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Monthly Profit - Daily Trading using SMA

  • #9,801
  • Feb 12, 2018 11:31am Feb 12, 2018 11:31am
I took these one today EG
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  • #9,802
  • Feb 13, 2018 7:16am Feb 13, 2018 7:16am
Quoting 9jatrader
Great thread. Glad to see thread on using Bollinger Bands. But where is the starter. Some questions for him to answer
I thought I ansrered this post - but now I can't find it - so here it comes:
Hello - nice having you. I have been reading on you thread with interrest.

BK8 and f.ex. Ghibli have not been around for quite a while.

The thread is still in its original form of strategy I think, added with some ingrediences BK8 would say ok to, I beleive.
The good thing is - that the atmosphere is positive - and communication is edifying.

There are some profs around - so we still learn on this thread.
So if you have questions, just go on and ask for the asnwers.
I am sure they will give a good reply.

All the best.
Oddbjorg.
All the best to all of you. But don't follow me. I am a learner.
  • #9,803
  • Feb 13, 2018 10:20am Feb 13, 2018 10:20am
Quoting amirhaq
hi to all my account balance is 1125$ in real account any one help share with me sma indicator and setting please i m newbie .... plz share sma indcator and setting ... i dnt have goood sma incatr plz plz share indi and setting .... thanx sorry for my bad english
Stay out of the market with your live account if you're asking these type of questions. Look after your capital and don't trade with your live account now, rather use a demo.
  • #9,804
  • Feb 13, 2018 11:16am Feb 13, 2018 11:16am
Well my advise would be slightly different. Most of the forex brokers entice newbies to start trading forex by telling them to just trade on demo to get started. So they start by demo trading and quickly double/triple their account balance and they think "wow, this is easy!" so they fund a live account and we all know what happens next!

So far better IMHO to trade your live account so that you are experiencing live trading conditions which are so very different from trading on demo. But ONLY trade the smallest micro lots. Like 0.01 a pip. With a $1000 plus balance that's very small risk but at least you're trading the REAL market

Anyway that's my tuppence worth
  • #9,805
  • Feb 13, 2018 11:25am Feb 13, 2018 11:25am
It depends on what you do with the demo trading account. If you use the demo trading account to see how profitable you can be, you'll be hooked by brokers. Use the demo account to learn a simple trading system and strategy, and become a master of it. That's what I will humbly recommend.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #9,806
  • Feb 13, 2018 12:18pm Feb 13, 2018 12:18pm
Quoting jmtini
Well my advise would be slightly different. Most of the forex brokers entice newbies to start trading forex by telling them to just trade on demo to get started. So they start by demo trading and quickly double/triple their account balance and they think "wow, this is easy!" so they fund a live account and we all know what happens next! So far better IMHO to trade your live account so that you are experiencing live trading conditions which are so very different from trading on demo. But ONLY trade the smallest micro lots. Like 0.01 a pip. With a...
You can as well buy your car; jump into the driver seat without learning how to drive. Get into express way. Before you come back your spirit would have left left
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -49.6%
  • #9,807
  • Feb 13, 2018 12:20pm Feb 13, 2018 12:20pm
Quoting KeenPips
It depends on what you do with the demo trading account. If you use the demo trading account to see how profitable you can be, you'll be hooked by brokers. Use the demo account to learn a simple trading system and strategy, and become a master of it. That's what I will humbly recommend. Trade safe and prosper. KP
Great mind, great post. Many use demo wrongly
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -49.6%
  • #9,808
  • Feb 13, 2018 12:23pm Feb 13, 2018 12:23pm
Thanks mate.

KP

Quoting 9jatrader
{quote} Great mind, great post. Many use demo wrongly
Do your homework, follow the footprints of smart money
  • #9,809
  • Feb 13, 2018 12:27pm Feb 13, 2018 12:27pm
Quoting 9jatrader
{quote} You can as well buy your car; jump into the driver seat without learning how to drive. Get into express way. Before you come back your spirit would have left left

Sounds logical however it's easy to drive an automatic on a salt pan with not another car in sight which is what demo trading is like. Trading a live account is trading under completely different trading conditions and a completely different mindset is required.

I've been trading for many years and I also thought that I had the next greatest system and it works so well on demo but try trading it live!!

