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Monthly Profit - Daily Trading using SMA

  • #10,901
  • Jul 2, 2019 4:48pm Jul 2, 2019 4:48pm
Quoting anonymousey
Nice to see some-one else trading this system. I only use the halftrend indicator & CCI candles, with SL 2 daily candles back. Otherwise pretty much the same. {image}
Good day
May I please get the name of the Blue line Indicator on the graph and the indicator itself if you still have it.

Thank you in advance.
Brianm
  • #10,902
  • Jul 4, 2019 5:56pm Jul 4, 2019 5:56pm
Quoting Brianm14
{quote} Good day May I please get the name of the Blue line Indicator on the graph and the indicator itself if you still have it. Thank you in advance. Brianm
Hello
The member you are writing to, has not been around for a while, so that is the reason for, that you have not got an answer - yet, I think.
I am sorry that I do not know the name of the ma or indicator you are asking for.
Study the charts images on this thread, and go to the live tradingview charts - with Bollinger Band 20,2 and sma, which is called Simple Moving Average - often just called Moving average, and set it to 5.
Then you can compare - and backtest, to see if you think this is worth trying.
Do demo first please - - - demo - - printing charts out - write on them the reason why you think the direction will be so and so, and compare after some days. Do that for 3 or 4 currency - pairs to begin with, and see if there are similarities.
This was just my best advise to give you. Feel free to return with comments etc.
All the best, and be sure to take care.
Oddbjørg.
All the best to all of you. But don't follow me. I am a learner.
  • #10,903
  • Jul 5, 2019 5:48pm Jul 5, 2019 5:48pm
Quoting Oddbjorg
{quote} Hello The member you are writing to, has not been around for a while, so that is the reason for, that you have not got an answer - yet, I think. I am sorry that I do not know the name of the ma or indicator you are asking for. Study the charts images on this thread, and go to the live tradingview charts - with Bollinger Band 20,2 and sma, which is called Simple Moving Average - often just called Moving average, and set it to 5. Then you can compare - and backtest, to see if you think this is worth trying. Do demo first please - - - demo...
Hello oddbjorg....in your opinion what is the ideal SL ..the low/high of the wicks...or the open/close of the CS..
  • #10,904
  • Edited 11:50pm Jul 5, 2019 10:31pm | Edited 11:50pm
Quoting Ct13
{quote} Hello oddbjorg....in your opinion what is the ideal SL ..the low/high of the wicks...or the open/close of the CS..
Hello
High.. Low.. 1 or 2 candles back + 15 pips is the system.
Am kind of conservative & manual about the exit.
All the best to all of you. But don't follow me. I am a learner.
  • #10,905
  • Jul 8, 2019 2:37pm Jul 8, 2019 2:37pm
New Trades for me

Regards,
Max
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  • #10,906
  • Jul 10, 2019 2:30am Jul 10, 2019 2:30am
I have been using this strategy for 2 months and it has been the best I have used over this short time. Albeit I have only been trading for 9 months. I like the once a day trading, at the close of the day.

In the last month 11 of 16 of my trades have been profitable with around a 5% return. The strategy has given me more confidence in picking more likely trades.

I jumped on AUD/USD, like others on here, and my TP tripped at 47 pips. I normally have a 1:1 ratio around 50 pips.

Which is my issue, like many others it seems. How to set the SL and TP using this strategy is where I am struggling. When to let it run and when to not be greedy? What do others do who are using this strategy?

Hope this is of interest to other traders.
JS
  • #10,907
  • Edited 3:53am Jul 10, 2019 2:57am | Edited 3:53am
Hi everyone,

I think the Aussie has some more downside potential but beware of Powel's testimony.
Congratulations to maxwell87 for having identified both AUDUSD a d USDCAD earlier but I preferred to enter on confirmed trade setups.
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I used to be indecisive but now I'm not so sure...
  • #10,908
  • Jul 10, 2019 3:27am Jul 10, 2019 3:27am
USDCAD could confirm reversal from major S/R level after doji below weekly BB.
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I used to be indecisive but now I'm not so sure...
  • #10,909
  • Jul 11, 2019 5:26am Jul 11, 2019 5:26am
Hello,

anyone bought EUR USD???

Regards,
Max
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  • #10,910
  • Edited 6:41am Jul 11, 2019 5:48am | Edited 6:41am
Quoting maxwell87
Hello, anyone bought EUR USD??? Regards, Max {image}
Hello
Am keeping an eye on it - but SMA 5 does not give the north signal - yet.
-
There are other interresting pairs, where the question is if it is rather late and/or SMA 5 will bring the signal on Tokyo open.
And wicks. But with USDJPY we seldom avoid them.
But then again it's friday tomorrow-
We'll see. At least we can check and learn on Tuesday, to see if it was the best to go in or stay put.

