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Daily Chart w/ 10sma

  • #441
  • Feb 19, 2012 4:18pm Feb 19, 2012 4:18pm
Quoting minortrader
A cursory preliminary review has resulted in creation of the following short list :

GBPAUD - Long - almost ready

GBPNZD - Long - almost ready

EURUSD - Long - watch

EURAUD - Long - watch

EURNZD - Long - watch

USDSGD - Short - watch

NZDCHF - Short - watch

Will re-review this short list upon opening of the market (Sunday at 06.00PM EST - at my Broker) and once again at Close of the Sunday Daily Candle (Sunday at 07.00PM EST or Midnight GMT) and finalize the potential trade entries.

Requesting...
minortrader if you dont mind an explanation of your list and how you have come to it would be helpful
  • #442
  • Feb 19, 2012 4:34pm Feb 19, 2012 4:34pm
Quoting JayTrader
Looks like you may be using a10 period EMA vs SMA. I put a 10EMA on the chart I posted above and it did have a close above. Thats why you are probably getting a different signal.
yes jay you are right, but i had good results until now
  • #443
  • Feb 19, 2012 4:41pm Feb 19, 2012 4:41pm
Quoting frani60
yes jay you are right, but i had good results until now
Just follow the system and you wont go wrong, any other MAs are not recommended apart from a sma10 it could not be any more simpler.
  • #444
  • Feb 19, 2012 4:51pm Feb 19, 2012 4:51pm
Quoting JayTrader
If you are having good results doing it the way you were, then I personally would not change a thing. If you start running into trouble with your trading at least you have a starting point to try something different. Trading is personal, and BKG has said it in his own way in the thread , what works for him, or me may not work 100% for you so make it you own
Totally disagree we are all here to hopefully get on board with a proven system which I believe this one is if we are not happy following it well what can I say ?

Jay we all have our opinions whether they be right or wrong but we can all learn from each other.
  • #445
  • Feb 19, 2012 5:07pm Feb 19, 2012 5:07pm
minortrader,

Looks like a nasty open on the GA and GNZ trades.

Considerable movement back under the 10SMA.

Miike
  • #446
  • Feb 19, 2012 5:36pm Feb 19, 2012 5:36pm
Quoting miike
minortrader,

Looks like a nasty open on the GA and GNZ trades.

Considerable movement back under the 10SMA.

Miike
I thought this system was all about entering trades on the close of the day whether they be above or below the 10sma
  • #447
  • Feb 19, 2012 5:51pm Feb 19, 2012 5:51pm
Quoting don555
minortrader if you dont mind an explanation of your list and how you have come to it would be helpful
-----------------------------------------------------

Hi Don,

Sorry for delay in response. Having some Broker Site issues.

I just follow BKG's System, without any amendment, addition or change.

Scanned each and every pair available on my Broker's Platform (IBFX) and made a short list of the pairs which appeared to be in the process of reversal from either the Resistance or Support.

Ones which have already just reversed and closed above (or below) the 10sma are prime candidates for Trade entry upon further confirmation at the time of closing of Sunday Daily Candle in about 15 minutes from now (07.00PM EST / midnight GMT).

No trade is taken yet.

Just waiting for current daily candle to close.

Hope this answers your question.

But, please feel free to ask any further clarifications or offer your valuable comments.
  • #448
  • Feb 19, 2012 5:56pm Feb 19, 2012 5:56pm
Hi Don555,

I've had another look at the charts.

GA is currently in a downtrend channel. The current daily has crossed the 10SMA but we are awaiting close.

GZ is currently trending down, has crossed the 10SMA and is heading to the next support at around 1.85800. This is a valid trade if we can enter at the close of the signal bar at 1.89875.

Screenshots attached.

Cheers,
Miike
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GA.jpg Size: 124 KB
Click to Enlarge Name: GN.jpg Size: 126 KB
  • #449
  • Feb 19, 2012 5:58pm Feb 19, 2012 5:58pm
Quoting minortrader
-----------------------------------------------------

Hi Don,

Sorry for delay in response. Having some Broker Site issues.

I just follow BKG's System, without any amendment, addition or change.

Scanned each and every pair available on my Broker's Platform (IBFX) and made a short list of the pairs which appeared to be in the process of reversal from either the Resistance or Support.

Ones which have already just reversed and closed above (or below) the 10sma are prime candidates for Trade entry upon further confirmation at the...
Hi minortrader will you put up what you think are okay trades to enter. Thanks in advance.
  • #450
  • Feb 19, 2012 6:02pm Feb 19, 2012 6:02pm
Quoting miike
minortrader,

Looks like a nasty open on the GA and GNZ trades.

Considerable movement back under the 10SMA.

Miike
------------------------------------------------------

Hi Mike,

You are right.

Fortunately, I have not entered any trade yet.

