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Monthly Profit - Daily Trading using SMA

  • #9,621
  • Dec 28, 2017 11:44pm Dec 28, 2017 11:44pm
New in my basced today i hope will go well to much rejection out there
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  • #9,622
  • Dec 29, 2017 2:56am Dec 29, 2017 2:56am
Quoting mizi123
New in my basced today i hope will go well to much rejection out there {image}
Also on board against chf, on aud/chf. Hope goes well !
  • #9,623
  • Dec 29, 2017 4:51am Dec 29, 2017 4:51am
Quoting mizi123
New in my basced today i hope will go well to much rejection out there {image}
Hi mizi123, maybe but we could see a few more zigzags before getting out of the rising wedge.
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I used to be indecisive but now I'm not so sure...
  • #9,624
  • Dec 29, 2017 5:00am Dec 29, 2017 5:00am
Quoting netas369
{quote} Also on board against chf, on aud/chf. Hope goes well !
Hi netas369, not sure I got you right. Do you mean buying AUD against CHF? It looks the former uptrend has lost all its momentum and that we could soon see a reversal
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I used to be indecisive but now I'm not so sure...
  • #9,625
  • Dec 29, 2017 5:08am Dec 29, 2017 5:08am
Quoting Filipo1
{quote} Hi netas369, not sure I got you right. Do you mean buying AUD against CHF? It looks the former uptrend has lost all its momentum and that we could soon see a reversal {image} {image}
You got me right, you are right it's loosing momentum, hope so this will continue, now it's kinda ranging and don't know to which side it should go
  • #9,626
  • Dec 29, 2017 5:12am Dec 29, 2017 5:12am
If this pair will continue the movement, probably will be pretty nice signal, it has aaa lot of space to move up
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  • #9,627
  • Dec 29, 2017 5:15am Dec 29, 2017 5:15am
Quoting netas369
If this pair will continue the movement, probably will be pretty nice signal, it has aaa lot of space to move up {image}
Agreed.
I used to be indecisive but now I'm not so sure...
  • #9,628
  • Dec 29, 2017 5:19am Dec 29, 2017 5:19am
and I have one question about this part

(Updated on 17-Dec-2016)

  1. Long - SMA line in upward direction
  2. Short - SMA line in downward direction
  3. Ignore - Flat SMA line

He meant that line should be after signal candle close ? But it sounds kinda dumb, because ma is lagging indicator, so it shouldn't change anything just make entry later

  • #9,629
  • Dec 29, 2017 5:27am Dec 29, 2017 5:27am
Quoting netas369
and I have one question about this part (Updated on 17-Dec-2016) Long - SMA line in upward direction Short - SMA line in downward direction Ignore - Flat SMA line He meant that line should be after signal candle close ? But it sounds kinda dumb, because ma is lagging indicator, so it shouldn't change anything just make entry later
Look at this one below with the red arrow. Does it look dumb for you?
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I used to be indecisive but now I'm not so sure...
  • #9,630
  • Dec 29, 2017 6:19am Dec 29, 2017 6:19am
So basically my entry isn't right ?

I did some backtest, well it's not that dumb at all I can say
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  • #9,631
  • Dec 29, 2017 6:48am Dec 29, 2017 6:48am
No I think you are correct. That entry looks as good as any. Watching the SMA slope is easy afterward but at the time of reversal, which is essentially this type of trade, the SMA will look questionable.

Been watching this method since the start. I am tending to believe what Oddborg said. It's like watching paint dry but "it works".

