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Monthly Profit - Daily Trading using SMA

  • #12,381
  • Nov 14, 2024 11:05am Nov 14, 2024 11:05am
[quote=Filipo1;15059274]{quote} Gold approaching major support on 50% Fibonacci retracement.

Gold : ongoing rebound on 50% retracement.
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I used to be indecisive but now I'm not so sure...
  • #12,382
  • Nov 15, 2024 4:17am Nov 15, 2024 4:17am
Sell signal on US30 (and US100 , US500).
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I used to be indecisive but now I'm not so sure...
  • #12,383
  • Nov 16, 2024 3:31am Nov 16, 2024 3:31am
Oil testing major support zone.
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I used to be indecisive but now I'm not so sure...
  • #12,384
  • Nov 16, 2024 6:58pm Nov 16, 2024 6:58pm
Hi there, been reading through this thread and started trying some trades. Any thoughts on this setup, just honking to watch on Mon before entering a short.
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  • #12,385
  • Nov 17, 2024 2:57am Nov 17, 2024 2:57am
Quoting 1Hour
Hi there, been reading through this thread and started trying some trades. Any thoughts on this setup, just honking to watch on Mon before entering a short. {image}
Hi 1Hour,
It's in range so not such a good setup for me.
If you check post nr.1 it clearly mentions in bold red: Avoid: Sideways pattern.

All the best.
P.S. Most exotic pairs suffer poor liquidity so you're also adding spikes/slippage risk on this one.
I used to be indecisive but now I'm not so sure...
  • #12,386
  • Nov 17, 2024 3:25am Nov 17, 2024 3:25am
Quoting Filipo1
DXY approaching resistance. {image}
The Dollar Index closed last Friday with a typical bearish hammer. Monday close could eventually confirm the reversal pattern.
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I used to be indecisive but now I'm not so sure...
  • #12,387
  • Nov 17, 2024 4:16am Nov 17, 2024 4:16am
Quoting Filipo1
{quote} Hi 1Hour, It's in range so not such a good setup for me. If you check post nr.1 it clearly mentions in bold red: Avoid: Sideways pattern. All the best. P.S. Most exotic pairs suffer poor liquidity so you're also adding spikes/slippage risk on this one.
great thanks for the feedback!!! Any thought on this short set up?
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  • #12,388
  • Nov 17, 2024 5:40am Nov 17, 2024 5:40am
Quoting 1Hour
{quote} great thanks for the feedback!!! Any thought on this short set up? {image}
It looks good from both daily and weekly perspectives.
Friday's candlestick is re-crossing below downward oriented SMA5,0 so a valid new signal, as stated by Bk8 on various occasions.
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I used to be indecisive but now I'm not so sure...
  • #12,389
  • Nov 17, 2024 3:59pm Nov 17, 2024 3:59pm
hello @Filipo1, thank you for keeping this thread alive. i have been following this thread for a few weeks, and i have read all the posts up to page 160. and i intend to follow this system. but unfortunately,looks like the owner and other old contributors are no longer active. I hope you can provide inspiration to this thread every day.
sorry if my English sounds weird—it’s not my main language.
  • #12,390
  • Nov 18, 2024 1:37am Nov 18, 2024 1:37am
USDZAR on watch for setup confirmation.

