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Monthly Profit - Daily Trading using SMA

  • #11,161
  • Aug 13, 2019 3:51am Aug 13, 2019 3:51am
I like OIL but beware of BB middle band.
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I used to be indecisive but now I'm not so sure...
  • #11,162
  • Aug 13, 2019 5:58am Aug 13, 2019 5:58am
Quoting Filipo1
{quote} Hi Oddbjorg, EURCAD has SMA 5,0 pointing down but only due to current candlestick. If we have indeed a series of lower highs we don't have a real signal yet as we need to wait for the closing to get a confirmation. {image}
Agree. That is one I am waiting for.
All the best to all of you. But don't follow me. I am a learner.
  • #11,163
  • Aug 13, 2019 2:26pm Aug 13, 2019 2:26pm
Quoting Filipo1
{quote} It depends which pair you are looking at. {image} {image}
Wow! Anyone that caught either of them is in pips
  • #11,164
  • Aug 13, 2019 4:33pm Aug 13, 2019 4:33pm
EURUSD for sell
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  • #11,165
  • Aug 14, 2019 12:13am Aug 14, 2019 12:13am
Quoting Patdozie
{quote} Wow! Anyone that caught either of them is in pips
Indeed (post #10940 Jul.26)
I used to be indecisive but now I'm not so sure...
  • #11,166
  • Edited 1:47am Aug 14, 2019 12:22am | Edited 1:47am
Quoting ordosgoitia
EURUSD for sell {image}
Hi ordosgoitia, looks like but 3 things keep me off at the moment : 1) the last complete candlestick is not engulfing former ones and we are still in range, 2) last close remains above BB middle band, 3) the pattern in place since Aug.1 is a bullish flag.
All the best.
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I used to be indecisive but now I'm not so sure...
  • #11,167
  • Aug 14, 2019 4:47am Aug 14, 2019 4:47am
USDTRY seems ok.
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I used to be indecisive but now I'm not so sure...
  • #11,168
  • Aug 14, 2019 9:59am Aug 14, 2019 9:59am
Quoting Filipo1
USDTRY seems ok. {image}
Hello Filipo,
Thanks for keeping this thread alive as well. I just realized you've also been with the team since 2016. I believe this strategy has been working having been on it for 3 years. KUDOS!!!

Are you strictly trading with the rules on page 1 or you've added some improvements?

Thanks you!
  • #11,169
  • Aug 14, 2019 10:21am Aug 14, 2019 10:21am
Quoting Filipo1
A possible suggestion would be to add a rule to the system with Bk8's agreement (if he is still around...) which by the way is basic to Bollinger bands: look for a buy setup when price action is above the middle band (SMA20) and sell setup when below.
Honestly, after I was few of my supposedly good trades (with good entries) turned the other way, I began to consider this.
Did you ever test it out?

Cheers
  • #11,170
  • Aug 14, 2019 12:43pm Aug 14, 2019 12:43pm
Hello
EU seemingly tipping over... at last.

EG also looks interresting, but sma 5 is not ok... Yet?...

EurChf. Bk8 used just to take more positions at these runnings, I think.
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All the best to all of you. But don't follow me. I am a learner.
  • #11,171
  • Aug 14, 2019 1:47pm Aug 14, 2019 1:47pm
nice thread, i just stumbled on this thread recently. i have always been a strict candle charts trader and i trade daily candles alone....but using the sma 5 and the bb just the way it is outlines here brought a little bit of VERY USEFUL fine tuning to my trading. glad i stumbled on this though.


i will post some of my trades on here as well anytime i pick a trade (hope its allowed), though i usually look for just 3 to 4 trades a month, and most times each gives me a runner of 150 pips minimum which is okay for me.

