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Monthly Profit - Daily Trading using SMA

  • #9,341
  • Oct 13, 2017 12:49am Oct 13, 2017 12:49am
Quoting Philios13
{quote} Thanks for taking the time to reply Steve really appreciate it. im slowly coming around to that way of thinking myself steve. I learnt a lot from a trader who never used stops just traded tiny positions across 60 pairs I thought he was mad but a fantastic Trader. if you want to catch the trend you have to put a big net in. need to find a decent broker that will let me trade small lots Can you recommend any decent posts / users that explain market structure / pa? I’m capable of using the search ( before someone comments) but just looking...

Hi Philios,

Have you watched this video? Post #9,202

Check out his other videos on YouTube.

All I've done, over the years, is to watch what ever has taken my interest on PA, Market Structure and don't forget Zero Sum Market.

It's been these three subjects along with rejecting the typical approach to R:R Ratio that has been the biggest influences on my Trading progress.

You need to build a Trading Foundation that is relative to you.
  • #9,342
  • Oct 13, 2017 4:38am Oct 13, 2017 4:38am
Quoting jmtini
Hi guys If you really want to learn how to trade the daily chart watch this video. It's an eye-opener I promise you! https://www.youtube.com/watch?v=2x6acQ9B-Pc
Thanks a lot. That is really a great one!
(not easy to find the useful videos out there).
  • #9,343
  • Oct 13, 2017 5:45am Oct 13, 2017 5:45am
Quoting Malu
{quote} Thanks a lot. That is really a great one! (not easy to find the useful videos out there).

Thanks Malu

Yes I thought so too - having a target and knowing where the targets are I think is vital
  • #9,344
  • Oct 13, 2017 6:44am Oct 13, 2017 6:44am
Quoting jmtini
{quote} Thanks Malu Yes I thought so too - having a target and knowing where the targets are I think is vital
indeed. But I have to admit, that I had too think a few minutes about what he said to get it.
  • #9,345
  • Oct 13, 2017 8:49am Oct 13, 2017 8:49am
Quoting Oddbjorg
Hello I was waiting for a good sign for long NzdJpy to nigth. But it is almost there, but I am not so many % over 50 % sure. So ... we will see. Thank you and all the best.
SMA5 gone north.
Attached Image (click to enlarge)
Click to Enlarge Name: ny 13 10 2017 14 45.PNG Size: 170 KB
All the best to all of you. But don't follow me. I am a learner.
  • #9,346
  • Oct 13, 2017 12:05pm Oct 13, 2017 12:05pm
Quoting Oddbjorg
{quote} SMA5 gone north. {image}

Hi Oddjorg,

I don't Trade this pair and this is just my interpretation of what might happen

The 5 SMA is now turning up but it is lagging behind Price by a factor of 5.

It could continue heading up but, personally, I'd expect Price to have to drop back to pick up more Buyers and Bullish Momentum to enable it to break through the Resistance it's now encountering.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 13th Oct 17 NZD:JPY D1 Observations.png Size: 130 KB
Click to Enlarge Name: 13th Oct 17 NZD:JPY D1 Observations 2.png Size: 124 KB
  • #9,347
  • Oct 13, 2017 2:54pm Oct 13, 2017 2:54pm
Quoting stevepatt
{quote} GBP/USD Buy Trade has Triggered Moved second Pending Limit Buy up to 1.32000 RN {image}
GBP/USD D1 Long Trade Result

+200 Pips Net +1.00% Net Return
Attached Image (click to enlarge)
Click to Enlarge Name: 13th Oct 17 GBP:USD D1 Long Trade Result.png Size: 109 KB
  • #9,348
  • Oct 13, 2017 2:58pm Oct 13, 2017 2:58pm
Quoting stevepatt
USD/CAD D1 Pending Limit Sell {image}

USD/CAD D1 Limit Sell has Triggered
Attached Image (click to enlarge)
Click to Enlarge Name: 13th Oct 17 USD:CAD D1 Short Trade .png Size: 100 KB
  • #9,349
  • Oct 13, 2017 3:18pm Oct 13, 2017 3:18pm
Quoting stevepatt
{quote} AUD/USD W1 Update {image}
AUD/USD D1 Buy Trade has moved into profit
Attached Image (click to enlarge)
Click to Enlarge Name: 13th Oct 17 AUD:USD D1 Buy Trade Update.png Size: 119 KB
  • #9,350
  • Oct 13, 2017 3:20pm Oct 13, 2017 3:20pm
Quoting stevepatt
EUR/AUD D1 Pending Limit Sell {image}
I have cancelled this Pending Limit Sell.

