Monthly Profit - Daily Trading using SMA

Hello
No trade for me.
I am in on USDCAD - it is now flattening out with turtlespeed.
All the best to all of you.
Oddbj.

i just got home....opened audchf and gbpchf long
UPDATE:
my gbpchf trade hit its SL overnight.
audchf, down 14 pips right now

There is great wisdom in sticking to the rules. Sometimes we make more money by staying out of the market.

I just registered but I have been following as a guest for a few months now. How I wish Bk will be back but we keep moving. Thanks to all that strived to keep this thread alive. I am a newbie that have blown my account a couple of times. I am ready to learn. Success to us all

Chf seems seems very stagnant. I avoided euro gbp like the plague due to political development. The Trading 101 no matter how good a system, market fundamentals can ruin you. For all you beginners don't just follow a system check out the news as well. I got lucky with usdjpy. Selling it short. With the US new it could have gotten stronger lucky that due to brexit, gbp and euro is in turmoil. So people are buying yen as it safe.

As a beginner I suggest u stick to demo until you are well aware of the strategy and some of its weak points.

Hi pipqueen the new version still not working for me.

Make sure you are showing all ccy on your market box. Then reattach

please read post #10,496. pipsy7 had the fix!

with 30 misn left i thought I give some analysis to Thursday day candle

Looking at the 6 signals we had two sells and 4 buys. If we kept these till the new day here is the results . Please note an 15 pips SL is put on the previous candle as per original stratgy

This is there expected turn out of them

USDCHF - Signal Sell - Final Position Expected to be small bullish pin bar - Possible loss 5pips (bought this pair rided it out to the loss of 6 pips)
USDJPY - Signal Sell - Final Position Expected to be small bullish pin bar - possible loss 13 pips (bought this pair closes it at 40 pips profit - just had a feeling)
GBPUSD - Signal Buy - Final Position Huge Low Bearish Bar - Stop Loss with 15pips final loss 100 pips
GBPCHF - Signal Buy - Final Position Huge Low Bearish Bar - Stop Loss with 15pips final loss 188 pips
AUDUSD - Signal Buy - Final Position Bullish Bar - plus 40 pips - possible to keep riding or sell
AUDCHF - Signal Buy - Final Position Bullish Bar - Plus 43 pips and can keep riding


So out of 6 signals 4 will finish at loss.

So did the strategy fail today? If you are solely using technical analysis u would be looking at a net loss of 223pips.

So is the System at fault? In my opinion no. This is why i state to any trader to do technical + fundamental market trading.
I myself stayed away from GBP due to brexit. We also need to look at the effect this had other currencies. If you look at JPY while GBP stock was open a lot of buysiness seem to go for the Yen. This is why there is a big pin bar there. Same with the Swiss. The reason this dissipated was imo due to USD CCY come in to play later on when NY opened. We expected USDJPY to increase eventually due to the bullish attitude towards the pair but I believe due to the role Brexit played a lot was put on JPY, which then reacted giving us that pinbar. If you closed the trade when it hit its high lows you were looking at 40 pips.

USD itself wasnt that effected by todays news. Stating that AUD USD AND CHF made par gains for the day and can be rided a bit if people below these are on a trend and there is evidence there will slowly go up. So good luck to those riding these make sure you lock some profits so it wont go south.

Anyway today was a prime example of what i mentioned earlier. I dont care how good someones Technical Anlysis Strat is. It will always dwarf in compariosn.

Safe traders would of ignored GBP and USD due to the news coming out and may have just went for the AUDCHF.

Anyway I hope this will help everyone who used the pairs today to see why they reacted like this.

Learning point of today watch out for major political news and trade according dont just follow indicators on there own.

New day new bars..Go at it guys but I would caution any GBP pairs...considering the climate there atm. I think if the no confidence letter goes through GBP will weaken more. Infact the liklyhood for brexit agreement right now is low..But tomorrow we may see a bit of a recovery before it goes down more. But its up to you if u will go in for it.

On my real account im going for EURCHF and AUDJPY both going towards the uptrend, so evne if they end a bit lower today i believe they will keep going up.


Please note the SS below is from my Demo account taking all pairs for my 100 day analysis on this strategy so we can pull out the weakness and anything else that may "add " to this strategy

Happy hunting!

i'm updating the dash EA. i have coded a few more pairs.

and update to the trade i got in yesterday.....audchf, i'm up 14 pips. it is a slow mover!

also just entered cadchf long

Call on Gold.

good call

Maybe there is no setup for next weeks currency pair trading. So there is no call yet

Hi all, short on USDJPY:



Paal

Looks like a potential setup but viewing it from a weekly perspective I feel it a bit risky which is confirmed by daily Ichimoku chart with price being stopped by flat Kijun acting as support as long as there is no close below it.
This is just my personal bias to always check Ichimoku for confirmation of any setup involving JPY.
All the best.

Hello
If one dares to trade a Eur - pair these days, this pair could be profitable, if one waits, and decides later today to go bullish.

AND ... keep an eye on NZD-pairs.
We'll see. - All the best.

Oddbjørg.

Hello
USDJPY looks interresting too.

Hi Filipo, I also did take a look at weekly and I see that there is a very strong resistance around 114.00 and the price have been there 4-5 times since Mai but could not break it. Then we got a strong 1D candle away from that area last week and accordingly to the entry rules at page 1. I was not very sure of the setup and check the fundamental reason for the 1D candle here and decide that was a good reason for the trade:
https://www.forexfactory.com/news.php?do=news&id=849257

I do not use Ichimoku so I do not know how to use it.

Paal

Long on EURNZD:



Paal