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Monthly Profit - Daily Trading using SMA

  • #9,161
  • Sep 26, 2017 11:19pm Sep 26, 2017 11:19pm
Seems to have signal for SHORT, what do you think?


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  • #9,162
  • Sep 27, 2017 12:32am Sep 27, 2017 12:32am
Hello, thanks for sharing this. I am new to forexfactory and forex entirely. Your strategy looks impressive. I will like to ask questions if you don't mind. For example, if I am in a sell position already , and the candle closes above the sma. Would I stop my buy trade and enter for the new signal?
  • #9,163
  • Sep 27, 2017 1:32am Sep 27, 2017 1:32am
Quoting vAmZaI
Seems to have signal for SHORT, what do you think? {image}
Yes and supported on hourly

I'm still in EURUSD guys
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  • #9,164
  • Sep 27, 2017 1:59am Sep 27, 2017 1:59am
Quoting Scube1990
Hello, thanks for sharing this. I am new to forexfactory and forex entirely. Your strategy looks impressive. I will like to ask questions if you don't mind. For example, if I am in a sell position already , and the candle closes above the sma. Would I stop my buy trade and enter for the new signal?
My undertstanding is (refering to rules on page 1) that you would set your SL refering to the candle before the signal candle has formed. So regarding to your question: I wouldn't close it until that SL was triggered even that following candle moves above SMA.
But maybe there are other optinions on that?
  • #9,165
  • Sep 27, 2017 3:36am Sep 27, 2017 3:36am
Quoting vAmZaI
Seems to have signal for SHORT, what do you think? {image}
Thanks vAMZaI, for showing. Looks nice and good, indeed.
  • #9,166
  • Sep 27, 2017 5:13am Sep 27, 2017 5:13am
Quoting Malu
{quote} Thanks vAMZaI, for showing. Looks nice and good, indeed.

GBPCAD - Sorry everyone but looks like an MM trap again!!

GBP recovery. It does bear out my advice to only enter when the candles have crosssed central BB line and a clear change of momentum has taken place. Like EURUSD (see image above)

I'm a GBPJPY and GBPAUD fan and it's interesting to see how the banks moved the price down to look for liquidity and then quickly shot the price up (buying up )
It's the usual business model - as long as one understands the process, one can capitalise on it
  • #9,167
  • Sep 27, 2017 5:52am Sep 27, 2017 5:52am
Quoting jmtini
{quote} GBPCAD - Sorry everyone but looks like an MM trap again!! GBP recovery. It does bear out my advice to only enter when the candles have crosssed central BB line and a clear change of momentum has taken place. Like EURUSD (see image above) I'm a GBPJPY and GBPAUD fan and it's interesting to see how the banks moved the price down to look for liquidity and then quickly shot the price up (buying up ) It's the usual business model - as long as one understands the process, one can capitalise on it
I have to admit that you could be right. Thanks for repeating it. Should watch the video again.
However, I try to lear learn steadily. So great if such experienced trader are not tired of reminding.
  • #9,168
  • Sep 27, 2017 4:29pm Sep 27, 2017 4:29pm
Quoting jmtini
{quote} GBPCAD - Sorry everyone but looks like an MM trap again!!
Whats a "MM trap"?

Rules say "Stay away from sideways range", which GBPCAD clearly was at that time (and still is).

Also see examples:
http://www.forexfactory.com/showthre...17#post9162217
  • #9,169
  • Sep 27, 2017 10:12pm Sep 27, 2017 10:12pm
Is GBPCHF a potential setup. THE sma5 is pointing down very nicely.
It has been testing a sweet spot for the past month
  • #9,170
  • Sep 28, 2017 1:23am Sep 28, 2017 1:23am
Quoting mw108
{quote} Whats a "MM trap"? Rules say "Stay away from sideways range", which GBPCAD clearly was at that time (and still is). Also see examples: http://www.forexfactory.com/showthre...17#post9162217

"market maker" another word for the major banks who basically move the market. "MM trap" = when they manipulate the price to appear to move in a certain direction but in actual fact they are simply looking for liquidity (accumulation). Please watch that video above, it really helps to understand the process
  • #9,171
  • Sep 28, 2017 3:15am Sep 28, 2017 3:15am
Quoting jmtini
{quote} GBPCAD - Sorry everyone but looks like an MM trap again!! GBP recovery. It does bear out my advice to only enter when the candles have crosssed central BB line and a clear change of momentum has taken place. Like EURUSD (see image above) I'm a GBPJPY and GBPAUD fan and it's interesting to see how the banks moved the price down to look for liquidity and then quickly shot the price up (buying up ) It's the usual business model - as long as one understands the process, one can capitalise on it
Indeed it stop out. By the way how do you determine whether it is an MM trap?
  • #9,172
  • Sep 28, 2017 3:40am Sep 28, 2017 3:40am
Quoting vAmZaI
{quote} Indeed it stop out. By the way how do you determine whether it is an MM trap?

That is a good question! You know the safest way to determine it is definitely at change of trading sessions Asian/Franfurt - Frankfurt/London - London/New York
I prefer the early morning (UK time) ones but the afternoon session change can also produce some strong moves of course.

Looking at GBPJPY as a good example, I've marked these areas. Generally the accumulation/liquidity hunt is going to be against the main trend although not always! But generally it is. To get the main trend I use the 1 hour chart and the template (below) with 200 ema to ascertain the sentiment/trend which in the case of GBPJPY is up.

