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Monthly Profit - Daily Trading using SMA

  • #8,881
  • Aug 9, 2017 9:48am Aug 9, 2017 9:48am
Quoting Iniezta
Thanks Filipo. Some friends told me to use trending line, but some others suggest ichimoku to identify when the trend is changing. It confused me to decide OP new trade. For the time frame case, i think i need to do some forward test on high TF to get more understanding about your system. Thanks.
You are welcome Iniezta, hope this helps.
But just to clarify things this thread's strategy is not mine, the merit fully goes to its author Bk8. I made it my central setup identifying system with some personal adjustments that's all.
I used to be indecisive but now I'm not so sure...
  • #8,882
  • Aug 9, 2017 10:20am Aug 9, 2017 10:20am
Keeping an eye on :

A Ch
C Ch

All the best.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #8,883
  • Aug 9, 2017 10:48am Aug 9, 2017 10:48am
Quoting Oddbjorg
Keeping an eye on : A Ch C Ch All the best. Oddbj.

There's been a wonderful downtrend on GBPCHF and GBPJPY last couple of days.

Unfortunately I don't have any funds to trade with right now. When I eventually do, the trends will be over of course!
  • #8,884
  • Aug 9, 2017 11:09am Aug 9, 2017 11:09am
Quoting jmtini
{quote} There's been a wonderful downtrend on GBPCHF and GBPJPY last couple of days. Unfortunately I don't have any funds to trade with right now. When I eventually do, the trends will be over of course!
No worry Jmtini, there are new opportunities nearly everey day, no need to hurry really.
This reminds me of an informal meeting with Dr. Richard Olsen (co-founder of Oanda) at a forex seminar organized by FxStreet in 2012 in Barcelona. I asked him why Oanda decided to limit its leverage to 50:1 not allowing traders to fully exploit opportunities (I still was an absolute beginner lost in the "get-rich-quick" illusory scheeme). Very kindly and as I realized later wisely too, he simply replied:
Quote
do you want to get rich slowly or poor quickly? There will always be new opportunities, take your time.
. How right he was.
I used to be indecisive but now I'm not so sure...
  • #8,885
  • Aug 9, 2017 11:10am Aug 9, 2017 11:10am
Quoting jmtini
{quote} There's been a wonderful downtrend on GBPCHF and GBPJPY last couple of days. Unfortunately I don't have any funds to trade with right now. When I eventually do, the trends will be over of course!
Yes I see what you mean.
If now low bb could move longer far down - I would think we could go in and sell - - - - if it is not to tired of red candles - - -
All the best to all of you. But don't follow me. I am a learner.
  • #8,886
  • Aug 9, 2017 3:45pm Aug 9, 2017 3:45pm
Trying a small amount. U Ch. With a nice sl.
Only 55% sure, because there is only one candle yet, and thus it can change and go long again.
We will see.
Attached Image (click to enlarge)
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All the best to all of you. But don't follow me. I am a learner.
  • #8,887
  • Aug 9, 2017 9:48pm Aug 9, 2017 9:48pm
This setup looks good....unfortunately it's very near the lower BB...
Attached Image (click to enlarge)
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  • #8,888
  • Aug 9, 2017 9:56pm Aug 9, 2017 9:56pm
Quoting fated82
This setup looks good....unfortunately it's very near the lower BB... {image}
Not only is it near the lower BB, if you look at the left side of the chart. That area also has support and is near an important round number for that pair 110.00. IMHO thats not a very high probability trade.
Gentlemen always play by the rules, if they can't, they change them.
  • #8,889
  • Aug 10, 2017 1:33am Aug 10, 2017 1:33am
Quoting fated82
This setup looks good....unfortunately it's very near the lower BB... {image}
Hi Fated82, looking from a weekly perspective we are in a descending triangle with a first support in the 108.80-109.00 range.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20170810-083009.png Size: 207 KB
I used to be indecisive but now I'm not so sure...
  • #8,890
  • Aug 10, 2017 2:00am Aug 10, 2017 2:00am
USDJPY weekly 2
On a broader scale lower support line around 105 now.
Attached Image (click to enlarge)
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I used to be indecisive but now I'm not so sure...
  • #8,891
  • Aug 10, 2017 3:29am Aug 10, 2017 3:29am
Quoting jmtini
{quote} There's been a wonderful downtrend on GBPCHF and GBPJPY last couple of days. Unfortunately I don't have any funds to trade with right now. When I eventually do, the trends will be over of course!
Hello
You will get a new chance soon. I think you are good at finding them
Have a nice day.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #8,892
  • Aug 10, 2017 3:35am Aug 10, 2017 3:35am
Quoting Filipo1
USDJPY weekly 2 On a broader scale lower support line around 105 now. {image}
Thank you, learning a lot of you posts, Fillipo.
All the best to all of you. But don't follow me. I am a learner.
  • #8,893
  • Aug 10, 2017 3:48am Aug 10, 2017 3:48am
Quoting Filipo1
USDJPY weekly 2 On a broader scale lower support line around 105 now. {image}
Great! I am contemplating if I should short this pair today...
  • #8,894
  • Edited 12:09pm Aug 10, 2017 11:00am | Edited 12:09pm
Quoting medIce
{quote} I trust my process, and my trading style. Also i know a many big players are targeting 139.000 ( Double Bottom)
Hi MedIce, it looks your process and infos on GBPJPY were correct. The pair is now breaking below the support line of the ascending triangle which happens to match SMA200 at 142 and which could trigger a few stop loss orders... I would be glad to learn a bit more about all this.
I used to be indecisive but now I'm not so sure...
  • #8,895
  • Aug 10, 2017 12:54pm Aug 10, 2017 12:54pm
I have shorted EU. So far still reluctance on going down..
  • #8,896
  • Aug 10, 2017 5:53pm Aug 10, 2017 5:53pm
Quoting ghostman10
I have shorted EU. So far still reluctance on going down..
Hello Ghostman
Can I ask why or when you took that position?
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All the best to all of you. But don't follow me. I am a learner.
  • #8,897
  • Aug 10, 2017 6:12pm Aug 10, 2017 6:12pm
Quoting Filipo1
{quote} Hi MedIce, it looks your process and infos on GBPJPY were correct. The pair is now breaking below the support line of the ascending triangle which happens to match SMA200 at 142 and which could trigger a few stop loss orders... I would be glad to learn a bit more about all this.
Thank you. I understand what both of you are writing. I do not know if this is the same case with NzdJpy?
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #8,898
  • Aug 10, 2017 8:42pm Aug 10, 2017 8:42pm
Quoting Oddbjorg
{quote} Thank you. I understand what both of you are writing. I do not know if this is the same case with NzdJpy? Oddbj.
Hi Oddbjorg, sure and even better, a trader's dream! All the JPY pairs (except CHFJPY now) are more or less in the same configuration but this one is doing the splits between RBNZ' speech and geopolitical tensions in the Pacific.
I used to be indecisive but now I'm not so sure...
  • #8,899
  • Aug 10, 2017 9:14pm Aug 10, 2017 9:14pm
USDTRY so long Major Tom!
Attached Image (click to enlarge)
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I used to be indecisive but now I'm not so sure...
  • #8,900
  • Aug 10, 2017 9:47pm Aug 10, 2017 9:47pm
Quoting Filipo1
USDTRY so long Major Tom! {image}
Why did you enter then? Didnt you enter that trade late?
Gentlemen always play by the rules, if they can't, they change them.
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