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Daily Chart w/ 10sma

  • #141
  • Jan 5, 2012 5:44pm Jan 5, 2012 5:44pm
I've been studying this method with interest. Looks like a great method for the working guy. Taking a demo trade long - USDCAD with TDI cross as well as MA10 cross. Not sure about holding over the weekend? Any comments from those with more experience?
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  • #142
  • Jan 5, 2012 7:27pm Jan 5, 2012 7:27pm
Quoting dmostpips
I've been studying this method with interest. Looks like a great method for the working guy. Taking a demo trade long - USDCAD with TDI cross as well as MA10 cross. Not sure about holding over the weekend? Any comments from those with more experience?
I just went long on this as well. Be careful of the wedge forming(red trenlines).
Attached Image (click to enlarge)
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Please ask questions and share your experiences with us all!
  • #143
  • Jan 5, 2012 7:29pm Jan 5, 2012 7:29pm
Quoting bkg102665
I just went long on this as well. Be careful of the wedge forming(red trenlines).
Looking to get maybe 150 pips out of this. I would exit the trade if it closes below the 10sma or if it reaches the red trendline.
Please ask questions and share your experiences with us all!
  • #144
  • Jan 5, 2012 7:38pm Jan 5, 2012 7:38pm
Good system BKG... thanks for sharing.

I really like the simplicity and the low stress of trading the daily charts.

I was wondering if you have tried using the 100 SMA on your charts? It seems to be good for S/R.
  • #145
  • Jan 5, 2012 8:11pm Jan 5, 2012 8:11pm
Quoting bkg102665
I just went long on this as well. Be careful of the wedge forming(red trenlines).
Thanks for your method.

But in this trade the s/r are far away so how to decide if we should take the trade?
  • #146
  • Jan 5, 2012 9:32pm Jan 5, 2012 9:32pm
USD/CAD long position???
  • #147
  • Jan 5, 2012 9:41pm Jan 5, 2012 9:41pm
so i mean
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  • #148
  • Jan 5, 2012 9:50pm Jan 5, 2012 9:50pm
Quoting bkg102665
I just went long on this as well. Be careful of the wedge forming(red trenlines).
Thanx for the trendline heads up. Also realized NFP Friday so could be hectic. Don't think I'd trade real $$ but will leave the demo run.
  • #149
  • Jan 6, 2012 2:33am Jan 6, 2012 2:33am
bkg102665 and other who are follow this thread.

This system works well , I trade this for several years, the way you trade is the agrissive way,
You can filter a lot of signals and that saves money.

1. put an ema 100/or 200 in the chart , above 200 only long and vice versa/
2. when price break sma or ema 10. put an limit order at the low of the signalcandle.
use stops and exits with fibonacchi or Atr.

see example where you can filter 2 false signals
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  • #150
  • Jan 6, 2012 7:06am Jan 6, 2012 7:06am
Quoting adsanders
Good system BKG... thanks for sharing.

I really like the simplicity and the low stress of trading the daily charts.

I was wondering if you have tried using the 100 SMA on your charts? It seems to be good for S/R.
I do use a 200sma but not 100sma but I am sure it will help. We all must adjust my system to your style.
Please ask questions and share your experiences with us all!
  • #151
  • Jan 6, 2012 7:07am Jan 6, 2012 7:07am
Quoting kijkij
Thanks for your method.

But in this trade the s/r are far away so how to decide if we should take the trade?
It crossed the 10sma up so I decided to take it. I am not expecting much but we will see....
Please ask questions and share your experiences with us all!
  • #152
  • Jan 6, 2012 7:09am Jan 6, 2012 7:09am
Quoting frani60
so i mean
Yes long. It is not the greatest example of my trading but I took it. You can clearly see on your chart that we have been in a sideways to up trend so I took the signal long. We will see what happens.
Please ask questions and share your experiences with us all!
  • #153
  • Jan 6, 2012 8:07am Jan 6, 2012 8:07am
Quoting bkg102665
I just went long on this as well. Be careful of the wedge forming(red trenlines).
I have locked in s/l at +1 so we will see where it goes from here. It is a no loss trade now with no stress!!
Please ask questions and share your experiences with us all!
  • #154
  • Jan 6, 2012 10:49am Jan 6, 2012 10:49am
Thank you BKG for your sharing, Im trying it out with a demo account and it looks good.
  • #155
  • Jan 6, 2012 12:21pm Jan 6, 2012 12:21pm
I am outta here guys. Have a great weekend!!
Please ask questions and share your experiences with us all!
  • #156
  • Jan 7, 2012 12:32am Jan 7, 2012 12:32am
Quoting bkg102665
I have locked in s/l at +1 so we will see where it goes from here. It is a no loss trade now with no stress!!
Yes I am at +79 on market close. I think I should lock at least +20 pips
  • #157
  • Jan 7, 2012 1:51am Jan 7, 2012 1:51am
long usacad also +63
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  • #158
  • Jan 7, 2012 2:36am Jan 7, 2012 2:36am
Quoting bkg102665
Yes long. It is not the greatest example of my trading but I took it. You can clearly see on your chart that we have been in a sideways to up trend so I took the signal long. We will see what happens.
thx for sharing this nice strategy, was my first trade and bummm :-)

i closed half position after 50 pips rest @ end of the day because weekend so i want be flat

nice weekend
  • #159
  • Jan 8, 2012 4:24am Jan 8, 2012 4:24am
I've been following this thread and found it very useful and user friendly. Here is one of the case i have.

From below xau chart, i found my entry to buy is not good

1. because SMA 200 and SMA 10 is not sync ( if sma 10 below sma 200 we should only sell) but the sma 10 suggest buy
2. the biggest reason for making it a bad trade is because the entry is tooo close S/R aprox : 50 pips
3. The close candle makes it a reversal sign ( inverted hammer ) and also possible double top pattern.
4. i was late to make the entry ( i just found out about this thread few days ago)

That's my humble opinion. What do you think? Thank you
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Risk Less Gain More, Trade Less Make More
  • #160
  • Jan 8, 2012 2:21pm Jan 8, 2012 2:21pm
[quote=bullbearies;5276203]I've been following this thread and found it very useful and user friendly. Here is one of the case i have.

From below xau chart, i found my entry to buy is not good

1. because SMA 200 and SMA 10 is not sync ( if sma 10 below sma 200 we should only sell) but the sma 10 suggest buy
2. the biggest reason for making it a bad trade is because the entry is tooo close S/R aprox : 50 pips
3. The close candle makes it a reversal sign ( inverted hammer ) and also possible double top pattern.
4. i was late to make the entry ( i just found out about this thread few days ag

Hi, I am new to the posting stuff but been a silent follower of this thread and forexfactory. I would of entered on the first candle cross. I noticed people using the 100 or 200 day moving average but i noticed from some of your other red arrows you could of made pips going agsinst the 100 or 200 day moving average. So if you can makes pips going against it why does some people say trade with it.
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