Price took off without me, it happens.
  • #9,351
  • Oct 13, 2017 10:03pm Oct 13, 2017 10:03pm
Quoting stevepatt
{quote} Hi Oddjorg, I don't Trade this pair and this is just my interpretation of what might happen The 5 SMA is now turning up but it is lagging behind Price by a factor of 5. It could continue heading up but, personally, I'd expect Price to have to drop back to pick up more Buyers and Bullish Momentum to enable it to break through the Resistance it's now encountering. {image} {image}
Hello.
I do understand your point.
This is solely made out of Bk8 system with Bb 20,2 and Sma5, not having pending orders, but going out with taking the profit of the 1. trade after a few candles, and let the 2. trade be running, good sl, or just take it.
I really only know how to trade with this system, which is to go through the pairs on Tokyo start, but not mondays for me, and see the nature of the candles just closed.
Take a position if you are more than 50% sure or else not. No trade can also be a good trade. It can take two and three trades to recoupe from the wrong one. I know by checking back, and I can see I loose a lot of trades seen in hindsight. But that is ok.
So I did not think of S&R while doing this trade. It is of course possible to combine other skills with the Bk8 system.
(But I am on the route trying to learn and have other things going in demo with SR, trend, and diverse indicators etc., all things
learned on FF's other forums, of which I of course do not write in this thread, since it belongs to the Bk8 system)

All the best and thank you.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #9,352
  • Edited 11:52pm Oct 13, 2017 11:39pm | Edited 11:52pm
Quoting Filipo1
Nice continuation pattern (candlestick re-crossing SMA5) on USDMXN {image} {image}
Post #9267

Still flying
Attached Image (click to enlarge)
Click to Enlarge Name: 04E02DC2-AEC9-47C9-AB14-F008A22E3D72.png Size: 327 KB
I used to be indecisive but now I'm not so sure...
  • #9,353
  • Edited 11:53pm Oct 13, 2017 11:41pm | Edited 11:53pm
Quoting Filipo1
Another continuation pattern on CADJPY {image}
Post #9272
This one as well
Attached Image (click to enlarge)
Click to Enlarge Name: A1B9F3BB-3169-4C97-84B1-C8C6E7F8F54E.png Size: 420 KB
I used to be indecisive but now I'm not so sure...
  • #9,354
  • Oct 13, 2017 11:45pm Oct 13, 2017 11:45pm
Quoting Filipo1
{quote} Hi 23ray, Yes as this is the most exposed pair to US-NK tensions. Looking at the weekly chart we could have a nice evening star {image} {image}
Post #9278
We got our evening star on the weekly
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DF44952F-BA8B-4379-B0E8-E1DA05840EC2.png Size: 339 KB
Click to Enlarge Name: 1FF93FE8-3E2F-44F9-A3C5-715C6027D5D6.png Size: 357 KB
I used to be indecisive but now I'm not so sure...
  • #9,355
  • Oct 13, 2017 11:47pm Oct 13, 2017 11:47pm
Quoting Filipo1
USDZAR signal. Due to long crossing candlestick entry on retracement around 13.5950 (23.6% Fibonacci) would be less risky. Please remember trade size must adapt to S/L and not the opposite. {image} {image}
Post#9328.
Still alive and well
Attached Image (click to enlarge)
Click to Enlarge Name: 3E114559-ECF9-4E18-B8D9-4D2F184485FE.png Size: 370 KB
I used to be indecisive but now I'm not so sure...
  • #9,356
  • Oct 14, 2017 3:49am Oct 14, 2017 3:49am
Quoting Oddbjorg
{quote} Hello. I do understand your point. This is solely made out of Bk8 system with Bb 20,2 and Sma5, not having pending orders, but going out with taking the profit of the 1. trade after a few candles, and let the 2. trade be running, good sl, or just take it. I really only know how to trade with this system, which is to go through the pairs on Tokyo start, but not mondays for me, and see the nature of the candles just closed. Take a position if you are more than 50% sure or else not. No trade can also be a good trade. It can take two and three...

Hi Oddbjorg,

As your knowledge level builds it's very important to add that knowledge to Trading Bk8's Method.

It was this Post #670 in particular by Dean that highlights what I am doing.

I know, Bk8 is no longer around to give his feedback on the changes I am making to his original Method but I hope it would meet with his approval.

Just to add, it would be a good idea for everyone to go back and read Dean's posts within this thread.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 14th Oct 17 USD:CAD d1 Observations.png Size: 137 KB
Click to Enlarge Name: 14th Oct 17 AUD:USD D1 Observations.png Size: 124 KB
  • #9,357
  • Oct 14, 2017 4:16am Oct 14, 2017 4:16am
is there any mt4 coder here ready to work for free plz pm me , for the ea coding of a system as shown in my explorer

thanks
  • #9,358
  • Oct 14, 2017 4:20am Oct 14, 2017 4:20am
Quoting Filipo1
{quote} Post #9267 Still flying {image}
Hi Filipo,

What is your Spread on this and USD/ZAR Pairs?

I like to stick to the Major Pairs mainly because of the issue with Spread.
  • #9,359
  • Edited 5:29am Oct 14, 2017 4:40am | Edited 5:29am
Quoting stevepatt
{quote} Hi Filipo, What is your Spread on this and USD/ZAR Pairs? I like to stick to the Major Pairs mainly because of the issue with Spread.
Hi Stevepatt, you can see on my chart bid in grey offer in red. Personally I really don’t care about spreads looking at this strategy’s setups rewards. Spreads are scalpers’ problem not swing traders’.
I used to be indecisive but now I'm not so sure...
  • #9,360
  • Oct 14, 2017 3:19pm Oct 14, 2017 3:19pm
This is worth a watch...

Inserted Video
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