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Monthly Profit - Daily Trading using SMA

  • #9,241
  • Oct 4, 2017 2:54pm Oct 4, 2017 2:54pm
Quoting Malu
{quote} Fully agreed. I know I am new here, too , but would also appreciate if we could stick to the setup of BK8 (see page 1). Thanks.
Don’t. It doesn’t work. You need more of an edge than just following the rules in post #1
So many in the Commercial section want to make me rich! :o
  • #9,242
  • Oct 4, 2017 3:41pm Oct 4, 2017 3:41pm
What about this set up on the AJ? would this be a valid entry?
Attached Image (click to enlarge)
Click to Enlarge Name: cT_cs_10038121_AUDJPY_2017-10-04_14-35-36.png Size: 52 KB
Just trying to put a kiss on the cheek of success
  • #9,243
  • Oct 4, 2017 3:50pm Oct 4, 2017 3:50pm
and this one?
Attached Image (click to enlarge)
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Just trying to put a kiss on the cheek of success
  • #9,244
  • Oct 4, 2017 4:12pm Oct 4, 2017 4:12pm
AUD/USD D1 Pending Limit Buy
Attached Image (click to enlarge)
Click to Enlarge Name: 4th Oct 17 AUD:USD D1 Pending Limit Buy.png Size: 101 KB
  • #9,245
  • Edited Oct 5, 2017 1:15am Oct 4, 2017 4:28pm | Edited Oct 5, 2017 1:15am
Quoting Filipo1
Dear traders, it is great that everyone can freely express his/her convictions on a forum like this one. Equally important to my perception is the fact that we try to stick to the fundamentals of the original strategy on which this thread is based to keep some coherence if you agree. This thread is essentially about trading setups on the daily charts which can certainly as already discussed on several occasions be refined using the hourly chart to enter in position under the most auspicious conditions. The initiator of this thread also developed...

Hi Filipo,

I guess this is directed at me, and that's fine.

All the setups I have posted here have been based on the D1 TF and Price closing above/below the 5 SMA.

I don't use the BB, BK8 stated in his first post that BB where optional.

I enter my Trades using Pending Limit Orders mostly at Whole and Half Numbers sometimes at the previous Candles High/Low (see AUD/USD Chart above)

This means I am entering my Trades at better Value.

I haven't read the whole thread but what I have read different things have been tried to optimise Trade Entry.

I've been posting H1 Charts to get into the detail and structure of the D1 Candle, I don't use the H1 Chart for my Entry.

If you think what I am doing is disrupting the thread I will leave it's no problem.
  • #9,246
  • Oct 4, 2017 5:31pm Oct 4, 2017 5:31pm
Hello
No new trade for me. Just holding on EG from start of the week. Will take trade 1 now, and sl 15 on no. 2.
All the best to all of you.
Thanks.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #9,247
  • Oct 4, 2017 11:12pm Oct 4, 2017 11:12pm
Quoting stevepatt
{quote} If you think what I am doing is disrupting the thread I will leave it's no problem.
I guess that is not the intention. Great that you explained that you stick to the rules but trying to optimize the entry. I had the same issue with some of my trades. So I suppose everyone is happy to discuss timing of entry too. At least me.
  • #9,248
  • Oct 5, 2017 12:55am Oct 5, 2017 12:55am
Quoting FX-Flux
{quote} Don’t. It doesn’t work. You need more of an edge than just following the rules in post #1

Absolutely right! Totally agreed - people are losing money hand over fist simply following the rules in post#1

You can't divorce the 1 hour chart from the daily chart as two different systems. They have to compliment one another.
  • #9,249
  • Oct 5, 2017 1:55am Oct 5, 2017 1:55am
Quoting jmtini
{quote} Absolutely right! Totally agreed - people are losing money hand over fist simply following the rules in post#1 You can't divorce the 1 hour chart from the daily chart as two different systems. They have to compliment one another.
I don‘t want to explain myself here, but just to get it right: I am not that naiv to think just to stick to rules mentioned on page 1 is the holy grail.
All I wanted to say is thatt this could be the basis of finding a potential trade. I agree that you have to use 1h , or as I do 15 min charts either.
So happy to learn from you.
  • #9,250
  • Oct 5, 2017 4:19am Oct 5, 2017 4:19am
Just went SHORT with GBPCAD, seem a little late, hopefully it goes well