At the bottom at little matrix between the diverse BK8'ish pairs.
An express idea I got some time ago. Takes 10 seconds, when you have decided which pairs are BK8'ish.
Horisontal stronger than ... Vertical weaker than...
Have a nice weekend all.
All the best.
Oddbjørg
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All the best to all of you. But don't follow me. I am a learner.
  • #10,911
  • Jul 11, 2019 6:34am Jul 11, 2019 6:34am
Quote
Hello
Am keepin an eye on EURUSD - but SMA 5 does not give the north signal - yet.

What exactly is it you are waiting for?

Regards,
Max
  • #10,912
  • Edited 7:31am Jul 11, 2019 7:01am | Edited 7:31am
Quoting maxwell87
{quote} What exactly is it you are waiting for? Regards, Max
Hello

My thoughts are:
UY – I would like to have a smaller wick
UCH – how it behaves at mid bb
NU – sma to point up
NC – sma to point up – And I am doubting
on beforehand because of the wick from yesterday
GU – sma to point up
EU – sma to point up
ECH – sma to point down –
and be more convincing
as it is candle 3 – And I am doubting
on beforehand because of the wick from yesterday

I may be to much afraid, as Usd is weak overall.

Thank you and take care.
Oddbjørg
All the best to all of you. But don't follow me. I am a learner.
  • #10,913
  • Jul 11, 2019 2:58pm Jul 11, 2019 2:58pm
Quoting Oddbjorg
{quote} Hello My thoughts are: UY – I would like to have a smaller wick UCH – how it behaves at mid bb NU – sma to point up NC – sma to point up – And I am doubting on beforehand because of the wick from yesterday GU – sma to point up EU – sma to point up ECH – sma to point down – and be more convincing as it is candle 3 – And I am doubting on beforehand because of the wick from yesterday I may be to much afraid, as Usd is weak overall. Thank you and take care. Oddbjørg
Thx for being very specific.

Will have some time tomorrow to analyse all of this

Regards,
Max
  • #10,914
  • Jul 11, 2019 4:52pm Jul 11, 2019 4:52pm
Hi guys, I don't know if it's only me or what but it seems like the market is not in the favour of this system this week.
  • #10,915
  • Jul 12, 2019 3:22am Jul 12, 2019 3:22am
I found these pairs last night(ps. GMT+8): EN, GA, NC, NCHF, NJ, NU
  • #10,916
  • Jul 15, 2019 12:13am Jul 15, 2019 12:13am
Quoting maxwell87
Hello, anyone bought EUR USD??? Regards, Max {image}
helloo trader

we Learn from mistakes
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  • #10,917
  • Jul 15, 2019 12:50am Jul 15, 2019 12:50am
Quoting uaehawx
{quote} helloo trader we Learn from mistakes {image}
Hi,

Happens to me a lot too...

let me guess, you took a market order instead of a BUY STOP? Always use buy stops, place them 10% higher of candle high...

Let the market CONFIRM your move...

Regards,
Max
  • #10,918
  • Jul 15, 2019 5:52am Jul 15, 2019 5:52am
Hello

going in...

Regards,
Max
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  • #10,919
  • Jul 15, 2019 10:12pm Jul 15, 2019 10:12pm
Quoting maxwell87
New Trades for me Regards, Max {image} {image}
Dear Maxwell87,
Tahnk you for posting your charts. They look beautiful. Can you please share the settings for the two different AO windows,and their significance in openinga trade?
  • #10,920
  • Jul 16, 2019 1:23am Jul 16, 2019 1:23am
Quoting Lazar87
{quote} Dear Maxwell87, Tahnk you for posting your charts. They look beautiful. Can you please share the settings for the two different AO windows,and their significance in openinga trade?
Hello Lazar,

Thx!

I use the standard settings for the Awesome Oscillator and Acceleration Oscillator. I feel more confident if price crosses SMA and you get a signal (same color) on the Awesome and Acceleration, because it shows great momentum (Part of Bill Williams Trading Chaos strategy, called trading in the zone). You can read a summary of it here: Bill Williams Chaos Theory: Overview - Forex Factoryhttps://www.forexfactory.com/attachment.php/1029464?...d...

BUT: This is not part of this strategy, these indicators are lagging and price is the only real indicator, so please use them carefully. These Oscillators only give good signals, if Momentum slowed down and suddenly gets strong (My opinion).

This strategy works fine without these indicators

Regards,
Max
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