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Interesting GBP/USD MA Crossover system 178 replies

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MA Crossover System that works for me

  • #361
  • Edited 1:59am Jan 26, 2023 1:41am | Edited 1:59am
Quoting josi
{quote} Hope it will work out. One question: given the resistance EURAUD faces why wasn't AUDUSD the better choice?
AUDUSD is up against a key resistance level and it seems a bit extended / overbought. EURAUD does have some local support to get through, but that is more than 50 pips down, and 50 is where I move to B/E, which has now happened. So if it gets stopped out at B/E, so be it, if it survives, it could do well. There is a longer-term support level further down but my target is above that. That is a risk to banking the full amount. This pair has a decent positive swap on a short, so I get to keep the small change regardless .
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  • #362
  • Edited 5:41am Jan 26, 2023 5:09am | Edited 5:41am
Quoting AlistairC
{quote} AUDUSD is up against a key resistance level and it seems a bit extended / overbought. EURAUD does have some local support to get through, but that is more than 50 pips down, and 50 is where I move to B/E, which has now happened. So if it gets stopped out at B/E, so be it, if it survives, it could do well. There is a longer-term support level further down but my target is above that. That is a risk to banking the full amount. This pair has a decent positive swap on a short, so I get to keep the small change regardless . {image}
Moment of truth! Will it break through this local support or not? The target is 25 pips away.

It's a serious question. What would you do? Research by a big forex agency shows that while retail traders like us have a decent win/loss ratio, they close their trades early and end up losing overall.
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  • #363
  • Jan 26, 2023 6:26am Jan 26, 2023 6:26am
Quoting AlistairC
Not much available in the last few days. I placed this EURAUD trade late yesterday when I saw the bearish pinbar rejecting the EMAs. It's now at B/E. {image}{image}
Agree with you, Alistair. Opportunity is scarce this week.
  • #364
  • Edited Jan 27, 2023 12:43am Jan 26, 2023 6:28am | Edited Jan 27, 2023 12:43am
Quoting AlistairC
{quote} Research by a big forex agency shows that while retail traders like us have a decent win/loss ratio, they close their trades early and end up losing overall. {image}
People - again and again - are spreading the "apparently" obvious rumour that retail traders overall lose (numbers vary from 75-90 per cent):
Up to this day I have not seen one single serious research paper (with more than 1000 participants) that makes such a claim. I believe it is a retail traders' myth that has been spread by marketing people (to keep selling tutoring+products).
The win/loss ratio is, of course, irrelevant to decide whether you are profitable or not: replace it by RR+win-loss-ratio+money management (and you're on your way).
As to your trade: to calculate your RR (already knowing your win-loss-rate from testing) you need to have a TP. If you have a TP, you know what to do (because you know how many of your trades will - statistically speaking - hit your target and how many will fail - and both is part of your trading system, i. e. part of trading).
P.S.: and you did it - news this time may have helped
I think we are at the center of opportunity right now:
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  • #365
  • Jan 26, 2023 6:37am Jan 26, 2023 6:37am
I'm looking to buy WTI. Hope can get the trigger.

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  • #366
  • Jan 26, 2023 6:51am Jan 26, 2023 6:51am
US500 long trade. I was a bit late with the entry.

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  • #367
  • Jan 26, 2023 8:20am Jan 26, 2023 8:20am
Quoting AlistairC
{quote} Moment of truth! Will it break through this local support or not? The target is 25 pips away. It's a serious question. What would you do? Research by a big forex agency shows that while retail traders like us have a decent win/loss ratio, they close their trades early and end up losing overall. {image}
Target reached!
  • #368
  • Jan 26, 2023 8:23am Jan 26, 2023 8:23am
Quoting AlistairC
{quote} Target reached!
Nice one AlistairC
  • #369
  • Jan 26, 2023 12:31pm Jan 26, 2023 12:31pm
Gu... buy
  • #370
  • Jan 26, 2023 1:24pm Jan 26, 2023 1:24pm
Quoting porfirio
Gu... buy
Good call, price is certainly bullish, but perhaps we should wait until price has broken above resistance.
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  • #371
  • Jan 26, 2023 1:52pm Jan 26, 2023 1:52pm
Quoting yanah12
{quote} Agree with you, Alistair. Opportunity is scarce this week.
Dear Alistair. It was a nice catch. I missed it because I was really busy at work. This week is not a great success for me. The market is driven by the news (US datas). I started the week with two losses, so I am sitting on my hands for a few days. I hope to come back with "green pips", winner examples. Dear Alistair, thank you for your efforts, the ideas, the contributions.
  • #372
  • Jan 26, 2023 5:31pm Jan 26, 2023 5:31pm
Alistair ...
green candles in W and Mn are very powerful ....
and the operation takes place above the pivot point candle previus W
  • #373
  • Jan 26, 2023 8:05pm Jan 26, 2023 8:05pm
Quoting neilpryde
{quote} Dear Alistair. It was a nice catch. I missed it because I was really busy at work. This week is not a great success for me. The market is driven by the news (US datas). I started the week with two losses, so I am sitting on my hands for a few days. I hope to come back with "green pips", winner examples. Dear Alistair, thank you for your efforts, the ideas, the contributions.
Inspiring comment. Look forward to seeing your new trades, so that we could learn from them.
  • #374
  • Jan 26, 2023 10:54pm Jan 26, 2023 10:54pm
Quoting AlistairC
{quote} Good call, price is certainly bullish, but perhaps we should wait until price has broken above resistance. {image}
It's almost end of the month. It's safer to wait for price to break above previous month's high.
We might see a double-top formation. Just my opinion.

Trade safe

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  • #375
  • Jan 26, 2023 11:04pm Jan 26, 2023 11:04pm
Watching this GJ setup.

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  • #376
  • Jan 27, 2023 12:09am Jan 27, 2023 12:09am
Short GbpNzd. D1 chart looks choppy. H4 gave us a pinbar (green arrow).

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  • #377
  • Jan 27, 2023 12:22am Jan 27, 2023 12:22am
Quoting yanah12
Watching this GJ setup. {image}
Which way are you expecting it to go, yanah12?

I went and had a look at my GBP profile - 7 GBP pairs at a glance - and most are bearish or possibly topping. It will be interesting to see what this pair does next week.
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  • #378
  • Jan 27, 2023 12:34am Jan 27, 2023 12:34am
Quoting AlistairC
{quote} Which way are you expecting it to go, yanah12? I went and had a look at my GBP profile - 7 GBP pairs at a glance - and most are bearish or possibly topping. It will be interesting to see what this pair does next week. {image}
I'm expecting it to go south. USD is extremely overbought. Let's see how things go.

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  • #379
  • Jan 28, 2023 7:54am Jan 28, 2023 7:54am
As a weekend preparation activity I thought I would mark up every H4 chart with which way the daily chart is going, as in the example. I will then ignore those that are unclear, sideways or obviously blocked by S/R or an extreme level until they show signs of a trend forming.

I've got these 10 going somewhere (as per the daily) and 18 I'm not sure about:
EURAUD down
EURUSD up
AUDJPY up
CADJPY down
CADCHF down
CHFJPY down
GBPAUD down
USDJPY/CAD/CHF all down

Of these, some are possibly at the end of a trend or are close to S/R, but I've included them anyway. Any comments?
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  • #380
  • Jan 28, 2023 3:30pm Jan 28, 2023 3:30pm
AlistairC,

i like your thread more and more

atb
vvm
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