Monthly Profit - Daily Trading using SMA

The dollar Index is at a resistance potentially to form head and shoulder formation.

Therefore, USD may loose value against other major currencies as per technicals. Consider that USD/CAD is at a top, EUR/USD is at a bottom.

However the market has a life of its own and may do otherwise.

I am out of the GBP pairs at BE. Thanks to UK house of commons.

Buy EUR/USD



Buy EUR/AUD



Short AUD/JPY

can you summarize your trading results each month ?
what percentage of your monthly profit is achieved ?

Buy EUR/SEK

Hi,
regularly trading with this system?

yes i do

The MA is 5 & 14 period? For how long you have been trading with this system?

where is this system?

Maybe in post #1.

This is not system from #1 post

I know, but this is what normally happens. A trader shares his system in post #1, and from page 2 other traders start adding tons of other indicators. Some traders call it 'evolving'.

Guys its the system on page1. The BB is optional. so i don't use it as it distracts me.

I do not pay attention to the MAs that much. the EMAs are 10 and 20. Maybe my next post will come without indicators. The system is purely bottom and top reversal; at least the way i understand it.

Short CHF/JPY

correct. no need of rsi.

The system is a top and bottom entry system. So I pay attention to PA at the top and bottom.

I am interested in positions at the top or bottom that are kind to my account. Positions that allow me risk 2% with a potential reward of 4% at least. but i leave a small fraction (1/4) of the initial position for 6%.

The MAs are lagging indicators and if you rely solely on them, you may be late in the game and the risk requirement then will be more than 2%. Trading the PA at the top affords me to risk 2% while increasing my lot size. It gives me the luxury of entering a position on a pair twice sometimes (now this is against the rule books you will find in the market) but it works for me as long as i keep to the plan.

I use the MAs for managing trades i am already in but not for deciding when to take one.

It works for me and my schedule. It may not work for others.

Advantages of 1:3 risk reward is I have to loose 3 times to wipe out a profit made from from 1 previous trade. So out of the 5 trades posted, I only need to win 2. Winning 3 is a bonus.

Finally to add,

I use to wait for trends in forex. But this market hardly trend and when it does, you have to wait for the right moment (a pull back). Sometimes a pull back may be a reversal. The forex market ranges more than it trends.

So there are plenty opportunities with the system.

Like I said i use indicators only for confirmation bias. The rsi with divergence. But PA at the top is the key. If the PA is right, I am good irrespective of what the indicators are doing.

Hello
Hope all is well
EURCHF looks like an interresting pair
Take care
Oddbjørg

Sir, lermit me to say that you are totally not following this system.

You are going by different rules & negating the thread rules.