Monthly Profit - Daily Trading using SMA

If possible, thank you. FS

Hello friends.
Interresting currency-pairs.

I would probably too. Oddbjørg has given more reliable hints for entries. I wouldn't even compare myself with Oddbjørg. But that was not the point anyway

Hi Oddbjørg. please let me learn.
what you look at for your decision to consider those setups 'interesting' is higher highs + higher lows, crossing of 20SMA and 5SMA pointing up, BBs starting to open... am I right? It's a beautifully clean chart! Do you look at SR levels? Do you have an CS meter running somewhere?
I admit I would have hesitated considering the already big candles and that they are way over the edge of the BBs.... but you were right
oh, another thing... where is your target? Do you have trailing stops and if so, how much air do you give them? .... is it too many details already?
Thanks. Have a great day.

Very intuitive calls Oddbjorg. Excellent movement up on the EURAUD and EURJPY. I was put off by the nearness of the top of the BB and cautioned by your thoughts on post 9583 --

* for the most part not over or on high bb

* most of the time, coming from low bb, so there is space to run

(italics mine in all cases)

Help us to understand what you saw differently with these two pairs, if possible. Of course, rules are guidelines, not absolutes . . . but it is knowing when to relax the guidance.

FS

Hi everyone, I am new here, I've read about this strategy a little and tried to apply what I've learned and this is what I did

Hello.

Forest-Sea - I will try to answer your post.
Funny enough BK8 sometimes went after a candle close to or on the upper bb. So I dare to do it a little tiny bit, if it looks like one of his old charts.
Later he doesn't use BB on his charts at all. You can see Fillipo1 neither does - so he has come further in BK8's footprints than many of us. His charts and explanations are very good and educating in this system. So study them well.
I did not mean to be misleading in my post on what I look at for the utter most part - before selling / buying.
https://www.forexfactory.com/showthr...0#post10599440
I could maybe have explained it better. I am trying my best. So sorry for that.

ET2017 - I will try to answer your post.
From the beginning I actually ate BK8's and Ghibli's charts, and still do.
https://www.forexfactory.com/search.php?searchid=251
https://www.forexfactory.com/search.php?searchid=381
Looking closely - printing them out - finding simularities between them and the actual day's charts.

I don't have any skills in indicators, MACD, RSI, FIB, SR and meters or all the emas and so on that people use.
I am not good at letting the trades run. I snap it after it has run 2 or 3 candles my way. I am not that grown up in this yet.
I don't use trailing stop. Maybe I can learn that.
I am snoozing around on FF and Youtube a bit, but these things have not sunk in yet.

ET2017 and Forest Sea.
I would like to say thanks for all the kind words.

But come on !!

I am not better than any other on the thread. I don't even know all the expressions you use.
I like this system - obviosly because this is very simple and surely the only one I know to work with.

I insist not to babysit my charts. It has to be rather obvious what to do, after 1/2 hour or so at Tokyo open, and then come back the next day. Otherwise I don't have the time for this. A lot of activities, helping people and kids.
And I think we should be grown up and confess - if we don't see a trade - not force something through. In these days there is something strange with the USD pairs.
I can't explain, but it doesn't work for me. And then I say - well Oddbjørg, if you do not see a trade just push the pause-botton untill you see one - no matter if it takes days or more.
I hope I have explained good enough, even though it is a bit childlish, I realize.

Well, I am so tired of writing about my self now, and likewise I guess everybody else is also tired of reading my post. I could not get the answers shorter.
So here it stops about me - and we will keep on learning of each other.

Take care and I can say it once more - don't follow me - I am just a learner.

All the best and good weekend

Hi Hyliozar, well done. Exactly what Et2017 had mentioned a day before and which I regret not to have followed. I still sometimes fall in the trap of trading (or not trading here) what I think when I should rather trade what I see...

Hi Oddbjørg.
thanks for your long answer. and please be assured, it was not a word too long (nor childish enough for me ). We all are learners (hopefully forever!) and it seems to be worth to learn some things from you. But don't worry, I will not copy you (or anyone) just like this (I admit, I did - though not you - and I lost big time). I need to convince myself of a trade.... but to get there, it is - again - learning.
Have a nice Weekend.

Oddbjorg --

You are too modest about your knowledge and accomplishments.

Thank you for your comprehensive answer.

I agree with you -- this thread is about learning, not copying. If one were to study what you do, and compare it to jmtini and filipo1, two other leaders here, there are distinctive differences. You have all found (slightly) different ways to be regularly successful. This, I think, is what we must all do.

A wonderful weekend to you. Hopefully it is warm someplace, although likely not in Denmark I suppose.

With very best regards, FS

I agree with all the above comments. Oddbjorg is a canny trader! Anyone who can win consistently with this strategy is good trader IMHO

It's not easy entering a trade on the daily chart and those who do and suffer the inevitable draw-downs before the trade (hopefully) turns positive deserve a lot of praise. That's my tuppence worth anyway. Filipo's hedging technique is a very good one but of course these kind of strategies require patience and fortitude both of which I possess very limited supplies of!!

Anyway, it's a interesting thread - all nice people and really enjoy to be a subscriber

Regards to all and have a great trading week

Thanks Jmtini. I like your way to look at the charts, too.

Working my way through the thread but it's a long one! Am I right in thinking that the preferred SMA is now 5 with a shift of 0 instead of a shift of 3?

Hi gvmgvm and welcome.
Yes it's right, updated post nr. 1 is what we are still following as the spine of our own strategies with personal add-ons.

Many thanks, Filipo.

Hello here are a few signals (continuation for EURNZD) I will follow and on which I will likely take positions at the opening.
Happy trading.

Hello all J,

I have already read whole thread. It is very nice to see that this place is still alive and there are also members from the beginning.

I have been playing this strategy since 12 December 2017. Now I have about -10% on my account, but I took few wrong trades. I’m using SMA 5,0 and BB 20,0,2.

I will try to write something everyday J

Please have a look on my propositions today:
-S/R levels are from W1 chart









Gold also looks nice, but it is too expensive for me.

I look forward for any response from you :-)

Regards,
D.

Hi friends as you know i like the thread and my trading method is based on something like these, so i have a contriboution i gues. As we all agree these system because is based on daily timeframes sometimes is not sweetable for traders with small accounts (what in what to divide ). Psicological effect as you know is huge when price make pullback so because of that based on my experience i do something: Let's say you have detected a signall on daily candle, so you tourn on H1 can enter saftly on candle who breaks previous support these can minimize these effect for self sabotaje, i hope is useful for all of you

My set of trades for today usd/jpy freesh you can tak it long

Several of you have taken quite successful trades which appeared to be nearing the top/bottom of a BB. I do understand that some of us have removed the BB from their charts and consideration . . . and I am beginning to consider this myself.

At least recently, these seemingly late entry trades with limited room to run have done very well.

Naturally, we have all seen price climb up the outer edge of a band for many pips, and Mr. Bollinger himself says to expect this, so no real surprise.

BK8 mentioned using the BB to determine whether to exit, or not . . . and may not have used them to determine good entry points at all.

If any of you have strong feelings about this I would appreciate hearing your thoughts. I have stayed out of several successful trades I identified but passed on due to the price versus BB location. I think I am about to flip over to removing the BB and making entry decisions based on price and SMA 5, although Oddbjorg has offered her 'checklist' of considerations recently, and these are worth our attention.

Thanks in advance to anyone who will comment on the BB on-off question.

Best to all, FS