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Daily Chart w/ 10sma

  • #1,361
  • Nov 3, 2014 8:30am Nov 3, 2014 8:30am
A couple of trades I am in with s/l already in place so they will be a small winner regardless of what happens.
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  • #1,362
  • Edited 11:14am Nov 3, 2014 10:42am | Edited 11:14am
Here are a couple more trades I am in. Because JPY will do more QE in there future I will hold the AUD/JPY trade for a while, long term trade. Not sure how the EUR/USD will work out but feel good about it at this point.
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Click to Enlarge Name: eurusd11314.png Size: 139 KB
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  • #1,363
  • Nov 3, 2014 11:41am Nov 3, 2014 11:41am
To anyone that may be reading this I can not express enough the importance of always having a stop loss in place. There are always things going on in this world or speeches being made that we are unaware of. These things can greatly impact the forex market and change things very quickly. Do not allow yourself to wake up one morning and find yourself down in a trade 400 or 500 pips!! Always have a stop loss!!
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  • #1,364
  • Nov 3, 2014 1:02pm Nov 3, 2014 1:02pm
I am out of eur/usd trade with a few pips. I will stay in the aud/jpy trade but there is a lot of Aussie news tonight that is high impact. I have my stop loss set and may get kicked out. If I do I will look at it again tomorrow.

Please feel free to post ,ask questions, and become active in this thread. Thanks
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  • #1,365
  • Nov 3, 2014 4:46pm Nov 3, 2014 4:46pm
Quoting bkg102665
I am out of eur/usd trade with a few pips. I will stay in the aud/jpy trade but there is a lot of Aussie news tonight that is high impact. I have my stop loss set and may get kicked out. If I do I will look at it again tomorrow. Please feel free to post ,ask questions, and become active in this thread. Thanks
I did get knocked out of aud/jpy trade with a small profit. I will look at it tomorrow and see if there is a trade after tonights high impact announcement by AUD.
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  • #1,366
  • Nov 4, 2014 3:28am Nov 4, 2014 3:28am
I am now in no trades. Stop loss got me on all of them

Election day here in the USA. No trading today for me.
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  • #1,367
  • Nov 5, 2014 4:13am Nov 5, 2014 4:13am
I did jump in a couple of trades yesterday once it seemed the elections may be headed toward a win for most republicans. Stop loss are in place so they will be winners regardless of the movement today. Take profit has not been set. I will just keep a check on it and take it out when the time seems right.
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  • #1,368
  • Feb 22, 2016 6:50am Feb 22, 2016 6:50am
Not sure anyone is still hanging around this thread but just wanting to get it revived. The trade still works and I am always trying to figure out how to make it better and more reliable. If you are interested in trading along with me on this very simple system please reply back and let me know there is still some interest here. Thanks and trade well!!
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  • #1,369
  • Feb 22, 2016 7:13am Feb 22, 2016 7:13am
These days I really only trade five pairs: usd/jpy, eur/jpy, eur/usd, gbp/jpy, and gbp/usd. This system will work on most any pair but seems to work better with the pairs that have a more consistent trend. If you try this on a volatile pair you will not see as much success.
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  • #1,370
  • Feb 24, 2016 4:31am Feb 24, 2016 4:31am
I got out of a GBP/USD short trade last night due to it being close to an all time low. This is just my opinion but I would certainly not be looking to short GBP/USD here. I will be looking for a signal to take it back long and that may take a while to set up, BE PATIENT! Please be reminded all my comments are based off of what I see on the daily charts.
EUR/USD is sitting at a resistance area as well as a daily trend line area that started on December 1, 2015 so it may be going back long also, only time will tell!
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  • #1,371
  • Edited 7:48am Feb 24, 2016 7:36am | Edited 7:48am
I decided to go long on the eur/usd.
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  • #1,372
  • Dec 29, 2021 7:02am Dec 29, 2021 7:02am
The 10SMA is still my favorite trade working off support and resistance areas and now I have added a MACD to try and help me make better decisions. I would really like to get this thread back going again say please jump on board and subscribe to the thread and post your trades. I will be posting my trades and look forward to discussing them with you!

