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Monthly Profit - Daily Trading using SMA

  • #11,561
  • Apr 16, 2020 2:43am Apr 16, 2020 2:43am
I am having better results with 5 SMA with Shift 3 recently...
Any thoughts on this?
  • #11,562
  • Apr 16, 2020 3:20am Apr 16, 2020 3:20am
Forgot to mention:

Yellow = Watchlist
Green = Long
Red = None
Attached Images
  • #11,563
  • Apr 19, 2020 9:07pm Apr 19, 2020 9:07pm
Hey all,
I was just wondering how people are managing the rule
Quote
Must Exit on breakeven if setup goes in opposite direction.
(That is, if anyone is using it).
Do you guys give it a set amount of time in the red before you decide the trade is not working and move your TP to BE?
Or are most people going off of a set amount of pips?

Any takes / Opinions are welcomed!
  • #11,564
  • Apr 19, 2020 9:32pm Apr 19, 2020 9:32pm
Quoting Iamdrp
{quote} yes sir here is the dashboard hope you will find it usefull. {file}
Well appreciated!!
  • #11,565
  • Apr 20, 2020 1:15am Apr 20, 2020 1:15am
Quoting hampy
Hey all, I was just wondering how people are managing the rule {quote} (That is, if anyone is using it). Do you guys give it a set amount of time in the red before you decide the trade is not working and move your TP to BE? Or are most people going off of a set amount of pips? Any takes / Opinions are welcomed!
These is it:
1. Is signal candle;
2. you have opened 2 positions;
After day ends you TP in 1 position and move SL in Be on 2nd position and as you see trade goes against you and you are out on 2nd trade in be!
Attached Image (click to enlarge)
Click to Enlarge Name: zzz.png Size: 23 KB
  • #11,566
  • Apr 20, 2020 7:27am Apr 20, 2020 7:27am
Quoting Iamdrp
{quote} yes sir here is the dashboard hope you will find it usefull. {file}
Thank you for sharing the indicator .... can this work on spotting hourly trend lines?
  • #11,567
  • Apr 20, 2020 4:31pm Apr 20, 2020 4:31pm
Quoting mizi123
{quote} These is it: 1. Is signal candle; 2. you have opened 2 positions; After day ends you TP in 1 position and move SL in Be on 2nd position and as you see trade goes against you and you are out on 2nd trade in be! {image}
Hey, I understood the two position and what to do if you are in profit for the day but in the take profit/exit section of post #1 BK8 says to exit on BE if the trade goes against you. I interpreted this as, if i enter a position and it goes aginst me instantly & for the remainder of the day, then I am to move my TP for both trades to BE and let it run until it hits my stop loss or i get out for BE.
Did I overthink this and interpretate this incorrectly then? Could you please confirm this and thank you very much sir
  • #11,568
  • Apr 21, 2020 7:34pm Apr 21, 2020 7:34pm
Hello
Interresting pair.
All the best.
Oddbjørg
Attached Image (click to enlarge)
Click to Enlarge Name: eg.PNG Size: 114 KB
All the best to all of you. But don't follow me. I am a learner.
  • #11,569
  • Apr 22, 2020 3:26pm Apr 22, 2020 3:26pm
Quoting mizi123
{quote} These is it: 1. Is signal candle; 2. you have opened 2 positions; After day ends you TP in 1 position and move SL in Be on 2nd position and as you see trade goes against you and you are out on 2nd trade in be! {image}
Hi Mizi, so far that`s clear. Now, how do you handle if the trade goes against you? Wait if it recovers or hits SL? Do you close 1st trade @ day close anyway? Or do you make it dependent on 5MA (close if crossed back again or hold if not)? Or do you have any other criteria? Thanks.
  • #11,570
  • Apr 23, 2020 4:04am Apr 23, 2020 4:04am
Quoting money123456
Hi everyone, Strange times we are going through I started following the thread about 2 months ago. At first I set up a demo account and did very well doubling my account. I decided for the first time to put 1000 Euros into a real account. After 4 weeks I am at 3259 Euros! The Rules I am following: Risk: I have been putting roughly 2% on each of the two trades I take with each pair so about 4% per trade I try to limit the max number of pairs containing the same currency to two - Once in profit the pair can be ignored and more added - I have been...
Awesome result you gain there,
Btw after reading your result, i made some EA using the rule on the first page according to my perspective. So, the rule i apply to my EA is :

Entry
- Candle cross and close SMA 5 and not touching the top/bottom BB line.
- The SMA 5 slope needs to pointing upwards (this a little bit tricky to do, since we need to compare the current value and the X candle back value) but i think i got it right using the help of an indicator.

Money Management
I set the money management to use Fixed amount risk, so it's in USD how much you want to lose if your trade hit the SL, this way i can manage my risk pretty measurable.
And because whenever the EA get Entry signal, it will open 2 trades. You need to divide your risk into 2. Let's say you want to risk $50 on each signal, then you need to enter $25 to the EA settings so it'll open 2 trades with $25 risk inside.

TP and SL
for Buy Trades
As i said previously, i split the entry to 2 trades. Trade number one and two. Trade number one doesn't have Take Profit and has only StopLoss at Previous Candle Low minus 15 pips. Then there's trade number two which have Take Profit on Previous Candle High plus 15 pips along with Stop Loss being the same as trade number one.
I also attach a trailing stop using ATR that will do everything based on the 14 days ATR.
AAAND, when trade number two is closed due to Take Profit, the EA will automatically move StopLoss for trade number one to the opening price.
For the Sell Trades it just opposite of the BUY.

