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Daily Chart w/ 10sma

  • #321
  • Edited 11:51am Feb 3, 2012 11:06am | Edited 11:51am
Quoting tomthepoppop
Update: I have moved my SL to BE +5 and my TP 1.2952 - That is still above
the Support level of 1.2875 but I may move it down as it approaches the present TP level. Also why not add another order when I get into profit of +100?
Just took some off at 100 pips (EURCAD) and moved the rest to +10 to cover spread
update: AudJpy trade hit target @ 70 pips rest to +10 to cover spread
Have a good weekend all and thanks for everthing BKG
Always Learning
  • #322
  • Feb 3, 2012 11:51am Feb 3, 2012 11:51am
Just got short GBPAUD off the daily move off the 10sma & break below support, stop above resistance @ 1.5

Took 1/2 my normal position as it is a friday...

Moved the stop on my EURAUD position to b/e
My EURGBP is doing nothing, I'm gonna continue to let it work

Great system BKG!
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  • #323
  • Feb 3, 2012 12:55pm Feb 3, 2012 12:55pm
Quoting bkg102665
Great job!! I often find when I get greedy it bites me in the butt. Just take it slow and get comfortable before you start doubling down would be my suggestion.
I understand - Thanks for keeping me on straight and narrow.
  • #324
  • Feb 3, 2012 1:50pm Feb 3, 2012 1:50pm
Thanx for sharing nice system and goodluck.

I wll try to test it for some months on demo account. I like the simplicity of it which means less stress.

Audnzd looks interesting for next week if it closes above ma, what do you think guys? Maybe not the best risk to reward, but 1 to 1 we can reach.
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  • #325
  • Feb 5, 2012 7:39am Feb 5, 2012 7:39am
Quoting bkg102665
Two very nice trades!!
Hi Bkg and fellow traders !

Nice thread and very good system....! I took AUDJPY as well. I entered two positions. One at the close of the bullish candle and one at the breach of the IB that followed with a very tight stop. Already sold half on that one at 1:1.

Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy.gif Size: 28 KB
  • #326
  • Feb 6, 2012 3:17am Feb 6, 2012 3:17am
Quoting Phiksalamuk
Hi Bkg and fellow traders !

Nice thread and very good system....! I took AUDJPY as well. I entered two positions. One at the close of the bullish candle and one at the breach of the IB that followed with a very tight stop. Already sold half on that one at 1:1.

Cheers.
Second half stopped out at BE. First position stop locked at BE+5pips. I entered 2 new positions on EURCAD and EURAUD. Any comments is welcome....!
Attached Image(s) (click to enlarge)
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  • #327
  • Feb 6, 2012 4:34am Feb 6, 2012 4:34am
Quoting Phiksalamuk
I entered 2 new positions on EURCAD and EURAUD. Any comments is welcome....!
EURAUD is near it's all time low (@ 1,2165). So that could be a very strong support...
  • #328
  • Feb 6, 2012 4:54am Feb 6, 2012 4:54am
there seems a valid short on the eu daily...

comments..
  • #329
  • Feb 6, 2012 6:14am Feb 6, 2012 6:14am
Quoting JulesvH
EURAUD is near it's all time low (@ 1,2165). So that could be a very strong support...
The candle that made the all time low closed on friday below previous low of 1.2226 that is now supposed to be resistance. I entered on sunday opening that was below 1.2226. If it close back above it I will be out.
  • #330
  • Feb 6, 2012 6:16am Feb 6, 2012 6:16am
Quoting whatfx
there seems a valid short on the eu daily...

comments..

There is strong support at 1.3025 connected to 10 or 11 days of consolidation. I personally will wait a day to see it close below this area before entering
Always Learning
  • #331
  • Feb 7, 2012 1:06pm Feb 7, 2012 1:06pm
Hi Bkg, I have a question for you. At what time do you enter at the operation? Is it at the close of the daily candle, or do you wait for the opening of London Session (or NY session...) to try to get a better entry price with less risk?

