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Monthly Profit - Daily Trading using SMA

  • #9,881
  • Mar 7, 2018 6:23pm Mar 7, 2018 6:23pm
Quoting axecap
Any thoughts.....GBPJPY D1 {image}
Which Sma properties are you using...
I entered the trade anyway
  • #9,882
  • Mar 7, 2018 6:31pm Mar 7, 2018 6:31pm
Quoting Vcezeilo
{quote} Which Sma properties are you using... I entered the trade anyway
SMA 5 as per page 1...
Its all just one persons opinion
  • #9,883
  • Mar 7, 2018 6:33pm Mar 7, 2018 6:33pm
Quoting axecap
{quote} SMA 5 as per page 1...
And the shift
  • #9,884
  • Mar 7, 2018 8:57pm Mar 7, 2018 8:57pm
Quoting Vcezeilo
{quote} And the shift
0 shift....just the standard setting....
Its all just one persons opinion
  • #9,885
  • Edited Mar 8, 2018 1:28am Mar 7, 2018 10:18pm | Edited Mar 8, 2018 1:28am
Quoting axecap
Any thoughts.....GBPJPY D1 {image}
HI axecap, it looks good but yesterday's hanging man reminds us that price action is just stopped on an important S/R line.
Let's see if it will break out.
On the weekly I am worried that the rebound on trend line is not reflected in any way either on RSI remaining below 50 or MACD.
Also to consider out from this strategy’s rules:
-daily 200 sma standing close at 147.82
-JPY = Ichimoku check for me and daily price action still blocked right below Tenkan-sen.
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I used to be indecisive but now I'm not so sure...
  • #9,886
  • Mar 7, 2018 10:47pm Mar 7, 2018 10:47pm
Quoting Filipo1
{quote} HI axecap, it looks good but yesterday's hammer reminds us that price action is just stopped on an important S/R line. Let's see if it will break out. On the weekly I am worried that the rebound on trend line is not reflected in any way either on RSI remaining below 50 or MACD. {image} {image}
Thanks for your comments Filipo.....will see how it looks after the london open
Its all just one persons opinion
  • #9,887
  • Mar 8, 2018 2:45pm Mar 8, 2018 2:45pm
Hello friends,

i am a newbie to FX and this Forum.
i have to study from the basic .

i have tried to follow the rules for this strategy stated on page 1.

it said Long when the SMA pointing upward
Short SMA downwards.

then Entry should be long when bull candle crosses the SMA and vise versa

This is where I am having difficulty - looking carefully Mr BK8’s screen shots of examples - I see many example the direction of SMA and position of direction is totally opposite -
when a bull candle crosses SMA but he puts sell order
egen a bear candle crosses SMA but his screen indicates he put a buy order.

here is my question - am I missing one more ingredient in order to determine which order to put sell or buy?

i would appreciate anyone who could set me straight on my confusion. If I can figure out this point, I think I could do achieve better outcome.
thank you in advance for your kind assistance.
i haven’t seen Mr BK8’s post recently and he may not be checking ng the posts every day now.
Any experiences veteran could help my very basic confusion !
  • #9,888
  • Mar 8, 2018 3:27pm Mar 8, 2018 3:27pm
Quoting ShinjinFX
Hello friends, i am a newbie to FX and this Forum. i have to study from the basic . i have tried to follow the rules for this strategy stated on page 1. it said Long when the SMA pointing upward Short SMA downwards. then Entry should be long when bull candle crosses the SMA and vise versa This is where I am having difficulty - looking carefully Mr BK8’s screen shots of examples - I see many example the direction of SMA and position of direction is totally opposite - when a bull candle crosses SMA but he puts sell order egen a bear candle crosses...
Hi ShinjinFX, you have seen correctly. The first illustrations from Bk8 did not take into account the sma pointing up or down yet. Initially it was just about candlestick crossing the couple sma5,0 and sma5,3. Then the sma 5,0 crossing sma 5,3 was abandoned because it was filtering out too many setups that in the end turned to be profitable ones., keeping only the sma 5,0. After that occurred a series of loosing trades and Bk8 introduced the sma pointing up/down to better filter valid setups.
It is giving better results but it could possibly be refined even more. Up to every participant to try various adaptations.
All the best.
I used to be indecisive but now I'm not so sure...
  • #9,889
  • Mar 8, 2018 6:46pm Mar 8, 2018 6:46pm
CCh 55%
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All the best to all of you. But don't follow me. I am a learner.
  • #9,890
  • Mar 9, 2018 2:06am Mar 9, 2018 2:06am
Signal on EURAUD but beware the S/R and trend lines
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I used to be indecisive but now I'm not so sure...
  • #9,891
  • Mar 9, 2018 7:59am Mar 9, 2018 7:59am
Quoting Filipo1
Signal on EURAUD but beware the S/R and trend lines {image}
Hi Filipo,
may I ask what did you do with your NZDUSD trade(s) from Mar 7? Did you close them (at least 1 should have been in profit)?
Thanks.
  • #9,892
  • Mar 9, 2018 10:35am Mar 9, 2018 10:35am
Dear Philipo,

Thank you for your kind reply.
i am still missing one filter that seems to be used for a trade.

i am wondering if someone who is getting positive results could update the current stage of rules so that we newbies would not miss or use thus strategy wrong way.