Exit Condition
I set some exit condition when Candle crosses the moving average in the opposite way of our trade direction or another exit condition is if the candle touches the top/bottom BB line.

Then i start the backtest using Dukascopy history data from Jan 2017 to Feb 2020. I only test 12 of 28 pairs that i plan for. So far it's not that great, i mean it's only profitable on 5 pairs but maybe you guys can do the backtest also, maybe it just my history data doesn't good enough or there just some bug on the EA.

PS. You need to put TSO Moving Average Slope.ex4 to your Indicator folder, this way the EA can get data from that indicator.
Attached File(s)
File Type: ex4 TSO Moving Average Slope.ex4   10 KB | 518 downloads
File Type: ex4 Ma5.ex4   291 KB | 536 downloads
  • #11,571
  • Apr 30, 2020 2:49pm Apr 30, 2020 2:49pm
Quoting Evernewtron
{quote} Awesome result you gain there, Btw after reading your result, i made some EA using the rule on the first page according to my perspective. So, the rule i apply to my EA is : Entry - Candle cross and close SMA 5 and not touching the top/bottom BB line. - The SMA 5 slope needs to pointing upwards (this a little bit tricky to do, since we need to compare the current value and the X candle back value) but i think i got it right using the help of an indicator. Money Management I set the money management to use Fixed amount risk, so it's in USD...
What is the 5 pairs ???
  • #11,572
  • May 1, 2020 8:27am May 1, 2020 8:27am
Hi guys, been trading this system on demo for the past month or so. I was wondering how everyones result are during these strange times? There seems to be alot of ranging which is hindering trades.
  • #11,573
  • May 2, 2020 12:00pm May 2, 2020 12:00pm
its awesome.
  • #11,574
  • May 2, 2020 1:07pm May 2, 2020 1:07pm
Quoting itech1
Hello friends, I am starting a new telegram group so we can interact more often and share the setups. This is my first time creating this kind of group so it may require some tweaking. The goal is to share the success with all members. Here is the link of this group, please join and contribute. https://t.me/joinchat/BZQp5w9RJM9OCbnH5C3jRw Thanks!
I joined , thanks
  • #11,575
  • May 4, 2020 5:23am May 4, 2020 5:23am
Quoting Evernewtron
{quote} Awesome result you gain there, Btw after reading your result, i made some EA using the rule on the first page according to my perspective. So, the rule i apply to my EA is : Entry - Candle cross and close SMA 5 and not touching the top/bottom BB line. - The SMA 5 slope needs to pointing upwards (this a little bit tricky to do, since we need to compare the current value and the X candle back value) but i think i got it right using the help of an indicator. Money Management I set the money management to use Fixed amount risk, so it's in USD...
Thanks for the hard work I will have a look at the EA. After my winning streak I had a few weeks of break even or slight negative, so may have just been luck!. MY feeling is there is definitely something in this strategy as a trigger but possibly combined with something else.
  • #11,576
  • May 4, 2020 5:29am May 4, 2020 5:29am
Quoting hampy
Hey all, I was just wondering how people are managing the rule {quote} (That is, if anyone is using it). Do you guys give it a set amount of time in the red before you decide the trade is not working and move your TP to BE? Or are most people going off of a set amount of pips? Any takes / Opinions are welcomed!
I never understood this rule ...how can you exit at BE if it goes in the wrong direction?
  • #11,577
  • May 4, 2020 5:31am May 4, 2020 5:31am
Quoting mizi123
{quote} These is it: 1. Is signal candle; 2. you have opened 2 positions; After day ends you TP in 1 position and move SL in Be on 2nd position and as you see trade goes against you and you are out on 2nd trade in be! {image}
Mizzi I got it thanks!!!
  • #11,578
  • May 6, 2020 12:45am May 6, 2020 12:45am
How is everyone getting on here under these volatile conditions I am struggling to find trades at the moment everything is ranging. Has anyone looked at stepping down to H4?
  • #11,579
  • May 6, 2020 10:51am May 6, 2020 10:51am
Quoting Bk8
I am sharing the simplest strategy for stress free day trading, I have ever seen anywhere else Indicators SMA 5,0 BB (Optional) Time Required - Just 15 minutes daily after D1 close when new candle starts. Avoid Lower timeframe charts, even H4 is not reliable. Risk - Do not take positions more than 5% of account value and do not take multiple positions of same currency (Max 2), even setup is 100% correct Sideways pattern, see below (Updated on 17-Dec-2016) Long - SMA line in upward direction Short - SMA line in[/highlight]...
Dear Bk8 ! you mentioned in your first post that "Long - SMA line in upward direction Short - SMA line in downward direction Ignore" i would ask you that how could i assess that SMA is upward or downward since the parameter of SMA is shift 3 so the SMA line is automatically shows the upward to downward and downward to upward... how can i assess? 2nd question is what is the indication of SMA flat? 3rd Question is you mentioned the "body has clearly crossed SMA" while you shown in chart you posted an example that you trade on wicks, should we include wicks?
  • #11,580
  • May 6, 2020 10:55am May 6, 2020 10:55am
Quoting jamilrouf
{quote} Dear Bk8 ! you mentioned in your first post that "Long - SMA line in upward direction Short - SMA line in downward direction Ignore" i would ask you that how could i assess that SMA is upward or downward since the parameter of SMA is shift 3 so the SMA line is automatically shows the upward to downward and downward to upward... how can i assess? 2nd question is what is the indication of SMA flat? 3rd Question is you mentioned the "body has clearly crossed SMA" while you shown in chart you posted an example that you trade on wicks, should...
BK8 has not ben around for a long time. SMA was switched to no shift after some time in the forum.
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