Because of the uncertainty of the market movement during the prolonged recess over the weekends, I prefer to defer new Trades (which may be generated at the closing of Market on Friday evening) to be taken only after the closing of daily candle on Sunday.
  • #451
  • Feb 19, 2012 6:09pm Feb 19, 2012 6:09pm
Quoting mario777
bkg hi! thanks for this wonderful and simple strategy. This is my first post but Ive been following this thread and others for few months. I have one question. Do you also use weekly and monthly S/R? Thanks!
I normally do not but there is no harm in knowing where those areas are.
Please ask questions and share your experiences with us all!
  • #452
  • Feb 19, 2012 6:12pm Feb 19, 2012 6:12pm
Quoting frani60
E/U daily long what do you think???
Personally I think not. This has been a s/r area so I would probably look at another pair or short this if we get that signal.
Please ask questions and share your experiences with us all!
  • #453
  • Feb 19, 2012 6:30pm Feb 19, 2012 6:30pm
Quoting don555
Hi minortrader will you put up what you think are okay trades to enter. Thanks in advance.
---------------------------------------------------------------

Hi Don,

IMHO, strictly on technical basis, there is only one trade today, which is to Buy EURUSD.

But, I won't take it.

Too much dark cloud hanging around this pair due to uncertainty about Greece Debt arrangement / agreement.

Secondly, this pair is in an overall downtrend.

So, would rather wait for a valid Short signal.
  • #454
  • Feb 19, 2012 6:46pm Feb 19, 2012 6:46pm
Quoting minortrader
---------------------------------------------------------------

Hi Don,

IMHO, strictly on technical basis, there is only one trade today, which is to Buy EURUSD.

But, I won't take it.

Too much dark cloud hanging around this pair due to uncertainty about Greece Debt arrangement / agreement.

Secondly, this pair is in an overall downtrend.

So, would rather wait for a valid Short signal.


Thanks for your advice I will certainly take it.
  • #455
  • Feb 20, 2012 3:04am Feb 20, 2012 3:04am
Were the gbp/aud and the gbp/nzd qualifying trades last night
  • #456
  • Feb 20, 2012 6:56am Feb 20, 2012 6:56am
bkg in post 94 what did you mean by a candle closing full
  • #457
  • Edited 7:09am Feb 20, 2012 6:57am | Edited 7:09am
Quoting gregofx
This was the best week i ever had!!!

I closed all trades for 485 pips!!! I feel I'm on the way now...

Thank you BKG for this wonderfull method!!!

Greg.
Hy all!! One of you asked me to post the charts of the trades I've taken with this simple method, as I've shared my results last week with you.

This is a brief report of all the trades I've done with BKG method, and I hope it helps those who are interested in learning this way of trading.

I have taken 6 trades (demo) and I have this results:
GBPUSD => + 100 pips
AUDUSD => Still open
EURUSD => + 150 pips
USDCHF => + 70 pips
EURCAD => + 70 pips
EURGBP => + 45 pips

I closed 5 trades for + 435 pips. It's amazing!!!
(I know that I've told you I made 485 pips... well, I've made 50 more pips trading the same method in a Long for NZDUSD in a 4h chart. Please don't ask me to post this trade because it is out of this thread!!)

BKG, I notice that all winning 1/2 positions that I've set SL at BE have been closed. Once I close the first 1/2 position at the TP target, I'm thinking that perhaps it is convenient to close the remaining 1/2 position if price comes against the trade and falls / reaches the 50% of the target. (It is difficult to me to explain it in english, so tell me if it's not clear). What do you think about this? How do you manage your trade in this situations?

Greg.

Here are the charts:
Attached Image (click to enlarge)
Click to Enlarge Name: Trades.jpg Size: 134 KB
  • #458
  • Feb 20, 2012 7:56am Feb 20, 2012 7:56am
gregofx -


It appears that the 3d candle after entry is a heads up in this market. Maybe I'm not seeing correctly or generalizing too much but hitting BE seems to have ocurred during the 3d candle on your charts. And maybe this is all we can expect in this crazy Greece will Greece won't time period.

Congratulations for some good trades. p.
  • #459
  • Feb 20, 2012 10:57am Feb 20, 2012 10:57am
Hi guys it is my first post and I wish to say this is the best strategy I have ever seen. Since friday I am up about 200 pips these are my trades from friday:
EUR/USD Buy 1.3156 SL 1.3136 TP open
USD/CAD Sell 0.9967 SL 0.9990 TP open
USD/JPY Buy 79.34 SL 78.90 TP open
EUR/JPY Buy 104.52 SL 104.00 TP open
All positive and still running
God bless You BKG
Thank You so much for this simple and amazing strategy
swing it!
  • #460
  • Feb 20, 2012 11:24am Feb 20, 2012 11:24am
Hi Gregfx,

I saw your trades and I took the same trades as you.

one point with the stoploss .

When I enter a long signal I put my stoploss a few pips below the low of the entry candle. you took the last swing high.
in the trade of the EUR/USD it is a differnce of 40 pips.

Look back in your trades and see that when you put your stoploss at the high of low of the signalcandle you can make more pips and your risk reward is going up.

Dutchsignals
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