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Monthly Profit - Daily Trading using SMA

  • #10,561
  • Edited 5:40pm Nov 19, 2018 5:07pm | Edited 5:40pm
Quoting kirinda
Long on EURNZD: {image} Paal
Similar trade available on EURAUD also.

Also short on AUDJPY available if anyone is keen.
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  • #10,562
  • Nov 20, 2018 12:14am Nov 20, 2018 12:14am
Thank you Ivanyo. I did take the same trades. Currently in a draw down. However, USDJPY is paying off very well.
  • #10,563
  • Nov 20, 2018 2:21am Nov 20, 2018 2:21am
One more mirroring the EURAUD
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I used to be indecisive but now I'm not so sure...
  • #10,564
  • Nov 20, 2018 2:48am Nov 20, 2018 2:48am
Anyone in the same train with me? Imo this pair shows strong sell for weekly TF.
Yesterday My TP got hit for 40 pips, I forgot to set my backup train for longer destination..
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  • #10,565
  • Nov 20, 2018 2:54am Nov 20, 2018 2:54am
Quoting pipqueen18
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 {file}
The previous one worked, this one didn't work on my pc.
Still awesome tho

I use this only for sniping pairs with low spread
  • #10,566
  • Nov 20, 2018 5:52am Nov 20, 2018 5:52am
Quoting Ausitrader
Thank you Ivanyo. I did take the same trades. Currently in a draw down. However, USDJPY is paying off very well.
I take it that it was a signal from another day? There was no clear cross of the SMA today.
  • #10,567
  • Nov 20, 2018 12:08pm Nov 20, 2018 12:08pm
Quoting kirinda
Hi all, short on USDJPY: {image} Paal
Exit this trade at break even.
  • #10,568
  • Nov 20, 2018 2:01pm Nov 20, 2018 2:01pm
AU and NU in fire
  • #10,569
  • Nov 20, 2018 3:54pm Nov 20, 2018 3:54pm
Short on AUDJPY:

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Paal
  • #10,570
  • Edited 10:34pm Nov 20, 2018 4:06pm | Edited 10:34pm
Quoting Ivanyo
{quote} Similar trade available on EURAUD also. Also short on AUDJPY available if anyone is keen. {image} {image} {image}
Update - all three trades closed. Made money on AJ and EA. EN not going anywhere so closed with slight loss. I am still struggling with how to manage taking profits and closing trades with this system.

Today signals - I might try to let these run 1:1 R/R, but move stop to BE after trades reach 150 fib level so that a winning trade never turns into a loser.
AU
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EJ
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NU
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Update - I closed these trades also with slight loss because I read page 1 again and noticed that the MA were not in our favor on these trades. Should look for long trades when MA is sloping up, and short trades when MA is sloping down.

Let's revert tomorrow with some proper setups.
  • #10,571
  • Nov 21, 2018 1:30am Nov 21, 2018 1:30am
Quoting Ivanyo
{quote} Update - all three trades closed. Made money on AJ and EA. EN not going anywhere so closed with slight loss. I am still struggling with how to manage taking profits and closing trades with this system. Today signals - I might try to let these run 1:1 R/R, but move stop to BE after trades reach 150 fib level so that a winning trade never turns into a loser. AU {image} EJ {image} NU {image} Update - I closed these trades also with slight loss because I read page 1 again and noticed that the MA were not in our favor on these trades. Should...
Why you struggle rules are out there:
Take Profit/Exit

 

  1. Take 2 positions of same setup, and close the first setup after taking profit on same day and leave the another setup to run forever
  2. Keep moving SL for second setup as per S&R
  3. You may exit when candle touches/cross BB top/bottom line.
  4. You may exit from second position if you have minimum 3 candles profit as part of 1:3 strategy.
  5. Must Exit on breakeven if setup goes in opposite direction.

