Monthly Profit - Daily Trading using SMA

Quoting Oddbjorg

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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

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Quoting netas369

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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. {image}

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Quoting Filipo1

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{quote} netas369, no one here is saying you are right or wrong in the absolute, just could someone say if you apply the strategy in the orthodox way or not but of course every one is free to adapt it. Personnally I added MACD but I kept all the rest intact otherwise it would simply be something else. Any one can do whatever is wanted/needed but then should take responsability and not say such or such strategy is inefficient when it is not adequately applied.

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Quoting Filipo1

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{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.

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Quoting netas369

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Today 2 possibilities, Eur/Cad, Eur/Aud. Eur.Cad for now signal candle is engulfing, that's the good sign of reversal, higher timeframes showing bearish signs, but overall d1 trending/ranging up. So we could catch small swing. Eur.Aud overall looks less better than cad, not a lot of signs of reversal, unless magic trendline will occur. Higher timeframes show that bullish momentum is over and it's time to bring bears in the game, but also, we could catch small swing, with small risk and small stop loss and take profit could be some profit. That would...

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Quoting netas369

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SMA will only point up if there will be another green candle that means that it is already late entry, it is engulfing candles which are already more than 50% sma is very lagging indicator, thats only my opinion, I think we need to predict the future, not the past, and sma kindly shows the past

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Quoting mikeh3855

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The up or down SMA rule was to help people figure out what "sideways" meant. If you look back at all entries you will see that the SMA doesn't turn until afterward in almost all cases.

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Quoting Filipo1

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{quote} You are totally right, then obviously this strategy is worthless

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Quoting netas369

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{quote} Worthless rule.. Strategy is good.. conclusion is that different things works for different peoples, no need to argue, disputes lead to even better ideas, lets be democratic, just saying thatin technical side ma is lagging and it cant be acurate, if it shows upward direction and if the price would go down MA would change, so..

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Quoting Oddbjorg

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{quote} Hello As for now - EA - thinking about going long..? sma is not pointing up - so I would put it on hold - and maybe wait for how it looks like next Tokyo open EC - thinking about going long..? there is only one candle, and I rarely go in if there are not 2 green candles in a row. Sma is pointing down. So I would put it on hold - and maybe wait for how it looks like next Tokyo open. But in "next Tokyo open" and trading on moday I can not say a word. I have rarely traded on mondays for months. It does not work for me. So I use the evening...

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Quoting lctrader11

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{quote} You are wiser than you give yourself credit for...and obviously patient. I hope we all pay attention to what you say. May this new year bring you many blessings

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Quoting netas369

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Before and after. Good morning, lesson for you if you already didn't knew: all indicators are lagging. Do not mess around with newbies, if they would wait that point up, they would get few signals per year. 1(bigger image) After 2nd image before {image} {image}

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Quoting jmtini

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{quote} netas, yes you are right, I think the point is of course that on the higher time frames the sma is going to take some time to point up or down after a trend change and you are quite right in saying that they are lagging. When one looks at the chart after a few days, it looks great but of course it is in hindsight and it's already history. AUDCHF is a very good example as you pointing out. I think why not use the 1 hr chart as "early warning system". I say this for everyone. If one is thinking of opening a trade based on the daily but it...

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Quoting netas369

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{quote} I can say that it is a very good idea. I was looking to overall view in higher timeframes, but in lower frames we can see more sensitive Moving Average, which will affect higher timeframe in our situation it is D1, very nice. But we have to not forget, that in any timeframe, we can see more in the price, than in MA line. Traders especially new traders have to improve themself's until they will see something more in the price than candles.

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