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Monthly Profit - Daily Trading using SMA

  • #11,881
  • Jul 20, 2021 2:13pm Jul 20, 2021 2:13pm
Quoting sly497
Question: If the daily candle closes with the 5 SMA passing through it would this be a buy signal according to this stratergy? Also, I am cautious on both currency pairs due to current events. What are your thoughts? {image}
Hi sly497, please re-read carefully post #1.
The highlighted section on the screenshot below should answer your question.
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I used to be indecisive but now I'm not so sure...
  • #11,882
  • Jul 26, 2021 2:09pm Jul 26, 2021 2:09pm
Hello,

Today I read the first 20 pages of this thread studying the strategy. I see that almost 5 years have passed since the sharing of this strategy. I wish to know if the original strategy has been profitable for a long period of time?

Thanks
Alan
  • #11,883
  • Jul 26, 2021 3:23pm Jul 26, 2021 3:23pm
Quoting AlanAA
Hello, Today I read the first 20 pages of this thread studying the strategy. I see that almost 5 years have passed since the sharing of this strategy. I wish to know if the original strategy has been profitable for a long period of time? Thanks Alan
Hi AlanAA, as for all strategies there are tough times when you feel like crossing the desert. So I would be tempted to reply: ask the trader himself… In the end discipline is what counts the most. Some traders make a very good income with a very low winning trades rate like 35%.
All the best.
I used to be indecisive but now I'm not so sure...
  • #11,884
  • Jul 26, 2021 3:27pm Jul 26, 2021 3:27pm
Buy signal sent by GBPUSD.
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I used to be indecisive but now I'm not so sure...
  • #11,885
  • Jul 26, 2021 10:34pm Jul 26, 2021 10:34pm
Quoting Filipo1
{quote} Hi AlanAA, as for all strategies there are tough times when you feel like crossing the desert. So I would be tempted to reply: ask the trader himself… In the end discipline is what counts the most. Some traders make a very good income with a very low winning trades rate like 35%. All the best.
Thanks Filipo, I have noticed that you have the macd and rsi on your chart. Have these been added by the creator of this thread or its something that you have added yourself?
  • #11,886
  • Jul 26, 2021 11:06pm Jul 26, 2021 11:06pm
Quoting AlanAA
{quote} Thanks Filipo, I have noticed that you have the macd and rsi on your chart. Have these been added by the creator of this thread or its something that you have added yourself?
Personal addition. Last creator’s update is fully shown on post #1.
I used to be indecisive but now I'm not so sure...
  • #11,887
  • Jul 27, 2021 10:48am Jul 27, 2021 10:48am
Quoting Filipo1
Buy signal sent by GBPUSD. {image}
Just to give some perspective on major resistances confluence ahead on the weekly chart including Ichimoku.
A bit messy but here is a good synopsis of Bollinger middle band, Kijun-sen and 50% Fibonacci all around 1.3907.
Worth protecting (some of) your gains considering tomorrow’s FOMC announcement.
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I used to be indecisive but now I'm not so sure...
  • #11,888
  • Jul 29, 2021 2:41am Jul 29, 2021 2:41am
Among a few others in the wake of yesterday’s FOMC USDCAD has sent a trend continuation sell signal.
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I used to be indecisive but now I'm not so sure...
  • #11,889
  • Jul 29, 2021 3:11am Jul 29, 2021 3:11am
Quoting Filipo1
Among a few others in the wake of yesterday’s FOMC USDCAD has sent a trend continuation sell signal. {image}
This is encouraging…
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I used to be indecisive but now I'm not so sure...
  • #11,890
  • Jul 31, 2021 4:05am Jul 31, 2021 4:05am
Month-end review of the pairs/indices to watch.
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I used to be indecisive but now I'm not so sure...
  • #11,891
  • Jul 31, 2021 4:09am Jul 31, 2021 4:09am
Quoting Filipo1
Month-end review of the pairs/indices to watch. {image} {image} {image} {image} {image} {image} {image} {image} {image} {image}
And a last one.
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I used to be indecisive but now I'm not so sure...
  • #11,892
  • Aug 2, 2021 1:46pm Aug 2, 2021 1:46pm
Hi, guys!

The system is great and I have traded it for already a couple of years. Unfortunately, I self-sabotaged myself few times, which I think is normal for every beginner trader and this is the way we learn.

Right now I follow the rules strictly. One thing that I constantly trying to improve is the risk/reward and the take profit.
I have tried the exact rule of 2 trades. It seems in the long run this can cause very little profit or even loss. Because the average R/R is 1:1 or sometimes less.