That is why is far better to cut your teeth trading a live account IMHO anyway
  • #9,810
  • Feb 13, 2018 12:33pm Feb 13, 2018 12:33pm
Quoting jmtini
{quote} Sounds logical however it's easy to drive an automatic on a salt pan with not another car in sight which is what demo trading is like. Trading a live account is trading under completely different trading conditions and a completely different mindset is required. I've been trading for many years and I also thought that I had the next greatest system and it works so well on demo but try trading it live!! That is why is far better to cut your teeth trading a live account IMHO anyway
Would you judge it wise to you first live account to know :1 What is Forex
2. What is S/R, ans how price reacts to them 3. Above all to learn and backtest strategy and find that which has the high probability.
Would you recommend such even for your enemies???
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -49.6%
  • #9,811
  • Feb 13, 2018 12:33pm Feb 13, 2018 12:33pm
Quoting KeenPips
Thanks mate. KP {quote}
KeenPips

There is a whole long thread on this issue. Maybe good for you to read it first OK?

Start here: https://www.forexfactory.com/showthr...77#post6563677
  • #9,812
  • Feb 13, 2018 12:35pm Feb 13, 2018 12:35pm
Quoting 9jatrader
{quote} Would you judge it wise to you first live account to know :1 What is Forex 2. What is S/R, ans how price reacts to them 3. Above all to learn and backtest strategy and find that which has the high probability.

See my post above. I am not going into any further debate on this issue.

END OF STORY!!
  • #9,813
  • Edited 12:52pm Feb 13, 2018 12:37pm | Edited 12:52pm
Hi @jmtini I don't think either @9jatrader or I believe that a trader should spend years on demo and use the demo as a yardstick for success. You use the demo to develop and master a system/strategy and master it first. Then trade it on a live account, beginning with micro live account. That's the route to long-term success as long as the trader has enough capital to trade each day; i.e. not rushing for instant profit which would blow the account fast but saving the trading capital long enough to gain skill and experience live trading.

Trade safe and prosper.

KP

Quoting jmtini
{quote} Sounds logical however it's easy to drive an automatic on a salt pan with not another car in sight which is what demo trading is like. Trading a live account is trading under completely different trading conditions and a completely different mindset is required. I've been trading for many years and I also thought that I had the next greatest system and it works so well on demo but try trading it live!! That is why is far better to cut your teeth trading a live account IMHO anyway
Do your homework, follow the footprints of smart money
  • #9,814
  • Feb 13, 2018 1:57pm Feb 13, 2018 1:57pm
Hello friends
No trade for me.
The rather strong E and the rather weak U are always tempting.
But no, I will stay put - it is not that obvious to me that it will run long.
The likeable sma5 curve is lacking.
All the best.
Oddbjørg
All the best to all of you. But don't follow me. I am a learner.
  • #9,815
  • Feb 13, 2018 2:06pm Feb 13, 2018 2:06pm
Forgot the chart
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All the best to all of you. But don't follow me. I am a learner.
  • #9,816
  • Feb 13, 2018 2:20pm Feb 13, 2018 2:20pm
Hi everyone, I just took this continuation setup on AUDJPY after the new crossing candlestick.
Happy trading.
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I used to be indecisive but now I'm not so sure...
  • #9,817
  • Feb 13, 2018 2:26pm Feb 13, 2018 2:26pm
Quoting Filipo1
Hi everyone, I just took this continuation setup on AUDJPY after the new crossing candlestick. Happy trading. {image}
You mean long position. It's trap on strong support. It's just at the bottom of bears. scary
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -49.6%
  • #9,818
  • Feb 13, 2018 2:30pm Feb 13, 2018 2:30pm
Quoting 9jatrader
{quote} You mean long position. It's trap on strong support. It's just at the bottom of bears. scary
Hi 9jatrader, at first glance you are right it looks a bit bold but taking some perspective on the weekly not really in fact.
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I used to be indecisive but now I'm not so sure...
  • #9,819
  • Feb 13, 2018 2:39pm Feb 13, 2018 2:39pm
Setups work at its best when formed on sideways/consolidation
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -49.6%
  • #9,820
  • Feb 13, 2018 2:49pm Feb 13, 2018 2:49pm
Quoting 9jatrader
Setups work at its best when formed on sideways/consolidation
Well Bk8 always insisted on avoiding sideways like the plague. Are the 4 candlesticks enough to be labeled sideways price action? I don’t think so.
I used to be indecisive but now I'm not so sure...
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