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  • #9,251
  • Oct 5, 2017 4:35am Oct 5, 2017 4:35am
Quoting FX-Flux
{quote} Don’t. It doesn’t work. You need more of an edge than just following the rules in post #1
One slight correction if I may: it doesn’t always work.
This one did since end of August and it is not an exception
Attached Image (click to enlarge)
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I used to be indecisive but now I'm not so sure...
  • #9,252
  • Oct 5, 2017 4:39am Oct 5, 2017 4:39am
CHFJPY on watch as it is trying to break out of the range and below BB middle band
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I used to be indecisive but now I'm not so sure...
  • #9,253
  • Oct 5, 2017 4:51am Oct 5, 2017 4:51am
maybe you should be learning from stevepratt , one of the best pa traders on forex factory,
he has been trading for a long time. and knows how to read the pa, just look at his charts!
the only reason I read this thread is that if stevepratt was trading this way it had to be good.
  • #9,254
  • Edited 7:24am Oct 5, 2017 5:29am | Edited 7:24am
Interesting study for sociologists. It looks like social networking is impacting FF.
I am not a follower nor a leader and hopefully never will
I used to be indecisive but now I'm not so sure...
  • #9,255
  • Oct 5, 2017 5:43am Oct 5, 2017 5:43am
Quoting Filipo1
Interesting study for sociologists. It looks like social networking is impacting FF. I am no follower nor leader and hopefully never will
LOL, did I say I was trading this way or just reading the thred?
  • #9,256
  • Oct 5, 2017 4:30pm Oct 5, 2017 4:30pm
Quoting stevepatt
AUD/USD D1 Pending Limit Buy {image}
AUD/USD D1 Buy Trade Triggered but continued to fall and todays Candle closed below the 5 SMA and yesterdays Lows.

I hope the chart below explains my plan of action.
Attached Image (click to enlarge)
Click to Enlarge Name: 5th Oct 17 AUD:USD D1 Pending Sell Trade.png Size: 478 KB
  • #9,257
  • Oct 5, 2017 4:50pm Oct 5, 2017 4:50pm
Quoting stevepatt
{quote} AUD/USD D1 Buy Trade Triggered but continued to fall and todays Candle closed below the 5 SMA and yesterdays Lows. I hope the chart below explains my plan of action. {image}
Hello
Could it be because the first green candle had a rather large wick?
But I may see this wrong.
Thank you
Oddbj.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_2418.PNG Size: 230 KB
All the best to all of you. But don't follow me. I am a learner.
  • #9,258
  • Oct 5, 2017 9:30pm Oct 5, 2017 9:30pm
Quoting stevepatt
{quote} AUD/USD D1 Buy Trade Triggered but continued to fall and todays Candle closed below the 5 SMA and yesterdays Lows. I hope the chart below explains my plan of action. {image}
MACD can help to figure out
Attached Image (click to enlarge)
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I used to be indecisive but now I'm not so sure...
  • #9,259
  • Oct 5, 2017 9:39pm Oct 5, 2017 9:39pm
Quoting Filipo1
{quote} MACD can help to figure out {image}
Agree. I used it a lot now with BK8 strategy. Millions thanks to BK8 and Filipo1
  • #9,260
  • Oct 6, 2017 1:02am Oct 6, 2017 1:02am
Quoting Oddbjorg
{quote} Hello Could it be because the first green candle had a rather large wick? But I may see this wrong. Thank you Oddbj. {image}

Hi Oddbjorg,

AUD crosses where down, pretty well, across the board yesterday.

I think this was, at least partly, down to the AUD "Retail Sales m/m" being worse than expect yesterday.

The Buying at 0.78000, for now, has been consumed this is evident from the Bullish Wicks.

I should have taken this into consideration.
Attached Image (click to enlarge)
Click to Enlarge Name: 6th Oct 17 AUD:USD D1 Observations.png Size: 107 KB
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