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Monthly Profit - Daily Trading using SMA

  • #11,021
  • Aug 2, 2019 7:10pm Aug 2, 2019 7:10pm
Anyone got the EA for this strategy ?
Beginners Luck
  • #11,022
  • Aug 2, 2019 10:50pm Aug 2, 2019 10:50pm
I just wanna ask some question if next week we dont see opportunity to entry we should stand out of that week right.
  • #11,023
  • Aug 3, 2019 1:39am Aug 3, 2019 1:39am
Hi, I am new to this strategy. I found this set up for Monday.
Attached Image (click to enlarge)
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  • #11,024
  • Aug 3, 2019 3:13am Aug 3, 2019 3:13am
Just curious (and concern). Anybody knows where is Bk8?
  • #11,025
  • Aug 3, 2019 3:58am Aug 3, 2019 3:58am
Quoting Diamonx
I just wanna ask some question if next week we dont see opportunity to entry we should stand out of that week right.
sure - if you're trading this Strat - and there's no entry - you should not enter !
  • #11,026
  • Edited 9:21am Aug 3, 2019 5:25am | Edited 9:21am
Hi

I am wondering if I am understanding the system correctly. Can someone tell me if I am correct with my assessment of this chart? It's the EURJPY and I'm curious if I could have taken a sell trade at the top of the latest candle?

Right or wrong, please quickly explain why if possible

ADDED: Where I have written 'buy here', I really mean 'sell here'! IE, go short.
ADDED: I also now see that we have already gone through the bottom BB on that candle, so it's not a good spot to trade. Unless I should have actually traded the previous candle?

Thanks

David
Attached Image (click to enlarge)
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  • #11,027
  • Aug 3, 2019 6:41am Aug 3, 2019 6:41am
Two quick questions:

Much earlier in this thread (on about page 35) there was a script posted by FX-Flux which would scan all pairs and find the crossovers for you. I have tried to run it but with no luck. Is there a later script I should be running, or am I simply not setting it up correctly?

FX-Flux also mentioned and posted several EA's, including one which auto-opened the trades for you but did not manage them beyond that. Are there up to date versions of these available?

Thanks

David
  • #11,028
  • Aug 3, 2019 9:51am Aug 3, 2019 9:51am
Quoting lyeo
Just curious (and concern). Anybody knows where is Bk8?
As usually on threds are very anoying persons and i think he decided to dont take him self more to tirednes and decided to leave the thread because of trolls!
  • #11,029
  • Aug 3, 2019 9:53am Aug 3, 2019 9:53am
Quoting itsDavid
Two quick questions: Much earlier in this thread (on about page 35) there was a script posted by FX-Flux which would scan all pairs and find the crossovers for you. I have tried to run it but with no luck. Is there a later script I should be running, or am I simply not setting it up correctly? FX-Flux also mentioned and posted several EA's, including one which auto-opened the trades for you but did not manage them beyond that. Are there up to date...
You don't need such a softwers or robots reason because here is worked with daily candles and situation don't change very often observing charts 1nce per day is enought...
  • #11,030
  • Aug 3, 2019 9:58am Aug 3, 2019 9:58am
Quoting itsDavid
Hi I am wondering if I am understanding the system correctly. Can someone tell me if I am correct with my assessment of this chart? It's the EURJPY and I'm curious if I could have taken a sell trade at the top of the latest candle? Right or wrong, please quickly explain why if possible ADDED: Where I have written 'buy here', I really mean 'sell here'! IE, go short. ADDED: I also now see that we have already gone through the bottom BB on that candle, so it's not a good spot to trade. Unless I should have actually traded the previous candle?...
Here is your answer looks at 5 sma is noot ok on your chart chek settings
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  • #11,031
  • Aug 3, 2019 10:07am Aug 3, 2019 10:07am
Quoting Diamonx
I just wanna ask some question if next week we dont see opportunity to entry we should stand out of that week right.
You simply dont need to do nothing we have allredy estabilished downtrends on many EURO, AUD and GBP pairs just wait to pullback's take place and get in when price will return in direction of major trends.. i hope these helps!
  • #11,032
  • Edited 1:43pm Aug 3, 2019 10:11am | Edited 1:43pm
Quoting mizi123
{quote} Here is your answer looks at 5 sma is noot ok on your chart chek settings {image}
Hi

Already done. I noticed that the settings had been revised to 5/0 a little after posting. However I decided to leave the question as it was since there was still something to learn from the answer. IE, would that be a good setup, assuming the screenshot had the SMA had set correctly.