My area of questions would be how to determine the direction of a trade - long or short when bull candle cross the downward SMA and a Bear candle cross the upward SMA. I am guessing here - if the bull candle had touched the bottom of BB before it reached SMA, you buy even the SMA is pointing downwards vice versa - am I wrong?

i would appreciate anyone if MR BK8 is too busy, to set me straight on my understanding of the rules hfur this system.

Thanks in advance
  • #9,893
  • Mar 9, 2018 11:45am Mar 9, 2018 11:45am
Quoting Et2017
{quote} Hi Filipo, may I ask what did you do with your NZDUSD trade(s) from Mar 7? Did you close them (at least 1 should have been in profit)? Thanks.
Hi Et2017, I am in profit on the 2nd position bought at half previous day’s range and close to break even on the first entry.
I used to be indecisive but now I'm not so sure...
  • #9,894
  • Mar 9, 2018 11:54am Mar 9, 2018 11:54am
Quoting ShinjinFX
Dear Philipo, Thank you for your kind reply. i am still missing one filter that seems to be used for a trade. i am wondering if someone who is getting positive results could update the current stage of rules so that we newbies would not miss or use thus strategy wrong way. My area of questions would be how to determine the direction of a trade - long or short when bull candle cross the downward SMA and a Bear candle cross the upward SMA. I am guessing here - if the bull candle had touched the bottom of BB before it reached SMA, you buy even the...
Hi ShinjinFX, may I suggest you to:
1) re-read carefully post nr.1 which is summarizing all the rules in a concise and clear way I guess.
2) looking carefully at an ideal type of chart as the one below.
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I used to be indecisive but now I'm not so sure...
  • #9,895
  • Mar 9, 2018 12:50pm Mar 9, 2018 12:50pm
dear Philipo1,

Thank you again for your advice.
i would try and see if I could find answers to my questions.
i did read every post but it would be worth my try to revisit the bigining again.
  • #9,896
  • Mar 9, 2018 3:34pm Mar 9, 2018 3:34pm
Quoting Oddbjorg
CCh 55% {image}
great call! I didn't trust it as it stood below the 20SMA and close to resistance.... well, once again you were right ;-)
  • #9,897
  • Mar 9, 2018 11:30pm Mar 9, 2018 11:30pm
Hi everyone, a few more signals sent by the market:
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I used to be indecisive but now I'm not so sure...
  • #9,898
  • Mar 10, 2018 12:49am Mar 10, 2018 12:49am
Quoting Filipo1
Hi everyone, a few more signals sent by the market: {image} {image} {image} {image}
HI Filipo,

Great post, keep the good work.
  • #9,899
  • Mar 10, 2018 10:16am Mar 10, 2018 10:16am
I'm new here, but not new to trading. To be honest, I've done just about everything wrong you could possibly do and have had very dark times. Trading led me down a wormhole that I'm trying to recover from. So yesterday I decided to pray that something would present itself that would work for my style and I happened upon this thread. Am impressed with the support and ongoing feedback you are all providing each other, so mega kudos to all of you for that!

My feedback is that in backtesting charts, it is quite ingenious. I will have to train my eye a little more to the perfect entry. The "Bar Replay" feature on Tradingview is quite helpful for practice. I'd like to test it out on my live account once I get to 90% on bar replay. Is that a realistic and feasible goal from your experiences?

I will also try not to ask any basic questions, but rather things that will help others as well. One question I had was on the pairs you're having success on. I trade mostly the majors and minors, but are there any that you are having more or less success with? Any that you've learned to seek or avoid? I though it would be funny to ask about timeframes, haha. I won't for obvious reasons.

And last, I found an example where I would have taken the trade and it probably wouldn't have worked out for me (red highlighted candle). I mean, ultimately it actually did, but not sure I'd be able to take the heat in this 130-pip SL kitchen and hold out for 4 days (especially if there was a weekend coming up). Is there anything about this candle that shouts out not to take it? SMA moving down, nice full-body cross. Perhaps the 5 sideways candles beforehand? Also, are there any rules that pertain to the middle (basis) Bollinger Band per se or when a setup crosses it as well? I was thinking there might be but haven't found any.

Apologies for all the questions in advance, but any feedback is much appreciated. Thanks and best of luck to you all!!!
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  • #9,900
  • Mar 10, 2018 5:46pm Mar 10, 2018 5:46pm
[quote=ekjinvests;10859710]I'm new here, but .....

Hi EK, I'm relatively new here myself, so my comments come from limited experience with this method. I would not have taken the trade on that candle.
The MA angle wasn't steep enough for me, too close to being horizontal,
The candle had already reached the lower BB
I would have waited for the new candle to start forming and it would quickly be apparent it was reversing.
The ideal entry for me was 3 red candles earlier.

Having said that 130 pip draw down would not worry me....my stop would be above the swing high and 4days or a weekend would not concern me either.

But everyone has their own risk appetite and style that suits....

Good luck
Its all just one persons opinion
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