green pips to us all
  • #11,172
  • Aug 14, 2019 3:05pm Aug 14, 2019 3:05pm
Quoting bjpumping
nice thread, i just stumbled on this thread recently. i have always been a strict candle charts trader and i trade daily candles alone....but using the sma 5 and the bb just the way it is outlines here brought a little bit of VERY USEFUL fine tuning to my trading. glad i stumbled on this though. i will post some of my trades on here as well anytime i pick a trade (hope its allowed), though i usually look for just 3 to 4 trades a month, and most times each gives me a runner of 150 pips minimum which is okay for me. green pips to us all
Hello
Nice having you.
There is really no boss at the moment, he has not been around for a while. But the thread is pretty much the way Bk8 had it. There is also a friendly tone over the place. Bk8 himself invited people to send posts, charts and results here, if it fits with the system.
All the best. Looking forward for your input.
Oddbjørg
All the best to all of you. But don't follow me. I am a learner.
  • #11,173
  • Aug 16, 2019 3:26am Aug 16, 2019 3:26am
Quoting Patdozie
{quote} Hello Filipo, Thanks for keeping this thread alive as well. I just realized you've also been with the team since 2016. I believe this strategy has been working having been on it for 3 years. KUDOS!!! Are you strictly trading with the rules on page 1 or you've added some improvements? Thanks you!
No particular changes except that I like to consider MACD for confirmation, Fibonacci retracement/projection and also have a look on daily/weekly Ichimoku. The idea being that no strategy works all the time mechanically and the more convergence you get (fundamentals included) the higher the chances of successful trades. That’s why I don’t believe in EAs, at least those available to the average Joe of swing trading.
I used to be indecisive but now I'm not so sure...
  • #11,174
  • Aug 16, 2019 3:31am Aug 16, 2019 3:31am
Quoting Patdozie
{quote} Honestly, after I was few of my supposedly good trades (with good entries) turned the other way, I began to consider this. Did you ever test it out? Cheers
Not systematically but closing above/below SMA20 is just an additional index of strong momentum.
I used to be indecisive but now I'm not so sure...
  • #11,175
  • Aug 16, 2019 8:48am Aug 16, 2019 8:48am
finally - one little nugget at the end of a terrible fx week
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  • #11,176
  • Aug 16, 2019 9:57am Aug 16, 2019 9:57am
Thanks for the feedback Filipo
  • #11,177
  • Aug 17, 2019 12:13am Aug 17, 2019 12:13am
Quoting bjpumping
nice thread, i just stumbled on this thread recently. i have always been a strict candle charts trader and i trade daily candles alone....but using the sma 5 and the bb just the way it is outlines here brought a little bit of VERY USEFUL fine tuning to my trading. glad i stumbled on this though. i will post some of my trades on here as well anytime i pick a trade (hope its allowed), though i usually look for just 3 to 4 trades a month, and most times each gives me a runner of 150 pips minimum which is okay for me. green pips to us all
Welcome to the thread, dear! Look forward to your contribution with your pick of trades.
  • #11,178
  • Aug 17, 2019 2:31am Aug 17, 2019 2:31am
Quoting Patdozie
{quote} GPBUSD {image}
GU has not moved in desired location since August 6th. Good this is, it never hit my SL. Just incurring swap costs.
Hopefully it will gain momentum next week.
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  • #11,179
  • Edited 10:23am Aug 17, 2019 9:43am | Edited 10:23am
Quoting tony-fx
Up to date Download Last Ver 1.1 Fixed bug!!!! EA Run on Daily chart https://www.youtube.com/watch?v=5IrzuRkjx3k Entry Long - When previous D1 bull candle's body has clearly crossed SMA and did not touch BB upper band. Short - When previous D1 bear candle's body has clearly crossed SMA and did not touch BB lower band. *** Order 'll open next bar Stop Loss high(+15 Pips)/low(-15 Pips) of previous candle Take Profit/Exit Exit with TP (You can be setting TP in pips.) Exit with Breakeven (You can be setting BE in pips.) Candle touches/cross...
A quick question. Why does this EA commonly take trades that have not passed through the SMA on the previous candle? Breaking this rule:

 

  1. Long - When previous D1 bull candle's body has clearly crossed SMA and did not touch BB upper band.
  2. Short - When previous D1 bear candle's body has clearly crossed SMA and did not touch BB lower band.

As you can see from this screenshot, in just a few 'day's of test trading it has taken three trades, none of them passed through the SMA. Am I missing a setting or something?

Attached Image
  • #11,180
  • Aug 18, 2019 6:29am Aug 18, 2019 6:29am
Quoting Bk8
{image}
You mentioned

Just 15 minutes daily after D1 close when new candle starts.

Avoid

  1. Lower timeframe charts, even H4 is not reliable.

My question is

Which time frame we should use to get benefit in 15 min , i think it willbe 15 min chart.
If we have to see the last day candle as you explained above then it will be irrelevant to see 15 min chart. and ifwe use daily chart and waiting for full day to see whether it touches to BB or not ?

may be my undertanding not correct, please advise
Aamir

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