Thanks to all who have kept it alive and for BK8's patience in explaining it all.
  • #9,632
  • Dec 29, 2017 7:38am Dec 29, 2017 7:38am
Isn't this strategy was used only take trades when candle clearly crosses both Ma 5,0 and 5,3 ? Looks good to me
  • #9,633
  • Dec 29, 2017 7:48am Dec 29, 2017 7:48am
Quoting mikeh3855
No I think you are correct. That entry looks as good as any. Watching the SMA slope is easy afterward but at the time of reversal, which is essentially this type of trade, the SMA will look questionable. Been watching this method since the start. I am tending to believe what Oddborg said. It's like watching paint dry but "it works". Thanks to all who have kept it alive and for BK8's patience in explaining it all.
Hi mikeh3855, I am afraid short entry from configuration shown in post nr. 9630 is not correct according to thi strategy.
I used to be indecisive but now I'm not so sure...
  • #9,634
  • Dec 29, 2017 7:53am Dec 29, 2017 7:53am
Quoting netas369
Isn't this strategy was used only take trades when candle clearly crosses both Ma 5,0 and 5,3 ? Looks good to me
Hi netas369, why can't you keep it simple but in no way stupid? sma 5,3 has been abandonned as was already largely commented. This thread is getting heavy now and no one could expect any trader to read it all. Bk8 did all he could to keep it clear and simple, all you have to do is just read and apply what is in post nr.1 which was updated in due time by its author.
I can't understand traders saying they can't make money with it, it is so simple! If they fail they should in my opinion not question the strategy but the trader, his/her probable lack of discipline, patience and consequently his/her excess of fear and greed.
Nevertheless as for any strategy it is required to be familiar with main price action configurations (S/R lines etc...) including candlesticks patterns.
I used to be indecisive but now I'm not so sure...
  • #9,635
  • Dec 29, 2017 7:57am Dec 29, 2017 7:57am
Quoting Filipo1
{quote} Hi netas369, why can't you keep it simple but in no way stupid? sma 5,3 has been abandonned as was already largely commented. This thread is getting heavy now and no one could expect any trader to read it all. Bk8 did all he could to keep it clear and simple, all you have to do is just read and apply what is in post nr.1 which was updated in due time by its author. I can't understand traders saying they can't make money with it, it is so simple! If they fail they should in my opinion not question the strategy but the trader, his/her probable...
With PA Im familiar pretty much, I want to say thank you, I need little bit more discipline some times, call me stupid next time, lol, thanks !

And I read 250 + pages of the thread, then it started to be noisy and worthless, even BK8 for some reason after few years started changing the strategy so I eventually stopped reading
  • #9,636
  • Dec 29, 2017 8:07am Dec 29, 2017 8:07am
Filipo!,

The entry for AUDCHF looks OK to me. You say no but no explanation. There is no previous sideways movement. Yes SMA5 shift 0 has been in use for a long time. This is the MA being used.
Maybe you can explain why you would not take the trade. Especially with that pin poking up screaming reversal?

Mike
  • #9,637
  • Dec 29, 2017 8:11am Dec 29, 2017 8:11am
Without all that, today will close weekly chart pin bar.
Everyone trading style is different, we can't say "you trading wrong, sir", because that's his style, we all know in forex that we can get clear rules to follow but everyone will use that rules different.
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  • #9,638
  • Dec 29, 2017 8:15am Dec 29, 2017 8:15am
Quoting mikeh3855
Filipo!, The entry for AUDCHF looks OK to me. You say no but no explanation. There is no previous sideways movement. Yes SMA5 shift 0 has been in use for a long time. This is the MA being used. Maybe you can explain why you would not take the trade. Especially with that pin poking up screaming reversal? Mike
mikeh3855, again please do your homework, read, re-read and re-read post nr.1 . Then it will be crystal clear that it is not a good entry. Why? You have a bearish candlestick crossing the sma 5,0 BUT this latter is NOT pointing downward (yet). Maybe it will after today's close then you can enter. Patience is important before entering and before closing.
I used to be indecisive but now I'm not so sure...
  • #9,639
  • Dec 29, 2017 8:16am Dec 29, 2017 8:16am
Hello
From post:
https://www.forexfactory.com/showthr...6#post10624936

I am closing down for the weekend and New Year, so I will snap it.
ChY 37 pips
UCh 47 pips

I whish you all a blessed 2018 and wish to say thanks for 2017.

Thank you.

Oddbjørg
All the best to all of you. But don't follow me. I am a learner.
  • #9,640
  • Dec 29, 2017 8:18am Dec 29, 2017 8:18am
Quoting Filipo1
{quote} mikeh3855, again please do your homework, read, re-read and re-read post nr.1 . Then it will be crystal clear that it is not a good entry. Why? You have a bearish candlestick crossing the sma 5,0 BUT this latter is NOT pointing downward (yet). Maybe it will after today's close then you can enter. Patience is important before entering and before closing.
Let's say we have a cross, then we wait for new candle to open, then mostly MA changes its direction so if it points upwards or downwards we take the position if the ma still didnt changed to our direction or is flat, we don't take the trade, am I right ?
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