The last back test I did showed very interesting stats. I tested taking profit just after one candle in the same direction after entry (after the SMA cross).
Of course, we can miss some long runs, but it seems the numbers talks by themself.

I tried 101 trades.

WIN - 74
LOSE - 24

Average Win - 437 pips
Average Lost - 601 pips

Pips profit in total = 16 162

Please let me know what is your strategy for profit-taking and R/R ratio or what your backtesting or practice shows as a profitable way.
Attached Image
Dreams don't work unless you do
RealDeal All Time Return: -73.9%
  • #11,893
  • Aug 2, 2021 2:44pm Aug 2, 2021 2:44pm
Another test I just have made.
Taking profit the next 2 candles and moving the stop loss to break even after one candle in profit.

It seems way better, almost double.
Attached Image
Dreams don't work unless you do
RealDeal All Time Return: -73.9%
  • #11,894
  • Aug 7, 2021 3:16am Aug 7, 2021 3:16am
First trade after the last tests.
EUR/ USD short. I took profit after 2 candles in my direction.
Actual RR ratio 1:1.

Do someone was involved in the same trade?
What was or is your plan for taking profit and exit.

Please share.

PS. In my last posts, it seems I have made a mistake using pipettes instead of pips.
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Dreams don't work unless you do
RealDeal All Time Return: -73.9%
  • #11,895
  • Aug 10, 2021 1:17am Aug 10, 2021 1:17am
Quoting Kodzhamanov
First trade after the last tests. EUR/ USD short. I took profit after 2 candles in my direction. Actual RR ratio 1:1. Do someone was involved in the same trade? What was or is your plan for taking profit and exit. Please share. PS. In my last posts, it seems I have made a mistake using pipettes instead of pips. {image} {image}
Hi, are you opening only one position and closing it when 1:1 R:R is reached? How do you manage a trade if price moves against you? I did a number of backtesting on this and my results were a small profit. Using the open 2 trades, closing 1 at 1:1RR. Letting the second one run and moving sl below recent candle close, give that price moves in my favour.
  • #11,896
  • Aug 10, 2021 2:28am Aug 10, 2021 2:28am
Sell signal on GBPUSD
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I used to be indecisive but now I'm not so sure...
  • #11,897
  • Edited 3:10am Aug 10, 2021 2:40am | Edited 3:10am
Quoting Filipo1
Sell signal on GBPUSD {image}
I would prefer Ichimoku showing CS below candlesticks on the daily but the sell signal is supported by last weekly closing below Bollinger middle band with descending SMA5.
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I used to be indecisive but now I'm not so sure...
  • #11,898
  • Edited 1:52pm Aug 10, 2021 1:27pm | Edited 1:52pm
Quoting AlanAA
{quote} Hi, are you opening only one position and closing it when 1:1 R:R is reached? How do you manage a trade if price moves against you? I did a number of backtesting on this and my results were a small profit. Using the open 2 trades, closing 1 at 1:1RR. Letting the second one run and moving sl below recent candle close, give that price moves in my favour.
After a lot of time trading exactly as Bk8. Open 2 positions closing one after one candle in profit and leaving the other to run.
I found this sometimes lead to less than 1:1 RR. Sometimes after few days of profit, the negative candle led to a breakeven. Sometimes spikes also closed future profitable trades.
Of course, this is a matter of psychology, I am sure my approach for sure was not the best.
However, I decided to backtest the strategy and to open just one position closing after one candle in profit after that two candles in profit. You can see the results few comments above.
I am trying to start a discussion in this direction so everyone can share how they exit the trades and takes a profit.
I think this is a very interesting topic.
Dreams don't work unless you do
RealDeal All Time Return: -73.9%
  • #11,899
  • Aug 12, 2021 4:05am Aug 12, 2021 4:05am
Buy signal on CADJPY.
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I used to be indecisive but now I'm not so sure...
  • #11,900
  • Aug 12, 2021 6:47am Aug 12, 2021 6:47am
Quoting Kodzhamanov
Another test I just have made. Taking profit the next 2 candles and moving the stop loss to break even after one candle in profit. It seems way better, almost double. {image}
Thanks for your testing. A couple of questions, if you please. Are these test results for 1 year? and can you explain in more detail the moment with TP, do you close the trade after the first candle from the entry, even if it is in the red, but the SL did not work? thanks
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