These are trades I am currently in so let us see how they work out and please ask any questions you may have as I am here to help fellow traders if possible. Happy Trading!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audjpy.png Size: 145 KB
Click to Enlarge Name: audusd.png Size: 136 KB
Click to Enlarge Name: euraud.png Size: 142 KB
Click to Enlarge Name: eurjpy.png Size: 157 KB
Click to Enlarge Name: gbpaud.png Size: 133 KB
Click to Enlarge Name: nzdjpy.png Size: 146 KB
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  • #1,373
  • Dec 29, 2021 7:26am Dec 29, 2021 7:26am
Quoting bkg102665
These are trades I am currently in so let us see how they work out and please ask any questions you may have as I am here to help fellow traders if possible. Happy Trading! {image} {image} {image} {image} {image} {image}
Hi
I'm really impressed you are still running this thread for around 10 years using basically the same method.
Yes, you added few extra MAs and oscillators but basically it's the same strategy.
You should be an authority about the use of MAs and the old problem of them being lagging indicators.

so, how did you overcome their lagging nature?
Thanks
  • #1,374
  • Dec 29, 2021 7:38am Dec 29, 2021 7:38am
Quoting Merka
{quote} Hi I'm really impressed you are still running this thread for around 10 years using basically the same method. Yes, you added few extra MAs and oscillators but basically it's the same strategy. You should be an authority about the use of MAs and the old problem of them being lagging indicators. so, how did you overcome their lagging nature? Thanks
I can't say I am an authority in ma's but I do like the 10sma as a guide to where the market might be going. If I see price go below the 10sma at resistance area or above 10sma at support are I am probably going to take the trade. As you can see by my charts I now use MACD to try and help me see a potential trade developing. Notice how on a potential cross below the 10sma the histogram bars go below the red line that puts me in a trade. If price goes below the 10sma but the histogram bars are above the red line on my MACD I will not take the trade.

Notice the blue area on this chart.It will show you what I am talking about.
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  • #1,375
  • Dec 29, 2021 8:06am Dec 29, 2021 8:06am
Quoting bkg102665
{quote} I can't say I am an authority in ma's but I do like the 10sma as a guide to where the market might be going. If I see price go below the 10sma at resistance area or above 10sma at support are I am probably going to take the trade. As you can see by my charts I now use MACD to try and help me see a potential trade developing. Notice how on a potential cross below the 10sma the histogram bars go below the red line that puts me in a trade. If price goes below the 10sma but the histogram bars are above the red line on my MACD I will not take...
Yes I see
you have 10SMA on the chart. what's the second MA setting?
I'm going to replicate your chart
  • #1,376
  • Dec 29, 2021 8:16am Dec 29, 2021 8:16am
Quoting Merka
{quote} Yes I see you have 10SMA on the chart. what's the second MA setting? I'm going to replicate your chart
I have a 10sma and a 40sma on my charts.
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  • #1,377
  • Dec 29, 2021 8:23am Dec 29, 2021 8:23am
Can someone please advise me as to how to change my default page to this forum page? Thanks
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  • #1,378
  • Dec 29, 2021 8:48am Dec 29, 2021 8:48am
Please have a look at this setup
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Click to Enlarge Name: GBPAUDm#Daily Sell setup 07-04-2020.png Size: 30 KB
  • #1,379
  • Dec 29, 2021 9:07am Dec 29, 2021 9:07am
Quoting Merka
Please have a look at this setup {image}
Yes that was a perfect set up to go short. Please notice there is a false 10sma cross 10 days earlier. You will get bad reads so always have a stop loss in place and know where your support and resistance areas are for better decision making.
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  • #1,380
  • Dec 30, 2021 4:52am Dec 30, 2021 4:52am
I pulled the trigger on this eur/usd trade yesterday so we will see how it progresses! Did anyone else take any trades based on the 10sma?
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