Thank you very much, and sorry for my poor English...

Greg.
  • #332
  • Feb 7, 2012 1:42pm Feb 7, 2012 1:42pm
Quoting gregofx
Hi Bkg, I have a question for you. At what time do you enter at the operation? Is it at the close of the daily candle, or do you wait for the opening of London Session (or NY session...) to try to get a better entry price with less risk?

Thank you very much, and sorry for my poor English...

Greg.
Curious about the answer here aswell. I personally took the explanation of the system literally and I always look at the close price of the previous candle to determine what to do. After that I set a good price limit order to possibly shave a couple of pips off the price or just forget about the trade if it keeps going up. This seems counterintuïtive since I would be missing out on strong movements, but what can I say? I'm a sucker for bargains...
  • #333
  • Feb 7, 2012 5:31pm Feb 7, 2012 5:31pm
Quoting Phiksalamuk
The candle that made the all time low closed on friday below previous low of 1.2226 that is now supposed to be resistance. I entered on sunday opening that was below 1.2226. If it close back above it I will be out.
EURAUD closed at BE. EURCAD for a loss close to SL. AUDJPY still running at +120pips.
  • #334
  • Feb 8, 2012 6:42am Feb 8, 2012 6:42am
Quoting gregofx
Hi Bkg, I have a question for you. At what time do you enter at the operation? Is it at the close of the daily candle, or do you wait for the opening of London Session (or NY session...) to try to get a better entry price with less risk?

Thank you very much, and sorry for my poor English...

Greg.
I will enter at the open of the daily candle.
Please ask questions and share your experiences with us all!
  • #335
  • Feb 8, 2012 8:02am Feb 8, 2012 8:02am
Hello Bkg102665

Great system. Current AUDJPY up 200+, want it to go through 84, target 86.

New trades, EURUSD, target first resistance, then 200 sma (green line).

EURJP, GBPJP to target resistance on chart.

Thanks again for the great system and posts.

B.
Attached Image(s) (click to enlarge)
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  • #336
  • Feb 8, 2012 8:23am Feb 8, 2012 8:23am
Quoting bkg102665
BTW please feel free to ask questions about this and any currency pair you may be looking at. Just so you know I use IBFX as my broker mainly because their candles along with the 10sma seem to be more reliable than other brokers that may close the day at a different time. I also use FXDD as my second broker but base all my trades off of IBFX charts.
bkg
if u dont mind, are fxdd and ibfx from United States?

tq
  • #337
  • Feb 8, 2012 8:45am Feb 8, 2012 8:45am
Quoting sniperfxmy
bkg
if u dont mind, are fxdd and ibfx from United States?

tq
Hopefully BKG won't mind me answering. Yes they are both from the US, but I believe they have affiliates outside the US. Ibfx for example has one that i Know of which is IBFX Australia. FXDD has a 5 pm est closing Candle and IBFX has a 7 or 8 PM EST closing candle depending on Daylight Savings in the US. (7pm EST now until we move our clocks up 1 hour on 3/25/12 )
Always Learning
  • #338
  • Feb 8, 2012 1:44pm Feb 8, 2012 1:44pm
Quoting bkg102665
I will enter at the open of the daily candle.
BKG, thank you very much for answering my question.
  • #339
  • Feb 8, 2012 5:54pm Feb 8, 2012 5:54pm
Quoting bkg102665
I will enter at the open of the daily candle.
Each broker will have different day. For instance I am Chicago CST and my email alerts for daily cross up/cross down is 18:00, 6:00 pm my time. So I wait. Do you suggest I not wait and enter on alert if all other conditions are favorable like support resistance, etc?
Thank you for sharing a very nice trading style.
  • #340
  • Feb 9, 2012 2:23am Feb 9, 2012 2:23am
These are the entries of the post 314 (day 1 and 2 February)

the only difference is that the signal took on h4 ...
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