The present down move is against the trend and I'm willing to bet that it's an attempt by the big boys to gain liquidity and we'll see a nice strong upmove in the next few hours!!
Attached Image (click to enlarge)
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  • #9,173
  • Sep 28, 2017 4:18am Sep 28, 2017 4:18am
Quoting jmtini
{quote} That is a good question! You know the safest way to determine it is definitely at change of trading sessions Asian/Franfurt - Frankfurt/London - London/New York I prefer the early morning (UK time) ones but the afternoon session change can also produce some strong moves of course. Looking at GBPJPY as a good example, I've marked these areas. Generally the accumulation/liquidity hunt is going to be against the main trend although not always! But generally it is. To get the main trend I use the 1 hour chart and the template (below) with 200...
Thanks, I was having the same question. I understand that small trader like us have to figure out what the SM is doing! At least we have to try tro figure ist out...
Would you agree that the liquidtity hunt occurs at common market points like: round numbers, resistance/support levels, Fib Levels and so on (the points where retail Traders have placed the orders)?
  • #9,174
  • Sep 28, 2017 4:35am Sep 28, 2017 4:35am
Quoting candyman752
Is GBPCHF a potential setup. THE sma5 is pointing down very nicely. It has been testing a sweet spot for the past month
GBPCHF is sideways = Avoid. Also it didn't cross SMA yesterday. Looked like a potential setup 2 days ago. But was still ranging and SMA didn't point down at that time.

Quoting jmtini
{quote} "market maker" another word for the major banks who basically move the market. "MM trap" = when they manipulate the price to appear to move in a certain direction but in actual fact they are simply looking for liquidity (accumulation). Please watch that video above, it really helps to understand the process
I don't think the video is more "true" than all the other "truth" videos out there. Some blame the evil Brokers, other blame evil HFT industry, other blame evil Banks. So who is at fault now?

In the case of GBPCAD, the setup simply didn't fit into the established rules.
  • #9,175
  • Sep 28, 2017 4:43am Sep 28, 2017 4:43am
Quoting Malu
{quote} Thanks, I was having the same question. I understand that small trader like us have to figure out what the SM is doing! At least we have to try tro figure ist out... Would you agree that the liquidtity hunt occurs at common market points like: round numbers, resistance/support levels, Fib Levels and so on (the points where retail Traders have placed the orders)?
Oh yes I think you're quite right. A couple of days ago one can see clearly where they took out sell orders around 150.00 on GBPJPY - went down to 149.74 and then shot up again!

I think GBP pairs are probably going to remain bearish until NY session starts - then we'll see
  • #9,176
  • Sep 28, 2017 7:09am Sep 28, 2017 7:09am
Quoting mw108
{quote} GBPCHF is sideways = Avoid. Also it didn't cross SMA yesterday. Looked like a potential setup 2 days ago. But was still ranging and SMA didn't point down at that time. {quote} I don't think the video is more "true" than all the other "truth" videos out there. Some blame the evil Brokers, other blame evil HFT industry, other blame evil Banks. So who is at fault now? In the case of GBPCAD, the setup simply didn't fit into the established rules.
Oh boy here we go again. Another "know it all"!

My friend, you didn't watch the video did you? No one is blaming anyone. We cannot ignore the way the big banks manipulate the market. If we do, we will simply join the 95% of retail traders who don't make it and are consistently on the losing side of the trade.

Looking at GBP pairs this morning, the large player business model was predictable and we in fact did predict it. Others may have been caught.

Do your own thing at your own peril. That's all I have to say to you. If you think you have a better way that has consistently worked over a number of years, please do enlighten us. Thank you
  • #9,177
  • Edited 8:40am Sep 28, 2017 7:51am | Edited 8:40am
Quoting jmtini
{quote} Another "know it all"!
I find it funny how you tease me to "know it all" while at the same time you claim to know it all for yourself. And also how you get pissed off because I disagree with you.

If you look at the charts of indexes, futures, stocks or cryptos you can see the same wicks and spikes all over the place. And I doubt banks are looking for "liquidity" in indexes-, futures-, stock- or crypto-markets.

Some years ago those spikes were the evil brokers "Stop hunting". Then a little later it was the evil HFT industry manipulating the market and now it is banks "looking for liquidity". Nothing new.

Also you seem to not have digged a bit deeper. These guys who made that video claim that "95%" lose money because they were taught the same techniques. And if you look on their website you see what they teach and sell: Those same techniques everyone else teaches too, Fibonacci, S&R, Retracements ... Oh the irony.

But yea, go ahead and blame the banks and pay some guys $69 per month or the "early bird special" $179 per quarter deal if this makes you feel better. But don't forget to always wear your tinfoil hat when trading, because the government has developed mind reading devices in collaboration with reptile humanoid aliens from Mars.
  • #9,178
  • Sep 28, 2017 9:12am Sep 28, 2017 9:12am
I am really grateful that jmtini pointed my nose on that topic (SM). He convinced me, and now I am having another view on many charts.
So please let’s discuss controversial but with respect.
As I am still a learner in the FX market I am happy for any advice.
We also should stick to the topic of this thread as I still believe that this approach could work.
  • #9,179
  • Sep 28, 2017 9:53am Sep 28, 2017 9:53am
Quoting Malu
As I am still a learner in the FX market I am happy for any advice.
Most important advice: Don't believe anyone claiming to know (or selling) "the truth". There are way too much factors influencing the price of an asset, there is simply no absolute "truth" in the financial markets.
  • #9,180
  • Sep 28, 2017 10:30am Sep 28, 2017 10:30am
Quoting mw108
{quote} Most important advice: Don't believe anyone claiming to know (or selling) "the truth". There are way too much factors influencing the price of an asset, there is simply no absolute "truth" in the financial markets.
Fair point. Thanks.
I know that. Believe me !
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