For example your answer confirmed that I was correct in my later suggestion that the trade was actually set up 1 candle sooner, which is good to know. So thank you for that. It's really helpful.

Thanks

David
  • #11,033
  • Aug 3, 2019 10:12am Aug 3, 2019 10:12am
Quoting mizi123
{quote} You don't need such a softwers or robots reason because here is worked with daily candles and situation don't change very often observing charts 1nce per day is enought...
True, but it could still be useful in learning if accurate. I certainly wasn't thinking of trying to use one to autotrade
  • #11,034
  • Aug 3, 2019 10:44am Aug 3, 2019 10:44am
12 Things A Trader Can Control

No matter how much a trader believes that they can predict the future, how strong their conviction is, or how much they believe, no individual trader or investor can control the outcome of a market move unless they have enough capital to move a market their self. Traders have the unique frustration that few other careers have, a lack of control on outcome.
A trader can’t control:

  1. The price movement.
  2. The outcome of a trade.

Once a trader is in a market the price movement is based on the collective actions of the market participants buying, selling, or holding not their own beliefs, hopes, and opinions. While a trader can manage a trade with size and exit stratagies they can’t control whether their stop loss is triggered for a loss or their profit target is hit for a profit. A trader is at the mercy of the market to choose the fate of each of their trades.
The good news is that a trader does have a lot of control.
A trader can control:

  1. When they enter a trade.
  2. When they don’t trade at all but just stay in cash.
  3. A trader can choose their own watchlist and waht markets they will be trading.
  4. The price they exit to stop a loss.
  5. The price target they will exit at to lock in a gain.
  6. To use a trailing stop loss to let a winner run.
  7. The position sizing for a trade.
  8. Plan to manage a maximum loss with the combination of position sizing and a stop loss.
  9. The technical indicators to use for signals.
  10. How emotions are managed.
  11. The lessons you learn from every trade.
  12. Whether to keep trading or quit.

You can’t control what the market price action will do but you can control what you will do in response to the price action and how each trade plays out after entry. Before you are in a trade you control how big and when you will get in. After you are in you control when and how you will get out. You will never control the markets but you can develop the dicipline to have complete control of yourself.

  • #11,035
  • Aug 3, 2019 10:59am Aug 3, 2019 10:59am
Quoting mizi123
{quote} Here is your answer looks at 5 sma is noot ok on your chart chek settings {image}
Is not ma 5 with shift =3?
  • #11,036
  • Aug 3, 2019 11:01am Aug 3, 2019 11:01am
Quoting Alicudi
Hi, I am new to this strategy. I found this set up for Monday. {image}
I entered the trade on Thursday but closed it yester night as I didn't want to have it over the weekend. Its already close to down BB though, so u need to watch it. But it seems it may go down as per present trend
  • #11,037
  • Aug 3, 2019 11:39am Aug 3, 2019 11:39am
Quoting mizi123
12 Things A Trader Can Control No matter how much a trader believes that they can predict the future, how strong their conviction is, or how much they believe, no individual trader or investor can control the outcome of a market move unless they have enough capital to move a market their self. Traders have the unique frustration that few other careers have, a lack of control on outcome. A trader can’t control: The price movement. The outcome of a trade. Once a trader is in a market the price movement is based on the collective actions of the market...
Excellent post! We can all learn from this.
  • #11,038
  • Aug 3, 2019 1:43pm Aug 3, 2019 1:43pm
Quoting Alicudi
{quote} Is not ma 5 with shift =3?
Nope shift has avoided from Bk8 and all others who use moving averages don't use shifts.... i remember bk8 have tryed to add shifts to SMA to filter trades but result was just late entryes..
  • #11,039
  • Aug 3, 2019 1:45pm Aug 3, 2019 1:45pm
Quoting Alicudi
{quote} Is not ma 5 with shift =3?
No, it's 5/0. It started out as 5/3 but it later emerged that 5/0 works better. I'm also still working my way through everything here.
  • #11,040
  • Aug 3, 2019 2:08pm Aug 3, 2019 2:08pm
Quoting mizi123
{quote} Nope shift has avoided from Bk8 and all others who use moving averages don't use shifts.... i remember bk8 have tryed to add shifts to SMA to filter trades but result was just late entryes..
Ok ty. I updated the ma and checked all the charts again. Is this one on gbp/cad a good setup for Monday?
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