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Monthly Profit - Daily Trading using SMA

  • #11,061
  • Aug 4, 2019 4:16pm Aug 4, 2019 4:16pm
Valid sell entry on the CADCHF, or a bad move on my part?
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  • #11,062
  • Edited 10:48pm Aug 4, 2019 10:08pm | Edited 10:48pm
Quoting itsDavid
Valid sell entry on the CADCHF, or a bad move on my part? {image}
Hi. Its a valid entry but u entered too late, and not on candle open.
I like BK8's system. My daily system strategy is similar.

I want to share my system, I hope to be useful for the thread.

1. Setup: two exponential ema5 and ema25(10 more risk) and bb (10,1 shift ,0.66 std dev) , standard atr and rsi for monitoring
2. First filter: if the price is below the mm25 the trend is down and I will only operate only short, on the contrary long.

This filter is optional, if the filter off trades will have more risk.

3. Long: price above ema5 and ema25, opening above the bb upper. Second chance long candle up with filter ok and I don't wait.
4. Short: price below ema5 and ema25, opening under the bb lower. Second chance long candle down with filter ok and I don't wait.
5. Stop loss: first fixed and after trailing stop
6. Calendar: set up only for best red news.
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  • #11,063
  • Aug 5, 2019 12:13am Aug 5, 2019 12:13am
Tried the Bk8 with Crypto pairs. So far so good.
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  • #11,064
  • Aug 5, 2019 1:04am Aug 5, 2019 1:04am
Hi team, I'm looking to create an EA using this method for pull backs in a trend.

Below is the EURJPY daily chart and I've added Darly Guppy's GMMA EMAs (3,5,8,10,12,15,30,35,40,45,50,60) in white with the 5 EMA in yellow.

When all the EMAs are in correct order, wait for price to pull back and then close below the 5 EMA. I've drawn blue boxes where this has occurred.

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I'm ignoring the BB. Let me know your thoughts on this and any additional rules/filters you feel could work
Never stop investing. Never stop improving. Never stop doing something new
  • #11,065
  • Aug 5, 2019 1:45am Aug 5, 2019 1:45am
EURUSD - Keep in view. If candle closes above the 5SMA - may be good for Long
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  • #11,066
  • Aug 5, 2019 2:47am Aug 5, 2019 2:47am
Quoting andy60rm
{quote} Hi. Its a valid entry but u entered too late, and not on candle open. I like BK8's system. My daily system strategy is similar. I want to share my system, I hope to be useful for the thread. 1. Setup: two exponential ema5 and ema25(10 more risk) and bb (10,1 shift ,0.66 std dev) , standard atr and rsi for monitoring 2. First filter: if the price is below the mm25 the trend is down and I will only operate only short, on the contrary long. This filter is optional, if the filter off trades will have more risk. 3. Long: price above ema5 and...
Thanks for confirming. I thought that might be the case. I am using the SMMA-Crossover_Signal indicator (The little arrows) to help me learn the system, and it looks like it's confirming entries a bar late.
  • #11,067
  • Aug 5, 2019 5:54am Aug 5, 2019 5:54am
As far as I can see the SMMA-Crossover_Signal indicator is confirming one candle too late (see my above post). Is there are version the confirms on the correct candle?
  • #11,068
  • Aug 5, 2019 5:57am Aug 5, 2019 5:57am
Quoting Patdozie
EURUSD - Keep in view. If candle closes above the 5SMA - may be good for Long {image}
I have actually taken a couple of positions on that chart using other indicators/methods (Stochastic, RSI, Moving Averages). It looks good for a decent long.
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  • #11,069
  • Aug 5, 2019 7:21am Aug 5, 2019 7:21am
Quoting mtacki
{quote} I'm in with a small position... That bearish pin bar at the right spot seduced me :-) Thing that's concerning me at the moment is tomorrow GBP news events... 10:30 GMT That's why I'm keeping the risk low ! {image}
You see
  • #11,070
  • Aug 5, 2019 7:40am Aug 5, 2019 7:40am
Quoting mizi123
{quote} You see
I do-
alteady closed the position like 6 hours ago.
  • #11,071
  • Aug 5, 2019 7:46am Aug 5, 2019 7:46am
If things goes these way till the end of the day EG can ofer at last 1 bullish daily candle 1:1 RR (as a part of trend continuation trade).
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  • #11,072
  • Aug 5, 2019 10:39am Aug 5, 2019 10:39am
What do you guys think about GBPUSD tonight...

