   3 KB | 666 downloads
  • #8,675
  • Jun 23, 2017 6:41am Jun 23, 2017 6:41am
Quoting Burtsfolly
{quote} FX PRO
How do they appear in MT4? Their site says .3 minimum but that can fluctuate.

Finpro says .2 minimum but im currently sitting at spreads of .12
Trade with confidence, trade without fear.
  • #8,676
  • Jun 23, 2017 6:45am Jun 23, 2017 6:45am
Quoting yanah12
Hi Here are the indicators. MTF Fractals TF setting - 43200 for monthly, 10080 weekly and 1440 daily Daily S/R will be shown on H4 Weekly S/R on daily chart Monthly S/R on weekly chart Magic Bars Sky Blue = Up Light Salmon = Down This indicator works just like AC but a bit more precise. If the candle hasn't closed, the bar color isn't confirmed. Gold chart. I won't initiate a long trade yet as the daily candle is still forming. I'll wait a while longer. Do let me know if you need other clarification. All the best. {file} {file} {file} {image}
Hi Ana,

When do you usually initiate a trade in Singapore's time?

Thanks
  • #8,677
  • Jun 23, 2017 7:04am Jun 23, 2017 7:04am
Quoting Cryptosurf
{quote} How do they appear in MT4? Their site says .3 minimum but that can fluctuate. Finpro says .2 minimum but im currently sitting at spreads of .12
Not sure what you mean on this one, but I am pretty sure that it is the Lot calculator that I downloaded from Andrew Mitchem @ The Forex Trading Coach.
It is a good tool though because all you do is Drag it on to which ever currency Pair you are trading, enter the amount of pips you need for a stop loss, it then tells you how many lots you need to risk 0.5% of your account. ( Only good for currencies though ).
  • #8,678
  • Jun 23, 2017 7:15am Jun 23, 2017 7:15am
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?
These four Pairs are down to about 1% Profit over all now. They were up 2% at one point. Exiting Trades is just as hard as entering them do you not think?
Going to see what happens after the CAD News at 13.30(GMT).
  • #8,679
  • Jun 23, 2017 7:23am Jun 23, 2017 7:23am
Quoting yanah12
Hi Here are the indicators. MTF Fractals TF setting - 43200 for monthly, 10080 weekly and 1440 daily Daily S/R will be shown on H4 Weekly S/R on daily chart Monthly S/R on weekly chart Magic Bars Sky Blue = Up Light Salmon = Down This indicator works just like AC but a bit more precise. If the candle hasn't closed, the bar color isn't confirmed. Gold chart. I won't initiate a long trade yet as the daily candle is still forming. I'll wait a while longer. Do let me know if you need other clarification. All the best. {file} {file} {file} {image}
Thank you so much yanah....u are far too kind to kind....
  • #8,680
  • Jun 23, 2017 7:37am Jun 23, 2017 7:37am
Quoting Burtsfolly
{quote} These four Pairs are down to about 1% Profit over all now. They were up 2% at one point. Exiting Trades is just as hard as entering them do you not think? Going to see what happens after the CAD News at 13.30(GMT).
Wow. That was interesting. The CAD pairs moved 40 pips in my favour in seconds after the news. Closed out for a small profit ( Only Demo ).
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