1. On price action we have a Bollinger bands piercing pin bar on Thursday followed by a bearish engulfing candlestick on Friday.
2. All this taking place on a major support/resistance level.
3. Let's see if today's close will confirm the bearish reversal setup with SMA 5,0 pointing down
4. To top it all off but NOT included in this strategy, we have a bearish divergence on RSI.
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I used to be indecisive but now I'm not so sure...
  • #12,391
  • Nov 18, 2024 4:29am Nov 18, 2024 4:29am
Quoting 1Hour
{quote} great thanks for the feedback!!! Any thought on this short set up? {image}
EURJPY possibly a good entry level after partial retracement of long Friday's candlestick.
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I used to be indecisive but now I'm not so sure...
  • #12,392
  • Nov 18, 2024 11:32am Nov 18, 2024 11:32am
Quoting Filipo1
Sell signal on US30 (and US100 , US500). {image}
Just closed my positions now. Looks like it will not go further down.
I used to be indecisive but now I'm not so sure...
  • #12,393
  • Nov 18, 2024 10:45pm Nov 18, 2024 10:45pm
[quote=Filipo1;15060183]
Quoting Filipo1
{quote} Gold approaching major support on 50% Fibonacci retracement. Gold : ongoing rebound on 50% retracement. {image} {image}
We now have buy signals on Gold and Silver.
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I used to be indecisive but now I'm not so sure...
  • #12,394
  • Nov 18, 2024 10:47pm Nov 18, 2024 10:47pm
Quoting Filipo1
USDZAR on watch for setup confirmation. 1. On price action we have a Bollinger bands piercing pin bar on Thursday followed by a bearish engulfing candlestick on Friday. 2. All this taking place on a major support/resistance level. 3. Let's see if today's close will confirm the bearish reversal setup with SMA 5,0 pointing down 4. To top it all off but NOT included in this strategy, we have a bearish divergence on RSI. {image} {image}
Sell signal on USDZAR
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I used to be indecisive but now I'm not so sure...
  • #12,395
  • Nov 18, 2024 10:50pm Nov 18, 2024 10:50pm
Quoting Filipo1
Oil testing major support zone. {image}
Buy signal on Oil
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I used to be indecisive but now I'm not so sure...
  • #12,396
  • Nov 18, 2024 10:55pm Nov 18, 2024 10:55pm
Quoting Filipo1
{quote} The Dollar Index closed last Friday with a typical bearish hammer. Monday close could eventually confirm the reversal pattern. {image}
Reversal pattern confirmed but no sell signal (yet?) on DXY
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I used to be indecisive but now I'm not so sure...
  • #12,397
  • Nov 18, 2024 10:58pm Nov 18, 2024 10:58pm
Leaving the thread for some time, all the best.
I used to be indecisive but now I'm not so sure...
  • #12,398
  • Nov 26, 2024 5:53am Nov 26, 2024 5:53am
Quoting Filipo1
Leaving the thread for some time, all the best.
Before disappearing, could you give us some feedback, what were your results with this system? Since you were visibly very active with it.

Cause I also run a backtest on EURUSD for the past 15 monthes and the profit was minimal. With the default 500 position size I finished with 8$.

But I also see that the system changed drastically through time. Originally it used SMA 5,3 then later 5,0 cross without regarding the SMA direction. (Thats why the old pics dont match the rules what we see now in #1 Post.) So the original results were coming from a quite different entry system.
  • #12,399
  • Nov 26, 2024 9:17am Nov 26, 2024 9:17am
Pretty nice strategy.
  • #12,400
  • Dec 7, 2024 2:57am Dec 7, 2024 2:57am
Quoting Krameri
{quote} Before disappearing, could you give us some feedback, what were your results with this system? Since you were visibly very active with it. Cause I also run a backtest on EURUSD for the past 15 monthes and the profit was minimal. With the default 500 position size I finished with 8$. But I also see that the system changed drastically through time. Originally it used SMA 5,3 then later 5,0 cross without regarding the SMA direction. (Thats why the old pics dont match the rules what we see now in #1 Post.) So the original results were coming...
Hi Krameri,

Yes I do have good results but as mentioned before with some personal adjustments.
All in all I guess every strategy works but what is mostly impacting traders' P&L is RISK MANAGEMENT. When I started my trading journey I was reading, hearing this repeatedly but for certain people like myself it can take time to accept it and act accordingly.
Most performing traders I have been in contact with have a winning/losing trades ratio of approximately 35% on average.
Nevertheless they can show consistency in their performance due to a strict risk management.
As endlessly repeated by the Japanese Ichimoku Master Kei, we must have as an objective to become non-loosing traders. Then gains will come as a side-effect of our ability to maintain a disciplined attitude.
For example regarding this strategy, I personally do not use the stop-loss rule of +/- 15 pips from last daily candlestick high/low. I am doing a top-down analysis to H1 or even M5, to determine a setup and usually do not have stop-loss more than 50 pips away from entry point. I will also keep carefully monitoring my trades during the first hours until I can trail my stop to breakeven, usually after 40-50 pips in my direction.
Not all trades will end in fireworks but the winning ones will largely offset the others, leaving some with substantial bonus.

Here are a few pairs that were recently trending well and it was difficult not to make money with them unless one suffer from a poor risk management system.
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I used to be indecisive but now I'm not so sure...
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