Hit resistence on W and is forming a buy signal on daily ( SMA5 Cross )
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  • #11,073
  • Aug 5, 2019 11:45am Aug 5, 2019 11:45am
My 3 trades all are floating on +++ i don't need to rush GN has cought my attention for comin days if happend something like these i will go short...
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  • #11,074
  • Aug 5, 2019 12:32pm Aug 5, 2019 12:32pm
10 Ways To Protect Yourself in Trading

In trading defense is under rated and offense is over rated.Too many new traders want to make money so bad they don’t even consider the risk of loss when the market becomes very volatile and plunges.
Here are ten ways to manage risk and limit your losses during market plunges.

  1. Your maximum position size on any one should never be more than 10% to 20% of your total trading capital.
  2. Every trade you make should have a planned stop loss price where you are proven wrong about the trade and must exit.
  3. Your biggest loss on any one trade should be no more than 1% of your total trading capital based on your position size and your stop loss.
  4. You should trade with diversified traidng signals: dip buying signals, trend trading signals, and swing trading so you have a chance to make money in multiple types of markets.
  5. The less your positions are correlated the lower your risk of loss at one time.
  6. Position size based on volatility not your opinion or ego.
  7. Trade in the direction of the trend on your time frame.
  8. Realize bull markets have no long term resistance and bear markets have no long term support and do not get stubborn and hold a position on the wrong side of a trend.
  9. Also enter a trade understanding the odds that it can be a losing trade.
  10. You must test any trading system through mutiple types of markets: up trends, down trends, volatile, and crashes to completely understand your risk of ruin.

Risk management can both save you from big losses and eventual ruin during losing streaks. The most valuable lessons you can learn in trading is how to protect the capital you do have to give it a chance to both survive and grow. S.B

  • #11,075
  • Aug 5, 2019 1:17pm Aug 5, 2019 1:17pm
Quoting mizi123
10 Ways To Protect Yourself in Trading In trading defense is under rated and offense is over rated.Too many new traders want to make money so bad they don’t even consider the risk of loss when the market becomes very volatile and plunges. Here are ten ways to manage risk and limit your losses during market plunges. Your maximum position size on any one should never be more than 10% to 20% of your total trading capital. Every trade you make should have a planned stop loss price where you are proven wrong about the trade and must exit. Your biggest...
Thanks Mizi
  • #11,076
  • Aug 5, 2019 1:24pm Aug 5, 2019 1:24pm
NZDUSD could be setting up within the next few days by the looks of things!
Keep it simple stupid
  • #11,077
  • Edited 3:49pm Aug 5, 2019 2:58pm | Edited 3:49pm
I have just looked through the daily charts. I'm hoping I've got a little bit more understanding of this system now. I wonder if someone here could let me know if I am correct in my understanding:

On the EURGPB. I'm already in this one, but looking at the setup, would it be a buy on the start of the next candle today? It's passed through the SMA and still a way to go until the top BB line. It's also looking under-bought on the RMI which I know isn't stated as part of this system but still may be useful?
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  • #11,078
  • Edited 3:09pm Aug 5, 2019 2:59pm | Edited 3:09pm
On the GPBSGD

Looks like a buy setup at the start of the next candle to me. Through the SMA, still well clear of the BB.
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  • #11,079
  • Aug 5, 2019 3:01pm Aug 5, 2019 3:01pm
And finally on the EURCAD.

A couple of days ago now, but was that a proper entry on the third candle back? It's only slightly through the SMA but it has a long top wick. Not a long way from the top BB though, the wick touches this, and the range looks narrow.
Attached Image (click to enlarge)
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  • #11,080
  • Aug 5, 2019 5:58pm Aug 5, 2019 5:58pm
Quoting itsDavid
I have just looked through the daily charts. I'm hoping I've got a little bit more understanding of this system now. I wonder if someone here could let me know if I am correct in my understanding: On the EURGPB. I'm already in this one, but looking at the setup, would it be a buy on the start of the next candle today? It's passed through the SMA and still a way to go until the top BB line. It's also looking under-bought on the RMI which I know isn't stated as part of this system but still may be useful? {image}
So far, as you have suggested it is a buy on EURGBP (though the screenshot you have posted is that of EUR/USD). Both the EURUSD and EURGBP have more or less the same setup. Only thing is EURGBP has hit the BB upper band. Correct me if I am wrong. Hope you would point out such instances in the future too.
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