  • #10,572
  • Nov 21, 2018 1:37am Nov 21, 2018 1:37am
Quoting Ivanyo
{quote} Update - all three trades closed. Made money on AJ and EA. EN not going anywhere so closed with slight loss. I am still struggling with how to manage taking profits and closing trades with this system. Today signals - I might try to let these run 1:1 R/R, but move stop to BE after trades reach 150 fib level so that a winning trade never turns into a loser. AU {image} EJ {image} NU {image} Update - I closed these trades also with slight loss because I read page 1 again and noticed that the MA were not in our favor on these trades. Should...
Let me tell you what i do take the indi on mu thred DMW ranges and ad id 1st tp on weekly range second on monthly after 1st tp hited go in break even and thats it
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  • #10,573
  • Edited 2:20am Nov 21, 2018 2:02am | Edited 2:20am
Quoting mizi123
{quote} Why you struggle rules are out there: Take Profit/Exit Take 2 positions of same setup, and close the first setup after taking profit on same day and leave the another setup to run forever Keep moving SL for second setup as per S&R You may exit when candle touches/cross BB top/bottom line. You may exit from second position if you have minimum 3 candles profit as part of 1:3 strategy. Must Exit on breakeven if setup goes in opposite direction.
I use a combination of 1 , 4, 5 and an extra rule:

I take 2 positions. Take profit for one position after 1 candle in wanted direction. For second position I take profit after 3 candles in wanted direction. For 3 candles I only count candles in wanted direction (I do not count pullback candles).
I move stop loss to break even for both positions after 1 candle in wanted direction. I do not move stop loss after this.

The extra rule I use is:
The first take profit need to be at least 1/2R. The second take profit need to be at least 1R. This to avoid getting too small risk:reward for trades.

Paal
  • #10,574
  • Edited 2:29am Nov 21, 2018 2:12am | Edited 2:29am
Quoting kirinda
{quote} I use a combination of 1 , 4, 5 and an extra rule: I take 2 positions. Take profit for one position after 1 candle in wanted direction. For second position I take profit after 3 candles in wanted direction. For 3 candles I only count candles in wanted direction (I do not count pullback candles). I move stop loss to break even for both positions after 1 candle i wanted direction. I do not move stop loss after this. The extra rule I use is: The first take profit need to be at least 1/2R. The second take profit need to be at least 1R. This...
Also check out post 123 by Bk8 (he prefer that reward is atleast 3 times the risk):
https://www.forexfactory.com/showthr...16#post9057516
  • #10,575
  • Nov 21, 2018 2:16pm Nov 21, 2018 2:16pm
Hi all, quite new here and I've been glancing at the daily charts on my watchlist, I'd just like to see if the following would be considered a valid entry, on USDJPY:
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  • #10,576
  • Nov 21, 2018 3:45pm Nov 21, 2018 3:45pm
Quoting Barraka
Hi all, quite new here and I've been glancing at the daily charts on my watchlist, I'd just like to see if the following would be considered a valid entry, on USDJPY: {image}
Hello
We usually wait for sma 5 to go through + point upwards.
All the best.
All the best to all of you. But don't follow me. I am a learner.
  • #10,577
  • Nov 22, 2018 12:40am Nov 22, 2018 12:40am
Correct Ivanyo.

Quoting Ivanyo
{quote} I take it that it was a signal from another day? There was no clear cross of the SMA today.
  • #10,578
  • Nov 22, 2018 1:49am Nov 22, 2018 1:49am
If these will end up these way will be awesome (monthly circle finished)!
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  • #10,579
  • Nov 22, 2018 7:13am Nov 22, 2018 7:13am
Quoting mizi123
If these will end up these way will be awesome (monthly circle finished)! {image}
Hello MIZI 123
Thank you. This looks interresting.
We will maybe think it is best to have one more big candle south, so this flat feeling is over, before we go in.
I might be wrong.
All the best.
Oddbjørg
All the best to all of you. But don't follow me. I am a learner.
  • #10,580
  • Nov 22, 2018 9:56am Nov 22, 2018 9:56am
Quoting Oddbjorg
{quote} Hello MIZI 123 Thank you. This looks interresting. We will maybe think it is best to have one more big candle south, so this flat feeling is over, before we go in. I might be wrong. All the best. Oddbjørg
What attracted my attention is weekly chart has created clasic pinbar wich it means here is big rejection beside monthly resistance 3 of PP, on H1 and so many bla bla bla
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